Taxes - September 2007

I was employed by a company for 5 years. I had recvd W2's for 4 years the last year after I had left the company they issues a 1099-MISC for all of my earnings. I contacted them and they are not willing to correct the problem. Does anyone know of how I would dispute this 1099 with the IRS directly and I am aware of the ss-8 but that is not really disputing a past 1099-MISC. Any advice ?

2007-09-05 19:34:25 · 6 answers · asked by Taurusluvguy 1 in United States

okay, last year I worked 2 jobs.

One at a FF place that gave me a W2

515.92- Wages
26.11- Federal Income Tax Withheld
7.47- Medicare

then the other job as an independent contractor that gave me a 1099-misc

3770.00 Non-Employee compensation

-------------------------...

I tried so hard to file, I did so much research and I just couldn't figure it out (which made me feel real bad beacuse I'm going to school for accounting but we haven't covered tax yet.) the problem was that I was not only working with a 1099 that did int take any income tax out (I received full cash at that job), I could have handled that, but It got really complicated with the regular W2 thrown in.

One form said that I owed 500 dollars... I was completely broke at the time (and Had just lost the 2nd job) so I had no way of paying

that year I went from 17yrsold to 18, I'm a full time student (went from HS to college that year) and I have no dependents beacuse I still live with my parents.

I remember hearing that there was a cutoff where If you made so little you didin't have to file, I looked it up and I can't remember the exact figure But I was below it

(I only made like 4grand in a year after all)

I just didint send anything In...at all. I haven't heard anything from the IRS and I haven't received any letters or anything, but I remember stories about people who don't file for years, and then when they do file thats when the computer system gets them.I live in NC btw, am I screwed??

2007-09-05 19:08:09 · 9 answers · asked by Anonymous in United States

I sell things over the internet but I have no employee. I just want to know how much I have to file on my taxes in regards to my sales? I mean, do is there a sales tax charge on my online clients? Or I dont have to file these? Where can I get some information about this? Just any info in regards to online business taxation. thabks

2007-09-05 18:32:58 · 1 answers · asked by Confused 1 in Other - Taxes

Planning to get a loan 'fully documented' for a property investment. Need to show more income on my tax returns to qualify. Will the tax man mind a few grand more for free?
And ... how stupid does this really sound?
It's my only chance out of this middle class maddness!

2007-09-05 17:48:00 · 3 answers · asked by Anonymous in United States

For example, if you make $50K and you are 75 years old, do you pay less in taxes than if you made $50K and you were 25 years old?

2007-09-05 17:02:34 · 8 answers · asked by pokerstar 1 in United States

I'm trying to confirm that my paycheck is being cut properly. I looked through the amounts being deducted for Fed tax, Social Security and Medicare, but I needed to know what percentage of each is supposed to be taken from the gross income. Also when the percentages are cut from the gross amount, is each amount taken individually from the whole? I hope this makes sense. Thank you in advance for your help.

2007-09-05 16:38:34 · 11 answers · asked by Smita 4 in United States

2007-09-05 16:19:20 · 13 answers · asked by bo_muzyk 1 in United States

Examples of punishing achievement.
When a person works a full time job and a second or third job to earn extra money, why should they be taxed more than one who doesn't?
When a person invests thousands of dollars to be educated in a high income career and finally starts making a decent wage, why punish them with higher taxes?
When that persons labor results in them buying a better home than one who doesn't work so hard, why should they be forced to pay a higher property tax?
America is supposed to be the land of equal opportunity, not equal results. Socialism offers equal results, mostly poor except for the elite who run the government.

2007-09-05 16:12:53 · 7 answers · asked by no income tax 1 in Other - Taxes

some serious confusion about the tax that i pay from my earnings. I work as a s/w devloper. Plz can you make some time and do some calculations as per the numbers that reflect my paystub. Below mentioned pay is for 2 weeks(15 day) period pay details.
SALARAY::: Gross $ 4160

TAXS & DEDUCTIONS:
FICA 318.24
FED WT 807.44
VA ST 216.69

TOTAL Deductions = 1342.37

Net pay is : $ 2817 ( 4160- 1342.37)
The pay roll is run by ADP. In W4 form filled by me, option A,B,E are checked by me.
As per deductions i see, that tax cut seems to be around 33%. Why is it much high.?
Plz can some one explain about the deductions and reason for why am i paying more tax than my frnds who are equal to my gross pay. I hear that , at the end of year when we claim taxes, federal Withholding would be crediting back some amount if it feels they owe me ..Also, during a complete Tax year, what would be the avg tax that i would be paying.. I keep hearing from others that on avg 23-25 % goes in tax. bit i pay now >33%

2007-09-05 16:10:34 · 4 answers · asked by CNU 1 in United States

2007-09-05 16:10:18 · 1 answers · asked by They Know 2 in United States

I didnt file my taxes for 2004, so when I had my taxes done in 2006, I asked them(Liberty Tax Service) to do my 04 & 05 taxes. Now I got a warrant from NYS and they want a copy of 2004's tax return. I contacted the tax preparer and told them I need a copy of my NYS return for 04. They looked for it and told me I didnt file NYS in 04! WTF I payed this preparer to do my taxes for 04 and 05. I have never done my own taxes and do not recall telling them not to file my NYS taxes, why would i do that? So, now NY wants a copy of this return and my preparer says that they didnt do one for 04. What the hell? Why they didn't do it is beyond me. Can I hold them responsable somehow? Dont they have to have something in writing that says i dont want to file for NYS tax?

2007-09-05 16:06:46 · 4 answers · asked by Carlitos 1 in Other - Taxes

I have not worked this year and i have been on unemployment. Will i still be able to claim my child come tax time? The father is not in the picture.... so he can not claim her. She has been with me for more then 6 months out of the year......

2007-09-05 15:28:38 · 5 answers · asked by walkswithwolf 1 in United States

I worked for the past two years for a single company and made $40,000 per year, then changed jobs in June 2007, to go into sales. I am soon to be laid off due to poor sales performance, after 4 months on this new job. Somewhat of a chop shop. They paid a base salary of 40k as well.
Will I be eligable for unemployement insurance if I only worked there less than four full months--yet I have worked for the last two and a half years on a salary position with two companies with no breaks.


thanks

2007-09-05 14:03:35 · 2 answers · asked by William H 2 in United States

2007-09-05 12:56:51 · 5 answers · asked by shahriar a 2 in United States

What are the ramifications of getting approved for Social Security Disability? Such as taxes, health care, etc.

2007-09-05 12:23:33 · 3 answers · asked by Anonymous in United States

2007-09-05 12:22:25 · 4 answers · asked by Capt. Schmuck 1 in United States

I live in a small rural village with roughly 550 residents in the village proper. I am wondering how the $2 million in bonds may impact my taxes.

2007-09-05 11:57:01 · 3 answers · asked by Toby1 1 in Other - Taxes

I made 14,000 the intire year but I want to apply for financial aid and need a 1040 to complete it problem is I don't know where my copy is I try to look it up for days?
where can I get one how long will it take to have it fax and how much will it cost?
thanks

2007-09-05 11:38:51 · 5 answers · asked by MNNNN 1 in United States

the biggest chunk was 371.00 for federal does this see, right
i claim no dependents thank you

2007-09-05 11:28:38 · 6 answers · asked by icecristl2 1 in United States

2007-09-05 11:21:54 · 4 answers · asked by I get buckets 2 in United States

when you buy bonds or securities from the gov't or private companies, do you have to pay tax?

2007-09-05 10:51:45 · 3 answers · asked by dark_armies 2 in United States

I need them for my school financial aide office and I need a copy asap. I just need to know away to get them so that I can start school!

2007-09-05 10:44:17 · 7 answers · asked by Timothy W 1 in United States

I did not file last years income tax - I did at H&R block but only found out that I would only be getting back like 50 dollars from fed and 30 from state . Is it OK to file with Next years?

2007-09-05 10:11:51 · 8 answers · asked by Anonymous in United States

I purchased a fairly expensive piece of equipment from a company over the Internet that in the description of the item claimed sales tax would have to be paid in several states including mine. I was fine with this except for in the end, they charged the wrong tax amount (3% more than my actual tax rate). After going back and forth with them and them finally figuring out I was correct on my tax amount, the refunded the difference. This made me wonder if they are even reporting/sending the tax amount to the state tax collectors. How would I go about determining if this company is even sending the tax on to the state or just pocketing the money. The whole process of dealing with them, they just seemed like a shady company.

2007-09-05 10:11:14 · 2 answers · asked by Brad 2 in United States

i have a client who wants to amend his return since he and his wife are in an assisted living home and the wife definitely is there for medical reasons. the problem is the husband is their only because of the wife.
the client want to to know if he could deduct the cost for himself in addition to his wife.
please include the IRS code section/source for your answer.
The only loophole i see applies for lodging - that an accompanying person can deduct the cost of lodging.
2) can he ammend his returns & claim a refund more than 3 years since he already filed his returns even though the normal statute of limitation rule rule is you cant claim refunds more than 3 years old?

2007-09-05 09:57:45 · 4 answers · asked by goldenboyblue 3 in United States

I am getting a personal check from my grandparents for $19,400. It used to be in some sort of account that they had set up for my college but I am done with school and they are sending me the rest in the form of a personal check. While this was in the account it was taxed but the account was closed and the money is in their checking account. When they send this check to me, will I have to pay any sort of tax on it because the amount is large? Also because of the large amount do I have to report this to the IRS? The info that I have found leads me to think that because this isn't considered "cash" by IRS terms, I don't have to report it. Any help would be great!

2007-09-05 09:48:53 · 10 answers · asked by lidleanjel 1 in United States

Can you declair back taxes in a bankruptcy? I owe so much money to the IRS but am in a new line of work and don't make even close to what I used to?

2007-09-05 09:47:02 · 6 answers · asked by T.J. C 1 in Other - Taxes

My husband and I own a residential/small commercial electrical company. We have 10 employees and 5 trucks. Besides having the cost of insurance on the vehicles, we have to pay workman's comp, payroll taxes, estimated taxes...etc. It seems like every time I turn around, I am getting another letter in the mail telling me I owe some other fee. Is there any kind of program for small businesses that will reduce the taxes, or will we just have to keep on going and pray it gets better? We are already an LLC, we were told that would give us some tax breaks. So far all I see is more bills!


We became an LLC to also keep our personal stuff seperated from our business in case of lawsuits or such.

2007-09-05 09:17:35 · 8 answers · asked by GreeneyedCowgirl 5 in United States

I have heard it is, and I have also heard it is not (mainly from my Boss), but I am getting pretty tired of playing the guessing game every time I open my paycheck.

2007-09-05 09:07:31 · 4 answers · asked by Kristen 1 in United States

Me and my wife have been struggling with our finances and are in serious debts, which have arisen from pay the bloody tax man for thier pockets, we have been earning just over the threshold and were not entitled to any benefit coz we were working full time.

We like many other bottom line working couples are finding it very hard to pay so much taxes and yett o pay huge loan as well, yet some people can drain the system by not working a day in their life.

All I am asking is that, is there by any chance possible for us to get tax relief for a certain period so atleast we can get back on our feets and pay off our debts! whic h iare in excess of
£ 30k.
we have been told that we are not entitled to tax credit either... even though we have an infant in the house...

If we are not then who is entitled to it on such a time!.....please can some one give me an answer, i will really appreciate it.

2007-09-05 08:55:34 · 2 answers · asked by soa210 1 in United Kingdom