Taxes - July 2007

we earned our pensions while working and residing in a non-community property state Ill. Husband on social security but I am not. taxes were paid on his wages before he retired. For 2 months now the IRS has been trying to convince me to believe that by calculating my annuity with his S.S.to determine how much it will be taxable is NOT DOUBLE TAXING!.... besides insulting me by saying my annuity is income to my husband, they had the nerve to say I can't exclude one-half of my benefit as he does.After using my item to help insure that his S.S. will be TAXABLE,they expect me to return my aunnity back to line 16b to be taxed along with an additional $9000.....[taxable S.S. as a result of using me to rip my husband off] Who is that S.S. worksheet designed for..?. I believe it is for all my husbands' additional pension wages..etc to be calculated not mine.According to tax publication 555 we live in a Non-Community property state. Do these laws count?IRS won't give a clear answer.JUST PAY !

2007-07-03 17:06:07 · 4 answers · asked by skyy 2 in United States

Im trying to figure out what I shouldnt claim on my W-4 to not have too much money coming out of each paycheck but not too little and same for end of the year.

2007-07-03 16:40:15 · 5 answers · asked by brittani8502 1 in United States

Greenville,Texas If It was mailed on Monday July 2nd,2007 From Ohio?

2007-07-03 16:24:28 · 2 answers · asked by Anonymous in United States

I receive foodstamps, and Ive heard somewhere before that welfare is NOT taxed. Is this true?. Do I have to claim my foods stamps as money i receive, is there anywhere where i check that i receive welfare on my tax return?

2007-07-03 14:00:56 · 5 answers · asked by ProudMoM 2 in United States

My company did it automaticly for me as a 2. I am single and live alone? should i change it?

2007-07-03 12:59:41 · 9 answers · asked by MICHAEL P 2 in United States

I currently make around $50K but I live in the San Francisco Bay Area, so that isn't that much due to the high cost of living. I love painting and have decided to start a side business selling my work.

I plan on making between $5k - $20K this year from the business. How much am I going to have to pay in taxes on this additional income? I am not married. From the research I have done, is this info accurate?

Federal Tax = 25%
California State = 9.3%
Self Imployment Tax = 15.3%
Sales Tax = 8.25%

Total = 57.85% (not including insurance for business, extra licensing, permits to sell work, and the ton of other business expenses)

This is starting to scare me and I am wondering how anyone can ever make a profit? Please help...maybe I won't go into business, it isn't worth my time to only pocket 10% - 20% profit. I don't want to be making less than minimum wage with the skills I have!

2007-07-03 12:38:40 · 6 answers · asked by Erik 1 in United States

Is the money I use to purchase Municipal bonds considered tax deferred until the bond has matured?

2007-07-03 12:22:45 · 3 answers · asked by Julie P 1 in United States

2007-07-03 12:03:18 · 2 answers · asked by AccountingAC 1 in Other - Taxes

In california, and if I fill out my withholdings form correctly (no tax liability and no refund at end of year). Trying to set up budget for a job starting August 30.

2007-07-03 11:35:18 · 4 answers · asked by Jared 1 in United States

I'm hoping I could get some advice as i am pretty inexperienced with all this....

I've found something I can sell on e-bay which I will just list under a personal account - and perhaps open a shop if it sells well - I will be registered as self employed so that I pay all taxes due....

I will use a seperate personal account for all the transactions.

Is this all legal and ok?

Would I have to register a business name, get a business account or do anything else?

Also, since I'm not a business - will I still be exempt from business rates on council tax ?

Many thanks for any advice.

2007-07-03 11:04:09 · 2 answers · asked by Anonymous in United Kingdom

I am expecting my first-born child in February 15, 2008. What I want to know is in General what is the stander tax deduction for a baby? Also what if any can I deduct for my HMO
Co-pay?

Thank you,
JobG

2007-07-03 10:20:44 · 6 answers · asked by PhillyGuy 3 in United States

I'm going to work overseas for a company who says I will have to pay all taxes, I am going for 3 months periodsbwith one month in between. what taxes and where can I find the info.

2007-07-03 09:56:20 · 3 answers · asked by pjrob52 1 in United States

My husband and I recently took new jobs and have to fill out the w-4's for taxes.

We file jointly, own our home, have a daughter, and like to have plenty withheld to cover our taxes at the end of the year.

If we both check married, no exemptions on the w-4, will we likely have enough withheld by the end of the year to cover everything, or should only one of us claim "married" and the other check "single". I don't want to make a mistake and not get a refund next year, but also want to make sure the govt isn't getting too much extra of our money...

Thanks for the answers.

2007-07-03 08:37:01 · 3 answers · asked by Jenni M 1 in United States

I have a sole prop and park my equipment in the yard. The equipment is destroying the grass so I was going to pay and have my driveway extended so I could have a place to park my equipment. I am claiming the In Home Office expense already. Can I deduct the cost against my business? If so, how? Would I need to have the business pay me personally rent for the use of my personal area and then deduct the expense against any rental income I choose to "have the business pay me"?

2007-07-03 08:19:45 · 5 answers · asked by David S 4 in United States

2007-07-03 08:18:59 · 23 answers · asked by jasmondo 1 in United Kingdom

What is the total for something that is 24.44 ............ but u have to have tax... so what it the final total?

2007-07-03 07:58:20 · 5 answers · asked by bell_15 1 in United States

misled you when you filed your tax return and you found out they were giving you illegal advise to get more money back? Then you and your spouse got audited. You owe almost $4,000 and the tax person refuses to refund you your money?

Is there any where to report this person to?

2007-07-03 07:56:02 · 3 answers · asked by hsp_goddess 2 in United States

The year is 2006. Husband and wife file separately. One of the spouses owes income taxes. Can the IRS collect from the other spouse even though they filed separately.

2007-07-03 07:45:27 · 7 answers · asked by 1swing4all 2 in United States

Each project will be approx $4000 (computer programming work). I have a full-time job and I'm going to do this work on the side during the weekends. Is there anyway to give the government their cut after each job? I hate trying to put money away to pay for taxes not knowing if it is too much or too little.

Could I setup an LLC and pay the taxes that way? Is there anyway to treat this seperate from my normal income taxes?

I'm not sure what the best way to handle this is.

Thanks.

2007-07-03 07:38:21 · 4 answers · asked by Guest 1 in United States

Does this credit basically give you an extra thousand dollars in your tax return? I paid my ex $600.00 2 years ago in taxes for our son. Now this year he is saying I owe him $1600.00. Can anyone out there please help in this. Also, he makes too much for EIC.

2007-07-03 07:11:21 · 4 answers · asked by sheri c 2 in United States

2007-07-03 07:06:16 · 2 answers · asked by leah69 1 in Other - Taxes

I am a 16 year old in Ohio with one mother, one father, and one brother. I have a summer job and I am taxed on my paychecks. People tell me that I can get the money they are taxing me for back. How do I go about this? My Dad says we can not get it back because he files the taxes as a family and not induvidually. There is also something about being a dependent. I would like this money back. How do I get it back?

2007-07-03 06:55:43 · 6 answers · asked by lazz41 1 in United States

a. Everything is included in gross income, unless it is specifically excluded from income. (True or False)
b. A tax credit provides for a greater tax benefit than a tax deduction. (True or False)

2007-07-03 05:54:34 · 4 answers · asked by uncivilized_scholar 2 in United States

Can I deposit $2001,00. and take $9999.00 in less cash without filling out a form for the IRS?

2007-07-03 05:42:12 · 8 answers · asked by charlotte q 2 in United States

2007-07-03 05:29:47 · 6 answers · asked by Suzette 2 in United States

2007-07-03 04:59:59 · 5 answers · asked by Slapshot88 3 in United States

2007-07-03 04:32:48 · 14 answers · asked by ondamax1 1 in United States

2007-07-03 04:23:59 · 4 answers · asked by TommyDean 1 in United States

when you resale them? why or why not?

2007-07-03 02:47:18 · 2 answers · asked by kayzarty 2 in United States

I currently get paid 25p per mile and we recieved this email yesterday. Is this legal and can it be challenged?

Gents,

With immediate effect, can we please make sure that every expense sheet submitted has fuel receipts attached from now on - the value of which MUST be greater than what you are claiming for (ie - if you are claiming mileage expense for £25 - the fuel receipts must be greater than £25). As also highlighted by BLANK, every site/area also needs to be listed on the sheets as well!

If your expenses do not have the above items (listed or attached) then I will be unable to pay them until they are completed correctly & are compliant regarding the "tax liability" perspective.

2007-07-03 02:35:00 · 4 answers · asked by kojak 1 in United Kingdom