Taxes - November 2007

If so, how do they go about taxing you on what you've earned?

2007-11-15 09:38:58 · 5 answers · asked by TheChicagoKid 2 in United States

On one hand they are suggesting the new Fair Tax will be collecting taxes from the underground economy (illegals, criminals, etc) that we are not currently collecting because they will now have to pay tax at the register. Ok, that makes perfect sense.

However, on the other hand, they make such a big deal about all the embedded taxes we are already playing (22% supposedly) and that with the Fair Tax at 23%, the net is only 1%. Well, if the taxes are all nearly embedded anyway, then are we not ALREADY collecting the taxes from the underground economy???

It SURE seems like Fairtax.org and the proponents of the fair tax are trying to have it both ways.

This approach seems dishonest and conflicting.

2007-11-15 09:09:23 · 5 answers · asked by Marcello 2 in United States

i have received a muliti media text message on my phone that my GSN number has won 1000000euro in united kindom
and to claim the amount i have to pay a tax fee of 1000euro dollars.so should i pay that sum because m from fiji and i know nothing about united kindom

2007-11-15 08:59:29 · 5 answers · asked by RESH 1 in United States

I would like to give end of year "bonus" to contractors in the form of a gift card. If it is not cash, does it have to be included as part of their income for the year to be taxed ?

2007-11-15 08:55:41 · 7 answers · asked by dude 2 in United States

I need to pay use tax on an item the company purchased origianlly using a resale certificate and no tax was charged because usually every item we purchase from them is resold. In this case, we used the product. When I calculate the amount of tax due, do I use the price I paid for the item ($32.80), or the price I paid for the item plus shipping ($46.47). I'm in TN if that helps. Thanks!

2007-11-15 08:48:19 · 3 answers · asked by Anonymous in United States

2007-11-15 07:38:06 · 7 answers · asked by baby20 1 in United States

My sister & husband live in Nevada for 17 years. They got a letter from California say they owed taxes from when they worked in California over 17 years ago and they filed their taxes while there. Now they live in Nevada and have just found out that California has put a lean on their home in Nevada for $24000. They have not gotten an answer yet as to what can be done. One legal says show us proof you have lived in Nevada 17 years and CA can't do this. Then another one says yes CA can do this. They are in their 70's and want to move to a smaller house or a townhouse, because of aging, but can't sell the house because of the lean. Any answers out there....help please.

2007-11-15 07:33:11 · 3 answers · asked by jmor827@sbcglobal.net 1 in United States

2007-11-15 07:13:51 · 3 answers · asked by nomisto 1 in United States

are there any other anomolies like this???

2007-11-15 07:03:38 · 9 answers · asked by Anonymous in United States

And if u break up u will have to get a divorce. My boyfriend is saying that about his ex and said that it even happened to his cousin. We live in oklahoma and it just doesnt seem logical to me.

2007-11-15 06:54:27 · 7 answers · asked by I love my baby boy!! 4 in United States

I just started waitressing. I'm not sure how the tips work. I was told to claim $4.50 for every hour I work. There have been days in which I had to claim all of my tips, and walked out with little more than five dollars in tips for the whole day. I'm so confused, because I don't know if I'll get the money backat the end of the year, or if I'm going to end up paying a percentage of it! how do the tax laws work in Michigan? what do I do if I don't break even or even make minimum wage! is my boss supposed to compensate me if my tips don't meet minimum wage! help! I'm not making any money! IM DYING HERE!!!

2007-11-15 06:40:53 · 6 answers · asked by AgirlnamedAng 2 in United States

my pay period ends on the last day of every month and the 15 of every month... i dont have direct deposit and it sucks that sometimes the end or the fifteenth end on a weekend and i have to wait to get pait the folloing week.. is it wrong if i ask to get paid on a different date... or maybe get my check that friday?

2007-11-15 06:19:37 · 5 answers · asked by cdlc 2 in United States

2007-11-15 06:18:17 · 1 answers · asked by chrisy123 1 in United States

2007-11-15 05:44:07 · 4 answers · asked by darling205852 1 in United States

The annual maintenance fee on my condo is $500. The market value for renting a similar unit is $1,400 for the week. I purchased the time share for $12,500 several years ago. If I can claim a deduction.........for what amount?

2007-11-15 04:45:04 · 4 answers · asked by Jerry H 1 in United States

After speaking to a realestate Attorney, I was told after foreclosure the amount we have as capital gain, will then written off as a loss due to the market value dropping. The likley hood of them doing a civil case against is low because of them having so many foreclosures. What do you think?

2007-11-15 04:38:25 · 1 answers · asked by Tamara M 2 in United States

I am trying to muddle through the Tax Form 990 for the local VFW. Money is spent locally to buy foods that are then prepared and sold at the VFW (Steak Night, Seafood Night, etc.). Money is then posted to the General Fund. How do I report it, or do I? And what about Hall rentals for private parties? Thanks!!

2007-11-15 04:26:19 · 2 answers · asked by red_heded_rebel 2 in United States

Last year around Christmas time me and my husband were able to get a holiday loan with Jackson Hewitt. Jackson Hewitt is not doing them this year. Does anyone know if H&R Block is?

2007-11-15 04:16:46 · 3 answers · asked by mommy to three 2 in United States

Just wondering if I need to make an estimated payment to avoid underpayment penalty or will I be o.k since I got a $1900 refund last year (06) Please help! I don't understand the rule that says "90 % of current year, or 100% of previous year"

2007-11-15 04:06:05 · 5 answers · asked by Henry W 1 in United States

i was wondering if i can claim head of household on this year tax (2007)? My husband and i just got married in April 2007 and he hasn't been working due to back problems. I've been supporting him for the past 2 years, plus, I pay for everything. For what I know - a lot of people are saying that you can only claim head of household if (1) you single and living on your own or (2) single w/ a child...so can someone help me out! thanks in advance!

2007-11-15 03:53:47 · 10 answers · asked by daisy 2 in United States

I'm trying to figure out if my husband and I made too much to qualify for the EIC, and if we are in a new tax brackett...we have 2 kids.

2007-11-15 03:39:12 · 5 answers · asked by Leigh 2 in United States

how to start nonprofit organization and become tax exempt

2007-11-15 03:24:49 · 1 answers · asked by Patrice T 1 in United States

Did receive 1099-MISC statements from for- and non-profit clients for whom I wrote/designed/took photos. Filed the DBA properly, but never applied for NY Certificate of Authority. Have since filed Federal income taxes (including sole proprietor income and expenses) without incident. Have not yet been contacted by the NYS Department of Taxation and Finance ...

2007-11-15 02:59:12 · 3 answers · asked by Micah Levantale 1 in United States

I have been self employed for some time and do my tax return online. However, I've noticed that some banks and other organisations request your 'books' if you are self employed. Could anyone (in the UK) tell me what such books should look like exactly. Of course, I have a black book listing earnings and outgoings...but should it be more comprehensive than that? Other than keeping receipts and wage slips, and filling in my account online, is there some form of specific hard copy I should be keeping? Many thanks!

2007-11-15 02:36:10 · 8 answers · asked by D 2 in United Kingdom

2007-11-15 01:48:24 · 5 answers · asked by Anonymous in United States

2007-11-15 01:47:05 · 2 answers · asked by la_smith05 1 in United States

Lets say u make 1485 in about 15 days, about how much would they take off of that for taxes? How much would i be left with?

2007-11-15 01:15:29 · 7 answers · asked by Derrick M 1 in United States

i wanna file now for two previous tax years. Can i do a R.A.L?

2007-11-15 01:06:27 · 2 answers · asked by jusaskin 1 in United States

Yes,I am leaving to go to another state sometime towards the end of december,can I still file my taxes and just wait to have the money put into my account.

2007-11-15 01:04:47 · 5 answers · asked by bluecrystals999 1 in United States

need to know the proper procedure to collect fathers home and financial assests as will states

2007-11-15 00:59:34 · 3 answers · asked by kwayzkene 1 in United States