United States - April 2007

Is my IRS balance due deductible next year?

2007-04-03 05:41:29 · 4 answers · asked by Anonymous

2007-04-03 05:12:34 · 0 answers · asked by mob624 1

thanx

2007-04-03 04:25:50 · 4 answers · asked by light224 1

2007-04-03 04:23:13 · 3 answers · asked by epeshear 1

What is the amount the IRS gives for children that are claimed on tax returns? Is there a standard amount? Does it depend on how much you earn during the year?

2007-04-03 04:02:53 · 2 answers · asked by pusha_tboo 1

How long do i have untill i have to send in the money for my taxes? Like the money i owe?

2007-04-03 03:54:23 · 5 answers · asked by lilma2588 1

I am a single female living alone with no children. What is deductable if I itemize versus taking the standard deduction?

2007-04-03 02:56:48 · 6 answers · asked by Cady 2

I am 28 yrs old and took out a loan from my 401K 3 years ago. Payments were being deducted from my paycheck on a regulary scheduled basis, until I left the company and was told I had 60 days to pay the remainder of the loan balance in full, which I did. I received two tax statements in the mail, one stating the gross amount of the loan and another stating the gross amount of the loan as $0. When I went to have my taxes prepared, I was told that I would have to pay taxes on the amount of the loan that was outstanding when I left, even though I paid it in full. Is this true? This is considerably lowering my refund and I want to make sure that the tax preparer is not making a mistake. Any info on this would be greatly appreciated, thank you!

2007-04-03 01:58:46 · 8 answers · asked by ihaveahugecrush 2

I am self employed,and have already filed my taxes for 2006.In Feb.of 2006,I house sat for someone, and got paid one thousand dollars.I received two checks,each for five hundred,from two different person's accounts.Now, one of the people wants to send me a 1099 for the thousand dollars,even though only five hundred came from him.He thinks that he can take the deduction for the money he paid me.I keep telling him that since the check was for under six hundred dollars,that he cannot take the deduction,and I don't have to claim the money.He was supposed to get this to me by Jan 31st,and he's just getting around to it now.He's just looking for every deduction he can get because he screwed up.He said I should just file an amended return next year.Who's right? Please don't answer if you really don't know.

2007-04-03 01:24:39 · 4 answers · asked by Cheese 5

First time tax payer to the state, and Turbotax does not file Florida returns because of a tax law that changed. Should I go to a professional? Can I get the forms and fill them in myself? Any help is apperciated as time is ticking....

2007-04-02 22:45:42 · 8 answers · asked by theuey764 2

2007-04-02 20:04:22 · 1 answers · asked by quizzled 1

Hi all,
I am an international student on F-1 visa, studying in a NY school. I interned in PA for the summer. The PA company has withheld PA tax (3.07%) and NY tax (apart from Federal). They have also given me 2 sheets of W2s. Does anyone have an idea as to why NY tax for PA income?
Thanks in advance

2007-04-02 19:48:11 · 2 answers · asked by Praveen 1

I don't have a kitchen. It's in my lease "No Kitchen." Would I be able to itemize my restaurant receipts?

2007-04-02 18:42:12 · 5 answers · asked by Cady 2

My wife got her SSN only in Jan07 even though she started working in Nov 06(with a dummy SSN). Without an SSN, a retirement a/c could not be opened and hence she could not contribute in 2006. In that case, will she be eligible for an IRA investment for 2006? Our AGI (filing jointly)is less than the prescribed limits and is eligible for an IRA.

We would appreciate a clear response.
Thanks,

2007-04-02 18:18:54 · 4 answers · asked by ksakrish 1

2007-04-02 18:02:08 · 2 answers · asked by jrtcpa@sbcglobal.net 2

I sold my house within less than 2 years of residency. I had Calhfa loan which is federal subsidy mortgage. I don't have to pay recapture tax because my income doesn't exceed the adjusted income limit. Should I pay capital gain though (Schedule D form 1040)? I gained $50k from the sale after deducting closing costs, etc. H&R said I only owe state tax. I got refund from federal. Do you think it's odd that I don't owe federal tax after gaining $50k? Any advice? Thank you guys, who answered my question, sorry I accidently deleted my previous question.

2007-04-02 17:57:45 · 3 answers · asked by bunga 1

Me & family got USA citizenship. Last year I moved overseas to do some reserach works on eartquake victims. Last year 2005 since I worked in USA and remained there for more then 6 months as such I filed my tax return accordingly. But in Year 2006 the whole year I remained self employed at overseas and my tax was deducted accordingly to local laws.
Now I need to know can I file my 1040 or other relevant tax return claiming self employed with foreign earnings? I need to find out before 15th
April as the last date of filing tax return.

2007-04-02 17:55:46 · 4 answers · asked by mmarfani7795 1

2007-04-02 17:49:18 · 3 answers · asked by LA 1

What if i sent in my paper filing and then decide to file online? would there be any penalties for that/

2007-04-02 17:43:05 · 1 answers · asked by demons320 1

I don't think I will owe property taxes this month since I didn't own the house in 2006, but want to make sure - where can I find this info?

2007-04-02 17:37:20 · 3 answers · asked by Graham G 1

2007-04-02 17:09:00 · 13 answers · asked by John B 1

I worked a full time job and a part time job in 2006. When I put in my W2 info for my full time job, it said my expected return was $267. After I put in the W2 info for my part time, it then said I owed $18. Can I get away with only filing taxes for my full time job?

2007-04-02 17:02:36 · 8 answers · asked by Brown Suga 2

2007-04-02 16:51:21 · 4 answers · asked by Jonathan C 2

So, before it was just that i was having trouble getting my check from my previous employer before i left the state. well, the check finally came about 3 months later, and they said they would also have my W-2s to me by the 1st of february. Everytime I call them they tell me "You need to give it time, and about two weeks for them to be mailed."
Should I try calling one last time or is it too late? If they dont get here within this week would I have to report them or what? They still arent here and there's only 2 weeks left ahhhh!

2007-04-02 16:28:23 · 3 answers · asked by Anonymous

My brother and I bought a house together, and both of our names are on the mortgage.

However, his social security number is the only 'official' number on the finance forms, and only he received a 1098 form for tax purposes.

Can I deduct mortgage interest since I am part owner, even though I didn't receive a 1098 form?

Or do I have to add my name officially by re-financing the house under both of our names?

2007-04-02 16:27:03 · 4 answers · asked by lei514 1

I like for you guys to figure this out, to test you of how good are you in financial skills

(Put these in order to)

You recieve your W-2 from your employer
You get a job
you sign and mail your return by April 15
you fill out a W-4
you decide which form to use
you recieve a 1099 from your bank
you fill out the forum
your employer hold taxes from your paycheck

THANKS!! LETS SEE HOW SMART YOU GUYS REALLY ARE! :)

2007-04-02 16:05:26 · 4 answers · asked by Anonymous

2007-04-02 15:33:37 · 1 answers · asked by justin 2

Can I claim for my child Education expenses in 2006?

I file married, Jointly on my 06 fed return. I paid for my child education expenses in 06, but I can't claim him as a dependent on my return ( his 06 gross income is exceed the $3,300 limitation).
Do I still qualify for the the education expenses deduction?

2007-04-02 15:06:04 · 6 answers · asked by kayask06 1

In 2006 we had to pay a lot for medical expenses (deductibles, etc, our insurance isn't great). The main expense was heart surgery our baby had in October 2006. With the back-and-forth between the hospital and our insurance company, including some incorrect rejections the insurance company made initially , we didn't get all of the bills (and therefore make all the payments) until 2007. Can we claim the 2007 payments on the 2006 surgery on our 2006 taxes (I want to b/c then we would exceed the 7.5% AGI....but I'm thinking that wouldn't be the way the IRS works?)

2007-04-02 14:59:11 · 5 answers · asked by sam & jack 2

How can I estimate taxes. Also im aware that if you make less than 600 from a company you dont have to pay taxes on it. If you make 700 do you just have to pay on 100 or on the whole 700?

2007-04-02 14:53:55 · 1 answers · asked by ugafan30721 1