United States - December 2007

2007-12-18 23:59:58 · 8 answers · asked by MizTeri47 2

Can we contribute to a deductible IRA and if so how much? So far we max out our contributions to Roth IRA's every year. Also, my wife has about $8000 per year put into a 401k plan by her employer.

2007-12-18 18:17:37 · 3 answers · asked by Meadowlark 2

it is a tax service company, what was your experience like? I have 3 years experience doing taxes but i would like to work for another company, right now i work for a small office and they do not pay too good.

2007-12-18 18:04:25 · 2 answers · asked by Anonymous

I own my own company and pay myself payroll. My last 2007 payroll w2 payment is going to be relatively large (like a bonus), and the marginal rate it falls in based off the wages paid to date is 28%.

The girl handling my account said that the federal withholding would come out to under 2% since it's being taxed at the "annual rate" since the funds have accumulated over the year. This doesn't seem to make any logical sense to me.

Could I get a third party opinion?

Thanks.

2007-12-18 17:52:12 · 4 answers · asked by DJP 2

I am finishing up my preliminary taxes for 2007. My wife has been unemployed most of the year, and thus our AGI is about half of what it was in 2006. In addition, our itemized deductions are extremely high relative to our income as a result. Our itemized deductions simply consist of our mortgage interest, property taxes and a home equity of line of credit. This should not trigger an audit, should it? Regardless of our employment status we have to pay the taxes & interest.

One can easily look at the return and see my wife was out of work for most of the year (unemployment compensation, then a job which pays about 40% of what she made the last year she worked.).

Thanks in advance for your advice.

2007-12-18 17:41:00 · 4 answers · asked by Guyame 1

as long as you don't file, you haven't broken any laws. once you file, you enter into an agreement to pay. the US supreme court ruled in 1991 that our labor was our personal property and we exchange it equally in exchange for pay. the 16th amendment recquires only those who "profit or gains" to be taxed. the vast majority of americans aren't recquire to pay income taxes. they outlawed slavery in 1864.

this is why the irs threaten so hard and then simply settle out of court. THEY DON'T WANT IT TO GO TO COURT because they will lose in court. the supreme court has already set precedence.

2007-12-18 16:11:52 · 18 answers · asked by cool_hand_luke613 2

They are retired and receiving medicare/medicaid benefits. Will claiming them as dependents affect their benefits in any way, such as reduction in benefits, higher out-of-pocket expenses, etc.

2007-12-18 15:42:49 · 4 answers · asked by Anonymous

where is it written in law that we have to pay a federal income tax? and what does it state?

2007-12-18 15:19:34 · 8 answers · asked by cool_hand_luke613 2

I wanna know how to calculate what my triple time pay is?

2007-12-18 15:01:40 · 3 answers · asked by mike d 1

I was thinking of working for them while in grad school. I know it probably varies according to the locale, but how much do preparers make at places like these?

2007-12-18 13:42:24 · 8 answers · asked by Elizabeth S 6

2007-12-18 12:21:51 · 1 answers · asked by Anonymous

Ok, I was wondering is a person(s) under 18, were working, would it count as household income? Because I want to get a job, but my Mom said that if I do my insurance gets cut off. I brought this up in school and several students and a teacher said it doesn't.

I just need to know.

2007-12-18 12:20:48 · 2 answers · asked by Anonymous

I have been seperated from my husband since Jun. I was just wondering when I do my taxes if we file seperately and if so what way do I file? I have a son. If I file by myself do I file single, head of household, or do we have to file married filing seperately. Any help will be greatly appreciated, and Happy Holidays to all.

2007-12-18 11:58:24 · 4 answers · asked by crysmomof1 1

2007-12-18 11:56:46 · 1 answers · asked by rick g 1

here is a list of taxes california took out of my checks for year 2007

Social Security Tax ( i know i don't get that back til i'm 65)
Medicare tax ( i know i dont' get that back)
CA SUI/SDI TAX
Federal Income Tax
CA State Income Tax

2007-12-18 11:48:44 · 7 answers · asked by Anonymous

Do I have to pay for the last year or only from when I close.

2007-12-18 11:44:57 · 4 answers · asked by joleen j 3

I am based in California. The service/clients will be performed & located in various states throughout the US. I will be paid via 1099 via another company based out of Georgia. In effect I am operating as an outside sales company for the Georgia based production firm. Once the service is completed the GA company will mail/wire me a check and 1099 me. What company is best to form an LLC in? California, Nevada, Delaware? If I form an LLC in NV or Delaware will I have to file something to do business in the other states? THANKS!!!!!

2007-12-18 11:04:10 · 2 answers · asked by Anonymous

How is it different from an income tax ?

2007-12-18 10:46:05 · 5 answers · asked by IRunWithScissors 3

2007-12-18 10:21:20 · 4 answers · asked by Samid O 1

Im 18 and only made 3500 for 3 months do i fill iwas told that i would not get anything back?

2007-12-18 09:50:46 · 9 answers · asked by queenofpop2003 1

Do I need a receipt (for when I actually purchased) every article of clothing ?

2007-12-18 09:19:34 · 12 answers · asked by GYJ-Dude 1

N 2006 I MAKE SOME PROFIT I$ 1500.00 IN STOCK DO IHAVE TO SHOW THAT MONEY IN MY TAX RETURN AND HOW MUCH TAX IHVE TO PAY IRS.

2007-12-18 09:15:13 · 7 answers · asked by dhca 1

I just watched Zeitgeistmovie.com. And some former IRS agents said that they could not find anywhere in the constitution or any place else where it was law that we pay Income Taxes. These two individuals say they haven't paid taxes since 1999. I thought that you went to jail if you didn't pay taxes? Or they would come into your home and take things that you own. Call me stupid but I thought this was how it was.

2007-12-18 09:11:10 · 11 answers · asked by summer 3

2007-12-18 09:01:43 · 3 answers · asked by Mary D 1

2007-12-18 08:50:04 · 5 answers · asked by catrina h 1

I would like to get a fantastic (corporate) tax law book for my friend. Any recommendations?

2007-12-18 08:13:06 · 2 answers · asked by julie744527 4

I am a college student in Louisiana, and I was wanting to know what educational expenses I can write off on my taxes. I bought a $1500 laptop this year, and I have proof that I am required to have it for my computer science major. Also, I have receipts from textbooks I have purchased this year that total up to about $500. Can I write these things off on my taxes?

2007-12-18 08:12:56 · 3 answers · asked by ka 2

can any business owner average out their income over a 3 year period of time?

2007-12-18 07:54:16 · 3 answers · asked by pigment 1

I don't want to wait around for my employer to get mine to me.

2007-12-18 07:10:43 · 3 answers · asked by Chachi 1

I was told by a tax professional that if i did not have at least $7700 in charitable donations it did not pay for to claim it? That seems very steep. Does anyone know the reason for this? I make approximately 43,000.

2007-12-18 06:51:05 · 3 answers · asked by Christian girl 1