Taxes - August 2007

a.Car
b.Credit cards
c.Investment
d. Save in education for you or your children
e. Other

2007-08-12 12:58:26 · 5 answers · asked by Laura L 1 in United States

I'm a US citizen living temporarily in France under a student visa. I got an offer recently to work for a translation agency based in France ~ it is at-home work, paid by word/project. If this were salaried employment, I'd pay taxes to the French govt, file a US income tax form and get a credit for the French taxes (and most likely pay no US taxes, as a result). But this is freelance. In general, freelancers need to get a work permit/carte de sejour to conduct business in France, but I'm not looking to set up my own business. I just want to work a little in my free time (I'm a full time student). I've met people who work outside the US, sometimes months at a time, but they always declare income/pay taxes to the US, not the country they're visiting. Even though I have the added factor of temporary residency in France, I think I should still be able to do the same. Is this the case? And if so, what hoops do I have to jump thru? Like do I have to get paid into my US bank account?

2007-08-12 12:10:53 · 4 answers · asked by soho 3 in United States

2007-08-12 12:01:38 · 3 answers · asked by Anonymous in United States

I'm trying to figure out my allowances and child tax-credit. I am a new hire e with my new employer and I'm confused.
Here's my situation.
-married for like 4 years
-New Born son this year (1 only)
-Will be making an estimated 45k for this year
-Spouse doesn't work

By following the rules on the W-4 form I came up with 6 allowances.

Personal Allowances on W-4
A) 1
B) 1
C) 1
D) 1
G) 2 (I believe eligible because salary under 57k)
H) 6 (Total)

Sounds Correct? Help Please!!

2007-08-12 11:05:01 · 5 answers · asked by jklvpd62 2 in United States

Can anyone recommend some good and easy to use tax software for a beginning tax preparer? I am looking at Intuit's ProSeries - are there any other programs I need to consider? I will be doing 1040's and state taxes. Thanks!

2007-08-12 10:56:32 · 5 answers · asked by Shay 4 in United States

Hi! My parents recently turned in their 2003 tax return. They received a refund check from the IRS. Now, like a month and a half later, they receive a notice of examination and want a bunch of information. Is this some type of glitch or can they come back after issuing a refund and decide to audit you? Thanks.

2007-08-12 10:56:14 · 9 answers · asked by Dres 2 in United States

if you are single, claiming for one job that will make 3,500 by the end of december?

2007-08-12 09:51:18 · 1 answers · asked by skippingbeats 1 in United States

http://answers.yahoo.com/question/index;_ylt=AqTSeLgoW8DcsCjR9v_a87bsy6IX?qid=20070806110312AA41jhR

This is the last question I asked, And so.. Ive already sold over $1200 but still gonna make another 1000 off their products, I get my cut of 15% How do I start filling out my taxes? Im done with ebay in 2 months... Should I get everything then? I dont want to be taxed on items i sold for them when Im only making 15%

Also if you answer this question.... Why can they be taxed? When they were already taxed when they bought the items?

2007-08-12 09:30:57 · 3 answers · asked by Anonymous in United States

2007-08-12 09:28:36 · 5 answers · asked by Josep 1 in United States

I am planning on opening a small business with in the next year. I am trying to find out how my taxes will change. Is it true that i will have to pay in taxes every three months? How is this calculated? What taxes will i pay (federal, state, S.S, medicare)? what percentage of my imcome will i have to pay each quarter? I have three children, will i still be able to claim EIC? Any and all info would be a huge help. Thank you

2007-08-12 08:53:02 · 2 answers · asked by Anonymous in United States

2007-08-12 08:25:36 · 2 answers · asked by jessica p 1 in Canada

what is the difference between a federal id number, a resale license/number and a business license?

2007-08-12 07:17:13 · 3 answers · asked by rikdi2 1 in United States

I want to sell my income property and I want to know if there is a time limit to pay taxes on the gains, or I have to pay the taxes once I get the money. I want to invest in something else but I don't really know what ,so I wanted some time to think about it and that's why I wanted to know if there is a time limit. Can somebody help me? Thanks

2007-08-12 06:59:57 · 2 answers · asked by marta m 1 in United Kingdom

Is there a maximum income one can receive from a pension plan?

2007-08-12 05:53:23 · 5 answers · asked by Mark S 1 in United States

I'm curious for future business planning.

Lets say I start a business this year. I spend $1500 on a computer and supplies and only have a total of $1750 in money come back.

Is $1750 part of my AGI? I haven't exactly "earned" $1750 because I spent $1500. I only "made" $250.

I suppose what I'm wondering is do deductions come off my AGI?

Thanks.

2007-08-12 05:52:21 · 4 answers · asked by Anonymous in United States

I was 18 years old when i did my tax for 2006. I filed a depended because i go to school fulltime. Then i also filed a property too- to which on my suprise the dept of revenue just sent me around 300$ today.

Can i still get money from my property even though i filed depended of my Mother?

2007-08-12 04:45:56 · 1 answers · asked by Anonymous in United States

I've ordered £190 worth of herbs and incense from an online store in america... will I have to pay customs tax when they get delivered here in the UK and if so, how much would this be?

Is there any way of avoiding the charge? Could I ask the shop to write that it is a gift on the front?

Any advice would be greatly appreciated. Thanks

2007-08-12 04:40:35 · 6 answers · asked by jenny84 4 in United Kingdom

I got a notice in June that I owed $3,800 for unreported interest earned from stocks. I contacted my tax prepareer and after I got all the necessary forms together, we sent in the paperwork to the IRS. With this paperwork, I should have owed nothing. I checked the box saying I didn't agree with their ammended return and mailed the paperwork to prove it.

Now, I have received another notice from the IRS saying I owe them money. It's like they never received my paperwork from before, but I sent it certified and checked the USPS website and it has been delivered.

I plan on calling my tax preparation person tomorrow, but in the meantime, does anyone know what could be going on?

2007-08-12 03:52:26 · 10 answers · asked by roomwithaview 3 in United States

I am doing some small business, which is strictly wholesale. In Dec2006, I sold out my product to my customers and invoiced them in Dec 2006. But I receive actual payment some in last December and the balance in January.
Also the invoices I received from my supplier were all dated in Oct2006. I paid my supplier, some in December and the balance in Jan too.
If my fiscal date ends on Dec31,2006, for money receivable and payable after Dec31,2006, should I roll the payment received from my customer and payment I made to my supplier after Dec31,2006 into fiscal year 2007 or count this money in fiscal year 2006?

Thanks for answering.

2007-08-12 03:33:36 · 4 answers · asked by Kevin Y 1 in United Kingdom

How much is it?
I got my first paycheck last Friday and they took out 7.2%.

My parents don't know how much it is.
I am single, 18 years old.

Isn't 7.2% a bit too much? Is that federel/state?

I also already tried searching but couldn't really understand anything.

Thanks

2007-08-12 02:10:54 · 4 answers · asked by Batak 3 in United States

2007-08-11 21:02:16 · 1 answers · asked by manoranjan n 1 in India

Do I check yes I'm married? If so, what do I write for the Social Security number. She doesn't have one, as she's not a US citizen.

2007-08-11 19:30:01 · 4 answers · asked by Anonymous in United States

2007-08-11 16:36:07 · 4 answers · asked by owned by a siberian husky 4 in United States

I make about 400k a year as a personal escort in southern california. I work 3 nights a week and am always paid cash. I have been putting the money in safes because im worried about depositing it into a bank account that the IRS can track. But I need to start investing all the cash in real estate, savings, stock, IRA's, etc. But I know everyone will wonder where I got this much cash and the IRS will come knocking. I dont know how much I could get away with depositing every month into bank accounts or how much I should claim on my taxes without paying a ton to the government. Any ideas???

2007-08-11 16:19:43 · 4 answers · asked by chaneltaylor430 2 in United States

Personally i think it's insane... he shouldn't have to pay a dime untill he sells the ball... what'do you think?

2007-08-11 15:35:30 · 8 answers · asked by freedkid 2 in United States

Additional info:
Resident/Working in New Jersey
Salaried at $33,000

How much will be taken from bi-weekly checks?

2007-08-11 15:11:08 · 4 answers · asked by lookin 2 in United States

I mean tax free $$ I can give them each year. Also if it is tax deferred; what is the limit in USA per year.

2007-08-11 14:32:26 · 3 answers · asked by Balathandan P 1 in United States

Someone gave me an answer according to the IRS I am talking about the constitution.By what amendment?

2007-08-11 14:06:39 · 14 answers · asked by taa daa 2 in United States

2007-08-11 14:03:25 · 4 answers · asked by roxxxysnatch 1 in Other - Taxes

2007-08-11 13:59:59 · 11 answers · asked by diana c 2 in United States