Taxes - October 2007

I'm a graphic designer with a fulltime job and on occasion pick up some freelance projects. I have not done any freelance work in 2007 but did a bout 3 projects in 2006. I recently got a letter saying that I owe a business tax. Am I required to pay this eventhough I don't really have a business?

2007-10-10 14:54:39 · 3 answers · asked by Geloman 1 in United States

My question is that can I claim part of my utilities like hydro, gas and water bills from revenue canada. Please answere my question. thanks.

2007-10-10 14:54:07 · 3 answers · asked by Nasir Q 1 in United States

My employer told me that it wasn't a problem. If I want to "turn her in" and report this to someone, can I as the employee get in any trouble and how do I report this?

Thank you for all responses!

2007-10-10 14:21:22 · 8 answers · asked by AJ 1 in United States

Heard on local radio 9/27...but can't find anywhere...
Is the IRS thinking about fazing out the interest deduction that homeowners have on their mortgage payments?

* We lost the deduction for interest paid on car payments
* We lost the deduction for interest paid on credit cards

Now they are going to do away with this VERY NEEDED deduction on our taxes?

Please advise and thanks!!

101007 7:50

2007-10-10 13:53:40 · 11 answers · asked by YRofTexas 6 in United States

Last year I quit my job in a medical group to follow the doctor i was working for when he started his own private practice since i was the only employee he asked me to work as an independant contractor until he established the office..so I agreed. He told me that i would be able to work under his office license...WRONG. I just recieved a letter from that city stating that I owe a business tax license and I have to pay a penalty for not having my own business license and working in their city! Should I try to have that doctor pay for this because he should of known that i needed this. I was young and didnt really understand what i was getting in to. He also told me that when i did do my federal taxes that it would be no more than 1000...it was 7000. I no longer work for him!

2007-10-10 13:47:16 · 3 answers · asked by Anonymous in United States

2007-10-10 13:27:31 · 1 answers · asked by Ira S 1 in United States

i know some parents that are illegal immigrants who have children in school and are paid in cash. im not sure why theyre paid in cash, maybe because they dont have an id or something, but anyway how will they be able to file taxes if they have no proof of income. also for those who are trying to fill the fafsa, what can they do if their parents are paid in cash. should they put "will not file taxes" what exactly would this do to the ppl applying for the fafsa?

2007-10-10 13:20:47 · 8 answers · asked by ???? 2 in United States

HI, I have a situation here : My relatives from overseas asked to buy a luxury car for them here i US and ship it to them, so I did. They deposited money to my US bank account ,then I took that money and bought and shipped that car over seas to my relatives. I did NOT earn any penny on it. When tax time comes what should I do? Thank-you!

2007-10-10 13:09:46 · 4 answers · asked by e-kiss 2 in United States

Or do you only have to pay taxes on what you convert to cash? For example, say someone has $5,000 in their e-gold account and uses only $1,000 of it on a debit card. Do they pay taxes on the $5,000 or the $1,000?

2007-10-10 11:47:49 · 2 answers · asked by kfount400 2 in United States

My sole income is my retirement of $1800/month in S/S, The IRS is taking out $1100/month leaving me $700 net per month for rent, utilities, etc. I don't own a car or house and have no tangible assets. I have been relying on my S/S check and it's getting very difficult to live. Isn't there a maximum limit they can take out per month. They've been taking the $1100/month for well over a year and I'm starting to hurt. Do I have any choices or options? Thanks.

2007-10-10 11:41:00 · 6 answers · asked by kenilworth209 1 in United States

I have heard that both the Federal Reserve and the IRS are private organizations and the IRS serves as a collection agency for the Federal Reserve thus the question.

2007-10-10 11:20:23 · 10 answers · asked by Anonymous in United States

thank you

2007-10-10 11:01:43 · 5 answers · asked by mishmallow8 2 in United States

I'm trying to file a 2005 tax return and I can't find where to report my 401K. Any help would be greatly appreciated.

2007-10-10 10:48:59 · 8 answers · asked by roberts.murray@att.net 1 in United States

I used to work for Rover Group and had a pension in the group pension scheme. I am looking for contact details for whoever is now running the pension scheme (phone, email ?)

I believe they were moved around during the sale from BMW, but I can't find a final outcome ?

2007-10-10 09:45:40 · 4 answers · asked by cbs220270 1 in United Kingdom

2007-10-10 08:53:13 · 2 answers · asked by micahslittlesister 1 in United States

We're moving and have about 4-5 Large Black Bags of Clothing, toys and kitchen stuff... Nothing is broken, stained or really old.

We live about 30mins from Goodwill but there is a location about 2mins from me where i can just drop off stuff and the GoodWill truck will pick up.

My question is.. Is i really worth the 30min drive to get a receipt for a tax deduction? Or should i just drop it off mear my home?

Dont know if this helps but we donated a car this year also.

2007-10-10 08:52:00 · 4 answers · asked by ladyeve983 2 in United States

When bookkeeping for a proprietorship and they have a busniess bank account do you have to reconcile the account? They have been making alot of personal purchases through the business account, which I cannot put in, but does it really matter becasue they have to claim it all on there tax return anyways?

2007-10-10 08:30:47 · 2 answers · asked by Anonymous in Canada

I know that we get allowance for goverment each year on our tax.
But I forget how much is it?
I remember between $12k? if my medical expense isn't over that amount, I couldn't ask for more refund, but if its over it I could ask for more.
But I don't remember the exact amount on the allowance.
Please help!

2007-10-10 07:51:08 · 4 answers · asked by booboobooboobooobooo 3 in United States

Whats the difference between filing joint or filing seperate? Is it wrong to file seperate if you a legally married? Also If its not wrong what would be better to file joint or sepetate if my wife has been working only since Aug, making less than 10k per year?

2007-10-10 07:37:16 · 7 answers · asked by Mark M 1 in Other - Taxes

I bought a home last year, and when I filed my taxes they told me I could not itemize my interest, not sure why, maybe its because I bought my home in april. But anyway is there a certain amount of interest that needs to be paid in order to itemize it? Also can you itemize the interest on a car. And also for charity cost, e.g. church offerings? Let me know

2007-10-10 07:34:37 · 2 answers · asked by Charlie M 1 in United States

I filed an extention on my federal taxes for last year. I know the deadline for the extention is coming up soon. What is the deadline? And do they have to have it by that date, or just postmarked by that date?

Thanks!

2007-10-10 07:08:25 · 4 answers · asked by sqeezemypanhandle 1 in United States

Where do they get it from to take 5,000 from someone, then all the sudden give it back?

2007-10-10 07:00:46 · 4 answers · asked by denimcap 4 in United States

Would it make more sense to move to PA if I can? I would then probably be paying city taxes as well. Anyone who has had this situation or knows of it please help! The commute is not an issue on either one, I just would like to know what would make the most sense

2007-10-10 07:00:19 · 3 answers · asked by KT102 2 in United States

I have a small vehicle repair business and go for parts everyday, so i want to use the mileage for income tax purposes. Do i have to write down the starting and ending odometer readings each day???

2007-10-10 05:35:18 · 7 answers · asked by smi_le_y 2 in United States

In order to avoid bankruptcy, during a 9 month period of unemployment, It was necessary to take early distribution monthly from 401K for income. Are there any hardship provisions for this type of "forced" early distribution?

2007-10-10 05:31:47 · 5 answers · asked by nikkisdaddyo2000 2 in United States

I'm about to turn 24 and I've never filed taxes. (oops)

I've been working as a waitress "forever", and the other times I've worked in other ways, my income was still very low. I've recieved W-2s for most of the jobs I've been at, but never did anything with them, mostly because I'm an idiot where it concerns taxes and had no idea what to do.

I've been abroad as a tourist almost all of this year so I have no income to speak of for 2007. (I know what you're thinking. "She's been abroad for over half a year on a waitresses budget?" but yes. I am staying with a family and minimizing expenses. I'm in Venezuela, not Europe, lol)

Should I file now for all the years? Could I potentially get a refund? Might I owe money? Is there a "tax filing for dummies" book? lol. Help...

2007-10-10 05:22:35 · 5 answers · asked by Lexi St.Laurent 1 in United States

i paid for everything till september what do i do

2007-10-10 04:52:20 · 7 answers · asked by mars46750 1 in Other - Taxes

2007-10-10 04:23:30 · 4 answers · asked by Julie H 1 in United States

He said future retirees should receive smaller Social Security benefits than they have been promised.

Do you think this is fair? I know Americas is in bad shape but, if we get less when we put our taxes in for years just get a pat on the back. How am I, whom is going to get less make my bill payments?

2007-10-10 04:20:01 · 5 answers · asked by Don't Know 5 in United States

I filed a state tax return for 2006(in Massachussetts).But the IRS asked for my wifes SSN.Since she dose not have it and can not have it,I did not reply the letter.As a result they did not process my tax return.Can I still do something or I should wait for the next year? Thank you.

2007-10-10 03:55:42 · 3 answers · asked by rajesh 1 in United States