Taxes - December 2007

the settlement didnt even cover the entire cost of the medical bills. we had a pay the attorney from the settlement money. so basically we were left with barely anything. do i even have to pay taxes on it?

2007-12-10 04:03:25 · 3 answers · asked by Anonymous in United States

2007-12-10 03:29:47 · 3 answers · asked by Mike S 1 in United States

I've been married a year. Is that going to cause a problem with my tax return?

2007-12-10 02:54:54 · 8 answers · asked by cpaw03 2 in United States

I realize the speculative nature of this question, but I'm just curious if anyone has any expertise that might apply.

I currently have my retirement savings split between a traditional (tax-deferred) IRA and a Roth IRA. I am taking a year off from work and live in FL, a state with no state income tax. Now would be an ideal time for me to convert my traditional IRA to a Roth at a low rate of taxation.

My one concern (although I find this scenario very unlikely) is this: if the income tax is repealed in this country, will those of us who chose to pay tax up front for a Roth account simply lose all of that tax money that we've paid? Will those with traditional IRAs hit the jackpot as all of the sudden their tax-deferred accounts become tax-free? What stipulations, if any, would eliminate this seemingly unfair situation?

2007-12-10 02:44:13 · 6 answers · asked by jtabbsvt 5 in United States

2007-12-10 02:34:44 · 2 answers · asked by Debbie W 1 in United States

My ex was just recently served with child support and I have not received a payment yet. I have been raising our 3 year old daughter soley on my own and he has no contact with her whatsoever. He states that since he is paying child support now, mind you I have not received a payment yet, he is going to claim my daughter on his taxes. Can he do this? I live in Iowa if that makes a difference.

2007-12-10 02:25:06 · 10 answers · asked by Sarah 1 in United States

I'm U.S. citizen and live overseas with my husband who is not U.S. resident. I also have no income. In this case, do I still need to apply tax form? If so, which form should I use?

2007-12-10 02:23:38 · 1 answers · asked by Nao 1 in United States

I won't be in the country when we're gonna do the taxes,how can I do my taxes?

Can I do them in advance?

Can I do them online?

Thanks!

2007-12-10 01:51:58 · 5 answers · asked by Anonymous in United States

A friend of mine has not filed his taxes in approximately 5 years and is now looking into buying a house. How does he go about filing his past taxes? Can he file his 2007 taxes prior to the other years?

2007-12-10 01:42:00 · 6 answers · asked by nu_girlie 2 in United States

I took an early withdrawl from my 401K to cover a house purchase and college this year but now don't think I had enough withheld to cover the taxes and early withdrawa penalty. I would like to make sure enough is withheld so I dont get hit with more interstest and penalties. How do I pay my estimated amount I think i owe the IRS. Do I use the quaterly payment estimate of taxes and send that to the IRS. When is it due. Is January 15 the cutoff date to get payments in during 2007?

2007-12-10 01:14:44 · 3 answers · asked by maxton 2 in United States

owned since 1991, risen from purchase of £38,450, up to approx £100K now.........
Rental income not great, 100% endowment mortage

2007-12-10 00:46:32 · 4 answers · asked by Anonymous in United Kingdom

2007-12-10 00:33:48 · 3 answers · asked by Dee P 1 in United States

I know the costs of our jobs. I know the income. How do I figure out percentage profit loss based on this?

2007-12-10 00:00:55 · 3 answers · asked by Tonya B 2 in United States

2007-12-09 23:28:36 · 2 answers · asked by Mavadipalli Rameshbabu 1 in Other - Taxes

my accountant has vanished, he sent my tax return to the wrong office he says, i had the inland rev round, he was out of the country but promised he sent it now i got bailifs on the way for 9 and a half grand. i havent got ninety pounds im a mini cab driver with high overheads like two grand insurance feul car maintenence i was off a lot aswell with a couple of ops what can i do

2007-12-09 21:38:32 · 8 answers · asked by David 2 in United Kingdom

I have $18K in my 401K, considering cashing out to pay credit card debt of $18K. My income for the end of year is under $15K however I am married and file joint. Will i be taxed? I know the penalty will apply. Is it any different if I file Married filing seperate? Thx!!

2007-12-09 20:17:33 · 2 answers · asked by lmarks42 1 in United States

I had just gotten employed at this business and I'm a college student. However, I am concerned if they will take taxes out of my check, being that its the end of the year, I was told that they wouldnt, however, if it is true, then I'll budget. So my question is: Can the gov't deduct taxes from your payroll check when its the end of the year?

2007-12-09 20:12:33 · 11 answers · asked by Anonymous in United States

Hi, I'm from New York State
I was recently married on 10/01/07 and I am only 18 years old.
Right now I am filling out FAFSA information so I can attend college in the Spring and my mom told me she is claiming me and that my husband cannot claim me because we have not been married for a year
--she also said that she has the right to claim me because she supported me all of the year 2007 up until the end of September


can she do this?
or can my husband claim me?

2007-12-09 19:31:26 · 4 answers · asked by Mrs. Flynn 2 in United States

Okay....I have a hard time figuring out how much money my husband and I are supposesd to be getting back, and I have a couple of questions!

First....we are married...I did not bring in any income this year. I just started a job last week, however I am self employed!
So, can he claim me as a dependant? Everyone says yes, but when we did our taxes last year they told us NO!

We bought a home in September...can we get money back from that....and how do you determine that?

2007-12-09 18:37:12 · 3 answers · asked by mr.t'smom 2 in United States

I'm considering doing my holiday shopping online, and had heard that it's tax-free, but most sites seem to be charging taxes, so I was wondering how much the cost difference would be compared to going to the store.

2007-12-09 18:25:40 · 4 answers · asked by Anonymous in United States

Eliminating today's complex income tax sounds wonder. The idea is not new. But would Congress ever allow that to happen? How much oppositon would Fair Tax run into? Impossible, yes or no?

2007-12-09 17:34:12 · 7 answers · asked by JIM 4 in United States

someone told me to have them take an additional 10% to cover taxes so I wont have to do that in the coming year when I get the money.
I thought I had to pay the 20% penalty PLUS another 10% and THEN still pay regular income tax on the remaining 70%.
Is this correct ?
I dont wont to get stuck paying taxes at the end of next year because I didnt have enough taken out.
I get the money in January so it will pertain to the year 2008.
I was given advice that the 10% would be enough and I would have the 70% scotch free.
Somehow It sounds too good to be true.
Thanks for your answers.
_____________________________________________
# 2 - If for some reason they wont take out that additional 10%, Could I go ahead and pay taxes on the check in January 2008 when I get it ? Thanks..

2007-12-09 17:18:58 · 6 answers · asked by palma 5 in United States

im still 16 and i have a minimum wage job but I have been wondering about my taxe return. I claim zero but does that mean I'll be getting ALL my money back or will I still have to pay them as much as a non-minor would?

2007-12-09 16:36:33 · 10 answers · asked by Alicia R 1 in United States

i get my w-2 on the 1st why arent you allowec to e-file till the 11th

2007-12-09 16:09:40 · 4 answers · asked by kemmer1029 2 in United States

Yes i am being taxes if i wasn't i would not be asking.
and statement #2 I am a Dependant.

2007-12-09 15:40:55 · 2 answers · asked by guest987654321 2 in United States

I live in my own place but support my girlfriend and child whom live in a %30 income apartment across town. I pay all of her and my sons expenses such as rent (which is only $65.00) all groceries, gas, etc. We choose not to live together for personal reasons, and she does not work because she is in school. I am going to claim my son as a dependant on my income tax although he lives with her, (she is going to fill out the necessary form for me to do so). What I am wondering is whether or not I can claim head of household on my income taxes?

2007-12-09 15:11:09 · 3 answers · asked by pieface 1 in United States

I'm new to this filing-on-my-own thing, and I just realized, after going through my file cabinets, that I have some money coming back to me from Uncle Sam. However, when I file this, do I need to use a form that says 2007, or should I use one that says 2006? The money was earned in 2006, so I wasn't sure how the tax years ran. Also, since I am married but will not be filing jointly, and made under 50K, what form should I use? This grown-up stuff is hard. :(

2007-12-09 15:05:14 · 7 answers · asked by Molten Orange 5 in United States

I have a deadbeat former employer and I'm fairly certain that he won't send me a W2 for the time I worked for him. I am unsure how to even get a hold of him since his business has since gone bankrupt. What should I do if he doesn't send me a W2 form?

2007-12-09 14:35:47 · 11 answers · asked by Melissa G 1 in United States

how do i get a loan from H&R block on my next year taxes

2007-12-09 14:27:53 · 2 answers · asked by Anonymous in United States

2007-12-09 14:14:57 · 1 answers · asked by Patricia K 1 in United States