United States - October 2007

If someone sells a piece of land that he or she owns in a foreign country, is this going to have to be reported as income to the IRS for taxes that are due?

2007-10-16 20:18:23 · 9 answers · asked by Anonymous

cheapest amount

2007-10-16 19:54:26 · 8 answers · asked by Anonymous

I work at sears..and my gross for the year will probably be around 7,000. IDK what I claimed. I have no idea how taxes work, do I get back all of federal and then some state? What percents? I live in maryland

2007-10-16 17:25:35 · 4 answers · asked by Anonymous

This is for a college math class..I'm trying everything I can here!! Can anyone help out with ANYTHING on this loan problem? I have a test tomorrow, and our professor didnt go over this problem with us:

The Smith's want to buy a $144,000 house. Their income is $50,000 a year. They have $30,000 in savings. The current rate of interest is 7.2% APR. They would like to take out a 20 yr. loan. Taxes on this house is $2400 a yr. and the house insurance is $300 per yr.

Questions:
1. Can they afford the home?
2. How much can the Smith's afford to pay/month on the house, taxes, and insurance?
3. Estimate the total pay for the house.
4. Can the Smith's make a down payment?
5. What is the house payment not including taxes and insurance?
6. How much will the Smith's pay for this house at the end of their mortgage?
7. How much interest will they pay at the end of theis mortgage?
8. What will their monthly expenses be on this house?

If anyone has any input, please help!

2007-10-16 16:31:44 · 3 answers · asked by -♥-lovely 4

I am a college student studying taxes.
In my book it briefly mentioned that you can claim a vehicle expenses deduction. I know that for business purposes there is usually a deduction or reimbursement from your employer, but is there a deduction for a car with personal use.(either mileage or gas expenses) Also as a student would it benefit me to depreciate my car? (Not sure if I can do that either?)

2007-10-16 15:35:01 · 4 answers · asked by Chris R 1

(as in the movie Shawshank Redemption) Is it still? Was it ever?

2007-10-16 15:31:22 · 8 answers · asked by bottabing 1

I was just wondering how old do your child have to be to claim for taxes-

2007-10-16 15:26:12 · 4 answers · asked by Anonymous

need to figure what my taxes will be on house i just had it appraised but need to find out what percentage im being taxed for property

2007-10-16 15:07:51 · 7 answers · asked by ben b 1

Hubbs n me went to pay our city taxes Monday,all $1400.00 of them, we were late and we knew it, we thought the cutoff day was Monday, turns out it was Friday..........long story short,,,,,someone bought our taxes!!!!!!!!!!!!! We hear in 5-10 days what amount it will cost to buy them back,,,,anyone heard of this???
THANK YOU for you input, ((one tired mom of 4 ages 14,13,12,8))

2007-10-16 15:00:22 · 3 answers · asked by anonOmiss 2

My friend owes about $180K (since 2000) in Fed and Calif. back taxes. She was diagnosed with leukemia, and has not worked since 2000, but the governments continue to pile on late fees. She will never be able to go back to work. Do those lawyers I see on TV really help ? Does anyone know any that are good ? Are they just a sham?

2007-10-16 13:51:38 · 7 answers · asked by dar 3

2007-10-16 12:58:54 · 2 answers · asked by motherpeanutbutterbutinsky 6

2007-10-16 12:06:51 · 2 answers · asked by rmiles1968 1

I've been hearing everyone complain about the "new Michigan taxes" but I really don't see what has happened. I know there is something about a 6% sales tax, but nothing else. Could someone explain it (in English, if possible). Thanks!

2007-10-16 11:41:11 · 2 answers · asked by Dreams ~ 2

I was told that it is against the law to give me overtime pay or time off for work done on my own time in a part-time job. Is this true?

2007-10-16 10:08:01 · 7 answers · asked by billandroe@sbcglobal.net 1

2007-10-16 09:25:36 · 5 answers · asked by Marius O 1

Just wondering

2007-10-16 09:21:15 · 11 answers · asked by lisac 1

I bought a home, live in it and renovated it. I lived in it for 15 months, then I bought another home. I put the house up for sale when I moved, but did not sell it until 9 months later. So, the house was my primary residence only about 66% of the time I owned it. I sold the house less than what I paid and invested into it. Can I deduce the losses from my taxes?

ps. I understand the law states I cannot deduce a loss from my primary residence, but what is the deal if it was my primary residence for only part of the time?

2007-10-16 08:30:30 · 6 answers · asked by Ricky V 1

I'm thinking of donating about seventy items of nice clothing. How do I figure out how it will affect my taxes? I mean how much will it actually matter, money wise? I guess I don't get the whole tax write off thing, not to sound dumb. Thanks for your help!

2007-10-16 08:04:04 · 11 answers · asked by Carrie 4

I will obviously have to pay taxes and incur the gov't tax penalty for early distribution, so I'm not sure if it's worth it. Should I just let it sit?

2007-10-16 07:56:41 · 6 answers · asked by slamb7 1

2007-10-16 06:26:39 · 7 answers · asked by Taxpayer 1

dont worry im not trying to get someones social security number im looking for mine so i can get this job im applying for an could u give me the website for it plz

2007-10-16 06:13:23 · 6 answers · asked by Anonymous

When she gave money to a girls school in South Africa, it seemed strange to me that her charitible efforts would stray so far from home. Everything happens for a reason, especially when money is involved. So, did Oprah accountants find a loophole in the tax laws? Is it better to give overseas, than at home, from a tax standpoint?

2007-10-16 05:59:46 · 5 answers · asked by Anonymous

2007-10-16 05:33:50 · 3 answers · asked by margo 3

My husband and I have owned our current (Georgia) home for about 27 months (as of Oct 07). If we sell this home and don't want to buy another immediately, how much would we have to pay to capital gains tax (federally and/or to the state)? How long would we have to buy another home before we would have to pay this tax amount? Any other info that might be helpful? Thanks in advance for any advice!

2007-10-16 04:47:48 · 4 answers · asked by Anonymous

I just got married in June and was wondering if it is better for my husband to claim me or for us to file seperatley? This is our first year owning a home together and he also has a rental property. He makes 2x as much as I do, but there any credits for him claiming me? Thanks!!!

2007-10-16 04:33:30 · 6 answers · asked by It's a girl due 5/11/09 4

Suppose I bought a stock 364 days ago, and I have a loss.

Is it better to sell now, and get a short-term loss, or wait two days and get a long-term loss?

Assume I've got both short-term and long-term gains that could be offset.

2007-10-16 04:28:17 · 6 answers · asked by cosmo 7

For example, I pay 1000/mo alimony, I am in the 28% tax bracket. Is it OK to have the IRS not withhold that $280/mo?

2007-10-16 04:24:24 · 7 answers · asked by Anonymous

I bought tools for my job and they are required.

2007-10-16 03:48:55 · 5 answers · asked by m s 1

Yeah I got two questions more if you don't mind :P

where does the national debt come from?

when the fed reserve lowers the interest rates why does the stock market ralley but dollar deflaits?

Thanks for helping me I really appreciate it.

2007-10-16 02:17:27 · 1 answers · asked by No doubt 1

I have 3 qualifying dependants. I typically file head of household(since i'm single parent)..I was told, for the Earned Income Credit, the max limit is 2 kids(in order to receive this credit), so what's the limit when it comes to claiming the Child Tax Credit?

specifically, Am I able to recieve the child tax credit on all 3 of my dependants, thus having a greater refund on my federal tax return? i owe no taxes, to date. Help?

2007-10-16 00:20:33 · 4 answers · asked by wonderfully made 1