Taxes - November 2007

I know that this same question is out there, but here are my thoughts. First, how does one afford to pay for all the new things in it that work- as stated in the q&a posted below, how does one afford the landscaping and heating a house that is 3 times bigger than before? But also, in CA [as far as I know], if someone receives a "gift" of over 12K, you have to pay taxes on it. I also read in TIME Magazine that when Oprah gave away the 100 Red Ford Taurses to poor women, more than 1/2 of them had to sell them b/c they couldn't afford to pay the taxes?!!? Accountants, tax people, gov't officials- someone please help me understand how one can "afford" the extreme makeover home edition!?!?


http://answers.yahoo.com/question/index;_ylt=AgCG38.fdCqQF8JI_u8jEqdIzKIX;_ylv=3?qid=20060905115159AAWWfof

2007-11-11 15:21:59 · 3 answers · asked by cookiesmonster1030 2 in United States

Can they do this and get away with it. How can I get out of it... I'm on a set income.

2007-11-11 14:12:11 · 6 answers · asked by Anonymous in Other - Taxes

2007-11-11 14:00:53 · 8 answers · asked by Anonymous in United States

I was recieving tax deferred unemployment benefits for five months and have since been doing contract work under a 1099. My question is, if I continue doing the contract work, I will owe a boatload of taxes, but since I am eligible for earned income credit, will all the money I owe come out of my refund? BTW.....I am single with one child.

2007-11-11 13:46:39 · 5 answers · asked by Anonymous in Other - Taxes

my daughter lives with me and is a college sudent age 21yrs old and we estimated the she will have earned 11,000.00 because she works and i estimate that iwill have earned at least 24,00.00 or 25,000.00 can i still claim her as a dependant and get the earned income credit

2007-11-11 13:45:50 · 4 answers · asked by Anonymous in United States

myself=35000.....my wife=25000........we have 4 qualifying children,...i know we dont qualify for EIC......i file exempt.....she files 1

2007-11-11 12:41:40 · 3 answers · asked by niner_72601 1 in United States

2007-11-11 12:28:58 · 7 answers · asked by Ms.Isittrue 1 in United States

Do you know Rev.Fr.Martin? rev_fr_martin_og@myway.com

2007-11-11 12:11:37 · 1 answers · asked by Jovet S 1 in United Kingdom

2007-11-11 12:10:07 · 3 answers · asked by scottmbelba 2 in United States

or is it voluntary since you made under 600 a year.
P.S. Most likely you would be receiveing money back since you made so little but if you didnt care is that legal?

2007-11-11 11:29:21 · 5 answers · asked by guest987654321 2 in United States

2007-11-11 11:25:40 · 3 answers · asked by Anonymous in Canada

2007-11-11 10:35:02 · 9 answers · asked by clarinetmast 2 in United States

I haven't filed taxes in the past 3 years, mostly because I was missing W2's. I don't generally make more than $30,000 a year. I need advise!

2007-11-11 10:24:15 · 21 answers · asked by KyHusslin' 1 in United States

How many different tax forms are there in the US? I know there is a 1040, 1040EZ, 1040a, b and c, w-2. but how many more US tax forms are out there?

2007-11-11 10:06:17 · 7 answers · asked by pisces02 4 in United States

i am about to start work on this job and they say i have to do my own taxes. so what happends if i don do em. how do you do em. is it hard?

2007-11-11 10:02:05 · 7 answers · asked by danyal j 2 in United States

2007-11-11 09:46:24 · 6 answers · asked by Lizzy Lui 1 in United Kingdom

2007-11-11 09:36:26 · 5 answers · asked by escapee 1 in United States

As a Financial Advisor at Ameriprise, you receive commission paid salary, rather than base salary. How much taxes do they take away from you? Or is it even taxed differently? I live in Virginia, in the DC/Metro area.

Any info would help. Thanks!

2007-11-11 09:26:17 · 2 answers · asked by mstchou23 2 in United States

i am 14 w/ a bussing job. i want to know what form to use and when to file it.

2007-11-11 07:54:45 · 4 answers · asked by Anonymous in United States

Hi,
I work for a company that supplies the flowers to a local Wholesale Store. I am a 1099 or Independent Contractor and no taxes are taken out of my paycheck. My question is the company that I work for is asking that I get an EIN number and apply for a DBA certificate and when I researched both of them on the internet I don't understand why I would need either of those as the business is not mine as I work for the company.....so can they do this or should I refuse?

I get a paycheck every 2 weeks....I get the same base pay + a certain percentage if the store sells alot of flowers during those 2 weeks. I do not send them an invoice or anything for my hours.
What do you think?

2007-11-11 07:14:19 · 3 answers · asked by Flowergirl83 1 in United States

I currently manage an account that is not in my name but rather my grandmother's. At the beginning of the year there was ~20k and currently there is ~50k. This account needs to be transferred to my name, and I was curious what the best way to do this on a tax basis is. These gains are all long-term capital gains at this point, and are invested in 1 stock. My current income for the year will not exceed 12k in salaries etc, and my grandmother's will be around 50k. My next near income will be substantially higher so I wanted to get this done in the next few weeks. Thank you in advance

2007-11-11 07:07:48 · 2 answers · asked by asg3000 1 in United States

Lets say I own a sole proprietorship. Do I have to take out social security for my own pay? Or just my employees? How does it work in limited partnerships?

2007-11-11 06:56:39 · 7 answers · asked by TSSA! 3 in United States

Am I able to add these itemized deductions totalling about 4,000$ this year (2007), or will I have to ammend last years tax return?

2007-11-11 06:00:07 · 5 answers · asked by Robyn 2 in United States

Or are they refund credits also like Earned Income Credit?

2007-11-11 05:09:45 · 3 answers · asked by stlsigma2 1 in United States

I guess what I really need to know other than the percent in WA state is...Do you pay capital gains on the full selling price or only on any profit you make or???
I bought a little rental house, which I should not have done, because I do not understand the financial ins and outs. Now I would be happy to sell and just get my original investment back...Any help will be deeply appreciated. Thank you

2007-11-11 05:00:10 · 3 answers · asked by la rae w 1 in United States

2007-11-11 04:53:48 · 11 answers · asked by Mary Ellen 2 in United States

I live in China. I earn 75grand/year.
I do not have a place of residence in the USA anymore
I do not pay any taxes to China, though maybe I should
I am self employed.
If everything I make is exempt from tax, how do I calculate my taxable income for IRA contributions?
Do I have to file if underthe exempt amount, and what forms do I use?
Thanks,
Daloong

2007-11-11 04:43:02 · 2 answers · asked by Daloong 1 in Other - Taxes

I have a 60,000k a year job and my brother is working at a warehouse making 300 a month...why in the world do I get more money taken out of me in taxes than my brother makes as a salary?

2007-11-11 04:31:31 · 5 answers · asked by MNNNN 1 in United States

EU = European Union
please post the resources

2007-11-11 04:29:50 · 2 answers · asked by Anonymous in Other - Taxes

2007-11-11 04:26:44 · 4 answers · asked by memphis_bitch 1 in United States