United States - March 2007

2007-03-21 18:31:24 · 3 answers · asked by Lane 1

I’m the lead singer in a band & I handle the business side of the band as well. IE: collecting payment & paying the band members.The money we make is split even between us, I do not wish to pay the whole bands tax, just the amount I personally took home, how I record what I pay each band member so they have to pay there own taxes?
Thank you for your help!!!

2007-03-21 18:24:13 · 3 answers · asked by scott w 1

What can I do if one of my dependents already filed and mailed his tax return and he stated that nobody could claim him as a dependent. He stated this by mistake since I can claim him as a dependent. Is there any way to fix/amend this error?

2007-03-21 18:05:54 · 4 answers · asked by Evenkeal 1

I know this is a weird question that I should probably know the answer to, but I have efiled for years and didnt this year. So what type of envelope do I use?Do I fold the return into threes and put in a regular envelope please help!!!

2007-03-21 17:16:43 · 5 answers · asked by Anonymous

I make 63500 k and I have 39000 in an IRA that I would like to convert it to a Roth. My taxable income was 33056 this year and I will get about a 3% raise. I don't want to have the conversion bump me up to higher tax bracket. How much can I convert?

2007-03-21 17:00:49 · 4 answers · asked by MtN_BkR 3

My husband is a truck driver - over the road, not local. I've already filed our taxes for this year, however, after talking to other truck drivers, Im wondering if I should refile - Reason being - I didnt claim anything for his truck driving; i.e. meals, sleeping in his cab while away from home, etc. I dont want to pay a professional to do my taxes, however, I cant find that much info. on truck driver's taxes. Does anyone know how to find free info. on this? thanks so much.

2007-03-21 16:44:59 · 6 answers · asked by Mary S 1

ok this is hypothetical but lets say there's $2000 made last yr, theres $100 fed income tax witheld, $100 soc. security tax witheld, $20 medicare tax witheld. Single, not claimed by anyone nor claiming anyone, between 21-24yrs old. How much return would come from this?
and the service is free of charge.

2007-03-21 16:43:10 · 2 answers · asked by Anonymous

I need to know this for my taxes. Wisconsin told my mom that it was tax free....sooo, i need to know definatley.

2007-03-21 16:05:06 · 2 answers · asked by scott k 1

I moved in late April-early May of 2006. Which address do I use for my tax refund, my old address or the new one?

2007-03-21 15:52:17 · 4 answers · asked by star2003usa 2

I am 20 years old and I still live at home with my parents and they also pay for my college. What is the income amount that does not require me to file an income tax return? If I made $14,000 that year, would I need to file an income tax return?

2007-03-21 15:48:10 · 5 answers · asked by Anonymous

I am an American who has moved to Japan. I have owned stock since before moving to Japan. I moved here several years ago, and kept my stock without realizing any of the gains. This year, however, I realized some of the gains.

The company I use to buy and sell stock is based in America. Do I pay capital gains taxes in the US? I've heard conflicting reports. I've been told that I would pay in the US, but I don't know how to do this. Especially since I have no income in the US.

Another issue is I am married, and since my spouse and I got married in Japan, and have never been to the US, she has no social security number.

Anyway anyone who has any information they can help with, or someplace I could go for information, please tell me!

2007-03-21 15:25:30 · 2 answers · asked by Kevbomeister 2

I invested some Roth IRA money in an ETF. The ETF sent me a schedule K-1 which shows income/losses/etc. Do I need to include the information on this K-1 in my taxes, or can I disregard because of the Roth IRA? thanks.

2007-03-21 15:19:20 · 3 answers · asked by Anonymous

Is it treated like interest from an investment on the Schedule B?

2007-03-21 15:11:06 · 5 answers · asked by Teddy S 1

without the persons S.S. number. I would have to ask the person for their social security number.....Don't sound like a good idea to me.

2007-03-21 15:04:01 · 2 answers · asked by amanda b 2

I am an international student at a university (F-1 visa) and I give tennis lesson on the side. That means I'm getting paid under the table? I make about 1000$ per month. How do I report and pay taxes on that? Should I?

2007-03-21 14:45:18 · 4 answers · asked by abqlobo 1

I am still waiting for my 2006 W2 Form from my employer! and it's already March 21st! But last year, I lost my W2 Form (the 2005 one), so I didn't get to file it. Now, I found the W2 form I was supposed to file last year. Can I still send it in? I was supposed to get a refund... I also know I should get a refund for the W2 form I need to file this year... but now I just have two forms and I'm just not sure how to do this... Please help.

2007-03-21 14:42:26 · 4 answers · asked by Anonymous

What is the minimum income required for filing state and federal taxes?

2007-03-21 13:59:48 · 3 answers · asked by ginnyp82 2

I worked in PA for the entire 2006, and was deducted PA state tax and Philly city tax for the entire 2006. Question is I moved from PA to NJ at the end of April of '06, i.e., I am a PA resident for 4 months and NJ resident for 8 months.

Am I supposed to ask for the 8 months of tax refund from PA and pay 8 months of NJ tax? When I am ready to fill the PA part-yr resident tax form, I find that I was "subject to PA tax on all income earned, received or credited from PA sources for that part of the year EVEN when I was a nonresident".
http://www.revenue.state.pa.us/revenue/cwp/view.asp?a=3&q=203451&revenuePNavCtr=%7C

Is it true? Why cannot I split my tax into 4 months n report that portion for PA tax only? No where explicitly explained how to split for part-year resident in PA, so I am confused. Thanks for your answer and help.

2007-03-21 13:36:11 · 2 answers · asked by phillymm 1

2007-03-21 13:30:41 · 4 answers · asked by Kathy S 1

I was wondering if I could claim my sister as a dependent when filing my tax return. We are both from Mexico, she is a student (F-1 visa), and I work for an US company (H-1 visa).

These are the following facts:
1. Nobody else is claiming my sister since our parents
live in Mexico.
2. She does not live with me.
3. She makes less than $3,300 a year.
4. I paid for all her tuition, plus board, room and books
during 2005 and 2006. (She got the 1098-T Form from her college)
5. We are both Mexican Citizens.
6. She is 19 and a full-time student.
7. I am filing as a single person.

I was told that I need to be a US citizen in order to claim somebody as my dependent.

If I am eligible to claim her as a dependent, can I get the "Hope" or the "Lifetime Learning" credits?

2007-03-21 12:29:04 · 5 answers · asked by Evenkeal 1

I am filling in my 2006 tax return by Turbo Tax on line. This is my first time to use this program. I was so surprised finally I got a negative return which means I will have to pay more tax. Is it normal?
I am married and submit the tax return with my spouse jointly. We bought a home last year and are still paying our mortgage. So we suppose we can get more return this year.

anyone has some comments?

2007-03-21 12:02:09 · 9 answers · asked by nnanppg 1

2007-03-21 11:54:33 · 5 answers · asked by james_santos4 1

I am neither a US citizen nor a green card holder. I came in as resident alien (MNC) on work visa and have funds in 401k account. I have been transferred to a country where there are no income taxes. They have a similar 401k plan (however no tax). Will I be able to rollover all my US 401k funds to my new account without any tax impact in US? In my next year there will be no US income and I guess I don't have to file return (since I am not a citizen or PR). Would it help if I withdraw or rollover next year?

Has anyone seen this done or done for themselves? Thanks for your time and any answer.

2007-03-21 11:51:41 · 3 answers · asked by If_in_doubt_ask 1

the school district number they ask for when filing a state tax return. i'm in iowa. I've already looked on the irs and iowa revenue sight, please give me a specific link if possible

2007-03-21 11:51:37 · 2 answers · asked by gypsy50309 6

I already got my income tax via direct deposit, but I told someone, who lives with me, that I suppose to get it through the mail and to watch out for it, now I need to make a fake brown envelope and a check from the treasury - please help me, NO SARCASTIC ANSWERS!!!!!! PLEASE

2007-03-21 11:51:34 · 4 answers · asked by Anonymous

I didnt pay sales tax from jul 06 to dec 06 in Nebraska. and i lost last year around 25,000 from my business. i didnt made any money from the business. still i have to pay state sales tax ?if yes how much time i have to pay last years sales tax? i filed tax return to IRS showing the lose. and i am shutting down the business next month.

2007-03-21 11:35:40 · 3 answers · asked by teejay 1

The nation's average return is $ 2,500 according to money.com.

http://money.cnn.com/2007/03/16/pf/taxes/refunds/index.htm?postversion=2007031910

Why am I only getting under $ 150.00 ?

2007-03-21 11:11:29 · 8 answers · asked by Geeeyaaa 4

Let's say someone is going to College full time and drawing the maximum amount per month, or anything from the G.I. Bill for that matter...is that considered income for tax purposes?

2007-03-21 11:04:18 · 4 answers · asked by Middy S 2

We did not make much money last year, so we do not want to pay a CPA to do our taxes. I would like to use TurboTax or Tax Cut to do our taxes. Which one am I supposed to use? Home & Business? Thank you.

2007-03-21 11:02:28 · 2 answers · asked by Me 2

I have 3 kids and my husband and I are trying find a way for me to quit working to be a stay at home mom. The only way we see that it will be possible, is to lower our overhead by selling our huge house and downsizing.

My question is, how hard will we be hit during tax time because of this? Since we have always had the interest to claim on our taxes we have always gotten money back and this year we added another baby, but I am unclear as to how "renting" and not "owning" will affect us.

2007-03-21 10:54:24 · 5 answers · asked by CeciGirl 1