Taxes - October 2007

First off what is the difference. Mostly what is the best way to select these things if you want to get not too much or too little back on your taxes and NOT have to pay at the end of the year. Here Is my situation. I am married and plan on filing jointly because that is best RIGHT so.. should I claim myself AND my husband as an exception or NO? I don’t understand this. If I do should he do the same? Any feedback would be great.

2007-10-05 09:17:10 · 2 answers · asked by Anonymous in United States

about 200k in saving. Do I have to pay tax when I receive the check as my name for my individual tax? I have paid all the taxes as corpration.

2007-10-05 09:06:38 · 4 answers · asked by MASAKI A 2 in United States

2007-10-05 09:01:47 · 8 answers · asked by Anonymous in United States

2007-10-05 08:52:07 · 5 answers · asked by Andy 2 in United States

I recently cashed out some Stocks and Savings Bonds and was wondering how much I had to save for taxes. I cashed out $6,750 in Savings Bonds and $4,500 Stocks. I'm gonna file single and no taxes have been paid on any of the stocks or bonds and this is for 2007. Is it still 10% up to $7825 then 15% on the rest? If that is my only income in 2007 am I right that I'll owe roughly $1,300 for 2007? Doesn't have to be exact just making sure I save what I'll need to pay for taxes so I won't be in debt. This is the 1st time I've messed with stocks and bonds (Oh yeah, They were EE bonds) and not sure about taxes on them. Thanx

2007-10-05 08:38:26 · 7 answers · asked by Jeremy 1 in United States

We live in Virginia. Total household income is $84,000. The private stock was free to us (me) years ago from a family business worth about $85 million. What will be our federal and state taxes on this check?

2007-10-05 07:49:21 · 8 answers · asked by todd b 1 in United States

2007-10-05 07:28:38 · 4 answers · asked by Anonymous in United States

I was hired to work for a company and I have been receiving checks from him without taxes being taken out. Here are a couple things...

1) I am just myself, no wife and kids... doing a 1099 though I have not filled anything out yet...(make sense?)
2) I was called to get general liability insurance so when his company is audited, I have proof. He gave me another option of going under his but ... I would still pay?? I figure that should be his doing
3) The company I work represent is his side company but I receive checks from a ceiling company he owns, again this is a tax free check.

Question part B
I don't think I am being screwed but my guess is he's saving his *** from the audit, correct? Well how is it that I need GL insurance when I don't have a company or anything of that sort?

2007-10-05 07:24:06 · 2 answers · asked by anotherday 1 in United States

i am 26 single mom of 1 child recieve no child support make aprox 27 k a year. i get earned income of about 3k when i file my takes. i use this money to suppliment my income (meaning i couldnt pay all my bills with out it). my live in boyfriend does help me financially (no where near like he should) question is if i where to marry this guy would i no longer recieve my 3k earned income. lets say he only makes about 13k a year. if i did marry what would be my best bet at filing, married but filing seperate ?? i am trying to figure out if i can afford to get married, lol.

2007-10-05 06:36:26 · 3 answers · asked by love2last 4 in United States

Since 1992 through 1998 I was in college. I did not work and took out financial loans to pay for college costs. I did not file tax return for those years, should I have?

Since 1998 to 2004 I worked low paying jobs and everytime I would walk into a Tax Preparation office to file a tax return, the tax preparer would state 'You can file BUT you didn't make enough money to file'. What does this mean and what is the income per year that doesn't require you to file a tax return?

In 2005 I worked two salary positions and got scared to death since it has been sooo long since I have filed a tax return, and I did not file. What should I do now?

Since 2005 to 2007, my wife operated a child home daycare and I had no income. If I didn't have a job, do I still have to file a tax return?

Very recently I received an offer from a company and would like to begin working. Is there anything I have to take care of before I receive my W-2 from this employer in January 2008 so I can file for this job? Thanks for anyone who helps me with these questions!

2007-10-05 06:16:52 · 6 answers · asked by FilingReturns 1 in United States

I know that there are so many variables to consider in this question, but I would like to know a general figure about what to expect. I make less than $21,000/year. I hope to get an Earned Income Credit, as well as deductions for my two children and a home office (room used exclusively for my homebased business). I'm trying to work from home, so I can afford to continue giving my son homebased autism therapy. Do you think my tax refund will be around $3,000? If so, I can use that money each year to prepay a year's worth of rent in a mobile home so that I can continue what I'm doing. Not the typical way of doing things, I know, but I'm just trying to avoid putting my son in a public school autism class, where he wouldn't receive nearly enough individualized attention.

2007-10-05 05:58:49 · 2 answers · asked by merebear83 2 in United States

How much of a write off do I get for my new business as a whole? For start up, we have spent about $8,000 for equipment, supplies, uniforms, etc. and so far we have made about $1,000. How does that work...will we owe? :/

2007-10-05 05:46:13 · 3 answers · asked by Viennacardinal 3 in United States

I know the tax rates are different, but if I offset a $1,000 shorterm gain (held 4 months) by selling another stock for a $1,000 longterm loss (held two years), will this net zero?
Thanks

2007-10-05 05:06:20 · 1 answers · asked by ? 3 in United States

A frew days ago I received a mail from the suposedly National Lottery from the United Kingdom saying that I won 2 million dollars, and they told me that if I what to receive my cheque from the United Kingdom I have to pay de shipping (I live in Guadalajara Mexico). The company of shipping is "Universal Air Courier" and the name of the suposedly Director is Smith Stanford.
I really don't know if this is true, so my question is....
Does this Shipping Company (Universal Air Courier) really exist ??? and How could I know if all this is true?? How can I be sure that if I pay for that cheque shipping is not a fraud ???
PLEASE HELP MEEEE !!!!.

2007-10-05 03:55:31 · 11 answers · asked by cd.charles 1 in United Kingdom

my question is are there a part in the contract they sign between the attorney office and them that said this will be taken care of this year (contract is long and confusing) and another thing is on the bill, where it has the owner it saids owner as of january 1 and has somebody else name there, but it is my parents house.

2007-10-05 03:34:36 · 3 answers · asked by jesuisjean13 2 in United States

If I were to make 25,000 in a year, about how much would i lose in taxes (before tax returns). I'm about to change jobs for a major pay cut (like more than half) and i need to know this before I bounce from the job i despise.

2007-10-05 02:44:30 · 3 answers · asked by Andrew M 2 in United States

2007-10-05 01:50:52 · 1 answers · asked by Pauline M 1 in United Kingdom

2007-10-05 01:08:49 · 9 answers · asked by Anonymous in United States

2007-10-05 00:36:48 · 11 answers · asked by Cindy G 1 in United States

2007-10-05 00:19:34 · 1 answers · asked by Banker 1 in United States

I decided to file Scedule C because it is easier. I have been selling things since December 2006 and need some advice on how to pay taxes retro... or even mention it?
Let me know guys, Thanks a bunch.

2007-10-04 22:51:56 · 3 answers · asked by Dental B 1 in United States

2007-10-04 18:55:36 · 6 answers · asked by emil g 1 in United States

2007-10-04 17:43:19 · 3 answers · asked by WHOISTHEPUPPETMASTER? 5 in Other - Taxes

If someone owes over $8000.00 in back taxes and have yet to file for about 3 years ( not included), what would be the best way for them to go about paying off their taxes ( a little at a time if possible).....or do they need an attorney or can they call the IRS and set up payments?

2007-10-04 17:40:03 · 5 answers · asked by WHOISTHEPUPPETMASTER? 5 in United States

If a person earns $1000.00 bi weekly before taxes, around what will they earn after taxes when claiming only one?

2007-10-04 17:35:58 · 3 answers · asked by WHOISTHEPUPPETMASTER? 5 in United States

my buddy lost his wallet at the club and now doesnt have any ids to cash his check

2007-10-04 16:56:29 · 4 answers · asked by steve r 1 in United States

I just started a newspaper route and they dont dedcut taxes. I know if i dont take out the taxes when i cash the check i will be screwed when tax time comes. How do i figure out much money i need to take out each paycheck? Can someone help please

2007-10-04 15:44:04 · 6 answers · asked by Neva L 2 in United States

Connecticut currently has a law that exempts sales tax on hybrid cars. If I'm not a resident of that state, can I still go to CT and buy a hybrid car tax-exempt?

2007-10-04 15:25:27 · 3 answers · asked by Anonymous in United States

I'm thinking about selling some rentals I've never lived in. The gains won't be that high so I'm considering just selling and paying the gains tax. My question is: is that calculated on the difference between the prices (plus the depreciation recapture) or can I subract out excise tax, fees and commissions? What if I am the agent?

2007-10-04 15:06:13 · 4 answers · asked by shaakon1 1 in United States

I watched a television program a few years back about finances and a young couple who where trying to save money to buy a home. The husband had a full time job and the wife worked part time. The wife's part time income tossed them into a higher tax bracket. As it was calculated out, they would have actually saved money by her not working. I think they might have had some child care expanse as well, but not really sure. Upon hearing this, the young women broke down in tears and said "you mean I have been working for nothing?" My heart felt for this couple and got me wondering about myself who always quickly volunteers for overtime. Am I doing the same as well?

2007-10-04 14:40:13 · 9 answers · asked by nancie_usa 5 in United States