Taxes - November 2007

a sales tax issue that went bad 12yrs ago is coming back to haunt us-it was a business partner that took the money and ran instead of paying the sales tax the state has decided twelve yrs later to come after us with outragously high estimatesate. ive tried refiling with amounts that are closer to reality but no response i need an attorney that can help & go after the expartner for his share because supposedly they cant find him but i know exactly where he is

2007-11-01 16:06:49 · 2 answers · asked by kllychick 1 in United States

Carpenters need a supply of screws and nails and things which you need occasionally but don't use up all at once. This can add up to thousands of dollars of stuff. Are these in the same category as tools? How do I deduct these?

2007-11-01 14:42:15 · 4 answers · asked by Hgldr 5 in United States

My mom took out a PLUS Loan for my college, but I've been paying on it since I graduated. The IRS and our tax preparers told me I could claim the interest paid as long as I was the one making all the payments, I had proof of it, and my mom wasn't claiming it as well.
However, H&R Block NOW says that's not true. The loan was for me, so it's not like I'm a random paying it for a tax break. Please let me know

2007-11-01 14:05:27 · 6 answers · asked by happee 2 in United States

2007-11-01 14:04:00 · 6 answers · asked by mwill467 1 in United States

Are the monthly dividends considered straight income ot be added to your yearly income or are these texed at 15% rate. I am talking about taxable fixed income investments.

2007-11-01 13:47:45 · 2 answers · asked by robert w 2 in United States

2007-11-01 13:36:59 · 4 answers · asked by curious 1 in United States

This year i will have made 39000. I am 25 and for 5 months of the year i had been claiming 1 on my taxes now from july till the end of the year i have been claiming 0. My federal is looking to be around 5100 withheld and my state is looking around 1300 to be held. I also have no write offs :)

2007-11-01 13:27:17 · 4 answers · asked by casey o 1 in United States

it's our first child we are trying not to owe any money in April. Should I claim my wife too? I make more than her.

2007-11-01 13:04:29 · 5 answers · asked by Anonymous in United States

saying that they did not had to file taxes.

2007-11-01 12:52:40 · 7 answers · asked by luvkomal04 1 in United States

I didn't really know how to fill out the worksheet when I hired on at my new job. My friend here makes the same rate as I do, but more taxes are withheld for me. I get about $300 taken out of a $1200 paycheck. I think I chose to have more taxes taken out now, so I will get a larger return - versus having less taken out now, and getting a smaller return. Can anyone share their knowledge on the subject? I'm getting lost in all the "itemized deductions", etc. as I research and I need some help. I would appreciate any good links as well! Thank you!

2007-11-01 10:55:14 · 6 answers · asked by cherribomb777 2 in United States

I just bought my house this year and I recieved an Annual Tax Bill and a Supplemental Tax Bill. My fiance heard from someone that works for a Title Company that we do not have to pay the Supplemental Taxes and we will not get fined or will not recieve any penalties. He told him that when we sell the house they will take it off of the sale of the house. I am a little leary...does anyone have any idea? I emailed the la county tax board and am pending a response.

2007-11-01 10:47:03 · 7 answers · asked by saveit99 1 in United States

I was told it is against the law.

2007-11-01 10:43:03 · 4 answers · asked by mylife_isgood 1 in United States

9.92 WAS TAKING OUT FOR fiCA. 3 DOLLARS FOR MEDICARE. tOTAL DEDUCTION WAS 14 DOLLARS I CLAIMED ONE ON MY FORM wHY WASNT ANY STATE MONEY TAKEN OUT

2007-11-01 10:33:45 · 3 answers · asked by karen d 2 in United States

can somebody please help me

2007-11-01 10:13:01 · 2 answers · asked by jamirah h 1 in Other - Taxes

What is the tax rate for independent contractors in NYC? My average income is around $2,200/month. When do I pay taxes? Will my work give me something like a W2?

2007-11-01 09:46:29 · 5 answers · asked by ryn_fg 2 in United States

For example UofX has a $125 application processing fee. Are these tax deductible? They can add up when applying to 3 or 4 schools.

2007-11-01 08:48:01 · 5 answers · asked by rohinivt 1 in United States

2007-11-01 08:19:21 · 4 answers · asked by binkybudders 1 in Other - Taxes

I am considering putting up my business for sale, but have been informed by my accountant that 40 - 50% of the sale money will have to be paid in tax. The only solution they have come up with so far it to pay the profit it into my pension and hope you live another 25 years to get the benefit, which doesnt appeal. Does anyone know of a way round this?

2007-11-01 07:55:08 · 5 answers · asked by wooperpooper 2 in United Kingdom

Does it just refer to Manhattan? what about the other boroughs?

2007-11-01 07:45:30 · 1 answers · asked by nalgene39 1 in United States

2007-11-01 07:17:30 · 5 answers · asked by krystalemeka 1 in United States

My ex husband has 17 leins against his credit. I did find out ones were through the state I live in on line. Does the Federal (IRS) have a website that can give me the same answers without calling them. ? Thanks

2007-11-01 07:13:59 · 1 answers · asked by Anonymous in United States

2007-11-01 06:47:59 · 3 answers · asked by j. carol k 1 in Other - Taxes

I claim 5 on my W-4 form and I always get a big refund at the end of the year. According to my income level and filing status, I should be taxed at 25%, but I am taxed at 40%. Can I fix this? I would rather get my money each month rather than give it the IRS to use!

2007-11-01 06:39:39 · 6 answers · asked by Eline K 2 in United States

All I asked was the price of petrol (gas) in the US compared with the rip off price we pay in the UK.
Why? Who other than the petrol companies and the UK Gov is that going to offend. Ah, that maybe the answer.

2007-11-01 05:56:18 · 7 answers · asked by Mike C 3 in United Kingdom

I know employees have to fill out W-4 forms for their federal tax, is there another seperate form they need to fill out for state?

2007-11-01 05:53:49 · 4 answers · asked by ahlandel 1 in United States

i got a letter from the IRS b/c they need to verify weather i'm a dependent or not. Iast years tax returns i put that i'm not a dependent b/c i was 18 but i still lived wiht my parents and was in highschool . now i'm 19 still live with my parents and i'm in college so waht am i

2007-11-01 05:50:05 · 9 answers · asked by Anonymous in United States

I have zero excemptions. I have paid more than more than 14k in taxes this year so far. Also, I am not interested in buying a house/condo here. I plan to relocate within a year.

2007-11-01 05:05:11 · 4 answers · asked by jka816 1 in United States

We used to just take a carload of stuff to Goodwill and just estimate the overall value but now I heard you have to itemize every single thing to qualify for tax credit. I've got a bunch of stuff and would like to know this answer before dropping it off at a donation center.

2007-11-01 04:44:32 · 7 answers · asked by Curious B 1 in United States

I have a retal propert nowy nearly 8 months, income is alot greater than mortage, Should I declare it to inland rev, also is there anything I can write off against my profit? What would be the consequences if I did not declare, Advise Please

2007-11-01 04:01:22 · 8 answers · asked by Moonshadow1234 2 in United Kingdom

deduct a part of their income taxes as "car expenses." I say that they use their car exactly the same way I used mine. We both use our cars to take us to our place of employment. It is not my fault that they choose to work "all over the place." They made that decision. I did not force it on them. So, if we both use our cars for the same purpose, to take us to work, why do the tax payers have to subsidize them and not me?

2007-11-01 03:40:29 · 5 answers · asked by Bluebeard 1 in United States