United States - August 2007

2007-08-31 19:43:13 · 3 answers · asked by Anonymous

I am selling 3 acres of land for a substantial gain and would like to avoid paying 30 percent of my selling price in capital gain taxes. Are there tax breaks that allows for reinvesting without taking a big hit in taxes?

2007-08-31 19:07:42 · 4 answers · asked by de 1

im doing my immigration paperwork and they ask me a copy of my husband taxes including W-2s but he doesnt have them.
is it because he has his own bussines??
i have to write a statement describing why he wasnt required to file one; what should I say??

thanks!

2007-08-31 18:10:21 · 4 answers · asked by Anonymous

Me and a fellow experienced programmer are interested in making an online role-playing game that charges players to play. We will probably not make over $100,000 annually. If we did, that'd be awesome. Anyway, I read at http://www.businesslink.gov.uk/ that I need to register a VAT number. I don't think that's necessary if I make less than $100,000. Would I be correct in that assumption?

Also, would someone please answer my other business question? It's been like 3 days and I've had no answers.

2007-08-31 16:18:04 · 2 answers · asked by Anonymous

2007-08-31 15:36:01 · 5 answers · asked by EBONY 3

I've become the lucky chosen victim of an audit for the year of 2006. I think my donation deductions may have tipped them off or something. Anyway, they want proof of my deductions and questioning my head of household status. Well, I can prove my deductions but I'm concerned about the head of household issue. They want to see a copy of my townhome lease agreement but my lady is on there too. Since we're not married we of course file seperately and she files head of household also. Would that bring her in the picture to be sweated by the IRS because I don't know if two people can be head of one household. I'm gonna just take one behind the bushes on the head of household issue and just pay that portion back if she's at risk. What's the JettMan to do??

2007-08-31 13:04:37 · 8 answers · asked by 747 3

I went to file taxes with my dad a couple of times, and they ask this question in which they send me outside and then tell me to come back in after the question is answered by my dad. Can you please tell me what that question is? i'm so curious.

2007-08-31 12:45:34 · 2 answers · asked by Carpe Diem (Seize The Day) 6

2007-08-31 12:36:45 · 4 answers · asked by phiffy0 1

apr. 30,000$ a year, single male no kids. Just curious if it will make a big difference or not, thanks!

2007-08-31 11:32:01 · 2 answers · asked by Anonymous

1) I was just curious about this: When someone like Bill Gates gets to social security age will he collect anything or does his benefit go away because of his income?

2) I heard somewhere that the personal income limit that disallows ROTH contributions when you exceed it was going away. Is that true? It was either that or the income limit that you have to be under to do a conversion from traditional to ROTH. Can anyone verify which one of those is changing?

Thanks

2007-08-31 11:01:34 · 6 answers · asked by flyerd1 2

I am getting married November 15. We have not and will not be living together before then. What would my filing status be for the next tax season. I usually file head of household, single with two dependents (my two boys). Do I need to instead claim married with my future husband?

2007-08-31 10:52:58 · 6 answers · asked by Katie 76 3

2007-08-31 10:44:27 · 3 answers · asked by Arefin J 1

If I claim 3 on federal w-4 does it mean i get less money in my paycheck and more and tax time, or do i get more in paycheck and less at tax time. the higher the number i claim what does that mean?

2007-08-31 10:35:24 · 7 answers · asked by Melissa P 2

I have contacted an attorney and he said that it would cost me about 15k for him to file an offer in compromise and that when the agreement was made, as long as I kept up my end of the bargain, I would be free of debt to them in about 3 years. What would happen if I just went to the IRS and offered to give them the 15k myself, plus say another $7500. Would the IRS work with me direct? I owe probably over 100k.

2007-08-31 10:16:27 · 5 answers · asked by bigbaddave2001 1

I am trying to figure out the gross yearly income required and tax bracket (in precentage) that would put me in for the following...
If my income was $5200 a month (AFTER the $900 a month insurance payment and after income taxes are deducted) then what would my yearly GROSS income need to be and what precentage would I pay in taxes (eg 27%) ? For tax purposes we are a family of 4 with one income.

2007-08-31 08:32:22 · 4 answers · asked by ppnj4 3

2007-08-31 08:05:35 · 5 answers · asked by vain_guerilla 3

I had a pretty large capital loss several years ago. Since then I've been doing the 3000 deduction each year from my gross income during tax writeoffs.

Will the IRS ever request to show proof of my deduction even though it's a carry over from years and years ago? Will they ask to see proof from my original loss back then?

2007-08-31 07:26:26 · 5 answers · asked by unhappy 1

Say for instance that my 2006 taxes are fully paid.
Yet for 2007 after I file for my return next year in april that it turns out I underpaid by 2000 dollars.

Will I owe the IRS a penalty for this?

Second senario.

Say that for 2006 my taxes are fully paid.
But for 2007 I am also getting a tax return of around 100 dollars because of all my deductions such as charity, real estate tax and interest etc. Even though I technically underpaid the IRS before the deductions, after the deductions are accounted for I still have a return.

Will I owe any penalty for underpaying before the deductions are accounted for?

Please let me know what my consequences are for both senarios.

2007-08-31 07:25:03 · 3 answers · asked by unhappy 1

I just completed a short sale on my home. How will this affect me when tax time comes around?

2007-08-31 05:28:40 · 3 answers · asked by naturegirlkole 5

I work at a pharamacy. (Started a few weeks ago) and I had to fill out some paper work. One was a W4 form. When I received my paycheck last night, money for federal income taxes were deducted from my check. Is the money supposed to be deducted? I am 17 and am a student in high school (NY).
If I'm not supposed to pay, then how can I fix this problem? can I even fix it??
Thanks in advance.

2007-08-31 05:11:20 · 5 answers · asked by Anonymous

After my dad dies, I have sold my dad's 14 rental houses and distributed the money to my siblings (and myself). Do I need to pay pay inheritance tax on what I've received from those houses? Its about $75K in hand.

I understand I DO need to pay taxes on rental incomes.

Thanks!

2007-08-31 04:06:57 · 5 answers · asked by Magnix2k 3

My last check was around 1300. I get paid monthly and am married.
I thought something was wrong when they only took out 7 dollars for my federal income tax but when looking at the IRS chart here http://www.irs.gov/pub/irs-pdf/p15.pdf it actually looks like they are taking out the right amount considering I put a 2 for my W-4.

WHy do they take out such a small amount though? I know you get a tax break for putting a 2 on the W-4 as well as for being married but I'm destined to be owing taxes at the end of the year if I'm only paying 7 dollars a month for taxes aren't I?

2007-08-31 03:47:34 · 3 answers · asked by unhappy 1

I am eligible to collect s.s.disablity but I am told by social security they don't have any history for my working years in the late 70's early 80's. ( I didn't keep w2s from back then).I know I was working for my father's company when he had it back then. He has passed away so I don't know who to contact for info. His secretary back then didn't do very good record keeping I've been told.

2007-08-31 02:34:57 · 5 answers · asked by lsvettek 2

2007-08-31 02:13:39 · 14 answers · asked by R G 1

is it possible to have your job quit taking out taxes on you and just give you a 1099 at the end of the year so you can pay your own taxes

2007-08-31 00:33:00 · 6 answers · asked by thunder31634 2

2007-08-30 23:53:06 · 5 answers · asked by Anonymous

it says something about $1.25 per $100 valuation

2007-08-30 20:07:20 · 1 answers · asked by ERICA M 1

2007-08-30 19:45:18 · 3 answers · asked by ERICA M 1

Besides the $10,000ish in income, will I have to pay self-employment tax on top of that? I live in Washington State.

2007-08-30 19:18:11 · 4 answers · asked by Anonymous

Doesn't hurt to ask =)

2007-08-30 19:12:18 · 4 answers · asked by Anonymous