Taxes - July 2007

as a sole prop. I am the only employee, if i pay myself all money that I bring in, do i owe anymore taxes?

2007-07-09 14:21:41 · 2 answers · asked by ed s 1 in United States

every job i have had i have paid taxes on each check i got and at the end of the year i would get back 6000-6500 because i have two kids now i just started a job that does not take them out and i have to file a different form and was told that i would still get money back at the end of the year and to just take what i used to pay in witch was about 1500 and subtract that from what i get witch is 6000 so i am thinking that i will get 4500 to 5000 was i told wrong or wright please help its stressing me out

2007-07-09 14:01:44 · 2 answers · asked by christopher w 1 in United States

My Mom passed 6 years ago. Before her passing she cashed out her annuities and savings to avoid the hospital getting the money. The money went to a trust and then to me. At her death we sold her house and cleared probate and then I received the proceeds.

The IRS is now saying that when she cashed out the annuities she never paid taxes on the income. Nw the IRS is saying the estate owes money to the IRS. Do I personally owe the money? FYI it's been spent over the 6 years.

2007-07-09 13:37:04 · 4 answers · asked by rk_blakley 1 in United States

I am wanting a career in taxes and I am considering taking classes through the three above. If you have taken the classes through either one please, give me your opinion.

2007-07-09 13:31:55 · 5 answers · asked by butterfly70637 2 in United States

Also for 2008. Please give your source for information. Thanks

2007-07-09 13:27:38 · 9 answers · asked by nanabanana 2 in United States

2007-07-09 12:59:12 · 3 answers · asked by 250irs 1 in United States

2007-07-09 12:53:08 · 2 answers · asked by khin s 1 in United States

well my brother is worried he's not getting normal income...and he's a college grad.

2007-07-09 12:26:24 · 3 answers · asked by Ashley 2 in United States

2007-07-09 11:56:01 · 3 answers · asked by steven s 1 in United States

We are all new to this business and we can't figure out which sales taxes we are to apply to our items, or if different items get a different sales tax. PLEASE HELP.

2007-07-09 11:34:55 · 2 answers · asked by simplysmilin384 2 in United States

they insist i pay and then ask for a refund which if they think it is warranted they will provide. this matter constitutes fraud by ga dept of revenue and the superior court of the state in granting the levy. i can't find anyone who can give me a way to work. i sent info on the cited years to zell miller when he was governor and no action was taken. he did promice it. no, i don't still have his return letter.

2007-07-09 11:08:41 · 1 answers · asked by Anonymous in United States

This is all to put on a 1040
On September 1, Irene opened a retail store. The store uses cash method of accounting. Her income and expenses for the year are as follows:
Sales of merchandise $62,300
Inventory, Sep. 1 (purchased in August) 62,500
Inventory, Dec. 31 58,700
Purchases during the year 35,300
Sales returns and allowances(DO I ADD THIS TO INCOME?)
525
Store rental 7,500
Office expence 1,400
Insurance 1,000
Advertising 3,000
There is more, but it won't fit. Do I add everything but the Sales and Sales returns and then subtract it from the gross earnings? Thank you!!!

2007-07-09 10:44:18 · 4 answers · asked by angel_rat_83 1 in United States

2007-07-09 10:42:47 · 2 answers · asked by velma1934 1 in United Kingdom

2007-07-09 10:37:52 · 4 answers · asked by velma1934 1 in United Kingdom

I've been working at this place for 3 years.One day my direct deposit isn't there.Since then they have been paying everyone cash and told us this is the way it's gonna be from now on.What do I do? Also we have an IRA with this company and they have been taking money out of everyone's check but they have put nothing in the IRA acounts.Do they owe us only what they took out of our checks or do they also owe the amount they pledged to contribute from their end and what about the instrest that would have been gained had they put the money in when they were supposed to.Also now that basically all their employees are subcontractors do they need to carry workmans comp,what if I get hurt on the job???This is in Miami,Fl by the way and I know this is a lot to shove in one question but any help would be greatly appreciated...Thanx

2007-07-09 10:20:06 · 9 answers · asked by spraymonkey001 6 in United States

SORRY - To all those who are so privilaged, they live off the fat of the land. Think of it as bad for the heart.

2007-07-09 09:47:18 · 10 answers · asked by LindaAnn 4 in United States

2007-07-09 09:38:30 · 3 answers · asked by WILL 1 in United States

I want to buy a $300 margarita machine from Williams Sonoma and have the store mail it to a friend in Nicaragua. I don't want to leave this friend with a hefty price tag to pay when he goes to retrieve the machine from customs. Any way to find out how much he would have to pay before I make the purchase?
Thanks so much.

2007-07-09 09:25:32 · 1 answers · asked by Karibuboo 3 in Other - Taxes

2007-07-09 09:22:32 · 1 answers · asked by WILL 1 in United States

If somebody withdraws their stock dividends in their IRA does that count toward the minimum IRA distribution rule?

2007-07-09 09:06:35 · 2 answers · asked by Anonymous in United States

Hi there. I'm trying to figure out what is the max amount of money you can make per year before you have to start paying taxes on your income. For example, say you just babysit, dogwalk, mow lawns, etc. (odds and ends stuff like that) and you are over 18 and on your own, what is the max you can make doing that without having to worry about paying taxes, or self-employment taxes?

2007-07-09 08:57:25 · 2 answers · asked by Karri C 1 in United States

my dad told me the oter day that they take taxes out of your scaery then i was tining that its not fair that thay also make us pay taxes on stuuf like clithes and the taxes at the end of the year P.S sorry for the missspellings i am only 12

2007-07-09 08:52:42 · 4 answers · asked by hailey 1 in United States

2007-07-09 08:47:27 · 5 answers · asked by WILL 1 in United States

2007-07-09 08:27:03 · 3 answers · asked by WILL 1 in United States

OK, so last year my boyfriend worked "under the table" and didn't do his 2005 taxes. I thought he didn't have to since he didn't get any W-2's. So when I did his 2006 taxes, which he did have W-2's, they came back and rejected them because there was nothing on record for 2005. How do we fix this? Are we going to be penalizes?

2007-07-09 08:22:57 · 4 answers · asked by Les 2 in United States

If a job is done for a non-profit organization and it costs $25,000, is any of that elligible for a tax break?

2007-07-09 08:20:38 · 4 answers · asked by Frank M 2 in United States

what percentage of my paycheck should i hold back , I am an independant contractor I have been putting back a third but that seems much so how much should I put my hours vary so I do not have a set amount i get paid.

2007-07-09 08:17:32 · 3 answers · asked by snicoleb04 2 in United States

that they(IRS) had "never received" your tax return?

I think it is quite convenient that my father's return was received (he owed) and my tax return (waiting for a refund) wasn't received...Even though they were sent in the same package.

2007-07-09 08:16:13 · 4 answers · asked by maybe 4 in United States

Hello,
I just got married 2 months ago. My wife attends Denal school (on loans) and I am a full-time engineer. My wife's parents purchased a condo unit about 2 years ago, thinking that we would take over the payments once we got married. Her parents live in Nevada and I know that they paid around $3500 worth of taxes last year. The condo was appraised at $120,000.

My question is once my wife and I take over and transfer the property title and payments from her parents who live in Nevada, what exceptions can we possiblly claim to lower our taxes? Neither of us have ever owned property (first time buyers) and we do not have any children. We are both permanent residents of Texas (Dallas) and she is a full-time student. Is there anything you can think of to help lower this huge tax on us?

Any information would be greatly appreciated!!

2007-07-09 07:44:51 · 3 answers · asked by anilj11 1 in United States

If I made money on the side as a fitness trainer, what would have been the minimum amount I could have not declared?

2007-07-09 07:33:22 · 2 answers · asked by Anonymous in United States