Taxes - November 2007

2007-11-08 10:24:51 · 2 answers · asked by catheyblessed@sbcglobal.net 1 in United States

because i recieved a phone call from 1 (104) and thats all it showed on my caller id.so i answer it and its a guy who goes by the name jordan williams and he says hes from the Department of Social Security and tells me that i am going to recieve 1000 dollars a month for 3 months directly to my bank account because ive paid my taxes on time and i wont owe the government anything because the money im getting is out of my hardearned money that went to taxes.and this guy already knew my name and everything and my address.

2007-11-08 10:11:48 · 9 answers · asked by locdogg024 2 in United States

I swear, working for a retail company, people continue to think they never pay taxes online in GA like at Dell, BestBuy, WalMart, Amazon. I know Delaware has no sales tax, but what are these people thinking down here in GA? Sales tax all depends on your zip code or whatever local govt laws in that state.....frustrating isn't it?

2007-11-08 09:50:15 · 1 answers · asked by Fear420 1 in United States

$60,000 a year gets taxed over 30%, doesn't seem fair to me

2007-11-08 09:45:05 · 3 answers · asked by mintman123 4 in Other - Taxes

I just got a new job (yay for me!) and am filling out my W-4 for the first time since graduating college and not being a dependent. For exemptions, I've always claimed 0 on line "H" but would like to get more money back each paycheck because I'm on a tight budget.
I'm pretty sure I can put 3 exemptions:
1 for line "A" that no one else can claim me as dependent;
1 for line "B" single with one job, and
possibly 1 for head of household.

I am not sure about the head of household though. I live by myself and most of my income goes towards rent and utilities but I am not a homeowner.

So really I have two questions.
(1) Can I claim being head of household?
(2) Which will get the least taken out of my paycheck, 0 exemptions or 2-3 exemptions? Or just 1 exemption?

I do know I'll get hit harder in April, but by then, I will have more money to pay it whereas now I need more each paycheck.

Thanks so much!

2007-11-08 09:37:04 · 7 answers · asked by iheartbayley 3 in United States

2007-11-08 09:25:18 · 8 answers · asked by ♣Hey jude♣ 5 in United States

2007-11-08 09:23:10 · 1 answers · asked by ♣Hey jude♣ 5 in United States

I live in Pennsylvania.

2007-11-08 09:19:17 · 9 answers · asked by Anonymous in United States

If I short sell my home for $50,000 less than what is owed, the bank will then submit a 1099. What does this mean exactly? Will I be paying for an extra $50,000 income or is this essentially a bill from Uncle Sam for $50,000?

2007-11-08 08:42:55 · 5 answers · asked by Anonymous in United States

2007-11-08 07:58:41 · 5 answers · asked by Tim H 1 in United States

if you make 34,000 p/year....and get paid twice a month (not bi-weekly- just twice a month) how much will they take out of your check in taxes? just an estimate......it averages out to 16.32 but i think its salary....anyone have an idea?? THANNNNKS;0)

2007-11-08 07:28:05 · 6 answers · asked by thatgirluknow 3 in United States

Does anyone know if I can deduct college tuition in the state of California? Not for Federal taxes, but for acutal state taxes?

2007-11-08 07:22:25 · 2 answers · asked by Anonymous in United States

Hello. Does anyone know if College Tuition is tax-deductible in the Stae of California for state taxes, not Federal ones. Any help would be great. Thanks!

2007-11-08 07:07:02 · 1 answers · asked by Anonymous in United States

2007-11-08 06:50:58 · 17 answers · asked by h_villao 1 in United States

I won $10,000 in a contest (hooray!) and now I'm worried about the taxes. Some people are saying that when they sent the check they'll take it out there, and then it gets taken out at the end of the year again!

What is the procedure for this and how much should I save of the $10000 so that I don't get hit at the end of the year?

2007-11-08 06:49:53 · 2 answers · asked by Holly B 2 in United States

When someone dies, leaving an estate to their beneficiary, it could include stocks, bonds, investment accounts, retirements, real property, etc.

I believe everything under $2 million passes to the heirs without any tax obligation. (Is this correct?)

My question is about the tax-deferred retirement accounts (non-ROTH) that collect ordinary income tax when you draw the funds. Would this tax be required from the heirs?

Thanks.

2007-11-08 06:43:43 · 5 answers · asked by Nadeem M 2 in United States

2007-11-08 05:59:58 · 3 answers · asked by ra16297845 3 in United States

Okay so my fiance was a contracter for this company and was paid with a 1040 not a w-2. So we knew he was going to pwe taxes. Now we are having a real struggle with our bills. This year will be the 3rd year so he HAS TO PAY THIS YEAR, we are expecting him to owe around 3,ooo dollars. What is the best thing for him to do when he files this year. Not to mention that we are going to have to pay the guy to do his taxes. What to do. He has never filed before so this would be his first year. What can we claim or do.

2007-11-08 05:52:19 · 9 answers · asked by MS.veronica 3 in Other - Taxes

You file texes seperate but you are married to one another and live in a cando you own and both work. Will you both get 2,500 for each kid? So a total of $10,000. Can you do that? Or do you only get $2,500 per kid only two kids max? Someone told me you only can claim two kid max on taxes even if you have 4 kids, is that true?

2007-11-08 05:51:36 · 4 answers · asked by Anonymous in United States

I have short term cap gains and long term cap losses that roughly equal each other. I know that same-term realized sell activity can offset, but what about short vs. long?

Thanks for your help in advance.

2007-11-08 05:45:48 · 1 answers · asked by Robert 3 in United States

As a PTA, do you have to have 501c3 status in order to allow doners to use your EIN number to write off their donations at tax time?

2007-11-08 05:14:39 · 2 answers · asked by GirlUdontKnow 5 in United States

2007-11-08 05:09:53 · 1 answers · asked by fturfler4 1 in United States

2007-11-08 04:59:29 · 1 answers · asked by Anonymous in United States

2007-11-08 04:55:13 · 11 answers · asked by Anonymous in United States

2007-11-08 04:54:46 · 3 answers · asked by Anonymous in United States

I need someone who knows what they're talking about to tell me all about taxes. liability?deductions?allowance?witholding? I was on irs.gov using the tax calculator and my expected refund was $0. why? I'm 18 and was 17 during my 2007 employment, I am planning on filing independently!11 PLEASE HELP

2007-11-08 04:44:02 · 5 answers · asked by Anonymous in United States

Hello I owe a bank 4700.00 dollars loan and they talking about garnishing my wages do I go to court first or they a just put in the request to my employer for wages to be garnished.
I recieved a Ral loan at taxes and the Irs did not pay now I owe the bank could you provide this info thanks

2007-11-08 04:41:17 · 2 answers · asked by karme 1 in United States

I am a non-resident, who have worked as a seasonal worker in the USA for 4 months in 2006. By this moment I have not filed for my tax return. I have to get 100% on the tax paid as a refund, because my income is below the taxable income line. Some people tell me that I have missed the deadline and I'll be charged penalties. However, this is what I found in IRS publication 519, p.40:
"If you file for 2006 calendar year, your return is due April 17 2007"
Moreover: "When to file for deductions and credits. To get the benefit of any allowable deductions or credits, you must timely file a true or accurate return. For this purpose, a return is timely if it is filed within 16 months of the due date just discussed".
The due date is Apr. 17th, which means that if I file before Aug 17th 2008 for 2006, my return filing would still be timely.
Is my reasoning correct? The due date is Apr. 17th, so it is 16 months after that date, right?

2007-11-08 04:28:02 · 5 answers · asked by Ivan S 1 in United States

I started working for an engineering corporation and we got the news that we are being audited. I just talked to the financial manager (aka owner's wife) and she just told me that they get audited every year and that it is normal for corporations. Is this normal? It seems really shady.

2007-11-08 04:16:32 · 3 answers · asked by dangergirl7121 2 in United States

If my mother adds me by Quit Claim, can i use that to report the taxes for teh interest paid?? She is teh only one on the loan, but ive been told by numerous sources that all i need to do to report teh taxes is to be added to title?? is this true??

2007-11-08 03:55:43 · 5 answers · asked by jd101g 2 in United States