United States - November 2006

I had my son in August and had heard about getting extra on your returns for the first year of having a child. I was wondering if this is true how much it usually is and what it is called.

2006-11-05 10:58:08 · 7 answers · asked by ♥♫♥ Crystal ♥♫♥ 4

ok here wht i really mean.......if Alaskan votes to impose a nearly $1 billion-a-year tax on oil companies holding leases for undeveloped natural gas lying in the ground on the state's North Slope region. will it only reflect on the oil companies owners or the regular users of gasoline toooo?

2006-11-05 10:13:26 · 3 answers · asked by L0cA Ch!Ca 1

Should they be allowed to keep the money and if so do they owe taxes on their winnings? Or are their winnings subject to their countries taxing system?

2006-11-05 08:38:35 · 3 answers · asked by prettycoolchick38 4

2006-11-05 07:29:43 · 3 answers · asked by RJ 3

2006-11-05 05:18:50 · 2 answers · asked by Whodene 2

I have a corporation established in Wyoming for future mining operations. There has been no profit realized since its inception and minimal investment. What federal forms should I file to keep everything upfront?

I established the corporation in April of 2006

2006-11-05 04:19:42 · 3 answers · asked by MalibuSS 2

2006-11-05 03:55:59 · 7 answers · asked by John O 2

Im single, no dependants, live in an apartment, can i claim head of household, thus claiming a total of 2 instead of 1 and get a little more on each paycheck to live on, without owing a ton at the end of the year ?

2006-11-05 03:40:56 · 5 answers · asked by kimmy3 3

2006-11-05 03:14:53 · 4 answers · asked by versatile1 1

I work for a company and every week I deduct $20 from my paycheck and it goes towards purchasing company stock. I needed some money this year and I sold $2,600 worth of it so my quesion is am I going to have to pay taxes on all of this $2,600 or just profits (if any because I have no idea how much I paid in but I know I didn't make much in profits)?

2006-11-04 20:12:29 · 4 answers · asked by Dean L 2

I am a student and am applying for a summer internship which is in another state. The employer indicated that participants will stay in an apartment free of charge, which is a taxable benefit. Does this mean they write this off when they file taxes, or does this mean that this will count against me when I file taxes?

2006-11-04 18:12:44 · 5 answers · asked by G 3

Based on a combined yearly salary of $60,000
We have two kids in grade school, two car payments and $2000
in credit card debt.
My husband and I don't own a home yet, but we're trying to save
for a down payment.
BTW we're Fla. residents.

2006-11-04 17:45:16 · 9 answers · asked by Mother Knows Best 2

IRS sent letter asking for tax code for the reason for the appeal. I'm appealing their decision based on medical reasons for the delay in filing taxes

2006-11-04 17:30:01 · 4 answers · asked by Monique 1

2006-11-04 15:44:13 · 4 answers · asked by thomas b 1

If a couple is divorced and they have 3 kids is it alright for the non-custodial parent to claim one of the children when you file your taxes and try to get the EArned Income Credit?

2006-11-04 15:35:41 · 5 answers · asked by Holden's Momma 2

2006-11-04 15:21:53 · 4 answers · asked by freddy t 1

Im not referring to how much is withheld or how much you have to send in within so many days of winning but the total percentage, if you have no deductions such as children, medical expenses. What is the maximum % of federal taxes one could have to pay.

2006-11-04 15:17:00 · 4 answers · asked by casey 5

If you are a shareholder in an S-Corp and receive a distribution in respect to stock; do you have to pay any tax on it? For example, let's say you made $50,000 as part of your regular salary as an employee of said S-Corporation. That is taxed, I know. Now, let's say you receive an additional $30,000 at the end of the year in the of a distribution in respect to stock. Do you pay taxes on that $30,000 or do you get to keep it all free and clear?

2006-11-04 14:56:26 · 3 answers · asked by Anonymous

2006-11-04 13:31:18 · 3 answers · asked by marekny7 2

I was in an accident, I settled and the check was for a little over 16,500.00

2006-11-04 11:43:24 · 8 answers · asked by Monique 1

In an "intentionally defective grantor trust" in which the grantor
retained the power to substitute assets....may the grantor substitute
cash for appreciated stocks owned by the trust so that the appreciated
stocks end up back in his estate and eligible for a step-up in basis
upon his death? (Obviously, the question assums that no capital gains tax is
triggered by substitution itself...if this is a false assumption
please explain.)
If the answer is yes....does it make any difference if the
intentionally defective grantor trust owns the appreciated stocks in
an LLC entity.

2006-11-04 10:34:27 · 2 answers · asked by Larry M 1

...Said that by the year 2040 SS will be payong OUT more taxes than willl be coming in, so will you people working off the books please pay your taxes so the rest of us LEGAL TAX PAYING CITIZENS will have a future ? Your "kind" is what is sucking the system dry, leaving little or NO benefits for those who worked all their lives to be able to retire, or get BONIFIED disability benefits !

2006-11-04 09:47:29 · 5 answers · asked by kimmy3 3

We are selling our home in Seattle and relocating to California. If the company agrees to cover our real estate agent fees (and sales tax) would there be any tax liability for the company or us?

2006-11-04 09:10:44 · 3 answers · asked by Paul T 1

We believe we are liable for taxes on the sale of our main home as it has risen more than the $500k allowance for a married couple (see earlier question). Can we deduct real estate agent fees before calculating the capital gains tax liability?

2006-11-04 09:06:44 · 3 answers · asked by Paul T 1

We are selling our home in Seattle and relocating to California. The value of our home has risen by more than the $500k exclusion for a married couple, even when we take out expenditure on improvements. Will we have to pay capital gains tax on the extra profit even if we are re-investing in another property in California as our main home?

2006-11-04 08:59:43 · 2 answers · asked by Paul T 1

2006-11-04 06:39:54 · 4 answers · asked by angel_rat_83 1

I live in California; Los Angeles County

2006-11-04 05:32:30 · 2 answers · asked by chefrobp 1

2006-11-04 05:27:54 · 1 answers · asked by willhg 1

In 2004 I put the incorrect amount of short term capital loss income carry over from my previous 2003 return. I entered an erroneous amount (less than what I should have put) because I didn't have my 2003 records to know how much I could carry over in 2004. Then in 2005 I was able to get my 2003 records to know what I should have put in 2004 as the carry over so I put in my correct carry over amount from 2003 minus what I deducted ($3000) from 2004 and put the accurate figures now in my 2005 tax return as the carry over amount BUT.. i mistakenly put it under long term capital loss carry over instead of short term.

I know this was very careless on my part and I'm not going to take my time next time and get things right but for the time being, does this warrant a tax audit? And should I fill out a 1040x to correct all this or does this even matter since they do have my 2003, 2002, on file to cross reference right?

2006-11-04 05:10:06 · 2 answers · asked by unhappy 1

2006-11-04 05:08:14 · 1 answers · asked by Aschwartzey 1