United States - November 2007

income tax

2007-11-10 17:50:43 · 6 answers · asked by Anonymous

is it in the hundreds? or thousands? or nothing!?

2007-11-10 15:50:34 · 12 answers · asked by KnowMe 4

I was due a refund and got a different amount from what I calculated.

2007-11-10 15:10:56 · 12 answers · asked by acorn922 2

2007-11-10 14:04:25 · 8 answers · asked by plcweaver1 3

2007-11-10 12:14:58 · 9 answers · asked by Anonymous

2007-11-10 11:37:59 · 3 answers · asked by J 1

I have a decent knowledge of tax issues but I am having trouble trying to figure one thing out. Someone wants to take a loss on a rental property that was also used for personal use. The property was used 20 days for personal and 150 days as rental. Normally this would mean that he is not allowed to take the loss since his personal use is above the threshold.

The only issue I have is that the property was not rented out by the taxpayer, but a property management company. The company only allows 25 days of personal use per year and is in control of the property the rest of the year. Since the tax payer cannot control the number of rental days, some could argue that he has really rented it to the company for the entire year less the 20 days. This would qualify him for the rental loss since he is below the 10% threshold.

Anyone know any authority for this? Tax court cases would be great.

2007-11-10 11:16:46 · 1 answers · asked by ? 2

I have a full-time job that takes taxes out. I have done work for three other companies this year that were contractor positions. I made about $400 at each job. Do I add it all up, take $600 off, and pay taxes on the rest? Do I owe taxes on any of it, since each job was less than 600? Thanks.

2007-11-10 11:11:32 · 4 answers · asked by Anonymous

2007-11-10 10:04:22 · 5 answers · asked by Anonymous

2007-11-10 09:10:00 · 3 answers · asked by teresita_00 1

I work at a hair salon and my boss does not take out taxes. She says that we will get a 1099 form at the end of the year and we have to pay our own taxes. I was told that she should be taking taxes out of my check every week since I am considered an employee. Is this true? Or can she continue to pay us our full amount and we pay our own? Im confused!:)

2007-11-10 08:47:13 · 7 answers · asked by Morgan S 1

2007-11-10 08:27:06 · 2 answers · asked by charese.payne 1

Like people are confusing and saying its 30% and someone saying its 70% of your pay check.

Like say if someone was to make 50 thousand a year and someone were to make a 100 thousand a year. Would the percentage each pays be the same?

50/.25 (guessing the tax) would pay 12.5 thousand a year

100/.25 would pay 25 thousand a year.

Sorry for all these dumb tax questions, but i need to know this crap for my school project.
Teachers can suck when they don't teach ehh?

2007-11-10 07:29:01 · 6 answers · asked by Anonymous

Do you think its fair that if a lawyer or doctor makes 1 million (guessing) dollars a year and has to pay a crap load then someone who makes 30-60 thousand?

Why do they have to pay more? Why do 30-60k people pay less?

Not really fair if you ask me.

2007-11-10 06:50:28 · 18 answers · asked by Anonymous

The United States Supreme Court held that the income tax act was unconstitutional and ruled in favor of Pollock in Pollock v. Farmer's Loan & Trust Co., 157 U.S. 429, aff. reh., 158 U.S. 601 (1895). The decision that income tax is unconstitutional has never been overturned

2007-11-10 05:28:53 · 12 answers · asked by Anonymous

2007-11-10 04:59:03 · 6 answers · asked by thugman 1

If we owe capital gains how do we find out? When are they due? I forgot to add that we re purchased for 479,000.

2007-11-10 04:49:09 · 2 answers · asked by susanjb2004 2

In addition, you may verify an organization's tax-exempt status and eligibility to receive tax-deductible charitable contributions by asking to see an organization's IRS letter recognizing it as tax-exempt. You may also confirm an organization's status by calling the IRS (toll-free) at 1-877-829-5500.

You may download the electronic version of Publication 78. The download file is a large compressed file, from which you may extract a very large delimited text file. Opening the file using word processing software may prevent formatting/appearance issues that may be present if the file is viewed with a text editing program.

2007-11-10 04:48:07 · 2 answers · asked by RUSerious 7

I chose not to let the casino deduct taxes (at 30%) because the IRS guidelines say that the IRS deducts 25%. I need to know if the amt I won will be considered general income so that my deductions will reduce the final amount I owe.

2007-11-10 04:25:16 · 11 answers · asked by Anonymous

I want to know what my Income tax refund would be if 2007 ended with my last paycheck, I a 21 year old SWM with a 7 month old child am in NY but am withholding 0-0 from my paycheck,
1040

gross pay 20,152.39

Deductions
Statutory:
federal inc tax, 2248.93
Social sec tax 1180.20
Medicare tax, 276.01
NY state income tax
573.86
NY SUI SDI tax 26.40

Deductions
Other:
CNA addl, D&D 22.00

CNA life, 35.20

Dental, 128.70

Health, 899.80

Monthly Charity, 50.00

Vision, 88.44

3rd party W/H child support,
1384.00

401k, 1215.55


Possible additional Deductible expenses,

root canal + Crown,
455 $

about 2,000 in fuel to and from work,

no student loans or mortgage,

as of yet, no daycare expenses.

based off of that information, what can I do to maximize my $ returned to me, and what may that amount be, rough estimates are welcome,...

thanks :)

2007-11-10 02:47:37 · 4 answers · asked by Anonymous

2007-11-10 02:46:44 · 9 answers · asked by 6th Finger 2

This is a settlement from the joint property equity in the estate as set by the court

2007-11-10 02:33:52 · 2 answers · asked by Anonymous

hi can anyone tell if i purchased a car from the usa on the internet from the uk to import to the uk would i have to pay sales tax in the usa please.

2007-11-10 02:08:59 · 2 answers · asked by darren m 1

2007-11-10 01:54:12 · 4 answers · asked by stevensutherland 2

To buy something from someone, not as a gift.

2007-11-10 01:36:26 · 2 answers · asked by Anonymous

if so how did it turn out? Did they do what they said they would do?

2007-11-10 01:36:18 · 2 answers · asked by elizabeth 4

New cigarrette tax, more taxes on everything, and letting tax credits for middle income family are allowed to expire all in order to fuel the overspending of the government. And lets not forget to tax 20% of the American public more than others by continously upping taxes on smoking ( 7? times since 2000). Doesn't this sound a bit like discrimanation against a minority of population?

2007-11-10 01:10:30 · 4 answers · asked by Gunny51 1

Let's say I made $5000 for only one month last year abroad, do I pay SS/medicare? Would I be considered self-employed?
Take another senario: I lived abroad for 350 days, went to school during the year and made only $5000 during the summer break abroad, do I pay SS/medicare? What Fed income tax forms do I use? The 1040, 2555, anything else?

2007-11-09 23:58:07 · 1 answers · asked by hmguesswho1 2

2007-11-09 23:41:55 · 5 answers · asked by James S 2

Ron Paul wants to get rid of the IRS, well then, something's gotta give, right? If not, convince me, I want to be wrong.

2007-11-09 23:12:59 · 6 answers · asked by ? 1