Taxes - August 2007

I have a site that people are "donating" to, by paypal. I make it clear to them they are donating, and not paying for a service or item. Do I still have to pay taxes on it?

2007-08-07 13:10:46 · 5 answers · asked by Anonymous in United States

im looking particularly for little elm tx

thanks!

2007-08-07 12:53:54 · 8 answers · asked by Chelsea M 3 in United States

I would like to stop having taxes withheld from my paychecks. I understand that I will still be liable for paying them come tax season. Is it ok if I go ahead and change my W4 to exempt? I plan on paying my taxes of course, just later. Am I allowed to do this?

2007-08-07 12:23:03 · 11 answers · asked by gglwebster 2 in Other - Taxes

I want to get a 2nd job but will child support garnish my income from my 2nd job also? Will they deducted more than I have to pay for each month or will they take half from my 1st job and half from my 2nd job?

I live in California and unsure of how child support handles this in my state.

2007-08-07 11:55:46 · 10 answers · asked by McLovin 1 in United States

Canada Revenue charges about 40% of my salary and I don't quite see where all this money goes. Have you ever analysed the quality of health care..or easily enough...if you drive around Toronto you will see that asphalt is not always there...and yes..the city is very dirty!

Also, why are there schools campaigning to raise money? Isn't 40% of our salaries sufficient to provide for the "public" institutions?

2007-08-07 11:53:31 · 5 answers · asked by Curisoso001 1 in Canada

Pro-illegals keep making the comment that illegal immigrants pay taxes as if they are making an equal contribution. I just don't understand how they can continue to confidently make this comment considering the majority of illegals are getting paid "under-the-table". Sure, maybe they pay sales tax but they seem to act as if paying sales tax is making an equal contribution in comparison people who pay sales and income tax. Obviously, they're not equal. Real Americans pay both. Plus, a large percentage of their income is being spent in Mexico and not the U.S. so there goes a large portion of the sales tax.

2007-08-07 11:52:56 · 5 answers · asked by Anonymous in Other - Taxes

I was recently audited, I work for a railroad and am required to have a phone, so I claimed it as an employee business expense, it was disallowed in the audit, I was allowed to deduct my cell phone but not the home line.
In addition I keep a vehicle at my away from home terminal to use when I eat, it is not required but the company does not provide a way to get meals at the away fromhome terminal. The vehicle mileage log I keep was also disallowed.
Other employees have been audited and were allowed the exact same deductions, there seems to be no consistency in the field auditors. Are these deductions valid in my case or is the auditor correct?

2007-08-07 11:47:42 · 3 answers · asked by Anonymous in United States

My husband insists on rigging his w-4 so that we pay out a lot in taxes and get a 6,000 to 7,000 tax refund every year. While this has been nice and something to look forward to every Janurary, I want to start saving and investing. I think he should have more tax home pay so we can start a retirement account and long-term savings. (Right now we have nothing).

He doesn't want to and says "absolutely not". I know this is because it is fun to have a lump sum of money to do things with. But I think we could be using or money more wisely.

THoughts?

2007-08-07 10:40:13 · 12 answers · asked by Kristine R 4 in United States

I have a friend who is claiming too few withholding allowances on his W-4. He believes that his "withholding allowance" on W-4 should be the same number as his "personal exceptions" on 1040-EZ. I told him, the number are often the same, but in his case, he can claim higher. He claims 2, for himself and his son, but according to the W-4, he can claim 7.

Why should I worry about this? Because he lives paycheck to paycheck, and often borrows money from friends, until "refund day", when the tax refund comes back. He also pays company XYZ to give a speedy refund. He always complains to me about money woes.

When I asked him to change the number on the W-4, he at first told me, that was illegal to state a higher number then "household people". After I shown him a W-4, he changed the argument to "I like my big returns/I don't want to owe money to the IRS". How can I blow this argument out of the water? Is there a benefit to the Uncle Sam saving program? Thanks for the advice.

2007-08-07 10:32:43 · 5 answers · asked by Anonymous in United States

What %?

2007-08-07 10:21:25 · 4 answers · asked by Anonymous in United States

2007-08-07 10:16:55 · 3 answers · asked by Anonymous in United States

The form is a 1099. Why should one pay tax when the person was incarcerated and not receiving any pay, but yet working for free?

2007-08-07 10:07:41 · 2 answers · asked by Anonymous in United States

need to work out how much tax and insurance i have to pay out of my wages

2007-08-07 09:21:21 · 6 answers · asked by pamelaoneill29 1 in United Kingdom

I am married with no kids. I want them to take out more taxes so I do not owe at the end of the year. Should me and my wife both claim 0 for line A?

2007-08-07 09:20:05 · 5 answers · asked by scott 1 in United States

rate will my rental income be taxed?

2007-08-07 09:12:25 · 3 answers · asked by unique 1 in United States

I want to create an excel spreadsheet where I can enter my hours and it calculate what I will recieve on my paycheck after all deductions.

I know how to use excel, i just dont know what math to use to find out what my weekly federal deduction is.

I know how to get the medicare and FICA or whatever, but I cant figure out what formula one uses to get their federal withholding. can anyone help?

2007-08-07 09:00:19 · 2 answers · asked by imapirateaarr 5 in United States

2007-08-07 08:45:31 · 6 answers · asked by Anonymous in United States

Can anybody explain how the calculation of death duties work.

2007-08-07 07:51:54 · 5 answers · asked by turlough O 2 in United Kingdom

goodafter noon to all. I would like to know how would you find the annuel income, if a person works 40 per wk, and their pay rate is 10.15 per hour, and that the person gets paid bi-wkly. how would i get the annuel income or gross income? can any body help with this problem.

2007-08-07 07:48:19 · 5 answers · asked by trini2323 1 in United States

2007-08-07 07:44:43 · 3 answers · asked by Anonymous in United States

2007-08-07 07:43:32 · 4 answers · asked by Anonymous in United States

2007-08-07 07:40:56 · 3 answers · asked by Anonymous in United States

going to donate the items to Goodwill but I decided she needed them more. My husband got mad because we did not receive a "receipt" for the donated items for tax purposes. Can we still consider the items that I gave her as tax deductable donations even though I did not get a "receipt"? I was giving out of my own heart and someone that was in need and not thinking of tax purposes.

2007-08-07 07:20:02 · 6 answers · asked by empowered2008 3 in United States

I want to have my mother in law watch my child, but we need to know if we claim on our taxes does she have to claim the income on hers

2007-08-07 05:29:31 · 4 answers · asked by Bob J 1 in United States

I have heard that it would be possible to deduct the cost of a pool for medical reasons. I have a medical condition that warrents water tharepy. What would I need to do to qualify for this write off and how would I go about it?

Let's say my AGI is about $70K and I can put a pool in for about $30K. How will this effect my taxes? Will it just bring my AGI down to $40K? Or, will I be able to recoup that money in some way? Trying to figure out if I can do this and how I can pay for it, because I don't have $30K sitting around. Can I write off the payments for a loan to install the pool? What about the surrounding landscaping? I've read somewhere that you could write off the landscaping around a wheelchair ramp along with the cost of the ramp. Does that apply to landscaping around the pool?

Thanks in Advance for you Advice!

2007-08-07 04:51:09 · 4 answers · asked by Craig D 2 in United States

I would like to pick the option that doesnt require me to pay the taxes at the end. Do you normally pay more taxes in DE than in NJ and then recieve the credir from NJ.. how do i go about that?

2007-08-07 04:11:59 · 5 answers · asked by Anonymous in Other - Taxes

I just won a settlement for 35,000 compensatory damages and 10,000 punitive damages. How much tax will be taken out of the compensatory? I know that the 10,000 for punitive will not be taxed.

2007-08-07 03:58:36 · 5 answers · asked by Anonymous in United States

I an a non-US Resident. I intend to form a Delaware LLC for a business as introducing brokers for an online forex trading house. I have a marketing website to market to US residents. My questions:
1. Do I require a US licence?
2. Do I have to pay tax for the income paid to me (via my Delaware LLC) by the forex trading house?

2007-08-07 03:24:53 · 2 answers · asked by Anonymous in United States

Tips earned are taxable but is there a % of how much I should report to IRS or my employer? let's say I earned $100 for tips, should I report the whole amount or can I report $80 only?

2007-08-07 03:22:13 · 3 answers · asked by aiphstudent 1 in United States

2007-08-07 03:11:54 · 6 answers · asked by ncasb 1 in Other - Taxes