Taxes - November 2007

Please help! Warning: Very detailed question. Thanx in advance anyone that can help me.

I live in Ohio, and I'm a sub-contracted Landscaper/construction guy. I receive a personal check weekly, drive my truck at work, hauling things and dealing with customers.

I had lots of personal time off this year so I brought home about 11,000. First off how much will I owe on that? 15% would be 1650, is that right?

I drove about 6,000 WORK miles of 6600 (90.09% work) on my new truck I bought in Sept. I've spent about $1300 total on gas.

Do I get to write off 36 cents (if thats what the rate is?) for all 6000 work miles? That right there would be like $2000 and would that mean a return for me? Before I even start on the 90ish% of the 1300 in gas receipts? Sounds too good to be true.

That's the way people have been explaining it to me, but It can't be can it?

And new truck was bought for personal use but 90% of it's use is at my job. Can I write a % of payments/insurance too?

2007-11-21 12:51:01 · 6 answers · asked by Anonymous in United States

2007-11-21 12:34:17 · 2 answers · asked by Tina G 1 in United States

a value-added consumption tax replaces federal income tax. This tax reform will shift the effect of taxes from income to consumption. are in favor of or against this shift. Also if the tax reform is carried out, how will the Federal Government's potential to conduct a fiscal policy will change?

2007-11-21 12:30:59 · 4 answers · asked by M_E_M_P_H_I_S 1 in United States

I've been doing a good amount of business travel lately. My employer reimburses mileage and provides a per diem. However, both those amounts are below the standard IRS rates. For instance, the IRS mileage deduction is $0.485 per mile, while my company reimburses $0.405 cents per mile. The IRS per diem for the region I travel to is $44 / day while my company pays $35 / day.
When I file my 2007 taxes, can I claim the difference between the allowable and actual reimbursements and an unreimbursed business expense?
I travelled 2,000 miles for business, so was reimbursed $810. At the IRS mileage rate, that would have been $970. Can I claim the $160 as an unreimbursed business expense? Is the scenario different for mileage and the per diem?

I'd prefer answers from folks who have actually faced the situation (or tax specialists) rather than speculation. Many thanks!

2007-11-21 09:22:36 · 4 answers · asked by jargent100 5 in United States

If I get $366.47 on my next check, after tax reductions and all that other stuff, how much should my check be?

2007-11-21 08:50:36 · 4 answers · asked by Mandy_x3 1 in United States

Hello,

Prior to our getting married, my husband had taxes that he owed on that he began paying, he is still currently paying on them. My question is, now that we're married - if we file married, but separately, I can't claim my interest paid on student loans, nor can I claim the child expense (so I'm told). It was suggested by an HR Block representative to file jointly, but that I also file a separate injured spouse form so that my refund doesn't get garnished to pay his back tax. Is anyone familar with this?

2007-11-21 08:26:02 · 1 answers · asked by mrs333luv 1 in United Kingdom

I worked for a school district and recently took all of the money out of a retirement account and was assessed penalties and taxed federally on the amount. I took the money out because I have not worked and needed the money. Since I have not earned any money, can I get the tax I paid back on this when I file my 2008 return?

2007-11-21 08:17:42 · 6 answers · asked by LoraC 2 in United States

I have been default on a student loan and they have began garnishing my wages. I heard that if you have dependents they are not allowed to garnish your wages or your income tax refunds. Is this true? How can I stop it? Is my tax refund in jeorpardy?

2007-11-21 08:07:23 · 5 answers · asked by Jambalaya 4 in United States

HI, my husband and I just had a new baby in September and I wanted to know what I should change my w-4 to? Or should I just wait until the first of the new year?

2007-11-21 08:03:48 · 6 answers · asked by mrs333luv 1 in United States

2007-11-21 07:37:29 · 7 answers · asked by Elle 3 in United States

2007-11-21 07:26:05 · 8 answers · asked by Derrick T 2 in United States

2007-11-21 07:01:23 · 6 answers · asked by Tireless 2 in United States

My boyfriend filed taxes last year after his dad did. He tried to claim himself and basically was told that since he was already claimed that he had to re-do it. Well he has since moved out, but his dad still plans on claiming him. What's the earliest that you can have your taxes done? He wants to get his done first so that his dad can't claim him this year. Also, how much do places usually charge to do your taxes for you? Thanks!

2007-11-21 06:13:28 · 4 answers · asked by Anonymous in United States

I am doing this for tax reasons.

2007-11-21 05:57:37 · 7 answers · asked by LK 2 in United States

my boyfriend and i live together and have been for 5 years. i have 2 children and we both want to claim a child this year. can we both file head of household when claimimg a dependent?

2007-11-21 05:29:37 · 3 answers · asked by Kathy 2 in United States

2007-11-21 05:16:30 · 1 answers · asked by K D 1 in United States

2007-11-21 04:55:35 · 3 answers · asked by Anonymous in United States

Hello,
I'm about to start a job where I am telecommuting and traveling around the US. I live in NY state, but do not live in NYC. The office where I am out of is based in NYC. Will I have to pay NYC tax? Will I get it back at the end of the year? Is it better to ask to transfered to the NJ office?

2007-11-21 03:47:54 · 1 answers · asked by Anonymous in United States

My parents live with me at my house, they pay me some money as rent, and I support their food, utilities and other miscellenous expenses. I am going to cliam them as my dependents on my 2007 tax return. Do I need to include the money they paid to me as rent on my tax return as rental income?

2007-11-21 03:06:58 · 4 answers · asked by cathy 1 in United States

I have a consulting business (s-corp). Can I report a loss during periods in a year when I have had no clients and essentially no earnings during these periods? I have regularly paid myself a salary in these periods.

2007-11-21 02:25:46 · 2 answers · asked by Anonymous in United States

which tax forms do I use in this case? Thanks

2007-11-21 02:18:51 · 6 answers · asked by bigwil 1 in United States

My GF and i are thinking of getting married at dec, one of the reasons is for this tax credit.

We make the same around 50k each. we have no kids, good credit, no past taxes due, we both normally get refunds by ourselves, we both claim single 0. should get file spearate or jointly?

2007-11-21 02:07:40 · 7 answers · asked by Michael T 2 in United States

I would like to get an estimate of how much my return is going to be for a temp job that I had. I was making 9.50/hr @ 40hrs/wk from the month of January up until July, thats about 10460 before taxes. I can not find my last pay stub to show the last amount of taxes withheld, could someone please help me?!?!?!?

2007-11-21 01:55:02 · 5 answers · asked by smile_new_life 1 in United States

If my baby is born in March of 2008, I would have the Social Security Number. Am I allowed to put this on my return and claim the deduction? If this isn't allowed and I do it, would there be a penalty other than the deduction being disallowed?

2007-11-21 01:23:59 · 11 answers · asked by tomwirsing 1 in United States

2007-11-20 23:39:48 · 6 answers · asked by JellyCat 4 in United States

How much would it cost to bring a Hummer H2 to the UK from the US? Im not planning on buying this particular verhicle, however, me and my friend are trying to see if it would be cheaper to import a car from america than to than buy it from here in the UK. So we using this as an example.

Does anybody know the shipping and Import Duty cost on it or how to work it out?

Some info:
The Hummer H2 is 2903kg net weight.
Distance from NYC to London is about 5500km
The Hummer H2 Costs around $55,000 in America.
The same Hummer H2 costs around £38,000 in the UK ($78,089.61)
Cheapest shipping possible.

Its definately more expensive to buy a car in the UK so thats why we want to know if its worth buying from abroad.

Thanks

2007-11-20 21:42:15 · 6 answers · asked by Anonymous in United Kingdom

2007-11-20 21:17:20 · 1 answers · asked by Alex D 2 in United States

i wona do my ifta i dont know how to do get started
what do i need for that

2007-11-20 18:28:15 · 1 answers · asked by Anonymous in United States

Hi ...I am a small time trader on Ebay...
I sell mostly used stuff..and make some money out of it.

Is my income taxable..?

If yes..how can I reduce or save money off such taxes...

2007-11-20 18:22:03 · 4 answers · asked by jardinpaul 2 in United States

For example, if I donate $1500 (cost) worth of items to a local high school, is that deductible as a charitable contribrution? (Are high schools "qualified charities"?)

2007-11-20 18:08:40 · 3 answers · asked by John E 1 in Other - Taxes