United States - March 2007

Going to college in just over a year now. And I'll need to buy a computer. A friend of mine once told me that if my parents buy me one for school, it could be considered an education expense, and they'd get its value back in their return. I've taken a gander online, and i've had a hard time finding anything on any federal web site. Maybe it'd be a state thing? (Minnesota)

Thanks!

2007-03-30 07:36:23 · 1 answers · asked by Anonymous

Are there any Fed and Sates tax exemption amount for interest earned from saving accounts?

i.e. The bank interest will not be taxed if I earn less than x dollars.

2007-03-30 07:10:00 · 5 answers · asked by sel_bos 3

My dad's company files an income tax return in every state he sells to, but I don't think he's required to by PL 86-272. Is there a way I can figure out what makes a company have sufficient nexus in a state to be required to file an income tax return?

2007-03-30 05:22:55 · 2 answers · asked by texascajun82 2

As far as I can tell he was owed a refund each year. Can he file from previous years?

2007-03-30 05:02:00 · 11 answers · asked by Red 2

I misplaced my W2 forms like a fool, but will I get penalized if I choose not to file? I was a graduate student during the year if that matters.

2007-03-30 04:40:52 · 3 answers · asked by mush182000 1

Thanks for the answers all on my last post.
I will amend my taxes as advised but what is supporting documentation of My Income. I dont have alot of 1099Misc. I keep my records in Quickbooks. When I spoke with Ma. Dept of Rev on the Audit they said anything I print is no good that I need Bank Statements. Is this correct? Or can I create my reports on Deposits myself?

2007-03-30 04:38:55 · 3 answers · asked by Anonymous

I purchased my home for $360,000. It was foreclosed in 2006. I owed $280,000 on a first and $50,000 on second. I received 1099-C from 1st lienholder showing FMV $320,000 with amount canc 57,830 and a 1099-A showing FMV $242,664 with balance outstanding $36,619. I received nothing from 2nd lienholder. What do I claim on my taxes or do I even have to claim anything?

2007-03-30 04:32:39 · 2 answers · asked by keith m 1

what kind of fines and when should I expect my returns back

2007-03-30 04:26:48 · 4 answers · asked by some B 2

2007-03-30 04:14:25 · 2 answers · asked by weslaf0313 3

Every month I have to pay $300 dollars to the IRS for federal withholding. That's about $3600 a year. If I took that same money and put it in the bank I would aquire several hundred dollars in interest by April 15 of the next year when it is actually due to the IRS. When I deduct my withholdings from my taxes I think I should be also able to deduct interest for them using my money. Is this already possible? If not do you think it should be? If my taxes are late I have to pay interest.

2007-03-30 03:53:19 · 10 answers · asked by Mark J 2

I am 20 years old i made $16000 in 2006 and i just got back $89 bucks its that right? i have no kids no married just me.

2007-03-30 03:49:39 · 6 answers · asked by pollo 2

I'm selling 5 acres with a mobile home (probably for not much more than I have in it), but I wanted to know what kind of taxes I'd have to pay if I were to make more than the payoff (or original purchase price??? not sure how that works, either).

2007-03-30 03:14:52 · 3 answers · asked by Anonymous

The land I am selling was given to me by my father & the land has been in the family for over 100 years. Do I have to pay capital gains taxes on it if I sell it.

2007-03-30 02:57:59 · 8 answers · asked by Kathy B 1

What is the California % for charging taxes? And what are the benefits of charging taxes?
If a person from another state buys something from me do they still have to pay the taxes that I charge?
Thanks I'm new to the business word...........

2007-03-30 02:39:56 · 6 answers · asked by Emeralds Diamond Store 1

If one gets a graduate school felloship that pays for tuition and other expenses such as room, board, etc. can you report the entire scholarship as income and then claim life time learning credit or do you subtract the portion paid for tuition and report the balance as taxable income. The former method appears to result in lower tax.

2007-03-30 02:35:28 · 5 answers · asked by materialsguru 1

I was wondering what I'd be able to claim. I was thinking 2 maybe 3. My fiance and I live together and we now have a newborn son. CA resident. I make over $35k. What should i do?

2007-03-30 02:32:03 · 5 answers · asked by Raymond M 1

2007-03-30 02:26:09 · 11 answers · asked by sexynykky2 1

My husband and I both claim single zero on our weekly pay checks so we have quite a bit of money taken out. Last year we got about $1,500 back. We both made a bit more money this year and when we filed our tax preparer told us we were only getting back $70 federal and we owe over $300 to the state. I can't seem to understand why that would be. We have alot of money taken out of our weekly checks, plus when we itemized we had quite a few deductions since we remodeled our house last year. We file our taxes as married. Could the tax preparer have made a mistake???? Should I go to someone else and have them double check?

2007-03-30 02:23:38 · 5 answers · asked by pack513 4

I finished my taxes and file through efile. I then got a state letter for an audit. I used my own records for my numbers which now I see are way off after I got my Bank Statements. Would it be bad to now Amend my State and Federal and make it right?

2007-03-30 02:04:49 · 3 answers · asked by Anonymous

These benefits are due to the death of a parent.

2007-03-30 01:45:16 · 4 answers · asked by QUIETWATER 1

2007-03-30 01:39:50 · 4 answers · asked by rattone11 1

Brian Riedl, senior budget analyst at the Heritage Foundation, says if the Democrats' budget were enacted into law, the typical American household would see an average tax increase of $2,641 per year over the next ten years.

2007-03-30 01:25:01 · 3 answers · asked by credo quia est absurdum 7

2007-03-30 00:43:15 · 3 answers · asked by Staci B 2

KS forms only, who will provide this service online-FREE

2007-03-29 23:28:59 · 2 answers · asked by ibcnu72 1

I have my W-2 from 2004 and need to file it. I am aware that you cannot do e-file for backtaxes, but I don't know where to go to take care of this. I would rather do it for free (obviously) but don't mind having to pay a small fee as long as I can have it deducted from my return.

I went to H&R Block and they told me they could not file this for me. I live in Oklahoma (Tulsa). If anyone has any advice, I'd appreciate it! Thanks!

2007-03-29 21:28:07 · 2 answers · asked by [Isaiah born 12/31/09!] 5

I paid estimated tax in 2006, but now I forgot how much and when I paid it! My bank does not keep check record of over 6 months, and I can't find my old check book.
Can someone tell me how/where to get the information? I don't want to pay double tax or penalty!

2007-03-29 20:44:53 · 5 answers · asked by Aqua 2

I couldn't find a similar question on Answers, and was wondering if any CPA's/tax preparers could lend some advice.

I'd like to know whether my husband and I should file a joint return or separately.
We married in November of 2006. My husband is a Marine and made between $12-14,000. I worked for 5 months in 2006 and earned approx. $5,000. The state listed on his return is HI; mine is listed as OH (I lived with my parents who live in OH for 6 mo.s while he was in Iraq, and during this time I worked). His duty station is in CA (he's been here for the past 3 years), and I claim CA residency.

I was also wondering if we would qualify for the EIC (Earned Income Credit). If we do, should we take it? If we just have to pay it back next year I'd rather not go that route. How should we file in order to maximize our return and minimize the hassle?

2007-03-29 20:28:51 · 6 answers · asked by dreamin delux 3

i need help i worked my first year and taxes are next month so i need some help. What to do what to do. Asked a lot of people and they dont know how to do it so any help would be great.

2007-03-29 20:25:46 · 2 answers · asked by Yosapa G 1

2007-03-29 18:29:02 · 3 answers · asked by Anonymous

I'm filing my taxes and can't find my kid social security numbers. Is there a way to access them on line?

2007-03-29 18:24:05 · 10 answers · asked by munchkin53 1