United States - December 2006

A couple of years ago I had to pay additional tax - i.e. in addition to what was already being witheld by my employer. Since then I have been witholding and additonal sum by indicating it in my W4 and usually get a small refund back.

My question is, does it more sense to instead put more money in my 401K (I have not maxed out). Will the tax sheltered nature of this investment have the same benefit vis a vis taxes as the witholding through w4?

2006-12-01 08:04:07 · 5 answers · asked by Andy 1

My son is 22. We gave him the boot in October. I still pay his health insurance and I'm trying to get him a phone hooked up. On the form to see if he qualifies for lifeline (a cheap phone rate) he has to check that he is not claimed on anyone's income tax. He wrote in there that for 10 months he was a dependant on our income tax. Is this going to create big problems for us? Should we just suck it up and pay for his phone until he can afford it?

2006-12-01 07:56:18 · 2 answers · asked by it's me 4

I'm trying to help this couple get into a home and they did not file their taxes last year. They got paid cash and were separated and the husband did not file taxes, but has always filed prior. How long does it take to file a year late and what are the penalties. Is it still possiable to get a home loan? his credit score is 602 (not the best)?

2006-12-01 06:53:04 · 2 answers · asked by Sonny 2

Will I get a bigger return if I file married or single?

2006-12-01 06:29:17 · 9 answers · asked by know it all 2

2006-12-01 06:14:54 · 3 answers · asked by NICKY T 1

2006-12-01 06:08:59 · 3 answers · asked by Shari 2

i dont have money taken out my pay check so i suppose to pay my own taxes so who do i pay it to

2006-12-01 05:25:37 · 2 answers · asked by narrahsharp@sbcglobal.net 1

On the social security site, it says the COLA 2007 will increase 3.3%. Does this mean we are going to be paying an average of 3.3% more per paycheck? If I got a 3% raise for my annual review, does this mean they just raised my pay for the cost of living adjustment and it really won't make a difference?

I am going to go in and negotiate a raise soon and was hoping I could use this as an argument. My raise was supposed to be based on performance and I don't think they were fair in just giving 3% if our cost of living is going up by that much anyway.

If I am misunderstanding the COLA, please explain it to me.

2006-12-01 05:18:54 · 4 answers · asked by Nicky G 2

I found some vague info saying that this is possible under certain conditions. Does anybody understand the details?

2006-12-01 05:08:27 · 1 answers · asked by alex 2

Does claiming her as a dependent cause any liability to her or prevent her from getting loans or buying a house in the future? Any liability for her at all?

2006-12-01 04:49:47 · 5 answers · asked by Pegasus 1

what exactly are u getting back? cause its not everything that people claim u get..with mortgages and kids how do accountants figure what u get back?

2006-12-01 04:05:11 · 5 answers · asked by toolate 3

2006-12-01 04:00:36 · 8 answers · asked by Anonymous

Who can you complain to the IRS about? My boyfriend claimed our child two y.o child for the Feb 05 tax season (last years). However he has been given the run around since then with submitting documents and proving he is the father. All forms have been submitted and when he calls weekly they say it is still being processed. The new tax year is coming and we want to get this issue resolved before it happens again. We think the problem is that he claimed 1 on his w-2's and didn't change it after our sons birth. However, shouldn't the IRS be able to work around that by telling him to change his dependant status and fix this small problem. By the way he files his taxes on his own. Anyway, how in the heck do you go about proving you are the father of a child (he's been here since birth) besides the birth certificate, ss card.

2006-12-01 01:57:58 · 5 answers · asked by nene 3

Can this be done without hiring a firm to rip me off just to stop them from taking every penny I make?

2006-12-01 01:15:58 · 9 answers · asked by Jimmie J 1

This past year, I needed to put in for an extension in my taxes. I paid the small tax due, but I hadn't had time to track down some items, so I didn't want to file at that time. When I did track down everything, it turned out that everything was correct, so I neither owed more, nor was I due a refund. I believe I then filed (via paper filing) but I can't remember. I did print out a copy of my return which I have in my records. I would like to ensure I did file, so that all is clean with the IRS. Is there any way to check the status of whether I actually filed or not?

I looked on the IRS website, and it looks like there is a section where you can check on your refund, but I don't see anything where you can just check filing status when you are not due a refund.

2006-12-01 00:21:22 · 4 answers · asked by Russ J 2