Taxes - October 2007

i was thinking that the feds can change the monetary policy by increasing int rate to increase invesment, but on the other hand. the gov't can change the fiscal policy by lowering taxes to increase invesment too... which would the govt likely do?

2007-10-17 16:42:54 · 1 answers · asked by dumdeedoo 2 in Other - Taxes

2007-10-17 16:26:34 · 4 answers · asked by AnswerWhore 2 in United States

I'm a single mom with one child and would like to know what is the minimum amount of income I would need to make in order to qualify for earned income credit on that child?

2007-10-17 15:53:00 · 2 answers · asked by Anonymous in United States

2007-10-17 15:06:11 · 6 answers · asked by Michael S 1 in United States

My city is currently selling rafle tickets for $100 to win a $500K dream home. The house is being donated by the builder, and all the ticket money is going to charity. I was just wondering how the prize tax on such a thing is handled. Is the winner suposed to pay income tax on the $500K value of the home?

2007-10-17 14:46:45 · 4 answers · asked by SunnyMoon 5 in United States

I want to buy a business that Nets over 150,000 a year, I want to incorporate. What type of benefit do I get if I incorporate my business?
e.g taxes, right offs
Thank you

2007-10-17 14:43:26 · 2 answers · asked by Anonymous in United States

2007-10-17 14:42:14 · 2 answers · asked by jonesanthonyaj 1 in Other - Taxes

I know it is part of IRS Section 125, or a flexible spending account (FSA), but why is it called a cafeteria plan and why is it called that?

2007-10-17 14:31:56 · 3 answers · asked by Doesntstayinvegas.com 3 in United States

I have three questions regarding W4 Forms.

1. If you want to have less money withheld, should you claim more or less exemptions?

2. My understanding has been that if you want to have less money withheld, you should claim as many exemptions as you can. However, my son is filling out a W4 for the first time, and he is not eligible for any exemptions. Does this mean that the government will be taking out the maximum amount of money from his check?

3. Is he exempt from withholding anyway, if he is under 18 and is a dependent of someone else? Or does it depend on how much money he will make? He will only be working a part-time job after school.

2007-10-17 14:27:46 · 4 answers · asked by Jaysh 1 in United States

since christmas is on a tuesday does anyone no if i would receive my check before christmas.....

2007-10-17 14:09:52 · 4 answers · asked by DEBORAH W 2 in Other - Taxes

I cashed in some of stock holdings. If I don't do anything now, I suspect I will own IRS quite some money next April. So how can I make a payment now? I don't want to change my monthly deduction from my salary or have my broker withholding money for tax. So is there any other ways to pay off the capital gain now instead of next year?

2007-10-17 13:53:58 · 7 answers · asked by ww 3 in United States

Yep, Im 17, gonna work for ChaCha (i dont have a car, ok?). anyhoo, they want me to sign up for a w-19, am I subject to backup withholding and like I said, do I pay taxes? I live with my parents, arent I dependent on their taxes? born here and all that, legal, not a felon...

2007-10-17 13:12:36 · 9 answers · asked by billy 3 in Other - Taxes

Whenever I get a bonus check it is taxed at a straight 42%,does everyone get taxed this amount on bonus checks and why?I believe the IRS gets 25% while the rest goes to state,city and ss.

2007-10-17 12:41:52 · 9 answers · asked by toledojeeper 5 in United States

Im single, working fulltime, one job mother of one. Currently, Im claiming Single 1. Can I claim single 2, to include myself as an allowance as well as my child? Would it make a signifgant difference in my paycheck?

2007-10-17 11:56:08 · 6 answers · asked by jewels 1 in United States

I'm 16 years old looking for a min.wage job for like 25 hours a week. But after researching..i'd be paying about 30% of my paycheck just to taxes. seriously wtf?! Didn't our country fight a war to get rid of taxation without representation?! why am i being taxed when i can't even vote???

2007-10-17 11:50:41 · 7 answers · asked by stonesfan_17 4 in United States

I have recieved a couple months back letter from my state addressing that I need to complete my 04 tax return, something I swear I completed. During that time period I was going through a lot of personal problems, death of an uncle and birth of my daughter. Now I recieve a notice of assessment that is slamming me for close to 2k bucks and it puts me in a great bind. Under what grounds can I appeal this in my current situation? Thank you for your time.

2007-10-17 11:37:01 · 4 answers · asked by oftheangels25 2 in United States

I am paying £109 in Cornwall, for a 2 bed private rent house!

2007-10-17 11:35:13 · 17 answers · asked by Heidi T 1 in United Kingdom

I opened a store on eBay selling infant clothing & other baby items. I opened the store in April 2007, I was making around $1,000 a month from April until June 2007 when I put the settings to vacation settings until late August 2007. (My husband was in a car accident, I had to tend to him as well as insurance and lawsuits, so I didn't sell ANYTHING during that time period) This month, I have made around $1,100. I keep record of everything, I use a program through eBay and send everything to QuickBooks online. What EXACTLY do I need to get together and bring in when I have my taxes prepared? This is my first year doing this, and I have NO IDEA what I'm in for! I get a lot of items I resell on eBay, and they all have item numbers. Can I claim that as expenses? And can I just use the item numbers, or how does that work? Also, I am not quite sure how to print out all of my info once I'm in QuickBooks online edition. Any help is appreciated!

2007-10-17 11:08:42 · 3 answers · asked by Bella_Baby 1 in United States

someone told me this but i didn't get the chance to ask details. Is it true?

2007-10-17 10:58:33 · 7 answers · asked by the lady in red. 1 in United States

2007-10-17 10:48:53 · 2 answers · asked by Chris G 1 in United States

How come I have to pay taxes on my small business but these smucks that come over here that start a business do not have to pay taxes for 7 YEARS, yeas that right 7 years they do not have to pay taxes....and then after those 7 years are up they switch the business over to there childrens or cousins name and they dont have to pay for 7 more years...what the phuck is up with that?????

2007-10-17 10:43:03 · 7 answers · asked by Anonymous in United States

2007-10-17 10:40:04 · 3 answers · asked by Michael 1 in United States

I saved all of my receipts from credit card purchases, and was wondering if I could write it off for tax returns? I am a college student, currently without a job...I worked for about 6 months this year, though...

2007-10-17 10:18:34 · 4 answers · asked by puffer fish 5 in United States

I have been all over the IRS website and I can not find how much more one would receive if they were to get married and claim his wife as a dependent for the whole year of 2007 since she did not work at all? Its it a percentage? Is it flat amount? Is it based on husbands pay? Any one with the best info to help me out?? Thank you but please don't say look up the website of IRS..I have been on it for an hour and can't find any infomormation...OOh and chart if possible of what amount each deductable is would be great as well. Thanks again!

2007-10-17 10:08:04 · 3 answers · asked by Anonymous in United States

2007-10-17 09:57:14 · 2 answers · asked by Chris G 1 in United States

2007-10-17 09:44:23 · 3 answers · asked by a b 1 in United States

My mother passed away in May 2004. She left the house in a trust to be sold when her husband moved out. He moved this summer, the house sold, and I will get about $15K from the sale.
Is that $15K taxable to me? If so, should someone be sending me a 1099? Who would send it to me, the closing company, title company???

2007-10-17 09:21:14 · 2 answers · asked by Anonymous in United States

2007-10-17 09:18:36 · 7 answers · asked by Ryan D 2 in United Kingdom

I lost my US residency.When I reach age 70 I will have been out of the USA for 15 years.The bulk of my IRA will be from capital gains.Will the IRS tax me?

2007-10-17 08:56:26 · 1 answers · asked by graeme c 1 in United States

2007-10-17 08:33:00 · 2 answers · asked by sswweetdreamzz 1 in United States