United States - December 2006

My sister's daughter is in college. After she is done (4 years), she will most likely manage my sister's restaurant. Can my sister have a write-off as a business incurred education/learning expense?

2006-12-20 09:05:16 · 6 answers · asked by Amanda R 1

If I'm resident in state Georgia. And I formed LLC in state Alabama for holding real estate property with posit. cashflow.

2006-12-20 08:54:52 · 2 answers · asked by E u g e 1

Specifically clothing and household items.

I recently moved and really cleaned house. I donated probably a good $1000 worth of stuff to St. Vincent De Paul. I did save all of the receipts. Will I get that money back in my tax return? I'm not sure how that works. I have donated before, but never claimed it.

2006-12-20 08:28:06 · 5 answers · asked by ? 6

2006-12-20 08:08:33 · 8 answers · asked by Anonymous

It is my understanding that I can contribute up to 25% of my income into an IRA. It is 25% of gross income or 25% of profit (net of expenses)? Also, is the deadline for this 12/31 or do I have until 3/31/07?

2006-12-20 07:28:45 · 3 answers · asked by anonynonymous 1

I have an asset (stock) that I don't want to liquidate and I need to be able to legally say that I don't personally own it on a particular day. But, I don't want to use a solution that requires tax fees. I also want this to be a legal transaction where I "gift" the asset and then revoke the gift. And, if you are concerned about ethics, the asset is for the benefit of the minor child.

2006-12-20 06:48:10 · 8 answers · asked by Coach_SCA 3

I was just given a bonus of one-month's pay, and I noticed that they only withheld 7.65% as opposed to the normal 20+% that is withheld from my regular paychecks. What will this mean to me when tax season comes around?

2006-12-20 06:41:21 · 5 answers · asked by Anonymous

2006-12-20 06:40:14 · 3 answers · asked by bklynangel66 1

2006-12-20 06:34:13 · 4 answers · asked by Ron 1

I am receiving a final settlement check from a company due to a vechicle accident. Do I have to claim this on my taxes?

2006-12-20 06:26:45 · 5 answers · asked by BRENDA E 1

please take into account that im 26 and single. how much is the gov. taking from me?

2006-12-20 06:08:42 · 6 answers · asked by trustcrony 1

2006-12-20 06:02:44 · 5 answers · asked by manpsych 2

2006-12-20 03:52:21 · 2 answers · asked by Heather M 1

when i play poker online sites offer rakeback is this taxable thanks

2006-12-20 03:41:43 · 2 answers · asked by todd c 1

I am Married and have 2 children. When I did the worksheet it came up to 7, which seems like a LOT to me.

2006-12-20 01:22:58 · 6 answers · asked by HoosierMommy06 3

2006-12-20 01:03:39 · 4 answers · asked by Anonymous

My husband and I got married Nov. 4, 2006. Our daughter was born June 30, 2006. I am a housewife and don't bring any income into the family and he is our sole supporter. Can we file a joint return?

2006-12-20 01:03:08 · 8 answers · asked by McComasMama 2

Facts: TP is a U.S. Citizen with some U.S. Income. He has a business in Italy (which if he ran in the U.S. would be a Sch. C with a net loss of 20k). He loses 20k in the business in Italy. Is there any reason he would not be able to deduct the loss on his U.S. return?

2006-12-20 00:26:56 · 3 answers · asked by woodluvto 2

2006-12-19 22:20:29 · 2 answers · asked by Vasu 2

When overpaid state income tax is itemized into the federal deduction, I get back federal money I'm not technically entitled to. Next year I will have to report the state refund and pay federal taxes on it.

1) Will I have to report the 2006 state refund only if I itemize on the 2007 tax return? If yes, great (though doesn't make much sense), if not, where will it be reported?

2) Is there a way to adjust my federal taxes this year so that I don't get back this federal money now and don't have to report state refund next year? If yes, how? I was hoping for something on Schedule A, but I don't see it.

Thanks.

2006-12-19 21:52:43 · 5 answers · asked by teehee 3

I'm a legal adult and + I work full-time. I turned 18 in '05 so I've been an adult for the whole year of 2006. I have a rocky relationship with my parents and plan on leaving soon. They will probably insist that I be claimed as a dependent on their tax returns when they are filed early next year. However, if I want to file my own tax returns and claim independent status, can I? As far as I know, there's no law saying I have to give my p's my W-2s, so if I don't give 'em to my parents, can they still claim me?

Also, why would my parents want to have me claimed as a dependent? What's in it for them, would they not have to pay as much taxes or something?

2006-12-19 17:54:45 · 16 answers · asked by ? 1

I just got out of college so now I'm making my own money and going to have to do my taxes myself for the first time. I know I claimed myself as a dependant when I filled out my forms. Will I definetly get money back? How is it that some people owe money? What factors do I need to take into consideration? I'm lost...

2006-12-19 15:51:46 · 7 answers · asked by Tricksta-Vic 2

My son hasn't won yet, but the sweepstakes involves traveling to Utah from Washington (we're in the U.S.). We'll have to stay in a hotel and will probably be traveling in a limo if he wins. It's a Disney sweepstakes sooo........And how much do you think it might actually be on taxes???Please Help!!!

2006-12-19 14:54:43 · 7 answers · asked by Cody S 1

Here is the situation, I usually do my own taxes, which turn out just fine, but I need help in finding tax breaks that apply to me. I am a roommate, I know about the Hope Credit, but I'm really interested in finding a way to use my textbooks as a tax write-off. Can you guys please help with suggestions on potential things I may use to help get more money back this tax season? Thanks.

2006-12-19 14:42:46 · 6 answers · asked by Andy 3

To anyone who knows the rules and regulation about filing taxes. I have been giving money to help a poor family outside the country. The question is can I itemized this as a "money gift"? Does anyone know about it? Please serious answer only.

2006-12-19 14:13:09 · 5 answers · asked by ladybug 2

It is nearing fiscal year end and I want to find out how I can save tax money for my small business that is involved in software consultancy ?

2006-12-19 13:58:08 · 1 answers · asked by Sunny 1

Instead of getting taxes out of my check, how can i have them NOT take out taxes and write a check at the end of the year instead of them taking taxes out?

2006-12-19 13:06:22 · 8 answers · asked by TheDiciple 2

How do you go about filing taxes for two jobs? Over the summer I picked up a 2nd job and worked there for a few weeks. Now, do I have combine those earnings with my regular job, or do I file them separately?

2006-12-19 13:04:26 · 6 answers · asked by Andrew G 2

i'm moving soon and whated to know what i can claim on my taxes

2006-12-19 13:04:13 · 3 answers · asked by Tanya B 1

I own a business and I know just about everything can be duducted or written off but I don't know exactly what can and can not.

2006-12-19 11:13:34 · 4 answers · asked by Shawn C 1