United States - July 2007

I sell in ebay and made a total of $27,064.99 I did not make any sales in my state (California) Only out of state sales. So I don't owe any Taxes. Okay my question is that
Out of those $27K that I made in sales do I have to take away of what I had to pay for the item?
Example I sold a ring for $3,000 but it costed me $1,000 do I only claim $2,000?
Do I claim what I paid for shipping that I had to pay for sending the item to my customer?
What do they mean by deductions? Thanks

2007-07-31 09:58:57 · 3 answers · asked by Anonymous

I have taken an enormous business loss for a business I had filed as a corporation. How do I show these losses in my tax returns? I need to know what the best way to handle this is. When can I post the losses? Only after the loss is realized (when the business is sold)? How much of the losses can I show in a single year? I am praying that there is some way to show this on my personal taxes, as this is a total loss of a small fortune. Thanks for any and all advice!!

2007-07-31 09:18:31 · 4 answers · asked by Tom C 1

i am 16 year old living on my own in B.C. Canada and i have no idea if i can collect me child tax credit from the government so any1 that would know how to do that plse oh plse let me know it would help oh sooo much

2007-07-31 09:06:35 · 3 answers · asked by Anonymous

no right offs just a flat tax.

2007-07-31 09:00:23 · 6 answers · asked by Anonymous

2007-07-31 08:55:06 · 1 answers · asked by Lolly 3

I don't know how to fill out the tax form and I want to go to a tax expert can something like H&R Block help me with it How much do they charge for that service?
I know there is a 10% penalty for filing past the due date. How long can you go with out paying taxes I need about two months will the penalty rise every month?

2007-07-31 08:52:08 · 4 answers · asked by Anonymous

I normally claim 4 on my tax and when tax season come i claim 3. but now the 4 dependant are working. So when tax season can I claim just 1 so I wont have to pay back.? I claim head of household too.

2007-07-31 08:30:39 · 6 answers · asked by Laos 1

We are still married, but in the process of divorcing. He filed married/ separately for 2006 and someone told me that because I am still legally married to him, I can get a copy of the tax return he filed for 2006 just by knowing his social security number. The reason I even care is that he's working under the table, trying to avoid paying child support, and not responding to any of the divorce papers, making it difficult for me/ my lawyer to proceed with things. Does anyone know how I can obtain access to his tax records? Is it even possible?

2007-07-31 07:52:34 · 4 answers · asked by Anonymous

We've been married since June and would like to know if we can file as married on our work place w2 forms. Thanks!

2007-07-31 06:55:37 · 6 answers · asked by Anonymous

My accountant was always really good up until this year when he kind of went off the deep end with some personal issues. He assured me that he'd file my business return on time and when he didn't he assured me that he filed an extension. Today I received notice from the IRS that there was not an extension filed and that I owe $450 due to my return being filed 3 months late.

What recourse do I have? Will the IRS take into consideration that my accountant failed to do his job and basically lied to me about filing the extension and possibly reduce/waive the penalty? Do I have legal recourse against my now former accountant? Any sound advice would be most appreciated.

thanks.

2007-07-31 06:41:34 · 12 answers · asked by Chuck P 2

I lost a pretty penny to the IRS. Is their certin conditions you have to be under in order to be "dismissed" on taxes?



no mean comments please, thanks! - j

2007-07-31 06:27:50 · 9 answers · asked by Anonymous

I received a letter a couple days ago from the gov about 3 years of unfiled taxes. I've never made over 5000 a year from part time jobs. I've always been a full time student and my parents still claim me on their taxes. What should be my next step

2007-07-31 05:59:29 · 11 answers · asked by BonneChance 3

2007-07-31 05:41:14 · 3 answers · asked by ROB 1

If you are self published but marketing your book can you deduct your expenses as a business expense?

2007-07-31 05:33:12 · 4 answers · asked by Patrick B 3

I was out for 4 days one week this pay period and my employer is deducting those days from my salary. They said it is because I did not have enough time on my job but we do not have sick benefits here so I am not sure what that was about. Is that even legal if I am on a salary??

2007-07-31 05:28:37 · 14 answers · asked by jackandjenninaz 2

2007-07-31 05:18:15 · 5 answers · asked by Kat t 1

My wife and I have had several significant changes in our lives in the past year. For instance, we will not be receiving the mortgage intrest credit, the child care deduction as well as the deductions for business expenses.

Is there any way to know if we are paying in too little or even possibly too much.

Last year with all the deductions, we received a 2k refund filing married, joint with 2 children.

So far this year, I have filed Married, with 0 deducts, and she is filed married w 2 deducts. How can we know if we are paying enough in taxes to avaoid penalties as well as a hefty tax bill come next year?

2007-07-31 04:55:25 · 2 answers · asked by Jason W 3

this is for an online business. i know you dont charge sales tax to people outside your state...but is it for the Billing Address or the Shipping Address?????/???//

(If my business is based on out of MASS, and a person who lives in CALIFORNIA but goes to college in MASS buys an item, do they have to pay sales tax?

What about a person who lives in MASS but goes to college in CALIFORNIA?)

2007-07-31 04:54:15 · 2 answers · asked by mike 1

2007-07-31 04:27:13 · 4 answers · asked by Anonymous

If someone has income from stocks of less then the current federal income tax reporting requirement for "salary/wages".. and the stocks are there only form income.. do they still need to file? or just like if it was wages income do they not have to file? anyone know.

2007-07-31 04:11:46 · 6 answers · asked by Anonymous

My dad has just moved into a senior home and I was covering his costs for a couple of months. My mom passed a way while the house was in escrow.
He received the proceeds from the house sale and deposited it in his bank.
Can he just write me a check for the costs of everything I've covered for the last year? Rent, moving costs, etc... less than 20K.
My name is also on the account that the money was deposited into so I could just write a check to myself.
Any problems with this?
Thanks

2007-07-31 03:33:37 · 9 answers · asked by Pete 1

I have been waiting since April and recently I have been phonng them everyday wondering why it's taking so long and I don't get any sense off anybody. I need the money desperately as my job finishes on Friday. I have applied for tons and tons of jobs and none yet! I don't want to be homeless!

2007-07-31 02:50:59 · 9 answers · asked by Anonymous

Hey guys,
I was worndering how much can you write of as a business when you donate stuff.
How much you can write off charity?
I 'm donating some stuff from our business that won't sell to salvation army and we gonna take it as a loss or write off as donations.
I just want to make sure there is limit when you claim.
thanks

2007-07-30 22:40:05 · 2 answers · asked by Anonymous

2007-07-30 21:29:42 · 3 answers · asked by midas 3

2007-07-30 20:22:26 · 3 answers · asked by ashley_tisdale2006 2

I have been a part time delivery driver since I have started college and as a driver I have always been told to claim my tips at the end of the day as $1 per delivery.

I have done this for the past three years now my company is changing their policy and saying I have to claim $1 per cash delivery, and claim all tips on checks and credit cards in full, which lately has been averaging me anywhere from 50% - 85% of my tips and is taking chunks out of my paycheck. There have even been nights where managers have made me claim more than what I have actually made because the new policy is flawed where I don't average $1 on all deliveries. The new policy has only been enacted for about a month and we have lost 5 employees over it.

My question is what is the legality of them forcing me to claim tips and what is a more proper tip claiming policy that I could bring up to my managers. Any direction to posted documents on the web would be appreciated.

2007-07-30 19:06:01 · 4 answers · asked by erectuswow 2

2007-07-30 18:29:45 · 5 answers · asked by chaka333@verizon.net 1

a company offered me a relocation bonus of 10,000 but ihave to sign an agreement that i should stay with them for at least 24 months. which i did signed. out of the 10,000 i just got around 6,400 due to taxes.. now after 2 mos i have to leave the company for some reasons. they want me to return the entire bonus pre-tax. so it turned out i'm 3600 short of that amount. i know i should've not signed that thing. but, is there any way i could refund that 3600 from uncle sam. and not feel bad 'bout what i got into. thanks..

2007-07-30 17:57:57 · 3 answers · asked by justine30 1

I figured about $15.00 a week which would be like making $5.00 an hour. What do you think? Does this sound about right? Which would be $75 a month and $300 a month. Keep in mind I got a C in math so dont make fun of me too much if this is wrong.

2007-07-30 17:43:54 · 3 answers · asked by JDAWG 2

Can someone show me the appropiate way to format a letter of this kind. This is my first time having to deal with an issue like this and I want to make sure I get it right the first time.

Serious Answers ONLY I do not have time to play games

2007-07-30 17:21:42 · 4 answers · asked by latovat 3