Taxes - December 2007

Say a person has engaged someone to work for them. The terms of engagement are only VERBALLY agreed upon - eg: Rate of pay, number of days of notice. The only documented proof of engagement is the payment made to the employee. Now if the employee quits after borrowing money that he has not yet given back to the employer, can the employer minus that amount of money from the employee's last check ? Once again the only documentation of money being borrowed is the transfer of money from the employer's bank account to the employee's account. Can the employer legally do that ? Also, if the employee quits before the required days notice period, can the employer deduct the losses from the employee's pay ?

2007-12-17 17:49:12 · 3 answers · asked by sc2008 3 in United States

2007-12-17 17:27:45 · 1 answers · asked by Anonymous in Other - Taxes

2007-12-17 16:23:57 · 3 answers · asked by Anonymous in United States

I'm a student at a college and I'm worried if I deposit an extra 100$ or 300$ that say my grandparents give me, into my checking account, they will count that as a source of income for tax purposes. I get a little financial aid and would like to keep it.

2007-12-17 15:38:24 · 8 answers · asked by Xman1015 1 in United States

2007-12-17 14:51:18 · 5 answers · asked by SHAUN G 1 in United States

My husbands Xmas bonus was taxed at 39% because they called him an hourly employee (he's not, he's salary and always has been) with the bonus being lined as a 1 hour earning for $2500. They took $981 for taxes. Is this right? Doesn't the bonus get taxed as a salary earning?

2007-12-17 14:07:48 · 8 answers · asked by Shepherd 5 in United States

My wife and I send money each month for their support. Can I legally claim them as dependents? They are Philippine citzens and do not have US SSN's.

2007-12-17 14:05:26 · 5 answers · asked by Brad T 2 in United States

for 12mo. they say still owe8700.00 because of int.ithinking of asking 8700people to send me 1.00 to help pay the fine irs what do think

2007-12-17 13:22:15 · 6 answers · asked by lonnie m 1 in United States

Up until this year (2007), I was employed by a company and they withheld my taxes. I've always withheld enough and usually got a tax refund each year.

Starting Jan 1, 2007 this year, I switched to a self employed contractor status. The employer paid me gross amount each month with no withholding.

Since I had no penalties or tax underpayment in the past, I was not required to pay estimated quarterly tax payments this year.

My question is: I know I will have to make a big tax payment on April 15, 2008 since I didn't have any withholding and didn't make any estimated tax payments this year.

Should I make a big estimated tax payment this month before the end of the year, or would I get charged interest/penalty anyway for not making payments earlier this year in prior quarters?

2007-12-17 13:09:25 · 4 answers · asked by cjerry66 1 in United States

2007-12-17 12:40:47 · 3 answers · asked by Cruise Guy 1 in United States

I just started a paper route and my employer does not take out taxes. I'm not sure how to go about doing my taxes. A friend told me that I didn't make enough this year to even worry about it (about $6,000). Anyone know about this kind of thing?

2007-12-17 12:33:37 · 4 answers · asked by dnda89 1 in United States

2007-12-17 12:31:45 · 1 answers · asked by makkaylasnana 1 in United States

2007-12-17 11:57:17 · 4 answers · asked by mayagurl08 1 in United States

Does anyone know the approximate percentage that comes out as tax?

From previous history it appears to be around 45%.... just wondering if anyone knew for sure or of any websites.

Thanks!

2007-12-17 11:38:26 · 4 answers · asked by NoTurningBackNow 5 in United States

2007-12-17 11:29:41 · 4 answers · asked by angelkelly0228 1 in United States

2007-12-17 11:22:24 · 4 answers · asked by jakekno 1 in United States

2007-12-17 11:18:48 · 3 answers · asked by Anonymous in United States

Hi. I inherited a house recently. Its been about nine months since the house transferred to me. From my understanding. in order to not have to pay capital gains tax ( prop value is way under the limits) if you stay in house for two years. I have stayed in this house almost my entire life the last 5 of which caring for my relatives. I want to sell this house and move on, and not stay another year and 3 months because of all the shooting and bad stuff going on in the neighborhoods. Is there an exclusion of having to pay this tax for cases like mine? Where can I find this out? ( Whether I have to pay it or not, since I have already been staying here., don't feel that I should have to stay here any longer, now that my responsibilities as caregiver are over. Thank you so much!

2007-12-17 11:04:17 · 4 answers · asked by Alana 2 in United States

I have been presented with an opportunity by my company (based in the US) to move to their Brussels office. I have read on several websites that the income tax is insanely high in Belgium and was wondering if I can do anything to offset it. Are there any tax breaks associated with being an expat? If so, how do I exercise them? If not, how do people normally live when more than 50% of their income goes to the government? I currently live in CT, where cost of living is relatively inexpensive, and I am only taxed 25%.

2007-12-17 10:50:46 · 4 answers · asked by rsachdev03 2 in Other - Taxes

TODAYS TAXES

Air Travel Taxes / 911 Funds
Accounts Receivable Tax
Building Permit Taxes and Fees
Capital Gains Tax
License Tax & Fees
Cigarette Tax
Corporate Income Tax
Court Fines (indirect taxes)
Dog License Tax
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing/Hunting License Tax
Food License Tax
Fuel permit tax
Gasoline Tax (42 cents per gallon)
Hunting License Tax
Inheritance Tax Interest Expense (tax on the money THEY paid tax on already)
Access Fees to Parks
Water/Cable Bills Marked up 30% by every City
Penalties (tax on top of tax)
Liquor Tax
Local Income Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Property Tax
Real Estate Tax
Septic Permit Tax
Sales Tax
Social Security Tax
Single Business Tax
Road Usage Taxes (Truckers)
Recreational Vehicle Tax
Road Toll Booth Taxes
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Ttaxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Non-Recurring Charges
911 Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Toll Bridge Taxes
Toll Tunnel Taxes
Traffic Fines (indirect taxation)
Trailer Registration Tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Water craft Registration Tax
Well Permit Tax
Workers Compensation Tax

COMMENTS:
Not one of these taxes existed 100 years ago and our nation was the most prosperous in the world, had absolutely no national debt; had the largest middle class in the world and Mom stayed home to raise the kids.

2007-12-17 10:45:42 · 9 answers · asked by Anonymous in United States

Last two paychecks, I noticed I was getting an extra $200. Today, I accounted for that $200 based on less taxes taken out for Federal and State. The reason? They changed my exemptions from 1 to 9! Obviously I want to change this back to 1 but as far as the extra money I received, do they take that back or do I account for it in taxes?

2007-12-17 10:02:33 · 9 answers · asked by djresourceonline 1 in United States

@ what ratio is it tax deductible in the UK?

2007-12-17 09:31:35 · 1 answers · asked by gigm 1 in United Kingdom

if i worked 60 hours at 7.75, it equals $465..but how much will be took out from taxes?

2007-12-17 08:55:10 · 5 answers · asked by Katie 1 in United States

We do not itemize our federal taxes. Still we pay $600 more per year in state taxes than in federal.

2007-12-17 08:24:50 · 4 answers · asked by pennypincher 7 in United States

2007-12-17 08:00:01 · 3 answers · asked by Kira-The true shinigami 1 in United States

2007-12-17 07:37:05 · 4 answers · asked by Savannah 5 in United States

2007-12-17 07:21:20 · 7 answers · asked by Gina C 1 in United States

charge taxes for any valuables? What does this mean?

2007-12-17 07:18:01 · 7 answers · asked by mybusiness2 1 in United States

A decendants trust testamentary distribution is what is involved.

2007-12-17 07:01:43 · 4 answers · asked by Tom Lawyer 1 in United States

I know there's that gift amount, but I forgot what it is. It's a small piece of land.. 1268 square meters according to our tax bill and it's assessed at a little more than $26,000. If we donate this land to my sister in law and her husband, do my husband and I have to pay any kind of tax? Thanks!

2007-12-17 06:42:51 · 2 answers · asked by 2Beagles 6 in United States