United States - March 2007

We purchased a home in August 2006. At settlement we repayed the seller for the real estate taxes that they paid for the last few months of the year. Our mortgage company did not include this in our tax statement but it's on our settlement paperwork. Can we deduct that as real estate taxes paid?

2007-03-07 02:48:26 · 6 answers · asked by PK 1

I'm an independant contractor and plan on writing my gas, food, etc. However i do not have all my receipts. I printed out my bank statement for the tax year to figure out all of my deductions. Is this allowed?

2007-03-07 02:47:01 · 2 answers · asked by Dustin C 1

My uncle Charlie bought an abandoned house in Chicago 25 years ago for $10,000.
Last year he sold it to a developer for $300,000, it will be torn down and turned into a condo complex.
He is a factory worker and would rather keep the money than put it into another house which he might not be able to afford long term.
He owns another house which is his primary residence.
What are some deductions that he can use so he won't end up giving half his money away?

2007-03-07 02:35:37 · 7 answers · asked by No Picture 1

I am 36 and just recently went back to school as a full time student. My question is can I claim exempt even though I have a full time job?? I don't want to get into any trouble with the government. Also, is there an income limit to claim exempt if you are working full time?

2007-03-07 02:19:55 · 7 answers · asked by mzbrwnskin 1

2007-03-07 02:06:58 · 5 answers · asked by sun f 1

What tax form would a 16-year-old use to file his taxes when he only made about $1600 hundred dollars. His parents also claim on using him a deduction.

2007-03-07 01:20:33 · 3 answers · asked by Willie 1

I cashed in EE bonds totaling $480 in interest in 2006. I called the bank for a 1099 and they claim to have no record of my cashing in the bonds. I know the Federal Reserve keeps track, so I HAVE to report it. How do I explain this to the IRS? Any advice?

2007-03-07 00:57:21 · 3 answers · asked by Anonymous

I have heard people say, whatever the number is, cut that amount into half, and you can figure how much is actually awarded after taxes.

But does anyone actually Know the percentages of tax that is taken out of 120 mill?

2007-03-07 00:53:15 · 7 answers · asked by Craptacular Wonderment 6

KAPERS= Kansas state employee retirement plan.
I know it can be used on the state form but I'm unsure if it can be used on the federal form.

2007-03-07 00:52:46 · 2 answers · asked by its_jst_me2003 1

i am still in nc last year i r s sent a paper stating that an error was made..found out my husband(sep) has been claiming all of us as if we were together the last 4 years..i have claimed HOH and child tax credit i rapid mine he waits on mail. last year i claimed my nephew who resides that was the error when i ?? him he denied and gets auto deposit..we are still legally married but both have long/live relationships. he sees his kids only if i go to fla .that was 3 yrs ago..irs wants me to repay my 1800.00 but he keeps his 4200..and somehow signs my name..i guess please help me i am not irs smart and isince i have been in nc since 1995 have only claimed 6 times why wouldn't they have seen this sooner??

2007-03-06 21:12:13 · 5 answers · asked by Anonymous

What do I write as a "signature"?

Do I write "Susan Doe by John Smith, Attorney in Fact"?

2007-03-06 21:08:36 · 4 answers · asked by Anonymous

what is the tax rate for long term capital gains and that for short term capital gains?

2007-03-06 20:02:11 · 2 answers · asked by Anonymous

what is it? and will i get in trouble for not filing this with my tax return? interest income is only $11.17 with no federal tax withheld.thank for taking your time to read my question.

2007-03-06 18:56:40 · 3 answers · asked by kidatari 1

I am courious as to the status of my tax refund for the government. I have tried both the website and the 800 number ( which is an automated system) to gather information, but to no avail. When calling the 800 number, they do not give you an option to talk to an I.R.S. representative. Both times I have been informed that there is no information available about my refund. I filed electronically with the direct deposit option on February 19. My refund filing should be confirmed by now. I want to know if they can give me an approximate date that I can expect my refund. I am anxious about it as I have been off work sick for the last 3 weeks and used up all of my available sick pay late last year.

2007-03-06 18:55:11 · 1 answers · asked by scarlettohara1861 2

2007-03-06 18:47:09 · 7 answers · asked by sangria 1

Do I still have to file as single due to the fact that she doesn't work and doesn't have a w2?

2007-03-06 17:17:07 · 5 answers · asked by unhappy 1

i am currently receiving social security disability & know i do not have to claim the pension (to social security) as it is considered unearned income. the pension i will be receiving is not state, federal or government in nature, however i will be retiring about 16 years before my full retirement age.

2007-03-06 17:08:50 · 1 answers · asked by kay 2

i cant find my w2s to mail in with my forms for my return.. is it ok to send a photocopy of the w2's instead of the original? Thank you in advance and please no suggestions to do taxes online or with a tax preparer

2007-03-06 17:02:02 · 7 answers · asked by sarah 2

Do the banks cash the tax refund checks? How much percentage would they charge for cashing a third party check? Thanks !!!

2007-03-06 16:06:06 · 6 answers · asked by Anonymous

If my business adopt charging on milage for auto used in business. What is the general practice?

2007-03-06 16:05:51 · 4 answers · asked by Danemma C 1

2007-03-06 15:12:07 · 7 answers · asked by Rabbit 5

I have the form 8379...i live in Texas a community property state, the IRS took our 2003 refund for my ex's student loan default from before we were married. Am i eligible to receive 1/2 of it back? I earned money that year but no federal withheld...9.5 K to his 53K. I wonder if i would get anything back

2007-03-06 15:07:31 · 2 answers · asked by deu77382 y 1

2007-03-06 15:05:48 · 7 answers · asked by Anonymous

If the salary is included as an expense, then the income tax for the business is less, but of course, the owner has to pay his own income tax. So is it better to not pay yourself a salary and somehow finesse it so that you deduct everything and pay no income tax? References would really help here. Thanks!

2007-03-06 15:04:01 · 4 answers · asked by sunnskye 1

My parents are over 65 and they live with me. I am the head household and their living expenses are based on their social security. I'd like to claim them as dependents so that I can get more deduction. But will this decrease the amount of money they get from Social Security?

2007-03-06 15:03:48 · 2 answers · asked by netbrowzer 1

We have used TurboTax for a few years and used the second choice. We have no investments. This year they won't let us into that one, eventhough that is the one they recommend when we take their survey. We have asked for help, customer support and have gotten NOWHERE. Anyone else having that problem? Did you find a solution?

2007-03-06 14:31:37 · 2 answers · asked by maureen46 1

when does the irs updates the status of the refund and what day and time they do the update

2007-03-06 14:17:31 · 1 answers · asked by mic4579 1

IS it too late to file tax returns in Ct? And has anyone ever heard of or worked at Camp Horizons in South Windham CT?

2007-03-06 14:12:02 · 1 answers · asked by Anonymous

is there a website i can go to to check were the loaction of my checks are currently at. kind of like ups were you can put a tracking number in and it will tell you were the location is

2007-03-06 13:42:36 · 3 answers · asked by knowndebaser 2

2007-03-06 13:39:49 · 3 answers · asked by hardycynthia 1