Taxes - December 2007

Will EDD find out that he is working there again, that they hired him back? Or can we keep getting benefits at least for another month? (He was out of work for a while and we are behind on EVERYTHING and would like to try and catch up!)
Thanks!

Any addl. info. you have on this is appreciated.....

2007-12-13 05:59:16 · 8 answers · asked by Anonymous in United States

I attend a local community college but all of my classes are online. I was just wondering if I can claim my high-speed internet service as an educational expense.

2007-12-13 05:46:45 · 9 answers · asked by ncscgirl 2 in United States

Last weekend, at our company Christmas party, we were all given gift certificates from our employer as Christmas "gifts." A few days later, we were all handed a form to sign. The form first asks you to acknowledge that you received the certificates, and then asks you to "approve" that the amount will be added to the your next paycheck for "W2 purposes."

I have never received a Christmas bonus or gift from any company I've worked for, then had it added to my paycheck. I'm not sure I want to have to pay state/fed taxes on this supposed "gift." Is this becoming a common practice now? What's behind this?

Part of me wants to hand the certificates back and say "no thanks." It's not that much money.

All advice/info welcomed.

2007-12-13 05:25:44 · 5 answers · asked by milomax 6 in United States

I switched jobs this yr and made only a small amount this yr compared to other yrs. It will be around 20 thousand. I have two kids and I am married filing jointly. I have been claiming 9 since June of this yr so not much has come out in taxes. I have always gotten back a refund in the past making almost 3 times as much as this yr. I will obviously be elligible for the EIC this yr but since I have not paid in much for taxes will I get back anything. I also have mortgage interest that I can deduct, do I get to do that along with the EIC or can I only do one or the other? I am kinda worried I might have to pay in even though that seems unlikely since I made so little and have 2 kids. Does anyone know what I might expect when tax time rolls around?

2007-12-13 04:45:47 · 5 answers · asked by pat m 1 in United States

2007-12-13 04:44:54 · 7 answers · asked by Anonymous in United States

please! help!

2007-12-13 04:37:17 · 2 answers · asked by Golden Butterfly Goddess 2 in United States

Article 1 section 9 of the US Constitution was modified by Article 16, passed on July 2nd 1909 and ratified February 3rd 1913, this allows Congress to lay Taxes on income(income Tax). My question is: Is it illegal in any way not to complete IRS Form W4 and the subsequent IRS Form 1040? If these forms are legally required what are the article numbers or code numbers to accompany such laws? What would happen to withholdings from pay periods if form W4 were not completed?
Thank you in advance.

2007-12-13 04:25:08 · 5 answers · asked by ireland 2 in United States

2007-12-13 04:22:43 · 5 answers · asked by crybaby5562 1 in Other - Taxes

When I bought my home I took advantage of a first time homebuyer's program. Part of the deal was a silent (no payments to be made until end of loan) 2nd mortgage for $25,000 at 5%. Another silent 3rd mortgage of $10,500 at 3% was part of the deal.

So here's my question. I've been paying the accumulated interest every year on the 5% silent mortgage, because I get an immediate tax deduction, and it's essentially the same as investing that money at 5% with no tax due later.

But what about the 3% loan? Is it financially a wise decision to pay the interest down on that one too? Yes, I get an immediate tax deduction, but from then on it's like investing at 3%, which I can do much better then even in an online savings account

2007-12-13 04:19:13 · 5 answers · asked by Uncle Pennybags 7 in United States

Ok, so I'm preparing my documents for the upcoming tax season and I noticed that on last year's return, although the preparer entered the amount that I paid in mortgage interest, I didn't get a credit for it. Does anyone know why? I remember last year, she explained something about having "too many credits". Is it possible to do an amendment and get the credit this go round?

2007-12-13 04:15:07 · 7 answers · asked by Anonymous in United States

2007-12-13 04:08:58 · 6 answers · asked by Ryan M 1 in United States

Who would you consult if you were having Irs problems?
Still in examination process but uncomfortable....
Have an accountant but ot sure if he is able to handle this.
cpa, tax attorney, a tax service like Effectur? Is it a mistake to use someone out of your state?

2007-12-13 04:05:33 · 3 answers · asked by dragonness36 2 in United States

I'll be making $100K this year through my business and want to minimize taxes. Is it legal to turn my sole proprietorship into an unincorporated partnership with my brother, so we both make $50K? Can my brother then give me his $50K (less taxes he paid on it of course)?

2007-12-13 03:57:11 · 3 answers · asked by Anonymous in Other - Taxes

My husband loses his tax return because of a small college loan that is defaulted. If I file married filing seperate, will it keep them from taking my return?

2007-12-13 03:54:31 · 6 answers · asked by divina_jodi 1 in United States

My father recently passed away. He left my sister and I the house and farm land that our 93 year old grandmother lives in. The house and farm land was appraised at $73,500. There is a mortgage against the property still for $20,500. We are not in a financial position to keep the land and house or to buy the other one out.
According to my father's will we have to offer to sell it to one of his brothers or sisters no more than the appraisal value. In the event that they do not want the property then we cannot sell it until my grandmother passes away.
My aunt and uncle made an offer of $60,000. If my sister and I take the offer will we have to pay taxes on the money we receive ($39,500 after we pay the mortgage off)? I have never been through something like this and I need some advice.

2007-12-13 03:50:20 · 4 answers · asked by Megan H 1 in United States

I will be paid directly into my bank account from overseas. What would my best option be with regard to tax. Should I get my own tax id and have my own company. I am clueless on this and so is my accountant as far as I can see. Any advice would be greatly appreciated..Thanks

2007-12-13 02:56:00 · 4 answers · asked by debhosc 1 in United States

I am a girl of 24 years I am financing my education and I want to know can i use that expenses for tax redemtion.
If yes, then how . If no, in what scheme i should invest and how much

2007-12-13 02:53:53 · 9 answers · asked by sudha20121982 2 in India

In which of these situations (all of which I have been in over the last 2 months) is mileage tax-deductible?

1. Daily commute to the church where I work 25 hours per week but am considered an independent contractor (I use their equipment but pay my own social security).

2. I also am a sole proprietor of a website design and hosting company which I started 18 months ago. When I meet with a client at a coffee shop, for example, is travel to and from the coffee shop deductible?

3. For extra income, I also do websites (paid per site) for a medical management company. Once per week I go to their office to drop off completed site folders, a CD with all sites on it, and pick up new site instructions. I am an independent contractor but also considered "staff." However, all work is at my location (not theirs) using my equipment and on my schedule. Can I claim mileage for this?

4. If I use my personal vehicle to run errands for the church (see question 1) are those errands deductible?
*more*

2007-12-13 02:52:11 · 7 answers · asked by Joel N 2 in United States

In New York State is my employer legally obligated to give me payed sick days?

2007-12-13 02:41:48 · 10 answers · asked by Baby N 1 in United States

HOW DO I GET THE THE MONEY AND FILL OUT THE FORM

2007-12-13 02:30:54 · 3 answers · asked by Gregory P 1 in United States

Yesterday I asked - I started a corporation this year and was unable to really pay myself. If I have no income can I expect to get anything back if I have appox. 30K in deductions. I am talking about personal taxes not corporate. Can I expect to get anything back on my personal taxes. Regardless of my income I still had the same expenses with help from family and I still have the same deductions.

2007-12-13 02:25:43 · 4 answers · asked by Anonymous in United States

I paid $250 to adopt a dog. This included the care that he received to that point, incurred by the shelter (vet care, shots, food, neutering). I was told that this was considered a donation. Since the shelter would be a non-profit organization, can this "donation" be considered tax deductible?

2007-12-13 02:21:57 · 8 answers · asked by nipsy3 2 in United States

My husband and I are trying to refinance our home mortgage with some other credit cards. We were approved by a bank and then they saw our tax returns that show my income after deductions for my in home daycare. Debt to income was too high and loan was not finished. Loan officer said I need to give myself a W2 for earnings and then I would be approved. So, how is that done and does it affect our taxes in the end? Also, is it possible to get W2's made for previous tax years?

2007-12-13 02:07:51 · 2 answers · asked by Anonymous in United States

My expenses include air travel, rental car, hotel and meals. He was in the hospital for 4 months and died as a result of his sickness.

2007-12-13 01:46:04 · 5 answers · asked by wedding dad 1 in United States

I entered a contest and won a $250 gift card.
-Do I have to report this to the IRS and pay taxes on it?
-If so, will the place I won the gift card from give me paperwork or am responisble for it myself?
-What percentage are prizes taxed at?

2007-12-13 01:37:31 · 9 answers · asked by ♪ La La La Not Listening... 3 in United States

I worked really hard, all year i mean, exceedingly hard.. amazingly hard, because i had alot of debt from college and earned a $10,000 bonus and on my final check of the year I got it, and it was taxed at 48%. what in the world?

2007-12-13 01:32:55 · 7 answers · asked by Drew W 2 in United States

2007-12-13 01:02:01 · 4 answers · asked by Tracy S 1 in United States

My husband and I have custody of our two grandchildren, and have had them since February, and we are going to file them on our income tax. The trouble is that their parents let the other grandparents file them last year and feel that they are going to try to do it again this year. What is the earliest date that we can file our taxes so that no one else can claim them?

2007-12-13 00:56:01 · 6 answers · asked by cajun_queen_1970 2 in United States

My job offers matching to 4% but I have 10% going into it.
Should I just keep the matching 4% going into my 401k and then put the rest (6%) into an IRA?

I know We get a tax break if we put money into a IRA but not a R-IRA because there will be not tax on the Roth on the back end but
Do we get a tax break on the money we put into our 401k?

2007-12-13 00:48:20 · 4 answers · asked by imadnesss 1 in United States

I am having a new heating system installed in my home.Is that tax deductable?I am self employed,but work out of the home.

2007-12-13 00:12:14 · 4 answers · asked by Cheese 5 in United States