United States - August 2006

Can anyone give me some good advice? I'm single, 25 and live in Oregon. I have worked for a real estate investment company since August 2005. I get paid at the end of the year through a 1099-Misc. I will gross around $50k this year. I know that deductions will help with reducing my taxes, but is there any reason for me to start my own business and have my employer pay my business instead of me, to help reduce all the taxes that I will end up paying to the Feds and State?
I would appreciate any advice!
Thank you much!

2006-08-07 08:23:11 · 3 answers · asked by Max 1

If you are about to get married and one of the parties owe back taxes ..How does that affect the other party ..will they be liable ??? what if the person is or is not paying the taxes

2006-08-07 07:17:32 · 13 answers · asked by puzzeled 1

Is there a way to minimize the taxes on this? Reducing the property price by the amount of cashback is not an option.

2006-08-07 07:00:36 · 4 answers · asked by shail_sharma@sbcglobal.net 1

I sell stuff on ebay from time to time. Am I required to report these sales on my taxes? If yes, why isn't ebay and other auction sites informing me about this like google in adsense?

2006-08-07 06:47:52 · 5 answers · asked by senyor pechkin 1

Is there a way to minimize the taxes on the kick back? Reducing the property price by the amount of kick back is not an option.

2006-08-07 06:24:40 · 3 answers · asked by shail_sharma@sbcglobal.net 1

2006-08-07 05:40:29 · 3 answers · asked by gege123 1

I work at a motorcycle dealership is sales and I also maintain and update the store's web page. Can I get a laptop computer and write the cost off on tax day?

2006-08-07 03:30:56 · 5 answers · asked by smbarz80 1

A relative based in the UK recently purchased a policy which was placed under a discretionary gift trust. The result of this is that the policy benefit is paid by the company to the trustees as and when the benefit arises. As this is a whole of life contract, the benefit would only be payable on death of the life assured or early surrender or partial surrender.One of the beneficiaries listed on this policy is a US citizen.

Form 3520 is generally used to report gift/foreign trust income. Would this be considered to income from a foreign trust or a gift? What documentation would be required by the IRS, for example, some kind of statement such as Foreign Grantor/Non-Grantor Trust Beneficiary Statement.

2006-08-06 23:49:08 · 1 answers · asked by legalquandry 1

THINKING OF MOVING TO ALABAMA. I WORK OVERSEAS IN IRAQ. HOW MUCH INCOME TAX WILL BE TAXED ON $100,000.00. THERE IS NO FEDERAL TAX UP TO $80,000.00

2006-08-06 23:43:26 · 5 answers · asked by victor 1

But I lost it all back at the casino near my house. The online poker money is recorded and sent to my checking account. However, I don't have record of me losing the 5000 to the casino. Do i have to pay taxes

2006-08-06 20:13:42 · 3 answers · asked by Anonymous

Is it a supsension bridge? A cement bridge? A draw-bridge? What kind?
Who's paying for it? Private donations? Taxes?

2006-08-06 16:39:22 · 4 answers · asked by smutulator 1

I recently booked a few modeling jobs as an independent contractor and I have never done this before. Is there any easy way to figure how much I owe on the money I made? I just wanted to be sure I put aside enough come tax time. THANKS!!

2006-08-06 11:48:05 · 15 answers · asked by Anonymous

Finlay fine jewerly is my employer

2006-08-06 09:48:29 · 4 answers · asked by jw122860 1

2006-08-06 09:20:46 · 3 answers · asked by bicky w 1

I've started selling things on Ebay and I'm just wondering how far you can take it before it's considered a secondary source of income? Do you have to list it on your taxes?

2006-08-06 08:28:18 · 30 answers · asked by Anonymous

My condo has a serious construction problem and we can no longer go after the builder (10 year time limit per state law, they built it 25 years ago). So all condo owners in the building have to pay a special assessment. Is there anyway of deducting this? I am not getting a 2nd mortgage, homeowner's loan, or anything like that, I am taking a loan from my Federal 401K plan. The loan itself/the interest is not deductible, I'm wondering if the emergency repair bill itself is.

2006-08-06 07:10:07 · 4 answers · asked by Rossonero NorCal SFECU 7

We recently moved to VA and I will be going to graduate school next year. We dont have any children. I do not work. Can he now claim "2" tax exemptions on his work W2 form. Can I be considered a dependent?

2006-08-06 07:07:52 · 11 answers · asked by kikiM 1

2006-08-06 05:07:29 · 5 answers · asked by garnetborn 1

2006-08-06 02:43:42 · 2 answers · asked by williamsak87 1

2006-08-05 20:22:53 · 11 answers · asked by mk 3

Wife was in an auto accident. Our attorney negotiated a small settlement with the insurance company. IRS claims we owe tax on the settlement because our attorney reported the settlement amount as nonemplyoyee compensation paid to us. I thought insurance settlements were nontaxabel income. Need help or the proper publication in the tax code to cite when I respond to the IRS. Thanks

2006-08-05 15:01:05 · 5 answers · asked by gler 1

For low income families that work and file a tax return at the end of the year i know that there is a certain bracket that you fall into that determines how much you get back.It doesnt work like the more you make the more you get back but along the lines of "payed in more than most low income people but not enough to live properly" so these people get more money back at the end of the year.Does anyone know what this bracket is?

2006-08-05 14:43:34 · 4 answers · asked by alecnaaron 3

I am currently in London, but I work for a US company. Under what taxation do I fall within? To make matters more complicated, my address on file is in Illinois, but I will be working in New York City. Do I pay London, New York, or Illinois tax?

2006-08-05 13:44:23 · 3 answers · asked by rumarlee2003 1

2006-08-05 13:03:57 · 2 answers · asked by korn325564 1

Specifically can I receive 2 gifts (from each parent) of $12k making a total of $24k without having to pay taxes? Or is it just the first $12k that is tax free?

2006-08-05 12:38:46 · 3 answers · asked by Paul T 1

2006-08-05 11:20:02 · 13 answers · asked by rch_26 1

2006-08-05 09:29:36 · 2 answers · asked by Doc B 1

I work overseas and for the tax years 2002 to 2004 i filled my taxes but didnt claim a return do to being overseas. i am do back all my federal and some state for those years.
Can i still get the money that is owed to me?

2006-08-05 08:26:59 · 11 answers · asked by nick m 1

I have an IRA acct and want to withdraw $40,000. I was told the bank has to withhold 10% for taxes, and another 10% penalty because I am under 59 1/2 (I think this was the age). Will I be able to deduct that 10% penalty from my taxes next year? Serious answers only please.....Thanx.

2006-08-05 08:11:03 · 7 answers · asked by Imamamea 2

this is for income tax purpose

2006-08-05 07:40:14 · 4 answers · asked by richard g 1