United States - September 2006

2006-09-25 07:37:33 · 7 answers · asked by freebirdat2002 2

I have a sole proprietor business and wants to get an EIN to separate my business and personal financials. But does getting an EIN require me to file a separate tax return for my business whether I have any transactions or not for the year?

2006-09-25 06:51:29 · 5 answers · asked by Slimmy 3

I'm unmarried with a newborn. I have daycare expenses and qualify for the child care credit. I work full time, but was on unemployment where no taxes were taken out of my paycheck for 5 months. Before then I worked for 6 weeks and was claiming 0 and had an additional $15 taken out each week (in anticipation of my upcoming unemployment).

2006-09-25 04:36:56 · 12 answers · asked by CH30 1

what is the percentage of tax collected from an individual in US ...HEY BE ACCurate and exact

2006-09-25 04:03:50 · 11 answers · asked by Profe....llikr 4

2006-09-25 03:57:03 · 7 answers · asked by HEY boo boo 6

We are over the $110K limit to claim the standard deduction, but I am in a dilemna of switching from my non licensed day care provider to a licensed one and am wondering if the tax credit we would get would be significant?
I looked on irs.gov, but wasnt sure. I do know that if our joint return's AGI is over $110K (which it is) then we only get a reduced amount. Does anyone know how to calc so I could take this into consideration for switching???????

2006-09-25 02:41:27 · 3 answers · asked by Anonymous

My wife thinks an audit is possible and I'm looking for trouble. Anyone have experience with this situation.

2006-09-24 16:33:08 · 6 answers · asked by rj12 2

2006-09-24 15:44:04 · 7 answers · asked by lazy_n_spoiled 2

I wonder why stores and restaurants don't include sales taxes in their prices? Instead of tacking on the 7% sales tax (in NC) why can't they just put it on advertisements, shelves, and menus? Would you prefer a store that gave you predictable prices? For example, would you go to a restaurant that had their prices in full dollar amounts, IE $5 for hamburger & fries, instead of say,4.89?

2006-09-24 14:04:15 · 6 answers · asked by alpha10unc 1

I currently have 2 single family homes which I have been renting (and reporting as such to the IRS) for the last 8 years. I understand the gain from the sale is counted as regular income and I hear that I must also add back the depreciation amts. claimed. Are all depreciation $ from past years counted as regular income as well? Is the gain computed from the amt the home was worth at the time it was put into rental service or the amount paid for the home (since I lived in it for 4 years prior to renting out)?
Is there any way to lower the tax burden since it will not be a like kind transaction, although the funds will be used to buy a vacation home which could possibly be rented out in off season?

2006-09-24 13:31:29 · 3 answers · asked by Anonymous

My husband and I got married this year. My employer payroll clerk told me in order to prevent any delays with the IRS,I would need to update my name which I did and I could still claim single and have my employer take out the highest amount taken out-which is 0
However,I think I should claim myself married and have them take out the highest single rate.
What direction should I go with in order to get the most money back as I want to update this soon.
I live in Pennsylvania if anyone would ask.

2006-09-24 12:51:51 · 7 answers · asked by wsm0628 3

For instance you bought a cell phone with a $100 rebate. If you receive that $100, does it need to go on the 1040?

What about a check from an auto insurance company for the amount over your deductible?

2006-09-24 12:27:03 · 8 answers · asked by Paper M 1

2006-09-24 11:22:38 · 6 answers · asked by Tetonka 3

Is this even legal? Non-profit meaning a High School Band. Just thought someone could get a Tax write off, and us a good used Truck to Haul our band around.

2006-09-24 09:06:31 · 2 answers · asked by tm 3

I dont know much about tax in america, but was watching a travel programme, where the presenter visited a shop where rich people donated precous items worth thousands of dollars to get a tax writeoff.

Surely the tax return will not be as much as the item donated?
So what am I missing?

2006-09-24 08:57:31 · 5 answers · asked by Darkspark88 3

2006-09-24 08:37:07 · 3 answers · asked by Anonymous

my husband is a freelancer and I do not think he follows the best practices. We keep all our assets separate. NO I do not have a pre nup. What is your advice

2006-09-24 08:14:33 · 11 answers · asked by justthetwoofus 3

I received a Head of Household Audit Letter which basically is asking if I used the head of household filing status correctly. Never in my life have I received one of these letters but was wondering if I received it because someone else in my house used the same address as me when they filed their taxes and filed head of household as well. If so, what will the outcome be? The person who filed had no business using my address for their taxes much less filing for head of household. Any info. would be helpful.

2006-09-24 08:12:38 · 5 answers · asked by SoCalGal75 3

I am working as an independant contractor out of state and I am curious as to how much i can write off daily without a receipt. I was told that it was somewhere around 130-145 dollars. Anybody know?

2006-09-24 08:03:44 · 4 answers · asked by turbo_junkie_vw 2

I want to donate my old clothes, but if I can get a tax break, it would greatly help me out as well. Should I donate them directly or have a yard sale and donate the proceeds. I have a bunch of old express, free promotion t-shirts from the past, gap, and hollister.

2006-09-24 07:48:31 · 3 answers · asked by alpha10unc 1

2006-09-24 07:15:26 · 0 answers · asked by ben_ev0lent 1

2006-09-24 06:54:01 · 4 answers · asked by Paula C 2

2006-09-24 05:43:27 · 3 answers · asked by Loren1 1

How many people are struggling due to high taxes?
How many people are working more than one job due to high taxes?

2006-09-24 04:06:43 · 6 answers · asked by Anonymous

2006-09-24 03:39:00 · 3 answers · asked by 1_more-lastchance 1

do they take more taxes out of your paycheck or less taxes out of your paycheck?

2006-09-23 21:56:36 · 8 answers · asked by Anonymous

I want to file exempt for 3 months. How would this affect me when I file taxes for 2006.

2006-09-23 17:06:51 · 5 answers · asked by peaches and cream 2

For tax return, how many home can I be deducting mortgage interest for? Is it just 1st and 2nd home only? or can I also deduct mort. interest for my 3-4th home?

2006-09-23 14:03:38 · 6 answers · asked by ibkid i 1

I am leaving my job and want to use a portion of my 401k savings in the meantime. I was told that there is a way to roll the money into an IRA and then withdrawl without penalty. This seems odd to me, but definitely something worth finding out about.

2006-09-23 12:24:52 · 8 answers · asked by Brian C 1

I spend money remodeling at the time of the purchase. Does this help me as well.

2006-09-23 10:28:13 · 6 answers · asked by joseph k 1