United States - July 2007

While reviewing my 2006 taxes, I realized that I made a mistake regarding the information from my 1099B form. This resulted in my overpaying. What form should I fill out to inform the IRS of this and get a refund? Thanks in advance for your assistance.

2007-07-15 07:06:00 · 2 answers · asked by Freddy Finger 3

What is the taxable difference in selling my stocks purchased via ESPP now, or in two years in the state of California?

I'm sure there are many factors, and I am willing to look them up, so even a pointer at where I can get this information would be helpful.

The ESPP stock purchase just happened. I know that selling them now is considered a disqualifying disposition. I know that I must retain them for a period of two years.

I made something like 70% on top of my contributions, so it seems very wise for me to just sell it, and take the additional tax implications, but I am curious as to what the difference might be, if I hold it for the two year.

2007-07-15 05:37:17 · 2 answers · asked by dugrocker 2

I live in CT. If i were to win 10 million dollers this year. How much would i have left after paying state and federal taxes.

2007-07-15 05:03:28 · 1 answers · asked by michael r 2

What happens to all the captial gains/losses from a 401k account. For example, say you start contributing to a 401k when you are 25 years old for 20 years and do the reallocating of assets (stock, bonds, fixed investments, matching stocks). I know while you have the 401K active, as long as the transaction is in a 401k, it's a non tax event. But what happens when comes time to cash in the 401K? Does the history of gains/losses count? To give a particular example, let's say right now, I have assets as stock funds, bond funds, interest income and company matching. Before I cash it out, I transfer everything to interest income for safety. How then does the taxes get treated? thx

2007-07-15 04:43:48 · 5 answers · asked by QueAndAy 1

I am self employed and owe 15k in back taxes and was wondering if those "settle your tax bill for pennies on the dollar" firms work or not. I know they use a legitamate IRS action to do it called an Offer in Compromise, but is it worth paying a company to do it when I cold possibly do it myself?

2007-07-15 04:02:37 · 3 answers · asked by outofsorts2 2

I am having less salary and i want to save money so that i can take after 3yrs for my kids education and home.Any tax benefit plans like 401k.

2007-07-14 21:49:04 · 3 answers · asked by tulip 1

last year(2006) my ex-husband files his taxes and claims that our son worked for him and my ex compensate him for $14,000.00. which is absolutely not true. my son didn't even work for him a day. he just did it so he doesn't have to pay a lot of tax. also my son filed his income tax and didn't file the $ 14,000.00. now my son gets a letter from IRS that he has to pay $4,000.00 tax on that. my son is 24 yrs old and works at the bank and he asked around and finaly one of the bank customer that knows a little about acounting, tells him he knows it's not true and knows that is not his foult but he has to pay that amount. Also my son feels bad to tell his father to pay the tax and doesn't have the money to pay it. pls help i need a proffetional opinion.

2007-07-14 21:38:39 · 7 answers · asked by Saba 1

does anyone know what the overtime taxes are for nebraska(omaha) and what regular taxes are for nebraska?(omaha), also federal tax.

2007-07-14 20:36:24 · 2 answers · asked by sweetgiggles1225 1

hey if im making 150$ a week how much would it be after taxes

2007-07-14 17:59:49 · 2 answers · asked by imadude 2

What are the percentage rates in PA? And how much should I set aside of whatever I take home at closing?

2007-07-14 17:35:41 · 3 answers · asked by Jason 1

U get like a partial refund or something. They take your most current paystub and figure your taxes.

2007-07-14 16:41:45 · 4 answers · asked by mandy 3

My little sister married a real loser last year. The guy has not really worked steady and now to make matters worse she just found out he has not filed in three years. Will the IRS garnish her wages? she has not changed her last name. He told he that he has paid tax from his pay check so why file.

2007-07-14 16:20:56 · 9 answers · asked by Happy and in l love 2

Like the title says, do I have to pay taxes as a self employed minor? I only use paypal and sell online. TIA.

2007-07-14 16:05:11 · 3 answers · asked by Jordan K 2

I just got hired at a debt settlement company, they are new, just moved in to a building. The interviewer told me we have no benefits right now and have to take our own taxes out, but later it would change. I will be working 40 hrs a week 8-5, mon-fri.
I just wanna know if this is "illegal" in some way or is the company trying to get out of paying other taxes that pertain to its employees. I dont know much about this but I thought it was suspicious. Should I take the job?

2007-07-14 15:26:40 · 14 answers · asked by Anonymous

Each year we get about $500 back from NYS. Starting two years ago we have itemized, so we have to declare the refund amount as income and get taxed on it by the IRS. We were told it is illegal to increase our withholdings from our present correct 2. Our taxes are pretty easy since all we own is a co-op. My job claims they are deducting the right taxes. It seems somehow the IRS is penalizing us for overpaying our NYS taxes. Is this just the way it is?

2007-07-14 13:39:40 · 4 answers · asked by SirNight 1

i was just wondering this coming january 2008, when it's time to file for income tax again.......cause i got previous jobs that lasted only 2 days, some are 1 week, and another is 3 days only, should i claim an income tax return on everything that i actually worked eventhough it lasted only a day? or 2 days? or not even a week? or should i just ignore them and just file for the one that i actually lasted on?

2007-07-14 13:39:17 · 6 answers · asked by nofool 1

If I sell my supermarket, I mean only the business because I don't own the property. Do I have to pay capital gain. I purchased my business in june of 2005 for $120K and now sell price is around $1.2 million, yes I have improved it this much. Now I have two concerns, first how much taxes do I have to pay, and if I can do 1031 exchang how much time do I have to find a bussines to buy. How can I legaly avoid paying tax.

2007-07-14 09:39:21 · 2 answers · asked by nooni 2

For the last two years and some months, I worked as a self employed contractor. The company I worked for gave me a 1099 miscellaneous at the end of each tax year.

Well, at the end of the first year, I filed my taxes. I am still paying on them in monthly installments.

Well, I got my 2nd year's 1099 miscellaneous, and never filed my taxes. The deadline was in April 2007 of course. It is now July.

My income for each year was less than $17,000. I got ripped a new one when I filed my taxes the first year of this job.

I have never been audited before.

I no longer work for the same company, and will never get another 1099 miscelaneous from them. I am thinking about letting this go, and avoiding filing my taxes for the second year at all. I simply can't afford them. If you are considered self employed, you get such a huge tax bill it's unbelievable.

Does anyone have any idea, what are the chances of my getting audited for this?

2007-07-14 09:37:08 · 6 answers · asked by Anonymous

Just wondering if I will be able to get the credit on my 2007 taxes..having bought the 2005 Honda Accord (used) Hybrid. How does that if at all work?
Thanks

2007-07-14 09:30:36 · 4 answers · asked by Shauno 2

My mom always does my taxes, and this year she said she was going to claim me and my son so she would'nt have to do as much paper work and she'd just give me the money. She gave me five hundred at first and said she only got a grand and didn't want to give it to me all at once. Does this sound shady, and is she even lying about the amount because I wouldn't know?

2007-07-14 09:17:03 · 8 answers · asked by Anonymous

The IRS rejected the W7 for my non-resident alien spouse because the notarized copy of her passport did not include an apostille. She is from China, so I'm not sure they will issue an apostille, or if so, that the IRS will accept. What is the best way to get a certified document they will accept?

2007-07-14 09:14:31 · 4 answers · asked by Anonymous

I have been unable to find the answer anywhere.

2007-07-14 07:41:13 · 2 answers · asked by Candy 2

Can anyone actually provide evidence that their arguments actually worked when you were audited by the IRS? Please provide the link to your case.

2007-07-14 03:52:32 · 3 answers · asked by Steve 6

I do receive minimal support from the father. They stay with me all the time visit him a couple times a week for a few hours never overnight. I provide the home and everything that goes with it, food, lunches at school, clothes, allowance, sports fees and everything that goes with them, half medical bills (which he is not paying his half back to me), transportation to everything (24 mile round trip to the school). I've put this all on paper and I'm providing 85- 90% of their support.

2007-07-14 02:59:11 · 8 answers · asked by Anonymous

2007-07-14 02:26:28 · 10 answers · asked by Anonymous

Hi:
I have a small business and buy a fair number of books over the internet related to my business. Since these are transactions that show up on my credit card bill, I usually record them in an Excel worksheet for tallying up at year end [and save my credit card statements]. Is that enough or should I be printing out a receipt from purchase e-mail confirmations as well?
thanks for you help

2007-07-14 02:01:57 · 3 answers · asked by Anonymous

just the minimum pay is what i want to know..

2007-07-13 20:33:46 · 3 answers · asked by Anonymous

2007-07-13 19:02:33 · 9 answers · asked by ............... 6

customers in the US. Keep 10% and send rest to the international company thru my bank account. Is this legal business or money laundering scheme.
Suggestions?

2007-07-13 18:43:27 · 9 answers · asked by sb 1

Do you think this is being held to it's highest potential?
Of course a few people are gonna' get away with tax evasion and tax fraud but do you think the rich fvckers on their high horses are being taxed more then we are?
Do you think Bush and Cheney actually pay the due amount of taxes they owe each year or do they get some sort of break?
Do you even believe in progressive income tax?
ARE YOU EVEN THERE?

2007-07-13 18:30:46 · 3 answers · asked by Anonymous