United States - October 2007

Does it bother you about the $1 tax raise on cigarrettes.??
It bugs me!! Cigs. are all I can afford to relieve stress.
go fishin'- gas is too high.
read a book--can't get away from the kids long enough.
take up a hobby--- my paycheck aint that big..
and on and on..

2007-10-18 05:58:52 · 4 answers · asked by Anonymous

My divorce is pretty much finalized. My son and I have been living with my parents since the end of March. We will probably not move out until the first part of next year. I am 26 and my son is 5. We have been staying with them since my husband and I seperated so I can get on my feet. When my parents file their taxes next year can they claim me and my son? How would that affect my refund next year, because then I wouldn't know how to file? If not do I just file single for the tax year 2007. And then for the tax year 2008 can I file head of household since I have custody of my son and next year we will be on our own?

2007-10-18 05:35:48 · 3 answers · asked by love my life 2

I am wanting to donate money to The March of Dimes and I don't know how it worked at the end of the year come tax time.It's my first time every donating to a charity. I want to give the charity 5,000 or so dollars by the end of the year. Can I write all that off on my taxes or will it just be a percentage of that???

2007-10-18 05:32:01 · 3 answers · asked by Scarlet 2

2007-10-18 05:06:42 · 3 answers · asked by Marcus Y 1

Just recently divorced. I have 4 kids which 2 of them I can claim as dependents. I have joint legal custody but not physical custody, however I do have them 160 days a year. I am not sure if I can claim "head of household" status on my W4 or not.

2007-10-18 04:31:06 · 2 answers · asked by Anonymous

2007-10-18 04:07:37 · 4 answers · asked by Angela C 1

2007-10-18 03:48:11 · 2 answers · asked by Angela C 1

When you purchase a car in Tennessee from a dealership they collect a business and metro/county tax in addition to state taxes and if you purchase a car from an individual and pay taxes yourself the county only collects the state tax? Is this profit to the dealership?

2007-10-18 03:35:04 · 1 answers · asked by apsu76 1

I should have had someone else doing my taxes, because for the last 2 years, I've been owing money instead of getting a refund. Everyone keeps telling me that I shoud be getting a refund.

2007-10-18 03:04:55 · 5 answers · asked by Mabel 2

I've just realized that I have about $40,000 in short term gains from sale of stock for the year. I also have another $15,000 likely. We have been selling stock to pay for a new house. My wife and I have taxable income around $50 - 60K. Two Dependant children and a mortgage deduction. Last year I was penalized for under withholding so I upped my contribution by lower the number of deductions. The problem I see coming is that I have far more gains than I realized.

What is the best way to handle this with only two months to go in this year?

2007-10-18 02:27:21 · 7 answers · asked by xmasboy 2

I used to live in the UK (and a UK citizen) and received a large inheritance. I left the £££ in the UK and moved to the US where I now live (and now also a US citizen). If I want to bring back the £££ into the US, what taxes do I owe? Will I owe any tax on the inheritance? Or is tax strictly limited to the interest earned on the inheritance? No interest has ever been reported to the US.

2007-10-18 01:37:42 · 4 answers · asked by Dirty Deez 1

2007-10-17 22:33:14 · 5 answers · asked by KEVIN Z 1

My father had back taxes and files for bankruptcy in early 2006 now the federal government is comming after the back taxes. Does the bankruptcy take care of those taxes or is he still liable for them? (Lives in Kansas if this matters)

2007-10-17 19:04:22 · 2 answers · asked by Matthew A 1

2007-10-17 17:40:05 · 3 answers · asked by B Blah 1

if so how do i go about doing it?

2007-10-17 17:19:00 · 12 answers · asked by lesh 1

2007-10-17 16:26:34 · 4 answers · asked by AnswerWhore 2

I'm a single mom with one child and would like to know what is the minimum amount of income I would need to make in order to qualify for earned income credit on that child?

2007-10-17 15:53:00 · 2 answers · asked by Anonymous

2007-10-17 15:06:11 · 6 answers · asked by Michael S 1

My city is currently selling rafle tickets for $100 to win a $500K dream home. The house is being donated by the builder, and all the ticket money is going to charity. I was just wondering how the prize tax on such a thing is handled. Is the winner suposed to pay income tax on the $500K value of the home?

2007-10-17 14:46:45 · 4 answers · asked by SunnyMoon 5

I want to buy a business that Nets over 150,000 a year, I want to incorporate. What type of benefit do I get if I incorporate my business?
e.g taxes, right offs
Thank you

2007-10-17 14:43:26 · 2 answers · asked by Anonymous

I know it is part of IRS Section 125, or a flexible spending account (FSA), but why is it called a cafeteria plan and why is it called that?

2007-10-17 14:31:56 · 3 answers · asked by Doesntstayinvegas.com 3

I have three questions regarding W4 Forms.

1. If you want to have less money withheld, should you claim more or less exemptions?

2. My understanding has been that if you want to have less money withheld, you should claim as many exemptions as you can. However, my son is filling out a W4 for the first time, and he is not eligible for any exemptions. Does this mean that the government will be taking out the maximum amount of money from his check?

3. Is he exempt from withholding anyway, if he is under 18 and is a dependent of someone else? Or does it depend on how much money he will make? He will only be working a part-time job after school.

2007-10-17 14:27:46 · 4 answers · asked by Jaysh 1

I cashed in some of stock holdings. If I don't do anything now, I suspect I will own IRS quite some money next April. So how can I make a payment now? I don't want to change my monthly deduction from my salary or have my broker withholding money for tax. So is there any other ways to pay off the capital gain now instead of next year?

2007-10-17 13:53:58 · 7 answers · asked by ww 3

Whenever I get a bonus check it is taxed at a straight 42%,does everyone get taxed this amount on bonus checks and why?I believe the IRS gets 25% while the rest goes to state,city and ss.

2007-10-17 12:41:52 · 9 answers · asked by toledojeeper 5

Im single, working fulltime, one job mother of one. Currently, Im claiming Single 1. Can I claim single 2, to include myself as an allowance as well as my child? Would it make a signifgant difference in my paycheck?

2007-10-17 11:56:08 · 6 answers · asked by jewels 1

I'm 16 years old looking for a min.wage job for like 25 hours a week. But after researching..i'd be paying about 30% of my paycheck just to taxes. seriously wtf?! Didn't our country fight a war to get rid of taxation without representation?! why am i being taxed when i can't even vote???

2007-10-17 11:50:41 · 7 answers · asked by stonesfan_17 4

I have recieved a couple months back letter from my state addressing that I need to complete my 04 tax return, something I swear I completed. During that time period I was going through a lot of personal problems, death of an uncle and birth of my daughter. Now I recieve a notice of assessment that is slamming me for close to 2k bucks and it puts me in a great bind. Under what grounds can I appeal this in my current situation? Thank you for your time.

2007-10-17 11:37:01 · 4 answers · asked by oftheangels25 2

I opened a store on eBay selling infant clothing & other baby items. I opened the store in April 2007, I was making around $1,000 a month from April until June 2007 when I put the settings to vacation settings until late August 2007. (My husband was in a car accident, I had to tend to him as well as insurance and lawsuits, so I didn't sell ANYTHING during that time period) This month, I have made around $1,100. I keep record of everything, I use a program through eBay and send everything to QuickBooks online. What EXACTLY do I need to get together and bring in when I have my taxes prepared? This is my first year doing this, and I have NO IDEA what I'm in for! I get a lot of items I resell on eBay, and they all have item numbers. Can I claim that as expenses? And can I just use the item numbers, or how does that work? Also, I am not quite sure how to print out all of my info once I'm in QuickBooks online edition. Any help is appreciated!

2007-10-17 11:08:42 · 3 answers · asked by Bella_Baby 1

someone told me this but i didn't get the chance to ask details. Is it true?

2007-10-17 10:58:33 · 7 answers · asked by the lady in red. 1

2007-10-17 10:48:53 · 2 answers · asked by Chris G 1