United States - November 2006

I received a large sum of money ($12,000) from my motor vehicle insurance company. Do I have to pay any taxes? If I do, then how much? When do I pay? How do I pay?

i will be rewarding 10 pts. for the best answer!!!

2006-11-07 13:23:15 · 11 answers · asked by Anonymous

If I receive a large sum of money from the insurance company, do I have to pay any tax. If I do, how much do I pay? How do I pay it? When do I have to pay it?

I will give 10 pts for the best answer!

2006-11-07 12:38:48 · 9 answers · asked by Anonymous

I've contributed some money to FSA.Was aiming at 1000 some $s by end of yr.Now, I'm planning to quit the job in a couple of wks.I've not made any health care expenses at all so far.Planning to buy some OTC stuff to use that money.Before when should I make the expenses-end of 2 wks?,before when should I claim reimbursement-that also before end of 2 wks or is there more time for this? Can I continue to make contributions and later reimburse all the money?

2006-11-07 11:52:28 · 2 answers · asked by Pearl J 2

2006-11-07 09:03:41 · 3 answers · asked by Anonymous

2006-11-07 08:46:49 · 4 answers · asked by Islander 1

2006-11-07 08:27:26 · 4 answers · asked by Jami M 1

I want Sting to do my taxes. How much would that cost? Is he any good at it?

2006-11-07 08:02:20 · 6 answers · asked by Anonymous

How can we help a friend pay his back taxes, before he gets married and brings his spouse down with him. He acts like it is not a big deal, but he hasn't paid his freaking taxes!! I don't even know where to tell him to start! Can anyone help.

2006-11-07 08:01:59 · 10 answers · asked by Sassy 1

If I have 1,000 shares of non-qualified stock options with exercise price at $15. When I exercised them the price of the stock was at $35. I did not sell right away and hold on to them for a few months. Unfortunately the stock keeps falling and I finally sold at $25. Is it true that I have to pay tax on gain base on the stock price when I first exercised the options (i.e. $35) and not the actual sales price (i.e. $25)?

2006-11-07 07:40:48 · 3 answers · asked by Sea_turtle 2

I have never itemized, as my standard deduction has always more than covered things like my 401k contribution. We bought a house this year, and I would love to be able to itemize! Bad news is I also got downsized (week before we closed, no less!) so I'm guessing the 6 months of 401k contributions + interest on the home will still not be greater than my standard deduction.

Here's my question: if I roll my 401k into a regular IRA, can I deduct the $4k max contribution to the IRA rather than deduct the contributions I made the 1st 6 months of this year to the 401k?

2006-11-07 07:36:50 · 5 answers · asked by Anonymous

If this is true why isn't it a bigger political issue? I own a self storage business and property taxes are our largest expense. If a foreigner could avoid these taxes they would have an extremely unfair advantage.

2006-11-07 06:15:55 · 10 answers · asked by Danny C 1

2006-11-07 05:54:07 · 5 answers · asked by Anonymous

By taxes I mean - on groceries, clothing, building supplies - shoes, etc.

2006-11-07 05:02:21 · 3 answers · asked by Angela N 1

2006-11-07 04:46:32 · 8 answers · asked by justlifefornow 1

Just trying to figure out if I need to report this income or is it exempt.

2006-11-07 04:22:27 · 9 answers · asked by C C 1

Can a tax collector legally kidnap one's child, or have that child remove from their, home in order to deny a claim for earned income credit. In a malicious attempt to settle a vendata against that individual. Then claim that the child does not live with the indevidual. When they were the ones who kidnapped him in the first place? Are tax collectors above the Law?

2006-11-07 04:20:31 · 5 answers · asked by mre919 1

trying to estimate cost of living and what I'll have to play with.

2006-11-07 02:50:43 · 3 answers · asked by HermesAlchemist 1

a.subtract 4 1/2%
b.add 4 1/2%
c.multiply by 1.045
d.multiply by 1.04

2006-11-07 02:25:00 · 1 answers · asked by Tony R 1

escrow account? trust account?

thank you so much.

2006-11-07 00:36:23 · 4 answers · asked by Tara F 1

I am in a panic. The IRS is going to audit me in 3 weeks. They have ask for receipts for items I claimed on a Schedule C, however, try as I might, I am unable to find them and dont know what to do. I am scared. I did my own taxes. This is for year 2004, but they want to see 2003 and 2005 tax returns as well. At this point I don't really know what to do. The schedule C relates to equipment, software and a class I took. I have tried to remember the when and where of it all, but just can't. If I just tell them I can't find them, what am I faced with? I don't have the money to get an attorney, or CPA. I am beginning to think I am really screwed. Any advise from you folks out there?

2006-11-06 23:38:31 · 6 answers · asked by Anonymous

i recived a settlement check from a car accident i was in in january, do i have to pay taxes on that money?
like do i have to put it as xtra income!
it was only 6,500.00..
do they decuct it from my initial refund? How does that work!

2006-11-06 17:26:57 · 5 answers · asked by natalie & danny 2

I saw that a friend of mine is getting wages garnished from her check from her employer. Her total is gonna be like $4000.00. What does this mean exactly and what are some things that she could have done for this to happen? I am not going to ask her because I know she isn't going to tell me.
Thanks.

2006-11-06 17:22:05 · 12 answers · asked by Anonymous

2006-11-06 14:03:01 · 6 answers · asked by Mattie M 1

this is the question:
During 2006 couples, who are married and have two dependent children, have the following income and losses:
Total salaries$130,000
Bank account interest25,000
Short-term capital gain4,000
Short-term capital loss(1,500)

they also incurred the following expenses:
Qualified medical expenses$20,000
State income taxes paid12,000
Property taxes on home2,300
Qualified residence interest6,000
Investment interest expense7,500
Cash charitable contributions80,000
Tax return preparation fees3,600
Unreimbursed employee business expense20,000

compute taxable income for the year.

2006-11-06 13:56:18 · 6 answers · asked by semira 1

If home equity loan is received with points - Does the points are tax detuctible ?

2006-11-06 13:06:06 · 3 answers · asked by asadayan 2

2006-11-06 12:59:53 · 7 answers · asked by Anonymous

Not-for-profit organization employee

2006-11-06 12:06:31 · 5 answers · asked by Nita 1

Now I licensed my car in a new state and I am paying vehicle tax to that state. Is this right?

2006-11-06 10:35:33 · 3 answers · asked by Patricia S 3

If they are not given the same rights as straight people that means they are kind of like 2nd class citizen and shouldn't have to pay taxes for a governmnet that doesn'y support them or do they still have to pay taxes

2006-11-06 10:20:24 · 16 answers · asked by Josie J 1

As long as you make less than 60,000 a year you should be exempted from taxes. But I'm wondering if the IRS will try to penalize me for not filing every year. I'm thinking of filing now, I'm still overseas, but I don't want to start receiving letters stating that I have to pay penalties.
Anyone have any experience with this?

2006-11-06 09:24:09 · 3 answers · asked by KSR 2