United States - December 2007

How would the ss payments be affected? Is there anything I can do to maximize my benefits? Can I contact social security adminstrtion and tell them I will not work until 62? Would it help? How many years in the past do they look back to calculate retirement benefits? I am not talking about early retirement at age of 62. I am in USA.

2007-12-26 02:38:40 · 8 answers · asked by qq5121971 2

My mother is elderly and thinking about transferring the title of her house to me.

She bought it decades ago for $25,000.

I do not live with her.

If I later sell the house, will I have to pay capital gains taxes on the "profit" of $100,000?

If so, do you have any advice on how to minimize taxes in this situation?

What would happen if she simply added me as co-owner as "joint tenancy with rights of survivorship?" Am I correct to assume that I would again in this situation owe taxes on the $100,000 if the house is sold after she passes away?

2007-12-26 02:06:54 · 20 answers · asked by Anonymous

when doing your taxes , do you put your gross wages or your gross taxable wages on the line that says wages, salaries,tips ect.

2007-12-26 02:06:19 · 3 answers · asked by Anonymous

We were togather for 4 months in 2007. She has moved out and has her own place .Our four kids live with her. We havent filed any seperation papers and still get along well. Would we have a better return by filing seperate or should we file joint.

2007-12-26 01:00:22 · 11 answers · asked by Bill G 1

I have charitable contributions for this year in excess of $2,000 .
How much of these deductions can I CARRYFOWARD into the future and, if so, for how many years?
(My charitable contributions are donations of books to public libraries)

Thanks for help.

I was on hold for 6 hrs with IRS with no end result answer.

2007-12-26 00:51:34 · 4 answers · asked by walkathisway 2

Getting killed on one stock this year, what are the rules to sell before the end of the year for tax purposes? Can I sell on the 31st? I dont know if thats too late since the settlement date of the trade might not be till 2008. Also is there a time frame of when I can buy the stock back with penatly etc?

2007-12-26 00:27:28 · 4 answers · asked by Tim6298 2

2007-12-25 23:01:37 · 1 answers · asked by muthu m 1

2007-12-25 22:50:30 · 1 answers · asked by wombat 2

2007-12-25 19:26:47 · 16 answers · asked by Anonymous

I need to file my husbands taxes (he's in the army and in Iraq right now) but I need to include the injured spouse form (because of money I am paying on and old mortgage ONLY in my name not his) so he is not responsible for the debt. I know that I can mail that form into the IRS but I was wondering, am I still able to e-file normally and then send that to them? Or do I have to do an old fashion paper filing and mail it in? Also do tax prep places like H&R Block haves those forms available? And also if I am able to e-file on the IRS website, am I still able to get my refund direct deposited within 10 days or does it take like 8-10weeks to file from the day that they receive the for 8379? I know it seems like a lot of questions but my husband is coming home for R&R January 22nd, which ironically is the same day that the w-2 forms are available online and he will only be here for 18days so I want to know if we will have any money to do anything while he is here on leave.

2007-12-25 18:58:38 · 4 answers · asked by candicekellie 2

I need to know about Tax Preparation outsourced. How to find the best one .

2007-12-25 18:32:36 · 3 answers · asked by Anonymous

do you have to wait until jan 01 or can you file after you recieve your last paystub?

2007-12-25 17:43:28 · 6 answers · asked by jkeeva 1

I'm thinking of adding Ad Sense to my website (when its up and running). My question is, how much do i have to earn before i have to report my earnings to the IRS? My father in law tells me it's over $5,000, then my dad tells me its over $7,000. I'm confused. Can someone help?
Thanks...

2007-12-25 17:37:59 · 6 answers · asked by eternalbeginnings 2

2007-12-25 17:32:28 · 4 answers · asked by jkeeva 1

2007-12-25 17:14:44 · 8 answers · asked by SHANI D 1

2007-12-25 17:11:09 · 1 answers · asked by Anonymous

We will be filing married filed jonit and we have two children one is two and the other is four months old. I stoped working in the middle of the year to stay at home with our kids so my income was wages-14473.31 fed tax-775.50 state tax-329.30 my husbands is wages-50279.82 fed tax- 4631.25 state tax-2221.66 please if you need any thing eles. i will give please just help me>>> i also have a tax write off for my windows this year because we put new windows in we get to write off 200.00. thanks alot. we live in kansas city kansas

2007-12-25 16:58:38 · 2 answers · asked by shannonmendez@att.net 1

I didn't turn in taxes for 2006. Due to an error my husband made claiming his dependents, we owed $700. Had we filed seperate returns, I would have got $600 and husband would have owed $1400. I know it was wrong to do, but we didn't have the money so we just never sent in our taxes.

We definitely need to file our taxes this year! In Oct, had a baby so we'll have child tax credit. Husband corrected dependency error from last yr. I quit my job in Feb when pregnant due to medical problems, so our income this year is approx $25,000 less than it was last year.

How should we go about filing our tax returns? Do we send in two seperate filings for 2006 and 2007? Will they automatically deduct what we owe from '06 out of our '07 taxes? Or will we get our taxes back from '07 and have to send in '06s? Would it be better for us to file married seperate or together as I had taxes due back last year? How will last year change how we need to file this year?

Thanks for any help!

2007-12-25 16:44:04 · 4 answers · asked by Sonya 5

I'm new to investing and opened up a long position and a short position at the same price of 54 per share. 300 shares both ways. Knowing that most likely the stock was going to drop I would eventually get it at a lower price if this happens because every dollar loss in the long position is a gain in the short position making it even out. It has gotten down to 45 and I want to buy to cover and close out the short position, since I think this is a bottom. My hope was to gain when the stock goes back up, but I was unaware of this contructive tax rule I have been reading up on the IRS website http://www.irs.gov/publications/p550/ch04.html#d0e8897 it is very confusing and if someone can help clarify my position or give advice on what to do it would be greatly appreciated. Because it seems like if I do the wrong thing the tax consequences could be killer. Thanks!

2007-12-25 16:19:17 · 1 answers · asked by Anonymous

2007-12-25 15:39:13 · 3 answers · asked by Anonymous

2007-12-25 15:15:18 · 1 answers · asked by Anonymous

2007-12-25 14:57:19 · 6 answers · asked by LITTLEGUY49 1

2007-12-25 14:30:57 · 2 answers · asked by lilbagel21 2

I accepted a better paying job because my common law husband is unable to work due to medical issues. I'm actually only bringing home 600.00 more a month. What deductions should I have taken out of my check to get my tax rate down.

I am presently claiming 0 head of household. In previous years I claimed 1. I used to pay for half of my medical insurance. My present employer pays all of my our medical insurance. I'm not having money into retirement yet but my employer is putting money into my retirement. I just started having 150.00 a month into a medical flex plan. What else can I do to be taxed at a lower rate but not have to pay a bunch of taxes at the end of the year.

2007-12-25 14:30:13 · 4 answers · asked by r_l_h_959 2

How much money would get taken out by taxes in a minumum wage job if the check was 200.00

2007-12-25 13:58:18 · 5 answers · asked by Anonymous

Does the amount of my tax return have any affect on applying for financial aid? And if so, how does it affect it?

2007-12-25 13:35:23 · 5 answers · asked by Spring loaded horsie 5

2007-12-25 13:33:27 · 4 answers · asked by !~Kayla~! ! 1

I had my daughter back in October. Tax season is coming up and I heard I couldnt claim her without her SS number. Is that true? The hospital usually files for it, but someone misplaces paperwork, etc so nothing ever got filed. Also...how long will it take to get a Social for her, since we need the money as soon as we can for bills. Thanks.

2007-12-25 12:28:27 · 8 answers · asked by tattooangel4 2

2007-12-25 12:22:41 · 1 answers · asked by clrcontracting 1

http://answers.yahoo.com/question/index;_ylt=Ale.Acdk9gyriTrmZi4PaP2kxQt.;_ylv=3?qid=20071225143438AA72qua

These were all business expenses - I'm self-employed.

2007-12-25 11:48:49 · 4 answers · asked by alexwitnerss 1