Taxes - September 2007

when you do a contracting job for a company say $5000.00 . are you supposed to charge them tax? someone i know said i should be charging them tax since i have to pay taxes on that money.

2007-09-05 08:51:06 · 5 answers · asked by allenshaunna 2 in United States

If so, please email me with some proof of credibility. I need some advice. Thanks so much!

2007-09-05 08:28:40 · 5 answers · asked by Lady G 6 in United States

my father died,his will stated that myself and my sister split whatever is left in his bank,savings etc accounts.My sister is shady she is overseeing the will through his attorney.I received 8,000 dollars,she now "claims" she turned my information into the IRS and that i must pay taxes on the money.She is in Cali where the will was drawn & where he died,I am in Texas.Also,he sent me 7,000 dollars about 3 weeks before he died in the form of a wire transfer from his bank to mine.She also has claimed to turn it into the irs so i will have to pay taxes on it.Can she legally do this and can the IRS make me pay taxes on it? The 7000 was a gift from him.so in total she wants me to pay taxes on 15,000 dollars.Can this be done?

2007-09-05 07:39:24 · 10 answers · asked by gypsysmile777 1 in United States

2007-09-05 07:20:35 · 5 answers · asked by t.truelove87@sbcglobal.net 1 in United States

I had defaulted student loans in 2006 so the govt took my whole refund in order to help pay off my student loans. Well my loans are no longer in default and I know there's a place for student loan interest to be taken off of your AGI but I wasn't sure if I could claim this amount or not. I know the money that I have paid off to get them out of default I can claim but I'm wondering about the money that the govt took.

And if so where could I find some info on this subject, I've looked high and low and the irs. gov website doesn't really give you a clear defition of what counts and what doesnt.

2007-09-05 07:09:49 · 9 answers · asked by ~*~*Jen~*~*~ 2 in United States

i messed up at work and didn't charge tax on this transaction. the sale was for 100.00 + tax. it would be 108.25. so! what will be the amount if i lower the sale price and the total bill is 100.00 including tax? 8.25% please help me

2007-09-05 06:54:36 · 10 answers · asked by que otro hay 4 in United States

2007-09-05 06:23:44 · 6 answers · asked by gsouser1 1 in United States

My ex husband has been claiming the 2 kids for the past 2 years that we have been divorced since he was working and I was home with the kids and had no income to claim. I am returning to work this month now that the kids are both in school. Would it benefit me to claim one child this year or wait until next since I will only be working a few months before income tax time?
Also, how does it usually work..do we each claim 1 child.? That seems the fair way to me when the time comes.

2007-09-05 06:16:29 · 4 answers · asked by Anonymous in United States

I have an interview for a job that's about $9K less than I was making. Do I have to accept the work?

2007-09-05 05:44:49 · 6 answers · asked by Sher 3 in United States

2007-09-05 05:39:31 · 8 answers · asked by Stephanie T 2 in United States

2007-09-05 05:29:08 · 7 answers · asked by Hprance 1 in United Kingdom

2007-09-05 04:55:20 · 3 answers · asked by Kaveh 1 in Other - Taxes

Do I have to worry about any special tax consequences on these investments when I retire? That is, if I draw an income stream, will the taxes just be treated as income or will the source (capital gains vs. dividends, interests etc.) be a factor?

2007-09-05 04:44:05 · 5 answers · asked by Wolfithius 4 in United States

I have a parcel from Hong Kong currently being held by customs and excise while they figure out how much import duty tax they want me to pay before I can have it.
Does anyone know how they work it out? Do they work it out on the weight of the parcel or the value?
If it is on value the do they include the shipping into the value? For example, the goods cost £40, the shipping £30. Will I be charged a percentage of the goods only or the total amount?
If this is the case then what percentage do they charge? I just want to know how much I am likely to be stung for

2007-09-05 04:25:40 · 7 answers · asked by Big kid 5 in United Kingdom

I recently set up a sole proprietorship because I was receiving funds from my friends business, kind of like a consulting fee, however the fees will bring in between 10k and 20k per year.

So now my friend will write the check to my business so I can pay taxes, use write offs, etc.

If I transfer money from my business account, into my personal account, will I then have to claim that money as income on my personal taxes?
How can I get the money from my business to my personal account without tax liability since the taxes will allready be paid by the business?

Thanks,

2007-09-05 04:00:10 · 9 answers · asked by GTP01 2 in United States

During a portion of 2005 and 2006 I purchased a total of 18 cartons of cigarettes online for a discounted rate. These were not sold, they were for my own personal use, also for my boyfriend.

I received a bill today in the mail for almost $500 for sales and excise tax. The sales tax total is $60.00, but the excise tax is $420.00. What exactly is the excise tax and how is the state of NJ able to charge me the excise tax and is there anything I can do to reduce these charges?

I just wanted to get some answers before I called and paid anything.

2007-09-05 03:15:48 · 3 answers · asked by Anonymous in United States

2007-09-05 02:30:31 · 5 answers · asked by rydfsanta 1 in United States

2007-09-05 02:22:25 · 6 answers · asked by Anonymous in United States

I sold $500 worth of products on eBay so far this year for a friend. We only made about $150 each selling these items. Do we have to claim this money on my yearly taxes?. Do I get money back on a lost if a product did not sell well?

2007-09-05 02:08:26 · 5 answers · asked by Anonymous in United States

2007-09-05 00:19:52 · 6 answers · asked by Anonymous in United States

I'm just wondering because the interest is over half of what I really owe.

2007-09-04 21:44:17 · 1 answers · asked by Anonymous in United States

why?

2007-09-04 21:20:21 · 2 answers · asked by edwin p 1 in United States

2007-09-04 19:55:49 · 6 answers · asked by abdullhmeedhazim 1 in United States

Apparently since I am under 21 and a full time college student, my parents can claim me on their taxes so long as I earn under $8000 per year. The benefit of them claiming me is that they receive roughly $1400 back where as I would receive only $450. What happens if I earn between $8000 and $11,000 (my potential earnings)? Would they still be able to claim me but just for $1400 - (Actual income - $8000) or is the whole option unavailable?

What are other options I could consider? My bank advisers tell me I can write off my expenses but they don't know how to and is it possible for that $8000 cap to rise since most of us who make under that did receive raises do to the min. wage increase?

We use TurboTax (who apparently told my mother this info) but I could not find any situations similar enough on Answers or google.

2007-09-04 19:29:43 · 4 answers · asked by Anonimo 5 in United States

2007-09-04 18:03:16 · 2 answers · asked by carlos 1 in United States

a)differing trade practices
b)china's efforts to spread communism to the united states
c)china's poor human rights record
d)cultural differences

2007-09-04 17:58:47 · 2 answers · asked by Anonymous in United States

I am claiming myself and my daughter.

2007-09-04 17:14:07 · 11 answers · asked by just simple answers 2 in United States

I found my 2002 federal income tax forms in a box but I can't find an record of sending a payment. I have moved a few times since then and I can't find any record of sending in my payment.

2007-09-04 17:03:58 · 3 answers · asked by referee84403 1 in United States

I am conducting a small market research survey and would like to get a variety of responses from this question.

Thanks for your cooperation.

2007-09-04 15:39:00 · 6 answers · asked by Kim 2 in Other - Taxes

im almost bankrupt and i seriously need to get out of paying any taxes. i was thinking about starting my own church, but then i decided that was just too much work. is there a way i can just subside on welfare?? that would be cool since i would be able to play WoW all day without my mom telling me i need a job.

2007-09-04 14:54:00 · 7 answers · asked by ieieiweroiweoiieieieiieiwoiehfui 2 in United States