United States - December 2006

we closed july 13th. what can we deduct? We've put in $5,000 in labor and repairs. Can we deduct that? plus our tax valuation is $14,000 more than what we bought the house for. what are the options on getting some of those taxes back? i hate taxes. why does it have to be so confusing? why isn't there a Simple list of what you can deduct without reading 150 pages of tax law?

2006-12-27 03:33:07 · 3 answers · asked by jyl l 2

2006-12-27 02:57:52 · 7 answers · asked by saluda1950 2

So the idea is to use the persons tax return as the method of payment.

I'm looking at TurboTax, etc.

Is this just a matter of the "buyer" signing a Power of Attorney?

I want the transaction to be complete at the filing stage. I do not want to have the "buyer" sign over the check.

Any known instruments for this?

Thank you all...

2006-12-27 02:44:23 · 4 answers · asked by Anonymous

I actively look for properties to buy and this ear I found one, made an offer w/earnest money deposit, paid for appraisal, inspections etc. But deal fell through due to unexpected flood insurance issues. My questions are:

-Can I write-off earnest money deposit loss, appraisal fee, inspections associate with this deal which unfortunately did not materialize.

I appreciate your feedback and if you could include some tax/IRS references it would help grately.

Thanks.

2006-12-27 02:32:55 · 2 answers · asked by insurancelawcase 1

My mother in law is fixing to be 57 in March of 07 and her husband died 3 year ago as of Jan. 7th. She ad not worked previously because he had altzheimers and so she had to stay home with him. Since his death, she has gotten a job but is still barely making it. Is there any way she can get any social security from his death? Any help is appreciated!! Thanks!!

2006-12-27 02:28:03 · 4 answers · asked by BooBoo Momma 2

I own an income property (4-unit) building in another state and have to use my cell phone on occations to talk to management company, tenants, vendors, maintance, etc. Also use Internet to discuss issues with property management company etc.
My questions are:
-Can I deduct cell phone bills for 2006 as business expense?
-Can I deduct internet usage as business expense in 2006?
I appreciate if you can point to some IRS publications if possible...in addition to your answers.

2006-12-27 02:27:38 · 3 answers · asked by insurancelawcase 1

I live in Wisconsin, work full time, go to school full time and I rent. I would like to know what items are tax deductible such as:

Car repairs, food, prescription contacts, medical copay, rent, etc.

Where can I find a website that lists all this items, contains all this information and with the samples of the income tax forms so that I can calculate things before taking it to a professional? Something like Income Tax for Dummies kind of website.

Thanks!!!

Thanks!!!

2006-12-27 02:26:10 · 7 answers · asked by Kamy 3

I'm not expert on this, but the IRS nowadays lets folks write off most education expenses...am I right?

Getting my pilots license took five years and cost more than $15,000 of my own hard-earned money (I received no loans, paying entirely as I went). It's absurd that the IRS won't let you deduct a single penny of this (though, I've heard that certain flight training costs, beyond the level of commercial rating, are deductible, and was wondering if someone could comment on this).

I consider this to be a valid education expense and intend to make a career out of this one day, I don't consider this strictly as a hobby (even though I certainly love flying).

Is there any way around this ridiculous law? Or is this just one more reason for me to despise the IRS?

2006-12-27 01:41:27 · 11 answers · asked by Student 3

I know a business that has been knowlingly fileing falsy for the pass 10 years not paying taxes on hundreds of thousands of dollars

2006-12-27 01:12:34 · 6 answers · asked by reddog19074 1

2006-12-27 00:07:20 · 3 answers · asked by PKK 1

She resides at independant Senior Citizen home but is unable to cook, clean, shower etc... Can I claim her on my tax? Management office of the center said that she's too old to be by herself and eventually will need full time care. But for now 4 days a week would be ok.

2006-12-26 19:19:30 · 4 answers · asked by sunkist 2

I know it is on previously owned property not brand new built houses, you continue to pay what you were paying despite the cost of your "new" house you can only do it once in your life time

2006-12-26 19:14:58 · 4 answers · asked by MOMOF4 2

I was asked by CCIS(child care subsidy) that I have to complete w-9 and pay my own taxes... What can I write off? can I write my rent/ car lease etc?

2006-12-26 18:20:19 · 4 answers · asked by sunkist 2

2006-12-26 18:19:39 · 4 answers · asked by rec 1

weve been living together for 3 years and i pay all the bills and she goes to college she just recently got a job with wendys about 6 months ago she dont make much but all her money goes to tuition i claim 2 on my w4 at work and make gross 2250 and net 1760

2006-12-26 17:57:30 · 8 answers · asked by whatsepultra 2

Hi, I & my spouse were working in US till Nov 2005 & we moved to india . We didnt file the taxes as we were outside US. We didnt get an extension either. Also we dont have any documentation except some payslips , no W-2. Can anyone suggest how do we proceed? Is there any way just by SSN alone we can pay the taxes?

2006-12-26 17:50:52 · 5 answers · asked by Senthil n 1

I have an IRA originally it was from a 401k, when I took this money out of the 401k I paid no interest, and recieved no penalty from taking this out since I rolled it over to an IRA. I need this money what happens if I take the money out now? What kind of fines and taxes will I pay on about $4,000?

2006-12-26 17:29:10 · 6 answers · asked by samanny 5

Yes, this is a really stupid question, but I moved recently from California to Minnesota. I noticed that whenever I buy something here in MN, i don't have to pay sales tax. Can someone explain to me why? Is CA the only state that has sales tax?

2006-12-26 16:53:20 · 6 answers · asked by Christina 2

I have my last pay stub. Is there a web site? I tried IRS.gov but could not figure out where to go. Thanks!

2006-12-26 16:39:13 · 6 answers · asked by ? 3

this year i bought an '06 scion xB, and i was told by some one, that i could get credit for it, suppossedly, it does good to the economics to buy a car. is this true????

2006-12-26 16:15:42 · 11 answers · asked by Anonymous

Are any office supplies or "entertainment" purchases made (movies, magazines, internet, etc) tax deductable? Most of these items are related to becoming for informed for work.

2006-12-26 14:58:29 · 4 answers · asked by NG 1

2006-12-26 14:16:57 · 4 answers · asked by Devil Dog 2

2006-12-26 13:43:09 · 5 answers · asked by Alex 1

how do i get a fedral imcome tax lien implied on a lawsuit matter to be paid by the person that owes me the money?

2006-12-26 13:24:52 · 5 answers · asked by drttrkrcr8d 1

2006-12-26 13:23:19 · 4 answers · asked by maui67camaro 2

I worked around May 2006 here in California, and quit my job around 4-5 months later coz of school. I believe the salary was $6.75 an hour. Can I file my tax? If not, how long can I work before I can file tax? Because i'm afraid instead of getting some money out of it, might end up oweing money.

2006-12-26 13:22:19 · 11 answers · asked by Anonymous

I left my husband on july 1st, with my daughter from a previous marriage with which I have custody of and I need to know if legally I have to claim married filing separately or if I am allowed to file another way. No lawyers have been hired yet to handle the divorce but do not want to file jointly with future ex. He is not to be trusted.

2006-12-26 13:21:19 · 14 answers · asked by lovemyebulldogs 1

Is it possible to do a tax base exchange after the fact for a retired couple who own only a portion of the residence? For example: a couple buys a house for ~792k along with the wife's parents who own an 18% stake and plan on living there til they die. Also, the grandparents are from out of state and they sold there home for lets say 300. Could they do that and how would it work?

2006-12-26 13:17:34 · 2 answers · asked by AK-47 2

2006-12-26 13:08:51 · 2 answers · asked by maui67camaro 2

2006-12-26 13:04:38 · 4 answers · asked by k 3