Taxes - August 2007

I am to work as a contract employee at a company. They will pay to my own company and I have to take care of my taxes.

My company is an LLC, the only person in it is me, and I am not sure if in this case a "Contract Employee" the same as an "Independent Contractor".

We will sign an agreement of my dutties to his company and will be paying me by job done.

What would be the difference?

2007-08-06 12:24:25 · 7 answers · asked by Alekz 1 in Other - Taxes

I have a question about claiming income from eBay selling. If I lets say, buy a book at a garage sale for $1.00. Then, I sell it on eBay for $10.00. If the book's original retail value was $20.00, do I still have to claim my income from that since I am still selling it for under it's original value?

2007-08-06 12:17:21 · 5 answers · asked by bengis777 2 in United States

-progressive
-regressive
-proportional
-atypical

2007-08-06 11:50:35 · 4 answers · asked by Anonymous in United States

2007-08-06 10:43:04 · 9 answers · asked by Anonymous in United States

I don't run an eBay store, but I do sell stuff on eBay from time to time if I want some extra vacation money, etc. Do I have to claim this at the end of the year? Thanks!

2007-08-06 10:35:38 · 7 answers · asked by bengis777 2 in United States

Received email from UK National Promo telling me I won 2nd place worth 600,000 in Poundsfrom their drawing Aug,4th. What kind of scam is this;they want my name,address,occupation and Phone#

2007-08-06 10:16:07 · 4 answers · asked by sherlockholmes 1 in United Kingdom

I'm selling a yamaha motorcycle online in PA. I was wondering if anyone knew if I needed to file this for income tax or if it was tax free because i sold it online? If i sold it offline would I need to file it?

2007-08-06 09:52:09 · 1 answers · asked by hiddensniper1 1 in United States

i cannot find it anywhere on the form. Would I need to itemize my deductions to do this. The standard deductuion is $5150 and my interest for $2006 was around $2000. I have no other deductions that i could include.

2007-08-06 09:40:34 · 8 answers · asked by keith100_adams 2 in United States

My husband received the stocks as a gift when he was a child. I don't know how to calculate the captial gains and determine how much we should put aside for taxes. We got about $4,500 from the sale. Even a rough idea would be great!

2007-08-06 09:25:01 · 8 answers · asked by meltee 3 in United States

I need to come up with a figure regarding a settlement with an insurance company because of a permanent debilitating injury to myself. The question is about how much I should expect to pay in taxes. (If it matters, I live in the state of Pennsylvania, in Pittsburgh.)

If I am looking to have somewhere between $1 and $5million in my pocket (well, bank) after the lawyer gets 40%, what should I take into consideration for taxes? Are taxes paid before or after the lawyer?

What I'm looking for is pretty much "If you get $1 million, they would have to pay x, if you get $5 million, they would have to pay y, etc."

Also, if you know anything about the subject, please let me know if you think that I'm asking for too much or too little. Pretty much I'm early 20s and this has ruined the rest of my life, I am in constant pain, need help to live, and am out of treatment options.

Thank you all so much! I know nothing and need help!

2007-08-06 09:16:59 · 6 answers · asked by ag4lugy4lkajgbak4 1 in United States

I live in one city but I have a townhome in another city. If I need to travel to manage my townhome, are the travel expenses (like the flight ticket, car rental, food expenses etc.) tax deductible?

2007-08-06 08:58:54 · 6 answers · asked by laser_kevin 1 in United States

What happens if I don't pick up a certified letter at the post office from the IRS? What could this certified letter be? I don't know what to do.

2007-08-06 08:26:29 · 7 answers · asked by huckypeep2 5 in United States

my soon to be ex spouse and i receive a capital gain(loss) for a business that went belly-up. the money is deducted from his gross earning each year for ten years. he was working full time and i was a fulltime mother for our children (he does not consider this to be a job!) should i ask for half the money in our divorce?

2007-08-06 08:01:14 · 3 answers · asked by sandi k 1 in United States

a salary of $90,000 (before tax) for 5 people. is that a big salary?

2007-08-06 07:44:36 · 6 answers · asked by Anonymous in United States

I have an additional $10 taken from my paycheck every week. I know it would be better to save it where it could earn interest, but I'm terrible at saving money that I have available.

I was fine with this arrangement until my sister told me that I may not get the money back when tax season rolls around. If I don't owe the IRS any money, everything that was taken out I will get back, right?

And is this extra money taxable as well, or will it be left completely alone unless I owe money?

2007-08-06 07:43:04 · 6 answers · asked by Nina G 2 in United States

Please help.... If i have no p45 to hand to my new employer but instead fill out a p46 form, could they find out I havent actually been employed for "all" the time I have stated on my cv?

2007-08-06 07:42:53 · 1 answers · asked by Anonymous in United Kingdom

2007-08-06 07:42:38 · 3 answers · asked by Anonymous in United States

Ive been selling Microsoft points for a friend, Like A LOT!. and Clothes from my cousins store. I make 15% They make the rest... Ive already sold over $2000 worth of stuff over the year to still sell over $500 over the next 3 months... Should I worry about taxes, Where do I protect myself?

2007-08-06 07:03:12 · 3 answers · asked by Anonymous in United States

Corporation year end is April 10.

Corporation paid salaries April 12.

Does the amount count as an expense for the previous tax year, ending April 10 or the next, beginning April 11?

2007-08-06 06:58:04 · 3 answers · asked by Stephan Wehner 1 in Canada

My mom wants to donate our car but needs to know if you have to still pay the car taxes after you donate the car. We just got the taxes this month so we don't know whether we still have to pay the taxes.

2007-08-06 06:07:41 · 6 answers · asked by D Mack 2 in United States

ok, here is my question.. my friend who works with me at a local hospital says that you can legallyl claim 9 as an exemtion x times per year.. so she does this when we have 3 checks a month and our insurance premiums and stuff are not deducted to get more money so lets say 4 times a year. ive heard that you dont have to file taxes every year if you dont owe, you may do it every 3 years but ive never heard of this, what would happen, your return would be less? Anyone have a clue what i am talking about and can offer an answer because i dont want to do this if its gonna land me in the hotseat!

2007-08-06 05:47:51 · 6 answers · asked by ANGELA29 2 in United States

Which type of corportion is best to form and what are the benefits? I am looking for better tax benefits and write-offs.

2007-08-06 04:31:05 · 3 answers · asked by American_Nawaab_786 1 in Other - Taxes

2007-08-06 04:26:10 · 10 answers · asked by jaswanth t 1 in Canada

Why would congress get rid of the tax that corporations were paying to clean these sites up???

http://www.thebostonchannel.com/investigative/13794005/detail.html

2007-08-06 04:15:41 · 5 answers · asked by searching_please 6 in United States

I filed taxes, and was supposed to get a tax return for paying too much, but since im self employed I have to proove it, and I didn;t recieve a letter to do so, and I haven't recieved a return in 3 yrs, although my accountant said I would, and calculated the amount too. Can I go to H&R block or somewhere to help me get my return? Or file for it somewhere? Thanks.

2007-08-06 04:05:08 · 4 answers · asked by Anonymous in United States

My fiance's employer has not withheld any tax money from him
this year. He just pays him cash every week- and I know this isn't good! If his employer does not fill out a 1099 at the end of the year, reporting the wages he has paid his employee- can my fiance' still report it himself? With a close estimate of what he earned? Or does he have to have documentation from the employer?

2007-08-06 04:01:35 · 6 answers · asked by Anonymous in United States

I haven't recieved a tax return for 3 years, How Can I get it back? Go to H&R Block? I filed as self employed, I didn't recieve a letter to proove the amount requested.

2007-08-06 03:56:51 · 3 answers · asked by Anonymous in United States

i currently have 2 jobs, but i get taxed so much on my 2nd job, its almost not worth me working a 2nd job,why do we get taxed so much on 2nd jobs? its like we get punished for it?

2007-08-06 03:42:11 · 10 answers · asked by kimberley k 1 in United Kingdom

2007-08-06 03:33:46 · 3 answers · asked by Anonymous in India

I don't get how to figure how much that you have to pay the government, and then what your tax return is?!?!?!

2007-08-06 03:30:20 · 7 answers · asked by Anonymous in United States