United States - November 2006

I am a contractor and I traveled and stayed at places about 3 months or so.
I stayed in Dallas for about 10 months in a house
and in New Jersey for 3 months in a hotel.
I have a small business in California.

Does anyone know how to file tax in this situation?

2006-11-27 04:10:35 · 2 answers · asked by THX_4_answering 1

Do you just include hobby income in GI and deduct allowed expense on your itemized deductions? I guess what I'm asking is there any additional forms to fill out for hobbies?

2006-11-27 04:02:56 · 5 answers · asked by Anonymous

2006-11-27 03:43:03 · 2 answers · asked by hello 1

I live with my girlfriend and we rent our home. I am not a student. What are the best ways to do my taxes to get the most money back as possible. I need to have enough deductions to get over the standard deduction is what I'm assuming. I do pay about 2000 dollars a year into my health care but I'm wondering also if I can deduct the rent paid at home. Any tax guru's input on how to get a nice return would sure be appriciated. Thanks much.

2006-11-27 03:36:45 · 10 answers · asked by bizzie 2

I want to know if there are certain behaviors to avoid in the coming years to make sure I do not expose myself to the AMT.

Should I spread any capital gains over time, so they don't accumulate in a single year?

Would a spouse going back to work make us more susceptible to the AMT?

2006-11-27 03:06:26 · 3 answers · asked by cmsb705 5

We began the operation in 1998 and have not shown a profit due to unforseen circumstances. They are trying to say we are ahobby and not a for profit. We have made money and have been making changes to the operation a little at a time. We raise and compete for championship titles on the dogs so that when we breed them, people want the pups due to their parents records to either compete with themselves or to add to their breeding program. I have spent quite a while developing the right lines to breed. Just like with show or race horses. Our unforseen problems which slowed us down were #1 Had two mortgages for two years due to our other home not selling during that time. #2 approx 6 months before I went independent as an investment rep, 9-11 hit , no one wanted to invest and my income suffered as well as our perfest credit. #3 during that same time frame my husband owned his business and the company he was invoicing was not paying in full for a year. We are fighting this! any suggestions?

2006-11-27 02:43:57 · 7 answers · asked by Bird Dog Lady 1

Data after data shows that when taxes are cut in moderate levels then increased economic activity will stimulate new revenue growth. Now, it takes a little while for the change to take hold but i havent seen data to dispute my claim...Moderate tax CUTS stimulate revenue growth over time!

Im concerned that when Democrats take over Congress in January that they will allow many of the BUSH taxcuts to expire....ARE THEY CRAZY? if they raise the tax rates again this country will go into a recession as companies and the rich make up for the bigger tax bite by shedding jobs... I just dont understand why they like high taxes so much! i can do a WAY better job with my money than THEY can do with it...Why not make more of our goverment programs, that suck INEFFICIENT tax dollars, private! The waist involved in congress, especially democrats, is APALLING!

2006-11-27 02:37:38 · 5 answers · asked by bhicks4556 1

I'm a weddding photographer and videographer. How do I file my income tax return. I've not been filing or claiming taxes on my photography work. I make average about $900.00 per month some times $4,000.00 per month but I never file taxes on them. please help and thankyou so much in advance.

2006-11-27 01:41:31 · 4 answers · asked by Anonymous

I just purchased a timeshare property with my sister who is still in college. I'm just wondering if her name is on the deed if she will have to claim that somewhere on taxes this year?

2006-11-27 00:02:46 · 3 answers · asked by jmk_jenmarie 3

I bought my house 7 months ago and am very curiouse. I put in new tile total cost 4,000(tile alone), carpet and invested in lots of things from The home Depot. We payed interests all year long about 6,000 or so. I am new to this and want to get an idea of how much I will get be getting back when I do my Taxes. Can you also claim your car or other things? Thanks

2006-11-26 18:06:52 · 5 answers · asked by Anonymous

2006-11-26 17:40:09 · 7 answers · asked by RODNEY T 1

2006-11-26 17:11:37 · 2 answers · asked by r77123321 1

2006-11-26 17:03:21 · 2 answers · asked by r77123321 1

2006-11-26 16:55:49 · 3 answers · asked by daaznjrich 2

My annual income including from my rental property comes up to be around $100,000 this year.
-I contributed $7,000 to my 401K
-Other deductions (pre-tax...health care, FSA, etc)

Not including rental income my post-qualified deductions...my income will be $70,000
Mortgage interest on my primary house is $2300/month or 27,000/year.
Mortgage interest for my rental property is $1000/month or 12/yeaa.

How do I deduct mortgage interest from my earned income on the fax filings?
How much of difference will write-offs "save" me?
Thanks.

BabuRabu

2006-11-26 15:55:09 · 3 answers · asked by insurancelawcase 1

My boyfriend & I are looking to purchase our first home together. We'd like to get the most for our money, we'd like to find out what counties are the least expensive in property taxes. I have searched the web with my question and I can't seem to find this info, but I know it must be out there somewhere. Any help would be much appreciated!!! Have a nice week!!! ;-)

Mary

2006-11-26 15:19:44 · 8 answers · asked by maryannmccarthy2003 6

Is there a minimum amount of income a person has to earn to file taxes?? And what is the minimum to file earned income credit?

2006-11-26 14:38:42 · 5 answers · asked by tnzbobz 1

i have made 12000 so far and a thousand has been taken out for federal and 400 for state and i claim zero

2006-11-26 14:01:50 · 1 answers · asked by solaciouscrumb9 2

I have a great idea for a charity and I want to being making arrangments to start it. How do I go about receiving non-profit status from the IRS?

2006-11-26 13:17:12 · 4 answers · asked by xtaticlyme 2

if someone gets a paycheck of $309.40 and shows they paid 145.60 in taxes...whats the gross pay? please tell me how you did it

2006-11-26 11:55:23 · 5 answers · asked by sugarbayb846 2

i am only 15 and i want to get a job. i estimate i will make about $9000 per year so i want to know i will be able to pocket in the end. i live in michigan. this is my first job. what percengate will i need to pay for taxes? and what other factors do i need to take into consideration before estimating my total income?

2006-11-26 11:17:29 · 4 answers · asked by Anonymous

My wife has not worked all year can I claim her on my taxes?

2006-11-26 07:56:11 · 3 answers · asked by Anonymous

I'm in a lower tax bracket this year than next. I'm wondering if I can take out $10,000 from my IRA by the end of THIS year, have it taxed as income received THIS year, but purchase the home NEXT year, within the 120-day limit of course, and still qualify for the penalty exemption. Or would the income count toward NEXT years'?

2006-11-26 07:54:56 · 3 answers · asked by Takobaka 2

see i live with my boyfriend 1 1/2 yrs. and i make about 3 times more than him in a month so therefore i do end up paying a majority of things and bills...i dont understand taxes very well and i just want to know how i should file.. oh i also claim 1 exemption if that matters...should i of claimes zero? i just have so many questions...

2006-11-26 07:23:44 · 4 answers · asked by feistylilone 2

What percentage of the money coming in through contributions can be paid to directors and and board members of a non-profit corporation? Any more info on this topic?

2006-11-26 06:52:51 · 4 answers · asked by xtaticlyme 2

I need to know if it would be better to file married filing jointly with my husband or should we both file married filing separate returns. I made $46,000 and he has made $1,400. He had not worked all year because of him studying and getting his real estate license. He just sold his first house and his commission was the $1,400. He spent around $5,500 getting is real estate license and getting his business started. We have no other income, ira's, stocks or anything so our taxes are pretty cut and dry.

2006-11-26 06:16:25 · 5 answers · asked by oh_no_not_now 1

Im only 17 and the irs says i made 63.80 for the fiscal year and i know it cant be from work bcuz i dont work

2006-11-26 05:42:23 · 4 answers · asked by Anonymous

We are married, have one child. Would we go with "married filing jointly"? Or would he just do head of household and I do married filing jointly. I'm confused.

2006-11-26 04:02:33 · 3 answers · asked by Crystal B 3

2006-11-26 02:10:14 · 1 answers · asked by Anonymous

My former husband passed away a few weeks ago and I have been told that I could draw from his Social Security retirement fund. We were married for 25 yrs.

2006-11-26 00:31:25 · 5 answers · asked by patricia r 1