Taxes - September 2007

2007-09-28 06:25:57 · 4 answers · asked by saraphen 5 in United States

2007-09-28 06:14:34 · 1 answers · asked by Anonymous in United Kingdom

I currently have a full-time job making about $24,000/year. I am starting a 2nd job, part-time, making about $5,000/year. I claim 1 exemption at my full-time job, and usually get a refund of $300-$400 from the IRS. Should I claim 0 exemptions at the part-time job to avoid owing taxes at the end of the year? Or will I likely be safe claiming 1 exemption?

I can't afford to seek the advice of a tax professional; hence, the reason I'm getting a 2nd job.

2007-09-28 06:06:20 · 5 answers · asked by L R 2 in United States

if my employee works for someone else aswell , then which employer gives them their tax allowance ( the amount you are allowed to earn without paying tax on it. Or does the employee reclaim that from the inland revenue themselves. Please help

2007-09-28 05:41:35 · 6 answers · asked by Anonymous in United Kingdom

Ok I ask a buddy of mine to open a business up with me. he said sure, so I went and filed for a sole partnership tax id #, he got pissed off cues he thought we were going to use his tax id # for a completely different kind of store he already had established a year ago. does it make a difference, is it illegal in Michigan, and am i setting myself up to get screwed over by doing it his way? PLEASE HELP

2007-09-28 05:29:47 · 3 answers · asked by David 1 in United States

and only made around 3,000 dollars, but didn't file, is the IRS going to come for me? I was a restaurant delivery driver and didn't want to go through the hassle of adding up all the miles I drove and what not. When I received my 10-99, I was amazed I even made that much. What will come of all this? Smart alecs need not answer.

2007-09-28 05:23:29 · 8 answers · asked by HERE WE GO BROWNIES, BEAT PIT!! 3 in United States

2007-09-28 04:55:05 · 5 answers · asked by Simon C 2 in United Kingdom

Billy has the following information:

AGI for 2006 $125,000
withholding for 2006 $20,000
Total tax for 2005 $29,000
Total tax for 2006 $31,250


a. How much must Billy pay in estimated taxes to avoid a penalty?
b. If Billy paid $1,000 per quarter, would he have avoided the estimated tax penalty?

2007-09-28 04:06:53 · 4 answers · asked by Anonymous in United States

2007-09-28 03:20:22 · 3 answers · asked by NINA S 1 in United States

I have an 80 year old relative with less then 100K in a variable annuity. Its basis is probably about 25K meaning there is about 75K in appreciation over a 20 year period. My relative will not need this money before death other then the small amount of interest it throws off monthly. This relative also wouldnt want to take a current distribution of this money because it would disturb an income based prescription drug benefit. The main concern is the tax liability to the heirs. What are some good strategies to avoid the taxation?

2007-09-28 02:27:46 · 2 answers · asked by Devdude 5 in United States

I'm a student in college and I just need some extra income. I just started working with Noble Roman's Pizza and it's my fourth day working there. The problem is I work my *** off just to please my boss and it doesn't please him at all. I always get reprimanded for doing a horrible job and he would say such things like, "Do you know how to do a simple ******* task" and "What kind of **** is this"? I mean is it normal to have a boss like this tell you these things. I know its my first week but I just feel so depressed and restless about this. The next two days is the grand opening of the restaurant and he told me to take a break and relax for the weekend and to call back Monday for my schedule because he said he was too scared to have me work in a fast paced work enviroment and just wants me to take it easy for the next 3 days. I just feel like a quitter if I quit my job. Is this fair at all? Do you get treated like this at your work? What should I do?

2007-09-27 22:28:20 · 7 answers · asked by sensipaul909702 1 in United States

Does this mean the state doesnt take any money from your paycheck? Just curious//

2007-09-27 22:15:47 · 5 answers · asked by sensipaul909702 1 in United States

i have to work tomoro but i dont wana, but i want my pay check, how can i get my paycheck with out them noticing me, or getting in and out fast, any crazt ideas that migh t work?

2007-09-27 20:47:38 · 10 answers · asked by Feeln' myself 2 in United States

a) decreased by the book value of the bonds
b) increased by the face value of the bonds
c) decease by the face value of the bonds
d) inceased by the carrying value of the bonds

TIA this really confused me can someone clarify it for me please

2007-09-27 20:30:20 · 3 answers · asked by bob 2 in United States

I'm 16, I want to know will my income effect any forms of financial aid that my family is receiving, such as medical care, WIC, school free lunch program, or cause my parents to be moved into a higher tax bracket?

2007-09-27 16:47:40 · 2 answers · asked by Matthew H 4 in United States

I am babysitting children for a lady who posted an add in the newpaper. She pays me about $150 a week with a personal check or cash. Well i was wondering if whether i accept state pay or not, do i have to pay taxes at the end of the year? How does this work? Also, can she claim the money she is paying me for babysitting at the end of the year, and how would this effect me, if it even would? I am really confused.

Thanks.

2007-09-27 16:42:22 · 3 answers · asked by Anonymous in Other - Taxes

2007-09-27 13:58:48 · 3 answers · asked by mexdimpls 2 in Other - Taxes

2007-09-27 13:37:11 · 5 answers · asked by dovesong76 1 in United States

IM DOING A PROJECT AND I NEED SOME INFO about laws and it is really diffitcal to find it online please email me at countrybitc89@yahoo.com or yohoo message me

2007-09-27 13:22:56 · 4 answers · asked by countrybitc89 1 in United States

2007-09-27 12:54:08 · 5 answers · asked by joy s 2 in United States

Where can you find tax sales online so you can bid on them. I use to know but forgot. It doesn't matter what state.

2007-09-27 12:22:19 · 2 answers · asked by Anonymous in United States

2007-09-27 12:04:08 · 6 answers · asked by patch 1 in United States

If I purchase items in France and they do not include tax and then sell these goods on in the UK, will I need to pay the tax back eventually? I have a VAT code so am registered for UK VAT.

2007-09-27 12:03:34 · 4 answers · asked by Ryan S 2 in United Kingdom

Bonfires create pollution, and the green nuts probably suggest global warming.

If Gordon and his mates taxed it (like everything else), they'd make a killing on November 5th.

2007-09-27 11:11:16 · 16 answers · asked by Anonymous in United Kingdom

2007-09-27 10:54:40 · 4 answers · asked by P 1 in United States

I'm starting up my own business and wondered a few things....
If I register for VAT what expenses do I get back? Do I get the VAT back from my purchases for the company ie- I buy an ipod at £120 excl VAT(141 incl) and sell it for £150 excl VAT (176.75 incl). (Only an example). What profit would I make overall - would it only be the £35.75 or would I get the VAT back from the original purchase too?

2007-09-27 10:45:34 · 5 answers · asked by Ryan S 2 in United Kingdom

Did you guys know that there are no laws that require americans to pay income tax, so the IRS is just lying to us when they say it is the law for our wages to be taxed

2007-09-27 10:35:15 · 18 answers · asked by guitar hero 2 in United States

We paid them last year but I thought it was only one time since we had just bought our home.

2007-09-27 10:34:37 · 3 answers · asked by M 2 in United States

hi,
i know that for long-term capital gain, we would be taxed at 15% of the tax bracket and for capital loss (regardless time frame), it can be tax-deductible for up to 3000.

however, let say this year, I've have lost 3000 in one stock, and 3000 long term capital gain on another stock. According what I have researched, these will cancel out one another. Is this true, or these two transactions can be recorded seperately according the the rule i described above.

in another word, the gain/loss is the net of investment or each transaction is applied toward the rule.

thanks.

2007-09-27 09:36:34 · 4 answers · asked by Dreamer 1 in United States

I recently heard a rumor that payroll taxes are a voluntary tax. There are stories going around that you are not required to pay any taxes out of your payroll check and there's nothing the government can do about it. According to the story businesses and coporations are required to pay the tax but individuals are not. Anyone have any thoughts or facts on this. If this is correct I am going to stop paying payroll taxes.

2007-09-27 09:35:49 · 12 answers · asked by rlowe1133 1 in United States