United States - August 2007

I live in North Carolina and have a few questions about filing taxes for 2007.

1) I know you can't claim exempt on the purchase price of textbooks, but can you claim the shipping and handling to receive and return the books?

2) I have a $2500 scholarship--do I have to claim that?

3) Can I claim daycare costs if it is a drop-in care for my taxes because of school?

4) I have already recieved the Hope Credit that you can only get once, but is there any other tax break offered?

5) I receive GI benefits---are these tax deductable and will I get some form in the mail for tax time for this?

6) I had to purchase a computer in June of 2006 for my online courses which I started classes in April of 2007--- can I claim the computer under school exspenses for 2007? If I can, where can I find information on that to show my tax person?

I think these are all the questions... I am a full-time student and do online courses. Thank you.

2007-08-18 02:25:31 · 3 answers · asked by Raven98 2

I got married in Sept. 2006. My payroll changed my tax status to Married 1. I ended up owing the IRS in April, 2007. (My husband never changed his status from Single 1.) My accountant suggested that I file as Married, but withhold at a higher single rate. After a pay period or two, I noticed that my payroll dept. did not do this. They claimed that their paychex system does not have a check box for that option. They switched my status to Single 1. I feel that not only is too much money being withheld from my paycheck, but also, can't I get into trouble for filing as a Single 1 when I am married? Does anyone have any recommendations for how my husband and I should file? (Our accountant last year did a Married, filing separately return. My status was Married, 1 at the time. My husband was Single 1.)
Thanks.

2007-08-18 01:14:13 · 4 answers · asked by Donna S 2

If I do have to pay taxes is there a time limit to put the money towards another house without paying taxes?

2007-08-17 18:22:43 · 8 answers · asked by Kim 1

My income is going to be $38,500. I have two dependables (elderly parents).

I would like to know approximately how much I can expect to have left after taxes.

This is my first job so I don't know much about this stuff.

2007-08-17 18:11:29 · 4 answers · asked by Susannah 1

I live in Rhode Island, and just started a new job at a boat yard. How would i go about figuring out how much I would make after all taxes are taken out...?

2007-08-17 17:01:12 · 3 answers · asked by Anonymous

rental, and a few thousand for retirement. I think the bill will be like 50k...Any suggestions???...Would bankruptcy work to protect my few assets. I am willing to pay till the day I die, but this bill will not be covered.
Thanks for any help

2007-08-17 16:51:25 · 9 answers · asked by la rae w 1

2007-08-17 15:53:15 · 6 answers · asked by lleslie158 1

When I crossed the border back into Canada from NY state, I declared my purchases and paid Ontario sales tax (and GST) on my purchases. Since I paid NY state sales tax at time of purchase, can I get a refund, since I've paid sales tax twice?

2007-08-17 15:16:17 · 3 answers · asked by Anonymous

I filed my taxes as single both years that I was married. Now I'm in the middle of a divorce. Is she entitled to ordinary business income listed on schedule K1?

2007-08-17 15:00:31 · 3 answers · asked by Techguy2661 2

2007-08-17 14:17:15 · 3 answers · asked by Julia V 2

I want to collect donations through a website to help pay for my insanely high student loan payments. A lawyer on one of those ask a question sites told me it was considered income. How do I pay taxes on it properly?

2007-08-17 14:11:47 · 4 answers · asked by M K 2

I want to start keeping records for my fuel expense I spend going to work. Besides receipts and odometer readings is there anything else I need to record. Also will I get all of this money back I spend or how does it work?

2007-08-17 13:20:57 · 4 answers · asked by LOFT1009 5

I am 18 years old and I just got a job that pays me aproximately $15,000 a year. My parents claimed me as a dependant on their taxes and I am a full time student so I understand that I can't claim myself. I want to know if I can still get any of my tax money back. My main question is about some business expenses, I got a phone line and a headset telephone that I use strictly for business and was hoping that I could write them off on my taxes but now Im not so sure if I can even file taxes. I'm new at this. Somebody please help me.

2007-08-17 11:20:37 · 6 answers · asked by shelly 2

i lost my state ID this past weekend and i need to cash a check.. in texas they mail your id upon request and a fee but it takes about 2 weeks.. i have an old Ident-a-kid ID from when i was 16-17 years old.. im 19 now.. think the bank will take it?

2007-08-17 11:06:09 · 3 answers · asked by Mikey 1

how many hr. should I work a day, how nuch salary should I make a year? what mean 4 points for a year keep works 10 years to get 40 points, than you can retire?

2007-08-17 10:51:28 · 1 answers · asked by ding-chen@sbcglobal.net 1

I just received my second pay check and my employer says I need to do my taxes myself. How do I go about doing this and is it legal that my employer isn't doing them himself? I never filled out a W form and I get no benefits, but for a college student the pay kicks butt. I'm not complaining, just asking if this is legal. And what are my chances of the IRS noticing if I don't figure out these tax details?

2007-08-17 10:21:54 · 1 answers · asked by Anonymous

2007-08-17 10:00:14 · 2 answers · asked by Adolfo G 1

My aunt (who meets the IRS definition of being a non-resident alien) intends to give $50k towards my son's college education. My aunt lives in Switzerland. To ensure that the gift is given and received outside of the US (so as to make it non-taxable) I plan to open an account at a foreign bank into which I will receive the gift, and then wire to funds to the university. Gifts from non-resident aliens over $10k normally requires that the recipient file of IRS form 3250.

My Question: since this gift is being used for tuition, is it exempt from filing form 3250? IRC 6039F(b) (Notice of Large Gifts Received from Foreign Persons) has exepmtion language for tuition and medical expenses, but I find the language a bit vague.

Does someone know if, in the circumstances described above I am exempt from filing Form 3250? And thus, I can receive the gift tax free, spend it on tuition and file nothing with the IRS?

Thanks

2007-08-17 09:22:22 · 3 answers · asked by Marco 2

If you are a minor that lives with parents and has a job, is it true that at the end of the year, you get ALL of your taxes back from when they were taken out of your pay since you're still a kid living with parents?

My teacher says yes but my mother says minor or not, you do not get all of your taxes back.

2007-08-17 09:03:43 · 4 answers · asked by Anonymous

2007-08-17 08:45:18 · 3 answers · asked by paularobbs 1

My income tax refund was intercepted because of outstanding student loans. The following year, I had a back injury and couldn't work. I lived in low income housing and depended on a church food bank for food. So I didn't file. The following year, I was able to work, but low income, and again didn't file, unable to pay to have my taxes done. I still cannot afford a professional preparer to catch me up, and am afraid to talk to IRS. What now?

2007-08-17 06:37:22 · 8 answers · asked by invisiblewoman 2

My first pay stub from the new employer does not show the added amount. To my knowledge it must show added to the previous amount...does any one know about these???

2007-08-17 06:14:32 · 5 answers · asked by Anonymous

Got check for $3900 saying we should use to pay taxes on $45K winnings we will receive. Have to call number to claim prize and will advise process. Sounds fishy. Appreciate info.

2007-08-17 06:03:38 · 6 answers · asked by Tom S 1

My friend is going to loan me money. I will give it back to him in 3 months with interest. Will it be tracked my the irs if it is over a certain amount?

2007-08-17 04:12:45 · 8 answers · asked by B 5

I am a nanny for three different families. I get paid in cash. Do I need to claim taxes still? OR do the families I nanny for claim taxes? If I do have to claim taxes how do I go about that? THANKS!

2007-08-17 04:04:35 · 2 answers · asked by Jessica 2

2007-08-17 04:04:02 · 3 answers · asked by pat 1

My boss suggested i become a subcontractor. How will that effect my taxes?

2007-08-17 03:46:14 · 9 answers · asked by Anonymous

2007-08-17 03:32:32 · 16 answers · asked by greenday_avril1984 2

Trying to figure out a budget and how much rent I can afford

2007-08-17 03:12:16 · 4 answers · asked by SA 1

2007-08-17 01:27:06 · 5 answers · asked by panorman99 1