United States - August 2007

Here it is a question regarding for the tax, last year, I hired a seasonal worker for me, and paid about $1200 for him, but since he is only working for about one month, I forgot to mention this to accountant, and no 1099 was filed.
Recently, I like to hire him back again, and ask him whether he filed tax return last year, he said he did, I think I may need to give him a 1099, but can not find anywhere.
Question is, can I still file 1099 for him ( for year 2006), if I can, what kind of procedure I should go through, is there any kind of penalty from IRS and state (NY state) ?
Thanks.

2007-08-16 04:41:58 · 2 answers · asked by nyeastufo 1

Can a stock loss dbe deducted from anyother intrest gain?

2007-08-16 02:41:18 · 4 answers · asked by Anonymous

I am thinking of starting a small in home business. I would only make about $15,000-$20,000 per year. How much would I have to pay to taxes on that? I know that I could keep my receipts and use those as deductables, but please dont include that in your answer, just let me know about how much I would have to pay out at the end of the year. Thanks yall!!

2007-08-16 01:30:22 · 8 answers · asked by Katie 2

I am 66. Retired UK citizen. What might I pay for medical insurance. What Taxes would I be liable for. For example would I pay tax on world wide income, investments , pensions. Thanks

2007-08-16 00:30:59 · 5 answers · asked by michael m 1

I work with a lot of clients who have dementia/brain injuries, etc. I often need financial info., preferably tax info. I am not sure if i call the IRS that they can give me the info. I also don't want my clients to be investigated if they havn't filed. Any suggestions??

2007-08-16 00:08:19 · 5 answers · asked by MrsMaltz 3

2007-08-16 00:04:44 · 4 answers · asked by Anonymous

We were overseas for a 12 month period on a teaching exchange, rented out our home, and we're working with Turbotax, but it seems really complicated. One of us wants to just pay someone to get it done, the other of us thinks the cost would be prohibitive, CPA websites don't give even rough idea of what the cost would be...$50? $500? $5,000?

2007-08-15 18:57:17 · 4 answers · asked by anxious 1

It bugs me as if there are not enough tax's we have to pay, but we get taxed on our vehicles every year.....i've never had to do this anywhere else, only in this small town....do you have to pay taxes on the cars you own in your city or state?...where does this money we pay them even go to?.... we have a mini van and a older model car and we just got our taxes on them and have to pay $156.....i just think this is crazy.

2007-08-15 18:50:00 · 3 answers · asked by Nita and Michael 7

like how much percent is tax?

2007-08-15 18:33:16 · 7 answers · asked by Anonymous

2007-08-15 18:26:12 · 6 answers · asked by c s 1

2007-08-15 17:09:55 · 4 answers · asked by shilpa shroff 1

that W-2 form when you get hired where they will take alot out of my check so I can pick it up at the end of the year? Is it the higher the number the less they take out and the lower the number the more they take out or what? It always confuses me. Im single and im gonna file head of household and I have two dependents (my son-3)(my daughter -1month) so what i need to put to get the most income tax back with the earned income credit???

2007-08-15 17:08:48 · 5 answers · asked by jordynorr 1

2007-08-15 16:34:12 · 3 answers · asked by Huynh T 2

2007-08-15 14:08:07 · 5 answers · asked by stevo1313 1

If I have a deed to the house but don't have the mortgage in my name can I still get the tax write off? I am paying the mortgage it is just in someone else's name.

2007-08-15 13:41:15 · 3 answers · asked by Blitz 3

I have a medical flexible spending account through my employer.

I have a certain amount deducted out of each pay period and have access to tax free funds throughout the year to cover various medical expenses including co-pays, prescription drugs, dental work, etc...

The account is a "use it or lose it" type thing. So my question is....if you don't use it....and you end up losing it...where does the money go?

I really don't see how that can possible be legal as this is money that you have earned. Why can't you just have the excess at the end of the year rolled back into your pay and taxed at a normal rate?

Any thoughts?

2007-08-15 13:27:20 · 4 answers · asked by lattle4 3

My father passed away and we have sold the house. Do we have to pay capitol gains and what percentage. The house was valued at 200,000.00 when he gave it to us and we have sold it for 300,000.00.

2007-08-15 12:59:30 · 4 answers · asked by ernie L 1

I left my return paperwork in a folder & when i was searching for it half the paper was missing. I need all the paperworks & receipts. If i call the place where i did my taxes will they have a copy of all the info they can give me again? Its closed right now so im not able to call.

2007-08-15 12:44:07 · 3 answers · asked by blueberry muffins 1

2007-08-15 11:56:27 · 8 answers · asked by tazman81 2

Why doesn't evry cash paid person just evade? I it's not illegal to evade.

2007-08-15 11:15:02 · 8 answers · asked by blnkfrnk45 1

I am the majority owner of an LLC. Can my LLC pay my personal tax bill for me? I don't want to pay taxes from my take-home pay.

2007-08-15 11:05:30 · 5 answers · asked by Anonymous

Let's say I sold stocks for $2000 short-term gains and $1000 short-term loss in this year. But I also have $5000 short-term loss carried over from previous years. Then how much previous short-term loss can be offset this year?
Is it $3000 or $4000 (because of $1000 net short-term gains this year)?

2007-08-15 11:03:44 · 4 answers · asked by car_susp 2

2007-08-15 10:47:28 · 1 answers · asked by John L 1

If you own a business you want to be able to make a profit. This is a good thing. It feeds the owners family and all the people who work for that company. Great thing. SO.. if the cost of something you sell goes up... do you just fire someone to make up for it.. or probably first raise the price. If taxes go up.. do you.. pay it out of your own pocket? or.. fire someone.. or... raise the price?
My point is... when politicians say they are going to make things better by raising taxes on business or the rich are they not in effect saying they are raising taxes on the poor and middle class? Are they not in effect ..gasp.. lying to us?

2007-08-15 10:41:36 · 9 answers · asked by kent j 3

2007-08-15 10:24:05 · 5 answers · asked by Anonymous

2007-08-15 10:19:40 · 3 answers · asked by charles p 1

2007-08-15 10:01:53 · 4 answers · asked by Anonymous

2007-08-15 09:36:49 · 2 answers · asked by ROBBIE E 1

I live in Virginia. My employer is downsizing and 8-31 will be my last day. I am getting severance pay but I was wondering will it affect my unemployment? Someone told me that if I wait to file for unemployment a full week after I get the severance pay that it will not affect it, is this true?

2007-08-15 09:23:07 · 8 answers · asked by Anonymous

My landlord has apparently abandoned the property that I am renting. I was in the process of finding another dwelling when I recieved papers in the mail stating that he is being sued for non payment of property taxes dating back to 2005! The paper also stated that payment arrangements can be made in order to avoid court proceedings. If I pay the taxes is it correct that he has 90-120 days to repay me or he forfiets the property over to me?

2007-08-15 09:04:48 · 6 answers · asked by Stranger In My Heart 6