United States - February 2007

Are either one of them a feasible alternative to the current, very complicated system?

2007-02-18 15:46:38 · 3 answers · asked by not yet 7

i already filed my taxes but did't wait on my other 3 w-2s is there a way i could file again

2007-02-18 15:37:12 · 6 answers · asked by toni m 1

A family that I know just got their taxes filed. They are a low income family (less than $20,000 yearly), and they draw food stamps. They have two children. Obviously they didn't pay out a whole lot in taxes because they didn't make it to tax. Still their return was for approximately $6,000. That's not a typo!! My question is how come families that earn a respectable living, do not bum off of the government, and pay out the butt in taxes always run the risk of getting hammered come tax time?

2007-02-18 15:20:43 · 5 answers · asked by whosaysdiscoisdead 4

Is this the correct formula for the tax deduction:
Tax rate of 38.5% times all the mortgage interest I paid in the past year?

Also, If I owe $100 in taxes but my deduction is $125 (based on formula above) does that mean the govt. will send me a check for $25?

2007-02-18 15:20:24 · 7 answers · asked by KL 1

This year my friends, who all earn about the same amount of money as me, all got hundreds, if not thousands, of dollars back from tax returns. But every single year I get a total of like $4 back. The people at H&R Block told me I am probably getting a lot less money taken out of each paycheck and it's all evening out in the end, but upon comparison with friends, we're still getting about the same amount taken out each paycheck. Why am I always getting screwed over?

2007-02-18 15:05:57 · 13 answers · asked by G-Lanz 3

out, can I deduct that on my taxes, even though I'm not giving it to an official non-profit?

2007-02-18 15:05:13 · 6 answers · asked by It's Me 5

to get your taxes done by someone? do you have to pay a % or is it a fee or what? H&R Block or Jackson Hewett? is there a differance? i need to get my taxes done for me this year. what should i choose

2007-02-18 15:03:35 · 5 answers · asked by herekittykitty_07 2

My daughter did some babysitting in 2006 for a neighborhood kid. The parent of the kid just called asking for my daughter's SSN, or address, etc. so she can claim what she paid my 16 year old daughter. She says she can only claim what amounts she paid by check, which by her estimation, is about $600. She also assures my daughter that it won't matter to my daughter because she probably didn't earn enough to have to pay taxes.

Tell me what you think of that. I'll have to call our accountant tomorrow but I am wondering what people think about it tonight!

I doubt the parent. I don't think my daughter worked enough to earn $600. Also, shouldn't the parent provide my daughter with some sort of form/statement of what she is claiming she paid in a year?

2007-02-18 14:51:28 · 4 answers · asked by ssssss 4

What is the maximum amount a person can make per year for a parent to still claim them as a dependent?

2007-02-18 14:51:20 · 5 answers · asked by ElliotCU13 1

My children's father usually claims our children on his tax return, however we discovered that someone else has done so illegally.What if anything can we do to get the money we are owed and see to it that this doesn't happen again?

2007-02-18 14:48:42 · 7 answers · asked by Laurelle 1

2007-02-18 14:42:00 · 3 answers · asked by ray h 1

I do not know where i need to go online where i can file a 2005 state tax return when i did not complete one in the time alloted for 2005.

2007-02-18 14:39:42 · 5 answers · asked by Just Curious 1

Is there such a thing?

2007-02-18 14:12:47 · 4 answers · asked by Heart 1

2007-02-18 13:56:47 · 4 answers · asked by tussy 1

social security number?what do I need to know?

2007-02-18 13:40:30 · 2 answers · asked by Terri L 2

A friend wants to know how much He will keep if he wins $55,000 in the lottery. He also likes gambling and says that the 40% rule should hold true for lottery winnings as well. That is, that if you are honest and pay taxes on gambling income, you should save about 40% of it. Is this true? By the way, He lives in North Carolina and that income would possibly bring his makings for the year to 70-80k (tax bracket information).

2007-02-18 13:37:58 · 4 answers · asked by sam 1

I rolled over a 401k from a former employer to my IRA in 2006. The 401k was a straight stock purchase plan, w/o any employer contribution. I had invested about $6000 in the plan, and when I did the rollover, the value of the 401k had gone down to around $4100 due to a drop in the company's stock price. Is there any way to take advantage of this loss when filing my 2006 taxes?

Thanks!

2007-02-18 12:59:46 · 5 answers · asked by jcvermont 1

My son married a russian girl, and with her came her parents, they are 59 years old, don't work, have no income what so ever, live with my son etc... their daughter claimed them as dependents last year before she married my son.. just seems odd that you can write two able bodied adults off on your tax return ... I know that you can't claim children after a certain age, I would think the reverse would hold true for parents, maybe you could claim them AFTER they turn a certain age.. they are not citizens of the US. Does anyone know about how this works? Thanks...

2007-02-18 12:58:00 · 5 answers · asked by beemersbox 2

2007-02-18 12:37:07 · 1 answers · asked by James 2

do I need to send them copy of my real state taxes (home taxes),
401K , or something else??????

2007-02-18 12:27:12 · 2 answers · asked by gutembertp 1

2007-02-18 12:00:03 · 6 answers · asked by Dolly R 1

2007-02-18 11:28:43 · 7 answers · asked by jason j 1

2007-02-18 11:28:02 · 7 answers · asked by Mike G 1

I e-filed on internet last year and I lost copy. Tried to revisit site but no luck.

2007-02-18 11:21:32 · 5 answers · asked by James M 1

My mother and brother are both disabled they get SS and are both on Medicare disability. My mother is physically disabled and my brother is mentally disabled. They live together but I have paid more than half of their living expenses since my step father died in 2005. Can I claim them even though they live in a different household, will me claiming them effect their SS and Medicare disability. Thank you.

2007-02-18 11:17:43 · 7 answers · asked by independentwoman26 1

I own a home in NC and have no debt against my primary residence. I would like to purchase a second home in SC. The cost of the home will run about $500,000. I have cash for the purchase but I also understand that from an after-tax standpoint, I might benefit from having some debt against the house if I am able to deduct the interest expense. I want to know the maximum amount of debt I can take out and have the interest be deductible. I am also thinking about borrowing against my margin account to purcahse a more expensive house.
Please advise.

Please list where in the Internal Revenue Code Section your information comes from and also cite an court cases you reference to or use.

2007-02-18 11:15:54 · 4 answers · asked by mrtaxtips 2

I never filed my 2003, 2004, and 2005 tax return. I owed about $200 each for '03 and '04, and I think my refund for '05 would cover the previous 2 years' debt. I will have a large refund for '06. How do I handle this situation?

2007-02-18 10:57:39 · 5 answers · asked by FixMan686 1

2007-02-18 10:38:58 · 5 answers · asked by Buck175 1

I live in Orange County, California and just got offered a new job for $42,000/year. I looked up the IRS tax bracket and figured that I would pay about $7,058 annually in federal taxes (I am single with myself as a dependent, don't own any property or have any capital gains.)

I was wondering if anyone could tell what other taxes I would owe on the Federal/State/local level, and approximately how much I would be bringing home after tax per month.

2007-02-18 10:35:52 · 2 answers · asked by Anonymous

We pay the busboys,bartenders,hostesses,dishwashers,expos,and backwaiters 3.5% of our total sales every day. Some times it comes out to be $45 a shift. Is there anyway to claim this as a business expense. It comes right out of our tips for the day.

2007-02-18 10:25:36 · 4 answers · asked by Casey V 1