United States - August 2007

What is a social security credit? how can a self emplayed person earn it?

2007-08-25 09:19:37 · 6 answers · asked by nmd 1

So I'm self employed and I get taxed up the ***. I went to a tax guy and he said I should set up a c corp because I would pay lower taxes. However, he said that I would not be able to spend any of my income, and that I'd have to live off of a second source of income, like my wife or getting a second job. I really didn't understand it. Does anyone know what he was talking about?

2007-08-25 08:22:13 · 3 answers · asked by John L 2

2007-08-25 08:13:43 · 7 answers · asked by Anonymous

Did you know by January 1, 2008 , Cigarette's are going to take a $6.10 a carton tax hike? State and Federal cigarette taxes have been raised 73 times since the year 2000- increasing the average price of cigarettes 80% a pack. Everyone should pay their share of taxes- but it's unfair to single out smokers once again for a 156% tax increase.
TELL CONGRESS THEY'RE GOING TOO FAR
Let congress know targeting smokers with a $6.10 a carton tax hike is going too far!
Please take a few minutes of your time and visit:
http://stopthefetincrease.com/
And say no to higher cigarette taxes. Thank you.

2007-08-25 07:38:12 · 12 answers · asked by bob 6

Now that Barry Bonds has broke the all-time homerun record, here’s a fun question for you tax geeks. If you are the one who caught the ball, what are the tax consequences? Will he have to pay taxes on the ball because of ownership, or when they ... if they ... sell it?

2007-08-25 07:05:32 · 8 answers · asked by Misty fka Princess 1

does anyone know what the percentage rate is for irs 1099 tax?

i am single, living in va, no kids.
let's say if the total charged to 1099 is $100,000.

is it 30%?? so the final amt. becomes like $30,000?

2007-08-25 05:37:23 · 4 answers · asked by h 2

Will it make any difference in my yearly tax return?

2007-08-25 05:23:42 · 4 answers · asked by SadToday22 3

Will it make any difference in my yearly tax return?

2007-08-25 05:23:29 · 6 answers · asked by SadToday22 3

I was wondering if I would be able to fly in the US and also if I will be able to get my passport seeing is I am paying on the arrears out of my paycheck and tax return. Also does that make me a candidate for the no fly list the government has

2007-08-25 02:44:27 · 6 answers · asked by Anonymous

if you deposit a mass amount of money in a foreign bank account would you have to pay taxes, fees or securities.?

2007-08-25 01:47:58 · 6 answers · asked by ryan y 2

I think its over 15% for me.

2007-08-24 19:17:14 · 19 answers · asked by Anonymous

I have been making payments of 100 dollars a month to the IRS. My question is can they garnish my check even though I am making payments? Wondering what other options I have as well. Any help will be appreicated. Thank you in advance

2007-08-24 18:27:18 · 5 answers · asked by Anonymous

Also, how can I pay sales tax if I sell on eBay

2007-08-24 18:19:26 · 6 answers · asked by Huynh Bao Anh 2

My company is only paying me my hourly rate which is less than the federal wage. I brought this up and they said that I have a company vehicle. Does having a company vehicle mean I dont get the federal wage? I think my company is getting over on me, I need to figure out what these fringes are?

2007-08-24 17:48:38 · 6 answers · asked by goneloop 1

I am a cashier at walmart, and I have had two people so far that get taxt exempt merchanside. One was an ambassador from mexico and another was a couple from Russia? How come these people get by tax-exempt?

2007-08-24 16:23:53 · 7 answers · asked by Anonymous

2007-08-24 16:10:46 · 2 answers · asked by derek p 1

Those income tax forms... some people say put zero. But I am married, and there are debts that I am still paying from wedding and school loans (sigh).

2007-08-24 16:08:13 · 5 answers · asked by suninmyeyes 2

I am 23 and moved back in with my parents last September to stop renting an apartment and save up to move out for good in about a year or two. I was only working part-time at Meijer (a wal-mart competitor in Michigan), so I wasn't making a lot- so my parents claimed me on their taxes as a dependent and my tax return was greatly reduced. But now, I just got my first real job as a full-time teller at a bank, and every month I lose about $150 a week in taxes. I know that since I only make $28,000 a year or so, I'll probably be able to get a big tax return at the end of the year... but I know my parents want the tax write off for me still living in the house. Should I plan on filing on my own next year as an independent to get a big tax return, or should I stay put and let my parents claim me one more year since I am staying here rent-free? What exactly do my parents get for claiming me as a dependent? I'd much rather get a $1500 tax refund instead of $400 like the past couple years.

2007-08-24 15:59:25 · 6 answers · asked by Paris P 3

My house was assessed in the spring, and my property taxes went up $200 more a year, again! This last hike makes my taxes almost double what they were when we bought the house less than 5 years ago.

Do I need to bring any papers with me? Will they have records of my taxes there? What do I say to them? I don't want to look like a huge ignorant idiot in the Assessor's Office.

2007-08-24 15:03:59 · 5 answers · asked by hottiecj *~♥~*~♥~* 4

We have 3 payroll categories: Salaries/Wages, Bonuses, and Commissions. I am a salary + commission employee. Last quarter my commission was tracked under 'bonus'. It was my understanding that these were taxed differently. Does anyone know the answer to this on FICA and or State of CA?

2007-08-24 14:06:31 · 7 answers · asked by Paul E 1

2007-08-24 13:42:48 · 6 answers · asked by jane 1

I just started an office job, and I am classified as an independent contractor. I found out that I have to pay more taxes as an ind. contractor, my employer told me to save half of my check for taxes! i am being paid $18/hr, does this mean that I am really only netting $9/hr after all is said and done? Thanks for your help!

2007-08-24 13:41:39 · 8 answers · asked by Peter P 2

2007-08-24 10:45:27 · 5 answers · asked by karzee62 1

2007-08-24 09:12:37 · 5 answers · asked by Anonymous

i haven't paid taxes in the last four years-(maybe more!) i have just never filed because i make so very little money on paper. my boss however writes me a weekly check and doesn't take any money out. (approx 20,000) a year. my point is how do i get straight with the IRS i want to make sure i am not getting into serious trouble!! help!

2007-08-24 08:57:37 · 8 answers · asked by thankyou 1

So if you get say 15,000 dollars from selling your car do you have to pay taxes on that?

2007-08-24 08:52:33 · 4 answers · asked by sshazzam 6

I've heard of places doing this but yet I don't see how or why they would do this. Esp when some people only owe 5k-10k.
If this is true, I personally can't see selling a 100k house for 5k.

2007-08-24 08:48:30 · 3 answers · asked by Allen C 2

My husband and I have always just taken the standard deductions on our tax return. I'm wondering if it would be worth it to start itemizing. We have a house, so we could deduct our mortgage interest right? Only our interest only comes out to about $6500 for the year. We don't have any medical bills because he's in the Army so we're completely covered by Tricare. I'm going to school full time (junior in college) and getting my GI Bill but not working. I do have daycare expenses related to going to school full time. We also donate to chariies. At what point does it pay to start itemizing? BTW we always get all our taxes back plus some since we get the Earned Income Credit.

2007-08-24 07:25:36 · 6 answers · asked by moira77 4

Let's say if 30-yr-old son still live w/ his parents and pays several hundreds dollars for room & board to his parents every month, is this money he paid his parents taxable? Should parents include it as taxable income in their tax return filing?

2007-08-24 07:19:31 · 6 answers · asked by akari_asato 2

I was just wondering if there is a tax on stamps or not or is a book of them exactly $8.40 out the door?

2007-08-24 07:18:08 · 5 answers · asked by Anonymous