United States - October 2007

I'm planning to save my salary proceeds in an interest-earning savings account but i'm worried the gov't will still get a chunk of it eventhough they already removed taxes from the salary. What about the interest? Is it taxable? How much? Thanks for your answer.

2007-10-05 11:37:36 · 5 answers · asked by aeg22 1

I just received a letter from the IRS claiming that I owe over $10,000 for failing to file a tax return from the year 2000. I know, I know...unbelievably dumb. I agree. Suffice it say, I went through trying time personally and wasn't exactly sure I was going to be around in another year or two for it to make a difference.

I've picked up the pieces of my life. I'm still very much struggling financially but at least want to stay in the game and get back on track. I don't know, though, that I can pay this fine with my limited financial resources (actually, it's absolutely 100% impossible). Can I plead for an installment plan? Can I get the interest removed? I know I don't deserve pity as I didn't act in good faith at the time, but I absolutely cannot just fork out 10 grand to put this to bed.

2007-10-05 11:27:22 · 5 answers · asked by ayumi83himeji 2

I am just married after 1 year of being engaged.
My wife is a full-time student in a four year college, she has no source of income and has relied only on me for the past two years.(even though her parents have claimed her as a dependent for these past years) I am however, out of college and have a full time job. Now that we are married would I be able to claim her as a dependent on my tax returns. This would probably help out our financial situation greatly, if I was able to do so.

I prefer individuals that are knowledgeable and not guessing to
answer my question.
Thanks

2007-10-05 10:53:33 · 7 answers · asked by Anonymous

I was just offered an entry-level position @ $30,000.00. That equates to $2,500.00 a month gross. How do I figure out what my paycheck will be every two weeks? How do I figure out how much will be taken out if I claim no dependents. I live in New York state btw...

2007-10-05 10:23:48 · 3 answers · asked by parker 2

My employer takes alot of money out of my paycheck for FICA!

What happens to that money when I reach the retirement age? Can I get it ALL back at age 68? Or do I have to qualify for my own money?

2007-10-05 10:14:23 · 9 answers · asked by Anonymous

i am an income tax preparer and the tax season is over so i dont know what to do!! can somebody help me?

2007-10-05 10:07:57 · 3 answers · asked by Myrna B 1

can my accountant go for me

2007-10-05 09:45:12 · 2 answers · asked by rockwyou 1

2007-10-05 09:26:28 · 7 answers · asked by rockwyou 1

What if you just wait to send in your taxes after the deadline without actually filing yet? Say you owe and the deadline extension is october 15th 2007 and you wait to file when you have some or most of what you owe?

2007-10-05 09:24:10 · 2 answers · asked by lukin4mimojo 1

First off what is the difference. Mostly what is the best way to select these things if you want to get not too much or too little back on your taxes and NOT have to pay at the end of the year. Here Is my situation. I am married and plan on filing jointly because that is best RIGHT so.. should I claim myself AND my husband as an exception or NO? I don’t understand this. If I do should he do the same? Any feedback would be great.

2007-10-05 09:17:10 · 2 answers · asked by Anonymous

about 200k in saving. Do I have to pay tax when I receive the check as my name for my individual tax? I have paid all the taxes as corpration.

2007-10-05 09:06:38 · 4 answers · asked by MASAKI A 2

2007-10-05 09:01:47 · 8 answers · asked by Anonymous

2007-10-05 08:52:07 · 5 answers · asked by Andy 2

I recently cashed out some Stocks and Savings Bonds and was wondering how much I had to save for taxes. I cashed out $6,750 in Savings Bonds and $4,500 Stocks. I'm gonna file single and no taxes have been paid on any of the stocks or bonds and this is for 2007. Is it still 10% up to $7825 then 15% on the rest? If that is my only income in 2007 am I right that I'll owe roughly $1,300 for 2007? Doesn't have to be exact just making sure I save what I'll need to pay for taxes so I won't be in debt. This is the 1st time I've messed with stocks and bonds (Oh yeah, They were EE bonds) and not sure about taxes on them. Thanx

2007-10-05 08:38:26 · 7 answers · asked by Jeremy 1

We live in Virginia. Total household income is $84,000. The private stock was free to us (me) years ago from a family business worth about $85 million. What will be our federal and state taxes on this check?

2007-10-05 07:49:21 · 8 answers · asked by todd b 1

2007-10-05 07:28:38 · 4 answers · asked by Anonymous

I was hired to work for a company and I have been receiving checks from him without taxes being taken out. Here are a couple things...

1) I am just myself, no wife and kids... doing a 1099 though I have not filled anything out yet...(make sense?)
2) I was called to get general liability insurance so when his company is audited, I have proof. He gave me another option of going under his but ... I would still pay?? I figure that should be his doing
3) The company I work represent is his side company but I receive checks from a ceiling company he owns, again this is a tax free check.

Question part B
I don't think I am being screwed but my guess is he's saving his *** from the audit, correct? Well how is it that I need GL insurance when I don't have a company or anything of that sort?

2007-10-05 07:24:06 · 2 answers · asked by anotherday 1

i am 26 single mom of 1 child recieve no child support make aprox 27 k a year. i get earned income of about 3k when i file my takes. i use this money to suppliment my income (meaning i couldnt pay all my bills with out it). my live in boyfriend does help me financially (no where near like he should) question is if i where to marry this guy would i no longer recieve my 3k earned income. lets say he only makes about 13k a year. if i did marry what would be my best bet at filing, married but filing seperate ?? i am trying to figure out if i can afford to get married, lol.

2007-10-05 06:36:26 · 3 answers · asked by love2last 4

Since 1992 through 1998 I was in college. I did not work and took out financial loans to pay for college costs. I did not file tax return for those years, should I have?

Since 1998 to 2004 I worked low paying jobs and everytime I would walk into a Tax Preparation office to file a tax return, the tax preparer would state 'You can file BUT you didn't make enough money to file'. What does this mean and what is the income per year that doesn't require you to file a tax return?

In 2005 I worked two salary positions and got scared to death since it has been sooo long since I have filed a tax return, and I did not file. What should I do now?

Since 2005 to 2007, my wife operated a child home daycare and I had no income. If I didn't have a job, do I still have to file a tax return?

Very recently I received an offer from a company and would like to begin working. Is there anything I have to take care of before I receive my W-2 from this employer in January 2008 so I can file for this job? Thanks for anyone who helps me with these questions!

2007-10-05 06:16:52 · 6 answers · asked by FilingReturns 1

I know that there are so many variables to consider in this question, but I would like to know a general figure about what to expect. I make less than $21,000/year. I hope to get an Earned Income Credit, as well as deductions for my two children and a home office (room used exclusively for my homebased business). I'm trying to work from home, so I can afford to continue giving my son homebased autism therapy. Do you think my tax refund will be around $3,000? If so, I can use that money each year to prepay a year's worth of rent in a mobile home so that I can continue what I'm doing. Not the typical way of doing things, I know, but I'm just trying to avoid putting my son in a public school autism class, where he wouldn't receive nearly enough individualized attention.

2007-10-05 05:58:49 · 2 answers · asked by merebear83 2

How much of a write off do I get for my new business as a whole? For start up, we have spent about $8,000 for equipment, supplies, uniforms, etc. and so far we have made about $1,000. How does that work...will we owe? :/

2007-10-05 05:46:13 · 3 answers · asked by Viennacardinal 3

I know the tax rates are different, but if I offset a $1,000 shorterm gain (held 4 months) by selling another stock for a $1,000 longterm loss (held two years), will this net zero?
Thanks

2007-10-05 05:06:20 · 1 answers · asked by ? 3

my question is are there a part in the contract they sign between the attorney office and them that said this will be taken care of this year (contract is long and confusing) and another thing is on the bill, where it has the owner it saids owner as of january 1 and has somebody else name there, but it is my parents house.

2007-10-05 03:34:36 · 3 answers · asked by jesuisjean13 2

If I were to make 25,000 in a year, about how much would i lose in taxes (before tax returns). I'm about to change jobs for a major pay cut (like more than half) and i need to know this before I bounce from the job i despise.

2007-10-05 02:44:30 · 3 answers · asked by Andrew M 2

2007-10-05 01:08:49 · 9 answers · asked by Anonymous

2007-10-05 00:36:48 · 11 answers · asked by Cindy G 1

2007-10-05 00:19:34 · 1 answers · asked by Banker 1

I decided to file Scedule C because it is easier. I have been selling things since December 2006 and need some advice on how to pay taxes retro... or even mention it?
Let me know guys, Thanks a bunch.

2007-10-04 22:51:56 · 3 answers · asked by Dental B 1

2007-10-04 18:55:36 · 6 answers · asked by emil g 1

If someone owes over $8000.00 in back taxes and have yet to file for about 3 years ( not included), what would be the best way for them to go about paying off their taxes ( a little at a time if possible).....or do they need an attorney or can they call the IRS and set up payments?

2007-10-04 17:40:03 · 5 answers · asked by WHOISTHEPUPPETMASTER? 5