United States - March 2007

2007-03-18 14:28:14 · 6 answers · asked by fantozzizoo 1

2007-03-18 14:17:57 · 6 answers · asked by Denise B 1

I couple of related questions:

1- Is there a formula that is used to calculate federal tax that is going to be whithheld from every paycheck? I understand it is based on W-4 form enteries, frequency of the paycheck (weekly, biweekly etc) and the tax bracket related to the taxable income but can someone please tell me what that formula is in terms of math denotation/expression? e.g. tax to be withheld = a x b/xy where a, b, x, y are various variables and what those variables are.

2- When Fed tax is withheld, is it withheld against the gross income for that period or the gross income minus FICA (ss and medicare tax) and/or medical health insurance premium? I understand that in case of 401k contributions, gross income minus 401k contribution = taxable income, which is then used to calculate FICA and so on. Similiarly, is state tax withheld against the gross income or gross income minus fica minus fed tax?

Thanks in advance.

2007-03-18 14:13:03 · 4 answers · asked by Azhar 1

Basically I know I will end up getting back my federal and state taxes because I'm military and only my monthly pay is taxed and my BAS and BAH is not. So when it comes to tax time I get it all back. I am married with 3 children and my wife does not work so I know I get everything back. I heard you can claim up to 10 and when you file claim you real amount and not get in trouble. Basically so you get it all back in your paycheck and not give the government a tax free loan for the whole year and give it back to you doing tax time. Is this true?

2007-03-18 13:54:20 · 3 answers · asked by Anonymous

How do I do that?

2007-03-18 13:51:22 · 2 answers · asked by kliled 2

...I don't have the money to pay it. What is the best thing for me to do? Should I call them, and try to make payment arrangements, or should I file an extension and try to pay it back later? I know paying it back later will incur penalties, but I'm really not sure about the best thing to do here. Please help me out.

2007-03-18 13:27:45 · 6 answers · asked by Cady 2

Such as donations to the Jimmy Fund, Salvation Army, and other nonprofit organizations.

2007-03-18 13:23:55 · 11 answers · asked by Andrew 4

Hi
Me and my wife are new to USA and since she is not working she does not have a social security number. For filing taxes either separately or jointly all tax softwares (Turbo, HR etc) ask for the spouses social security number.
Since I dont have that I am not allowed to file fed return online.
Is there a way I can file online, what social security number should I enter in case I need to enter a dummy number ?
Thanks

2007-03-18 12:54:10 · 5 answers · asked by handu 1

I am wondering if i filed my 04 W-2 Fedral tax return does anyone know if i can find out. And if there is a way for me to get my 05 W-2 sheet cause mine was lost when i was moving

2007-03-18 12:52:22 · 2 answers · asked by Rocco A 1

I received 1099-MISC, reporting $15.11 in royalties (box 2) from a company that sold a copy of my dissertation. My all other income has been reported on W-2. I am not sure if I need to report this $15.11 income at all (since it is less than $600) and just go ahead and file 1040EZ, or if I need to report it and file1040. If so, should I use schedule C or schedule E (see 1040 instruction on where to report royalties)? I do not run a business and there were no expenses involved since the dissertation was written some years back. I understand I wouldn't have to file schedule SE since the income was less than $400. Is this correct? What forms would I use to report the royalties for California income tax?
Also, the irony of all, I actually never received the check (for $15.11) and the company is issuing it now... (should I worry that they might issue another 1099 next year for the same amount?) . Any help will be very much appreciated.

2007-03-18 12:43:03 · 6 answers · asked by Kris 1

Does anyone know how to fill out a 1099 form?? I read through all of the forms I have and I am lost. Or even a website with information about it. Google didnt really help me, maybe I was looking for the wrong thing? Thanks!

2007-03-18 12:39:52 · 4 answers · asked by JERSEY GIRL 2

Here's a complicated one.

My daughter on the last day of Jan 2006, ran away from home. She said she didn't want to come home, so the State decided to keep her (no abuse, she just didn't want to come home). She's since been diagnosed as bipolar and is receiving treatment. She turned 17 in February 07. My wife and I pay child support to the state.

So the question is... How do I treat this? Having only been in the home a month in 2006, Is she a dependent I can claim? We pay the state child support. If I can't claim her as a dependent, can I claim the child support payments? If I can claim the payments, does that include payments charged against me in 2006 or only what's been paid in 2006? It took them six months to set up the payments, so now we have back support to pay as well.

Thanks to anyone who can help.

2007-03-18 12:36:09 · 8 answers · asked by MarriedWithChildren 2

Last year, I rolled over the funds in two 401ks (from previous employers) into my current employer's 401k. I.e., I just went from 3 plans to one. I didn't keep any of the funds, etc.

I received two 1099-R (from the plans I closed). Do I have to report this?

I'm using TurboTax, but didn't see a prompt. I'm thinking maybe I don't, but having the forms & not doing anything with them makes me nervous. :-)

2007-03-18 12:18:55 · 8 answers · asked by Bill 2

2007-03-18 12:15:07 · 2 answers · asked by shayyucker 1

I had to pay additional state tax to CA in 2005 for the amount I owned in 2004. But I forgot to claim it in my 2005 tax return deduction. Can I do it in my 2006 now, or I have to file a correction for 2005? Thanks.

2007-03-18 12:14:19 · 6 answers · asked by Sean 2

I bought a $3,500 computer in 2004 for personal use. In 2006 I started a business and converted it to 75% business use. When filing for my small home business taxes, can I deduct the value of my computer? I have never claimed it as an asset before, and have not ever depreciated it. What should I deduct and depreciate?

Using Turbo Tax, and it has confused me. Thanks.

2007-03-18 11:55:55 · 6 answers · asked by Jimmy John 2

can I still receive my refund before the discharge?

2007-03-18 11:49:13 · 3 answers · asked by susan e 2

I know there are income limits on contributing to *Roth* IRA. I also know there are income limits on *writing off* a contribution to a Traditional IRA. I'm not asking either. I'm asking are there income limits on making a contribution to a Traditional IRA?

2007-03-18 11:48:35 · 4 answers · asked by Bill 2

I just got my taxes done and the accountant who did them told me he couldn't e-file them because I didn't file taxes last year. I didn't file last year since I had my own business and didn't really make any money. Then he kept stressing that if I get a letter from the IRS saying I owe money that we will figure out then what to do. Could he really not do an e-file for me since I didn't file last year? Or is it that he tried to e-file and it is coming up that I owe taxes to the IRS?? Can anyone help me?

2007-03-18 11:47:08 · 3 answers · asked by k_artiaco 1

My previous employer that I worked with for only 6 weeks last year has not given me my tax information. I have tried contacting my supervisor and no response. I filled out a w-9 since it was sales and I was a sole proprietor. I plan on going to HR block next week to do my taxes. Am I able to give them how much I made(I know it from the check receipts) Plus my deductions from the job? Any help will be greatly appreciated

2007-03-18 11:24:11 · 5 answers · asked by Jay Dee 2

their kids. The kids are at her house at least 4 days a week. She pays for the medical care, all clothes, band instruments, lunch money for school, shoes etc. The X provides a place to live. Won't even buy basic necessities. They agreed that last year he would claim both dependents and this year she would claim them. They have two older children who work and claim them selves. She has already filed her taxes this year and now he said he is claiming both kids. What happens if he does. My friend can prove that she has paid for over 60% of their support.

2007-03-18 11:07:39 · 8 answers · asked by van 2

2007-03-18 10:36:59 · 7 answers · asked by Solace 2

(age 68)worked for the city of dallas for 20+ years, he is recieving his pension but was told by ss that he does not qualify for benefits because the city of dallas never deducted any from his payroll, is this possible? He would file for his taxes every year though.

2007-03-18 10:29:07 · 10 answers · asked by julopez12 1

I made about 12,500 on the books last year. i tried to do my tax return online and it says I owe around 375 dollars. that cant be right. They already took out about 800 dollars in taxes, what the poverty line as to where one does not need to file for taxes.

2007-03-18 10:10:37 · 4 answers · asked by nailz 2

I know I can write off expenses related to a job search. I was searching for a job for two months, and during that time, I racked up $400 in cell phone calls (phone interviews, voicemail). However, I have personal calls mixed in as well. Can I write off the bills for the entire two months, or only the specific phone calls I made?

2007-03-18 10:03:47 · 3 answers · asked by Shasta McNasty 2007 2

My wife and I had our taxes prepared at H&R block. We are 23 and 22, bought a home in November and had 53,000 in w2 income for 2006. Everybody told us that we would get a big refund, being that this was our first year being married, having school loans and a house... Well, we owe 1,500 in federal tax plus 500 in state/local taxes. I expected the state/local bill, but the federal was a bit of a suprise. How can I go about checking to make sure there was not an error? We just dropped our stuff off and then came back to sign the paperwork.

2007-03-18 09:47:38 · 4 answers · asked by argylekilla 2

I need help in accounting for some Series EE bonds I had cashed in in 2006 on my federal tax return. There were various bonds I had that were originally issued between 1983 and 1986. From the bank I cashed them in at I received a "Statement of Interest Paid for Redemption of US Savings Bonds", but not a 1099-INT. This statement shows the breakdown and total Interest I earned on the bonds. Should I just assume that statement I received is the 1099-INT? I am planning on using that information to include in my Interest Income section, but am not sure if I should have received a 1099-INT as well.

Does anybody have any information to help me out?

2007-03-18 08:30:44 · 1 answers · asked by bbjay20 2

** Several years ago, $1000 has to be the minimum amt that a judgment could be filed in the state of Ohio. It's for a medical bill of 200 but they've added addt'l $ to the balance to the tune of 317.61 and have now filed a judgment. Thank you!

2007-03-18 08:23:14 · 1 answers · asked by Seal B 1

I bought something from BestBuy in LA (where tax is 8.250%) and returned it in Vacaville (where tax is 7.375%). They technically did not give me a FULL refund as noted in their return policy because they gave me a refund for COST OF PRODUCT + VACAVILLE TAX BRACKET, not COST OF PRODUCT + LA TAX BRACKET. They skimmed me on tax. It's only a relatively small amount of money, but is this legal?

2007-03-18 08:18:48 · 2 answers · asked by Anonymous

2007-03-18 07:54:42 · 7 answers · asked by Anonymous