Taxes - October 2007

Finch Construction Company provides its employees who are carpenters w/all the required tools. However, the company believes that this has led to some employees not taking care of the tools and to the mysterious disappearance of some of the tools. the Company is considering requiring all of its employees to provide their own tools. Employee's salaries would be increased by $1,500 to compensate for their addt'l costs.

Write a letter to Finch's managment explaining the tax consequences of this plan to the carpenters.

2007-10-07 13:56:50 · 2 answers · asked by futureCPA 2 in United States

my ex wants to claim my daughter on his taxes for "insurance" purposes, will she lose any money or eic if he does this. she has lived with him for 5 month by the end of the year, before that time she lived with me... I want/think that she should file single head of the household to be able to get more financial aid for college...what should she do,

2007-10-07 13:27:29 · 5 answers · asked by nsparky1 2 in Other - Taxes

i am looking at buying a car and the seller has allready paid for the shipping. the car is coming from hawaii and they state there will be no shipping cost to me at all. someone was telling me that there may be taxes due upon arrival. this is a 2900.00 car and i was wonderinf if anyone knew what these charge will be , or who i can cantact to find theis out before i finalize this transaction and end up losing my money.. any help will be very very helpful.....thanks

2007-10-07 13:01:57 · 1 answers · asked by djkjb74 2 in United States

Do you have to assume the mortgage after you pay the taxes at the tax sale?

2007-10-07 12:58:05 · 2 answers · asked by Clarence B 1 in United States

i went back to h&r block and they did an ammendment and i was supposed to pay 900 because it was added income and i lost credits, now i didn't get anything in the mail or anything. i wonder how much i am going to have to pay. the 401k people took state and federal taxes out and all i had to do was pay the penalty i dont understand why i have to pay the penalty at tax file time.

2007-10-07 12:50:28 · 7 answers · asked by Spankster 1 in United States

2007-10-07 12:44:57 · 4 answers · asked by roger p 1 in United States

We all live in the same state now, Ohio, and we are not sure of the law.

2007-10-07 11:52:25 · 4 answers · asked by leletanner 2 in United States

I just had my first child this year and I was told that I receive money from the government when i file my taxes. Is this true? if so do i have to file differently?

also what else can you claim on your taxes? i heard you can claim child care or other things.

plus don't be rude if you answer i know how some people are on here..so if you don't have an answer thats helpful please don't answer!
Thanks

2007-10-07 11:26:34 · 5 answers · asked by jeanettelynng 1 in United States

2007-10-07 11:01:17 · 4 answers · asked by missteaus 2 in Other - Taxes

2007-10-07 10:31:44 · 7 answers · asked by Bella 4 in United States

I sold a business about 2 years ago & am due to pay the CGT on the gain by End Jan 08. I have not had any earnings since that time & lived on the money made from the sale. Everyone gets a tax free allowance on their earnings , so can I not use my allowance to offset the CGT bill as I have not been able to take advantage of this allowance?

2007-10-07 09:34:26 · 5 answers · asked by Anonymous in United Kingdom

I heard that at around this time of year if you go to h and r block or amscot you could use your last paystub to get an advance (refund anticipation loan) before you get your W-2 in Jan.? Has anyone done this or tried to do it or does it just sound bogus? Someone told me they did it for christmas money but if you really could then dont you think everyone would????

2007-10-07 09:10:32 · 11 answers · asked by Anonymous in United States

I am a photographer that needs a tax ID number. I want to know what to do to get one, in South Florida.

2007-10-07 08:18:17 · 1 answers · asked by intriguevideo 1 in United States

I have a stock BPT (NYSE) which I keep just for the 10%+/year dividend it has been paying out. Will the capital gains taxes which I get charged on these dividends be equal to whatever tax bracket I am in, or is there a fixed tax rate on them which may be at some % less than my tax bracket (which I think is around 33 or 35%)? I'm hoping obviously that the latter is the case as I'd rather not get charged 30% in taxes on the 10% dividend that I'm making. Also, would the tax rate on stock dividend payout be affected in any way on how long I had held the stock? Thanks in advance for any pertinent and knowledgeable responses.

2007-10-07 07:32:09 · 4 answers · asked by Anonymous in United States

I bought EXM (Excel Maritime) on the NYSE at $13/share around Nov 2005 and it's at $59/share. I had heard somewhere that the capital gains tax is less if you hold on to a stock for more than two years prior to selling it at a profit and just wanted to find out if this is true because I'd hold off on selling for another month or two if this is the case. Thanks in advance for any pertinent and knowledgeable responses.

2007-10-07 07:10:01 · 2 answers · asked by Anonymous in United States

I know I am, after reading statistics on how many times a dollar earned is actually taxed....begins with income tax, tax if you save it and earn interest, taxed if you use money saved, taxed every time we buy something.
Also, have you noticed how every time a tragedy happens in our country, we have to raise money from our own selves...the citizens, to pay for helping others or providing the things government should be prepared for. In the mean time, we are in debt $600,000,000,000.00 due to war. Do you think America is being duped?

2007-10-07 07:06:17 · 2 answers · asked by Cub6265 6 in United States

2007-10-07 07:00:17 · 5 answers · asked by stanley c 1 in United States

I know IRS can take everything from somebody if they owe money for one or another reason.My spouse had problems before he got married for me, and he still have not taken care of them. I am worried that i can get in trouble because of him one day.Is that possible, and how can i prevent my savings and 401k?

2007-10-07 06:26:16 · 6 answers · asked by Poznai 1 in United States

2007-10-07 06:09:53 · 2 answers · asked by WILLIAM D 1 in United States

Any tricky people out there have an idea?


Not an organization, but would be for a educational purpose (horse), must get tax deduction.
Any ideas?

2007-10-07 06:04:47 · 3 answers · asked by HCOcowgirl 2 in Other - Taxes

2007-10-07 04:31:24 · 3 answers · asked by Randy M 1 in United States

I am self-employed and am sending in my first ever tax return, so am not quite sure what I can deduct from my tax bill. I work mainly from home, but also in front of clients.
Can I use rent, electricity etc?
Can I deduct any of the expenses on clothes, make-up etc used for work?
My mobile phone is a billpay, so I am not charged for individual calls, just the overall monthly charge. Could I charge all of the bill, even though I do make some personal calls?

2007-10-07 04:10:21 · 5 answers · asked by bumshelf 3 in Other - Taxes

I want to borrow on my federal income tax like I did last year and want to know how soon I can do that.

2007-10-07 03:49:37 · 5 answers · asked by Arthur H 1 in United States

I was thinking on doing my taxes in 2008 for 2006 and 2007. this the very first time I did not file and no I did not ask for an extension

2007-10-07 03:41:41 · 8 answers · asked by courtney p 1 in Other - Taxes

Is there a maximum amount the IRS will direct deposit for a tax refund before they just send out a check instead?

2007-10-07 01:14:24 · 3 answers · asked by paniked856 2 in United States

2007-10-06 23:57:50 · 3 answers · asked by James T 3 in United Kingdom

We moved at the beginning of the year and so I put my W-2's away until I could file. Well in April when I needed them, I could not find them anywhere. Filed an extension and now its October and they are no where. I am afraid they may have been thrown away accidently. I had worked for 2 companies during the year and my husband recieved a 1099 for a retirement withdrawl. Any advice on what to do? Can I have the IRS just figure out my taxes for me??? Thanks for any help.

2007-10-06 22:54:29 · 8 answers · asked by cooperandzoesmom 2 in United States

I am a free lance photographer and that is not my full time job. If a camera purchase can be a work related deduction, what does that mean? Is it a tax credit or just a deduction from my gross income? THANKS!

2007-10-06 20:17:01 · 7 answers · asked by beaver_1946 3 in United States

who here has had a foreclosure and can tell me about the aftermath with taxes....my main question is about the exclusions.....are there any circumstances where i wont have to pay the difference in taxes as income on a 1099? i heard if i have own/ live in the home for the last 5 years, i will not have to pay on that? is this correct?

2007-10-06 19:09:17 · 3 answers · asked by Anonymous in United States

I would like to file for taxes so that I can be eligible for student loans.

2007-10-06 18:17:19 · 7 answers · asked by khanjan_04 1 in United States