United States - July 2007

how much medical and dental expense do i need to have to claim it on my taxes?

2007-07-18 09:28:34 · 3 answers · asked by Anonymous

there was money being taken for state and federal tax because I had been claiming "3", but at the same time I was also exempt from 3/2007-7/2007. Do you think I'll have to pay at the end of the year?

2007-07-18 09:03:37 · 2 answers · asked by Tim 3

2007-07-18 08:14:46 · 7 answers · asked by saved121599 1

Someone told me that the gas you buy at a marina is tax deductable, due to the large markup of delivery fees, etc? Is there any truth in that?

2007-07-18 07:43:33 · 3 answers · asked by Jon C 1

I recently bought a home outside the United States and I have a mortgage with a bank in the foreign country. Can I get tax benefits for the mortgage loan I have.

Thanks

2007-07-18 07:38:16 · 3 answers · asked by Ram 2

If I buy a Laptop computer for work can I right it off? Is it worth it? how much money does it get me? I am a sales rep and really would need it to be organized. Also on the same note, what about a blackberry? same questions.

2007-07-18 07:32:57 · 5 answers · asked by Buck 3

Our LLC is structured as profit sharing only at the end of each calendar year and no "guaranteed payments" to member-manager whatsoever. Are members obligated to pay estimated income tax every quarter eventhough we don't receive any income distribution yet? Is it needed for the LLC to create Quarterly Income Statement and the members will pay "estimated tax" based on those figures?

Please help. Thanks.

2007-07-18 07:28:48 · 1 answers · asked by Hinoktok 2

I have heard that investing some of your paycheck into a 401K will actually make you're take-home pay more because of the tax break. Lets say i make 2000 a paycheck minus taxes... so about 1400 a paycheck (assuming taxes are 30%)...if i invest 6% of my 2000 before taxes into a 401K, will that percentage of a tax break actually put more money in my paycheck after taxes and the 401K are taken out rather than just getting taxed on the whole 30%?

2007-07-18 07:17:32 · 5 answers · asked by rushfreak01 2

Is it crazy to take the IRS to court claiming you don't legally have to pay income taxes? One guy did, and won
By Loresha Wilson

A Shreveport attorney who has challenged the government for years on the legality of filing federal income taxes has been acquitted on charges he failed to file returns.

A federal jury unanimously found Tommy Cryer not guilty this week on two misdemeanor counts of failure to file.

And according to Cryer, the prosecution dismissed two felony charges of tax evasion prior to trial.

Attempts by The Times on Thursday to reach U.S. Attorney Donald Washington or Bill Flanagan, first assistant U.S. attorney, were not successful. Calls made to the two were not immediately returned.

"The court could not find a law that makes me liable or makes my revenues taxable," Cryer said. "The Supreme Court has ruled that the government cannot impose an income tax on anything but the profits and gains. When you work for someone you give your service and labor in exchange for money, so everything you make is not profit or gain. You put something into it."

Cryer was indicted last year on two counts of tax evasion. The indictment alleged he evaded payment of $73,000 in income tax to the Internal Revenue Service during 2000 and 2001.

Cryer created a trust listing himself as the trustee, and received payments of dividends, interest and stock income to that trust, according to the indictment. He also was accused of concealing his receipt of the sources of income from the IRS by failing to file a tax return on behalf of that trust.

"I determined that my personal earnings were not 100 percent profits, some were income," Cryer said. "I refuse to file, I refuse to pay unless they can show me I have a lawful reason to pay."

"What I earned was my own personal labor. I am giving something in exchange. I'm giving my property and I don't belong to anyone else."

Cryer says he stopped filing returns more than 10 years ago after he investigated claims that income tax was a sham. He contends the law doesn't actually tax personal earning.

2007-07-18 07:01:02 · 7 answers · asked by Beauty&Brains 4

2007-07-18 06:52:05 · 1 answers · asked by Anonymous

I am currently a full-time student at a community college. I also work-- sometimes full-time/ sometimes part-time at a job where I am a contract employee--which means that I am self-employed--which also means that I am responsible for paying my own taxes.

So here is my question--since I am a full-time student, do I even have to file my taxes? And if so, am I exempt from anything?

If anyone could find any paperwork or anything I will even pay you!!!!

2007-07-18 06:46:50 · 5 answers · asked by Anonymous

I am getting the tax credit from buying hybrid, and I am wondering if the tax credit can be apply to property tax on the house I own. Thanks!

2007-07-18 06:44:57 · 5 answers · asked by Leon 2

My emploer delays giving me my W2 form for tax return. I used to work there as a part time employee last summer. I am back this summer and keep on reminding him every 3 days. He says, oooh, sorry, in a few days you will get it. This few day last since february. Any suggestions? Where should I call? I got an extension until september.

2007-07-18 06:23:12 · 5 answers · asked by Buselina 1

I'm not sure it's even possible, but what happens if I donate so much of my money, that the amount of tax deductibles exceeds the tax I owe at the end of the year?

2007-07-18 05:53:53 · 3 answers · asked by Anonymous

2007-07-18 05:27:13 · 1 answers · asked by Todd H 1

2007-07-18 04:47:28 · 3 answers · asked by Gucci 2

This is for a family of two.

2007-07-18 04:42:31 · 3 answers · asked by peaches7160 1

My company wants to pay out a small bonus for perfect attendance. What is the dollar amount you can give with out having to withhold taxes?

2007-07-18 04:09:32 · 2 answers · asked by Anonymous

2007-07-18 03:45:06 · 5 answers · asked by Anonymous

2007-07-18 03:06:40 · 0 answers · asked by cheapstakes 1

If you buy 5 ABC @ $10, the price goes down to $1, you then buy 5 ABC @ $1, the prices goes up to $6. You sell 10 ABC @ $6. So the gain you make is $5. While the average price is $5.50, are you still taking a loss on the 5 shares @ $10?

How is this reported on income tax returns? As a loss, gain, or both?

2007-07-18 02:51:19 · 6 answers · asked by Paper M 1

i clean for about 20 people. some pay by check some pay cash. i keep records of what i make as well.

2007-07-18 02:20:03 · 4 answers · asked by d23man 1

2007-07-18 02:00:27 · 4 answers · asked by Anonymous

Hi Tax Gurus! We are newlyweds w/ no dependents, and we have a question about our W-4 and State personal withholding allowance tax forms. Right now we are both claiming 0 for our withholding allowances on our W-4 and state tax forms, so we are both getting the max. taken out in taxes each paycheck and get decent sized tax returns.
What we would like to do is have less taxes taken out from each check rather then get money back in the form of a large tax return. Ideally break even and not owe or receive money.
Here are our questions:
1.) Being married, between the both of us, what is the maximum number of withholding allowances are we able to legally claim?
2.) Does the number of withholding allowances on your state tax Personal Withholding Allowance Form have to match the number of withholding allowances you claim on your W-4?
3.) Does the number of withholding allowances you claim on your W-4/State forms have to match the the number of personal exemptions on your tax return?

2007-07-18 01:21:40 · 4 answers · asked by ♪ La La La Not Listening... 3

2007-07-18 01:14:03 · 3 answers · asked by Stephen B 1

I recieved a letter that says

"The exemption is allowed under California law (Revenue and Taxation Code Section 218) and when granted will reduce the taxible valuation of your property by at least $5600 each and every year that you own and live in your property. This will reduce your annual tax bill from it's current level."

The advantage of doing this is for $25.00 it will lower my property taxes every year but is there any disadvantages? There are no plans on renting or selling my house nor do I do any business from home.

2007-07-17 22:30:13 · 3 answers · asked by stolsai 5

my employer is taking over 10%

2007-07-17 20:52:31 · 5 answers · asked by maria c 1

My "AROP" stands for "Account Receivable Control Options Table". I think it is a kind of tax (or tax refund). What is it and how do you get it??? Is it a kind of tax refund for senior citizens??? Pls help~! Thanks in advance!!

2007-07-17 20:42:13 · 1 answers · asked by bluesky 1

Can you file taxes, if you worked under other name, w2’s 1099, have someone else names but that person is me. I worked with other name, all I want is to pay taxes, because under my real name there are no earning and I sort of want to fix this problem what can I do? Does the irs will let me claim those earnings, and pay them back even though that is a name I made up?

2007-07-17 19:00:01 · 3 answers · asked by mdfrca7 1

If you work downtown and use the parking meters instead of the ramps, can you claim that on your taxes or do you actually have to use the parking ramps? Does anyone know the answer to this? And should your employers remiburst you or at least help you with a fraction of the cost?

2007-07-17 18:33:05 · 3 answers · asked by Anonymous