Taxes - July 2007

2007-07-31 00:42:56 · 2 answers · asked by Naveen g 1 in Other - Taxes

Hey guys,
I was worndering how much can you write of as a business when you donate stuff.
How much you can write off charity?
I 'm donating some stuff from our business that won't sell to salvation army and we gonna take it as a loss or write off as donations.
I just want to make sure there is limit when you claim.
thanks

2007-07-30 22:40:05 · 2 answers · asked by Anonymous in United States

2007-07-30 22:17:16 · 3 answers · asked by DAVID1995 1 in United Kingdom

2007-07-30 21:29:42 · 3 answers · asked by midas 3 in United States

2007-07-30 20:22:26 · 3 answers · asked by ashley_tisdale2006 2 in United States

I have been a part time delivery driver since I have started college and as a driver I have always been told to claim my tips at the end of the day as $1 per delivery.

I have done this for the past three years now my company is changing their policy and saying I have to claim $1 per cash delivery, and claim all tips on checks and credit cards in full, which lately has been averaging me anywhere from 50% - 85% of my tips and is taking chunks out of my paycheck. There have even been nights where managers have made me claim more than what I have actually made because the new policy is flawed where I don't average $1 on all deliveries. The new policy has only been enacted for about a month and we have lost 5 employees over it.

My question is what is the legality of them forcing me to claim tips and what is a more proper tip claiming policy that I could bring up to my managers. Any direction to posted documents on the web would be appreciated.

2007-07-30 19:06:01 · 4 answers · asked by erectuswow 2 in United States

2007-07-30 18:29:45 · 5 answers · asked by chaka333@verizon.net 1 in United States

Consider the parametric curve given by the equations

x(t) = t^2 + 23t - 8
y(t) = t^2 + 23t + 33

How many units of distance are covered by the point
P(t) = (x(t),y(t)) between t=0, and t=2?

(7516 / 3 is not the correct answer).

2007-07-30 18:05:49 · 1 answers · asked by Anonymous in Other - Taxes

a company offered me a relocation bonus of 10,000 but ihave to sign an agreement that i should stay with them for at least 24 months. which i did signed. out of the 10,000 i just got around 6,400 due to taxes.. now after 2 mos i have to leave the company for some reasons. they want me to return the entire bonus pre-tax. so it turned out i'm 3600 short of that amount. i know i should've not signed that thing. but, is there any way i could refund that 3600 from uncle sam. and not feel bad 'bout what i got into. thanks..

2007-07-30 17:57:57 · 3 answers · asked by justine30 1 in United States

I figured about $15.00 a week which would be like making $5.00 an hour. What do you think? Does this sound about right? Which would be $75 a month and $300 a month. Keep in mind I got a C in math so dont make fun of me too much if this is wrong.

2007-07-30 17:43:54 · 3 answers · asked by JDAWG 2 in United States

Can someone show me the appropiate way to format a letter of this kind. This is my first time having to deal with an issue like this and I want to make sure I get it right the first time.

Serious Answers ONLY I do not have time to play games

2007-07-30 17:21:42 · 4 answers · asked by latovat 3 in United States

Supposing you won top prize over 1 million S$, will they give you the full amount as published in the winning prizes' amount or they tax you upfront? How much is the tax?

2007-07-30 17:18:07 · 2 answers · asked by sg1299 1 in Singapore

2007-07-30 16:45:36 · 4 answers · asked by mssmss1 2 in United States

So, I got hired at a grocery store 3 weeks ago. During the first week on Thursday it was payday for everyone else. Now it's 3 weeks in and pay day is this Thursday. I've been there 3 weeks now, so will I get held back on this Thursday coming up? I don't see why I would since but some are saying I will, some are saying I won't.

2007-07-30 16:38:41 · 9 answers · asked by Anonymous in Canada

2007-07-30 16:30:59 · 11 answers · asked by hanna 1 in United States

2007-07-30 15:17:57 · 5 answers · asked by fa98 2 in United States

I need to know how to report certain types of information returns for an LLC taxed as a Large Partnership (1065-B and 1065B K-1)

If I filed Regulation A with the SEC and became temporarily public, would each investor (does not actively participate) who receives a membership unit report their capital gains (distributions/earnings) on a 1065-B K-1 or a 1099-DIV

2007-07-30 15:07:53 · 2 answers · asked by CompLLC 2 in United States

Presidential candidate Mitt Romney asked in Yahoo Answers about improving our income tax program; quote –

How can we change the tax code to ease the burden on our families and promote growth and innovation?

There were a number of good answers but I never had a chance to respond. How does this sound to you?

I think it is time for a flat tax. Using the last five years as a base, determine what the real tax amount was for each taxable category. We do not pay the actual tax base but reduce taxes using various exemptions and write offs. Unfortunately we do not all get the same benefits, have the same ability to pay high paid tax lawyers to reduce our taxes, or have benefit of all the tax loop holes. After identifying the “Average Tax” actually paid the IRS should establish that as the amount of taxes we pay. There would be no exemptions for personal taxes except for medical insurance and catastrophic medical costs. A person could gain the catastrophic medical exemption for themselves or a member of their family or through a certification that they paid for the catastrophic medical needs of another person.
This would probably not cut too deeply into the tax income required by the government to fund necessary programs. It would make tax payers more honest and reduce the burden of doing taxes and letting select people get away without paying any tax.
I also think people should be taxed based on their accepted category. A person earning more than $500,000.00 per year should have to separately claim any money gained through bonuses, performance awards or whatever and be taxed at a separate rate of no less than 60% of the additional. Those people who are then paid millions of dollars a year would pay personal taxes like anyone else but would have to pay a separate tax on excessive income not actually considered as wages; some have recorded earning of more than a million dollars a day, many over a million a month. This usually occurs in corporations where many people are working at minimum or near minimum wages.
I would also suggest a national sales tax of no more than 2% on everything but food, medical, gasoline and heating fuel. This is a fair tax, you pay on what you buy; for those who pay $12,000.00 for a car they pay far less tax than the person who can afford and does buy a $65,000.00 car, and neither has a loop hole to escape the tax.

2007-07-30 14:35:57 · 4 answers · asked by amnestiswrong 5 in United States

Attorney Tom Cryer just beat the IRS in a court of law!
http://www.youtube.com/watch?v=EgbYkElqxw0

2007-07-30 14:33:01 · 8 answers · asked by Anonymous in United States

2007-07-30 14:26:02 · 4 answers · asked by Marilynn S 1 in United States

2007-07-30 13:55:35 · 2 answers · asked by Mr. Football 1 in United States

I am new to filing taxes and I live in California.Can I deduct the total amount I have paid in state income tax from the total amount I owe in federal income tax on my tax return?

I am filing as a single person.

2007-07-30 13:55:15 · 6 answers · asked by steve j 1 in United States

I have a small business. I recently received a tax statement assessed by my county for "unsecured property tax", which includes tax on just about anything I use for my business. When I read this I could just not believe it. Is this legal? How can they tax me on my property, like my desk, or my car that I use for personal use and work? Isn't it enough that I paid taxes on all that stuff when I BOUGHT it, and the fact that I pay income taxes as well? Where do they get this stuff????

2007-07-30 13:40:31 · 3 answers · asked by Anonymous in United States

2007-07-30 13:29:35 · 3 answers · asked by daiberino 2 in United States

2007-07-30 12:39:20 · 1 answers · asked by patrikios2 1 in United States

2007-07-30 12:38:14 · 2 answers · asked by patrikios2 1 in United States

I would like to work for a firm that helps clients settle claims with the IRS for pennies to the dollar. Where would I find these companies and what position would I apply for?
Please, if you do not know, do not respond.

2007-07-30 11:56:22 · 2 answers · asked by Robert M 1 in United States

I don't understand tax deductions. They're good for reducing your taxes, but then, spending money on lots of stuff isn't exactly good for my wallet. So is there some sort of expenses sweet spot or what?

2007-07-30 11:26:57 · 3 answers · asked by Marc 2 in United States

What numbers on my tax returns can help me figure out what my tax bracket is?

http://www.irs.gov/formspubs/article/0,,id=150856,00.html

shows that I would be in the 25% backet, but according to my calculations. (total tax state +total tax federal) / ajusted gross income. I only paid about 12%

2007-07-30 11:24:24 · 4 answers · asked by JustWanaKnow555 2 in United States

and another question after the accident my car is total loss and the insurance company pay 11000 for my car do I need to pay tax for that. thanks for your time

2007-07-30 11:20:02 · 6 answers · asked by Phong K 1 in United States