Taxes - October 2007

I just read that Oprah makes 200 million a year, and i've heard of others like paris hilton making 35 million a year...

Im canadian and don't know how american tax works. Is it a standard tax or is it based on income? Thats a lot of tax on 200 million!

2007-10-08 15:24:27 · 2 answers · asked by Anonymous in United States

OK I need some help ASAP My hubby does not let me see what he makes and I just found one of his pay stubs and I'm SO UPSET!!! For one he works away from the home Mon-Fri and he always say's "I forgot my pay stub or I put it in the trash"... Me and my two kids eat like s**t all week and I'm sure by what he makes he eat's very well... Right now we are past due 2 mo's in rent, I have 2 Elc bills, and I had to go to the Salvation Army to get help paying my water it get's better I had to go to a church for food last week... He always say's well they take out so much out in taxes so on and so on... I have been with him for 16 yrs and I'm about to walk ((OK I'm done B**CHIN)) This is the thing We live in Florida and I'm guessing by the end of this year he will make 47,000.00 and as of right now he has paid ONLY paid 1,358.00 in federal withholding... So we do not owe the IRS how much should he start paying weekly into federal starting this week... If say he makes 900.00 a week...

2007-10-08 14:48:43 · 2 answers · asked by ~~Lisa~~ 4 in United States

Im a US citizen starting work with a US company that offers a 401(k) plan with a "Roth" option. Since I live overseas, I'll be able to use the foreign earned income exclusion to exclude all of my income from this job. Does anyone know if I can make the Roth 401(k) election under these circumstances? If I do, do the Roth 401(k) contributions somehow become taxable?

Thanks in advance for your help.

2007-10-08 14:48:15 · 1 answers · asked by NotEasilyFooled 5 in United States

If i give $1,000 to an local NON Charitable organization with the intent that they will of finally given that money to the Red cross. Is that 1,000 deductible on my tax return?
*they did donate that money

2007-10-08 14:36:49 · 4 answers · asked by clugolf 1 in United States

Hey Yahoo! Here is my situation: I am 23 years old and have been living on my own for just a couple of months now. Whether out of immaturity or laziness I haven't filed my taxes in the past 2 years. The thing is that I doubt I owe the government and money so I'm not worried about that. I just worked a couple of part time jobs while I still lived at home so I'd be surprised if I made over 4k a year for the past two years.

My problem is that I want to go back to school in January and I wish to apply for financial aid. Unfortunately, I need my financial information in order to do so. I honestly have never done taxes on my own so I don't even know where to begin (the last time I had filed my taxes my father did so for me but I am no longer in speaking terms with him). I'm guessing I need my W2 forms to start but I don't have those anymore. Does anybody have advice for somebody new to filing taxes?

2007-10-08 14:34:09 · 11 answers · asked by Bluebluemcgoo 1 in United States

2007-10-08 13:18:42 · 5 answers · asked by YVONNE R 2 in United States

what does that mean to you? should it be changed? what can one do?

2007-10-08 12:30:44 · 4 answers · asked by jeremybayes 2 in United States

I've been told by my first controller that I worked with, that only the people who USE their SSN as their Tax ID are eligible for 1099? And I've been told by my second controller that its not true, there may be businesses that use their own business ID tax but are not corporations but LLC that are eligible for 1099 ? Who is right! Thank you!

2007-10-08 12:10:44 · 4 answers · asked by Naya 2 in Other - Taxes

2007-10-08 11:34:46 · 5 answers · asked by tpyne28 1 in United States

My sister and I purchased a new home in 2004. The form 1098 has both of our names as payer/borrower with only my ss#. We've been splitting the mortgage interest deduction, but this year after my sister already filed her 2006 return, someone mentioned to me that I should be the only one to claim deduction for the mortgage interest. I need to file my tax by 10/15/07 and was wondering if anyone can help me out on what to do! p.s. I didn't have enough income to pay mortgage last yr, so my sister paid mostly...

2007-10-08 11:25:19 · 5 answers · asked by Qtip07 1 in United States

2007-10-08 11:25:01 · 10 answers · asked by Anonymous in United Kingdom

My sister has recently received a ton of treatments and I have had to help her with the copayments. They have totaled over $50k this year and she is not claimed on my taxes. Is there any way I can get tax relief from all the out of pocket money I have spent?

2007-10-08 11:02:38 · 10 answers · asked by Paul J 1 in United States

I recently purchased an item from the Blockbuster Online Outlet store. The item shipped from Texas (where the warehouse is I guess.) However, I was charged NJ sales tax. I tried calling customer service but they guy who helped me didn't really know anything about sales tax. "Don't worry, sir, we wouldn't do it unless it was legal." I thought they could only charge sales tax if they had a presence in my state. There is no Blockbuster Online Outlet warehouse/store in New Jersey.

2007-10-08 10:35:22 · 3 answers · asked by dodge66trio 2 in United States

(Sorry for my bad english) I need to know how many cost to send by a courier a Handycam, please the total cost (including all the taxes). Answer me please!!

2007-10-08 10:20:33 · 2 answers · asked by Carlos V. 3 in Other - Taxes

I thought the more money you make, the higher the tax? But it seems like they tax up until you're filthy rich, then you don't get taxed anymore.

2007-10-08 10:05:33 · 7 answers · asked by lost.in.love 4 in United States

if someone gets a salary of £25,000 - how much will they come out with per month after tax and national insurance contributions? thanks

2007-10-08 09:42:57 · 7 answers · asked by volvic58 2 in United Kingdom

2007-10-08 09:28:58 · 1 answers · asked by ~mommy2alex~n~maria~ 2 in United States

2007-10-08 09:05:04 · 1 answers · asked by Scarlet 2 in United States

My wife and I are buying a new house in MD where the state and county transfer taxes will be about $8000. We are going to close in December this year, but will probably take a standard deduction. Can we deduct the property transfer tax even though we are going to take the standard deduction this year? Are transfer taxes deductions or credits?

2007-10-08 09:00:28 · 4 answers · asked by Mike F 1 in United States

2007-10-08 08:58:22 · 2 answers · asked by Ann M 1 in United States

Hello all

Have a question on my car allowance and mileage claims. I use my own car for work purposes and for the last 2 years have received £450 per month and 16p per mile with a diesel. I have never claimed anything else other than this from my employers. Now i have recently changed jobs and been offered £420 per month as an allowance and 11p per mile. how do i go about reclaiming the rest of the allowance as i believe i should get 40 per mile for first 10000, then 25p after with a P87 form, can i backdate this form ? how much will this mean to me in real money terms when i make the claim or will it just increase my tax code ?

Sorry for all the questions but everyone i ask at my new work place seem to claim different amounts from 35 per mile down to 11p per mile so i am very confused and after looking at the P87 form i am now even more confused.

Thanks in advance

2007-10-08 08:36:39 · 3 answers · asked by Johnyboy 2 in United Kingdom

As I have said above I am trying to work out whether it would be better for me to self assess my tax return.

I have been in the higher tax bracket for 3 years now as a company employee, but have not recieved a self-assessment form.
Other than my primary income I do not earn anything else.
My investments do not incur capital gains tax .
So my tax affairs seem very simple, so would be easy to calculate.
Does anyone have any advice on this?
TIA

Chris aka BoobBoo

2007-10-08 08:31:47 · 1 answers · asked by boobboo77 2 in United Kingdom

2007-10-08 07:23:12 · 3 answers · asked by blueticker15 1 in United States

My father wants to leave me the value of some property he is selling ($90,000), and since it's all he owns and he was going to leave me the property in his will anyway, he says it's inheritance and we know people who have left their children inheritance while they're still alive. So my question is, how would we claim this as inheritance and not a 'gift' under the IRS? Do we need to fill out a form? Does he have to be dead for this to take affect? Is there a limit on how much you can claim as inheritance?!

2007-10-08 06:47:03 · 4 answers · asked by hrgirl1701 4 in United States

I opened a mechanic shop in January of this year and am in need of a laborer, but dont want to have to pay employment taxes or buy workmans comp at this time, how do i go about hiring a contract laborer? Maybe next year if the money is coming in good I can hire as employee and pay taxes and stuff.

2007-10-08 06:38:20 · 3 answers · asked by smi_le_y 2 in United States

2007-10-08 06:23:58 · 8 answers · asked by Stacey B 1 in United States

Including Social Security, Medicaid, Federal & State withholdings

2007-10-08 05:30:08 · 6 answers · asked by Tawnya d 1 in United States

I am planning to rent my townhouse and move to another city in the same state.
If i rent in the new city can o claim my rent as an expense for doing business....since i am technically in the renting business.

2007-10-08 05:26:20 · 5 answers · asked by znafar 1 in United States

I would like to know if there is a chart or list to see how much % we need to pay for every dollar we earn. I know that the more you earn the more taxes you pay but it seems to me a little to much to pay 19% for 700 a week...and it is only for one week that I received a bonus!!!

2007-10-08 05:16:49 · 3 answers · asked by Cici 2 in United States

In US, do people usually count their tips or not when declearing personal income? Does government have an effective way to track this kind of all-cash income, or people just do this by morale?

What about countries in Europe?

Thnx.

2007-10-08 04:43:26 · 3 answers · asked by Remyflt 1 in United States