Taxes - August 2007

My employer for the end of 2006 and beginning of 2007 wasn't withholding my taxes and claimed me as an independent contractor on his taxes. I most definitely was not, and filed an SS-8 request. The govt decided I was an employee, and I've fixed my 2006 tax returns to properly pay the govt.

My employer is now demanding that I pay directly to him the taxes he did not take out for me in 2007, with no proof of how much he paid me or how he arrived at his numbers. I do not trust him (this is a very small business and I had no idea the mess I was getting into). Do I owe them to him to pay to the govt or do I pay the govt directly? Do I have to pay the govt now or when I file my 2007 taxes?

2007-08-11 13:37:48 · 6 answers · asked by Mary C 3 in Other - Taxes

I just moved to PA & I started working @ job. I work 8.5 hrs a day, making 9$ an hour, so thats $76.50 a day, $382.50 a week. I get payed every 2 weeks so thats $765.00. I want to know how much exact taxes would be taking out & if there is website I can go to, to find this information?? THANK YOU!

p.s I am aware of the right to work fee, $52 & I already payed that THANKS!

2007-08-11 13:25:59 · 4 answers · asked by ♥♫♪╔═══╗ ♪ ║███║ ♫ ║ (●) ♫ ╚═══╝♪♪ 3 in United States

2007-08-11 12:50:00 · 4 answers · asked by Dante 1 in United States

2007-08-11 12:25:54 · 2 answers · asked by vanier5 1 in United States

Property was seized in 1989 by the state grand jury. another county sold it at a tax sale in 1990 taxes were paid on the property till 1991. was not released by the state till 1992.
but the property has been sold now with a new house and nobody can do anything about it.. I can't seem to find a lawyer to repersent me so I went to court alone for him to tell me we need a lawyer & the case was was to continue at a later date. Still NO LAWYER!!!! What do I do?

2007-08-11 12:06:50 · 3 answers · asked by camasha2000 2 in United States

I am a single mother and by following the worksheet could claim 6 as head of household, etc. However, my sister says this could cause me to get little refund or even have to pay at the end of the year. I would like to get a substantial refund, but also minimize the amount taken out of each paycheck. Any advice on what I should claim? Thanks!

2007-08-11 10:16:06 · 5 answers · asked by amy c 1 in United States

2007-08-11 09:45:59 · 5 answers · asked by taa daa 2 in United States

I have no problem with the IRS taxing the person who sells the ball Barry Bonds hit if he sells it. But isn't taxing it before its sold opening a can or worms?

If they can tax him for its assumed value then why not tax players for the stuff they keep that has value if sold? How much could a superbowl ring or ball bring on the market? Or even the trophy itself. Its not fair to tell a fan he must pay taxes even if he wants to keep the ball and then not tax players items of value they keep at home. Or for that matter the IRS should go to Bush's residence and total up the auction value of every item he got as a gift from his days as an baseball owner and even the stuff he was given as governpr and president. I'm sure he has lots of items given as gifts by other leaders that would be worth a lot on the auction block.

I bet Barry Bonds kept the bat that hit the record ball. Why isn't the IRS taxing that item too? It could fetch a lot at aution.

2007-08-11 09:43:22 · 4 answers · asked by Steve C 2 in United States

i have a few hundred books that were up to $200 retail each. i know you are supposed to find FMV. how can i estimate the highest legal FMV or highest FMV that will not draw attention from the IRS

2007-08-11 09:29:10 · 6 answers · asked by lespadio24 1 in Other - Taxes

2007-08-11 08:43:21 · 7 answers · asked by yera 1 in United States

I don't want to get audited by the IRS but I hear that Real Estate Professional - non passive activity is a big issue - can you tell me what the IRS will question and look for if I claim Real Estate Professional, do they require anything when you are audited? Please advise. Any help will be great!

2007-08-11 07:19:22 · 3 answers · asked by Anonymous in United States

I am the only one bringing in income in my family. I have a stay at home wife and 2 infant boys. I never got how this worked. I don't make much money (military) and I definately want to avoid paying in at the end of the year. So what's the best way to go?

2007-08-11 07:09:12 · 1 answers · asked by Scratch-N-Sniff 3 in United States

Due to some a bit of confusion, disorganization, restructuring and lack of knowledge, the taxes of a non-profit company that I am on the board for filed their taxes late. (Very late...the penalty fee is $5000...money that the company does not have) If the company cannot pay, are the board members responsible? Is this something we are liable for?

2007-08-11 06:22:04 · 1 answers · asked by Kelly 2 in United States

My boyfriend and I just bought a condo; we co-borrowed on the mortgage. We'll be filing taxes separately. He's in a higher tax bracket, so it would make sense for him to take the entire mortgage interest deduction since he will get more back than I would. How do we make sure that can happen?

I have heard different things about what we should do. For example, I have heard that the paper trail for the mortgage payment should always be traceable back to him and him alone (e.g., the checks should come from an account that only has his name attached to it). I have also heard that we can take that route, but that I can actually pay the principal amount out of my funds so long as he pays the interest amount out of his funds. And I have heard that we don't have to go through any of this trouble; that as long we don't both try to take the entire interest deduction, it's fine however we split it.

Does anyone know for sure? Is there a source with a definitive answer?

2007-08-11 06:18:46 · 3 answers · asked by venom9176 2 in United States

My college is a bunch of twits that cant figure out how to process financial aide being that I put my application in in May and they are just now figuring stuff out. THey say I should get it this week but if I dont get it by friday I have to pay half my tuition out of pocket and I dont have that money. This royaly stinks so I thought about asking my boss for a loan and letting him have the reciept of my tuition as a tax write off kind of as a thanks for loaning me the money. He is such a sweet heart though if I tell him he can write it off he will probably just give me the money. I just need to know if he is allowed to write if off so that I can present the idea to him in a formidable manner.

2007-08-11 04:45:29 · 3 answers · asked by daisy_77375 2 in United States

I have two rental properties in California. Previously I lived
in one of them, and rented out the other. Earlier this year,
I moved to Texas and rented both of the Calif houses out.
The only mortgage is on the Calif property, I have none in Tx.

Now one of my renter's is moving. My question is: If I have to travel back to Calif to clean, run an add, sign off with a new renter or whatever, what -if any- of this can be used as a business expense on my taxes? And would the rent be considered California income, or is it all business income?

I appreciate the serious answers.

2007-08-11 04:41:25 · 3 answers · asked by Vic 4 in United States

What is the mimimum amount that must be reported for federal taxes? Please be specific, if you know the where I can find that info on irs.gov that would be great too.

2007-08-11 04:19:12 · 2 answers · asked by kmcdonald 2 in United States

2007-08-11 02:32:25 · 3 answers · asked by ying z 1 in United States

And suppose the IRS was abolished. Separate questions.

2007-08-11 01:39:57 · 4 answers · asked by Bill Spry 4 in United States

2007-08-11 01:35:57 · 5 answers · asked by lizlizzzy 1 in United States

Poor management, they are going to court for not paying sales tax. They have shown withholdings on every paycheck stub, but I am not sure if they have been paying anything in, including social security. Is unemployment included in the normal deductions or is it a separate thing?

2007-08-11 00:41:06 · 2 answers · asked by Anonymous in United States

Hey all,

how does tax get worked out on good brought from ebay USA and shipped to the UK.
Digital camera equipment is what i am planning of buying from there but i am wondering how the whole customs duty works???

2007-08-11 00:29:01 · 5 answers · asked by leroy S 1 in United Kingdom

2007-08-10 22:52:56 · 2 answers · asked by Buripuk 2 in United Kingdom

I will be making about $18k.

2007-08-10 15:45:04 · 3 answers · asked by eyerotten 3 in United States

I just want to break even...claim 1, 2, or more?

2007-08-10 15:15:37 · 4 answers · asked by ferg1828 1 in United States

I'm looking to buy a home that will be paid for predominantly by funds from my single mother, roughly around a $150k "donation" that she isn't looking to have paid back. It's simply a gift of sorts, and neither of us are looking to give any of that money to Uncle Sam through the gift tax.

Also, we're not looking to apply any of this "gift" towards the $1,000,000 lifetime exclusion limit against her estate, because should I outlive her, her estate will go to me and may likely be worth more than the 1 million, so cutting into that limit now is not an option either.

My question is: What's the best way she could basically buy me the house, put it solely in my name and avoid paying huge amounts of taxes on it whether now or in the future when I sell the house?

I truly thank you for any guidance you can offer.

2007-08-10 14:46:55 · 3 answers · asked by jimbob 2 in United States

My husband works and I just work in the summer making like 2900 for the year. Do I have to report this when we file taxes my little summer job

2007-08-10 11:46:26 · 6 answers · asked by karen d 2 in United States

2007-08-10 10:47:33 · 10 answers · asked by Anonymous in United States

If you in the Power Ball Lottery and you would all your money up front, how much in persentage do they take out? And if you were to take only the curtain amount out per year what would they tax per year? What one would you be getting more of the money out of??? Use 1 Million for an example.

2007-08-10 10:13:26 · 4 answers · asked by Anonymous in United States

i'm filing for taxes this late in the year. i made some money on the side with my business, but i do not have a license. my income is small but i would like to know how much is the minimum and maximum, before i report to IRS. thanxs.

2007-08-10 09:59:58 · 4 answers · asked by Anonymous in Other - Taxes