Taxes - December 2007

2007-12-26 06:50:50 · 3 answers · asked by bigbosssherman 1 in United States

2007-12-26 06:37:30 · 1 answers · asked by julie p 1 in United States

i was self employed part of the yr. and was paid cash....can i claim the income w/o receipts? what about expenses? i don't have all of my receipts. how does this work?

2007-12-26 06:26:00 · 2 answers · asked by Anonymous in United States

i was self-employed part of the year and and have moving expenses to claim....can i get my usual refund anticipation loan?

2007-12-26 06:13:37 · 2 answers · asked by Anonymous in United States

The FairTax is a bill in congress that would eliminate all federal taxes and replace them all with a 23% national sales tax. A rebate is issued to everyone for the calculated amount of taxes spent on the basic necessities of life.

2007-12-26 05:45:49 · 9 answers · asked by Anonymous in United States

In the past year I went from a subcontractor to a full time employee with the company I currently work for. Is there a way to add my subcontractor wages to my full-time wages come tax time?

2007-12-26 05:17:42 · 3 answers · asked by yahookm28 1 in United States

My pay schedule is going to change from weekly to bi-monthly. Im under the impression (and hopefully im wrong), that a higher percentage will be taken out because the check will be bigger, even though im still making the exact same amount yearly. Hope this isnt true because it would mean that my take home pay would be less now. Im looking for clarification from someone who knows about this.

2007-12-26 05:08:13 · 4 answers · asked by darko_d1 1 in United States

I have been married for only 4 months in 2007, (date August 31, 2007). My new husband did not earn over $1,000 for the year, and will not file. what filing status can I use as I want to take the education credit for myself and my daughter.

2007-12-26 04:54:11 · 10 answers · asked by memeA 1 in United States

I filed my taxes early last year, then the next day after I filed, I got another form in the mail for unemployment. So I amended my taxes and had to mail the forms in. I didn't do it, so I am wondering if I can still get the money when I file for this year? Would I need to send that paperwork in? It wouldn't be anything for State, but about $300 back for federal.

2007-12-26 04:50:23 · 5 answers · asked by Kelly B 2 in United States

So I will be itemizing my deductions for the first time this year because I purchased a house. I have two questions though:

1.Starting in January what 2008 receipts should I begin keeping? Really I'm asking what things I am able to deduct (medical expenses not covered by insurance, association fees, repairs to the house, job related expenses). I'm looking for a pretty general list or where I can go to find one.

2. My boyfriend and I both own the house (both names on deed and mortgage), can we both take the deduction or can we split the deduction? Would it be in our best interest not to share the deduction?

2007-12-26 04:30:30 · 3 answers · asked by miss_nikki 5 in United States

My mom is carrying me in january, when its time to do taxs?? should they be taking all that tax out my check ?

2007-12-26 04:18:52 · 9 answers · asked by ButtErFLy4'7 3 in United States

question for the CPA's who are in the tax practice.

I've got $35K in an former employers 401K (left that employer two years ago). Correct me if I'm wrong, but won't I pay taxes on the whole amount of distributions received when I retire (original contributions AND on the earnings)? (I've still got 24 years until retirement).

As opposed to a ROTH IRA, where I pay no taxes on distributions recieved at retirement (earnings are totally tax-free)?

What are the tax implications if I roll this 401K over into a ROTH IRA in 2008?

Thanks for any info you can provide!

2007-12-26 04:13:22 · 4 answers · asked by Anonymous in United States

On my paystubs for my job next to federal tax withheld it says 0.00. Aren't they supposed to take that out? Would that hurt me when it comes to my Income tax?

2007-12-26 03:02:27 · 5 answers · asked by prettylady 2 in United States

I am currently at a job where my boss required me to fill out a w9 form. I have heard a few bad things about it. I'm a single mother of two kids. I'm used to getting about 5k at the beginning of the year when i file taxes. I have heard that by signing a w9 it will affect this and instead of receiving i will owe! I'm so mad. My boss told me it's better that way. I think it's bullsh**. He told me that at the beginning and then told me he really didnt know how it worked and then i heard him telling another new employee you actually benefit from doing that. Im just worried i won't get any money back this Jan or Feb. I guess i know what the form is but will it really affect me? Should i seek for a new job? =\

2007-12-26 02:58:26 · 3 answers · asked by Cali0718♓ 2 in United States

How would the ss payments be affected? Is there anything I can do to maximize my benefits? Can I contact social security adminstrtion and tell them I will not work until 62? Would it help? How many years in the past do they look back to calculate retirement benefits? I am not talking about early retirement at age of 62. I am in USA.

2007-12-26 02:38:40 · 8 answers · asked by qq5121971 2 in United States

My mother is elderly and thinking about transferring the title of her house to me.

She bought it decades ago for $25,000.

I do not live with her.

If I later sell the house, will I have to pay capital gains taxes on the "profit" of $100,000?

If so, do you have any advice on how to minimize taxes in this situation?

What would happen if she simply added me as co-owner as "joint tenancy with rights of survivorship?" Am I correct to assume that I would again in this situation owe taxes on the $100,000 if the house is sold after she passes away?

2007-12-26 02:06:54 · 20 answers · asked by Anonymous in United States

when doing your taxes , do you put your gross wages or your gross taxable wages on the line that says wages, salaries,tips ect.

2007-12-26 02:06:19 · 3 answers · asked by Anonymous in United States

2007-12-26 01:52:16 · 8 answers · asked by michele j 1 in Other - Taxes

I could have charitable contributions for this year in excess of $2,000 .
How much of these deductions can I CARRYFOWARD into the future and, if so, for how many years?
(My charitable contributions are donations of books to public libraries)

Thanks for help.

2007-12-26 01:14:57 · 3 answers · asked by walkathisway 2 in Other - Taxes

We were togather for 4 months in 2007. She has moved out and has her own place .Our four kids live with her. We havent filed any seperation papers and still get along well. Would we have a better return by filing seperate or should we file joint.

2007-12-26 01:00:22 · 11 answers · asked by Bill G 1 in United States

I have charitable contributions for this year in excess of $2,000 .
How much of these deductions can I CARRYFOWARD into the future and, if so, for how many years?
(My charitable contributions are donations of books to public libraries)

Thanks for help.

I was on hold for 6 hrs with IRS with no end result answer.

2007-12-26 00:51:34 · 4 answers · asked by walkathisway 2 in United States

Getting killed on one stock this year, what are the rules to sell before the end of the year for tax purposes? Can I sell on the 31st? I dont know if thats too late since the settlement date of the trade might not be till 2008. Also is there a time frame of when I can buy the stock back with penatly etc?

2007-12-26 00:27:28 · 4 answers · asked by Tim6298 2 in United States

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2007-12-25 23:10:16 · 5 answers · asked by partho_das08 1 in United Kingdom

2007-12-25 23:01:37 · 1 answers · asked by muthu m 1 in United States

2007-12-25 22:50:30 · 1 answers · asked by wombat 2 in United States

2007-12-25 19:26:47 · 16 answers · asked by Anonymous in United States

I need to file my husbands taxes (he's in the army and in Iraq right now) but I need to include the injured spouse form (because of money I am paying on and old mortgage ONLY in my name not his) so he is not responsible for the debt. I know that I can mail that form into the IRS but I was wondering, am I still able to e-file normally and then send that to them? Or do I have to do an old fashion paper filing and mail it in? Also do tax prep places like H&R Block haves those forms available? And also if I am able to e-file on the IRS website, am I still able to get my refund direct deposited within 10 days or does it take like 8-10weeks to file from the day that they receive the for 8379? I know it seems like a lot of questions but my husband is coming home for R&R January 22nd, which ironically is the same day that the w-2 forms are available online and he will only be here for 18days so I want to know if we will have any money to do anything while he is here on leave.

2007-12-25 18:58:38 · 4 answers · asked by candicekellie 2 in United States

I need to know about Tax Preparation outsourced. How to find the best one .

2007-12-25 18:32:36 · 3 answers · asked by Anonymous in United States

do you have to wait until jan 01 or can you file after you recieve your last paystub?

2007-12-25 17:43:28 · 6 answers · asked by jkeeva 1 in United States

I'm thinking of adding Ad Sense to my website (when its up and running). My question is, how much do i have to earn before i have to report my earnings to the IRS? My father in law tells me it's over $5,000, then my dad tells me its over $7,000. I'm confused. Can someone help?
Thanks...

2007-12-25 17:37:59 · 6 answers · asked by eternalbeginnings 2 in United States