Taxes - July 2007

have a federal id number or ein number? if so why? please explain.

2007-07-03 02:25:10 · 4 answers · asked by kayzarty 2 in United States

2007-07-03 02:01:51 · 4 answers · asked by ? 2 in United States

2007-07-03 01:25:36 · 15 answers · asked by Mandy 2 in United States

I pay taxes with my monthly mortgage payment around $300 a month but i received a quarterly tax bill from the town today for around 800. What should i do with the bill? My mortgage broker is away so thought someone out ther would know.

2007-07-03 01:13:11 · 7 answers · asked by Carbon steel 2 in United States

I vested 100% of my stock in a small company - 1% ownership total - and have left. They've offered me a buyout. As part trying to convince me to take it, they've stated that I'm liable for 1% of the taxes on company income. The company took on investors last month and will not distribute dividends until they've paid the investor back, but claim I would owe taxes on income anyway. Quoting:

"Even though no dividends are allocated, all vested Stock in terms of taxes for LLC’s classified as partnerships for federal income tax purposes file Form 1065 at year's end. Income from the business is reporting to the partners (share-holders) on Form K-1. This “flows” to your personal income tax return Form 1040. If the business has net income of $1M for the year and you own 1% of business, your K-1 will have $10,000 taxable income. You should make estimated tax payments on Form 1040-ES. This income is also subject to self-employment tax of 12.4% up to $97,500 and 2.9% with no cap."

Truth?

2007-07-02 22:14:23 · 3 answers · asked by SanJoseStanleyCup 1 in United States

how do i claim vat back when leaving the uk and travel back to africa

2007-07-02 22:05:12 · 2 answers · asked by dvonmarthairbraids1 2 in United Kingdom

Every Country has its own Tax Laws. Some impose higher taxes than others. On the other hand, some countries provide conditional "Income Tax Holidays" (ITH) as a way of enticing Investments. It is said that some Businesses are registered in "Tax Haven" Countries to save &/or to avoid on Tax Payments. How could this be if ALL Business Firms (Foreign &/or Local) not entitled to ITH are to pay taxes wherever they derive Income?

2007-07-02 22:00:38 · 3 answers · asked by manilaman 1 in Other - Taxes

Im a broker for limo service. what tax form do i give drivers that have there own cars, like ill i do is give them work but they dont work for me, there just privet drivers and to companys that have there own fleet of cars. so when i file my taxes i could show where the %80 of the profit whent to. can some one help plase

2007-07-02 21:27:07 · 2 answers · asked by Anonymous in United States

My friend told me it is about 18.5% for married. But I saw withholding tax is not more than 10% in most web pages. Can somebody explain me why? Are there other taxes?

Thanks.

2007-07-02 19:25:36 · 2 answers · asked by A Z 1 in United States

2007-07-02 18:54:19 · 6 answers · asked by jay 2 in United States

This is a semi two part question. I am selling domains and websites, so I assume that it would just be assets since there is no inventory of any kind. I am looking to take the "profits" or gains from the sale of these websites and create a secondary company to reinvest the business funds into real property. Specifically purchase two homes here in Southern California. Is this a way to avoid paying on the capital gains? I'm a sole proprietor and taking a 30% hit could mean hundreds of thousands of dollars. The second part of that question is I will be essentially buying my own home and putting it under the company as well. All in all I am looking for the best ways to reinvest the funds to pay as little as possible, with my primary goal paying off both of these homes.

Any thoughts? Also after reading through many other questions the assets are over two years old, if that matters in business transactions.

2007-07-02 18:16:29 · 3 answers · asked by king_fish_ii 1 in United States

For Salaries people, for Proprietors and for Pvt. ltd. Companies waht is the last date of filing return of Income Tax?

2007-07-02 17:36:11 · 6 answers · asked by sujatagmehendale 1 in Other - Taxes

Hi I have a question related to self-employed tax. I started earning income for my services in mid-June (paid in July) of this year. At year-end, can I deduct expenses related to my business even though it was incurred prior to my earnings in June? For instance, can I deduct business expenses incurred in April?

2007-07-02 17:24:31 · 3 answers · asked by heuiim 2 in United States

i will be returning to block for my second tax season. i have a notice that says i am required to take Ethics before i begin.
what is Ethics and is there another name for the class. i am signing up for my fall class and there is not an option with that name.

2007-07-02 17:14:07 · 2 answers · asked by bootleg 3 in United States

2007-07-02 15:55:13 · 4 answers · asked by angel_rat_83 1 in United States

2007-07-02 15:54:03 · 4 answers · asked by angel_rat_83 1 in United States

if interest is deductable, why would the interest rate matter?

2007-07-02 15:38:01 · 5 answers · asked by Turtle 1 in United States

2007-07-02 15:36:14 · 6 answers · asked by steph 1 in United States

i recieved a letter saying I OWE $4400 from 2005, it seems that I had stock sales where they dont have a cost basis for me, so when they saw that i made money on stocks, they are not taking into consideration the amount i paid for the stocks, even though i filled out a schedule Dshowing what i paid and what i sold them for, they are not inclding what i paid and claiming the whole sale of the stocks as capital gains, even though on some of the stocks i lost money on. what's the deal,, dont they have my schedule d?? it wasnt even for all my stocks just a few of them. .anyone ever get tihs type of letter??

2007-07-02 14:00:56 · 4 answers · asked by rn491964 3 in United States

2007-07-02 13:59:11 · 2 answers · asked by gd1961@verizon.net 1 in United States

I need the federal tax ID number for St. Josephs School in Joliet, IL. They are closed for the summer and I cant find it online......

2007-07-02 12:47:14 · 11 answers · asked by brett m 1 in United States

2007-07-02 12:37:46 · 1 answers · asked by lisamarierichdean 1 in United Kingdom

I have taken up a job in Memphis, TN where there is no state tax. But the company through which i am working is based in the Chicago, IL where they have state tax. DO i have to pay state tax even though i am living in TN.

2007-07-02 11:59:16 · 2 answers · asked by Razious R 1 in United States

2007-07-02 11:58:39 · 3 answers · asked by ShortyD 1 in United States

I e-mailed this person back asking what I had to do. Of course he said supply him with some personal information that would only be used for claiming the winnings. This isn't the first e-mail I've received. Please is this legit or not? God if it were I'd jump at it then again that's what this person is probably hoping.

2007-07-02 11:36:00 · 11 answers · asked by faultline92103 1 in United Kingdom

I have a vacant lot in the city which has no value. If I let it go back to the county for unpaid taxes will it affect my credit score?

2007-07-02 11:18:05 · 3 answers · asked by Kelly 1 in Other - Taxes

This question actually relates to both parties in this equation.
The borrower walks, the bank writes of the loan as a loss? I imagine then the bank does this to seek some form of tax break for the loss?

The borrower is hit with a charge off or/and foreclosure, and if the bank doesnt recoup what is owed doesnt the balance get reported as a gift or at least have some tax consequences for the borrower?
I am stuck on both sides of this fence right now, I have private investors going belly up due to loans that have not been repaid, and I have borrowers thinking they can just walk because the banks arent exactly giving any sort of leiniancy for having always paid the loan on time. I feel for both sides but they both want answers and I dont have them. I am trying to urge them to go talk to tax advisors.

2007-07-02 11:01:26 · 2 answers · asked by Jacque w 3 in United States

what is the reason to have employees fill out a 1099 tax form??

2007-07-02 10:41:18 · 5 answers · asked by Ryan 1 in Other - Taxes

would i have to contact the IRS or would i have to contact my previous employer. i did not file at all in 2005, i missplaced my w2's

please help

2007-07-02 10:11:06 · 5 answers · asked by cute L 2 in United States

I'm a new 1099 employee. How do I file taxes--quarterly? What's the first step? I'm new to this. I receive a paycheck every week, but since I'm not full-time, my employer doesn't take out any taxes. What do I need to do to report and pay taxes? My husband works full-time, and we've always filed a joint annual return in the past--how does this affect his filing?

2007-07-02 08:58:20 · 8 answers · asked by bodotdot 2 in United States