United States - December 2007

I will be paid directly into my bank account from overseas. What would my best option be with regard to tax. Should I get my own tax id and have my own company. I am clueless on this and so is my accountant as far as I can see. Any advice would be greatly appreciated..Thanks

2007-12-13 02:56:00 · 4 answers · asked by debhosc 1

In which of these situations (all of which I have been in over the last 2 months) is mileage tax-deductible?

1. Daily commute to the church where I work 25 hours per week but am considered an independent contractor (I use their equipment but pay my own social security).

2. I also am a sole proprietor of a website design and hosting company which I started 18 months ago. When I meet with a client at a coffee shop, for example, is travel to and from the coffee shop deductible?

3. For extra income, I also do websites (paid per site) for a medical management company. Once per week I go to their office to drop off completed site folders, a CD with all sites on it, and pick up new site instructions. I am an independent contractor but also considered "staff." However, all work is at my location (not theirs) using my equipment and on my schedule. Can I claim mileage for this?

4. If I use my personal vehicle to run errands for the church (see question 1) are those errands deductible?
*more*

2007-12-13 02:52:11 · 7 answers · asked by Joel N 2

In New York State is my employer legally obligated to give me payed sick days?

2007-12-13 02:41:48 · 10 answers · asked by Baby N 1

HOW DO I GET THE THE MONEY AND FILL OUT THE FORM

2007-12-13 02:30:54 · 3 answers · asked by Gregory P 1

Yesterday I asked - I started a corporation this year and was unable to really pay myself. If I have no income can I expect to get anything back if I have appox. 30K in deductions. I am talking about personal taxes not corporate. Can I expect to get anything back on my personal taxes. Regardless of my income I still had the same expenses with help from family and I still have the same deductions.

2007-12-13 02:25:43 · 4 answers · asked by Anonymous

I paid $250 to adopt a dog. This included the care that he received to that point, incurred by the shelter (vet care, shots, food, neutering). I was told that this was considered a donation. Since the shelter would be a non-profit organization, can this "donation" be considered tax deductible?

2007-12-13 02:21:57 · 8 answers · asked by nipsy3 2

My husband and I are trying to refinance our home mortgage with some other credit cards. We were approved by a bank and then they saw our tax returns that show my income after deductions for my in home daycare. Debt to income was too high and loan was not finished. Loan officer said I need to give myself a W2 for earnings and then I would be approved. So, how is that done and does it affect our taxes in the end? Also, is it possible to get W2's made for previous tax years?

2007-12-13 02:07:51 · 2 answers · asked by Anonymous

My expenses include air travel, rental car, hotel and meals. He was in the hospital for 4 months and died as a result of his sickness.

2007-12-13 01:46:04 · 5 answers · asked by wedding dad 1

I entered a contest and won a $250 gift card.
-Do I have to report this to the IRS and pay taxes on it?
-If so, will the place I won the gift card from give me paperwork or am responisble for it myself?
-What percentage are prizes taxed at?

2007-12-13 01:37:31 · 9 answers · asked by ♪ La La La Not Listening... 3

I worked really hard, all year i mean, exceedingly hard.. amazingly hard, because i had alot of debt from college and earned a $10,000 bonus and on my final check of the year I got it, and it was taxed at 48%. what in the world?

2007-12-13 01:32:55 · 7 answers · asked by Drew W 2

2007-12-13 01:02:01 · 4 answers · asked by Tracy S 1

My husband and I have custody of our two grandchildren, and have had them since February, and we are going to file them on our income tax. The trouble is that their parents let the other grandparents file them last year and feel that they are going to try to do it again this year. What is the earliest date that we can file our taxes so that no one else can claim them?

2007-12-13 00:56:01 · 6 answers · asked by cajun_queen_1970 2

My job offers matching to 4% but I have 10% going into it.
Should I just keep the matching 4% going into my 401k and then put the rest (6%) into an IRA?

I know We get a tax break if we put money into a IRA but not a R-IRA because there will be not tax on the Roth on the back end but
Do we get a tax break on the money we put into our 401k?

2007-12-13 00:48:20 · 4 answers · asked by imadnesss 1

I am having a new heating system installed in my home.Is that tax deductable?I am self employed,but work out of the home.

2007-12-13 00:12:14 · 4 answers · asked by Cheese 5

I'm having my kitchen renovated by a licensed contractor. The contract states that I'm responsible for purchasing the materials. I pay him labor only. He is charging me taxes also. Is that legal?

2007-12-12 23:36:28 · 2 answers · asked by granny2step 1

When can I fill out an SS-8 form? Basically, I believe I was an employee and not a contractor. Should I fill out this form and mail it in before I file my taxes?

Thank you.

2007-12-12 23:21:48 · 4 answers · asked by chris 2

out of our pay packets it will be good to find the truth does any one know. tin of baked beans would be close to 69%

2007-12-12 22:35:31 · 5 answers · asked by david p 3

If I formed my own company because I was a 1099 overseas security contractor, and I buy a vehicle, can I write that off?

2007-12-12 21:30:04 · 3 answers · asked by chris 2

This term found in "The California Nonprofit Corporation Kit"

2007-12-12 20:49:17 · 4 answers · asked by christopher.verzonilla 1

For all those who undrstand the tax implications of the 401k and traditional (not ROTH) IRA's. When finally paying taxes on these pre-tax retirement funds, are you taxed on the bracket you are in when you withdraw the money, or the tax bracket you are in when you put the money in originally? Are there ways to avoid paying the higher taxes on these funds if your tax bracket does change, especially if you bracket changes because of how much you are saving in these funds? Hope that is clear...

2007-12-12 20:38:00 · 5 answers · asked by 65Cobra 2

i'd like to be able to pay my taxes to my savings account each check and collect the interest myself, and just make a huge payment at the end of the year. but im unable to find an answer to this question anywhere. thanks.

2007-12-12 20:07:22 · 3 answers · asked by r douglas 1

I fill out a schedule C for a home business, and he works a normal job, can we file separately as married? What would allow us the most money back? We have no kids, no investments, no interest income, no mortgage, just the basic 1040a with no frills, thanks!

2007-12-12 19:50:42 · 9 answers · asked by SmartazzU 2

Why is the IRS so heartless? Why do they take away people's lives for not paying taxes?

2007-12-12 18:54:44 · 6 answers · asked by chris 2

she dont claim taxes but she always lets here mom claim them the kids don't leave with the grandma will my husband get in trouble with the IRS if he just claims them and not tell the mother since he is paying a whole lot in child support and is up to date and she's not claiming any taxes doesn't my hubby have 2nd to her

2007-12-12 18:53:38 · 2 answers · asked by Anonymous

Donate $5000 worth of stock, held for over a year, to a charity from a brokerage account

or

Donate $5000 worth of stock held in my IRA or $401k plan.

Assuming I paid $1000 for the stock in both accounts.

What are the tax advantages or disadvantages?

2007-12-12 18:51:46 · 3 answers · asked by cob 2

2007-12-12 18:47:26 · 3 answers · asked by don_dove 1

2007-12-12 18:14:06 · 3 answers · asked by Anonymous

If I owe the IRS 14k dollars. (l was a 1099 contractor and lost my job. No unemployment had to live off savings)

How long will they give me to pay it off? Can I pay it off in 3 years if that is all I can afford?

Thank you.

2007-12-12 17:52:16 · 6 answers · asked by chris 2

I'm writing a movie and part of it is where a guy want to sell his business to a foreign party so he won't have to pay taxes - so he can keep it all. is it possible to do this? it doesn't have to be a foreign party - looking for a plausible loophole. thanks.

2007-12-12 16:50:04 · 4 answers · asked by miked2023 1

I know the general answer to this question is that married persons must file as married, but I have a special situation. We got married this year, but live in separate states as we are finishing our training. We have lived separately for the entire year, and have 2 different apartments. Does this allow us to qualify for single status? We do not qualify for head of household because we do not have dependents. The reason we'd like to file as single is that we have a significant amount of loans, and its our understanding that if you file as married, you can only make one deduction in the amount of 2500, whereas if you file as single, we can each deduct 2500. We each have a lot of itemized expenses.

2007-12-12 16:47:58 · 5 answers · asked by Anonymous