Taxes - September 2007

I was not aware that I needed to do this. The years in question are 2005, 2006. A non incorparated individual, who recieved in excess of 7500.00 for that time period.

2007-09-30 06:57:46 · 4 answers · asked by J L 1 in United States

I was told that,and need to know if its true or not,

2007-09-30 03:56:26 · 9 answers · asked by yeah!!! 3 in United States

I live in Portugal

I´m Portugal citizen

If i buy mutual funds by ameritrade, if i sale the fund do i need to pay any tax to U.S.A. TAX DEPARTMENT ??

(Im the stocks it´s 0% TAX)

Like the stocks cant i sale in the next week (after buy the funds)

Thanks

2007-09-30 02:29:39 · 2 answers · asked by antonioteixeira555 1 in United States

I am married and have 3 kids.

2007-09-30 02:26:33 · 6 answers · asked by stinkyhotdogs 3 in United States

Or is this something I can only do via itemized deductions?

2007-09-30 01:45:14 · 9 answers · asked by Anonymous in United States

I am going to UK for eight months, can anybody tell me that if i purchase a laptop from there, do i need to pay VAT, or is it possible to get the VAT refund while coming back to india(like it is possible in germany).

2007-09-29 23:17:44 · 3 answers · asked by inder 1 in United Kingdom

I understand child support is not deductable or taxable. However, it seems that this additional income would be considered earned income. I have not been treated well in this whole process, even if she had no tax liability, I would feel somewhat better if I was allowed an interest deduction.

2007-09-29 22:09:34 · 5 answers · asked by J L 1 in United States

2007-09-29 18:52:55 · 4 answers · asked by mia r 1 in Other - Taxes

This is my first job, and I don't really know what I'm doing on the W-4. Here is my information -

I think I will be making less than $2500 by the end of this year.
I'm only 16, so I'm a dependent. I don't have any kids... so I don't have any dependents myself.
I don't meet the requirements for any of the allowances on the Personal Allowances Worksheet.

The form says that you aren't exempt if you make over 850$ and you're a dependent, but whenever I fill out some of the withholding calculators online, they say that I'm going to be paying 0$ for federal taxes. What am I supposed to do???

2007-09-29 17:10:55 · 3 answers · asked by Anonymous in United States

2007-09-29 16:55:02 · 7 answers · asked by corsby 1212 1 in United States

He pays 50 a month to welfare because I am on assistance temporarily. He's only paid for two months. I have full custody, but my husband goes to school full time, no job, and I am not in school because I am in my 3rd trimester. Can he claim her and receive the large child credit? Does he need my permission to claim her? Does anyone know where I can get these questions answered?

2007-09-29 14:56:21 · 10 answers · asked by Chris g 1 in United States

I'm talking on a federal level. A tax of 15-20% would be roughly equal to what the IRS takes in in sales tax. This would be more fair to the people, because it taxes on how much they spend, not on what they do for a living (work). Also, you have some influence over how much you pay in taxes. Seems like a good idea to me, are there any drawbacks? Oh yeah it would also make taxes much simpler, cause tax code is about 10x longer than the Bible.

2007-09-29 14:44:17 · 9 answers · asked by Anonymous in United States

2007-09-29 14:40:59 · 5 answers · asked by mommyof3 1 in United States

2007-09-29 13:13:28 · 6 answers · asked by yolandarnd 1 in United States

2007-09-29 13:06:03 · 6 answers · asked by Olivia C 2 in United States

i just got audited by the IRS cause my tax guy did stuff that i never asked him to do like, me going to school, donating money & stuff to goodwill, and work clothes, stuff like that. anyway, can i sue my tax guy for getting me audited? and what kind of lawyer should i use?

2007-09-29 11:49:08 · 6 answers · asked by jose c 2 in United States

I am 25 years old, will social security be there when I retire?

2007-09-29 10:40:00 · 4 answers · asked by nebula 6 in United States

I believe a certain part of the tax code is silly, and I'd like to challenge it to get it overturned. Is this possible for a civilian to do?

2007-09-29 10:34:11 · 3 answers · asked by ret2go83 3 in United States

2007-09-29 08:31:24 · 3 answers · asked by CHRISTINE P 1 in United States

I have a regular job, but I also do freelance work on the side. I have made approximately $30,000 this year in freelance work. I haven't spent the money, and I have probably $5000 in expenses related to the freelance work. Will it make a difference in my tax standing if I start a business as opposed to just counting it all as personal income?

2007-09-29 08:31:11 · 4 answers · asked by Scott A 2 in United States

2007-09-29 07:25:39 · 3 answers · asked by Mickey O 1 in United States

I am a salesperson at a car dealership. My only vehicle is a company provided demo. Basically, if I reach a certain sales goal every month, I get to use the car. We have to turn them in after 5k miles and get a new one. They are not registered to us. I've noticed lately that I do alot of sales work outside of work as a condition of having this company car. People stop me all the time to ask me about the car, ask me about other cars, or to get my card, and I catch people peeking in and reading the window sticker quite often. The actual purpose of the car is to be used as a "demonstrator" meaning it's basically a moving ad for the dealership. As a result, is it possible for me to deduct any costs associated with the car, such as gas or repairs, because no matter where I'm driving I'm still technically conducting business? I don't have any other reason to contact a tax professional and I really don't want to spend alot of money to get a simple answer. Thanks to anyone who can help!

2007-09-29 07:16:30 · 4 answers · asked by ret2go83 3 in United States

first off... it's a prize.. you don't see them taxing the dollar scratch off's that you win in a gas station...

secondly.. if they tax you when you first win the money, then why do they do it again at the end of the year?

consider this:

you work, you get money.. your money is taxed, they take a certain amount out of your paycheck (1st tax), then when you use your money to go buy stuff you get taxed again (2nd tax), and for the store(s) to even have the item, they have to buy it from the company which taxes them (3rd tax) and they have to buy the resources to make the product (4th tax).

2007-09-29 05:22:05 · 7 answers · asked by Anonymous 3 in United States

Last week I wrote a discussion on Income Tax and wanted to see proof of the law? All I got was a Wikipedia defintion which I don't use because of the many mistakes that are make within the website. However I would like for anyone to show me in the US law that requires us to pay Income Tax?

I don't want to see a codify IRS rules. In the constitution it says do not tax a man labor or compensation! But somehow I have been doing serious research and I have not found a Federal Law saying that we are to pay the income taxes.

I want someone to show me a Federal US Law in our constitution that says we are to pay these taxes. Not some book that the IRS design to mislead us? If You have a answer please leave a website and or other resources so that I can review them and I will write back to you to tell you if I am right or wrong!

2007-09-29 05:11:13 · 6 answers · asked by sonnys1980cc 2 in United States

he's 53 and we pay for everything for him.
Don't know if these things mean anything but:
We do not have health insurance for him, he has been getting it as a charity at the hospital or he just has it as a debt.
He also owes the IRS over $25k.

We want to be able to deduct from our taxes because he is getting expensive.

Does his address have to be the same because his current address is my brother's apt.? Also, he used to live with my brother so he has a few utilities in his name. He also has some credit cards in his name.

What are the requirements, does he have to be over a particular age?

2007-09-29 04:31:22 · 5 answers · asked by Anonymous in United States

Trying to find out if I have done everything properly. I opened a business account with a EIN#. Wrote 4 equal checks dividing the probated condo money and about $16,000 of my mother's personal bank account money which was already in my name too. Checks were approx. $26,000 each. Is there anything I have to do tax wise? Like provide any information to the IRS or my siblings for tax purposes. We all live in Ohio except one in Florida.

2007-09-29 03:26:22 · 2 answers · asked by Anonymous in United States

Scape goat, over taxed cigarette tax, What do you think the
next legal product will be over taxed? Does this remind you of
The Boston Tea Party?

2007-09-29 03:18:03 · 8 answers · asked by jenny 7 in United States

Do I get taxed on the difference between what I bought a property for (2 years ago) even though a large amount is going to the buyer as a credit? It is a rental. I am not making that much after fix up costs and credits back but do I get automaticly taxed?

2007-09-29 02:50:56 · 3 answers · asked by artguy90291 2 in United States

ive been told by my current employer that im bein made redundant nx fri,ive been employed by them for 15 yrs,they told me i wont get redundancy pay as the company has no money, but i was told by them that the government pay you if the company cant, also my employers are settin up under a different name and then want to employ me back on a new contract, am i allowed to do this or will it affect my redundancy claim? PLEASE HELP if you need more info,ill try my best

2007-09-29 01:18:59 · 5 answers · asked by top mom 1 in United Kingdom

Say the amount I made was about 32K ? Also am I able to write off exspenses as business expenses if I would of not purchased those items if I was not in that business?

2007-09-29 00:59:09 · 3 answers · asked by whoudek 1 in United States