United States - July 2007

I'm single, 51, share rent with 30 yr. old son. For my paycheck, should I claim 2 to have more money raken out, or should I claim zero? I have 19% of federal taken out for taxes. I make 6.75 an hour, plus commission, however, I just started the job, so I don't know how much commission will be. I am told that no paycheck is under $500 takehome.

2007-07-20 04:51:41 · 3 answers · asked by mom420 1

My college needs my tax papers for 2006, I have all but one sheet and have no idea where the third is (my house is in shambles from looking for it) I need this asap. Is there anything I can do to get that last part?

2007-07-20 04:33:26 · 2 answers · asked by Anonymous

2007-07-20 03:53:30 · 2 answers · asked by Girac 2

ok i didnt file my state taxes yet, and its 2 months pass due, am i going too jail for tax evasion? or am i going too have too pay a 35,000 dollar fee? whats going too happen im filing them as we speak!

2007-07-20 03:41:32 · 5 answers · asked by themanthemanfrozen 2

2007-07-20 03:30:03 · 2 answers · asked by Anonymous

I've heard that if you want to rat out someone to the IRS for tax fraud that the government will give you a reward of a certain percentage of what they collect. However, you have to fill out a certain form. Does anybody know what form this is and how to obtain it?

My last employer found out I was looking for another job and fired me because of it (that's the reason he gave me). When I filed for unemployment he contested it claiming that I had been reprimanded 4 or 5 times for my job performanace (an outright lie---He never reprimanded me, in fact, a week before he fired me he gave me a raise). Normally I wouldn't rat anyone out to the IRS, but I'm making an exception in this case.

2007-07-20 03:27:54 · 2 answers · asked by Anonymous

Can u get them with only your irs number or do u need a social secuity number?

2007-07-20 03:09:28 · 1 answers · asked by ALAN 2

My employer isn't taking taxes out of my check and requiring me to take them out myself. How do I go about making sure I take out enough money to pay correctly. HELP PLEASE!

2007-07-20 02:47:01 · 2 answers · asked by redsoxchica06 1

I have had a relatively short working career, the part-time and temp jobs I did through college yielded little income.

Since then (The past 5 to 6 years) I have had somewhat steady employment as a contract designer and no real way to track my income ( I have changed addresses a few times - companies I worked for kept sporadic records etc.) until this past year where I landed a management level position - yet still as a contracted worker with no benefits or taxes taken out to my knowledge.

I now feel it's time to move on to payroll and into the benefits package - but that won't occur until late October of this year.

I'm currently making 45K (annually) and do not want to jeopardize what little money a make by potentially alerting the IRS to my situation before I get my expenses and receipts together.

I'm confident I can "get right" with my tax situation - what's my best course of action?



Thanks again for your time and interest.

2007-07-20 02:46:04 · 5 answers · asked by drewmusic007 1

My current salary is 42k yearly of which I contribute 10% to an employee sponsored 401k plan. Would it be beneficial for me to open up a Traditional IRA or a Roth IRA?

Also, give the fact that I am contributing 10% into my 401k, could I still use my Traditional IRA as a tax deduction... thanks...

2007-07-20 02:43:27 · 2 answers · asked by Raffy 1

I am 30 yrs. old and have worked all of my adult life, but never filed. Should I leave it alone and never file? What would happen if I did? How much trouble am I in?

2007-07-20 02:23:57 · 9 answers · asked by Anonymous

2007-07-20 00:17:52 · 13 answers · asked by ro m 2

i have a part time job in california and i get $7.50/hour. Say my pay is $225 every paycheck. how much will i actually end up with in my pocket?

2007-07-19 21:27:51 · 6 answers · asked by Anonymous

I am a non-resident, who recently received a notice that I have a state income tax deficincy for 2005. The reason for that is the fact that the NJ state tax authorities have not recognized my last paychecks as a proof for the state taxes paid (I didn't have W2`s at the time of applying for return). Moreover, they have notified the IRS and I do have a federal debt connected with this deficincy. However the amount owed to NJ div. of tax. was not offset by the IRS from my federal tax return. I sent to the NJ div. of tax. couple of weeks ago one W2 form and two paychecks (I received W2 from one employer out of three for 2005). They (the NJ div. of tax.)have withheld the full amount from my 2006 state tax return, but I still owe them something like $60-$70. Recently I received a notification that I have won from the green card lottery. I will do everything possible to clear this up, but could it be an obstacle for me to obtain a green card.

2007-07-19 19:50:00 · 2 answers · asked by Ivan S 1

I try to pay as many bills as possioble through my corporation in order to have all of it written off and i know that its a good thing. BUT how do you show proof of high income when you try to buy a house or a car and you can't show high personal income because all your bills are paid through the company and you dont need to write yourself high paychecks. Anyone knows what can i do?

2007-07-19 18:57:23 · 4 answers · asked by Anonymous

2007-07-19 18:30:29 · 6 answers · asked by Megz 2

2007-07-19 15:49:14 · 5 answers · asked by Kinloch K 1

Can more than one tax credit be taken on a return? If so, which ones can be taken together? How are multiple tax credits limited?

2007-07-19 15:34:08 · 4 answers · asked by angel_rat_83 1

I haven't filed since 2003. I would have received a refund in 2004, but I was overseas and didn't have the tax forms. In 2004, 2005, and 2006 my income was foreign income and was not reported to the IRS, and I didn't file that either. I'll continue to work overseas in 2007 and 2008. Just want to be square with Uncle Sam. What would you do?

2007-07-19 15:08:40 · 5 answers · asked by Anonymous

Im 18 years old and I have recently looked at my credit report, and it says I owe a $5,100 federal tax lien to my courthouse.
It says its from 1994 and im 18, I was 5 years old in 1994! If I go to the courthouse and prove that I was a little kid when this happened will they remove it from my credit history? I dont want this to hender my life, I just want it gone. Is there a way to be free of this burden? Help me please.

2007-07-19 14:52:25 · 3 answers · asked by Anonymous

The standard income tax rate for Massachusetts is 5.3%. On the tax forms the last few years, there has been a box to check if you want to pay the optional, higher tax rate of 5.85%.

Does anyone know why this is on the forms? It seems crazy to me. It would be like buying something at Wal-Mart that cost $53 and the cashier asks if you'd like to pay $58.50 instead. Is there anyone out there who paid the 5.85% tax?

2007-07-19 14:26:59 · 5 answers · asked by bencas9900 4

I work online for a company based in the UK that pays me via paypal - I do not sell or anything through EBAY or auctions. So far this year, money has been tight... and I haven't stashed anything for taxes at the end of the year.

I guess I would be listed as a private contractor and would be responsible for paying my own taxes... as well my company is out of the US and no one reports my income.

I support a family of 3 and make about 45 K a year.

How much should I be saving and what do I do at the end of the year to report? For now, I live in NV which doesn't have a state tax, but in Sept - I will move to Utah.
Is there a program I should use to keep track of everything?
Also, can all those stupid paypal fees be used as an expense?

Thanks :)

2007-07-19 13:50:02 · 4 answers · asked by Willalee 5

My inlaws took out a loan in there name for a house for my husband and I. WE PAY all the morgage payments,taxes, insurance, ect. They make it seem like they only get a couple hundred $ back a year (on their taxes) for this house. I was browsing some sites and they said more like $4500, but I am not sure if that is correct. So can anyone give me an estimate on what they might get. The apprasal is valued at atleast 80,000 could possibly be more. We bought the house for 54,000
the intrest rate is 8.9500. Any help would be great!! Thanks

2007-07-19 13:48:46 · 2 answers · asked by asldkfalsdfkj 2

in the end you owe the government and them...

2007-07-19 13:19:03 · 6 answers · asked by QUETZAL 1

I know IRS allows you to have two qualified homes and deduct interest on them, even though you don't live in the second home, as long as you don't rent it out, or you don't put it up for sale during the year.
How about if I dont' own a home (rent in one state) and buy a house I intent to live in, down the road, in another state. I don't rent or sell that house.

Is the interest tax deductible? I cant' finf this case in IRS pub 936

thanks!!!

2007-07-19 13:06:23 · 3 answers · asked by UA_Tucson_AZ 1

i am 17 and have a small job... i make less than $3,000 a year. i have been paying federal and state taxes which i don't ahve to. do i have to file a tax return and what if i am a dependent on my dad's salary?

2007-07-19 12:27:40 · 6 answers · asked by Anonymous

i just got hired at smoothie king and he said i needed to fill out a W2 form. what the heck is that?

2007-07-19 12:26:18 · 10 answers · asked by cowmoomoo 3

Can a wage garnishment be enforced on a 1099 independent contractor?

2007-07-19 12:09:15 · 4 answers · asked by Barbara A 1

since he doesnt works? or my 2 dogs? because 130 is alot of money.

2007-07-19 11:58:46 · 6 answers · asked by Daniel R 1

If I sell my rental property this year as opposed to next year will I have to pay capital gains? I am in the 10-15% income tax bracket. Will the capital gains be calculated as income for the year I sell it and possibly send me into the next bracket? Does this have to be a long term sale to qualify?

2007-07-19 11:21:07 · 3 answers · asked by josh609 1