United States - November 2006

2006-11-12 05:43:49 · 1 answers · asked by marivel b 1

first question is:
my mother and i are both working ..i am under 18 and claimed "o" on my tax forms..can she still claim me?

second question is:
my mom has a total of 4 kids..does she claim 2 now and two later? or can she claim "0" now and then claim the rest of us at tax time?

2006-11-12 05:22:48 · 4 answers · asked by hunybubs 1

2006-11-12 04:45:26 · 1 answers · asked by sexytee 1

I want to open a Bank of America account linked to mine, but he would then have a high interest account (emigrant direct) linked so he could earn 5% on his savings. This is in addition to a 529 I am going to open for him, but gifts made to him personally would go to this savings account, separate from his education fund. Does he have to pay tax on the interest he makes through the years?

2006-11-12 03:45:29 · 10 answers · asked by Anonymous

I read several years ago that they hired a bunch of new agents to go after sole-proprietors and corporations with one employee. I wonder if these groups are still most at risk for audits. Please only answer if you have a good reference or are knowledgeable on the subject. Thanks.

2006-11-12 03:43:40 · 1 answers · asked by martin h 6

have lived here three years

2006-11-12 03:20:12 · 4 answers · asked by chigaimasu 2

Mary is both a real estate developer and the owner and manager of residential real estate. Mary is retiring and is going to sell both the land he is holding for future development and the rental properties he owns. Straight-line depreciation was used to depreciate the rental real estate. The rental properties will be sold at a substantial loss, and the development property will be sold at a substantial gain. What are the nature of these gains and losses?

I am trying to figure out the important facts of the case. Any suggestions.

I'm guessing that everything is a 1231 asset since it's all business use. Would he be an active participant? How can I tell from what I have? Any suggestions are appreciated. We don't have 1250 recapture since it was all straight line realty. What issues do you see? How might you present them?

2006-11-12 02:42:35 · 4 answers · asked by Tommy L 1

Alan and Joanne Schneider of Middleburgheights, OH have been indicted of fraud using 1400 investors monies to line their own pockets and yet those of us affeccted by this misjustice have no recourse. We can not even deduct our ivestment loss from our income taxes. Well that is not entirely true we may deduct 3000.00 per year, at that rate I will be 192,000 years old before I recoup mine.

How does the judicial and tax system let this happen?
One investor committed suicide and another attempted a murder-suicide. The investors are virtually left with their hands tied and no recourse.
Our judicial system needs a serious revamping!!!!!!!

2006-11-12 01:48:52 · 6 answers · asked by rovin36@verizon.net 1

Americans pay taxes on earned income and general worth until a certain point when suddenly they are able to pay none because of certain loopholes and so forth. When they become what we call rich, the opportunities to hide money in certain non-taxable areas are there for these people. If we all paid as little as 8% no matter who you are, is this the right thing to do? Multi-millionaires will still be required to pay millions of dollars in taxes instead of none. What do you think?

2006-11-11 23:31:20 · 8 answers · asked by Anonymous

I moved to the UK 2 years ago and am still paying New York taxes every year. I was told that I can avoid this by filling out a form to declare that I am no longer a resident of New York. I have been all over the web to try and find this form and no luck. Can anyone help me? Even my accountant didn't know (maybe time to get a new accountant :-)

2006-11-11 19:54:46 · 3 answers · asked by michelin_man 3

2006-11-11 17:25:44 · 2 answers · asked by debbie26_98 1

What states have low or the lowest property taxes? I live in Wisconsin where they can easily run 6000 a year and thats sort of high I would like somewhere where they are at least under 4000.

2006-11-11 16:58:04 · 8 answers · asked by MEEEE 1

2006-11-11 16:54:25 · 8 answers · asked by what the heck 1

if they are working. we also have 1 child, we have both worked all year at the same job. last year i think we filed seperate, we was also married then. so should we file joint or spereate this year and can one of us claim all three. we go to H&R block but just would like others opion on the best way to get more back!

2006-11-11 16:09:24 · 6 answers · asked by Anonymous

for tax purposes. Should I remain an independent contractor or turn it into a sole propietorship(privately owned business)? Which is better, what are the pros/cons? Thanks.

2006-11-11 15:29:28 · 5 answers · asked by Anonymous

JUST CURIOUS , I WAS READING UP ON IT , AND IT SEEMS LIKE A BIG GAME ALMOST!

2006-11-11 14:35:09 · 9 answers · asked by mlpasko2001 1

please provide a source of how it affects the taxes. taxes are for illinois.

2006-11-11 14:28:06 · 7 answers · asked by tazman2303 2

2006-11-11 14:11:10 · 6 answers · asked by copefish 1

I painted 30 apartments for a guy who works for madison rental properties in ann arbor this guy only paid me for 30% of what he owes me I tod this person I would take him to small claims court.So he threatens me that he wants my ssn # to file a 1099 I dont think he even has one how can I demand him or this rental co give me there tax ID# I think its sad to have to deal with people like this.any help would mean alot thanks Tommy

2006-11-11 14:07:26 · 6 answers · asked by tommyalan2366 1

I know someone who hasn't filed their taxes in 5 years, and they went to a tax attorney and were told that they will owe about $45K...could they also get prison time? Would the IRS be easier on them because they are now making it up on their own?

2006-11-11 11:34:18 · 2 answers · asked by redfraggle 2

and by the way do u have a website i could go to to find out thnkx^_^

2006-11-11 09:49:09 · 4 answers · asked by jattcno1 1

2006-11-11 09:48:31 · 4 answers · asked by girlnla@sbcglobal.net 1

how much is the income tax in oxnard california? how much when you have a single and/or double job?

i have a greencard and a resident in florida. but im moving to california. i dunno if this has something to do with the tax but im putting it neway in case

2006-11-11 08:51:44 · 3 answers · asked by nikky d 1

My paycheck was issued on 8/11/2006 by Sunset Marina, LLC (12911 Sunset Avenue, Ocean City, Md 21842) at the Bank of Ocean City. There is no date on the check that says how long it is good for.

2006-11-11 08:02:05 · 6 answers · asked by Anonymous

this for my school project i need at least 50 people to answer the question.

2006-11-11 07:36:22 · 4 answers · asked by Remi 1

2006-11-11 06:35:50 · 2 answers · asked by Thomas S 1

In June of 2002 I was laid off from a major oil and gas company in Houston. I recieved a prety good severance package from which I took out $10,000 cash put it in an envelop and tucked it away. After spending the rest of 2002 and all of 2003 looking for a stable job and not finding one, in 2004 I decided to pull out the money and try my hand at starting a company doing website development and consulting. I was up to my neck in credit cards, so decided "NO MORE CREDIT CARDS", and went cash and carry, for the most part. Used my amex, and debit card some but not much. I needed computer equipment, since the company had always provided one, so went to swap meets, garage sales, etc and bought used equipment. Most of my receipts are those you get from a supply store. Everything I bought was cash. I closed the company at the end of 2005 when the money ran out, now I am being audited for 2004. What can I expect in the audit? What will they be looking for? I can supply more info if needed

2006-11-11 04:42:30 · 3 answers · asked by sam y 1

In April 2006, I opened a SEP-IRA. Can I covert it to a ROTH IRA?

2006-11-11 04:29:47 · 3 answers · asked by fomocojo_2000 2

I won a trip from Marlboro Racing School with $3000 of it being cash and the additional $9000 is for the trip, etc. I know I have to pay taxes on it, but I have no idea how much that will be. Any ballpark figures would help!

2006-11-11 04:16:13 · 2 answers · asked by alexis 1

Do you think it would be a good idea to stop issuing dollar bills (would save a bunch of trees in the process) and have it replaced with a plastic ATM card; that way people will be unable to avoid taxes, since there will be a computerized money trail?

2006-11-11 03:29:43 · 6 answers · asked by Anonymous