United States - May 2007

Through some unique circumstances I find myself working from home. The company I was working for told me to 1099 my services to them. My questions is since I live in L.A. county is it in my best interest to go 1099 or should I form a company and do business that way? I really want to know the pluses and minuses of both as far as taxes go. - Thanks for any response -

2007-05-29 11:14:47 · 7 answers · asked by ninja_kie 1

does the irs get notified, credit companies, any other governmental entities, who does the bank send the info out to and then is that info then transfered again to other org/gov/corps?

2007-05-29 11:12:03 · 3 answers · asked by hawkinsalex 1

do every once in a while do you dread the most?

2007-05-29 11:09:56 · 6 answers · asked by Anonymous

It was an amendment to our refund, because the assistant CPA did not believe that my husband could claim me on our taxes.

We got the state portion, but have been waiting for over 2 months for the federal?

Where can I call to check up on this?

2007-05-29 11:08:40 · 3 answers · asked by Mommy to David 4

I am a college student and I own my own business doing videography. I know that the minimum to file federal tax is $8,450 after all deductions have been accounted for (cameras, computers, etc).

What I do not understand is, if I make $8,451, would I pay tax on all of the money or only what exceeded the minimum of 8,450?

2007-05-29 11:05:09 · 3 answers · asked by John 3

I mean a direct law that instructs all people of the United states to pay an income tax.

2007-05-29 10:38:45 · 9 answers · asked by Anonymous

2007-05-29 10:28:21 · 10 answers · asked by Anon 3

since a roth ira is exempt from capital gains taxes, does it not matter at all whether a capital gain is long-term or short-term?

2007-05-29 09:40:46 · 4 answers · asked by Anonymous

I am appling for jobs and need it for applications. I am 16 so no tax returns for me.

2007-05-29 09:37:23 · 5 answers · asked by john from bryan texas 2

1993 Parent takes principle residence and divides as follows:
1/3 parent
1/3 daughter
1/3 son

All three are tenants in common and house is worth 160,000
709 filed with irs


2006 Day before parent dies, parent share divided between daughter and son still tenants in common.

Daughter has lived in house the entire time therefore house is principle residence.

Son has not lived in house since 1970.


Assuming house sells in 2007 for 450,000 what do son and daughter owe in terms of capital gains ?

2007-05-29 09:28:08 · 5 answers · asked by Anonymous

I like getting the return at the end of the year. Should I and my wife claim all of the dependents now or just claim each 2 on our paychecks. I make about 32,000 a year and my wife makes about 37,000 a year. Should we claim all 6 now or not. Thanks

2007-05-29 09:09:03 · 4 answers · asked by sagarnyva 1

A tip you leave at a restaurant is the server's wages. In fact, it even gets taxed. So basically tips are taxed twice, from the tipper and the tipee.

2007-05-29 08:11:42 · 10 answers · asked by rickpetralia 1

For capital gains purposes, do I use the inherited cost as the basis for figuring capital gains or since it is an inheritance is the entire sale taxable?

2007-05-29 07:38:39 · 5 answers · asked by Geo Spaulding 1

2007-05-29 07:25:14 · 6 answers · asked by leachelaine1 2

What is the law that forces Americans to pay Federal Taxes?

2007-05-29 06:51:04 · 8 answers · asked by Ivan G 2

my wife owns a hair salon that is incorporated for 6 years, she has written her car off every year even though the corp does not own the car its only in her name, she claims no tips and only writes herself a check for 1000 dollars a month, for personal income, even though she pays half the mortgage, 850, she has 2 car payments one car she bought for her dad and is 300 a month and her car is 500 a month, she makes her credit card payments about 800 a month, it just does not add up is this all legal

2007-05-29 06:48:56 · 3 answers · asked by mrmom 1

I make $12k/year as an independent contractor, and I file a 1099. (I'm asking because I am considering purchasing a phone for business use.)

2007-05-29 06:46:47 · 6 answers · asked by elessar221 1

I'm just now getting around to doing my taxes :(

I have about 17k in hospital bills and I've paid off about 6k.

Can I write that 6k off?

Otherwise I'm going to owe a lot of money.

I make about 50k a year, single, no other deductions :(

2007-05-29 06:29:40 · 7 answers · asked by Anon 3

I think not.
My brother works for the State of Maryland University. They are employed by the state, but refuse to give me a state ID number. The W-2 shows the FEIN number in place of the State Id.
Please let me know if you have heard of this problem. Otherwise I think there is a mistake here.

2007-05-29 06:23:13 · 3 answers · asked by Chris 3

2007-05-29 06:22:44 · 3 answers · asked by sliver0823 1

on Page 2 of W-4, " Deductions and Adjustments Worksheet", questions number 4, it asks me to Enter an estimate of your 2007 adjustments to income, including alimony, deductible IRA contributions, and student loan interest. For me, I have 401k, medical insurance, and FSA that's deductible. So what number should I enter for this line? Add up all the deductible, or my salary minus the deductible (or AGI)? Thanks.

2007-05-29 06:14:11 · 2 answers · asked by kev 1

And who is reasonably priced or who will accept payments. Thank you!

2007-05-29 05:59:43 · 2 answers · asked by crnshrex 2

I currently qualify to claim 7. I am a single mother of one child and do not want to owe the IRS money at the end of the year. I also want to keep as much money as possible in my check.

2007-05-29 05:39:06 · 5 answers · asked by Anonymous

The form I'm looking for is the one you fill out when you first get a job, that form determines how much taxes should be taken out of your paycheck, by how many people you claim.

2007-05-29 05:11:39 · 5 answers · asked by brittany b 1

2007-05-29 04:15:48 · 3 answers · asked by pflynn1950 1

I have been taking around 20% out of my paycheck to cover taxes, but does anyone know if this is necessary since I work for a company out of China?

2007-05-29 04:10:15 · 4 answers · asked by tiurf82 2

I'm wondering if dating him would be a good idea since I think he might still be able to access my IRS returns and invade my privacy... Does anyone know someone who's worked for the IRS, or do you know if it would still be possible for him to access my records? Thanks, I appreciate any help on this topic.

2007-05-29 03:58:49 · 4 answers · asked by Anonymous

I work for my cousin and receive paychecks from him. I don't get any deductions on my paycheck and i have to file my own taxes come tax time. He files his own taxes as well. His book keeper sends me a w-2 showing how much i made and i go to my tax person and file a 10-99 and pay whatever i owe. Now since I fill up the car am i entitled to have tax deductions for gas with receipts? and i was also wondering can i have tax deductions for medical payments such as going to the dentist? I've paid a good amount this year for the dentist. I don't have any kind of health insurance or health coverage. How about a tax break since i go to college? Thanx for all the help.

2007-05-29 01:57:45 · 4 answers · asked by Anonymous

2007-05-29 01:48:39 · 6 answers · asked by Anonymous

w2's and 1099 besides going to tax preparer

2007-05-29 01:39:28 · 5 answers · asked by meekoe2 2