Taxes - October 2007

Do taxes have to be paid on contest winnings? If a person wins a writing contest, is the money received for the work considered earnings? If money is won from from a contest where no work was involved (no writing, painting, or whatever, they just entered and won), how is that to be reported on tax forms?

2007-10-01 07:42:26 · 5 answers · asked by maraso 2 in United States

I am requesting money from businesses to front me money to participate (i.e. entry fees to compete) in sporting events. Do I have to report this money as income and therefore pay taxes on it? Is there a maximum I can receive?

2007-10-01 07:27:20 · 4 answers · asked by Ben S 2 in United States

I have an online business but I didnt made any profit on it. I made a sale of 600$ all of them are sold to out of state customer? Do I have to pay state sales tax?

2007-10-01 06:52:27 · 4 answers · asked by Aldrin G 2 in United States

if you buy things from shops and sell it on (for eg newlook etc) do you need to pay VAT... because its had vat paid already.

2007-10-01 06:04:59 · 7 answers · asked by emnie 2 in United Kingdom

2007-10-01 06:03:39 · 1 answers · asked by Anonymous in United States

I just dont want to incure interest & past due charges to make up for the marriage penalty. Do you think they'll hit me with some back charges for that?

2007-10-01 06:00:16 · 8 answers · asked by Kevo 1 in United States

Should death duties not be 100%. Dead people don't need money.

2007-10-01 05:33:21 · 12 answers · asked by Barbara Doll to you 7 in United Kingdom

2007-10-01 05:13:15 · 2 answers · asked by Lakita L 2 in Other - Taxes

Maybe the question is kind of confusing, here are the specifics.

I'm gonna make $115k this year. This puts me just barely above the limit for being able to contribute to a Roth IRA. I love to save money, and I love putting money into the Roth.

BUT, I became eligible to contribute to a 403(b) this year. I can put away up to $15,500.

If I put the full amount into my 403(b), would my gross adjusted income then fall to $99,500, making me eligible to put the full $4k into a Roth IRA?

2007-10-01 05:00:06 · 3 answers · asked by Tom C 1 in United States

is there any way to get a new social securtiy number or block someone from claiming you, i have lived on my own for two years now and my mom claimed me last year and i ended up having to pay in! any advise on what to do??? i already know she is going to try to claim me again, and its not fair because she tells them i live with her and she pays for everything and its not true!!! i live on my own and i work and pay for EVERYTHING MYSELF! HELP! please and thank you in advance!!!

2007-10-01 04:33:32 · 5 answers · asked by *iN LoVe* 2 in United States

I have stayed home this year to go back to school. I worked last year and got the EIC. I am married. Do I need to go back to work to be able to get a larger EIC? Does it matter on if both parents work or just on the income of the family? There are 5 kids...I usually claim 2 and my husband claims the other 3. We file jointly. Does it make a difference if I work or do not work??

2007-10-01 04:29:48 · 3 answers · asked by ladyluckinor 2 in United States

2007-10-01 03:54:43 · 16 answers · asked by John L 1 in United States

i re married and went to live with my husband, i still had a mortgage on my property so i rented it out to my daughter,now my mortgage is paid, if i give my property to my daughter will i be liable for capital gains tax. thank you for your help

2007-10-01 03:11:26 · 3 answers · asked by wilde1 2 in United Kingdom

I have been working at Seven Elven.
The wage is $5 per hour. I think this is illeagal.
What do you think about it ??
How much is the wage in your city?

2007-10-01 02:48:38 · 14 answers · asked by Anonymous in United States

2007-10-01 02:41:32 · 3 answers · asked by LiStEN<<<Is Retired!! 4 in United States

It is currently 46% over $2 million, and in 2009 will be 45% over $3.5 million.

Also, does anyone expect a rash of suicides of rich, elderly people in 2010?

2007-10-01 01:34:29 · 7 answers · asked by Anonymous in United States

hi there, i am a 16yr old and recently got me a job at a burger king, i was so happy and worked alot, then this week i got my first paycheck! WOHOOO, but one problem , it says on it total pay $152, but with a $24 tax my net total comes out to be $128, isnt that a bit too much tax? i mean $24 is alot for a 16yr old, and if i keep on getting this tax can i file a return and how much of the original $24 will i get back? thanx for looking

p.s. it says on the agencies that cahrged tax,
it says FED, STNY, LNYR, DINY, FSOC, and FMED

2007-10-01 01:30:33 · 6 answers · asked by usman k 1 in United States

I just moved to south carolina and was hired as a sub contractor. How much is a safe amount to hold out of each check to be sure I have enough to pay my taxes?? I currently rent, am married and have 3 children.

2007-10-01 01:13:26 · 3 answers · asked by Redesign Diva 1 in United States

We've been together for 5 yrs, but he has fed student loans that are being garnished, I have 3 kids, own the house, both our names are on the vehicles and at the end of the yr, I get a decent tax return that we practically live off of, we just want to make sure we can get married and not jeopardize that, or worse they use my assets to settle his debt. Also, I don't want to lose that tax $$$

2007-10-01 00:21:23 · 5 answers · asked by Denise 1 in United States