United States - April 2007

My parents had a 2nd home and they gave me power of attorney and had the home put in my name and my husband's. Mainly so the Nursing HOme, etc. won't get it. Will i have to pay taxes on it, if we sell it, and does the nursing home still have access to it?

2007-04-20 08:09:25 · 6 answers · asked by Anonymous

2007-04-20 08:05:10 · 7 answers · asked by Anonymous

I haven't paid my personal property tax for two years and just bought a new car. Will i only have to show a receipt for the last year since it's a new car? or will i have to show the last two years?

2007-04-20 08:00:31 · 5 answers · asked by ? 3

I am doing a project in my business class. I have to find the Federal Income Tax, Social Security Tax, Medicare Tax, and State Income Tax (Mississippi). In the simulation my annual salary is $38,400.00 per year. I am paid biweekly $1476.92. I would greatly appreciate at least a web site to tell me what percent should be taken out for the amount I make. Thank you so much!

2007-04-20 07:06:51 · 4 answers · asked by Matt 2

If my mom (foreigner) was to sell her home in Texas, what are the tax ramifications for her in terms percentage of profit she has to give up to the IRS? Any other tax problems to watch out for?

2007-04-20 06:52:34 · 4 answers · asked by leodadog 1

I mailed out my state and federal returns on 3/20/07, about 2 weeks ago recieved my check from the state, but not from the federal government. Today my brother, who mailed his reuturn, about a week and a half after I mailed mine, recieved his federal check. Does anyone know what is going on?

2007-04-20 06:32:47 · 15 answers · asked by Joe 2

I just rolled over on someone who makes roughly 70K per year, and he has never filed a return. He's made this money over the past 6 years, so I figure he has made more than 400K during this period. That equates to roughly 100K in taxes plus lots of penalties. Normally I wouldn't say anything, but he will get busted sooner or later; I might as well get paid! If there is a reward coming, how much does the IRS pay?

2007-04-20 06:31:27 · 26 answers · asked by Anonymous

2007-04-20 06:19:38 · 8 answers · asked by jakespen 1

Is there any way to ensure that my income tax will not be used to support war? I am looking for a legal method, NOT simple refusal to pay.

2007-04-20 06:10:29 · 11 answers · asked by BarePaw 1

2007-04-20 05:51:00 · 3 answers · asked by Anonymous

I donated hundreds (maybe even 1,000 or more) items to Goodwill. Most of the stuff was really nice, but just didn't fit anymore (I've had two babies in 2 years....I'll never wear size 0, or 2 again). Anyway, I took the number of each item I gave them, halfed it (because maybe some of the items may not be usable who knows), then picked the medium value that was on the back of the sheet as the value for each item. For example: I gave them 4 dresses, I only reported 2, and the values ranges up to 50/each. So I reported they were each worth $25. I did this with all my items, and the value came to almost $1,700 for everything. Do you think this is too much and I am risking being audited, or do you think this is fair, and an okay value. Like I said all the clothes were in good condition (some still had tags) they just didn't fit me, my husband or our kids anymore.

2007-04-20 05:08:07 · 8 answers · asked by ... 4

Does anyone out there know what "B14PT" means as a category included in Box 14 of a W-2?

Thanks

2007-04-20 04:00:11 · 6 answers · asked by Nicholas W 1

I just got a new job in New Orleans paying 9.50 an hour and I wanted to know, working 30 hours a week, how much can I expect to keep? Please help me. I've been doing research on the state's websites but I found little or nothing helpful.

2007-04-20 03:47:09 · 3 answers · asked by Anonymous

i'm due a refund for all 3 yrs and elected direct deposit

2007-04-20 03:39:01 · 4 answers · asked by k_lafriniere06 1

Ok....

I have a bet going with my girlfriend. Do you only need to file taxes if you have an income? My thought is that even if you have no income, the federal govt. wants you to file a return. How does this work with the homeless?

Thanks!

2007-04-20 03:30:36 · 15 answers · asked by BriGuy 3

$50k,when he sold his house, do I need to pay taxes on this or is that totally his responsibility when he sold the house?

2007-04-20 02:56:06 · 8 answers · asked by momof3 5

2007-04-20 02:41:34 · 11 answers · asked by Anonymous

We have sold her home. The money is all hers but it is in 4 names total. How do we claim and protect the proceeds.

2007-04-20 01:31:26 · 4 answers · asked by Mike 1

If your base salary is $35k a year... how much would you actually be taking home after taxes?

2007-04-19 23:21:07 · 3 answers · asked by James R 3

I just started a cleaning service, I sub contract for several companies. I didn't meet the deadline for filing my taxes, what can I do?

2007-04-19 19:21:05 · 6 answers · asked by akalouwho 1

I sent the check with the 1040V which I believe had my social security number on it. I did manage to remember the other requested information, type of form , address. I hope it isn't imperative that I have it written on my check since they have the printed 1040V form with it.

2007-04-19 19:03:04 · 4 answers · asked by R G 1

I bought TOYOTA PRIUS last year. I was happy that I can get 3K tax credit. But to my dismay, one can claim the tax credit only if I owe the tax.

It is not fair that I could not get credit just because I paid all my tax on time. If I did not pay tax and if I owe, as per turbo tax I can get the credit.

So for example, if I owe $3500 tax, then I get 3000 tax credit and I need to pay only $500. But, if I owe $500, I get $500 tax credit. Just because I paid $2500 tax ahead, I am not getting the toytoa prius tax credit. This is very unfair for the people that paid tax ahead.

Whether we withhold tax or not, the toal tax credit should be same. That is what turbo tax says, is this correct? Is there a way I can take the benefit of the whole $3000 tax credit.

2007-04-19 18:42:31 · 4 answers · asked by divarhot 1

Im about to graduate college and start my own buisness I need some help. This is going to be a joint partnership, me and my brother.
I need advice on write offs. We are starting a roofing buisness and I know what items are write offs, however I was always told that the more you buy in practicle terms you save more.
I assumed, now that I think about it very foolishly, that if you owed say 10,000 and bought 5000 in items that qualify that you could save the 5000 and only pay the remainder to the irs. This is way off, correct?
Does it work like if you were to make 55000 and spent 5000 on legitmate items then you only have to pay taxes on a income of 50,000? and then that amount would depend on your tax bracket? I think I got it....
Also how does charity donations work. I mean I dont want to donate just to write it off. I want to actually start my own non profit childhood cancer fund, was wondering how much I could donate to a charity and if thats deducted like the items are.
Txs

2007-04-19 18:26:37 · 5 answers · asked by The Unknown Awaits 3

A month after I got my refund I received another w2 and a 1099 in the mail. Now it's past the due date and I can't figure out what to do. I tried looking at the 1040 form and I don't get how to add these. I used the 540ez to file my taxes. I don't know. I don't want to go to pay to have these done. What a headache. any help? California.

2007-04-19 18:12:56 · 4 answers · asked by Anonymous

I have failed to file federal and state taxes for 2004, 2005, and 2006. I have spoken to a taxation lawyer who has said that for all the records that have been lost for those years, I can call the IRS to get copies and then move on to completing the filing for those previous years.

Is there anything informaton/doumentation I should have on hand before contacting the IRS? Is there anything I should prepare myself for?

Any advice on this would be greatly appreciated.

Thank you!

2007-04-19 17:10:36 · 4 answers · asked by Starshine 2

My Son and his girlfriend are buying a house and need to show W2's from the last 3 years. They both are missing 2004.
Does anyone know where they can get a copy?
Thanks

2007-04-19 16:29:24 · 3 answers · asked by Kismitt 6

I'm currently a college student. I'm going to be working part-time--20 hours a week--for $7.76/hour and I'm going to be claimed as a dependent under my mom. I've already handed in my W-4 and put exempt on it, so should I just leave it or change it?

Oh yeah, if I should change it, what should I change it to and how do I go about changing it.

Thanks

I'm guessing that I'm going to be working twenty hours a week for the remainder of the year since I will be here for Summer as well.

One more question: When they say I have to file a tax return if I make over $5,150 earned income, does that mean if i make more than $5,150 starting from January 1st until December 31st of the same year? For example, if I work 20 hours every week from now until December 31, 2007, I stand to make about $4,966, which means I do not have to file a tax return, right?

2007-04-19 15:33:56 · 2 answers · asked by blah b 2

Like if you make under $8000.00 a year do you have to claim those taxes.

2007-04-19 14:24:05 · 5 answers · asked by lovely 1

I was waiting on a W2 that didn't come til today. I have finished my taxes, and I'm getting a refund. Will I have a penalty when I file them?

2007-04-19 14:01:02 · 5 answers · asked by Anonymous

This is for a 2004 fed tax return? Can someone explain?

2007-04-19 13:59:25 · 3 answers · asked by Anonymous