Taxes - August 2007

2007-08-20 14:27:32 · 4 answers · asked by Salami and Orange Juice 5 in United States

2007-08-20 13:25:47 · 5 answers · asked by stockpro 1 in United States

I am paying for 3 kids child support, My weekly net is 181.33, my child support net is 224.77 shouldnt there be only a percentage taken out?

2007-08-20 13:21:21 · 1 answers · asked by jc 1 in United Kingdom

He told me that he could save me $3000 per year if I become a LLC? It would cost me bet $600 to $800 a year to pay him to administer this.

Has anyone else done this? I would love to hear from hair stylist or other people who are self employed.

Thank you!

2007-08-20 13:20:25 · 3 answers · asked by asldfkjdfj 5 in United States

This has been bugging me--in Calfornia we are required by state law to have auto insurance and we have to purchase it from private companies.
Since the state requires this I think we should be able to deduct the amount of the premiums from our taxable income on our state tax returns.
Does this make sense to anyone else? Serious answers only please--
Thanks

2007-08-20 13:02:27 · 10 answers · asked by Susan T 1 in United States

We have not filed my husbands 2005 or 2006 1099's. We couldn't afford to pay. We are definatly filing at the beginning of this year. The 2005 1099 was for about 31,000. And the 2006 1099 was for about 34,000. We really want to clear this up and get straight with the IRS. He now has taxes taken out of his check. My question is....when we get a huge bill to pay back how does the IRS go about computing how much you pay back and when? Also if we can't afford the bill can we file bankruptcy on taxes? We are terrified for the beginning of the year to come because we are so afraid of how this is going to hurt us finacially. Any advice or help would be appreciated. Thanks!

2007-08-20 12:40:32 · 5 answers · asked by wondering247 3 in United States

Can I carry forward the rental property loss? up to how much can i deduct the loss and how many year can i carry forward. thanks

2007-08-20 12:37:11 · 3 answers · asked by Anonymous in United States

Please someone with experience in taxation can explain to me how this is legal?
Lets say I bought a car for $60,000 dollars and I paid 7% ($4,200) dollars tax at the time to register the car (this is not leasing) after two years If I sell the car for $50,000 dollars the new buyer will have to pay $3,500 dollars in taxes. If the second buyer sells the car one more time the third buyer will also have to pay taxes again. Ok since the government is collecting taxes from every sells, why is the first owner of the car is not entitled to get back his taxes since only its been used for the $10,000 worth of the car, is there any law a such? please serious answers only.

2007-08-20 12:36:45 · 3 answers · asked by Zarzoorner 3 in United States

is there any way that i can retrieve my tax information (gross income) from last year's filed taxes? is there somewhere online i can get all the information from?

2007-08-20 11:28:24 · 5 answers · asked by redhot787 2 in United States

2007-08-20 10:41:28 · 6 answers · asked by thekilpatrickfamily 2 in Other - Taxes

My wife and I are starting a company in California. Most likely only my wife and I will be the only people that will work for the company so we don't plan to pay employees in the near future, however if we expanded in a few years, we definitely could. From a tax / profit standpoint, which should we choose? I know that LLCs are easier in a number of ways but which will save us money? I do know that LLCs have $800 minimum to pay per year to operate in the state.

I have heard people say one or the other but not really cite the true facts, %, and numbers that would be paid for each.

Thanks for your help!

2007-08-20 10:23:32 · 6 answers · asked by NC 1 in United States

i hear anything for 10-30%

i live in texas

2007-08-20 10:18:32 · 5 answers · asked by kristiW 4 in United States

http://uk.answers.yahoo.com/question/index?qid=20070820042049AAhWXI4&r=w

How did you work out 4725 can you break it down for me please "Roughly speaking the tax on the dividend would be £4,725 less the credit of £3,555 equals £1,170 tax to pay." - thankyou for a brilliant explanation

how did you get £3,555

2007-08-20 09:52:39 · 2 answers · asked by tapmadi 1 in United Kingdom

last year I filed for my taxes online and now I am needing to fill out this form thats asking how much my return was and I dont have a copy of my tax return and I cant remember what site I used, I know its not turbo tax, I think it starts with an E (not e-file) can anyone tell me some e-file sites?

2007-08-20 09:29:24 · 4 answers · asked by brittany_michelle_3 1 in United States

I am looking for a online service or a place to retrieve my w2 records. I would prefer not to have to pay for my own records?

2007-08-20 09:01:13 · 6 answers · asked by Jason 2 in United States

well. this is my first job. and im confused. it says
A - Enter "1" for YOURSELF if no one else can claim you as a dependent. im a teenager. so how would i fill this out?

2007-08-20 08:53:07 · 2 answers · asked by tien t 2 in Other - Taxes

I have been asked if I want them to take the minimum amount of withholdings or the maximum - but I don't know where to find out this info!

How much will I be getting?

Many many Thanks!

2007-08-20 08:41:51 · 1 answers · asked by James W 2 in United States

2007-08-20 08:31:22 · 5 answers · asked by Anonymous in United Kingdom

How can I minimize the penalties and interest? We now estimate that more tax will be due than what was paid with the 4/15/07 extension, but we won't have all the info needed to file the return til 10/15/07 (due to some late K-1s).

2007-08-20 08:26:48 · 3 answers · asked by BruceN 7 in United States

i recieved a notice for cancellation of debt as income. i volantarily gave back a car in 1996. the loan was never completely paid off. toyota reported it in 2005. the car was never used for any type of bussiness purpose nor was any part of the car used as a deduction. am i responsible to pay this? its been 11 years so i no longer have any paperwork about the reposession.

2007-08-20 08:15:07 · 9 answers · asked by spaghetti 5 in United States

For a single person with no dependents

2007-08-20 07:50:31 · 2 answers · asked by Anonymous in United States

2007-08-20 07:37:21 · 5 answers · asked by ElU 2 in Other - Taxes

Is there anyway i can do my Income Tax Return from home using my own laptop? if so, what will i need ? please be specific when answering.

2007-08-20 07:24:11 · 4 answers · asked by AnGeLo 1 in United States

My daughter has a very good friend who is 16 years old her mother has been living where ever she could live and some of the places were awfull.The dept of children services were going to put her and put her in a foster home if she did not find a place to stay. since we knew this girl for yrs we took her in she is a very sweet girl.The thing she has been living with us since the 1st of march and her mom has gave us 40.00.The question is since were taking care of her can we claim her as a dependent?

2007-08-20 07:03:33 · 6 answers · asked by lynda p 3 in United States

I will be having a friend of the family coming to watch my daughter in my house for 150/week.
She is older and I dont think she will be claiming this on taxes, which means I cant claim it on taxes for a break.

Should I request that she claim it so I can get a tax break?? How do I go about this, Im new.

2007-08-20 07:03:01 · 2 answers · asked by MommyTwice-TwiceTheLove 4 in Other - Taxes

I recently donated about 14 bags of cloths to the Salvation Army. All of the cloths were in great condition amd some of them were even brand new. I used the valuation guide the Salvation Army had for donated items and it looks like I donated about $2,300.00 worth of clothing. I normally file a 1040EZ as I do not own a home or have intrest on any accounts to claim. Would I benefit by itemizing these contributions? More specifically would I get more money back itemizing rather than taking the standard deduction on the 1040EZ?

2007-08-20 06:54:36 · 5 answers · asked by woodybmi 3 in United States

I am an independent contractor and am contracting myself out through my own business. I have an accountant, but I am still not understanding how exactly business taxes work. For example, if I make $10,000 per month, how much exactly will taxes be (both state & federal)

In addition, what can I do so between paycheck & tax filing time to allow me to keep as much of my paycheck as possible (legally) So, lets say I make 10K, someway that I only pay 2K (or nothing!) in taxes.

Oh yeah, I'm in the state of maryland.

2007-08-20 06:47:42 · 6 answers · asked by Kylie 1 in Other - Taxes

i just found out i can claim copays and prescriptions on my taxes right? so can i claim the cost of the doctors visit?

2007-08-20 06:26:13 · 4 answers · asked by sabercat700 2 in Other - Taxes

I am starting to invest my money in stocks. How can I get a tax ID since I never had any income before?

2007-08-20 06:05:57 · 5 answers · asked by Ali 1 in United States

IM MOVING IN ABOUT A MONTH AND I INFORMED MY EMPLOYER. WELL MY EMPLOYER TOLD ME TO LET'EM EXACTLY WHEN THIS CHANGE HAPPENS FOR THEY WILL HAVE TO MAKE CHANGES IN MY CHECKS FOR ME TO PAY THE NEW STATE TAX. AND I WOULD HAVE TO DO BOTH STATES WHEN I DO MY YEARLY TAXES THIS SEASON COMING. IS THIS TRUE? IS THAT HOW IT WORKS OR ARE THEY LEAVING SOMETHING OUT THAT WOULD HELP ME UNDERSTAND ENTIRELY WHAT THEY MEAN?

2007-08-20 06:04:37 · 5 answers · asked by hotkitty 1 in United States