Taxes - July 2007

It's a corporate pension. I will be living in the US. I'm sure there will be taxes to be paid, but I'm looking for the most tax-advantaged way to do it. Thanks!

2007-07-05 08:24:57 · 1 answers · asked by d_91804 1 in United Kingdom

I lived in the condo 2 years prior to renting it for the last four.
My gains on the property are roughly 75000. If I do have to pay does anybody have a rough idea of the percentage or amount i would be taxed?

2007-07-05 07:56:55 · 2 answers · asked by Michael F 4 in United States

My dad and mom bought our house for $275,000 in 1980. They will pass this house down to me, what if I sell it when they pass away for $700,000. I'm single and don't plan to get married so would I pay huge taxes seeing how I would get a $250,000 tax shelter rather than a $500,000 shelter?..........also what if my dad passes away and my mom sells it will she get the $250,000 or $500,000 tax shelter?

2007-07-05 07:52:49 · 5 answers · asked by krumpmaster terrell 4 in United States

2007-07-05 07:49:20 · 21 answers · asked by patti c 1 in United States

2007-07-05 07:47:38 · 5 answers · asked by patti c 1 in United States

I plan to transfer $5000 from the US into Canada and have my money converted into Canadian Dollars. Will the US federal government tax me for my transfer? Will Canada tax me for my money transfer? Any information would be greatly appreciated. Thanks

2007-07-05 07:42:23 · 4 answers · asked by ub6ib9 1 in United States

He earns approx 60 k, I only 20k , will I lose my EIC for this year?

2007-07-05 07:28:52 · 7 answers · asked by kentuckymist1964 1 in United States

Someone told me I could claim up to 2. Single and head of household.... is that right? If not, will that change when my boyfriend moves in?

2007-07-05 07:06:17 · 5 answers · asked by barefootbabee 1 in United States

Can I have an IRA and also a 401K plan at the sametime?

I am planning on getting a Traditional IRA plan so I can put away $4000 tax free for this year. However, my company may possibly introduce a 401K plan soon.

If I invest $4000 in an IRA account this year, and if my company introduces a 401K plan a little later this year, am I allowed to contribute to both IRA & 401K plans in the same year?

FYI, my filing status is married filing jointly and my wife has a 401K plan at her work place.

Would appreciate any guidance here. Thanks.

2007-07-05 06:58:41 · 6 answers · asked by vsdbk 1 in United States

I'm 24 and am moving to another county so I would like to take whatever money I can take with me. Thanks

2007-07-05 06:58:01 · 5 answers · asked by Eliam P 1 in United States

If I bought my house for $275,000 in 1980 and sold it today for $700,000.......what kind of taxes do I pay?........I believe I get a $500,000 tax shelter, but I'm asking this question because I don't know.

2007-07-05 06:38:22 · 8 answers · asked by krumpmaster terrell 4 in United States

If I marry my fiancee, what about his IRS debt? Will I be responsible for it or not??? I own my own business and would not want to owe his tax debt of about $192,000 (bad business partners).

2007-07-05 06:14:56 · 3 answers · asked by Anonymous in United States

I have some money in mutual funds and I am about to sell my house. When I sell my house, the proceeds will be tax free. It will be more than enough to remodel the home I will be moving to. But if I depend upon this money, then I can't start the remodeling until the current house sells. On the other hand, if I cashed in these investments I could begin the work now. I don't know how to decide whether to withdraw the money and start now or wait until the sale to start.

2007-07-05 05:51:40 · 3 answers · asked by plezurgui 6 in United States

2007-07-05 05:50:25 · 3 answers · asked by e_grabin 1 in United States

I had a local tax guy do my taxes and he assured me that everything was going to be ok. Well I got audited and have to back pay the taxes. Can I take him to court and at the least get the fines and interest reimbursed?

2007-07-05 05:47:06 · 3 answers · asked by grasshoper3 1 in United States

As a greencard holder, I pay US taxes when working in the US. I want to know whether I'm still liable to pay US taxes if I work in my home country (but retain my Greencard status in the US).

I'm also trying to get the answer via the IRS website, but still haven't found anything.

2007-07-05 05:38:01 · 3 answers · asked by mamabear 1 in Other - Taxes

Also, do you have to be married in order to receive these advantages?

2007-07-05 05:24:07 · 3 answers · asked by e_grabin 1 in United States

2007-07-05 05:07:59 · 4 answers · asked by sam11stellar 1 in United States

I work for a university in Michigan. I'll be moving to Hawaii in a few weeks. It's a permanent job. My question has two parts:

1. Will I have to file 2 state tax returns for the first year?

2. Would I have to get Hawaiian residency, or could I keep my Michigan residency over there even if I live in Hawaii?

Does anyone know who I might be able to contact regarding this?

2007-07-05 05:00:17 · 11 answers · asked by levampiredeparis 2 in United States

i now find myself unemployed for the first time in 20yrs and basically am going to get bugger all from the government.
p.s. how the hell do you live on £57 a week, with 2 kids an ex wife, a car, bills and oh food?

2007-07-05 04:47:10 · 10 answers · asked by lucky steve 2 in United Kingdom

A.) 2,220.80
B.) 19,619.20
C.)13,531.70

can someone also show me how to work the problem out it would really help me alot.

2007-07-05 04:04:29 · 3 answers · asked by sagen j 1 in United States

How much will my check be with taxes taken out? i claim 3.

2007-07-05 04:00:24 · 3 answers · asked by Anonymous in United States

I'm confused....It's for good we buy to manufacture a final product which will be sold.
We are a custom manufacturer.
Please help. Thank you.

2007-07-05 03:56:24 · 3 answers · asked by POG 1 in United States

Explain to me why the goverment taxes us on income earned for a year and then after we get a refund we have to claim it on the next yeras taxes? That seems like I am being taxed twice for the same income.

2007-07-05 03:38:50 · 4 answers · asked by bulletbob36 3 in Other - Taxes

had to you go about getting people taxes at the end of the year for unpaid rent?

2007-07-05 03:37:45 · 3 answers · asked by tater 4 in United States

NY has been promised help and lower taxes from Clinton, but again it was her way of Lieing to the public- Wait that sounds like her Husband. I guess it runs in the family.

2007-07-05 03:35:59 · 3 answers · asked by bulletbob36 3 in Other - Taxes

It is about British revenue board, I was ask to pay up tax amounted USD 4200 in order to transfer winning prize worth of USD 1.99 M from London to Malaysia.

2007-07-05 03:28:36 · 10 answers · asked by jeremy2006 1 in United Kingdom

2007-07-05 03:13:27 · 5 answers · asked by kim p 1 in United States

2007-07-05 02:54:08 · 9 answers · asked by Sweet M 2 in United States

Is this the reason why when you go in a store there's always a new owner? They'll never have to pay taxes if they just pass the business to the next family member. I can't get the government to loan me three million dollars because my credit score isn't good enough and they're giving away free money, please explain to me what's really going on...

2007-07-05 02:42:13 · 5 answers · asked by Neenah 3 in United States