Taxes - December 2007

I want to make a donation to the Good Will, and I am wondering how that gets deducted off my taxes. Like how do they calculate it? For example if I donate $100 worth of stuff. Does that mean I get $100 more back on my return? And who determines the value of what I donate. I think Good Will just estimates $15 a box, but I dont know. Please explain this to me in laymans terms. I want to donate as much stuff as I can so I can get a bigger return. I have my whole garage I want to give, and that is a bunch of stuff so you can see why I am concerned. The Govt takes like thousands out of my hubbies pay checks, and well they dont give much back either so I need help. Plus I would love to help a non profit organization :)

2007-12-13 13:01:43 · 6 answers · asked by WholeSaleRunway.com 2 in United States

I am considering hiring a nanny when my second child is born next spring. What do I need to do to make sure it is legal and her income is being reported?

2007-12-13 12:59:38 · 5 answers · asked by Anonymous in United States

2007-12-13 12:40:55 · 3 answers · asked by honeygirl17403 1 in United States

2007-12-13 11:41:14 · 5 answers · asked by miko 1 in United States

Hey, my uncle just bought this weird jacket for me at modells, it cost 40 dollars and i dont like it one bit. is it possible to get a refund at modells?

2007-12-13 11:33:00 · 1 answers · asked by Geniumsoloa 2 in United States

If you trade stocks / futures in a LLC, how is the taxable LT / ST
capital gains offset by business expenses in the LLC? Do business expenses offset the long-term gains or the short-term gains equally? Or can you choose to have business expenses offset the short-term gains first?

For example, let's assume the following:

100K long-term gains
75K short-term gains
50K business expenses

Can the entire 50K of business expenses offset the 75K short-term gains or do the business expenses have to reduce LT / ST gains equally?

2007-12-13 11:08:59 · 2 answers · asked by JellyRoll 1 in United States

2007-12-13 11:06:09 · 3 answers · asked by lunatic3807 2 in United States

how would income distribution and resource use change if a flat-rate tax on comprehensive income were substituted for the current progressive income tax?

2007-12-13 11:05:26 · 2 answers · asked by joker 1 in United States

http://news.yahoo.com/s/ap/democrats_debate

How much tax could we raise if we taxed at 90% everyone that makes more than 300K a year?
Would it get us out of debt and solve all our problems?

This article also says dems want to tax corporations.. but if you havent figured it out.. all taxes are passed on to the consumers. This is not some capitalist thing.. its just the way it has to be.. a corporatoin has to pay its people to run. so expenses like taxes HAVE to be passed through to you.. the reader.... so ignore the tax wealthy corporations clause and add the phrase.. tax YOU.

2007-12-13 10:56:57 · 7 answers · asked by kent j 3 in United States

I am a teacher in NJ, about to retire. Many years ago, I taught in NY, and then spent years in business. I have just made payments to NJ to "buy back" these NY years. Can I deduct these payments from my Fed and NJ tax?

2007-12-13 10:49:41 · 2 answers · asked by mrgathome 1 in United States

2007-12-13 10:28:38 · 2 answers · asked by chrissykaduka 2 in United States

an investment appreciated $50,000 more than the original price. i took depreciation and rental for the last 3 years and now, would like to "give" or sale it to my son. how do i do it legally and what is the consequences on taxes?

2007-12-13 10:10:17 · 7 answers · asked by compaccess1 2 in United States

2007-12-13 09:49:00 · 5 answers · asked by Dylan L 1 in United States

THEY ARE ALL MARRIED

2007-12-13 09:45:43 · 5 answers · asked by Anonymous in United States

I am a NJ resident, going to school in NYC (and living here during the school year) and also working here in NYC. I'm making $12/hour and my tax has been around 23% out of some paychecks!

What's going on??? Am I getting taxed extra because I told my employer my address as my NJ address? Which state tax form should I be filling out? Should I be getting most of this money back?

Just for reference, here are some of my year to date tax numbers. Total earnings has been $6790

SO SEC TAX 421.01
MEDICARE TAX 98.46
FED INC TAX 694.02
PRI-STATE TAX 162.89
SDI/UC TAX 13.20

TOTAL TAXES 1,389.58
around 20% of my total earnings...

Thanks guys!

2007-12-13 09:45:01 · 2 answers · asked by mooingmooseman 2 in United States

im single. and have 1 allowance. if i file exempt for federal, doesnt that mean they wont take out any taxes, or will they take out alot. I JUST want my whole check without anything taken out.

2007-12-13 09:39:40 · 6 answers · asked by tech B 1 in United States

Should a sole proprietor file taxes under his name or under the name of his business?

Also, some of my BUSINESS expenses are under my name and others under my business name, can I include both in my tax return?

2007-12-13 09:24:12 · 6 answers · asked by Anonymous in United States

2007-12-13 09:02:31 · 6 answers · asked by afterburner 1 in United States

my ex has owed me over 12k for years now and has been on the IRS intercept list I have yet to get anything and it has been over 6years now...can anyone suggest someone i can call to get this taken care of and find out why he is getting his income tax back and i am not getting any of it???? ALSO, i have been told he plans to claim one of the kids this year eventhough the court order says ONCE CURRENT and paying weekly...he can do that...I need help in OHIO :)

2007-12-13 07:52:41 · 6 answers · asked by cnick 2 in United States

After my divorce from my daughters mother she, the mother, was appointed the guardian. Big surprise! That was when my daughter was 7. When she started college the court in Alabama had reserved the right to review the case again and did so. They changed the child support to "Post Minority College Educational Expenses". My daughter files her own income tax and her mother is on disability so she receives a Pell Grant. My tax advisor says I can't claim my payments for college expenses because I don't claim her on my tax return but that she, my daughter, could use my expenses on her return as a deduction. Is this all correct? Is there no way I can get a deduction for these educational expenses without loosing the Pell Grant.

2007-12-13 07:51:59 · 4 answers · asked by Les R 1 in United States

I have so much taken out of my check each week, but I'm so afraid of owing at the end of the year. I wouldn't mind breaking even. Any suggestions?

2007-12-13 07:37:47 · 6 answers · asked by Heather J 1 in United States

I did not file my 2006 taxes due to a discrepancy on my wages earned with Social Security. I am trying to close on a house and they had me file them. I sent the return overnight and the IRS has received them, but it still shows that I have not filed.

2007-12-13 07:32:21 · 1 answers · asked by ss_brakey 4 in United States

I have been there since december 26 of last year at my job I make $10.50 an hour so how much should I expect?

2007-12-13 07:27:49 · 5 answers · asked by ohioguy4jc 4 in United States

When I was working for a company that paid 80% of health insurance and I paid 20%, the 20% that I paid from pre-tax. Now, that I pay 100% of my health insurance privately, I don't get a tax deduction? Or do I and where on the 1040. I'm not self-employed, I work under a W-4 form. Thank you.

2007-12-13 07:24:36 · 3 answers · asked by Sean 1 in United States

how much will the government take outta my check weekly..i live in new york city and plan to start a new job paying 10 a hr...i have no dependents

2007-12-13 07:20:30 · 1 answers · asked by mrmonday 2 in United States

reaso why I ask is because we all going to lose our jobs next month, she has been told that she will get full maternity (as a favour ) even though she has only been with the company for 10 months.

What other benefits could she get

we are in the uk

2007-12-13 07:00:53 · 3 answers · asked by Rebz 5 in United Kingdom

2007-12-13 06:37:00 · 3 answers · asked by alen m 1 in United States

We give out bonus checks around Christmas every year, but someone just told me that we are supposed to report it to our payroll service and the amount is supposed to be taxed. Does anyone know if this is true?

2007-12-13 06:33:18 · 5 answers · asked by PaganBeauty 1 in United States

my mom always did my taxes on her computer but now we arnt really on speaking terms. i worked for the solon inside of walmart until about a month ago, now i am working for a nother solon that is just me and the lady that owns it. she pays me in full and doesnt hold any taxes out. when it comes time for taxes what do i have to do. i am clueless when it comes to this. please help

2007-12-13 06:19:33 · 4 answers · asked by Katie H 1 in United States

2007-12-13 06:05:07 · 3 answers · asked by taylorbecca96 1 in United States