United States - February 2007

2007-02-27 04:34:28 · 3 answers · asked by amina2276 1

My husband and I own a home and a piece of land that we intended to build on, and sell our house.
We have instead decided to sell the vacant land and our current home (lived in for 6yrs) and put a down payment on a house with the land profit money. My question is, will we have to pay a capital gain on our land profit if we are putting it back into the new house? If so how much will we be taxed on our profit?
Is there any way to avoid being taxed on the land profit?

2007-02-27 04:27:46 · 4 answers · asked by Anonymous

2007-02-27 04:22:05 · 3 answers · asked by jennifer_jackson14 1

must I file for IRS taxes if no taxes were taken from SSDI monies but taxes were paid through the house property taxes???

2007-02-27 04:19:40 · 6 answers · asked by Anonymous

I have contacted this employer numerous times regarding this issue and owner has refused to talk to me about it. I have also contacted the IRS and they are going to send a letter to the employer, but if the employer still refuses to send another copy? The employer sees this as a hassle.

2007-02-27 04:14:57 · 9 answers · asked by Heidi R 2

I am a bit confused as to what the difference is between a W4 Form and a W2 Form.
Some people are telling me, since I am a student and working part time, I should ask the employer to do a W4 from instead of the W2.

I am under 24, my parents still claim me on their taxes, and I am except. Does that help?

2007-02-27 03:54:16 · 6 answers · asked by guessgirl 2

I was told that as a sole proprietor owner I just file expenses on my own personal filing not as a business... any help from business overs out there?!?

2007-02-27 03:23:40 · 3 answers · asked by dustbaum 2

2007-02-27 03:16:32 · 1 answers · asked by Delores Victory 1

2007-02-27 03:15:06 · 18 answers · asked by barefootbabee 1

I filled about 4wks ago and still havnt got them back i called hrblock and they said it was pending review and should be done in the middle of march. Why would my state taxes be pending review?

2007-02-27 03:01:36 · 3 answers · asked by tajbug 1

2007-02-27 02:46:57 · 4 answers · asked by fhjccy 1

2007-02-27 02:42:15 · 4 answers · asked by Peaceful 3

not federal forms i know to use a 1040ez for a federal return. i need the nc state tax form?

2007-02-27 02:33:39 · 2 answers · asked by canice 1

The FairTax plan is a comprehensive proposal that replaces all federal income and payroll taxes with an integrated approach including a progressive national retail sales tax, a rebate to ensure no American pays federal taxes up to the poverty level, dollar-for-dollar revenue neutrality, and the repeal of the 16th Amendment.

This nonpartisan legislation (HR 25/S 25) abolishes all federal personal, gift, estate, capital gains, alternative minimum, Social Security, Medicare, self-employment, and corporate taxes and replaces them all with one simple, visible, federal retail sales tax – collected by existing state sales tax authorities.

The FairTax taxes us only on what we choose to spend, not on what we earn. It does not raise any more or less revenue; it is designed to be revenue neutral. So it is also cost neutral – the final cost for goods and services changes little under the FairTax. The FairTax is a fair, efficient, transparent, and intelligent solution to the frustration....

2007-02-27 02:28:04 · 3 answers · asked by Keith C 2

i submitted my taxes last night online and got a pretty good refund on the federal side and owed only $99 on the state side. i thought that was pretty good because i usually owe the state $700+. i just went back on HR Block just now and punched in the numbers again to make sure i did it right. after i punched in the federal section, it's asking me if i want to file state w/ HR Block and says that the average return for my income for 2005 was $585-620. i'm just worried now if i did something wrong because i owe $99 but it says the average person w/ my income got a REFUND of over $500. last night i was just happy that i only owed $99 instead of owing the usual $700+.

so, my question is, if i double check here and realize that i did something wrong to OWE money rather than to receive a refund, what can i do? is it too late to do anything?

2007-02-27 02:01:59 · 7 answers · asked by tom l 3

I did my taxes online yesterday and I just wanted to know generally when I can be expecting my check. My boyfriend agreed then when I get my check we can definitly get a puppy!!!!!! So needless to say I am very anxious to get my check!!!!

2007-02-27 01:52:44 · 8 answers · asked by bree_1384 2

Is it necessary for a business to obtain the Federal Tax ID# from its commercial customers for record keeping purposes? Is this true ? Source would be much appreciated. Thank you

2007-02-27 01:25:04 · 4 answers · asked by cappy 3

2007-02-27 01:04:28 · 8 answers · asked by cuba_7575 1

Hi there, I have wash sale related tax question - for example, Sold stock A on Nov 30th 2005, Bought and Sold the same stock at a LOSS on Dec 15th the same year. Therefore, it was a wash sale. There was no trade for the same stock in 2006. When can I report this loss for the tax purpose? Thanks.

2007-02-27 00:26:30 · 3 answers · asked by puzey 1

I filed a return in MA 2 weeks ago with 7,200 income paid in cash from babysitting in my home. I have now receivd a letter of intent to assess for MA DOR. Why and how should I respond? Also, I already received my federal return which was given due to Earned Income Credit. Is this going to be questioned by IRS also?

2007-02-26 23:28:40 · 1 answers · asked by quint2 1

I have received a notice of intent to assess from Mass. DOR. What is this and how should I respond? I babysit out of my home and get paid in cash.

2007-02-26 23:03:47 · 2 answers · asked by quint2 1

I started filing our taxes online on turbotax and it looks like I have run into a problem w/the states. My husband and I married in Nov, I am a resident of CA and earned all my income in CA, he is a resident of NJ but has income all from NY state. Neither of us lived or worked in the others state at all. I am filing our federal return as Joint in order to get us the most benefit/deductions even though we never lived together in 06, but when I went to file our state returns it appears as though it's a problem b/c it is saying I owe CA $340 when I dont believe I should owe based on my income/tax situation last year. Is it taking our joint income from the Fed return and assuming I didnt pay CA enough state taxes due to my hsuband making so much more? Anyone know how to resolve this when a married couple resided in 2 different states all year? Do we have to file our state returns as MFJ if our Fed return is, or can it be done separately?

2007-02-26 20:43:10 · 2 answers · asked by tmacccc 1

I am working now and I am under 18. I earn about $500 per month. So does my income would be added to my family's incomes?? Or if I am a full-time student, my income does not count. 'Cause my family have Medi-Cal. I am afraid if I work, my family's income would go over the income limits for Medi-Cal.


My family has 3 people. My father earns $500/ month. My mother earns about $600/ month. My income is $500/ month.

please help!!!

2007-02-26 19:57:41 · 6 answers · asked by phuong d 2

Can I get a Tax ID before the business is started? And if so, what type of payments or if anything will the IRS come after me for?

2007-02-26 17:56:28 · 8 answers · asked by Bri up 1

I was married 9-2006. We are filing separate returns. My wife has 2 children. Can she file single head of household for 2006. Can I file single head of household 2006. Can she claim the 18 year old? Any help is appreciated. We are taking standard deductions.

2007-02-26 17:48:34 · 6 answers · asked by Jay S 1

hi guys! just have a quick question. I was just wondering if the 12-3 am updating took place on sunday nite/monday morning or monday nite/tuesday morning? i efiled and all last tues (2/20) and i was told by turbo tax that it would be deposited on 3/02 i tried to log onto wheres my refund and its saying it cant be found...im not stressing to much...just wondered what was goin on and if i should go by those dates...its just a large return that i could really use right now since i lost my job..could the whole "delay" thing be affecting me also or is it just something that affected people for the 1/26 refund ?..i hope all of you 1/26ers get everything straightened out!!!!!! thank you guys for your help...this is my first year doing these so im new and ull have to forgive a stupid question.





(im not freaking out so please dont be mean im just new)

2007-02-26 17:37:19 · 4 answers · asked by twiztdlilangel 2

2007-02-26 17:31:10 · 3 answers · asked by sindi 5

as i was posting a question, i saw several people asking how long it takes for the IRS to come after you for unpaid taxes. like the person who posted who owes $1114 or so, what do they do when they come after u?

2007-02-26 17:06:15 · 8 answers · asked by tom l 3

in the past 3 years, i did my taxes online (hr block) twice and went to jackson hewitt last year. i'm a single male, rent, no military background, i don't expense anything (at least i don't think i do), no dependents, blah blah blah....................does it matter where i get my taxes done? a co-worker of mine is the same age and she recommended her accountant saying that she gets a MUCH bigger refund than if she went to HR Block or one of those places............but........she's married, has a kid, etc. being that i have such a simple "tax" life, does it matter where i go? or if i just do mine online?

2007-02-26 16:59:19 · 9 answers · asked by tom l 3

My parents visited me in 2006 for 4 months and stayed with me. Can I claim them as dependents for my tax filing? Can I apply ITIN for them as I got W-7 signed by them? Can the trip expenses shown to IRS?

2007-02-26 16:38:21 · 7 answers · asked by AK 1