Taxes - October 2007

I wanted to start my own consulting business, but it never happened, so there has been not activity in regards to the company nor the bank account of the LLC I created. I also have not filed any tax forms since the creation of the LLC. Em I in trouble?

2007-10-17 08:23:49 · 2 answers · asked by Luis R 2 in United States

2007-10-17 08:17:48 · 1 answers · asked by kevin 1 in United States

"Ohio currently receives about 600 million dollars annually from cigarette taxes. If smoking is restricted and fewer cigarettes are purchased, the legislature will need to compensate for the loss of revenue."

2007-10-17 08:03:51 · 3 answers · asked by Anonymous in United States

so im 20, and my sister is 17 and will be 18 October 24, she has lived with me for the last year and a half, she works almost full time, and she is a high school student, would it be possible for me to claim her on my taxes and would i need some sort of proof she lives with me? she doesnt get any mail, and her license and school have our grandmothers address (thats where she lived before she moved in with me) if you have any advise or info please help! i dont know anything about this stuff!!

2007-10-17 07:52:21 · 3 answers · asked by *iN LoVe* 2 in United States

Do you pay taxes on it? My mom who is 80 says no...Thanks

2007-10-17 07:52:20 · 8 answers · asked by brennastarr24 2 in United States

I am doing IVF in Jan, but can pay for it in Dec. I know that once I hit 7.5% I can deduct that from my taxes (which we are doing itemized) I have about 20% of my income going towards this, so my question is. Should I deduct it from this years taxes, pay for it in Jan and deduct it next year, or pay 1/2 in Dec. and 1/2 in Jan. so I can deduct it both years?????

2007-10-17 07:33:06 · 4 answers · asked by Sara P 1 in United States

a. federal government
b. state government (California),
please?
Thank you; your time and assistance is most appreciated! Ciao!

2007-10-17 07:26:51 · 4 answers · asked by James 2 in United States

If we do, then we're screwed because 2003 was the one year we had a 401k distribution, and unemployment compensation. So the NOL basically gets "soaked up" that year. All other years (2004, 2005.....) were normal income years where we paid a substantial amount of tax. What to do?

2007-10-17 07:11:09 · 2 answers · asked by cheri_adele 2 in United States

I know that the IRS is supposed to implement and enforce all tax laws and regulations, but who actually decides what the rate is in the first place? Is it the treasury? Is it a person or just an entity? Does he/she have a name or just go by a title? Also, is it different for different taxes (i.e. income tax vs property tax)?

2007-10-17 06:09:02 · 6 answers · asked by rexiemercada1984 1 in United States

2007-10-17 06:05:27 · 2 answers · asked by Anonymous in United States

o.k I was supposed to pay in april but I forgot about it! they send me a note/letter in august asking me to pay - so they gave me until October the 20th, but I still don't have the money! Can I call them to make an arrangement to pay?like montly payments

2007-10-17 05:59:27 · 6 answers · asked by Not of This World Returns 3 in United States

I though it had taxes all figured out, but then i read an answer here about a 48% tax bracket. I thought the last tax bracket is 35%?! So does it just keep going going?

2007-10-17 05:58:35 · 3 answers · asked by Anonymous in United States

2007-10-17 05:57:13 · 10 answers · asked by LadyClare 2 in United States

2007-10-17 05:01:27 · 16 answers · asked by Anonymous in United States

2007-10-17 04:27:34 · 3 answers · asked by Gary 2 in United States

Let me explain the question further>
You are named in a will from someone who does not know you and left money. How they got your name is irrelavent. Is it a legal and binding document? Does it have to be in the same state? Country?

2007-10-17 04:22:37 · 3 answers · asked by Jimmy S 1 in United States

what is the rate in % of tax do you pay if you earn 13650 p/a and national insurance.

2007-10-17 03:31:54 · 1 answers · asked by Aiden R 2 in United Kingdom

2007-10-17 03:20:02 · 17 answers · asked by Ziggy 1 in United States

2007-10-17 03:14:01 · 12 answers · asked by Anonymous in United States

Also...what money do you get back at the end of the year..federal??? Ughh....need some advice.

2007-10-17 03:10:49 · 8 answers · asked by Clearwater 2 in United States

2007-10-17 01:59:36 · 12 answers · asked by BingoBanggoBongo 1 in Other - Taxes

I wonder if this is simply because they won't give any to them!!!

2007-10-17 01:17:21 · 4 answers · asked by Plato 5 in United Kingdom

Why do they tax my investments and how can I save money?

2007-10-16 23:44:03 · 4 answers · asked by Anonymous in United States

I wanted to know how much the tax is or at least what taxes you pay in th USA. Do you pay income tax local government tax, car tax, duty tax, tax on goods.
Here in the UK its about 20% on tax and then 100 pounds on council tax and 17.5% VAT and then car tax
Is it really as good in the US as they make out??
Id be married with 3 children

2007-10-16 22:53:41 · 3 answers · asked by ladyxxmacbeth 3 in United States

If someone sells a piece of land that he or she owns in a foreign country, is this going to have to be reported as income to the IRS for taxes that are due?

2007-10-16 20:18:23 · 9 answers · asked by Anonymous in United States

cheapest amount

2007-10-16 19:54:26 · 8 answers · asked by Anonymous in United States

MY HASBAND PAYS CHILD SUPPORT AND THEY SAY WHEN YOU PAY CHILD SUPPORT IT ALSO COME OUT OF UR TAX RETURNES BUT WE HAD A KID TOGETHER AND I WAS WONDERING IF HE FILED ON OUR CHILD WOULD THE MONEY WE GET BACK FOR HER GO TO THE OTHER CHILD THAT HE IS PAYING CHILD SUPPORT FOR OUR WOULD ONLY THE TAX RETURNES FROM HIS JOB AND WE GET TO KEEP THE MONEY WE GOT BACK FOR THE CHILD HOW DOSE IT WORK I WANTED TO FIND OUT NOW SO I CAN KNOW AHEAD OF TIME.

2007-10-16 18:31:49 · 9 answers · asked by Anonymous in Other - Taxes

I work at sears..and my gross for the year will probably be around 7,000. IDK what I claimed. I have no idea how taxes work, do I get back all of federal and then some state? What percents? I live in maryland

2007-10-16 17:25:35 · 4 answers · asked by Anonymous in United States

This is for a college math class..I'm trying everything I can here!! Can anyone help out with ANYTHING on this loan problem? I have a test tomorrow, and our professor didnt go over this problem with us:

The Smith's want to buy a $144,000 house. Their income is $50,000 a year. They have $30,000 in savings. The current rate of interest is 7.2% APR. They would like to take out a 20 yr. loan. Taxes on this house is $2400 a yr. and the house insurance is $300 per yr.

Questions:
1. Can they afford the home?
2. How much can the Smith's afford to pay/month on the house, taxes, and insurance?
3. Estimate the total pay for the house.
4. Can the Smith's make a down payment?
5. What is the house payment not including taxes and insurance?
6. How much will the Smith's pay for this house at the end of their mortgage?
7. How much interest will they pay at the end of theis mortgage?
8. What will their monthly expenses be on this house?

If anyone has any input, please help!

2007-10-16 16:31:44 · 3 answers · asked by -♥-lovely 4 in United States

I am a college student studying taxes.
In my book it briefly mentioned that you can claim a vehicle expenses deduction. I know that for business purposes there is usually a deduction or reimbursement from your employer, but is there a deduction for a car with personal use.(either mileage or gas expenses) Also as a student would it benefit me to depreciate my car? (Not sure if I can do that either?)

2007-10-16 15:35:01 · 4 answers · asked by Chris R 1 in United States