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United States - February 2007

[Selected]: All categories Business & Finance Taxes United States

2007-02-05 06:27:08 · 4 answers · asked by sylvia s 1

I filed my taxes and am set to receive a return. Problem is I just received a 1099 for around $40,000 from a 401-K that I cashed out last year. Will the IRS they just send me a bill or do a HAVE to amend? Thanks.

2007-02-05 06:21:22 · 6 answers · asked by Tom T 1

I heard in some states you do not have to pay taxes on the first $-250-500k of gains if you sell your primary home for more than what you purchased it. I was wondering if that is still the case if it is your secondary home. If not, would it be more advantageous for me (in a tax perspective) to sell my primary home first, then my secondary home?

2007-02-05 06:07:01 · 3 answers · asked by dood 2

Also, any idea how I figure my IRA basis? Is that the amount contributed to a tradtional IRA for previous years?

2007-02-05 05:52:09 · 5 answers · asked by olgadabest 2

2007-02-05 05:49:52 · 5 answers · asked by louise l 2

I'm about to move to the US and would like to understand how it works. Which are the taxes ANYONE has to pay no matter what? What are the LEAST expensive states? WHAT DOES "TAX-DEDUCTABLE" actually mean.... quick explanation for a blonde, thanks =)

2007-02-05 05:46:39 · 2 answers · asked by Anonymous

I claimed 0 on my w4's with this employer and did not know until I went to file my taxes and I owed a rather large amount that they had taxed me 2 for fed/ 1 for state. I'm not sure what to do. my previous employers are being less then helpful. I can't find anything online about how to go about handling this situation. All advice/tips/laws/anything is a help.

2007-02-05 05:34:17 · 6 answers · asked by Anonymous

one income is higher than the other. Inorder to adoid paying at year-end or get refund, is filling married or filling married but hold with a higher rate help for both of us. Please explain to me what we need to do on both of our w-4.

2007-02-05 05:31:52 · 1 answers · asked by Anonymous

I turned 24 in June of 2006. My parents paid for 6 months of school (full time) and in turn I ended up graduating in June as well. I started a new job that same month and in September I moved out to the guest house that we have in the backyard. I meet 4.5 of the criteria that seems to be listed, but since I turned 24 in June of 2006, am I no longer able to be claimed as a dependent? (I made over 20,000 in the time I started a new job in June)

2007-02-05 05:31:49 · 4 answers · asked by Kyle K 2

my father passed away in 1999 , now my mother is going to sell their home which i assume was jtros . does the cost basis of half the house get " stepped up basis " as to capital gains to my mother . thanks

2007-02-05 05:28:02 · 2 answers · asked by Anonymous

Hello-
I bougth a house in 2006 and on the closing costs worksheet I got back from the title company it shows the property taxes for 2005 that were not paid by the seller.
They say UNPAID by SELLER..
I paid my taxes already so can I write off theses taxes also.
My thought is if it's unpiad by the selller then it was paid for by me so can I write them off this tax season?
Thanks for helping a newbe out!

2007-02-05 05:26:40 · 3 answers · asked by Anonymous

2007-02-05 05:24:44 · 5 answers · asked by FEDUCCINO 1

I'm having issues with our W-2 forms for each employee. The #1 Wages, Tips, Other Compensation does not match #16 State Wages, Tips, Etc.

2007-02-05 05:04:53 · 3 answers · asked by pulchritudinous 6

my stepsons girlfriend was taken from her mother & put in something that is simular to juvinile hall. she is in school but has a job. she is now out of this place & living on her own. her mother has nothing to do with her but wants to claim her on her taxes. can she do that even though her daughter did not live with her? what if the mother files before the daughter, will the daughter get a refund? i do not believe she is 18 yet.

2007-02-05 04:55:38 · 13 answers · asked by peaches 1

I just got back my tax intersted and we just bought a house last year.
My stub says
Box 1. Mortagage intersted recieved from payers borrowers
$7,698.61
Box 2. Points paid on purchase of principal redidence
$1,700.00

Total intersted applied 2006 $7,698.61

Which is the intersted I am allowed to write off??

Thanks!!!

2007-02-05 04:48:17 · 4 answers · asked by Anonymous

Ok, so I'm going to owe the IRS a few grand this year. I have a couple of grand in savings but that's it. Can I make payments? Do I have to wipe out my savings? Should I prepare to go to jail? Any help would be appreciated...

2007-02-05 04:46:03 · 13 answers · asked by jgain 3

I have never done payroll where I have to figure out how much the employer owes for each pay period. I have figured out what the deductions are for the employees, but not for the employer. I think I read that it differs from company to company depending on the size of the company. Small and new companies pay less than well-established large companies. We are a small company in California with 2 employees (the other 2 people in the office are independent contractors). Can someone please help me figure it out?
Also, does a pay stub need to be attached to each check? And if so, can you just enclose a piece of paper with the check that shows all of the employee withholdings?
Lastly, I was misclassified as a Independent contractor last year and need to file a 1099 and my boss hasnt given it to me yet. I think I read that he was supposed to give a 1099 to me by Jan 31st. Will I be assessed a late fee??

2007-02-05 04:44:12 · 1 answers · asked by Swu 1

I filed with Turbo Tax,but kept getting rejected because of the prior year's Adjusted Gross Income. So I have to file by mail instead of
electronically.

2007-02-05 04:42:45 · 4 answers · asked by sabre74@swbell.net 1

I have not gotten one. Is everyone suppose to get one or is it only for specific people?

2007-02-05 04:40:48 · 3 answers · asked by Anonymous

Are home improvements tax deductable

2007-02-05 04:40:30 · 3 answers · asked by crzmum03 1

How do I decide if I need to file State Income Taxes for Tennessee along with Federal Taxes on my tax return?

Thanks

2007-02-05 04:35:31 · 2 answers · asked by nathanscottb 2

Do you have to include every little penny that you earned in interest? The reason I ask is because I didn't make even $20 in interest.

2007-02-05 04:35:27 · 3 answers · asked by crewcap2003 2

I've recently filed my taxes and apparently my dad tried to claim me as a dependent, but I don't believe I am. I am 19 and have not lived at home in 2 years. I make my own money and don't get much assistance at all from my parents. He does loan me money sometimes, which I have to pay back. I know if you are a fulltime student, you can be considered a dependent. But, I did not go to school last semester. I'm back in this semester though, and went a year ago. Am I a dependent?

2007-02-05 04:31:45 · 4 answers · asked by Jason Vanderkoff 2

Who do I contact to turn them in?

2007-02-05 04:26:50 · 6 answers · asked by Anonymous

My situation: I joined the company 401k plan in the mid-December 2006. Which I thought will start from beginning of 2007. However, my company started draw the money immediately and I didn't notice until I got my W2 form recently. The 401k deduction is only $769 for year 2006. I have already put money on my IRA account which I can put $5000 for 2006, I'm 50 years old. Based on the IRS rule, I could not contribute to IRA if I have 401k and have AGI more than $80000 in 2006 which I did. Is there any way that I can change the 401k contribution to non-deductible, so I can contribute to my IRA?

2007-02-05 04:25:38 · 2 answers · asked by vincentC 1

I am divorced and my daughter does not live with me but I pay 75% of her Day Care/Afterschool care costs, am I able to claim these?

2007-02-05 04:23:29 · 1 answers · asked by Tyrone S 2

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