United States - July 2007

i am starting a small bussiness and i am going to file 1099. my question is what form does the employers have to file or do they when they are hired?

2007-07-12 12:11:22 · 3 answers · asked by Anonymous

I have a LLC and would like to set-up another owned by the first. How would the tax process work? I would appreciate any info.

2007-07-12 11:57:54 · 4 answers · asked by ...Chikita..... 1

The IRS sent out a notice for income tax return for my father two years after he passed away. The name on the notice was
Deceased ( First Last Name)

The letter does not allow the notification that the respondent is dead. The Spouse, yes. It insists that he respond to the notice. I would like him to respond also. I miss him. But is the IRS that dense that Deceased does not mean dead? They even replaced part of his name with Deceased. We have previous years that the IRS has already stated that they acknowledge he has passed away. The government sent out military recall notices to KIA. I guess the IRS thinks they have higher powers than GOD and can force people to report to them.

2007-07-12 11:10:10 · 4 answers · asked by ski bumpkin 1

i had a temp job that only suppose to last 5 to 10 weeks good job my child got sick had to resign anyways i file on 6-5-07 its 7-12-07 i still havent heard a decision yet accept keep filing until we reah a decision

2007-07-12 10:39:12 · 6 answers · asked by aleasha1977 1

I work in sales and receive a base salary plus quarterly bonuses. It seems that my bonuses take a higher tax hit versus my wages. I've asked for clarification and have received conflicting answers: 1) Bonuses are taxed more up front, but then they are lumped together on the W-2 form at the end of the year and all of my earnings are taxed the same, or 2) Bonuses are considered specialy payments and thus more taxes are withheld. Does anyone know which is correct?

My company is offering to let us go to straight commission. I'd still be an employee (not a contractor) and would receive a w-2 form. Although the earning potential is somewhat higher I'd like to know if the tax rate will also be higher.

Thanks!

2007-07-12 08:32:07 · 9 answers · asked by SFDriver 1

If the husband lives and works in one state and pays a mortgage, and the wife lives and works in another state paying another mortgage; what is this called (besides a lousy set-up). Which home is the primary residence (can there be 1 for each person)? Can they file as singles (since these are abandoned spouses)?

2007-07-12 07:09:46 · 3 answers · asked by Chemical Bros 2

Since workers have no guarantee of receiving one (gratuatity), or at times receive less than 15%, how is it they are taxed? What other countries place tax on tips, gifts/gratuaties?
Technically, is this legal?

2007-07-12 06:46:05 · 8 answers · asked by mr d 1

2007-07-12 06:41:35 · 8 answers · asked by ? 5

I am 23 years old and social security takes out more money then everything else except federal. Should we really have to pay social security when we might not ever see it?

2007-07-12 06:15:06 · 9 answers · asked by cwop357 1

Lets say you have not worked in over 7years then you start a new job and about a month or so later one of your pay checks bounce. then you find out that you were being paid less than minimum wage when you confront your employer he tells you its because you are being paid under the table! you request to be paid legally. Then you slowly but surely get sqweezed out and it has now been several months and your ex-employer has still not honored the bounced check and gives you another bad check for the payroll adjustment. He does however manage to give you your final check through a different account. what would you do now?

2007-07-12 05:36:03 · 12 answers · asked by inquirer 1

I did not file taxes for 2006. I plan to file them next year along with my other taxes...Can something bad happen to me? Any experiences? Thank you.

2007-07-12 05:11:49 · 10 answers · asked by bg4804 2

Okay here's the situation. I work overseas and when I file my taxes I file a 2555 Foreign Earned Income Exlusion with my 1040. In previous years I've declined having taxes withheld because I knew I would meet the requirements for the Foreign Earned Income Exclusion.

This year however, I wasn't sure if I was going to stay overseas so I've been having taxes withheld. I was talking to a coworker who told me she had taxes withheld for the same reason last year but met all requirements and when she filed, instead of getting the $14k + back she only got around $700. I called the IRS and they said I should get it all back, but, it is the IRS we're talking about here.

So, on one hand I have the IRS telling me Ill get it back and on the other I have someone telling me from experiance I won't.

Does anyone have knowledge of this and if so what do you suggest?

2007-07-12 04:59:35 · 3 answers · asked by Anonymous

If I provide childcare for my neighbors, what items in my home that I use to care for children are considered to be tax exempt items?

2007-07-12 04:24:55 · 5 answers · asked by Thumper's Mom 1

2007-07-12 03:50:34 · 5 answers · asked by greedy 1

I've jumped ship away from engineering and am now doing taxes full time. I'd like to know what you suggest doing to prepare for the EA exam (classes? books?). What tax software do you use? How do you know how much to charge? Do you offer electronic filing? Do you offer RALs and RACs? How do you protect yourself from lawsuits?

Any info at all will be much appreciated. You all deserve "best answer", so please do be offended if I give it to someone else.

2007-07-12 02:33:39 · 6 answers · asked by TaxMan 5

Can some one tell me in simple terms what a small business tax write off is I think I know but it sounds to good to be true.

2007-07-11 22:44:58 · 3 answers · asked by Brian H 2

I have the receit with me with the amount of $63.00 and on my statement says they taken out $83.00, my bank gave me back that $20.00, but Im thinking of reporting this to some kind of Fraud Authourity, cause I'm sure that they've been doing this and probably will do it again to someone else..

2007-07-11 21:41:40 · 4 answers · asked by Convict 2

is there tax if you were to buy something from texas to california

2007-07-11 19:43:18 · 5 answers · asked by reaper1694 1

Are there any assistance programs to help me pay my property taxes? Only serious answers pls. Thanks in advance!!

2007-07-11 19:00:21 · 4 answers · asked by Helen D 1

I'm trying to budget my money well to save up for college. I make 74.25/day. Or well 8.25/hour. I'm a student in high school and I live in New York. I know my boss will be giving me a W-2 and I'll be claimed with either 0-1 dependents.

I tried calculating it on paycheckcity, but I'm not familiar with a lot of the tax terminology yet. In the end, the amoutn of taxes being taken out seemed too little.

I just want a rough estimate of the percentage being taken away. Thanks.

2007-07-11 16:35:17 · 5 answers · asked by tori l. 2

2007-07-11 15:08:20 · 5 answers · asked by April C 1

Let's say you realize a $100,000 long-term capital gain on a stock sale in a particular year. This is taxed by the federal gov't at the 15% long-term rate, right? But is it also taxed by the state (NY in my case)? I think I read this $100,000 is taxed by the state as regular income. Wouldn't that result in a huge tax liability? I kinda thought the 15% rate was the whole deal. If it's also taxed by the state as income, the effective rate is really well over 15%!? Can anyone shed some light on this? Any reference materials I should check out?

2007-07-11 14:58:16 · 6 answers · asked by slans 1

My weekly 40 hour paycheck has been written for $262.76 for almost a year, now. I make $8.25/HR. I gross 330.00 per week. Does this seem right??

2007-07-11 14:41:00 · 4 answers · asked by Stephanie S 2

This is my 1st job in California. I am married with working spouse and no children. I entered myself as "1" in the worksheet A and claimed my spouse as "1" in worksheet C. The total allowance claimed is 2. In column 3 I checked Married. Can anyone tell me what I did is correct? Will I owe money at the end of the tax year? Will I get a penalty? I earn $1k a month.

2007-07-11 13:45:24 · 5 answers · asked by Silly Pumpkin 1

I live with my fiancee and we have 2 children together. He made more money than I did last year. By itemizing deductions and such he only needs to claim one of the children to break even this year. Can I claim the other child, file head of household and claim the earned income credit?

2007-07-11 13:36:39 · 14 answers · asked by Anonymous

My mother and I agreed to go in together and buy a home and split 50/50. She paid her half in cash, $62,000.00, and I financed my half. The mortgage co. wrote her "half" as down payment, and labeled it "gift fund from mother". Is my mom going to have to pay gift taxes on this amount now? What if I "sell" the house to her, would that alleviate her from the gift tax?

2007-07-11 12:22:28 · 4 answers · asked by WANDA B 1

I know someone that earns 10000.oo to 12000.00 yearly and does not do income tax yearly.

2007-07-11 11:48:38 · 5 answers · asked by maggie 1

Hi everyone , i been montioring my credit for a few years , Now on my Credit report its shows something from 2003 , it never showed it before .. It says NYS TAX COMMISSION., I called the irs and they said i paid my 299 i owed them in 2003 but it now shows on my credit report as unpaid.. Whats the best way to get rid of this ?

2007-07-11 11:27:12 · 2 answers · asked by bigantdog22 1

I am a Canadian residing in Canada and I have been asked to do some work (web-related) for a US company. It's a small amount of work (probably around $3000 US). Do I have to file a US income tax return and do I need an ITIN number?

2007-07-11 10:23:29 · 2 answers · asked by Steve E 1

2007-07-11 10:16:20 · 8 answers · asked by Bonnie 1