United States - July 2007

2007-07-30 16:45:36 · 4 answers · asked by mssmss1 2

2007-07-30 16:30:59 · 11 answers · asked by hanna 1

2007-07-30 15:17:57 · 5 answers · asked by fa98 2

I need to know how to report certain types of information returns for an LLC taxed as a Large Partnership (1065-B and 1065B K-1)

If I filed Regulation A with the SEC and became temporarily public, would each investor (does not actively participate) who receives a membership unit report their capital gains (distributions/earnings) on a 1065-B K-1 or a 1099-DIV

2007-07-30 15:07:53 · 2 answers · asked by CompLLC 2

Presidential candidate Mitt Romney asked in Yahoo Answers about improving our income tax program; quote –

How can we change the tax code to ease the burden on our families and promote growth and innovation?

There were a number of good answers but I never had a chance to respond. How does this sound to you?

I think it is time for a flat tax. Using the last five years as a base, determine what the real tax amount was for each taxable category. We do not pay the actual tax base but reduce taxes using various exemptions and write offs. Unfortunately we do not all get the same benefits, have the same ability to pay high paid tax lawyers to reduce our taxes, or have benefit of all the tax loop holes. After identifying the “Average Tax” actually paid the IRS should establish that as the amount of taxes we pay. There would be no exemptions for personal taxes except for medical insurance and catastrophic medical costs. A person could gain the catastrophic medical exemption for themselves or a member of their family or through a certification that they paid for the catastrophic medical needs of another person.
This would probably not cut too deeply into the tax income required by the government to fund necessary programs. It would make tax payers more honest and reduce the burden of doing taxes and letting select people get away without paying any tax.
I also think people should be taxed based on their accepted category. A person earning more than $500,000.00 per year should have to separately claim any money gained through bonuses, performance awards or whatever and be taxed at a separate rate of no less than 60% of the additional. Those people who are then paid millions of dollars a year would pay personal taxes like anyone else but would have to pay a separate tax on excessive income not actually considered as wages; some have recorded earning of more than a million dollars a day, many over a million a month. This usually occurs in corporations where many people are working at minimum or near minimum wages.
I would also suggest a national sales tax of no more than 2% on everything but food, medical, gasoline and heating fuel. This is a fair tax, you pay on what you buy; for those who pay $12,000.00 for a car they pay far less tax than the person who can afford and does buy a $65,000.00 car, and neither has a loop hole to escape the tax.

2007-07-30 14:35:57 · 4 answers · asked by amnestiswrong 5

Attorney Tom Cryer just beat the IRS in a court of law!
http://www.youtube.com/watch?v=EgbYkElqxw0

2007-07-30 14:33:01 · 8 answers · asked by Anonymous

2007-07-30 14:26:02 · 4 answers · asked by Marilynn S 1

2007-07-30 13:55:35 · 2 answers · asked by Mr. Football 1

I am new to filing taxes and I live in California.Can I deduct the total amount I have paid in state income tax from the total amount I owe in federal income tax on my tax return?

I am filing as a single person.

2007-07-30 13:55:15 · 6 answers · asked by steve j 1

I have a small business. I recently received a tax statement assessed by my county for "unsecured property tax", which includes tax on just about anything I use for my business. When I read this I could just not believe it. Is this legal? How can they tax me on my property, like my desk, or my car that I use for personal use and work? Isn't it enough that I paid taxes on all that stuff when I BOUGHT it, and the fact that I pay income taxes as well? Where do they get this stuff????

2007-07-30 13:40:31 · 3 answers · asked by Anonymous

2007-07-30 13:29:35 · 3 answers · asked by daiberino 2

2007-07-30 12:39:20 · 1 answers · asked by patrikios2 1

2007-07-30 12:38:14 · 2 answers · asked by patrikios2 1

I would like to work for a firm that helps clients settle claims with the IRS for pennies to the dollar. Where would I find these companies and what position would I apply for?
Please, if you do not know, do not respond.

2007-07-30 11:56:22 · 2 answers · asked by Robert M 1

I don't understand tax deductions. They're good for reducing your taxes, but then, spending money on lots of stuff isn't exactly good for my wallet. So is there some sort of expenses sweet spot or what?

2007-07-30 11:26:57 · 3 answers · asked by Marc 2

What numbers on my tax returns can help me figure out what my tax bracket is?

http://www.irs.gov/formspubs/article/0,,id=150856,00.html

shows that I would be in the 25% backet, but according to my calculations. (total tax state +total tax federal) / ajusted gross income. I only paid about 12%

2007-07-30 11:24:24 · 4 answers · asked by JustWanaKnow555 2

and another question after the accident my car is total loss and the insurance company pay 11000 for my car do I need to pay tax for that. thanks for your time

2007-07-30 11:20:02 · 6 answers · asked by Phong K 1

My mom passed away about a month ago in Romania and I inherited an apartment. I sold the property 5 days after my mom passed way. I've already paid a sales tax in Romania. Do you have to pay IRS tax on the inheritance once i wire transfer the money from Europe to the US? Please Help..Thanks

2007-07-30 10:39:52 · 3 answers · asked by Anonymous

2007-07-30 10:14:45 · 8 answers · asked by marissa g 1

2007-07-30 09:54:13 · 2 answers · asked by Curious 1

2007-07-30 09:45:40 · 4 answers · asked by angel_rat_83 1

My grandmother in Hong Kong left me around US30,000 in her will. My father is going to be wiring the amount to my bank account here in the US soon. Will that money be subject to an inheritance tax or any sort of tax? Also, is wiring the money the best way to transfer the funds? Thanks in advance!

2007-07-30 09:25:31 · 2 answers · asked by blutails 1

I just bought a house, and am planning on buying a few more for investment purposes. I may sit on them a while, buy when the market is bad, sell when values go up, etc. My question, is how do the taxes work. I know there is a property tax and a school tax. I think school tax is 1% of your income, and property tax is like 3% of the houses value. My question, if I own 5 houses, do I have to give 5% of my income to school taxes? Would that make it impossible for anyone to own more than 100 houses? If you're only supposed to pay taxes to the school district that you actually live in, should I get my money back for currently paying for two districts? The house I just bought is in Pittsburgh, PA, and the place I'm actually living is in Westmoreland, co.

Please explain how the taxes work, maybe I'm wrong the parts I think I know. Thanks.

2007-07-30 09:25:17 · 5 answers · asked by Antonio Banderas 2

Small business, owner pays me under the table 8/hr. He says it's like being paid 10/hr. But I believe he may be benefiting from this in some way through tax breaks. Could he be?

2007-07-30 09:07:48 · 8 answers · asked by Anonymous

2007-07-30 08:43:48 · 6 answers · asked by romele s 1

We got an IRS tax refund check and its in both their names. How do I go about cashing at least part of it without her involvement, since she has moved out of the country?

2007-07-30 08:29:17 · 5 answers · asked by andromeda74 2

2007-07-30 08:16:16 · 1 answers · asked by Aspiring ... 2

Should they remain permanent?

2007-07-30 07:37:15 · 9 answers · asked by J.R. 2

THANKS for any help. If you know of a site where I can figure this out let me know :)

2007-07-30 07:08:11 · 2 answers · asked by meghananne23 4

I worked with a company for four years and decided to leave because there was no opportunity for personal development/promotion. I left without giving my two weeks, now I'm filling out resumes and am wondering if a voluntary resignation is the same as quiting. I imagine resigning like something you formally type out or a form you fill out after many many years with a company, most likely because of retirement. So is it the same thing or not?

2007-07-30 07:02:38 · 8 answers · asked by sailormercury_utopia 2