Taxes - December 2007

i only need 1 credit point to reach the 40 credit points. i know that for 2008, a credit point is given for every $1050 earnings. if i can earn this in a month's time, can i avail of the retirement already?

2007-12-05 05:58:15 · 4 answers · asked by derek 1 in United States

I'm worried that I might owe on my 2007 taxes.....what do you think? I estimate that my gross income is $48,000 and that I will have paid in a total of $13,135.45 not including health insurance leaves me with a take home amount of $34864.55 or with health insurance deducted than my true take home is $33,105.80
I am single and have no children or even a mortgage. All year on my checks I claimed 0 and have estimated that in just taxes without health insurance they have taken just slightly over 27.5% of my check. With health insurance included they have taken just over 30.5%. The reason I list with and without health insurance is because I'm not sure what information one would need. So please help me if you know so i'll have a heads up. Thank you

2007-12-05 05:39:26 · 6 answers · asked by Lilly 1 in United States

If you live in Indiana and have one child and go to school and gross an income of 40,000 dollars per year by working for yourself as an independent contractor. What would you pay into taxes?

2007-12-05 05:22:06 · 1 answers · asked by Scarlet 2 in United States

I am awaiting word on an insurance settlement from a car accident....when the insurance company settles and sends a check, will I pay income tax out of that? Just trying to find out because I want no trouble with IRS............thanks in advance

2007-12-05 05:12:35 · 3 answers · asked by misterpetee 3 in United States

I am a full-time employee working towards a M.S. part time. I will be filing as Single, and no one can claim me as a dependent.

Am i still eligible to get the higher education tax credit (either Hope or Lifetime Learning) if my work is paying for my tuition?

2007-12-05 04:58:51 · 1 answers · asked by Jennifer M 3 in United States

I am wondering the earliest to file online/inexpensive way???? I dont have my W2's. Single parent of one, work p.t.

2007-12-05 04:53:21 · 5 answers · asked by arb 2 in United States

My son works for temporary service and earns about 300 a week. He claims EXEMPT from withholding yet they withhold taxes and add EIC payments in the same amount. Anyone know why this may be?
They will not discuss it with me and just tell my son that's what they have to do.

2007-12-05 04:51:56 · 3 answers · asked by dale h 2 in United States

where should i report insurance expeses, supplies, telephone and utilities for the partnership, travel and auto expenses?

2007-12-05 04:43:49 · 2 answers · asked by Jesus J 1 in United States

What would an out to dinner expense be catagorized as if I was on business travel? 100% reimbursable according to IRS standards?? Thanks!

2007-12-05 04:26:30 · 4 answers · asked by NONE 2 in United States

i know i have to complete k1 1065, where do i report interest income?

2007-12-05 04:23:04 · 1 answers · asked by Jesus J 1 in United States

I work for the state of California and I have taxes taken out of my check. I am also self employed. Do I file a separate 1099 for my second job and a 1040 for my first. Can I claim expenses separate?

2007-12-05 04:11:48 · 3 answers · asked by gidn 2 in United States

2007-12-05 04:03:56 · 11 answers · asked by Anonymous in United States

My employer offers raffle tickets for hitting my daily conversion rates and on the end of the month the tickets are drawn for items ranging from $15 gift cards to $700 dollar TVs. On recieving your next paycheck if you won an item the tax will be automaticly deducted from your check. Now as it is my understanding incentives from employers are 100% tax deductable. So if they dont have to pay they taxes why should I? Can they,should they and if they arent who do I contact about this?

2007-12-05 03:40:41 · 5 answers · asked by purpl3h4ze 2 in United States

At what income amount does a tax rate go from 24% TO 33% ???

2007-12-05 03:35:06 · 2 answers · asked by ERICKA 2 in United States

My wife works from home. She has about $4000 dollars in office expenses this year. We are filing a joint return Married. Do I base the 2% AGI limit on her salary or our combined household salary. Example if we made $90k this year. $90K x 2% = $1800. $4000 - $1800 = $2200 in deductions. Her alone would be $37k x 2% = $740. $4000 -$ 740 = $3260 deduction! Much Better Which is it? Does anyone know of Tax Software that does this?

2007-12-05 03:14:56 · 7 answers · asked by jipn12 1 in United States

This form is for people who did not make enough to file taxes.
This for my financial assistance to go back to college.

2007-12-05 02:59:49 · 4 answers · asked by sarahmark2 1 in United States

I paid a CPA $1500 retainer to handle my taxes. After two months, the guy did nothing. I asked for an itemized listing of what work he did on my file, and he did not have one. The guy had me fax duplicate documents over to him again and again. Finally, I called the IRS and handled the situation myself. It took two hours of my time.

Now, I want my $1500 back. I paid the CPA the money in advance. I think this is called "Unjust Enrichment." How can I get my money back?

I called the CPA to negotiate a deal to get my money back. He said, "Too bad, you signed a contract stating that the retainer was non-refundable." How can I get my money back?

2007-12-05 02:42:27 · 5 answers · asked by megabeing_2000 1 in United States

If a single person with 1 child is getting SSI.... can he or she file taxes for earned income child credit????? thank you

2007-12-05 02:05:44 · 9 answers · asked by Anonymous in United States

I bought a house in late September. The company I bought it from were tax exempt. I filed for homestead exemption. Will I get anything back on my income tax?

Thanks!!

2007-12-05 01:22:10 · 3 answers · asked by Anonymous in United States

2007-12-04 23:54:51 · 3 answers · asked by Frank 1 in United States

2007-12-04 23:16:12 · 2 answers · asked by Anonymous in Other - Taxes

I know it may sound od,but I'm not from USA and I just did as adviced....
Somebody told me that I shouldn't worry about doing the taxes,working as a dancer.
Now I've found out that it DID matter and I need to file my taxes,just like other people even though I work as a exotic dancer.
I would have been done it in the first place,but like I said...I'm not from here.
If I ask my supervisor for my past tax papers,are he gonna have the one from other past years as well?

When are the taxes due?



Thanks from someone who's trying to "clean up" her financials!

2007-12-04 23:02:35 · 3 answers · asked by Anonymous in United States

how can i pay my taxes if i have busnies on the internet like foreX trading. or amazon store i have on my web site www.dove4.com they dont do it for us they always tell us to ask some one who has experience in doing taxes papers (foreX trading)please help me with that i dont know anything about taxes and i dont wana to get in trouble is there any one can help me with that?

2007-12-04 20:19:43 · 4 answers · asked by Anonymous in United States

If the US wanted to finance the federal government entirely thru a carbon tax (or oil tax or gasoline tax), how high a tax rate would be needed to finance the government and replace the income tax and all other revenues? How much would that add to cost of a gallon of gasoline?

2007-12-04 17:49:23 · 2 answers · asked by joesq 1 in United States

this coming tax season i will have entered a new tax bracket from my usual 22g,s a year to 43g,s this year also i am now living under the same roof as my sister her daughter who is 4 and my disabled parents i am currently the only working tax paying member of the house hold and i am single . what i want to know what are my chances this year iam i going to be screwed tax wise or am i going to be ok , plus is there anyway that i can get a break becouse of the fact i take care of my family members ?

2007-12-04 17:45:21 · 5 answers · asked by sean 2 in United States

2007-12-04 17:39:57 · 1 answers · asked by april c 1 in United States

If I only worked 1 or 2 weeks the whole year, would I still get earned income credit? I have 2 kids. Please help, thanks

2007-12-04 17:19:44 · 4 answers · asked by xoxo 6 in United States

Because I saw something about it on the news about a week or so ago but I haven't heard about it since.

2007-12-04 16:32:05 · 8 answers · asked by leya 2 in United States

2007-12-04 16:08:44 · 3 answers · asked by Suzie 1 in United States

I need to borrow a large amount of money from a friend. Its greater than 12K but less than 100K. My generous friend has agreed this will be an interest-free loan and I plan on paying it back in less than a year. However I've read that the IRS will still imposed an applicable federal interest rate on my friend for lending me the money. Is there anyway he can avoid reporting the IRS imposed interest? Maybe report it as a gift?
We thought about not reporting anything to the IRS but we're afraid the IRS may catch wind of the large bank transaction and give us a big headache later. OR maybe they won't....
Does anyone have any prior experience? I would greatly appreciate it.

2007-12-04 15:55:32 · 4 answers · asked by det 1 in United States