United States - January 2007

I plan on using the Dependent Reimbursement Account (DRA going forward) for Day care for my one year old. The max I can put in the account in mu state is $5,000.00 and his tuition is $600.00 a month. Should I set aside the pre tax $5,000.00 or claim the child tax credit at the end of the year? This is tearring me up because I know I have to earn about $825.00 to earn $600.00 after tax.

In addition I am not married but do live with the childs mother. If I do the DRA, can she claim him and get the child tax credit?

I live in North Carolina.

2007-01-04 02:19:50 · 3 answers · asked by that guy 2

2007-01-04 02:12:37 · 2 answers · asked by Rena 1

If the person is giving away something, why are they imposed a tax for giving a gift? Where is the logic in that? Just curious for my own knowledge purposes.

2007-01-04 02:06:21 · 4 answers · asked by unhappy 1

Yeah 3 of my relatives told me that HR Block had short them a few hundred bucks, after another preparer did thier papers again and found out they should have recieved more, but HR Block said, "no well we sent your tax return already" i dont know if this is entierly true but I have been warned not to go to HR Block, and I dont know anything about tax filing, the only reason i wanted to go to a professional is because I am in college, i have a newborn, and well i dont know how to file my that form that colleges give you that list your scholarship and grants that may be tax deductible. Please tell me whats a good service that is not expensive.

2007-01-04 02:02:08 · 9 answers · asked by emo_rox12 1

We need to claim our mortgage interest and taxes, and are filing separately. Should just one of us claim all the interest, or can we split it up?

2007-01-04 01:51:04 · 3 answers · asked by pookie 1

I 'm still getting a bill from the 80s

2007-01-04 01:22:47 · 3 answers · asked by haditwithpc 2

2007-01-04 01:19:45 · 3 answers · asked by dndbohn 1

Is there anywhere on the net you can find a list of tax write offs that are allowable in the united states

2007-01-04 01:03:20 · 4 answers · asked by notalucky 2

I have an on-location sports photography business. I only do processing in my home.

2007-01-04 01:02:05 · 5 answers · asked by snapinaction 2

I have an older car I wanted to give my dad for free. I went to the DMV and put gift on the title and gave it to my dad to sign. Now the title is only in his name. Does this mean he'll owe some tax at the end of the year to IRS for capital gains tax?

2007-01-04 00:18:14 · 7 answers · asked by unhappy 1

She is on Medicaid. She is not eligible for insurance coverage under my policy.

2007-01-03 23:49:29 · 8 answers · asked by johnnastevens 1

2007-01-03 23:34:16 · 2 answers · asked by rache0116 3

i was told i could not use just a p.o. box to claim head of household, that i also had to give a physical address as well as the p.o. box. is this true and if so can you tell me why?

2007-01-03 20:09:24 · 3 answers · asked by Anonymous

I want to know how much rebate i can get on my tax if I pay my tution for last semester fall 2005 as well as my loan which i took for second last semester winter 2005 for loan my uncle co-signed since i was international student, i am working since May 06 how much rebate i can get on my tax, my loan plus tution was $16000 in total and i have proof of them, can anyone please explain me how i can get max. rebate and how it works

2007-01-03 18:35:19 · 2 answers · asked by sunny_brar 1

I get paid monthly, and well I want to file my income taxes tomorrow. I usually use my last check, I get paid the 15th of every month, am I suppose to use the check that I'm about to receive on the 15th of this month (January)? Or is it okay if I use the check that I received last year in Decemeber?

2007-01-03 18:13:12 · 7 answers · asked by Yvette 4

2007-01-03 17:30:31 · 3 answers · asked by Denrick L 1

2007-01-03 16:58:20 · 13 answers · asked by dld542002 1

It doesn't seem like I had Federal Income Tax taken out. I made $5856.00 and only had $155.00 federal tax taken out. How much earned income tax credit am I entitled to?
I did not receive a tax book this year--how is it determined who gets one and who doesn't?

2007-01-03 16:27:44 · 5 answers · asked by Brenda W 1

and have no dependents just me and my husband he just statrted getting social security disability.so i supported him this past year will i get anything back ?

2007-01-03 16:18:16 · 4 answers · asked by BIGL 4

had one company charging me sales tax (ToysRUs) and the item is being shipped of OH. another company isn't charging me tax (Rightstuf) and they're shipping from IA. so what's the deal? is one doing something correct and the other not?

2007-01-03 14:34:53 · 9 answers · asked by somedude 1

Can I still file as Head of Household? We basically share the custody, yet she may be with me a few more days a year.

2007-01-03 13:48:07 · 6 answers · asked by shelly 1

2007-01-03 13:40:41 · 1 answers · asked by tony t 1

2007-01-03 13:39:41 · 1 answers · asked by tony t 1

My company has East & West coast plants. I work east. We rotate a pager weekly for after hours parts calls & are paid $250 extra/week. We sometimes drive in to get a part. I asked one of my more experienced co-workers if I can claim mileage too. They said yes but it is limited to distance between home & plant. I submitted mileage & my manager rejected claiming mileage is included in the $250.00. I later asked a west manager & they said that it is not in the $250. I asked them about home to plant distance limit & they said it is up to what my manager feels is reasonable. My paycheck is $250.00 higher on pager weeks and is taxed accordingly. I told my manager they can’t tax mileage pay and he didn’t bend, he told me that he was not going to tell me how to do my taxes. What should I claim on income tax? Should I go back and ask them to minus out mileage & correct the overtax for mileage expense? Has something illegal occurred? Can some one please give me some clarity here?!

2007-01-03 13:31:30 · 2 answers · asked by Anonymous

I live in Mississippi. I worked at a fast food restaurant for about 6 months last year(2006). I was 16 when I started and turned 17 in September. I started when they opened in May and quit in November. I started at minimum wage and got a raise $.60 after 3 months and ended with that pay. On all of my paychecks they took out Federal Witholding, Social Security Employee, Medicare Employee, and MS-Witholding. Also I need to know any forms that they are supposed to be giving me. Thanks.

2007-01-03 13:31:22 · 3 answers · asked by gtavcking 3

My sister had a mix up with her taxes last year, she brought in her last paystub to Jackson hewitt and based on that a bank gave her a loan that was to be taken out of her taxes (basically she just got the money quicker) anyways her boyfriend went to a different place with his W2 and they asked him for their kids SS numbers, he didnt think anything of it, so to make a long story short he ended up claiming their kids and she ended up not getting anything back in taxes (she had to pay since only one person can claim the kids) so now she owes this bank the money, she has been trying to pay it off but she is very strapped for cash, when she files this year for her refund is it legal for the bank to just take the money? ( since most of the tax preparers in our area use that same bank) She really needs her refund, do you think that they will take her money?

2007-01-03 12:45:14 · 5 answers · asked by Anonymous

2007-01-03 12:39:43 · 7 answers · asked by Anonymous

in 2008, if you are in the lowest tax bracket, your capital gains will be taxed at 0%. My question is whether the amount of the capital gain realized matters in this scenario. If one had a large capital gain, would it be possible to pay the 0% federal tax on it if their wage income still left them in the low tax bracket?

2007-01-03 12:35:39 · 2 answers · asked by Jonny Chicago 2

I recived a notice of Deficiency for my tax return of 2005. so I owe $5,000. Im signing a deficiency waiver, I will be making monthly payments. but will I still be able to receive a return for 2006?

2007-01-03 12:30:17 · 3 answers · asked by joanne 2

My mother in law moved in with us 2 years ago and has been giving us $200 a month to help with food and bills. Do I have to claim this as income?

2007-01-03 12:00:20 · 8 answers · asked by lbrooks1110 2