United States - September 2007

I have been taking care of a friend's little boy while she works for several months. Court paperwork dictates that she pay 48% and the father pay 52% of the childcare expenses. She has been paying me her portion plus part of the father's portion from the get go, as he has not ever paid a cent toward his childcare. I finally started giving him bills, and he has asked for my tax identification number, which I now know is my social security number. I don't feel safe giving him my SSN, as he is not a trustworthy person, and I believe does things that are possibly illegal. Do I have to give him my SSN in order for him to claim childcare expenses on his taxes? Can he just give them my name and address? I already know I have to and will claim the income from this on my taxes. If I don't give him my SSN, does that mean he doesn't have to pay me for his child's childcare that I have provided?

2007-09-26 06:51:58 · 8 answers · asked by Jenn 3

... from my employer, and need to know if I should consult with a tax attorney, OR, a CPA to get the very best advice on how to minimize my tax burden legally.

In other words, which professional would give me the most comprehensive advice?

Thanks!

2007-09-26 05:42:00 · 4 answers · asked by Anonymous

2007-09-26 04:35:54 · 4 answers · asked by MB 1

i have a job in the city, my problem is im off the books and no sss deduction and taxes at all... can i pay my own sss? how?....Thanks!

2007-09-26 04:04:43 · 7 answers · asked by mm 2

A friend of mine was audited by the IRS for her 2004 tax return. In the initial communication, the IRS requested certain proof and documents which she promptly sent. Now she received a new letter stating that her return was adjusted and she owes $2,600 and must pay in ten days. She doesn't really understand why because she had her taxes done at a professional place located in NJ. It is called "Malqui Tax" which caters to the spanish population. She has done her taxes there for the past 3 years. They supposedly have audit protection. I advised her to contact "Malqui Tax" and have them provide audit defense but she can not get in touch with them. We googled the place and they have several locations in NJ and none of the phone numbers work. They are all disconnected. What can she do at this point? Thanks.

2007-09-26 03:12:55 · 12 answers · asked by Anon 1

2007-09-26 03:03:43 · 4 answers · asked by 860-7SHARON O 2

Feel free to go into details. I'm thinking of starting one but I want to know how owning my own business could potentially help me reduce my taxes and allow me to reap a higher profit. Thanks

2007-09-26 02:54:06 · 6 answers · asked by aeroprodrivemaster 1

do i have to pay taxes on this amount? it was split between 5 of us

2007-09-26 02:52:30 · 2 answers · asked by Anonymous

I am not sure about the 42 cents part.Is there a way that i can track this check to see if it was taken even if i am not sure about its exact amount?

2007-09-26 02:20:01 · 5 answers · asked by Sam628 1

2007-09-26 01:46:12 · 8 answers · asked by ksloan15522 1

can I claim the annual business amount on my taxes by getting a business credit card?

2007-09-26 00:57:54 · 6 answers · asked by John S 1

2007-09-26 00:07:23 · 5 answers · asked by Ron S 1

If i run an adult website were consumers buy webcam shows from independent persons listed on my site but i handle the billing process thorugh my website, am i subject to pay taxes, state and federal ? im not sure of if there are such laws in place for things like this. and if so, would it be considered sales tax ?

2007-09-25 23:24:50 · 9 answers · asked by Anonymous

I just got a notice from the IRS that I owe taxes from 1999. I don't know how this could be right. I called the IRS last year and asked them if I was good on my taxes and they said yes. So I have all this interest to pay now. Does anybody ever settle with the IRS on an amount that is less? It is only $275., so I don't think it would be worth getting an attorney. I don't know if there are other options besides making payments or paying the full amount. Help!

2007-09-25 19:34:28 · 7 answers · asked by Caroline 1

2007-09-25 19:18:36 · 3 answers · asked by Priscilla A 1

Example:
'Company A' and 'Company B'

'Company A' provides phone service.
'Company B' is a phone company that allows 'Company A' to provide phone service under the 'Company A' Name.

Basically, 'Company A' is a middle man.

'Company B' charges 'Company A' $5 a client
'Company A' charges client $10

'Company A' receives payment and then pays 'Company B' the remainder.

is there some sort of legal way to organize this with IRS? Is there a form or something that needs to be filled out for tax reasons? is 'Company B' like a sub-contractor, and should be paid in a salary or commission form?

2007-09-25 17:18:38 · 2 answers · asked by Anonymous

2007-09-25 16:24:57 · 5 answers · asked by biebs51 1

Im starting work soon and don't think i'll need the benefits that they offer because I have health, dental and vision from my husbands plan. If I choose not to take it will I make more money?

2007-09-25 13:56:05 · 6 answers · asked by Yeah 2

2007-09-25 13:15:48 · 6 answers · asked by Anonymous

Imagine two people starting with 2,000 pre-tax dollars to invest at age twenty-five. The tax rate is a constant 25 %, and the capital gains rate is constantly 15 %.One person invests in the ROTH IRA (for 1,500 dollars because of the tax), and one invests in the Traditional IRA. If the annual rate of return for each investor is 8%, who does better in the end if retirement is age 70, exactly 45 years later?

2007-09-25 12:48:48 · 3 answers · asked by Runner 1

2007-09-25 12:46:02 · 2 answers · asked by Nick 5

My grandmother recently passed and she deeded her home to the grandchildren. We took possesion of the home, this wasn't inheritance by the way, and we have sold it. From what I understand I will have to claim this money as Income for 2007. I usually just use the 1040ez form because I don't own property and I have no deductions or anything that would make me use the long form. My first question is can I still use the EZ form with this type of income? Secondly, will I get something in the mail to document these earning? I don't think the attorney is making us fill out w9's, so I'm not sure how to report this. Will this be considered as capital gains? I've heard they tax capital gains more significantly than earnings from employment.

Any advice would be great. Thanks.

2007-09-25 12:28:08 · 7 answers · asked by Anonymous

2007-09-25 11:47:19 · 3 answers · asked by CantBClever 2

We have refinance our personal home and we had to pay points which I will deduct the points on Sch A but we also paid other expenses such as escrow fees, title fees, loan origination fees. Can we deduct these fees as well and which form should we use ... thanks

2007-09-25 11:41:56 · 4 answers · asked by Anonymous

A friend, let's say her name is Ashley, of mine claimed one of her friend's, let's say Kim, child and I want to know if there is any penalties for this. Ashley and Kim are cousins by marriage. Ashley lived with Kim's child for over half a year. Finally, Ashley has helped with supporting Kim's child. Could Ashley go to jail?

2007-09-25 11:39:53 · 2 answers · asked by Anonymous

ok so i want to take a bunch of clothes to the good will. and i know you can get a receipt for a tax write off, or deduction, not sure. but i only make around 9-10thousand a year. and have never had to pay taxes when i file them. i always get some back. so if i brought in the receipt for the clothes when i get my taxes done, would i get more back, or does it just take some of the money off of what i would have to pay if i did?

2007-09-25 11:30:07 · 4 answers · asked by Anonymous

2007-09-25 10:34:29 · 9 answers · asked by edawg2362 2

im really screwed here... I have been seening this Tax Preparer for two years someone at work referred me to him so i thought id give him a try... ok so i ended up faxing all my w2's to him as he told me too, so he could get started working on them, i then called him so we could meet up and i could go over the forms and to sign them..never got a hold of him 2 weeks later i get a massive refund from the IRS, all of sudden he calls me and tells me hes fee is half of what i got, not knowing what to do i gave him half... long story short, i get an Audit from the IRS i call him tell him whats going on, he says hell take care of it, he didnt i got a MASSIVE MASSIVE bill from the irs weeks later, my tax preparer is no where to be found, changed all his numbers everything... I never even met this guy, never signed anything of returns i had no idea what he was doing to my taxes.. im so lost and dont know what to do... please any advice would be helpfull thank you!

2007-09-25 10:15:57 · 10 answers · asked by Loveforall 2

2007-09-25 09:23:08 · 6 answers · asked by Cygnus 2

Example - addition on my house.

2007-09-25 08:49:39 · 6 answers · asked by MLB 2