Taxes - December 2007

We did H+R Block last year and I don't think we maximized our return potential. Does anyone have any suggestions on which route to take.

2007-12-26 22:10:20 · 2 answers · asked by dtownpower 2 in United States

I have 3 accounts with a foreign bank and they never give your interest figures, since it is not required in that country, should I just forget about it and only report U.S. Accounts that give you 1099s?

2007-12-26 21:22:31 · 5 answers · asked by yawlcome2000 3 in United States

I want to claim my boyfriend on my tax return.We lived together for 2 1/2 years now.For the whole year of 2007 I been paying all the bills and supporting him to due to his unemployment status.What would I need as prove to claim him.I never claimed a dependent before so I am clueless.Please help.Thanks

2007-12-26 20:32:11 · 4 answers · asked by Anonymous in Other - Taxes

In 05 he was a minor, we claimed him as a dependent. He worked part time and made $6250 and paid $385 in in tax. This year we claimed his as our dependent. Will he get a refund? Does he file his own return?

In 06 he was 18, but still lived at home off mom and dad. This means we still claim him as a dependent then? In 06 he made about $9000 in wages and paid out about $550 in tax. Will he get a refund?

Now for 07 coming up, he is 19, same scenario. At age 19 do we still claim him as a dependent? Yes, he still lives off mom and dad?

Thanks

2007-12-26 19:42:41 · 5 answers · asked by Anonymous in United States

How many properties can my wife and I deduct when filing a joint return if she has a primary residence and a vacation home, and I myself also have a primary and vacation home as well?

2007-12-26 19:09:41 · 3 answers · asked by 194p$k 2 in United States

2007-12-26 18:24:41 · 6 answers · asked by skyblu601 1 in United States

Is the culture positive or negative? How did you learn the culture? Thanks in advance!

2007-12-26 17:32:23 · 1 answers · asked by angel_rat_83 1 in United States

2007-12-26 17:31:16 · 5 answers · asked by faron_jns 1 in United States

How does the capital gains tax for stock trading work? I heard that you can deduct $3000 of your stock losses against your income when calculating your annual income tax. What I am not clear is the following:

1. If I started trading in stocks beginning July 07 and had a net gain of $1700 for the year, would it be better for me to keep this as a gain and get it taxed or should I realize some losses to clear out this gain (I have some stocks on my portfolio which are down, but I have not realized it as it is not sold).?

2. If my net losses are only $1 for the year from stock trading, would I be able to deduct $3000 against my total income or would I be able to deduct only the loss of $1?

2007-12-26 16:40:49 · 3 answers · asked by ineedtobuyagolfrangeandretire 1 in United States

2007-12-26 16:27:09 · 8 answers · asked by StevefromVancouver 1 in Other - Taxes

With this AMT patch thing the IRS is working on, would it be wise to go out and get our taxes done early?

2007-12-26 16:27:07 · 4 answers · asked by Lovebug123 5 in United States

2007-12-26 16:24:57 · 2 answers · asked by CM 5 in United States

I got my job in June and on my papers I know I signed to pay more taxes than necessary. I was also told that students get about 90% back. At what point or how much will I get back (percent wise) my tax refund; if at all.
Thanks!

2007-12-26 16:23:39 · 3 answers · asked by Æ 3 in United States

my husband is deployed in iraq...i have power of attorney, so am i liable to file our taxes? or do i wait until he comes home in may--would we still have 180 days after leaving a combat zone to file?

2007-12-26 15:41:33 · 3 answers · asked by xtcwmeg 3 in United States

are there any programs out there to repay my defaulted loan and keep my tax return they have already started garnishing my wages

2007-12-26 15:37:34 · 3 answers · asked by Jenn 1 in United States

I pay my nanny every two weeks. Her next pay period will be the last week of December and the first week of January. Am I supposed to split that pay period in half and include the December half in this year's taxes? Or, even though she worked the hours in 2007, does the fact that she does not get paid for those hours until 2008 mean that the whole pay period belongs with that year's taxes?

2007-12-26 15:29:47 · 11 answers · asked by Anonymous in United States

i have a school loan for about 3500 dollars and they started garnishing my wages in july of this year (2007) is there any way to keep my income tax from being seized?

2007-12-26 15:20:48 · 6 answers · asked by Jenn 1 in United States

I'm a full-time student and made $22,000 this year.I have no dependents and i am worried i will have to pay an absurd amount.Any tips.

2007-12-26 15:15:09 · 13 answers · asked by fyr5000 1 in United States

is it worth it to me to do a long form to get the deduction for this car?

2007-12-26 13:41:45 · 4 answers · asked by Dianne S 1 in United States

Because I was told that you had to have had filed it with them before, but then some people say that you dont so im just trying to find out which is true?????

2007-12-26 13:38:15 · 4 answers · asked by gwn21 1 in United States

Does any one know Richard D. Fairbanks (CEO of Capital One) email addres. I have to email him. Thanks. I just have to get information to him

2007-12-26 13:27:14 · 3 answers · asked by lover454 1 in United States

i am a single mom and need all the help i can get this year
thanx in advance, any help is appreciated.........

2007-12-26 13:11:01 · 7 answers · asked by tatw2004 1 in United States

China individual income tax (IIT) on wages and salaries are charged at 9 progressive rates ranging from 5% to 45%. The schedule contained in the captioned website is valid.
The IIT on income of RMB 70K is not 35% 'flat', but 35% on RMB 66K after 6375 deduction.
The calculation on income of RMB 35,000:
35,000 – 4000 = 31,000 X 25% less 1375 deduction, i.e. 6375; therefore your net income would be 35,000 – 6375 = 28625.
If you take a look again at the schedule of the mainland IIT on the amounts of 'quick calculation deduction' in your mentioned website are calculated (for your quick reference) of the amounts of IIT in the lower brackets of incomes.


Rental reimbursement is considered part of the employee's income and the income in total is subject to individual income tax in the mainland. The tax is charged at the progressive rates of 5% to 45%, briefly as follows:
Monthly Salary Tax Rate Quick Calculation Deduction
RMB5,000 - 20,000 20% RMB375
20,001 - 40,000 25% RMB1,375
40,001 - 60,000 30% RMB3,375
60,001-80,000 35% RMB6,375
80,001-100,000 40% RMB10,375
RMB100,000 + 45% RMB15,375

2007-12-26 12:59:27 · 1 answers · asked by edlimhk 1 in Other - Taxes

2007-12-26 12:52:47 · 4 answers · asked by needliberty 2 in United States

What is the EITC for federal in the state of Illinois for 2007 per child?

2007-12-26 12:28:01 · 1 answers · asked by minson8605 2 in United States

what kind of job can i get that people dont take taxes out ?

2007-12-26 12:21:33 · 6 answers · asked by Anonymous in United States

I wanted to know if NJ can keep my refund check because I am going to be claiming from PA as well. I worked for a couple months in NJ and then since then I've been working in PA this is why I will be claiming from both states. Someone please help with this question.

2007-12-26 12:14:19 · 4 answers · asked by mlakamama 1 in United States

Also, how much would the average spender have to make to benefit from having their sales tax deducted rather than their income tax?

2007-12-26 12:07:13 · 5 answers · asked by KittyKat 1 in United States

I’ve had friends do this, but I’m not sure the specifics... I’m starting a new position at the job I’m at that deals more with multimedia. However, the company doesn’t have all the equipment I need, so I’ll have to buy some. (I took this position knowing that, not like I got screwed over or anything). So I’m wondering if I can claim some items I buy on my tax return. I’m probably going to buy a high quality camera for videos and pictures ($400) and a laptop that can handle photo and video editing ($1200).
Can I claim these on my tax return? If so, how? And what kind of compensation would I receive from them?
If I can’t claim this, why not?
Is there anything special you have to do?
And would this be for state (Illinois) or federal taxes?

Thanks

2007-12-26 11:44:26 · 4 answers · asked by Jordy 1 in United States

2007-12-26 11:44:17 · 2 answers · asked by Anonymous in United States