United States - June 2007

2007-06-27 10:22:49 · 3 answers · asked by Anonymous

I know that different incomes are taxed at different rates, but don't quite get exactly how the math works out. If I make just enough to bump me into the next tax bracket, is it possible for me to have less net income?

Here's a hypothetical situation. Last year I made $24k, and was taxed at %10. This year, I made $26k, which puts me in the %20 tax bracket. Last year's net income would then be $21,600, and this year's would be $20,800.

Is that right?

2007-06-27 09:45:02 · 4 answers · asked by OMGWTFBBQ!!1 3

I know of a store manager that doesnt pay tax. how do I complain to the IRS and get him busted?

2007-06-27 08:57:40 · 9 answers · asked by fine touch of class 4

I worked for the employer and initially earned $13,000 and i received the W-2 form for the income and i filed the taxes for $13,000. Received letter from the IRS that the employer showed addition income for fishing income $12,790, another income $12,790, rental loyalty $13,990.
I don't understand the additional income showed by the employer and how can is dispute. ( The employer never gave me any document regrading the addition income shown on the IRS). I NEVER RECEIVED THE ADDITIONAL INCOME SHOWN IN THE IRS DOCUMENTS BY THE EMPLOYER

2007-06-27 08:25:28 · 6 answers · asked by iqbal s 1

Please settle a dispute. My friend has a business and he leased a car this last year that has a payment he can bearly afford. He thinks that come tax time he can write his lease off and that the state will cut him a check for 100% of what he paid on his lease. He thinks he is getting a free car. Isn't it true that when you write something off you just don't have to pay the tax on that item? Others have told me the same thing that they know someone who wrote off a car and that the check came in the mail for every penny they spent on it. They keep telling me that I should write off as much as I can because it equates to free stuff. So who is right? Thanks, I appriciate it.

2007-06-27 07:59:28 · 9 answers · asked by Rebecca K 1

If I donate my car and get a $1,000 tax receipt, what benefit will I get on my tax return?
More of a refund? If so, by how much?

2007-06-27 07:51:16 · 4 answers · asked by AnswerBot 4

I e-filed my taxes on the Sat. before last. I have not yet received a refund. Is this late or to be expected?

2007-06-27 07:49:27 · 3 answers · asked by justellemJimsaidhello 1

I did contract work for under someone for under $1000. He has already paid part of the sum, but he's asking for my social security number before he pays the remaining money. I was under the impression I only have to provide my social security number if he's my employer. I am very hesitant about giving him this information, especially because it's only contract work.

2007-06-27 07:33:34 · 8 answers · asked by franksvalli 2

How much is the Percentage for Property Taxes you have to pay?

2007-06-27 06:54:20 · 3 answers · asked by bluetown3 1

I have completed S-incorporation status and have my products and the price I want to charge. Do I have to get a sales tax id or something?

2007-06-27 03:19:42 · 2 answers · asked by kyojo 2

Currently my tax rate is 25% and this will likely push me into a higher tax bracket. How much of that $ 60,000 should I set aside for capital gains taxes? Besides holding it for 12 months, is there anything I can do to lower the tax burden?

2007-06-27 02:57:23 · 6 answers · asked by bettingman1229 1

i am a registered nurse.i make 80k

2007-06-27 01:20:20 · 8 answers · asked by mmm..whynot 3

what rules govern on a USA incorporated company's taxes if its entire source of gross revenue and income is outside USA where it's fully taxed and tax rules and forms on salary and wages;if this same company has only one employee (full time or contract base) which is citizen of that other source country OR in other word is a Non Resident Alien (NRA). TIA

2007-06-27 00:08:02 · 3 answers · asked by basereacts 1

2007-06-26 23:54:13 · 2 answers · asked by Anonymous

2007-06-26 21:13:53 · 6 answers · asked by Torrey Z 1

I entered a raffle last year in California, where I live, and won a new $30,000 custom motorcycle two weeks ago. We do not have a cash option, but probably will sell the bike shortly after picking it up.

How do we pay the taxes on this vehicle? I've read that the dealer sends us a 1099 form for our federal tax returns, but what about state income taxes? Is there a similar state form used to declare this vehicle as "income?"

On a $30,000 vehicle, how much cash will we have to present to the dealer for other expenses like registration, doc fees, title, etc... in California? Are there any legal loopholes we can use to minimize our tax liability on this prize?

The proceeds of this raffle did go to a bonafide 501(c), non-profit organization.

2007-06-26 21:07:21 · 5 answers · asked by Anonymous

I am going to be working as a secretary and told that my gross salary is 15/ hr. so what am I really left with?

2007-06-26 19:38:44 · 7 answers · asked by skates 1

When I get an asnwer from you. I don't want no rude, silly or stupid answers. I want real, polite answers. If you feel you have to be an idiot and say something stupid or agressive then you need not respond. Thank you. Please show proof.

2007-06-26 19:27:44 · 5 answers · asked by X X 2

Hi,

I had a project done by a company in India and they send me an invoice with their tax id number.
I paid them but then I realized that their TaxID number was in the form of xxxxxx/c/xxxx where c is a character.
I tried to input that in quickbooks and i got the error message "invalid format".

Do you think that this will be a problem when reporting 1099s to the IRS?
How will manage to enter the tax id into the 1099 for them?
Is 1099 what I need to fill out for this or is there another form?
Will I be able to declare the amount as an expense?
The amount is over $5000.

Thanks

2007-06-26 17:26:15 · 4 answers · asked by antonsqr 1

2007-06-26 17:24:44 · 8 answers · asked by Anonymous

After filing my taxes, I ended up having to pay. Could I request for payments installments to pay for my taxes?

2007-06-26 16:48:56 · 8 answers · asked by bskoolie 1

I'm about to recieve a settement and am able to pay her back some of what she has given to me. She is in a 46% tax bracket. Sne would have to give half of it to gov. She paid income tax when she earned it, she shouldn't have to pay twice should she?

2007-06-26 14:55:44 · 8 answers · asked by lullabyelady 2

I AM CONSIDERING FILING BANKRUPTCY BUT NOW MY FATHER HAS JUST DIED AND THEIR WILL BE AN INHERITANCE LESS THAN $100,000.00. DO I HAVE TO CLAIM THIS MONEY IF I FILE BANKRUPTCY IN THE STATE OF WISCONSIN

2007-06-26 14:45:51 · 4 answers · asked by jloew2001 1

2007-06-26 14:42:49 · 2 answers · asked by Anonymous

2007-06-26 13:34:56 · 3 answers · asked by nkk_slyrs 1

I live in the state of Pennsylvania, and I won prize money with the amount of $4,000. I was wondering how much of that will the government take for taxes? How much of the money will I see?
Thanks! =]

2007-06-26 13:25:56 · 2 answers · asked by Anonymous

I have all my 1040's filled out and ready to go. How do I go about filing them to the IRS? Should I send them by mail? Go to a local office? I know how stupid, irresponsible, etc. I am so if you could PLEASE just give me the information I need without those kind of comments, it will be greatly appreciated. Thanks.

2007-06-26 13:00:47 · 6 answers · asked by Anonymous

2007-06-26 12:51:43 · 4 answers · asked by sweetlittlething212003 1

2007-06-26 12:16:52 · 3 answers · asked by cindy k 1

10% tax which is $1000. But there is an additional taxable income. Does anybody know how much this amount is or how I can calculate this amount?

2007-06-26 11:47:44 · 9 answers · asked by Anonymous