Taxes - August 2007

what is the maximum % of net profit which can be distributed as remunaration to the partners.?????

Please give the answer with the section or rule specific.

What are the advantages and dis advantages of dowing so.

2007-08-19 06:31:15 · 2 answers · asked by Bijeet 2 in India

What are the conditions that make you eligible to claim for this sort of benefit?

I know it has something to do with how much you currently earn

Could someone explain??

2007-08-19 06:21:56 · 4 answers · asked by Rebz 5 in United Kingdom

I'm thinking of starting a project that would require monetary donations and also donations of clothing. How could I make these donations tax deductible for the person donating?

2007-08-19 05:58:30 · 6 answers · asked by ? 4 in United States

2007-08-19 05:23:09 · 12 answers · asked by alicia b 1 in United States

I would like to find out your opinions on tax havens, if you think that the rich pay more to charities because they pay less taxes and if you think by investing money in charities it makes it ok for the rich to invest in tax havens and therefore save on taxes

2007-08-19 04:46:55 · 4 answers · asked by Anonymous in Other - Taxes

2007-08-19 04:32:49 · 3 answers · asked by autie_808 2 in United States

I have lived in a condo for just under 4 years. I have owned the place for 19-20 months and my place is on the market.

I moved in with an agreement with the developer to buy the place on certain terms. The developed reneged and we had to litigate for a year to get the original terms.

If I had bought when I should have, I would have owned my place for nearly 3 years by now.

According the IRS I meed the usage test but I do not meet the ownership test when considering the actual date of purchase.

Is there some type of exception for someone like me who was in litigation with the developer and seller to exclude some of the capital gains on the property?

2007-08-19 04:17:47 · 4 answers · asked by damkoi 2 in United States

I have a carry over loss of $ 10 k from 2006.

In 2007 , I have a short term cap loss of $ 10 k
In 2007 , I also have a capital gain of $ 20 K

Pls could you tell me how much will i owe - the IRS if i shut down my accounts for the rest of the year :( - I just need a good nights sleep. - For those of you thinking of day trading - Dont Do It

Thanks

2007-08-19 04:07:32 · 2 answers · asked by Vijay H 2 in United States

2007-08-19 03:55:01 · 4 answers · asked by TandL 3 in United States

How do you fill your tax forms in when you have 2 or more e-bay shops and other websites? The tax forms will ask for the name and nature of the business particularly when you register for self-employment. How do you sort out the tax returns? Many thanks in advance for any advice.

2007-08-19 01:21:24 · 1 answers · asked by Anonymous in United Kingdom

I just filed a W9 form and I want to know if when tax time comes around, if I have to file taxes or whatever you need to do. Do I just file this form and get my money and not worry about it again? Or do I have to do more things with the IRS once I file the W-9? I know what it is, I just don't know what happens.

2007-08-18 20:52:17 · 3 answers · asked by diesel_478 2 in Other - Taxes

I was wondering if a dental procedure such as veneers can be written off. Does it matter what i have listed on my taxes as my proffesion? It wouldn't be a totally aesthetic reason, i do need dental work, but i figured it might be easier to kill two birds with one stone. Any advise will help. Thank you.

2007-08-18 20:33:26 · 7 answers · asked by Anonymous in United States

If I make $120 a week (20 hours, $6 an hour), how much would I have after taxes? I don't know if this is important or not but im a single 17 year old.

2007-08-18 19:36:05 · 8 answers · asked by Anonymous in United States

this week I made $463.50 this is my first pay check.. how much will it be after taxes?

2007-08-18 17:03:33 · 9 answers · asked by Anonymous in United States

I am a resident of New York City & I recently started my first full-time job. I was told my annual salary will be $35,100 and will get paid bi-weekly. I was wondering if there is a website or something where I can calculate how much my paycheck would be once taxes are taken out? I'm not sure if this matters but on my W-4 I have a total of 2 personal allowances (not a dependent & single w/ one job). Thank you.

2007-08-18 16:54:09 · 4 answers · asked by stw07 1 in United States

This money came from an IRA and I gave the four of them 5k each. How do I prove I gave it away when my form shows the total amount is taxable?

2007-08-18 15:54:37 · 11 answers · asked by Anonymous in United States

I put I was exempt on my W-4's in March but, i changed it last month July because I realized I was earning too much to be exempt. As a result they haven't taken enough out from my paychecks. Is there anyway I can have this resolved now before the end of the year is over? Am I going to have to go to jail? The amount I made was around 6,000 dollars. I am a good student, dean's list with a double major. I had hoped to apply to graduate schools in the fall. I have no criminal record. Is this one mistake going to ruin my life? Is there anyway I can pay back what I owe now?

2007-08-18 14:46:57 · 33 answers · asked by Anonymous in United States

If I am self employed and my spouse makes 4 times more than I do, do I still have to pay quarterly estimated taxes if at the end of the year we will receive a refund as married filing jointly? Or do I still have to send something in every quarter? I just want to do the correct thing. thanks.

2007-08-18 14:24:42 · 4 answers · asked by Luv2Answer 7 in United States

My friend at work says that she files her taxes before the next year has come so she gets the federal taxes back is this true can that be done...ex: she filed her jan 07 to jun07 federal tax in july 07 and got back all of her federal taxes that have been taken since jan 07

2007-08-18 12:30:23 · 6 answers · asked by Anonymous in United States

Okay, so gambling winnings must be declared as taxable income for federal and state taxes.

What happens if you happen to win a big prize on the exact same day you move from one state to another? Which of the 2 states do you pay state income tax to? Are you stuck paying to both states?

State A you lived in the first 5 months out of the year. State B you lived in the remaining 7 months.

Again, the taxable income (value of the winnings) was incurred on the exact day you moved from State A to State B.

2007-08-18 11:05:55 · 9 answers · asked by notshyviolet 2 in United States

2007-08-18 10:49:56 · 3 answers · asked by qaz7070 3 in United Kingdom

2007-08-18 10:43:14 · 2 answers · asked by Anonymous in United States

If I have stock that sells for a million dollars can I take the money and then stick it in the bank and draw interest on it and then pay taxes on the interest? Or will I have to pay taxes on the million and then more taxes on whatever I put into the bank?

Thanks!

2007-08-18 10:29:20 · 4 answers · asked by Da Phantom 2 in United States

Can these expenses be deducted from my 2007 taxes?

2007-08-18 09:42:30 · 12 answers · asked by cl3v3r boy 3 in United States

all bills proposing federal taxes must begain in the house of representatives true or false

2007-08-18 09:24:18 · 2 answers · asked by Anonymous in United States

I have a Singapore Company and a BVI Company. The services that I carry out in Japan are taken up in BVI company. But Singapore company signs the contract with my Japanese customers as agent for my BVI company. Will there be tax payable on the income from Japan that is paid to my BVI company? I think this is offshore services so should be tax-free?

2007-08-18 08:38:26 · 2 answers · asked by Blurr 1 in Other - Taxes

2007-08-18 08:09:03 · 4 answers · asked by Ms. Mee 1 in United States

The rule where you receive about $800 per child for up to 3 children as a single parent I believe.

2007-08-18 08:05:04 · 3 answers · asked by Rachel 2 in United States

2007-08-18 07:52:46 · 6 answers · asked by Anonymous in United States

I'm a Locum Tenens employee working in California while maintaining my tax home in Arizona. I imagine I file non-resident CA income taxes, but do I also have to file AZ state taxes? Doesn't seem fair if I have to pay twice!

2007-08-18 07:30:48 · 4 answers · asked by synergism721 1 in Other - Taxes