Taxes - December 2007

2007-12-09 04:38:51 · 3 answers · asked by Anonymous in United States

A 35 mm camera is regularly priced at $319.95, if the camera is one sale at a 33 1/3% discount, how much will Joe pay for this camera if the sale tax rate is 6%?

2007-12-09 03:48:35 · 4 answers · asked by Anonymous in United States

2007-12-09 03:22:01 · 7 answers · asked by Anonymous in United States

I have spent $2000 in the lottery and won $0. Can I deduct that $2000 from my gross income? I itemize.

2007-12-09 02:54:34 · 6 answers · asked by Tony M 1 in United States

If you have no address for someone who did contracting work for you, do you just send the 1099 to the IRS noting that you have no address? What if you don't even have a valid previous address for the contractor?

2007-12-09 02:39:34 · 4 answers · asked by Pascha 7 in United States

I am a full time employee and my salary is tax-paid by the company I work for. Lets say my income is 40 grand after paying tax, meaning I have this money in my pocket and its all for me.

Now, if I give my house to rental, and earn 12 grand a year, how do I calculate my income tax?

Does my primary job have anything to do with my tax payment?
If so, how is it related?

Thank you.

2007-12-09 02:37:41 · 6 answers · asked by Mike P 3 in Canada

I am considering buying a new hybrid Chevy Malibu, when they become available in the spring. Do you have any information about what the 2008 federal and state (Ohio) benefits may be, if any, to buying a hybrid vehicle. If there are could you direct me to any website or link for more information. When spending that amount of money everything figures into a purchase and we were curious about the tax benefits if any to buying energy aware.

2007-12-09 01:24:37 · 4 answers · asked by koalatcomics 7 in United States

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2007-12-09 01:17:38 · 2 answers · asked by Ruby 1 in United States

2007-12-09 01:02:33 · 3 answers · asked by Steve 1 in United States

2007-12-09 00:53:37 · 6 answers · asked by Anonymous in United States

I dont make a lot of money and like getting a refund in the winter.

2007-12-09 00:52:48 · 4 answers · asked by crazy mom 1 in United States

I had two annunities that were not growing in value like I thought they should. I decided to withdraw all of the money and would like to put it in an IRA. Will I still need to pay taxes on it?

2007-12-08 23:41:23 · 4 answers · asked by Judy S 1 in United States

You pay a tax on the income that you earn and file it with the IRS but do you really have to? So why are you paying and who will get rid of it? The truth to this answer will shock you.

2007-12-08 22:38:44 · 10 answers · asked by knowledge is power 1 in United States

Hi,

I am a U.S. citizen living in Argentina as a permanent resident, with my wife (dual U.S./Argentinean citizen) and my son (dual as well). Almost all of my income qualifies for the Foreign earned income exclusion. I have about $20,000 in a traditional IRA that I contributed to prior to the move. My question: If I convert this to a Roth IRA, how can I calculate how much penalty I'll have to pay? I suspect that if I convert less than the standard deduction amount on my tax return, that I won't have to pay anything, but perhaps I'm missing something. I googled for a little while, but couldn't find how to calculate this. Maybe i should have just gone directly to IRS website and read the tax code.

Thanks,

Jason

2007-12-08 21:38:09 · 5 answers · asked by jasonphos 3 in United States

2007-12-08 19:45:46 · 3 answers · asked by Nicole A 1 in United States

2007-12-08 19:35:45 · 4 answers · asked by Ming A 1 in United States

What personal income tax deductions can you make on your yearly tax returns when you own your own Personal home?

2007-12-08 16:46:45 · 6 answers · asked by Photo S 1 in United States

2007-12-08 15:50:14 · 15 answers · asked by aka_motos 1 in United States

My boyfriend and I have lived together during 2007 and he was unemployed for about 8 months. I was the only one making money for more than half of the year and supporting both of us. We are gay (2 males). Would he qualify as my dependant? We are both U.S. citizens, we are NOT registered as domestic partners, I paid for more than half of the cost of maintaining our home.

2007-12-08 15:35:10 · 8 answers · asked by Anonymous in United States

2007-12-08 15:28:27 · 4 answers · asked by powerpuller1966 1 in United States

Hello everyone!

I bought an used car last summer because I needed a better transportation in order to get to my classes on time after work. Last time I filed my taxes, I asked the lady who prepared them about getting a car and she said she was NOT sure if I could claim tax back. I do not know how this works, but now that I have bought a car I would like to know if I can claim some tax back since I am a student and my car payments are as high as my small paycheck. I pay my college tuition from my own pocket; no student loans, etc.

Thank you!

2007-12-08 14:48:39 · 3 answers · asked by Anonymous in United States

INITIALLY I THOUGHT I HEARD IT WAS TO BE A TEMPORARY THING AND I HAVE KNOWN SOME PEOPLE THAT HAVE NOT PAID WHY DO WE HAVE TO

2007-12-08 14:19:27 · 31 answers · asked by paula c 2 in United States

2007-12-08 14:10:26 · 4 answers · asked by Jean-François D 1 in India

Just wondering how it works. For example, if I have $5000 deduction, does that count toward Federal, State, Medicare (1.4%), and Social Security (6.2%)?

2007-12-08 13:34:41 · 3 answers · asked by Skytide 3 in United States

2007-12-08 13:10:52 · 4 answers · asked by Anonymous in United States

I'm married with 2 children. Kentucky is my state. I rent so know interest to write off. My income will be $68,000. Federal witheld is $6260. State witheld is $2130. City witheld is $880. I claimed 4 all year. An estimate would be greatly appreciated. thank you

2007-12-08 12:21:25 · 3 answers · asked by Laura H 1 in United States

The online courses are mandatory for my career.!

2007-12-08 12:10:44 · 5 answers · asked by Anonymous in United States

I live in Texas, file for 0 dependents, and do not have state or city taxes. When I multiply my hours worked by the rate, what do I substract from it. How much taxes and other deductions do I subtract as in taxes, unemployment, and Social security adn what else and the percentages for each. I do not have nothing subtract from my check as like health insurance or any other "programs" Thanks.

The most info someone gives me will get the best answer

2007-12-08 12:10:36 · 2 answers · asked by USARMYINFANTRY 3 in United States

Does anyone know how I can find a job preparing income taxes on line. I have over 30 yrs experience and am a retired Illinois tax auditor. I have prepared for a CPA firm in Portland Maine the last 2 yrs, but now I live in rural Michigan and cannot find a job close enough that pays enough money. I am looking for a job as an on line tax preparer, but don't know how to find one. Can anyone help?

2007-12-08 12:06:33 · 4 answers · asked by irongrama 6 in United States

i am HOH , I KEEP hearing since i make more i should claim him then i here since she makes less she should claim him. whats the CORRECT answer to this situation

2007-12-08 11:54:48 · 2 answers · asked by Anonymous in Other - Taxes