United States - November 2007

I just got approved for food stamps. What will happen when i get my tax return. Will they count that as income? How will they know...

2007-11-14 19:38:02 · 4 answers · asked by imbri_33 1

I am currently an accounting major and plan on getting my bachelors. If I get an entry level job right out of college making about 35k a year (avg is 35-45k) and I consider taxes it doesn't even seem like enough to live on. We discussed taxes in class today and the professor said we can expect at least 40% of our salary to go towards taxes...

35,000 x .40 = $14000

$14000/12=$1166.66

Considering the price of rent in my area... its pretty depressing

rent , car payment, and student loans ... CAN YOU SAY BROKE ?!

am I getting something wrong?!

oohhh and I'm located in the Ny area.

2007-11-14 18:49:02 · 4 answers · asked by hmmmm 1

I went to H&R Block last year to get my taxes done and they told me I could not deduct the taxes or interest paid on my home because it was under $10,000 but I was told later that this was untrue. Who is right? If I should have been able to deduct my interest and taxes last year can I deduct them this year?

2007-11-14 16:03:15 · 8 answers · asked by dc3886 2

2007-11-14 15:54:32 · 7 answers · asked by Anonymous

Do you have to file a tax return if you have no income? Thank you.

2007-11-14 14:41:58 · 5 answers · asked by sheri 1

2007-11-14 14:28:15 · 0 answers · asked by griffinzollner 1

How much can a family of 5 (two married parents and 3 children) gross and still get the earned imcome tax credit. Looking on the IRS website, it says the amount for have one child, then for having two kids (I think its $36000.00..gross). BUT I cant find what the cut off for a family with 3 kids would be. Does anyone know?? Thanks

2007-11-14 14:08:51 · 6 answers · asked by samantha 4

What kind of tax do I have to pay and how much when buying a car from another state and registering it in the state I live????

2007-11-14 13:45:51 · 6 answers · asked by udontcea 2

2007-11-14 13:13:25 · 5 answers · asked by redbone001 1

Just curious to see if any one knows: If you get a work at home job, or online job, does it get reported on your taxes? I know it might count as another job, but will the government charge you more taxes (you will owe them money, instead of getting any back) for that type of job?

2007-11-14 12:59:28 · 5 answers · asked by lovelydulce01 2

and know that your money was really going to help needy people recover... or pay medium taxes and have needy people get shoddy help that doesn't really work?

Sort of like would you buy yourself a reliable car for good money, or a junker that may keep taking more money and never work well....
Cause you get what you pay for, right? Even with social services.

2007-11-14 12:43:37 · 4 answers · asked by wawawebis 6

Facts:
- I have not lived at home since I was 18. My parents did not give me a living allowance. I paid for school through student loans.
- I turned 21 in March 2006.
- I was a full-time student until August 2006.
- I began working full-time in August 2006. (I made about $15,300 for the year. Long story short, my student job was through federal work study.)
- I got married in October 2006.

I filed (married/joint) and my mom filed (claimed me as a dependent) taxes for 2006.

The IRS sent both of us letters stating that we need to "get our story straight."

My mom is upset because now she owes something like $3,000 for claiming me as a dependent whereas I wasn't her dependent. Her accountant has suggested that I refile as married/separately... so I pay something like $1,000 and my mom can claim me as a dependent.

Does this situation sounds strange to you? I think her accountant doesn't know what she's doing. Recommendations?

2007-11-14 12:28:07 · 13 answers · asked by emilieluvsparis 1

2007-11-14 09:58:01 · 9 answers · asked by Kenneth D 1

im a 1st time home owner!!well,a condo owner.i understand i will get a decent tax break every year.and i understand home improvements are tax deductable,what does this mean?i get the taxes i spend on these items back.if mortgage is in mine and my girlfriends name,do we split the tax benifit,can we BOTH claim the home improvemen\ts

2007-11-14 09:42:01 · 5 answers · asked by jesse12508 1

I have a question on itemizing mortgage interest on form 1040.
I bought my first home last year, when I did my taxes they said I didn't have enough made in interest to itemize my interest. I think they told me I needed $10,700? In order to itemize it. My question is, this year I have enough to itemize my interest. How much do you get back approximitly? For someone who makes about 40k a year jointly with spouse? Will it be chump change or is it a nice chunk of change?

2007-11-14 09:38:35 · 8 answers · asked by Mark M 1

Some places say 8% some say % others are right in the middle. Then you have some paperwork say another percent and you cut that in half. Does anyone know the TRUE percentage so that i can start figuring out how much i need to save to pay off SS & M.

2007-11-14 09:15:04 · 2 answers · asked by Joshua C 2

My grandparents passed away about 7 years ago, my father passed last year. Only after my father passed with their house probated and my father received a 1/3 interest. I am his personal representative and I need to split his portion between my brother and myself (about 15,000 each) Do we need to pay any taxes on this in the state of Minnesota?

2007-11-14 09:03:15 · 2 answers · asked by Shanysue 2

Here is my situation. I am an IT consultant working by W2, and this year i would have made about 15k (worked 6 months), and 6 months of unemployment which I had them take out the taxes for.

Recently I did a programing job for a company in NY. They payed me $3,000 (company check).

What am I supposed to do? Deposit it, and fill out a 1099 when I do my taxes? Is the company supposed to send me a form so I can do the 1099? I am not sure what the procedure for this would be, but if you guys can give me an idea of how this works I'd appreciate it.

I don't want to have any problems when I deposit this and do my income tax in january.

Thanks in advanced.

-Lex

2007-11-14 08:06:21 · 6 answers · asked by Alexander M 2

I am filling out my W-4 and wondering if I am considered Head of Household. I am a full-time student, and I work full-time as well. I have my own apartment (renting) and I pay all the utilities and support myself. Does Head of Household mean you have to own a house?? Thanks!

2007-11-14 07:47:16 · 14 answers · asked by Anonymous

2007-11-14 07:12:44 · 3 answers · asked by Anonymous

My financial and living situation has recently changed, and I checked the federal tax website. The website says I get 11 exemptions. I need to contact my employer to let them know, but where on the form do you put your exemptions. Do you have to specify, or do you just put a number? I am not stupid, I promise. I just forget what the W-4 even looks like at this second. Thanks!!

2007-11-14 07:05:09 · 7 answers · asked by Anonymous

HAVE MORTGAGE, EQUITY LOAN , THREE DEPENDENTS(TWO KIDS AND WIFE)

2007-11-14 06:43:23 · 6 answers · asked by PAPA MOISES 1

2007-11-14 06:14:39 · 5 answers · asked by Janet K 1

if the house sales for $25,000.00 less then the price it's worth do i have to pay taxes on that?

2007-11-14 05:36:11 · 7 answers · asked by Anonymous

I earn $5000 monthly and my deductions are as follows:
FICA $310.00
Medi $72.50
Fed $835.58
State $254.10
Local $30.00
total $1502.18
which leaves me with Net pay $3467.82. I am 23yrs single male, with no kids, mortgage, car note and live in los angeles. am i paying to much in taxes (if so, why) or is it just about right? what can i do to reduce my deductions? I also need the explanation of FICA and Medi. Thanks

2007-11-14 05:33:37 · 8 answers · asked by Anonymous

I am currently working for the USPS and am married. Together me and my wife should make close to 23,000 for the year. I make 12.79 an hour and average 33 hours week. I claimed S1 and have a large chunk of my check taken out each week for taxes and what not. I also received student loans this year for college, and have attended college the full year. What I want to know is how much will I owe the federal government at the end of year.

2007-11-14 05:17:15 · 6 answers · asked by mike h 1

Where can I find this information?

2007-11-14 04:47:27 · 4 answers · asked by atvman_400 5

2007-11-14 04:46:30 · 11 answers · asked by mstatl 2

how soon can i get my return if i were to do it today?

2007-11-14 04:36:56 · 4 answers · asked by Brandi R 2

I work a full time job now getting paid 9.70 an hour.. Im 19 years old and live at home but will be living alone in the next couple months.. i just want to make sure that i wont be owing too much money at the end of the year.

2007-11-14 04:15:43 · 6 answers · asked by LisaRose 1