United States - July 2007

Jsut as an example lets say I make $1000 a month, how much will I need to pay to Federal (we have no state in TX), SS & Medicare & anything else I may be missing.

Also anyone who is in this situation, is it better on the taxes for you so far?

2007-07-04 17:00:06 · 2 answers · asked by HG 1

2007-07-04 14:50:10 · 4 answers · asked by trouble 1

I live in PA and was found eligible for renters rebate. I filed in Feb. When are checks distributed?

2007-07-04 14:28:28 · 1 answers · asked by countrygirl0413 2

2007-07-04 14:28:15 · 1 answers · asked by alfacr 1

I have not found anywhere in the IRS code book under any section that the incometax refe4rs to indivdual.Only to corporations and members of the corporations.

2007-07-04 12:32:32 · 7 answers · asked by DRK1946 2

I'm a first time home owner and really need to move. I've owned the home for about a year, and am just learning about the capital gain tax. Trying to decide whether to try and stick it out one more year to avoid the tax. What are the percentages for short and long term capital gains, and which of the 2 will save me the most money? If I sell immediately the short term would apply, and if I wait a few months, the long term capital gain would apply.

2007-07-04 12:29:50 · 4 answers · asked by Jen1943 1

Im a long island taxi driver which mean Im a private contractor and I dont no what to do to pay my taxes. Everything looks so complicated..any suggestions?

2007-07-04 11:43:50 · 3 answers · asked by charlottenwendynoreontiger 2

2007-07-04 10:21:27 · 1 answers · asked by david l 1

I've heard people refer to such a law when talking about "crazy tax cheats," but no one seems to be able to cite the pertinent legislation. WHERE IS THIS LAW?

2007-07-04 09:54:38 · 9 answers · asked by Shawn H 1

i filed for last tax year in january..... i want to know if i can file on this years taxes now in july and again in january and still get a return this month... like half if it... basically i am desperate for money... can i go to h and r block or jackson hewitt or something and file for this 6 months? and get a return?

2007-07-04 07:29:44 · 3 answers · asked by sarah m 2

Just wandering if i have to pay any taxes or give any info to the irs, if loans are considered as gifts?

2007-07-04 05:35:15 · 2 answers · asked by didnotknow123 2

2007-07-04 03:53:46 · 2 answers · asked by ? 3

I just got my first job, and I figured that if I work 28 hours a week, I could make $196 a week.

I'm trying to budget my money so that I can save up for a car, so I need to know what percents and stuff the government will take away from my paycheck.


Any help would be awesome. Thanks.

2007-07-04 02:53:02 · 7 answers · asked by Liz D 1

2007-07-04 02:52:47 · 9 answers · asked by IRSTAS 4

As a US citizen, I am doing freelance work for a German company in Germany. Do I need to pay US taxes for this work if I am not working/living in the US?

2007-07-04 01:13:00 · 4 answers · asked by Anonymous

For the self-employed, which figure would a lending institution make their decision from, my gross revenue, or the adjusted gross (after expenses)? To telll you the truth its a big margin.

2007-07-03 21:56:31 · 4 answers · asked by nomad69 1

if i open a bar - can the rent be a tax write-off as im paying it for the buisniss ?

2007-07-03 17:54:30 · 5 answers · asked by EXZO 2

I Wanted to know,how long it would take a package to get from Greenville,Texas to Warren,Ohio.REFER TO MY OTHER QUESTION:
http://answers.yahoo.com/question/index;_ylt=Ark6FmXhv2er0gJ9ZIC24fHsy6IX?qid=20070703202428AAn3qQr

2007-07-03 17:33:42 · 2 answers · asked by Anonymous

we earned our pensions while working and residing in a non-community property state Ill. Husband on social security but I am not. taxes were paid on his wages before he retired. For 2 months now the IRS has been trying to convince me to believe that by calculating my annuity with his S.S.to determine how much it will be taxable is NOT DOUBLE TAXING!.... besides insulting me by saying my annuity is income to my husband, they had the nerve to say I can't exclude one-half of my benefit as he does.After using my item to help insure that his S.S. will be TAXABLE,they expect me to return my aunnity back to line 16b to be taxed along with an additional $9000.....[taxable S.S. as a result of using me to rip my husband off] Who is that S.S. worksheet designed for..?. I believe it is for all my husbands' additional pension wages..etc to be calculated not mine.According to tax publication 555 we live in a Non-Community property state. Do these laws count?IRS won't give a clear answer.JUST PAY !

2007-07-03 17:06:07 · 4 answers · asked by skyy 2

Im trying to figure out what I shouldnt claim on my W-4 to not have too much money coming out of each paycheck but not too little and same for end of the year.

2007-07-03 16:40:15 · 5 answers · asked by brittani8502 1

Greenville,Texas If It was mailed on Monday July 2nd,2007 From Ohio?

2007-07-03 16:24:28 · 2 answers · asked by Anonymous

I receive foodstamps, and Ive heard somewhere before that welfare is NOT taxed. Is this true?. Do I have to claim my foods stamps as money i receive, is there anywhere where i check that i receive welfare on my tax return?

2007-07-03 14:00:56 · 5 answers · asked by ProudMoM 2

My company did it automaticly for me as a 2. I am single and live alone? should i change it?

2007-07-03 12:59:41 · 9 answers · asked by MICHAEL P 2

I currently make around $50K but I live in the San Francisco Bay Area, so that isn't that much due to the high cost of living. I love painting and have decided to start a side business selling my work.

I plan on making between $5k - $20K this year from the business. How much am I going to have to pay in taxes on this additional income? I am not married. From the research I have done, is this info accurate?

Federal Tax = 25%
California State = 9.3%
Self Imployment Tax = 15.3%
Sales Tax = 8.25%

Total = 57.85% (not including insurance for business, extra licensing, permits to sell work, and the ton of other business expenses)

This is starting to scare me and I am wondering how anyone can ever make a profit? Please help...maybe I won't go into business, it isn't worth my time to only pocket 10% - 20% profit. I don't want to be making less than minimum wage with the skills I have!

2007-07-03 12:38:40 · 6 answers · asked by Erik 1

Is the money I use to purchase Municipal bonds considered tax deferred until the bond has matured?

2007-07-03 12:22:45 · 3 answers · asked by Julie P 1

In california, and if I fill out my withholdings form correctly (no tax liability and no refund at end of year). Trying to set up budget for a job starting August 30.

2007-07-03 11:35:18 · 4 answers · asked by Jared 1

I am expecting my first-born child in February 15, 2008. What I want to know is in General what is the stander tax deduction for a baby? Also what if any can I deduct for my HMO
Co-pay?

Thank you,
JobG

2007-07-03 10:20:44 · 6 answers · asked by PhillyGuy 3

I'm going to work overseas for a company who says I will have to pay all taxes, I am going for 3 months periodsbwith one month in between. what taxes and where can I find the info.

2007-07-03 09:56:20 · 3 answers · asked by pjrob52 1

My husband and I recently took new jobs and have to fill out the w-4's for taxes.

We file jointly, own our home, have a daughter, and like to have plenty withheld to cover our taxes at the end of the year.

If we both check married, no exemptions on the w-4, will we likely have enough withheld by the end of the year to cover everything, or should only one of us claim "married" and the other check "single". I don't want to make a mistake and not get a refund next year, but also want to make sure the govt isn't getting too much extra of our money...

Thanks for the answers.

2007-07-03 08:37:01 · 3 answers · asked by Jenni M 1

I have a sole prop and park my equipment in the yard. The equipment is destroying the grass so I was going to pay and have my driveway extended so I could have a place to park my equipment. I am claiming the In Home Office expense already. Can I deduct the cost against my business? If so, how? Would I need to have the business pay me personally rent for the use of my personal area and then deduct the expense against any rental income I choose to "have the business pay me"?

2007-07-03 08:19:45 · 5 answers · asked by David S 4