United States - December 2007

tax refund process? I usually efile and do the direct deposit.

Is any aspect of my tax return filing scrutinized "more" due to the fact that I owe them money -- which will be taken out against my refund check?

I'm just concerned that the normal process will be slowed significantly.

THANKS!

2007-12-25 10:51:01 · 4 answers · asked by Anonymous

I am about to start in Real Estate, so I want to know what are consider business expenses. Are this?
Lunch/Dinner with client
Car (gas, miles)
Adverstising
Business Cards
Work clothes, etc.

I am 98% sure of all of those being business expense that I can deduct on my taxes but I am not sure about the work clothes, I just spend about $350 dollars in work clothes to look presentable now in January 2008 since that is when I am starting, also I just bought a $250 on a phone (treo) since that is the one that can unlock the lockboxes for when I am showing the homes, so would I be able to deduct that in 2009 when I do my taxes as a self emplyed?

Thanks

2007-12-25 10:42:05 · 6 answers · asked by TXgirl 2

Back in 1996 my dad asked me to purchase a house for him in my name but he'd pay the bills. Every year for taxes I claim I owe the house and give him the money that is due to him. In 96 the person who did our taxes told us my dad had to put this info. in his tax report since he's the one who actually pays for the house every month and not I. The problem is that HIS tax guy told him I had to put it in my tax report each year and give him the money. Even though it was very frustrating my husband and I did this for six years. My dad sold that house this year and we live in different states and we both go to H&R Block for our taxes and both offices tell us the other party has to claim what he received ($30,000) from selling that house so we're both very frustrated and don't know who's going to claim that money when tax season comes he who actually paid the house or I, the name under which the house is in? As soon as the check came in my name I gave it to him, IT'S NOT MY MONEY!! HELP!!!!

2007-12-25 10:02:56 · 6 answers · asked by Wiser now 3

The only problem is that I can't find those receipts -- am I going to go to jail? These were all cash-paid items and the store can't retrieve them either.

I really don't want to get into trouble with the IRS and will pay additional tax and penalty if I have to. I just don't want to go to jail for this dumb thing. The deductions in question were about $7K and I made $30K last year.

Please Help

2007-12-25 09:34:38 · 5 answers · asked by alexwitnerss 1

2007-12-25 08:55:38 · 4 answers · asked by kinghood3000 1

I recent made $300 by selling stuff on eBay. I know we have to file taxes, but how does IRS know I made a profit?

2007-12-25 08:51:43 · 3 answers · asked by Joe S 1

I made over $70K in 2005 in the 25% tax bracket.

On the form 1099 form, they've already taken out

1910.18 = 9,550.91 (gross amount) * 20%

On top of that, I have to pay an additional 25% on the 9,550.91

Is this about right?

2007-12-25 08:13:16 · 4 answers · asked by Anonymous

Also, can I use my Soc. Sec. Medicare A & B & D medical cards in the UK, if I am a USA citizen?

2007-12-25 07:40:02 · 4 answers · asked by Joyce C 1

$9550.91 * 20% (federal tax which was automatically withheld) = $1910.18.

The amount of the check I received was $7,640.73

So what other dollar amount am I responsible for according to the IRS?

25% of the $7,640.73? I made over $70K in 2005.

2007-12-25 07:26:50 · 3 answers · asked by Anonymous

This will be my first year doing taxes, (I actually plan on going to H&R Block) but my question is if I file on January 1st, how early would I expect to get my money back? Also, if someone makes 6.60 an hour and started their job April 07 how much (estimate) would they be expected to get back at tax time?

2007-12-25 07:02:43 · 5 answers · asked by Little Nightmare 4

including the 10% penalty -- what happens to this 10%?

How is it classified on one's income tax return?

Is all 20% classified as federal income tax -- or just 10% And if so, what happens to the other 10% - does it just disappear into the govt's pocket? I'm pretty confused

2007-12-25 06:56:33 · 3 answers · asked by Anonymous

Do I then have to re-file a 1040X to correct the 1040X or will they adjust the amount accordingly?

Also, they have one item in the CP2000 for a pension withdrawl (I have 2 such items) but when I called my old company pension company, they don't have a record of that amount that the CP2000 claims -- but they have the other one.

What do I do? Do I fill out the 1040X according to the IRS data (I'm assuming that this is the smartest way to resolve this thing quickly) -- and if so, then I have to assume that 20% was taken out already from that amount since the other withdrawl (which I have the original 1099-R for) took out 20% for federal income tax and it is the pension comany's standard policy to do so.

When I do the math, it is clear as day that the IRS made a mistake.

THANKS!

2007-12-25 06:43:48 · 3 answers · asked by Anonymous

they would have to pay like 30% taxes on food when they already make nothing...it woudl benefit the wealthy, but the poor it would destroy.. right?

2007-12-25 06:41:50 · 6 answers · asked by akfortyseven 4

I have two W2 forms from different employers from different states. Which one do I file in my tax return. or do I file both

2007-12-25 06:17:33 · 5 answers · asked by . . 1

Does anyone have an idea?

I basically only have 1 item to change. I actually paid more taxes than the IRS is claiming and have the original 1099-R form my old pension plan.

If I send in a copy of the 1099-R along with the 1040X, will that expedite things more quickly with the IRS?

Also, I think I should wait to have this 1040X issue resolved first then file this year's taxes -- that would make things much simpler -- do you guys agree with this logic?

THANKS SO MUCH!

2007-12-25 05:39:06 · 5 answers · asked by Anonymous

If your home is foreclosed on and you had no escrow in your account and you owe property taxes on that house, can the IRS take your tax refund to pay for those taxes? I know they can for delinquent child support, back income taxes, but I'm not sure about this...thanks!

2007-12-25 05:20:38 · 3 answers · asked by MommieM750 2

Is it possible for someone to pay taxes now on money made in the future? Suppose you know you'll make $20,000 next year, can you pay taxes on that this year...meaning that you won't have to pay taxes on that money next year?

I don't see why not, that would be a great deal for the government as they are getting an advance on the taxes due to it.

2007-12-25 05:19:41 · 5 answers · asked by ? 2

I am paying for my health insurance myself not my employer. Means I am paying from my post tax income.

Is it possible to apply this amount as itemised deductible?

Also is there any option to pay this amount from my pre tax income?

2007-12-25 05:15:12 · 2 answers · asked by rabisankar 1

Approximately how much in taxes do you guys estimate I will owe?

2007-12-25 04:54:20 · 4 answers · asked by louisevuittonn 1

I used to work in LA before i moved to florida(same year). Should I contact my company in LA for my W2 form form or will just recieve my W2 form from florida company.

2007-12-25 04:47:21 · 9 answers · asked by . . 1

what would happen with social security?

2007-12-25 04:45:21 · 5 answers · asked by Anonymous

My wife and myself bought a home 24 years ago. We only lived in it for 4 years. We bougt another one to live in and had that one as a rental. We paid 25,0000 for it and sold it for 18,000. The home was completly paid for as you can see we took a big loss. we sold the home due to or divorce. All money was divided. I was told that all the money had to be claimed on my federal incolm tax. Will this be considered incolm even though we took a loss? How much of a % ? A nother note the rental propery was empty for 5 years.

2007-12-25 04:39:22 · 6 answers · asked by DR. Care 3

I was filing for unemployment for 2 weeks. My employer told me to have my pay stuff front of me. I applied for unemployment online. I wonder if i answer this question wrong that why it didn't do that. It asked if I am currently working full time I said yes...then are you working full time for this employer I said....I didn't know if it meant usually if I work full time or if the weeks i'm filing for i'm working full time...plz help

2007-12-25 04:03:57 · 2 answers · asked by Anonymous

Did we have the Alternative Minimum Tax last year or was it a new tax? For the first time ever I am to owe the federal Government taxes for 2007 instead of getting a refund. I am a single mom and a teacher and don't know why this year I am projected to owe close to $1500 if last year I got a refund. I had no major changes in income. I made a little more (only 4 grand) but they took out more which should've balanced that out. Don't know what's going on..................any insight?

2007-12-25 04:02:01 · 4 answers · asked by MO 4

then can they deduct that amount from my tax refund?

In other words, I agree to the IRS saying that I owe them X dollars and agree to pay Y dollars every month -- can the IRS then say that since I'm getting Z dollars from my tax refund check, that the IRS will instead just take the lump sum from the tax refund instead?

I hope I'm being clear. I'm so worried about this.

Thanks in advance.

2007-12-25 03:54:39 · 5 answers · asked by Anonymous

2007-12-25 01:24:35 · 2 answers · asked by hartwig961 1

2007-12-25 01:15:14 · 3 answers · asked by pnkumaresh 2

if me and my wife made 70, 000?

2007-12-24 20:42:30 · 3 answers · asked by Robots 4

Approximately 1980, my parents deeded our home to me with a life estate for themselves. Upon father's death, 2001 the house was mine. Valued at about 90k then, I sold it at 63k early this year/2007. The estate was not large enough to pay any taxes and I am a direct heir if that is relevant. Where does this fit in federal income taxes? A quick websearch was not assuring and I have never received IRS answers that matched. Thanks for any self-help direction you can provide. I do my own taxes.

2007-12-24 18:47:01 · 4 answers · asked by Joseph B 2

is there a way to see if someone has been claiming me for taxes?

2007-12-24 18:29:06 · 4 answers · asked by babyphat.1984 2