Taxes - December 2007

I closed in 2005, it seems ridiculous to me that people that bought houses only in 2007 are eligible for the deduction. People that had loans issued in 2004,2005 and 2006 probably still pay PMI even in 2007... So why can't we deduct.

This is a stupid law.

2007-12-19 06:54:24 · 3 answers · asked by Razor 2 in United States

I am currently in one state but would like to move to another and I want to know if the unemployment benefits can move with me. If yes, what is the process for doing it?

2007-12-19 06:28:36 · 5 answers · asked by מימי 6 in United States

We have a commercial property under S-corp and we are preparing our trust. For tax purpose such as capital gain in future acquisiton, is it better to have the commercial property title under trust or just leave it under s-corp. thanks

2007-12-19 06:10:43 · 3 answers · asked by Anonymous in United States

2007-12-19 06:08:59 · 6 answers · asked by Anonymous in United Kingdom

I ordered a hat from U.S.A on the internet. It cost 49 dollars (£25) It was being sent to my elderly mother, but the delivery driver wanted £22 charge for import....My poor mother did not have the money on her so the driver left an invoice. This seams a very high amount for this hat? Any body know if this is right please?

2007-12-19 06:05:35 · 5 answers · asked by Anonymous in United Kingdom

I have the paper work (the actual accepted forms)

Can I use those forms to complete the state tax for the same year?

2007-12-19 06:03:41 · 2 answers · asked by Olive Crayon 4 in United States

We have a commercial property and we have been filing Sch E. Now, We want to have the commercial property under either LLC or S-Corp. Which one is better as far as reducing or not paying capital gain when we decided to sell the property. I think with LLC your basis are same so you do not have to pay capital gain? What would you suggest? thanks

2007-12-19 06:03:37 · 3 answers · asked by Anonymous in United States

2007-12-19 05:43:19 · 8 answers · asked by Kristi B 1 in United States

Is there a company out there that can help people like me who know there must be a better way. It is so hard toy get ahead.

Please help if you know something I do not!

Thanks!

2007-12-19 05:42:40 · 9 answers · asked by I pay way too much in taxes 1 in United States

2007-12-19 05:34:36 · 6 answers · asked by kimberly b 1 in United States

Can my boyfriend claim my son (Caleb) on his tax return? we have lived together all year and i also have a son (Luke) with him. We are not married because it will mess up my financial aid for college. Caleb's father has nothing to do with him and has never paid a dime in child support. I also did not work all year. I hear some rules have changed, but I don't see why my bf wouldn't be able to claim him when he provided ALL of his support this year. Its confusing!! Thanks in advance!

2007-12-19 05:31:26 · 16 answers · asked by ash 2 in United States

he has never resolved this. Since then my parents passed away and left me an inheritance in which I used for a down payment for a house. We lived in California and I've heard that the wife could be responsible for the husbands back taxes. Do you think I should worry about losing my house? I was never involved in his buisness.

2007-12-19 05:25:46 · 14 answers · asked by susan_112147 1 in United States

If they are 14 or older it is taxed at the child's rate? And if they are younger than 14 they are taxed at the a special rate, partly at the child's rate, partly at the parent's rate?

2007-12-19 04:56:43 · 2 answers · asked by dougfr007 3 in United States

The IRS wants half my payday each week what can i do ?? Need help !! They say interest and blah blah i owe them 15,000 dollars

2007-12-19 04:26:18 · 6 answers · asked by Honeyhoney 2 in United States

I have rented my investment property for 1 yr before living there for 3 yrs. After 1 yr of renting I have a buyer for my investment property. If I transfer the investment profit to my primary residential loan(age of loan is 1 yr and 1 month) will I still have to pay the taxes on the gain?

If I want to deduce from the profit all the small home improvement expenses(for these 4 yrs I have owned it) like paints, light fixtures, storm door, garage opener etc producing the receipts is it acceptable or only major ones will account?

If I want to pay a part of the profit for my new car loan(7 months old), will I have to pay taxes? Can I split the gain to pay my car loan(direct check from buyer's bank to the car dealer) and the rest for primary home loan? In this case how will the taxes be? Can I pay for my primary home improvement (direct check from buyer's bank to home improvement company) without paying taxes?

If there are any taxes how much % will that be? I appreciate our replies.

2007-12-19 03:22:02 · 3 answers · asked by ct2008 1 in United States

When exactly can i file or how early?

2007-12-19 02:54:44 · 6 answers · asked by octaviavm 1 in United States

My husband uses a quarter tank total to get to and from work every day, can we claim that expense on our tax return? It's about 150+ a month just in gas! Thanks!

2007-12-19 02:52:18 · 6 answers · asked by mememe 2 in United States

goodwill not shown in books
buisness is service buisness and propritory and 15 yrs old

2007-12-19 02:33:35 · 3 answers · asked by mayur s 2 in Other - Taxes

i have Recd mail from BMW promotion council saying i have won lottery and they wanted me to get in touch with their claims officer who in turn forwarded me to Chase bank Director Financial services in U.K,This gentleman want me to forward 1000$ for claiming how true is this are they fooling people if so how can we stop this

2007-12-19 02:20:22 · 8 answers · asked by bvs s 1 in United Kingdom

Being that I'm married, my wife and I file jointly, and I usually get about 2,200 somewhere in that range. Last year I took out 3,000 and it didn't effect it that much. I think it was a couple of hundred dollars, any ideas?

2007-12-19 02:10:37 · 4 answers · asked by ceza_us 1 in United States

I have a photography business. I am completely home based, with no other employees under me. I do events, family portraits, engagements, etc. Do I need a Tax ID, for when I am writing off expenses on my taxes or what!?

2007-12-19 02:02:51 · 8 answers · asked by David 2 in United States

my friend is building a house and paying his illegal workers in cash. he is then deducting that cash paid to illegal immigrants from his bottom line on his taxes. i told him this was illegal...is it?

2007-12-19 01:44:41 · 4 answers · asked by jolly 1 in United States

Single guy renting apartment

2007-12-19 01:20:00 · 6 answers · asked by Anonymous in United States

My hus and I have never had to pay in, weve always had a return, but this year I forgot to switch our exemptions, (claimed 10! all year, duhhhmmmbbb...) and my hus should make 95ish k. My ? is, we are prob looking at like 6 or 7 k to pay, are they due ON Ap 17 or can we file extension or what is the payment plan like, (ie - int.rate, length of loan and all that)

2007-12-19 00:55:41 · 3 answers · asked by lkps 2 in Other - Taxes

Do you think Britain is over-taxed....so much so that it stifles initiative?

2007-12-19 00:52:41 · 8 answers · asked by B0uncingMoonman@aol.com 7 in United Kingdom

2007-12-18 23:59:58 · 8 answers · asked by MizTeri47 2 in United States

frnds tell me about the surcharge and educational chess while on taxation........
need ur kind opinion

2007-12-18 21:47:18 · 1 answers · asked by prem 1 in Other - Taxes

2007-12-18 21:38:11 · 1 answers · asked by Anonymous in Other - Taxes

and some of so called"dividends" are actually interest.

2007-12-18 18:27:52 · 1 answers · asked by Anonymous in Other - Taxes

Can we contribute to a deductible IRA and if so how much? So far we max out our contributions to Roth IRA's every year. Also, my wife has about $8000 per year put into a 401k plan by her employer.

2007-12-18 18:17:37 · 3 answers · asked by Meadowlark 2 in United States