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1040a Tax Form

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Olga Said:

What is the IRS 1040 and 1040A form?

We Answered:

If you file a tax return, you filed either a 1040EZ, 1040A or 1040. The number is up in the top corner of the main form.

Samuel Said:

What happens if you forget to send in your 1040A Tax form?

We Answered:

The link below is from the official IRS website. It explains the procedures needed if you are filing late, which in this case, you technically are.

Good luck.

Kay Said:

Using tax form 1040A Federal and Turbotax, where do you put in job search expenses?

We Answered:

You can deduct them only if you file Form 1040.
You cannot deduct them if you file Form 1040A.

Tracy Said:

where do i get the tax rebatye paper form at the 1040a formand how long do i have to file it?

We Answered:

If you want a 1040A form click on this
http://www.unclefed.com/IRS-Forms/2007/f…
If you want to file your taxes. The Federal Tax rebate will depend on your taxes paid in 2007 and you don't have an other form.

Dwight Said:

Can I use the 1040A tax form and still apply the local sales tax deduction?

We Answered:

No you would have to use the 1040 and the Schedule A to claim the State and Local Sales tax deduction and Charitable Contribution deduction

    1040a Tax Forms

    Clarence Said:My State tax was deducted but federal tax was not deduct, So how can I pay it now? If any forms-give info pls.We Answered:Fill out a form 1040EZ if you qualify to use it, or a form 1040A, unless you have income that requires a 1040. You will calculate your tax on the tax return, and if you owe anything, will send it in with your return. If you efile you'll get a voucher with your identifying info printed on it to send with your payment.Ricky Said:Can I use 1040A to claim the First Time Home Buyer...

    1040ez Tax Filing

    Tony Said:Can I add my Medicare and S.S. tax withheld along with the Federal Income tax withheld when filing my 1040EZ?We Answered:No. Social Security and Medicare are completely separate and unrelated taxes.Vernon Said:I'm filing my own taxes (for the 1st time). I filled out a 1040EZ but don't see where my state income tax (CA)We Answered:You file separately with the state, filing a form 540. In your case, you can probably do the shorter 540A; I don't recall if there's a 540EZ.Tyrone Said:How do I add previous estimated quarterly payments (1040ez) while filing taxes via Turbo Tax Home &...

    1040ez Tax Form

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    1040ez Tax Forms

    Gary Said:Tax forms, can I switch using 1040A to 1040EZ?We Answered:if your income is less than 27000 and not more than 42799 then yes use the EZ and take the basic deductions get back all your moneys paid into taxman. Most taxpayers dont pay any taxes if they live below the minimum taxable income Singles can make as much as 27000 before you even ever owe taxs. cause its very difficult to live and pay rent and be able to eat and pay bils if you make less than 27000 If you make more but less than 42000 your pretty safe you...

    1040ez Tax Form Booklet

    Laurie Said:Taxes help...1040ez form!?We Answered:Go to the linksVictoria Said:What is a tax return/refund?We Answered:If you go online to a site like H & R Block, you can efile a return and they will prompt you what to do every step of the way. It's so easy and a lot of times there service is free if you make under a certain amount of $$. As you input info, they fill in the boxes for you and figure out how much of a refund you will get back. It's worth a try since you are so unfamiliar with it all and...

    1040ez Tax Form Online

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    1040ez Tax Return Form

    Roger Said:What form do I need to file my Michigan state tax return?We Answered:The 1040EZ is for the federal tax return. You will need to use Form MI-1040 (link below) for your state return.Philip Said:How do i find out what tax return form i filed for in the year of 2007? I need to know for my fasfa form.We Answered:Most likely it was a 1040EZ. That's what most students fill out, unless they're married or have an unusually complicated financial situation. Knowing which form it was isn't enough for the FAFSA, though. You're going to have to enter some of the...

    1040ez Tax Table Form

    Violet Said:What are tax returns, how much do we receive back?We Answered:basically you have: INCOME(all sources) - STANDARD DEDUCTION( based on filing status) - PERSOANL EXMPTION( # of poeple claiming...you+kids ect..) = YOUR TAXABLE INCOME ( look this up in tax table) this ia tax owed on income for current year NEXT SEE WHAT...

    1040 Ez Tax Form

    Neil Said:How much money do you have to make to file a 1040-EZ tax form?We Answered:You only HAVE TO MAKE 51cents to file one. You are only required to file if you earned over the standard deduction plus your exemption. This year that is $8950 or for dependents $5450. $400 for self employed.Jenny Said:1040 EZ and W-9 or W-8 form?We Answered:If you had made over $600 from the magazine company, they'd have sent you a form called a 1099-misc showing what they paid you. Since you made less than that, they don't send the form. But you are...

    1040 Tax Calculator

    Dana Said:Tax calculator says I will have to pay $1000 in taxes but I deduct $500 from 1040?We Answered:The one-half deduction for self-employment tax is a "deduction" and not a "credit" so the actual tax effect will be much lower. For example, if you are in the 15% bracket, a $500 deduction will only reduce your taxes by $75 ($500 x 15%). EIC is calculated on Self-Employment Income and AGI and you get the lower amount. The $500 deduction does reduce your AGI.Chris Said:Where on the 1040 tax form do I have to claim the economic stimulus payment?We Answered:Recovery...

    1040 Tax Filing

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    1040 Tax Forms

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    1040 Tax Help

    Frances Said:I'm trying to find a law that requires my friend to pay an income tax & file a 1040... Could somebody help?We Answered:You can read the actual laws passed by Congress in the U.S. Statutes at Large. For the most part, these are not available online. However, they can be read in most law libraries and most Federal Depository Libraries (FDL). You can find an FDL in your state at http://catalog.gpo.gov/fdlpdir/FDLPdir.j… The current tax laws get the basic structure from the Tax Reform Act of 1986 which can be found in Volume 100 starting on page 2085. ...

    1040 Tax Preparation

    Brian Said:How do I enter half the gain for the sale of a house on my 1040 tax return?We Answered:If the divorce decree assigns half of the gain to your ex-husband, then you don't need to report anything on your 1040. Your half of the total gain is $190,000, which is fully covered by your $250,000 exclusion (assuming that you qualify for it). Regarding the 1099-S: the big question is whether it is in your name, your ex-husband's name, or both. If it is in your ex-husband's name, you don't need to do anything, but your ex-husband might...

    1096 Tax Form

    Anne Said:1096 Tax Form from IRS? ?We Answered:A 1096 is a cover sheet for 1099 form. The typical taxpayer doesn't fill one out unless they were a nominee, say co-owner of a joing bank account.Olga Said:what is a 1096 and a 1099 tax form for ?We Answered:If you pay your workers as independent contractors rather than as employees, you need to issue 1099s to any worker you paid $600 or more. When you file your 1099s which are due by January 31 just like W2s, you file the 1096 as a totals page. Attach the 1096 to the originals...

    1099 Misc Tax Form

    Franklin Said:Filing 1099-MISC Tax Form?We Answered:Oh my. I do hope you made quarterly tax payments for both Income and FICA last year. You're going to need to do the 1040-A and attach Schedule C for both Self-Employment Income (reported via a 1099 in this case but if you had other SEI you'll need to include that as well) and your Self-Employment Expenses. You'll need back-up support for your expenses but you'll be able to deduct all sorts of things that you needed to spend in order to do your job to include milage on your car. For you I'm going...

    1099 Tax Filing

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    1099 Tax Forms

    Kathleen Said:I am opening a small business by myself. What income Tax Forms will I have to file? Is it a W2 and a 1099?We Answered:It depends on the structure of the business. I would recommend that you do not open it as a sole proprietor. I would go with an s-corporation or LLC. S-corp is cheaper and you don't need a lawyer. No matter which way you go, you would never file a 1099 for yourself. W2's are only filed if you have payroll and deduct employment taxes. If that's the case, you...

    2002 Tax Filing

    Vincent Said:Can you get one-half of tax refund from the tax years of 2001 and 2002 from ex-spouse?We Answered:Yes, the person can try to recover those funds, but not from the IRS. This is not an IRS issue, it's an issue between the two parties. The injured party (your coworker) should look at going after the ex for fraud/theft/misrepresentation. The options depend largely on the state he/she lives in, but he/she could ultimately file suit to try and recover the funds.Lauren Said:What is the best way to file back taxes and how do I get copies of...

    2002 Tax Form

    Kathy Said:I need find a 2002 form of federal income tax?We Answered:Go to IRS.gov and you can get most of the forms from past years. I just printed some from 2002 a couple of weeks ago!Tonya Said:Has anyone claimed the childrens tax allowance refund for the year 2002/2003 where by the tax people did,nt?We Answered:The Inland Revenue (at the time, now HMRC) wasn't obliged to individually notify people of this, although notes were sent out with forms P2 (notices of coding), and it was advertised in the press. The allowance had to be claimed, the Revenue didn't have records of...

    2002 Tax Preparation

    Kim Said:Who are some Politicians who tried to come off all pure, but then a BIG ethical lapse occured and exposed them?We Answered:Bill Clinton - Impeached by the House of Representatives over allegations of perjury and obstruction of justice, but acquitted by the Senate. Scandals include Whitewater - Travelgate Gennifer Flowersgate - Filegate - Vince Fostergate - Whitewater Billing Recordsgate - Paula Jonesgate- Lincoln Bedroomgate - Donations from Convicted Drug and Weapons Dealersgate - Lippogate - Chinagate - The Lewinsky Affair - Perjury and Jobs for Lewinskygate - Kathleen Willeygate - Web Hubbell Prison Phone Callgate - Selling Military Technology...

    2003 1040ez Tax Form

    Judy Said:Can I get a telephone tax refund for each phone line that is in our house?We Answered:Taxpayers can figure their refund by using their telephone bills to calculate how much they paid in eligible excise tax between Feb. 28, 2003 and Aug. 1, 2006. Or, taxpayers can claim a standard amount refund based on the number of personal exemptions they've paid ($30 for one exemption, $40 for two, $50 for three and $60 for four or more, according to CCH). If you claim the actual amount of tax you paid, you'll need to file a Form 8913. Otherwise, you can...

    2003 Tax Filing

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    2003 Tax Form

    Elaine Said:How do I get copies of my W-2 to file PA State tax for 2003 & 2002 if I can't contact employer?We Answered:The "Transcript" does not include a copy of the W-2. The full copy does. That is, if you filed your Federal taxes in 2003 & 2002. Use form 4506, not 4506-T. http://www.irs.gov/pub/irs-pdf/f4506.pdfDwayne Said:How can I obtain a copy of w-2 tax form from 2003 my employer said they don't have it.?We Answered:Call the IRS at 1-800-829-1040, they can provide you with transcripts of your W2 information and have it mailed to you in 7 to 10 days, or by...

    2003 Tax Forms

    Mario Said:I need forms we filed with the IRS from 2003-2005. How can I get them fast?We Answered:You can go to http://www.irs.gov or you can look in your phone book under the government section (which is usually blue) and call your local IRS office. There you can request your previously filed forms etc. There is a slight charge as well, though I don't remember what it is now--I know it's not over $50 though. They will tell you that it will take 6-8 weeks to get these sent back to you, but when I had to do...

    2003 Tax Preparation

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    2003 Tax Preparation Software

    Lydia Said:any freefiling sites r there?We Answered:Free File Home - Your Link to Free Federal Online Filing Free File - Take the free way The Free File program is a free federal tax preparation and electronic filing program for eligible taxpayers developed through a partnership between the Internal Revenue Service (IRS) and the Free File Alliance LLC, a group of private sector tax software companies. Since Free File’s debut in 2003, more than 15.4 million returns have been prepared and e-filed through the program. Free File allows taxpayers with an Adjusted Gross Income (AGI) of $52,000 or less in 2006...

    2004 1040ez Tax Form

    Arthur Said:Lifetime Education Tax Credit?We Answered:You can file a form 1040X depending on the circumstances. Unfortunately 1040X is not accepted electronically, so you have to fill it up and mail it to the address in your tax jurisdiction. Currently you can go back four years that includes 2003. It is a very simple form to fill, but make sure you have all the previous 1040Ez that you used because you will be required to copy that information into the the 1040X, and then fill up the correct information as it should have been, in this case the Lifetime Education credit. You...

    2004 Tax Filing

    Lisa Said:how can i find a tax program for 2004 that will easily help me complete my past taxes?We Answered:Try this website http://www.24hourtaxservices.com/prior_y… You will probably have penalties for filing late. You will also need to file state returns for any years you didn't file before. Best yet, you should check with a tax professional. An CPA will be able to help you the most. If you can afford to spend a little more meet with someone in person.Marlene Said:How do I go about filing a 2004 tax return without W2's or 1099?We Answered:Accuverify.com will help you obtain your...

    2004 Tax Form

    Jared Said:form 16 i t return is denied by the employer for year 2004.2005?We Answered:An employer is supposed to issue the TDS certificate (ie Form 16) compulsorily in case tax has been recovered from the salary of the employee. Also, if the salary earned with the employer is in excess of Rs 50,000 but below Rs 150,000, the employer may issue Form 16AA. If you are referring to Form 16 for the financial year 2004�'05, the employer has time up to April 30 (ie Form 16 should be issued within 30 days of the end of financial year). You could put...

    2004 Tax Forms

    Calvin Said:I tried to find out what the taxes would on the alabama 2004 tax return. My adjusted income is 9700 dollars?We Answered:Hello, sammie! The tax tables are on Pages 25-30 of the 2004 Form 40 instructions (linked below). Like the previous answer states, your AGI should be lowered by your deductions, so make sure you factor that in before looking up your tax.Eileen Said:Tuition unclaimed on 2004 and 2005 income tax-how do i do it?We Answered:It is possible to amend those returns, adding Form 8863 to those returns. Since you used the Hope Credit in 2006,...

    2004 Tax Preparation

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    2004 Tax Preparation Software

    Linda Said:i am a first class post-graduate in commerce ( 2004-06)?We Answered:PG in Commerce means you are able to handle accounts independent with or with out the aid of an accounting software. If you are able to fulfil this condition you will flourish sky high in accounting practise especially in India as well as foreign countries. Now a days, chances to accountants are most wanted job. Find out ........ Yes, you can find out many. Try Hard and be sure an independent accounting work up to a level of final accounts with adjustments of Banking companies, Trading Companies and Non trading Companies...

    2005 1040ez Tax Form

    Ruben Said:Where can I print the 2005 tax form?We Answered:1040EZ, 1040A and 1040 http://www.irs.gov/pub/irs-prior/f1040ez… http://www.irs.gov/pub/irs-prior/i1040ez… -http://www.irs.gov/pub/irs-prior/f1040a-… ...http://www.irs.gov/pub/irs-prior/i1040a-… http://www.irs.gov/pub/irs-prior/f1040--… http://www.irs.gov/pub/irs-prior/f1040--… From www.irs.govAmy Said:Can I still file taxes for 2005? What form do i use? Can i do it online? Is there a Penalty?We Answered:Of course you can file 2005 taxes but you will have to file them seperately from your 2006.. You will need to use the 2005 1040/1040A/1040EZ form. If you were due a refund, then there should be no penalty. The IRS penalizes you if you owe them money but they don't give out extra if they owe you money. Go to...

    2005 Gift Tax

    Maureen Said:My wife was given gift of real estate (value $250K)in 1991 by her now-deceased mother. How do I calculate tax?We Answered:There is not enough information given here to answer this question. Some questions you need answered before you can get an answer to your question: 1. Was gift tax paid when the gift was made? 2. Was this property subject to be reclaimed into the estate? (Dates and other information need to address this) 3. What was the value of the property when it was originally gifted? 4. If subject to be reclaimed into the estate, what was the...

    2005 Tax Filing

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    2005 Tax Filing Deadline

    Sarah Said:Can I request tax refunds from 2004 and 2005 if I didn't file?We Answered:It's not too late for those years. The deadline for refunds from 2003 runs out 4/15/07. File as soon as possible, and you'll still get your refund, and there won't be a penalty for late filing.Sarah Said:In India, I did not file my tax returns by the deadline last year. Can I file it now? Is there any penalty?We Answered:No you can always pay it during this financial year along with this years taxes. You will have to pay a penalty which is not...

    2005 Tax Forms

    Adrian Said:I failed to claim much student loan interest on my tax forms from 1999-2005. Can I claim the interest in 2006?We Answered:You can't claim it in a different year than the one in which it was paid or accrued, but you can file amended returns for those prior years to claim a refund of the tax that the deduction would have saved. However, an amended return must generally be filed within 3 years of the due date of the original return, which means that you may only be able to claim a refund for the interest attributable to...

    2005 Tax Preparation

    Marian Said:Alternative Minimum Tax?We Answered:AMT form starts by taking the income from the 1040 from the line immediately after the deduction for itemized deductions. -Interest deductions on vacation homes Added *back* to income. -Charitable contributions of appreciated securities Charity donations are generally left alone. You'll have to do your own research about whether there is a different AMT rule on appreciated securities. (This is possible a trick question. Appreciated assets were a preference item [added back to income] on the form for years--you can see on the 1997 form, but not the 1998...

    2005 Tax Preparation Software

    Daisy Said:property taxes?We Answered:I think the answer is Yes. I think the date of payment is considered and not exactly for which year they were paid, If you use an online tax prep software (some free), they will ask you questions and guide you through this. Be sure to read and understand the guided questions. Check http://www.redtagdeals.com/tax_preparati… for tax prep services with some special offers/dealsDarryl Said:How to file my 2008 taxes?We Answered:You can still file your late tax return, I was told at my school that the IRS has the forms online at http://www.irs.gov/formspubs/ you can complete them yourself. And the...

    2006 1040ez Tax Form

    Jesse Said:Will underwriter deny FHA mortgage loan application based on accidental wrong tax form filed in 2006?We Answered:I doubt an underwriter would deny you for this. An amended return may have to be filed, but I don't even think that will happen. I wouldn't worry about something that hasn't occurred yet. Donna Said:What form do I use to do my 2006 taxes, this year?We Answered:You would use the tax forms for 2006. They are available for reprint at the IRS site below. Select the apprpriate form; 1040, 1040A or 1040EZ and instructions. The 1040 forms start about 20-30 lines down...

    2006 Gift Tax

    Elizabeth Said:How to avoid the estate/gift tax?We Answered:For 2006, one person can give another person $12000 without gift tax. That means your parents can give you $24000 without any gift tax. You don't have to pay income tax on the gift. Zhicheng Lai Enrolled AgentJerome Said:My son died in 2006 & left $100k estate. I gave 1/2 to my son & his wife. Can I claim that as a gift?We Answered:No, you cannot deduct the gift for income tax purposes. To the contrary, I'm guessing that you probably did not file the required Gift Tax Form (IRS 709) return and that you...

    2006 Irs Tax Forms

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    2006 Tax Form

    Warren Said:Should I wait till January 1st to form a LLC in order to avoid 2006 tax filing?We Answered:Your friend is right. If your CA LLC exists for less than 15 days (ie: Starts on Dec 16) and has no income to report, then you don't need to file a return for that year. So, you can save the $800 LLC fee just to have your LLC set up after Dec 16. Usually LLCs are using calendar year to match with individual's tax year for reporting purposes (K-1 flow-thru). Under a few limited circumstances would an LLC be allowed to use...

    2006 Tax Forms

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    2006 Tax Law Changes

    Antonio Said:If I failed to take a lifetime learning credit in 2006, can I carry it over to this year's tax return?We Answered:You can file an amended return for 2006 to claim the credit - however, if you didn't work in that year you likely didn't have a tax liability, and since education credits are not refundable you'll receive no benefit. I'm assuming you couldn't be claimed as a dependent on someone else's tax return, because my answer changes if you could.Alvin Said:Is there any tax issues with my mother-in-law selling us a 2006 Jeep Liberty for $1?We Answered:There is. This...

    2006 Tax Preparation

    Karen Said:Tax preparation services comparison?We Answered:I worked for JH for several years. If you are itemizing with 2 business properties, moving expenses, and charitable deductions, with one State (because TX doesn't have State Income tax), without any bank products, prep only; about 220.00. If you gripe enough, you can get a discount, and if you go on-line they have down-loadable coupons, and accept competitors coupons. Also, you can check with National Association of Tax Professionals NATP, they will give referrals of members in your area-some of these pros work for places like Block or JH. good luck & blessStacey Said:When can i...

    2007 Tax Forms

    Karen Said:How to file amended tax forms for 2007.?We Answered:If your amended return reduces your balance due any penalties and interest will be reduced accordingly except for the estimated tax penalty. It is though the reduction is the same a payment backdated to the due date of the return.Elizabeth Said:J-1 Visa for 9 months, then H-1Visa in 2007. What forms should I use to file my tax returns?We Answered:How many years have you been in the US on the J-1 visa? Without that, can't tell if you are resident or non-resident. While your school didn't withhold for...

    941 Tax Form

    Angela Said:Do I have to file a Form 941 if my business has no income and no employees?We Answered:Form 941 is for reporting employment taxes. If IRS has sent you a blank one send it back with zeros everywhere and marked final so they don't keep sending them. If you do hire an employee, you will have to start filing this form.Carlos Said:If I have household employees & have filed Form 941 & paid payroll taxes how do I report this on my tax returnWe Answered:The purpose of filing Schedule H with your tax return is to pay in...

    After Tax Income Calculator

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    Annual Gift Tax

    Andrew Said:How much land value can be deeded to me before I have to pay a gift tax?We Answered:Receiving a gift is NEVER taxable. Even if it's a million dollars. The GIVER will have to pay the tax on it. It's $13,000 per individual. So they could give you and your wife each $13,000 before having to file a gift tax return.Robin Said:How much tax do I owe on a monetary gift from my parents?We Answered:Each parent can give you 12,000 per year tax free. The form 709 is what your parents need to complete to report the...

    Annual Gift Tax Exclusion

    Shirley Said:What was the annual gift tax exclusion for 2006?We Answered:$12,000Irma Said:Can I gift prop. to children in increments (under annual exclusion amount) and not fill out gift tax form?We Answered:You need to see an attorney experienced in such matters. Yahoo is not the place for advice on something like this....

    Annual Gift Tax Exemption

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    Average Tax Preparation Fee

    Perry Said:Why is it bad to get an instant refund the same year as filing banruptcy?We Answered:I don't believe the sign was referring only to bankruptcy clients, instant refunds in general are a bad idea: The lure of that type of loan is that a taxpayer gets refund money right away and repays the debt when the IRS check arrives. Two facts are left out of the picture: first, the loans carry annual interest rates as high as 700%, and, second, you don't have to wait very long for the government check to come. According to a report by the Neighborhood...

    Back Tax Filing

    Ron Said:What percentage should I get back for a vermont non-resident income tax filing?We Answered:Since you worked in VT, they are entitled to tax the income you earned there. And since you lived in MA, they are entitled to tax income earned anywhere. On your MA Form 1 return, you claim a credit for the VT taxes on line 12 of Schedule Z and transfer that amount to line 29 on Form 1. The amount of any refund is based on two things -- your tax liability and how much tax was withheld.Tracey Said:tax filing status when spouse owes back child...

    Bankruptcy Tax Lawyer

    Kyle Said:What should I do about my 2008 tax return while I'm filing for bankruptcy?We Answered:Your tax refund will be handed over to the trustee of the bankruptcy.. Even if you file and manage to get it before, it technically belongs to the estate. Paying back your Mom will be considered showing unfair preference to her as a lender. Did you borrow the money from your Mom to pay the lawyer? Is there any way you can create a paper trail showing you used the money to pay your lawyer rather then giving the money to your mom? The trustee...

    Best Tax Preparation Software

    Julian Said:What's the best tax preparation software?We Answered:Turbo Tax guarantees legal support should you be audited. Other than that they are all about the same, so go Turbo.Linda Said:What is the best/easiest software to use for tax preparation if you are a commodities trader?We Answered:I think you can still use Turbo Tax. Just create an excel spreadsheet with the usual information (purch date, cost, sales date, sales proceeds, short term capital gain (loss), and long term capital gain (loss) and name the spreadsheet "Attachment A." Subtotal your short term transactions and long term transactions separately, then a final...

    Canadian Tax Filing

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    Canadian Tax Form

    Duane Said:What form to I fill out for taxes if I paid a Canadian contractor for web design work?We Answered:Unless the Canadian worked in the US, you don't.Shawn Said:can a canadian citizen form US LLC in US and how he/she pay tax on income from this US LLC?We Answered:You will have to file your taxes in Canada as business income earned translated at the US dollar exchange rate provided you do your business in US dollars. The Canadian government requires this. Don't forget any potential capital gains are taken in @ 50% over here.Joseph Said:Filing Canadian Tax Return...

    Canadian Tax Forms

    Pauline Said:If a Canadian is unemployed for a year, does he/she still have to fill out income tax forms?We Answered:Hi Mike, I am in Canada, Ontario to be exact, and as a tax consultant for the past 27 years, and a former CRA employee (on contract), I can give you some very good reasons for filing your 2006 income tax return. If you were in receipt of EI for all of 2006, then rest assured that EI would have withheld the correct taxes at source, and there would technically be no refund as a result of overpayment of taxes. However, if you...

    Canadian Tax Law

    Jeanette Said:Canadian income tax question. Amending a return for a previous year single to common law?We Answered:You are both considered separate people, even if you are common-law or married. Any debt or credit balance on the tax account after the assessments are done will belong to you individually; his credit balance won't be applied to your debt, if you have one, and vice versa. If he has credits on his tax account and the student loans people are after him the credits will probably be transferred to his student loan debt.Carla Said:Which country do I follow for the...

    Canadian Tax Laws

    Clifton Said:Are Canadian Oil Trust good investments? Will the new tax laws in Canada cut the pay outs.?We Answered:CANROYS are great! I first invested in PGH in 2003. Bought 4000 shares at $10. Held for 1 year got 15% in divs, sold the stock for $16.50/share & bought a new Chevy Trailblazer with the $30,000 capital gains and dividend profit. Bought back in recently at $8/share for the divs & future gains. CANROYS may take a hit just before the Canadian tax law takes effect. But it will be short lived dip in stock price bbecause the stocks took a 20% hit...

    Canadian Tax Lawyer

    Eileen Said:Can a Canadian lawyer access U S income tax records on an individual?We Answered:It would require a U.S. court order.Oscar Said:Can you exchange shares of a Canadian corporation for a US corporation on a tax free basis?We Answered:If there is no Capital gain involved (if the cost of the US shares is the same as the cost for the Canadian shares). Private Canadian corporations have some rollover rules that can apply, but not when you are rolling over to a non-canadian controlled corporation (so it wouldn't apply in the situation you describe). International taxation and corporate reorganizations are both complex areas...

    Canadian Tax Preparation

    Tanya Said:Where is a good place to do US and Canadian Tax Return (In Kitchener)?We Answered:Last year I used fairtaxcanada and I was pleased with their services. I would recommend them to anyone! They prepare personal and small business income tax returns for Canada and the United States. They have been around for more than 10 years, so they know taxes pretty well. Here is their services from their website: - General Canadian and US tax returns Immigrants and Emigrants to and from Canada - Canadians working in the US or having US source income and/or property - Canadian...

    Car Gift Tax

    Larry Said:My parents are giving me a car as a gift in NJ. Does sales tax have to be paid even though it is a gift?We Answered:NJ exempts you from paying the sales tax when the vehicle is a bona-fide gift.Caroline Said:How do I import Spanish registered car to the UK? Car is a gift though!! so do I need to pay any Spanish Tax?We Answered:Here's the official bumph about importing it into this country :http://www.direct.gov.uk/en/Motoring/Buy… Don't know about the Spanish side, that needs investigating locally. I do know that if you're exporting a car from this country you need...

    Cash Gift Tax

    Tracy Said:What is the tax (state & fed) for a gift cash of $1million for the recipient in Oregon?We Answered:No gift taxes due. First the giver is allowed to deduct 12,000 per donee per year. Then the giver is allowed a 1 million deduction for the excess gifts. The giver will have to file a Form 709 to prove all of this. The donees pay nothing and file nothing.Milton Said:What are the tax implications if i gift cash?We Answered:No tax implications for either person on a gift of $4000. For gifts over $13,000 total for...

    Ca Tax Law

    Jeanette Said:CA property tax law for people over 55 . Question.?We Answered:I am not an expert in this field, but let me get the discussion on track. This is not Prop 13, it is Prop 60 and Prop 90. Under either one, the availability of the law depends upon the sale of the old residence (not the purchase of the new residence) being made after you (or your spouse) is 55. The new residence must be of equal or lesser value (which allows for a slight increase if the purchase is delayed), and the purchase must be...

    Ca Tax Laws

    Dawn Said:How are labor laws in CA different from KS?We Answered:Illegal labor is illegal labor no matter what state you are in. If they're paying employees under the table, not reporting income, or paying them a fair wage or benefits -- then they're breaking the law. These links should help: California - Employment - Laws & Regulations http://www.ca.gov/Employment/LawsAndRegs… Kansas - Workplace Laws and Regulations http://www.dol.ks.gov/es/html/laws_RES.h… I live in CA and I feel that illegal labor hurts everyone. Please report them and help stop businesses who are profiting from illegal labor. Don't go after the illegals... go after the businesses who hire them.Benjamin Said:i want to...

    Ca Tax Preparation

    Clarence Said:How much does Liberty Tax pay their Tax Preparers in CA.?We Answered:I am in NC, so the hourly wage would be different as cost of living in CA is different than NC. In addition to an hourly wages, there is typically a bonus tied to tax preparation and staying through the end of the tax season. Other factors come into play, like if you've had tax experience. I've never had a tax preparer complain to me that we do not pay enough. It is fair wage and in alignment with the competition. If you are in...

    Child Credit Tax Law

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    Child Tax Credit Law

    Carl Said:Will I get the child tax credit for my 4 month old son?We Answered:Yes you will STill get the child tax credit if you have enough income to need it. He is considered to have lived with you for the whole year. You may also qualify for the earned income credit. Check out the links below I think they may be of help to you Christine EA Master Tax Adviser Check out my profile This advice was prepared based on our understanding of the tax law in effect at the time it was written as sit applies to the...

    Church Tax Law

    Janice Said:Should Obama's church lose its tax exempt status from the IRS?We Answered:the law is if a church or the minister of that church activly engages in the endorsement of a candidate that church is subject to the lose of its tax exemtion and can be backed taxed. So why is the Govt wasting time getting his church ? Oh , it will be racistTracey Said:discontinued paying church tax in austria and now want to marry in church.?We Answered:I was catholic and when my brother wanted to re-marry after his divorce, the high priest called my mom and was over...

    Church Tax Laws

    Glen Said:What Do You Think Of Obama's Church Violating Tax Laws?We Answered:They can do whatever they want because they're black. If the IRS tried to take away their tax exempt status why that would be racist of them, wouldn't it? Even if it was justifiable (And I'd say considering the circumstances it is) they couldn't do anything about it unless they want a whole lot of problems haunting them for the next 100 years. I still hear them whining about Hurricane Katrina and that happened years ago. They know damn well they can get away with it that's why they do it and the...

    City Tax Forms

    Darren Said:What do I do if I live in Los Angeles and work in Beverly Hills/West Hollywood for city tax on my tax forms?We Answered:There is no local tax for CA wages.Antonio Said:Do i have to pay a city business tax if i did not sell any hot dogs in the city ??We Answered:Just fill out the form and state that you had zero sales in the City of Stockton. These forms are standard and while a hassle are necessary of you own a business that is listed with city address. If you only sold at locations outside the city...

    Compare Tax Preparation

    Darryl Said:How can I get practice tax information?We Answered:Yes, you can make it up, but a better option would probably be to contact a local university tax accounting professor and ask them for the situations that they give their students. They may be willing to give you that, and all they will need to do is attach a document to an e-mail and send it to you.Kevin Said:I just relocated to Ft Worth tx w my employer.I need to find a tax accountant who knows corp relo, ideas?We Answered:I would reccommend that you use a Certified Public Accountant. These folks...

    Compare Tax Preparation Software

    Craig Said:Which accounting Software is better - QuickBooks Pro or Microsoft Office 2006 Small Business Accounting?We Answered:It depends on what you are looking for. Functionality is about the same as QuickBooks Pro. Ease of use is subjective; what seems easier to you may be more difficult for me and vice versa. Microsoft Office Small Business Accounting 2006 sells for $149 vs. $99.95 for QuickBooks Simple Start and $199.95 for QuickBooks Pro. Payroll services that Microsoft offers through its alliance with ADP are downright cheap compared to what Intuit charges for its in-house payroll service. The biggest difference is...

    Corporate Tax Filing

    Monica Said:Do I need to file US corporate tax return for each state?We Answered:Depends, you need to file the 1120F for Federal - but depending on the type of work done, level of connection, facilities in the US, etc. determines if you're taxable at the federal level or protected from tax under the Canada-US Treaty. Then each state is looked at, the state return isn't combined with the federal return as it is in Canada where the provinces are filed with the Federal return so that you only need one return, depending on the type and level of work...

    Corporate Tax Filing Deadline

    Salvador Said:I recieved 2 different w-2 from my employer, how do I know which one to use?We Answered:You are probably going to need to file both of them. That happened to us one year...the company my husband worked for sent us 2 different W2's because they moved their corporate headquarters in the middle of the year and somehow that translated into us getting 2 different W2's with the total of both being the total income he got paid for the year. When you add up both amounts in box 1 of each W2, does it come to the same amount as...

    Corporate Tax Help

    Tammy Said:Democrats why would you EVER think raising corporate tax-rates is going to help our economy?We Answered:Something else that caught my attention was Obama said he was going to cut loop holes as well So he is going to raise taxes, and get rid of some tax right offs. He is really going to screw the business arena. I hear loop holes from Obama, but it sounds like business expenses to me.Gene Said:Any corporate tax accountants, do you have a filled-out fictitious form 1120??? Help on corporate tax??We Answered:I don't have a fictional 1120 but could provide help to you...

    Corporate Tax Law

    Clayton Said:What major is best to get into law school for corporate or tax law?We Answered:You don't need a specific major to get into law school. The best thing to do is to make sure that you chose a major in an area that you're good in and focus on getting good grades. For corporate or tax law, an undergraduate degree in business administration, accounting or finance can be helpful for understanding the concepts in those areas.Bernard Said:If I was to save the automotive industry, I would pass a law that said no corporate tax for zero emission..?We...

    Corporate Tax Laws

    Marc Said:What do you think about Obama's plan to lower corporate taxes but end tax breaks for overseas profits?We Answered:He could sign one document tomorrow and companies would be lining up to come into this country and hire all those out of work. You're right, lower the corporate income tax. But he wont. He knows it will work, but he won't. And yet people still believe he "cares"Brittany Said:Who do you believe will pay a corporate tax?We Answered:No doubt about it. Not only do higher corp. taxes trigger higher consumer prices, higher corp. taxes also retard job growth. Take a look at those states...

    Corporate Tax Lawyers

    Gilbert Said:LAWYERS! I'm incorporating in Nevis (Offshore) for tax benefits. Does anyone have experience with this?We Answered:Are you incorporating for privacy or tax benefits? You are unlikely to realize significant US tax benefits from incorporating in Nevis, for a variety of reasons. Sit down with a qualified international tax advisor -- not the one who persuaded you that Nevis was a good idea -- and have a serious discussion about the ramifications of your decision. Of course, you will have to report all the activities of your corporation to the IRS on Form 5471, attached to your own 1040....

    Corporate Tax Preparation

    Marion Said:will a fair tax like the one huckabee proposed work to solve this economic crisis?We Answered:The FairTax will work. It will bring in the same amount of revenue that the current tax code brings in, but it will do it in a way that is much more fair to the people paying the tax - you and I. One of the misstatements that opponants of the FairTax often make is that it must be coupled with reduced spending. That is not true. In fact the FairTax has nothing to do with reduced spending. The...

    Corporate Tax Preparation Software

    Gladys Said:What is the best software to do others taxes?We Answered:Good professional software will minimize time spent keying in returns, allow you to use bank products, track returns so you know where they are at in the filing process to allow you more time to counsel your clients. After evaluating many software packages I decided on Taxwise from Universal Tax Systems www.taxwise.com They have great support and are geared to the small preparer, they have many packages to choose from including pay per return for people just starting out and if you need to do just on or...

    Corporate Tax Return Filing

    Colleen Said:Canada tax filing - question on GST return?We Answered:You seem confused. There is a GST _credit_ that is applied for on your personal tax return. It is simply a box to be checked. There is a GST Input Tax Credit for GST paid on goods for resale given to GST registrants and entered on your GST return. There is no "GST refund".Virgil Said:Where can one find the best affordable help on filing a small corporate return?We Answered:I'm not sure why you're concentrating on P&L statements and balance sheets and summaries. I've never completed an 1120 so maybe I should have skipped...

    Cost Of Tax Preparation

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    Cpa Tax Preparation

    Dianne Said:What is the best way to find a good CPA (for doing tax returns) in Boston? How do I know I'm hiring a good oneWe Answered:You can do your taxes yourself unless you are in a complicated situation - a sole proprietorship, partnership, lot of real estate deals with depreciation, foreign taxes and regulations, own a mutual fund - along that line. If you are not comfortable, get on the National Association of Enrolled Agents - www.naea.org - web site. Click on "Find an EA". You click what you need: whether it be corporation, partnership, domestic...

    Delinquent Tax Help

    Clarence Said:Delinquent City Tax-being Sued by City?! Help?We Answered:At some point you will receive the court papers and they should tell you how much the city is asking for. If you owed the city for 2006 you should agree and attempt to make arrangements to pay. It will likely be at least double what you would have paid.Lester Said:Help with purchasing tax delinquent property?We Answered:1. Once you have possession, you do.Until then, nobody is going to care for it. 2. Nobody, once you have the right to possession of the property you'll probably have to have a locksmith open...

    Dividends Tax

    Leah Said:postpone dividends showing up on your taxes beyond the following tax year?We Answered:Dividends received by you are reported for the tax year in which you received the distribution. The issuer sends you Form 1099-INT by 1/31 which lists the tax year on it that shows which year the income must be reported.Clifford Said:What is the Tax rate payable on Australian share dividends for expats?We Answered:if you are an Australian living overseas, you are not an australian resident for tax purposes. If the country you are living in has a tax treaty with Australia, you will only need to declare...

    Dividend Tax Law

    Troy Said:why cant i just stop paying federal income tax when there is no law stating that i have to do so. ?We Answered:There are laws stating citizens and residents of the U.S. have to pay income taxes. Let's start with the Constitution. In Article 1, Section 8, Clause 1 of the Constitution it states, in part, "The Congress shall have Power To lay and collect Taxes,..." There are limits placed on that general power. First, taxes must be geographically uniform and direct taxes must be apportioned. The first income tax law in the U.S. was enacted in...

    Domestic Help Tax

    Janet Said:How does increase the taxes on domestic flights (within the uk) to help carbon emission effect the economy?We Answered:Short term, an increase in taxes hurts the economy. The government is not as efficient as business and the free market in determining how money should be spent. That being said, there are things that the government needs to spend money on because business and individuals will not. Is carbon emission one of those items? If you want an economic answer you would have to determine how much tax was being collected and how much that money will reduce carbon output....

    Download Tax Forms

    Marjorie Said:Can I download my tax forms from where I worked in 2008?We Answered:Hi! I assume you mean your W-2 from that employer. You can only download your form from your employer if they have that option set up. You will need to contact your Human Resources department to see if this is something that they have done for their employees. If they have not, you will have to wait for it to come through the mail. If, for some reason, you do not receive it by February 15th you may at that time, after notifying the...

    Easy Tax Filing

    Sandra Said:What is the safest and most accurate free online tax filing program?We Answered:H & r block Turbo Tax Slayer, Tax Act. Tax brain, H & r Block seems to be the easiest for novices just watch what you are clicking on. Hope this helpsFranklin Said:Tax time is coming up, how easy is turbo tax to use?We Answered:I absolutely recommend turbo tax - I'm a CPA, have 2 grad degrees in tax and accounting, and I use it for my own return because it is so easy! I think its really good for someone with no tax...

    Electronic Tax Filing Services

    Victoria Said:What's the best way to file your taxes online? What online services yield highest returns and best accuracy?We Answered:The http://www.irs.gov site is excellent for any information you will ever need, including instructions for the 1099. They will also recommend a number of online services for electronic filing, one of which that I've used with ease for a couple years now is: http://www.taxactonline.comNancy Said:When will hr block have the electronic form available for the hybrid tax credit?We Answered:You would need to contact the customer service at H&R Block to find out if the form is available to you and if there...

    Electronic Tax Filing Software

    Greg Said:What are the requirements to be a tax preparer?We Answered:If you are going to charge you'll want to get a PTIN http://www.irs.gov/pub/irs-pdf/fw7p.pdf so you don't have to scatter your SSN all over creation. If you are in CA, OR or MD you'll need to be licensed by the State. Other states have no licensing requirements. If you're planning on using software you'll have to buy commercial software. You cannot use the cheap off-the-shelf software commercially. Drake http://www.drakesoftware.com/ is popular as is Tax Works http://www.taxworks.com/ If you are planning on offering e-filing services you'll need to become an ERO or...

    Electronic Tax Preparation

    Robin Said:Do you prepare your own taxes or do you go to a tax preparation agency? Why?We Answered:I use TurboTax online. Why? - This is very simple data entry (answer the questions, let it do the rest), relatively fast ( I spend a good 4-5 hours in one sitting) and all my information is stored for the next year. This makes all the 401K, and IRA baselines easier. Plus I like the tax advise that is provided as you go along. You can even run some scenarios to see how decisions/events affect your tax responsibility. Costs about $40 per tax...

    Electronic Tax Return Filing

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    Employment Tax Forms

    Bill Said:When to start paying income tax on self-employment?We Answered:2008 tax return will be issued in April 2008 You have until 31 January 2009 to file this return Tax on your income for Year ended 5 April 2008........that is your income from whatever source from 6 April 2007 to July 2007 and your income from self employment from July 2007 to 5 April 2008...........is payable on 31 January 2009. If this amounts to more than £500 then you also have to make payments of tax on account for the 2008/09 tax year. The payments on account for 2008/09 assume that your tax bill for...

    Estimated Tax Forms

    Edward Said:Do I have to make estimated tax payments? I am not self-employed and 95% of my income is from my employer?We Answered:The best indicator is if you are having to pay in a large amount in taxes at the time your return is completed, or if you are getting huge refunds. For years this has not been an issue, but last year, the IRS started sending ES payment forms to people that are getting huge refunds (not EIC), because they prefer a taxpayer to withhold as close to even as possible. Back in the day, the IRS used to...

    Euro Tax

    Roberto Said:What will be the net salary for 2,861 euro gross after tax deduction in netherlands. I also need living cost?We Answered:you can support your wife and kid but living in the "randstad' ( the big cities in the west of holland) is expensive.Lauren Said:I'm from South Africa worked in UK for 5 months. I do have a Euro passport as well how do I claim my tax back?We Answered:The question is, in what country are you normally resident? If you are a resident of either an EU or Commonweath country, then you are entitled to the annual tax free...

    Exemption Gift Tax

    Jane Said:Is there an IRS tax on a gift of money from an international source?We Answered:is your mother a U.S. citizen? The money she inherits is not taxable in U.S. If she gives you more than $12,000. per year she would be liable for gift tax. Your dad can also gift to you $12,000. per year for total of $24,000. They can also do the same with your sister. A check from a foreign country is a nightmare and will cost you a couple hundred to get the money,, wire transfer is the best,, fastest,, safest way. They will no doubt be...

    Ez Tax Filing

    Carrie Said:do we need December paystub for filing Tax returns?We Answered:No, you need your W-2 to file. Did you remember to tell your boss that you are now on an H1B visa? If you were F-1/OPT before, the boss needs to know because if you weren't paying FICA/MC, you are now required to. (And if this is the case, remember you are a non-resident alien for tax purposes--you will file a 1040nr-ez.)Earl Said:I am at a job that considers me a independent contractor. How do I do my income tax filing?We Answered:You are self employed or independent contractor. You...

    Ez Tax Form

    Edward Said:Donation write-off's and the EZ tax form?We Answered:If you take the standard deduction, you can't write off charitable contributions. If you itmeize your deductions, you can. You would have to donate more than $5,350 as a single filer to itemize. ($10,600 for a married couple).Wendy Said:I'm an independent contractor hired, but I want to pay my own taxes. What is the tax form used?We Answered:You are self employed or independent contractor. You will report your income and expenses on schedule C or C-EZ (Form 1040). This income is subject to SE tax at 15.3%. Read about self employed...

    Ez Tax Forms

    Russell Said:TAX question... How do you file 1099-Misc income? Does that just go on your 1040 EZ?We Answered:No, you can't use a 1040EZ if you have 1099-misc income. You have to file a schedule C or C-EZ, a schedule SE, and a form 1040 not 1040A or EZ. If you had other income and had taxes withheld from that, it's possible you'd still get a refund if you had too much withheld from the W-2 job. Otherwise you will most likely owe money rather than getting a refund, unless you are eligible for EIC, then you might still get...

    E File Tax Return

    Jordan Said:How long does it take the IRS to approve an E-file tax return?We Answered:An acceptance or rejection usually comes within 24 hours. I'd worry some. But it might just be that you didn't file quarterly. That's going to cost you money, but if you can back up everything on your return, you'll be OK once you pay the taxes you owe, plus any penalties for under-withholding.Floyd Said:Can I E-file my 2008 tax return if I did not file taxes in 2007? I?We Answered:If you did not file in 2007 and do not have an agi, you...

    Fat Tax

    Lisa Said:Should there be a tax on fat people?We Answered:np, im not one of those fat people i don't think that is fair for fat people. i also find it kinda of "racist"//discriminating for them to say that. it is very mean.Neil Said:What do you think about the Fat Tax, is it fair or unfair if you do not know what the fat tax is, read on?We Answered:I'll support a tax on FAT CATs...that is those CORPORATE PIGs that make more than $250,000 a year...again, I'm talking about PROGRESSIVE TAXATION and then use that tax revenue to support health initiatives...

    Fed Tax Filing

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    Filed Tax Returns

    Leroy Said:How far back should past due tax returns be filed?We Answered:If these are 1099-Misc forms with income in box 7, the taxpayer has truly shot themselves in the foot. 1. The IRS collection statutes don't start until you file. When finally caught, the IRS can go back to all years. (In a practical matter they usually stop around 6 years ago, though they clearly keep the records for at least 10.) 2. When filed, the SE tax is owed. That's 15.3% on the net earnings. The IRS sends their reports over to the SSA...and the...

    File Tax Returns Online

    Daisy Said:Anywhere online that I can file old tax returns myself?We Answered:Prior year returns can not be electronically filed, only the current year(2006) You must complete a paper return and mail them in separately, You can access prior year forms and instructions here http://www.irs.gov/formspubs/article/0,,… You have until April 17th to file the 2003 return and be able to claim a refund for that year, there is a 3 year Statute of Limitations on claiming refunds, the return must be filed within 3 years of the original due date, If you still need to file 2002,2001 etc those refunds are lost to...

    Foreign Gift Tax

    Stella Said:Large sum of money gift from foreign country?We Answered:Keep any letters that show this was a gift from an individual. The reporting requirement for foreign gifts from an individual is $100,000.Heidi Said:Do i have to pay any income tax for the gift donation given by a foreign relative?We Answered:any gift, foreign or not, worth over 11,000 is taxable by the US government. Most likely they wouldn't find out, but we all know what happened to the guy from survivor who avoided paying his taxes.Tanya Said:I have a home which I would like to transfer to my niece as gift,...

    Franchise Tax Preparation

    Ramon Said:What are good companies to franchise in the US?We Answered:Entrepreneur.com releases an annual top 500 franchises, and you can find the list of the top franchises for 2006 in this URL: http://www.entrepreneur.com/franzone/ran… Click on any franchise in the list that interests you and you can get information about that franchise -- from costs involved, company background, franchisee requirements, and other information. According to the list, the top 10 franchises for 2006 and the start-up costs are as follows: 1 Subway (Submarine sandwiches & salads) = $70K-220K 2 Quiznos Sub (Submarine sandwiches, soups, salads) = $71.7K-251.1K 3 Curves (Women's fitness & weight-loss...

    Free 1040ez Tax Filing

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    Free 1040ez Tax Form

    Roberta Said:How do I receive a filled 1040ez form?We Answered:You can contact the IRS for a transcript for free. If you want to get a form by for copy get ready to pony up some cash. Call 1-800-829-1040 to begin the process.Bernard Said:What tax form will I need to use?We Answered:There is no space on the 1040-A form for the Home-Buyer Credit: You will need form 1040Lester Said:Where can I get free help in filling out a 1040EZ form?We Answered:Check at the library--they frequently hae access to that type of information. Also you probably don't have to...

    Free 2005 Tax Filing

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    Free E Tax Filing

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    Free Irs Tax Filing

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    Free Irs Tax Help

    Duane Said:Direct Deposit refund from IRS for Federal Tax missing. Can any one help please?We Answered:The bank should reject the direct deposit back to the IRS The IRS will then issue a paper check to the address of record that is shown on the return. You can contact the IRS at 1-800-829-1040 or Taxpayers located outside the U.S. may also contact the IRS by mail at: Internal Revenue Service P.O. Box 920 Bensalem, PA 19020 Or you may telephone or FAX the Philadelphia Service Center office at: Tel: 215-516-2000 (not toll-free) Fax: 215-516-2555...

    Free Irs Tax Preparation

    Claudia Said:Is there a reliable free tax preparation online?We Answered:As long as your return is straightforward, there is absolutely no reason to pay a tax professional to prepare it. However, if you are itemizing deductions or have other credits or gray areas, it's best to go to a pro. As others have said, the IRS site has several options listed....

    Free Military Tax Filing

    Jamie Said:Free Tax Website for the military? Anyone know a good fast website to use?We Answered:The one we have used turbo tax freedom for the past couple of years.. works great! There should also be a tax office set up on post that will help you and file for free..but you can do it yourself with TT.. http://turbotax.intuit.com/taxfreedom/Tamara Said:Should the military be tax free?We Answered:Oh I agree 1000% and I ain't even from England... Think the USA should do the same... Most Lower ranks are on Welfare...Jo Said:Do i have to pay taxes on tax free money over seas on military deployment?We Answered:If...

    Free On Line Tax Filing

    Duane Said:Any one out there know anything about the on line free tax preparation service TaxAct? Is it legitimate?We Answered:It works well and is very legit. You can download the software and print the form and mail if you prefer all free of charge. They make money off e-filing and selling various additonal services. I've used it the last 3 years with no problems. Also TaxAct is NOT associated with HR block the other user is thinking of Taxcut.Jon Said:Reviewed Fed Gov list of free on line federal tax All have CATCH. None free for age 65+ What say you...

    Free Tax Calculators

    Johnny Said:Why are all the free tax calculators showing me different results?We Answered:they are just estimators.Christopher Said:Is anybody aware of a free tax calculator for how much to send in for estimated taxes?We Answered:Sure! Use the worksheet on Form 1040ES to calculate your estimated tax payments for the year. Re-calculate things every couple of months and adjust your estimated payments up or down as your income and business expenses reflect.Jeff Said:I made $59,000 tax free last year, how much do you think I'd have to pay back to the IRS?We Answered:If you meet the physical presence test you...

    Free Tax Filing 1040ez

    Stephen Said:Do you get better tax refunds by going to a place like H&R Block than you would filing on your own?We Answered:If the tax return is done correctly, and honestly, it shouldn't matter who does the return, it should come out to be the same. If you are not comfortable doing the return yourself, look for an AARP VITA center in your area. Trained volunteers will do your taxes and file them electronically for free. You do not have to be an AARP member to use the service. The program is designed for senior citizens and other folks with...

    Free Tax Filing 2005

    Gordon Said:How can I file 2005 taxes, 2006 taxes, 2007 taxes, and 2008 taxes for free?We Answered:The only online provider I'm aware of that offers previous year tax preparation for free is UncleTax: http://www.UncleTax.com They offer 2004, 2005, 2006, 2007, and 2008. Only 2008 can be e-filed (till Oct 15, 2009). The other years need to be mailed in - they provide you with PDFs of your returns. The only 'catch' is that you have to sign up for a free/trial offer. But the offers seem legit.Freddie Said:I need to find my AGI from my 2005 tax return, but...

    Free Tax Filing On Line

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    Free Tax Filing Software

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    Free Tax Form

    Dolores Said:Can a company charge sales tax on free products?We Answered:That's governed by State law. Some states levy sales tax on the net sales price, including free goods, meaning you'd pay nothing. Others levy on the normal selling price before the application of any price reductions, coupons, or freebies. The one thing that you didn't ask, but I'll provide it anyway is the income tax treatment of the free products you received. They are taxable as ordinary income at their normal retail value, less the sales tax that you paid. This is treated as Self-Employment income so...

    Free Tax Help Online

    Betty Said:i need help on a article i lost for class About online library with every book and its free?We Answered:No you are not correct. Think about it. Who is paying for the library? Public libraries exist because of local property taxes. There will probably never be a library that has every book. It would be too expensive to maintain the database and server. The Library of Congress gets 2 free copies of every book printed in America because that is part of US copyright law. But it doesn't put the books online for all to read.Brittany Said:I did my...

    Free Tax Law

    Michael Said:Are all unemployment benefits in 2009 to be tax free not just the often mentioned $2400 deduction?We Answered:Yes, I have heard about the Jobless STUB 2009 Tax Free Act and it just might pass. The new legislative reform bill will make all unemployment collected in 2009 tax free not just the current law deduction of $2400. Many should consider waiting before filing to see if it or a bill like it passes because maybe most of their income is from unemployment compensation. Besides you have until April 15 2010 to make a decision. Especially if they did not...

    Free Tax Preparations

    Lena Said:Websites offering free tax preparation?We Answered:I have seen the sites an AGI of under $54k. I'm planning on e-filing through those sites for family that qualify. I'll do there returns before hand to make sure there AGI qualifies they have to pay me for doing an research for their returns but don't have to pay the e-file fee (CPA exam fees are steep so no free lunches). I've been reading there have been a lot of complaints about the H&R block site.MeJeanne Said:Where Can I go online to get free tax preparation?We Answered:Try it Free. Easy...

    Free Tax Preparation Services

    Dora Said:Has any one suffered fraudulent use of their bank accounts after using a free tax preparation service?We Answered:Some customers of tax preparation companies do not have bank accounts and would have to pay an Volunteer groups offer free tax preparation services for low-income filers for more help ; open the second & fourth link in: www.cut-my-tax.co.ccLuis Said:what online tax preparation services do you use?We Answered:I know some people who used the irs.gov one and said it was good and easy. You could try it...it's free. http://www.irs.gov/efile/article/0,,id=1…...

    Free Tax Preparation Software

    Thelma Said:Which free tax preparation software is best for US resident aliens?We Answered:Check this site out I know they do federal taxes for free but I'm sure this could be a good option. http://www.ez-taxreturns.infoBillie Said:Do I need to purchase a tax preparation software every year?We Answered:You have to buy a new one every year, but, you can do multiple returns using the same package So, you can find a couple people to chip in, and it;s not so expensiveStephanie Said:What is free federal tax preparation software for an agi of $66,000?We Answered:Go to irs.gov and it will tell you...

    Free Tax Return Filing

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    Free Tax Usa

    Joy Said:My parents are citizens of India. I am a US citizen. The Gifts I give to my parents are they tax free?We Answered:The money that you gift to your parents is tax free to them. You have a reporting requirement if the gift is greater than $12K to a single person a year. Once you make that report (IRS form 709) there is no tax consequences until your estate is settled (after you have died). At the present there are exclusions for estates with less than $2 Million. Assuming that there were no changes to...

    Free Wisconsin Tax Filing

    Francisco Said:Can I use Turbo Tax basic if I lived in two states?We Answered:Sure you can. It is software that makes filing your return(s) much easier. If you choose the Deluxe version, you get a free state download. Note that you still must pay about $16.95 to file electronically. However, you can choose to mail and print your returns with Turbo Tax as well. If Washington has no state income tax, I'm pretty sure you won't have to file anything with them. Just ask your mom what she did with the Washington stuff. Good luck!Adrian Said:"FREE" turbo...

    French Tax Law

    Jeffery Said:Napoleon made all of the following changes to French government EXCEPT?We Answered:The answer is C. He established education system, adjust the tax and made code napoleon which is restructuring french law.Eduardo Said:Have the French caught on to the carbon tax fraud and warming hoax?We Answered:I don't think our's is going to be so straightforward in the US. We elected presidents that saw fit to nominating Supreme Court Justices that don't interpret the law, but rather insert whatever feels good or they use European Law or Nigerian as precedent. Consequently we have CO2 as a pollutant. We...

    French Tax Lawyer

    Wayne Said:Path of a Probate Lawyer?We Answered:It depends on your country, state or province of your residence. If you reside in the US and/or plan to attend school there, you need to complete your undergraduate studies and go to law school (except for Vermont which allows you to clerk instead of law school). After law school you will need to pass the bar examination in the state(s) where you wish to practice. You will need to comply with all the licensing requirements for the jurisdiction(s) in which you decide to practice. It does not matter what your undergraduate degree is...

    Ga Tax Filing

    Christopher Said:Filing Tax as Dependent in GA? Please Help Me?We Answered:I assume that you are filling out Form 1040-EZ. Do exactly what it says to do. Check the "You" box and then turn to the back to figure the amount to write on line 5. See the worksheet titled "Worksheet for dependents who checked one or both boxes on line 5" The amount from Line 'G' of the worksheet is what you put on Line 5 on the front.Donna Said:My husband moved to GA in may, does he still have to file GA state tax? If...

    Ga Tax Forms

    Vera Said:My employer held out Ga state taxes but I live in Tn?We Answered:So, you work in Georgia, making this Georgia source work. Georgia has a non-resident tax return (with penalties) for people like you. And no-the law didn't change. Once you made enough money per year, you had a filing requirement. If Tennessee taxed wages, you'd get a credit for taxes paid on the TN return, but they don't, so you are out of luck. The GA taxes are deductible on your federal return. When you finally get caught up on all of your delinquent...

    German Tax Law

    Vickie Said:Do you have to pay U.S. tax if you are living and working and paying taxes overseas?We Answered:Yes, you DO! You ARE an American so you ARE obligated to file a US Return. You can claim a foreign tax credit of the Euro taxes you paid on your income while in Europe to offset against your US income taxes. Also, you should file Form 2555 Foreign Income Exclusion to exclude a portion of your salary while you were abroad. You did know that you can LEGALLY exclude a portion of your foreign earned income, right??!! You should seek a tax professional in Europe...

    Gifts Tax

    Georgia Said:Can gifts to business associates be a tax deduction in Canada?We Answered:yes, its an allowable tax deduction as long as the gift is under $750 in value, and not taxable in the hands of the recipient.Lauren Said:Australian Tax - treatment of gifts from overseas company?We Answered:If you posed this question to a tax accountant in person they would ask you more questions before giving you an answer.To find out if you are receiving distributions of profit or trust income as a beneficiary, for example. But without delving too much into the details of the arrangement, the fact that you're...

    Gifts Tax Free

    Phillip Said:Does anyone know about tax free gifting?We Answered:There is no gift tax in the UK, so you can give as much and as often as you like. However, any gifts over £3000 per year are counted towards your Inheritance Tax allowance if they are given within 7 years of death.Billie Said:is there such a thing as a tax free gift of money?We Answered:If it is yours then your mother should be able to just withdraw it and give it to you, tax free. If it is your mother's money she can gift up to €521,208 to you tax free. It's all...

    Gift And Tax

    Christian Said:Tax implications of a gift from joint tenant in house purchase?We Answered:No, don't make this complicated. Gifting will cause you tons of future problems. Just get a simple loan with both of your names on the loan & the title. If the loan company balks, walk out! There are hundreds of loan companies that want your bussiness and will not get you into a mess like a gift will. It would not be considered a gift, as it is "paying" to be put as a joint owner. You might have to pay income tax on this, perhaps as high as...

    Gift Tax Advice

    Esther Said:If my parents gift me 30k to put money down on a house, do I have to pay income tax on the 30k?We Answered:Wow! None of your responders, as of this writing, except possibly one, have it completely right. Your parents, if they elect to "split" the gift, can give you up to $26,000 (2009). If they give you 30k, they've made a "taxable" gift of $4,000. When they file a gift-tax return, the $4,000 taxable gift will simply chip away at their $1 million lifetime gift-tax exemption. Gift taxes, if any, are the responsibility of the donor....

    Gift Tax Allowance

    Darrell Said:Tax Treatment of a Child's Allowance?We Answered:Allowance is not reported at all. It is not a job, it is a gift, and unless it is over 12k a year is completely tax free.Laurie Said:How much can you earn per year without paying income tax in England, UK?We Answered:The personal tax allowance goes up to £5435 on April 6th for most people. When you ask about gift tax you would need to be more specific. Gifts to you? Gifts from you? Gifts in either direction attract no tax unless the donor dies within 7 years. Then the gift value...

    Gift Tax Annual Exemption

    Brett Said:Who can be given a gift under the gift tax guidelines?We Answered:You may make gifts of any amount to anyone. However, you are probably concerned about the potential for gift taxes (and other transfer taxes). The annual exclusionary amount in 2009 is $13,000 per recipient. In addition to that, there is a lifetime exemption of $1,000,000 from gift taxes. This means that the first $13,000 you give to any one recipient will not be taxable. There is no limit to how many annual exclusion gifts you may make. If you want to make gifts of...

    Gift Tax Australia

    Martin Said:Do i need to pay tax on gift money from overseas?We Answered:The interest on the gifted $30,000 is assessable income. You are entitled to a credit for the tax already paid.Lynn Said:seeking information on legal tax shelters in australia ... not just negative gearing thanks?We Answered:Oh Boy are you are waving a great big RED FLAG at the ATO with that scenario!. Tax shelters are a naughty word and the SCHEME (scheme is also a naughty word) you are asling about is not legal for tax purposes. For tax purposes you must have INCURRED the expense and PAID...

    Gift Tax Credit

    Olga Said:How can I deduct Gift Aid from my Tax Credit?We Answered:this is a US tax question?Edna Said:Can I get a first time homebuyer's tax credit if part of the downpayment is given to me from family?We Answered:Yes, you will get the tax credit even when you get finance from family. You will file Form 5405 with amended return Form 1040X. It will take 8 to 12 weeks to get the credit. This credit is available for first time home buyers and those who did not own home in last three years. The credit applies to home located in the United States.The...

    Gift Tax Deductible

    Bob Said:are items purchased with a gift card tax deductible?We Answered:If the purchases would be deductible if you paid cash, then yes they're deductible if you pay with the gift card.Robert Said:If I gift money for closing costs on a house, is it tax deductible?We Answered:Gift money may or may not be taxable depending on the size of the gift. $12,000 is the tax exclusion amount so giving more than that amount may lead to tax consequencies. Remember the amount is $12,000 per person that is giving her that money. if you are married, you and your...

    Gift Tax Deduction

    Jackie Said:Monetary gift and tax deduction?We Answered:No deduction. Only contributions to charities are deductible. Plus, contributions to charities must be non-conditional. She can not give it to a charity and tell them to give it to you.Angela Said:Who gets charitable donation deduction when donation was gift to someone else?We Answered:You get the deduction. I am guessing that you wrote a check to a charity in honor of someone, maybe for a birthday or to commemorate a special event. In that circumstance, you get the deduction. After all, you made the donation. All your gift recipient gets is a letter advising...

    Gift Tax Exclusion

    Ricky Said:If I exceed the gift tax exclusion one year do I have to file form 709 in subsequent years?We Answered:If you do not make taxable gifts in the future, you do not have to do the 709 for the next 4 years. If you, by yourself, give $32,000 to one child, it's $19,000 to much. You'd could either use up $19K or divide by 5. $32,000 / 5 = $6400 and you are back under the $13K limit. You could give the same child up to $6600 a year for the next 4 years and not trigger...

    Gift Tax Exempt

    Kimberly Said:Can I give each of my children a gift of money each year that is tax exempt?We Answered:Yes you can. You can give each child, spouse, and grandchild up to $12,000 this year withour paying gift tax. The gift will be deducted from your $1 million estate tax exclusion though.Perry Said:Do i have to pay tax for gift car?We Answered:No, you do not have to pay tax for a gift transfer. http://www.dmv.ca.gov/pubs/brochures/how… I should also note that an uncle-nephew transfer does not qualify as a family transfer, so a smog certificate would generally be required. http://www.dmv.ca.gov/pubs/brochures/how… However...

    Gift Tax Exemption

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    Gift Tax Form

    Diana Said:What is a gift tax form and when is it needed?We Answered:Form 709 is the U.S. Gift tax form. You have to file if you give someone more than $12,000 in any year, If you are married then you would file if you gave more than $24,000 to any one person in a year. A gift can be cash or property. For example give a $11,000 car and $3,000 of cash and you would have to fileTerrance Said:USPS Shipping: Is it illegal to put low value and put the item as gift on custom form to prevent custom tax?We...

    Gift Tax Free

    Karl Said:Can a parent gift a property valued at $95,000. in exchange for "rent free" housing without tax consequences?We Answered:The person receiving the gift will owe no taxes. The person giving the gift will have to file a gift tax return but will owe no gift tax unless the lifetime exclusion of $1 million has been exceded. Before doing this, talk to an estate attorney. Inheriting property rather than receiving it as a gift may be preferable for your situation. If a parent gives the child the house and then lives in that house without paying rent, there is no...

    Gift Tax Income

    Elaine Said:Income tax on gift money?We Answered:Each of your parents can make a gift of $12,000 to you annually ($24,000 total) without incurring a gift tax, which, if it is incurred, would have to be deducted from their unified gift and estate tax credit. A gift does not constitute income, so you will not incur any additional income taxes as a result of their gifts. You may, in turn, use the funds to pay down or pay off your mortgage. Your parents should speak to a tax attorney or accountant about how to structure their gifts. I would suggest that your...

    Gift Tax Information

    Stanley Said:I want to give my son & his wife $24,000 gift, do I have to pay gift tax?We Answered:Write a check to him, and another check to her. Here's a quote from source: "Gift Taxes IRS Tax Tip 2008-15 If you gave any one person gifts in 2007 that are valued at more than $12,000, you must report the total gifts to the Internal Revenue Service and may have to pay tax on the gifts. The person who receives your gift does not have to report the gift to the IRS or pay gift or income tax on its value. Gifts include...

    Gift Tax Law

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    Gift Tax Laws

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    Gift Tax Limit

    Zachary Said:Is there a limit on the value of a gift somebody can send from US to UK without import tax being applied?We Answered:at that value there would definately be no concession for it being a gift. the limit on gifts is only £36 - anything more than that is subject to both import duty and vat. import duty rates vary from item to item, so you could be lucky and have a 0% duty rate and only have to pay vat, or be unlucky and have a duty rate of 15% plus vat on top. TBH the only way...

    Gift Tax Limits

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    Gift Tax Questions

    Dianne Said:If I gift it some money to someone who puts it into a high-interest savings account, who pays what tax?We Answered:Your instincts are correct. Aside from the original tax you paid on the money as income, you wouldn't be responsible for the receivers tax liability on the interest earned. It's their income, not yours. There are some qualifications to gifts as untaxed income though. Under some circumstances-- like the amount-- the receiver may have to pay taxes on the gift as income. The IRS website is a great resource for questions like this.Amy Said:Would I or my father have to...

    Gift Tax Rate

    Roberta Said:Can I give to charity to avoid the higher tax rate?We Answered:It doesn't avoid it. If you give £1000 to charity, it extends the lower rate band to £38,400. You pay tax at 20% rather than 40% on £600 but it's still cost you £1000-£120= £880 in total. Make it through Gift Aid and the charity can reclaim the tax.Ella Said:I have purchase land of Rs 25 lacs whose state govt rate is 75 lacs.Is gift tax applicable.?We Answered:You have purchased land far below market value??? Or are you about to incur a gain of Rs 50 lakhs???? Do you understand what...

    Gift Tax Rates

    Jamie Said:Do I need to pay gift tax?We Answered:Is it Indian Tax question. I think so because you have used Rs. in your question. If you declare its value, then you have to pay gift tax as the gifts above Rs. 50,000 are subject to gift tax. The value of the gift will be added to the income of the receiver and the receiver has to pay tax as per slab rates. If the gift are in between close blood relatives, then there is no gift tax at all for any amount. http://sify.com/finance/fullstory.php?a=…Diane Said:how much is the Gift tax in...

    Gift Tax Rules

    Vickie Said:Gift tax. I know your allowed to give any one individual around 12000 per year without paying a gift tax.?We Answered:You can give up to $12,000 per year per recipient to an unlimited number of recipients without filing a Gift Tax return or incurring a Gift Tax liability or dipping into your $1,000,000 unified lifetime exclusion. However, if it appears that you are gifting to 2 people who will gift to a 3rd party then none of the gifts are bona-fide gifts and EVERYONE on the receiving end must claim what they received as ordinary income. To be treated...

    Gift Tax Uk

    Jim Said:I live in Uk. My parents live in South Africa. They gave me money as a gift. Am I liable for tax?We Answered:No tax on the capital receipt assuming your parents are South African domiciled (if they are UK domiciled you would be below the threshhold to pay tax, but they would be required to report the gift on a form IHT100), but you would be liable to tax on income arising from the deposit in the UK. If you kept the funds offshore, you would have only been taxed on the income you brought into the UK...

    Help Paying Property Tax

    Sean Said:If selling an expensive piece of property in 2010 would it help me out tax wise in 2010 to pay my 09 tax late?We Answered:Yes, that will help you out a bit on the tax liability for 2010.Kristina Said:Can someone please help me with a PROPERTY TAX question?We Answered:Your tax value for property tax purposes has nothing to do with what a bank or independent appraiser will come up with. In my area, some people are being taxed at values on homes, that are currently for sale, that are tens of thousands of dollars over the asking price...

    Help Paying Tax

    Mildred Said:Help. I am on emergency tax in the UK and paying too much. How do I get my tax code?We Answered:Hi, Try this site and search for your office. You didn't give much information, did you get a P45 from your last job? If not you will pay this until you do or the Tax Office can be bothered to sort it out! You will get it back, I did (over £300). http://www.hmrc.gov.uk/local/individuals…Ryan Said:Income tax help! What should I be paying?We Answered:Can't tell if any tax due, and if so how much, as you haven't told us amount of wages....

    Help With Tax Form

    Geraldine Said:are there any tax preparers that can help with an income allocation for non obligated spouse form?We Answered:Call your state and ask if there is an injured spouse form you can fill out and send in. If not, then you can possibly amend your state returns and file married filing separate. When you file separate then then state can't go after your portion of the refund.Todd Said:tax help what do i do with a 1099g form?We Answered:On your federal return, it's taxable income. But in most if not all states, unemployment comp is not taxable at...

    Help With Tax Forms

    Leslie Said:Help with tax forms?We Answered:If you consider them as independent contractors(looks like they are), you should issue forms 1099 MISC (also don't forget to send them to IRS along with summary form 1096) every person whom you pay $600 and up. In this case only you can expense this commissions. Just give these people to fill out form W9. It contains their personal informationVicki Said:Does anyone know a really good book that will help me with my tax courses im taking?We Answered:No such thing. Taxes are complicated beyond reason. This is what makes the books hard to...

    Help With Tax Returns

    Martha Said:Can anybody recommend an online software which will help me with me tax returns?We Answered:There is a new product on the market called SamsTax (think it stands for Self Assessment Made Simple) - I have signed up for the free trial of this, found it through Google. Its great so far! Maybe check out their site http://www.samstax.co.ukJohn Said:So how does buying a house help with doing my income tax return?We Answered:You might be able to take off the real estate tax you pay and mortgage interest. Also, in some years, certain home improvements (e.g. solar panels for...

    Il Tax Filing

    Ivan Said:Filing tax returns for 2 states - Please help?We Answered:You will need to file an IL-1040 since you are a resident and report all your income. http://www.revenue.state.il.us/TaxForms/… Since you paid KS tax on your income, IL will give you a credit for paying taxes to another state. You will need to file an IL Schedule CR (below) to calculate this credit. http://www.revenue.state.il.us/TaxForms/… You will also need to file a non-resident Kansas tax return (Form K-40) http://www.ksrevenue.org/pdf/forms/k-400…Amanda Said:How to file for return on state tax from two states? FL and IL( where i have never lived or worked)?We Answered:If you are not an IL...

    Il Tax Form

    Patricia Said:If I work in LA for 3 months, but went to school in IL rest of the year, what's my state of residence for tax?We Answered:IL however, you'll find that it makes little difference except for which income tax form you file. CA still demands that you file a form 540-PR [part year], which is available online from their Franchise Tax Board [might be at ftb.gov -- can't recall]. I'll bet that IL also wants you to file an income tax return and on their regular form for residents. Look for a credit on the IL return for income...

    Il Tax Forms

    Claire Said:My tax prepare filed the wrong state (IL) for my 2004 tax, it was suppose to be WI and now IL is charging me?We Answered:You can paper file an amendment form (1040X), this form is available on the IRS website (www.irs.gov), you would have fill this form and mail it in since the IRS does not accept this form through e-file. For the future you can try FileLate.com: http://www.filelate.com you will be able to file all you late tax returns here and they will answer all questions you have. I have used this online service...

    Incom Tax

    Sonia Said:I worked as an independent contractor in RI but work the rest in CO. Do I have to pay RI tax on busines incom?We Answered:Yes you need to file there as a non-resident with source income from RI. A credit for RI tax will be allowed on your CO state return.Nathaniel Said:if i send money from dubai ro india, will there be any incom tax?We Answered:No income tax, but there will be a fee to send the money. The government levy will be hidden in the fee.Maureen Said:can it treat income tax refund as incom?We Answered:Income tax...

    Individual Tax Preparation

    Judith Said:Tax preparation?We Answered:You can take a course through the major tax preparation companies. The person from H&R Block was wrong though, in that they said that H&R Block is better than CPAs. it depends upon the individuals. I have had to fix errors by all the major companies including H&R blockAlan Said:how to become a Tax Preparer?We Answered:Signing up with a tax preparation firm like H&R Block is a good stepping stone to get some practical hands on experience; if you want to go that route, just do your homework and pass the tests in their Income Tax course...

    Inheritence Tax

    Ruth Said:Does my Father's estate have to pay inheritence tax on items he gave away or sold prior to his death?We Answered:If he gave away more than $13,000 to any one person, it could trigger a tax to the recipient. If he sold things, the money he received remains in his estate. If the estate is over the maximum amount ($Millions of dollars) tax would be owed. If he was not a millionaire, you owe no taxes..Joann Said:Obama would reinstate the inheritence tax, what do you think?We Answered:Just to clarify... The estate tax was not repealed. It is currently in place,...

    Internal Revenue Tax Forms

    Enrique Said:Besides the internal revenue, where can i pick up tax forms?We Answered:Your local library should have them. Also check the IRS website.Tammy Said:Where does the IRS get the names for its tax forms? For example, why is one called the 1040?We Answered:Maybe they came up a with test return, and counted how many hairs the test subjects pulled out of their head trying to fill out the form, or how many times they swore trying to fill out the return, or how long in minutes it took them to fill out the form. Who knows, the forms are...

    International Tax Law

    Gene Said:Since climate change has been given the same status as religion in international law, it the cap and tax bill?We Answered:"In a landmark ruling, Mr Justice Michael Burton said that "a belief in man-made climate change ... is capable, if genuinely held, of being a philosophical belief for the purpose of the 2003 Religion and Belief Regulations". "The ruling could open the door for employees to sue their companies for failing to account for their green lifestyles, such as providing recycling facilities or offering low-carbon travel." .Lester Said:International Tax Law: Do I need to include it in income tax?We Answered:Opening...

    International Tax Lawyer

    Terrance Said:Any FREE online distance learning for international worldwide?We Answered:K12 is not free and in most cases doesn't qualify as homeschool (unless you pay for it).. it is a VIRTUAL public school program offered in some states, paid by tax dollars. It would not benefit someone in HK. Sorry. I do agree.. there probably isn't anything that would be considered "international", certified and approved in all countries. On the other hand, you can learn just about everything except degreed specialized professions (doctor, lawyer etc.), online at little to no charge. The list of classes and...

    International Tax Lawyers

    Leon Said:Why is the Church of Scientology allowed a tax-exempt status when they clearly charge for services?We Answered:One of the only reasons they enjoy "tax exempt status" on religious ground in the United States is because they bullied the IRS into a "deal" through extremely aggressive barratry (which is the offense of persistently instigating groundless lawsuits) against the IRS & IRS officials, and arranged to drop all 2,500 frivolous lawsuits only when an "agreement" was reached. In addition, Scientology's lawyers hired private investigators to dig up any "dirt" on IRS agents which was then used to blackmail or publicly smear...

    In Tax Forms

    Jessica Said:In what year did the United States Department of Revenue first provide tax forms and booklets in Adobe PDF?We Answered:PDFs were first offered by the IRS (and some states, the MA DOR for one) on CD in the late 90's and became available on the website about the same time. Only a few, at first, and they were merely images of the form; you had to print them first and fill in by hand . As they became more popular, the IRS began offering the forms in a fill and print format; though not all are available...

    Ira Tax Law

    Joe Said:NO Tax return Can i contribute to IRA 2007?We Answered:1. If the $4500 was earned income reported on a W2, then you can contribute $4000 to your IRA. Since you will pay no federal income tax, it is pointless to contribute to a traditional IRA. Contribute the money to a Roth IRA so that when you withdraw the money upon retirement, it will all be tax free. 2. DON'T FORGET THE REBATE. It is free money that by law the IRS cannot take back from you. File your 2007 Federal Income tax return.Kyle Said:Adoption Tax Credit on a...

    Ira Tax Laws

    Lewis Said:What is a good reference to learn about tax laws and liabilities associated with investments- ) stocks & equitWe Answered:Read about those in Publication 17 and other free publications from the IRS. Investments take in a lot of information such as Roth and IRA and ownership of a business entity.Judy Said:Are taxes due when you inherit money from Mother-in-laws IRA?We Answered:If it is from a traditional IRA-YES. If it is from a ROTH IRA-MAYBE. You really need to bring your documents to a CPA or Enrolled Agent for review. I have listed some articles below that...

    Irish Gift Tax

    Phyllis Said:where was the coco bean first discoverd?We Answered:1500 BC-400 BC - The Olmec Indians are believed to be the first to grow cocoa beans as a domestic crop. 250 to 900 CE - The consumption of cocoa beans was restricted to the Mayan society's elite, in the form of an unsweetened cocoa drink made from the ground beans. AD 600 - Mayans migrate into northern regions of South America establishing earliest known cocoa plantations in the Yucatan. 14th Century - The drink became popular among the Aztec upper classes who upsurped the cocoa beverage from the Mayans and were...

    Irs 1040ez Tax Form

    Nancy Said:TAX QUESTION: How can I edit a 1040EZ that I've already sent to the IRS?We Answered:You will need to file a 1040x - that is the amended tax return form. It will require you to fill in the numbers that you already sent it, which amounts change, and what the return should have said. I just did this last year, and I work for a tax service this year so if you have any questions you can email me. Go to the www.irs.gov to download the form and instruction or you can probably get them at your local...

    Irs 2004 Tax Forms

    Judy Said:free tax forms (1040) for 2004?We Answered:Tax forms for 2004 http://www.irs.gov/formspubs/article/0,,…Annette Said:How can I bring my corporation into good standing with the IRS?We Answered:Unless exempt under section 501, all domestic corporations (including corporations in bankruptcy) must file an income tax return whether or not they have taxable income. Domestic corporations must file Form 1120 unless they are required to file a special return. (Form 1120 instructions...Who must file?) Obtain the 2004-9 Forms 1120 pages 1-4 or 5 (need all pages through Schedule L, the balance sheet). Fill out page 1 entering -0- in the gross and total income lines,...

    Irs 2005 Tax Filing

    Alma Said:Has any1 heard of some kind of 2005 IRS Tax Rebate, if you filed in 2005?We Answered:You might be thinking of the fact that people who file late are more likely than the average taxpayer to be owed a refund. But there isn't anything special about 2005: if you decide to file your 2006 taxes late, you'd expect the same thing, for example. I've linked to a late filing website below.Constance Said:I filed my 2007 IRS Tax return & it is delayed because I didn't file 2005 or 2006, how long for refund?We Answered:First of all file your 2007 tax...

    Irs 2006 Tax Forms

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    Irs Electronic Tax Filing

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    Irs Estimated Tax Forms

    Stanley Said:if you owe taxes at the end of the year, including an estimated tax penalty,does the irs allow a payment plan?We Answered:Yes you can do an installment plan. File form 9465 (from www.irs.gov). I haven't seen the other question but be sure you have looked at minimizing the penaly by using seasonality (when the income was earned during the year) and other options. See form 2210.Nathaniel Said:IRS Estimated Tax...Line 1 Adjusted Gross Income...Does it include expenses?We Answered:You estimate it as if you were doing your taxes: 1. What do you expect your total income (from all sources) will be? 2. What...

    Irs Free Tax Filing

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    Irs Free Tax Help

    Timothy Said:Where can I find free, up-to-date tax information that will help me optimize the amount of money I can save?We Answered:Take a look at Publication 17 and instruction for Schedule A. The documentation gives you a good list of what you can deduct, requirements, limitations etc. www.irs.gov is the best place to start. While you are at the IRS site, you may also want to take a look at Energy Credit. If your new washer and dryer meets certain EPS standards, it might help reduces your tax liability. Since you are reimbursed for mileage you can't deduct your...

    Irs Free Tax Preparation

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    Irs Gift Tax

    Courtney Said:california gift tax questions??reporting to IRS questions? --- $17,000 cashier check to my mom?We Answered:This can not be considered return of loan. Your mom supported you when you were in college. She may have claimed you on her tax return if you did not provide more than half of your support. Also if it is loan, then your mom must charge reasonable interest. Now what you paid her is either support or a gift or a loan. If it is a support, then it is not a gift. It may be because now you are in a better financial situation,...

    Irs Gov Tax Forms

    Jordan Said:How do I know if the IRS received my tax forms and they were correct?We Answered:Here is what you need to do: 1. did you report your self employed income on Schedule C? 2. even through you have $8,000 income, how much was your expense deduction? Do you still show profit after all the deductions? 3. self-employment tax is calculated base on the net profit, not the gross. So maybe you have a loss after all the deductions. That's why you don't have to pay self-employment tax. To find out about your return status, you can call the...

    Irs On Line Tax Filing

    George Said:where can i file a complaint against HR block tax services on line?We Answered:The issue seems to be what your correct filing status should be. If the IRS is correct that HOH is incorrect you may want to be concerned about all the other years you filed incorrectly. The question concerning H&R is whether they did their required due diligence concerning your filing status. Did they ask the right question to determine what the correct filing status may have been or did they simply take the filing status previously used and apply it. Since 2005...

    Irs Payroll Tax Forms

    Ross Said:Successful reasons for the IRS to remove penalties and interest for late employer withholding tax filings?We Answered:You're late filing your returns because either you didnt prepare and file them or your payroll processor didnt prepare and file them. Your funding being late didnt have anything to do with it. If you pay them, complete the form and mail it in -- if you don't pay them, complete the form and mail it in. The only taxes that the employer must pay are the employer portions of FICA and Medicare. If you're not paying and submitting withheld taxes...

    Irs Tax Calculators

    Ken Said:? about Irs tax calculator / child tax credit.?We Answered:If your child tax credit is zero, you didn't pay any tax, so your rebate is $300 for yourself and another $300 for your spouse if you filed a joint return, plus $300 for each child under age 17. For the calculator, just put in the number (or zero) from the line it asks for.Raul Said:Is there and age restriction for the IRS tax stimulous rebates.?We Answered:No. There is no age requirement. The tax rebate is based on your 2007 earnings and Federal Income Tax liability. You would be eligible to...

    Irs Tax Debt Settlement Help

    Vickie Said:Does anyone have 1st hand experineces with unsecured debt settlement?We Answered:The answer to the question “which debt settlement program should I choose?” is very simple: NONE OF THEM… but not for the reasons that most people offer. I’ll advise you not choose a debt settlement company because - even if you find a high-integrity, ethical debt settlement company - there is a far superior alternative: DEBT RESOLUTION. The concepts are similar, but Debt Resolution provides benefits that debt settlement can not offer, at a better price. I only have room for a limited explanation, but here...

    Irs Tax Electronic Filing

    Lisa Said:if it's your first time filing your tax return you're gonna have to wait 2 weeks before the IRS send youWe Answered:If you filed electronically you will get your refund a lot faster. It all depends on how long it takes them to process it. They have to enter all your info in if you mail it. Where electronic is auto processed. Can save you anywhere from 3 - 4 weeks.Theresa Said:I e-filed my 2006 tax return through TurboTax. Do I need to send my W-2's to the IRS??We Answered:I also used Turbo tax and...

    Irs Tax Extension Form

    Clifford Said:Filed federal IRS extension, do I need to file CA, NJ, PA state extension?We Answered:PA requires you to sign, date, and send in form REV-276. NJ will grant an extension if at least 80% of the tax liability is paid. You need to send them a copy of the federal 4868 with your NJ tax return (when you eventually send it in), or send in NJ-630 by April 15th. CA returns aren't technically due until October 15th. But, if you owe tax, you got to pay using 3519 (PIT) and pay by April 16th. In fact, the IRS doesn't require...

    Irs Tax Filing Free

    Nathaniel Said:Will I be able to get a copy of my last tax filing if I go to the local IRS office?We Answered:You can call IRS and get transcripts of tax return for free. For getting copy, there are charges and it takes about 60 days. Read copy of tax return and transcripts, http://taxipay.blogspot.com/2008/08/us-i…Catherine Said:free tax filing site.?We Answered:If you are planning on preparing your own taxes, then yes, the IRS site has plenty of links to legit places where you can file Federal for free. However, if you have no idea what numbers you even need to put down on...

    Irs Tax Form 1040

    Mitchell Said:Tax withheld does not match IRS files VS entries on my 2005 Form 1040?We Answered:Welcome to the world of Turbo Tax. First of all you should resolve the problem with the IRS to stop the interest which is building each and every day. Next you should contact TT and scream Bloody Murder. If you don't get any help start sending complaints to every consumer protection place you can thing of and send a cc to TT.Ana Said:Where do I get a copy of my 1040 tax form from last year?We Answered:Here is the information form the...

    Irs Tax Form 2003

    Dave Said:Is there a way to submit Form 8606 for previous years (2001-2003) via the internet to the IRS?We Answered:No, can't do it online. However, you are in luck. IRS will accept a late 8606 even after the 3 year statute of limitations for a 1040X. You do not have to do a 1040X. Just file the 8606s.Lisa Said:If my husband owes the irs back taxes from 2003...(we filed a married but separately form in 2003)?We Answered:Just get straight with the IRS....

    Irs Tax Form 2004

    Wallace Said:IRS dispute over W2 form?We Answered:First things first, check the date - again - on the W2 to ensure it didn't get tangled up iin the wrong year. Then, take a deep breath, 'cause even if you're wrong, you can fix it. To begin, do not, no matter what, unless you take it there yourself and then take it back home, should you ever send your last original anything to the IRS. I've seen too many things go into the twilight zone that is the IRS, and not return - and not be acknowledged by the IRS. There are...

    Irs Tax Inheritance

    Jane Said:I have an inheritance coming will IRS tax me?We Answered:They will not tax you directly on your inheritance. However, any income that you make on the inheritance will be taxed.Leroy Said:How does the IRS value a business upon death of the owner for inheritance tax purposes? Gross or net sales?We Answered:Valuation of a closely held business is a sensitive issue. It involves a lot of variables and factors. But the most controversial issue is "discounting". It means reducing a certain % of the business fair market value for estate tax purposes due to lack of marketability (because...

    Irs Tax Laws

    Nicole Said:Does anyone know if the tax laws have changed recently?We Answered:Tax laws change at least every year, but not for the issue you are talking about. With agreement, your ex can claim yur son as a dependent (and he'll get the child tax credit for him, and this year the $300 from the stimulus payment) but you are the only one eligible for EIC since he lives with you - and you can take EIC even if his dad is claiming him as a dependent. But if the tax lady made a mistake and put him down...

    Irs Tax Online Filing

    Lillie Said:What if you filed online through the IRS but you never got your stimulus check or tax money back?We Answered:Is this the first time filing? Have you filed all your tax return from 2002 thru 2006? Are you sure your tax return was accepted when you filed on line? If so then contact IRS at 1-800-829-1954 or visit IRS website www.irs.gov "wheres my refund" and "wheres my stimulus" IRS also has a stimulus calculator which you input some information from you tax return and the result will be the amount you qualify for and the date to...

    Irs Tax Preparation

    Emily Said:To get child tax credit, need ITIN. But IRS asked to apply along with return submission. How do I apply CTC?We Answered:You'll need to file a paper return. If the software doesn't provide support, do the tax return by hand. You have to send the W-7 and the tax return by mail to the ITIN unit.Eugene Said:The IRS website has said they have no information on my Tax stimulus rebate. I qualify however, any answers?We Answered:My husband and I used Turbo Tax too and his social ends in 14. We had our refund direct deposited but I found out...

    Irs Tax Preparation Software

    Albert Said:whats the better software for tax preparation,h and r block or tax cut? Please advise as to why ou like the oWe Answered:I use Liberty Tax instead of any H&R block product because of the scandel last last regarding tax payment fraud H&R Block is still in the process of being sued about that scandel. Because of that doing a tax return with H&R Block is now an INSTANT RED FLAG that may trigger an IRS tax payment audit best to switch to someone else for a while and wait for the dust to settle.Sarah Said:Tax preparation...

    Irs Tax Preparer

    Carrie Said:Do I owe the IRS for a mistake tax preparer made? ?We Answered:From the point of view of the IRS you are the one responsible for the return regardless of who prepared it. Most tax preparation firms will pay at least the penalty and interest if they made a mistake. So will pay the tax also. The issue is if they are the ones that made the mistake. If they had the correct information and did not enter it into the return that would be their mistake. If they did not have the information...

    Irs Tax Problem Help

    Esther Said:Can you help me with this problem I have with the IRS?We Answered:if you didn't get it last year,just file your tax return and if you qualify this year the irs will add it to your refund automatically.no need to call them.Antonio Said:Is there any IRS or Tax problem to add someone on a tourist visa to add in your checking bank account?We Answered:if you have problems with tax, check out this site http://tinyurl.com/irs-tax-helpRita Said:I had seen this tv comercial with roni lynn deutch tax firm .she say she help you with your back tax problem ?We Answered:Roni Deutch has...

    Irs Tax Return Filing

    Hazel Said:Is there a time limit that the IRS must complete my annual tax return filed on time before April 15?We Answered:Well if you have not received your refund have you contacted IRS at 1-800-829-1954 to find out about the refund? If you have not received your refund have you changed bank accounts or address"? Have you filed all your tax returns form 2003 to 2007? Call IRS at 1 800 829 1954 to find out about your refund. If it is IRS fault for not issuing your refund then yes you will be paid interest if it is your fault then no....

    Irs Tax Table

    Hector Said:Do the IRS tax you base on how much you make dollar per dollar?We Answered:I see where you're getting confused. Don't feel badly-most everyone is confused about the US tax code! Anyway, the other poster was correct when he/she said that we're on a "graduated tax system". To further clarify, here's how it works: let's say you earned $8,000, you're single and have no dependents. The first $7,550 would be taxed at 10%, and the remaining $450 ($8,000 minus $7,550) would be taxed at 15%. Therefore, even though you would be considered to be in the 15% tax bracket,...

    Italian Tax Law

    Melanie Said:Hello, I need help with Italian Property/Real Estate Law.?We Answered:It all depends if your great grandfather is still around or not, if his wife survived him and remarried, etc. There is a whole variety of factors involved. However, you should bear in mind these two things: a) A father cannot disown a son, unless he loses his inheritance right for "indignity", that means if he attempts to kill his parent(s), or makes a false will and/or destroys the real one, or uses violence and threats to intimidate one or both his parents in order to make them change their will...

    Late Tax Filing

    Pauline Said:How much is the fine for filing income tax late?We Answered:Only a court can "fine" someone. Tax agencies charge administrative penalties, which you have to pay, but they don't result in a criminal record. The first thing she needs to do is file and pay the tax already, state and federal. That will stop any more penalties from adding up. The federal penalty for late filing is5% of the tax owed per month, up to 25%. The federal penalty for late payment is 0.5% per month, up to 25%. In addition to that there is interest, which varies but is currently...

    Learn Tax Preparation

    Misty Said:Where can I learn how to file taxes?We Answered:There are many resources available to learn about taxes. Any book store will have guides, check them out. Public library, same thing. If you want to attend class, the large tax prep firms have courses which are free or low-cost. Some of these courses have a greater emphasis on their operational aspects of tax preparation, and some of them are pure tax theory. So ask before signing up. There are tons of sites on the Internet where you can take online courses in individual income...

    Lifetime Gift Tax

    Bradley Said:If I give my children money will I have to pay gift tax now?We Answered:You can give up to $12,000 per person per year with no tax consequences, and if married, your spouse can also give up to $12,000 to that same person. If you go over the $12,000 per person limit in a year, you would have to file a gift tax return, but have a $1,000,000 lifetime exclusion that you could use excess gifts against before having to pay any tax at all. Ninasgramma, the gift tax exclusion is only $1,000,000 not $2,000,000. The $2,000,000 exclusion is for...

    Lifetime Gift Tax Exemption

    Claudia Said:Will the IRS allow me to use part of my lifetime estate exemption to "gift" $200,000 tax-free this year?We Answered:My understanding is that you can. In 2007, you can give each person $12,000 without having to file a gift tax return. If you're giving it to a couple (e.g. your son and daughter-in-law) you can give EACH of them $12,000 for a total of $24,000 without having to file a gift tax return. If you are married, your spouse can also give each of them $12,000, so it's possible for one couple to give another couple...

    Linux Tax Preparation Software

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    Live Tax Help

    Carrie Said:how much do tax deductions help if you live off of less than 1200 a month?We Answered:You are giving away money just to get 10 or 15% back in taxes? Does that make sense to you? Example: Give away $1,000 and you only get back $100 on your taxes. Do me a favor - put it in your savings. Someday, you might find yourself unemployed and by having a savings, you will depend less on the government. Leave the tax donations to the people in the high tax brackets that find it advantageous. ------ Articles of clothing? You will get a receipt. You will be able to...

    Llc Tax Preparation

    Jeanette Said:Can i get a tax return?We Answered:"Can i get a tax return?" Yes. "do i have to file a tax return and what if i am a dependent on my dad's salary?" No. But I am sure you can use your refund some where. Just remember you can not claim yourself. Your dad claim you. You can file your taxes for free: http://www.irs.gov/app/freeFile/jsp/inde… The Free File program is a free federal tax preparation and electronic filing program for eligible taxpayers developed through a partnership between the Internal Revenue Service (IRS) and the Free File Alliance LLC, a group of private sector tax...

    Llm Tax Law

    Carrie Said:How many years does it take to earn an LLM in Law school?We Answered:An LLM takes about 1 year but you have to have a JD before you can do an LLM program, a JD takes 3 years (also note you must have a bachelors degree to apply to law school in the first place. Hardly anyone gets an LLM, mostly people who plan to teach will do an LLM. The only thing you need to practice law is a JD from an ABA approved law school. The salary difference is is probably minimal unless you also have...

    Local Tax Filing

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    Local Tax Form

    Alma Said:Is the local taxes paid considered a credit or deduction on the state income tax return?We Answered:In Pennsylvania, Ohio, Delaware, Michigan and a few other states, there are local income taxes but you file a different form to the city, not to the state. In New York, both New York City and Yonkers have a local income tax, but there is a section on the state tax return for them. Your local income tax withheld for NYC and Yonkers are listed separately on the tax return, but just get added to the state income taxes withheld. In NY, the local...

    Local Tax Forms

    Arthur Said:When my business sells an item online to someone in my state (New York), which local sales tax do I collect?We Answered:You only charge your local customers meaning those in New York. But if your buyer will resell the product and they have a sales tax exemption certification (you need to get a copy), you don't charge them sales tax. Google New York Department of Revenue and go to their Sales Tax Department to find out more. They usually give out free seminars on sales tax. You may also wanna check these sites for more information: http://www.legalisticminds.com http://www.entrepreneurwiz.comStacy Said:where do you...

    Mass Tax Filing

    Freddie Said:Interstate Tax-filing Mass/CT?We Answered:You pay state tax to the state in which you live AND the state in which you work! "Not fair", you say? Well, that's OK, because your resident state gives you credit for any taxes you paid to the work state so you don't pay state taxes twice on the same money. This system is set up so that if you earned some money in one state and some in the other, each state gets its due. Seek professional help for filling out your state taxes. We do this every day and it can be complex if...

    Md Tax Filing

    Irma Said:How do I file state taxes if I am a DC resident but my employer took out MD income tax?We Answered:You need to file MD non-resident tax return.Derek Said:am I able to files taxes in MD with a WV drivers license?We Answered:If you lived and worked in MD, then you will report income on MD tax return. If you work (or work and live) in two different states, you will file tax return in both the states.Morris Said:filing taxes while living in MD and working in DC.....help?!?We Answered:You owe both DC and MD a tax return. DC gets a non-resident...

    Md Tax Form

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    Md Tax Forms

    Melvin Said:going to live in VA but work in MD. do I have to pay income state tax for both states? How to file?We Answered:You have to pay taxes in both states. However, your state of residence (VA) will normally give you credit for taxes paid to MD. You file in VA as a resident and in MD as a non-resident. Example. Your VA tax is 1500. Your MD tax is 1200. You would pay 1200 to MD and 300 (1500-1200 credit) to VA. This is a simple answer - the VA state forms for credits for taxes paid to other states will...

    Military Tax Filing

    Kenneth Said:Could not filing my W2 prevent me from going thru the military?We Answered:No. I neglected to file my return for 04 and was still fine when i joined. However once you are done with basic training you will want to make sure that you take care of it to avoid problems with the IRS further down the road. Once you are active duty you should be able to find a place on base to do your taxes for free around tax season and they will be able to do your previous years taxes as well.Wanda Said:TAX Question! Active duty...

    Military Tax Help

    Crystal Said:Active Duty Military - State Tax for CA Non Resident vs Resident HELP?We Answered:1. If your home of record is in CA then you are a CA resident. Yes, CA does not tax out of state residents serving in the Military (you). There should be a special form to do on the CA 540 that states this. 2. It is up to your Tax Preparer to determine what part of your earnings are taxable to the state of CA. Such as your Military pay is not, while your investment accounts ARE because you earned money on the account which...

    Mi Tax Forms

    Nicholas Said:Tax Rates for part year residents between NY & MI?We Answered:You will have to file in both states. As you work through the forms you will answer a bunch of questions and some of this has to do with how long you actually lived in the state. If you lived or worked in NYC then that will be a series of questions as well. You may get a refund from the state where you didn't work. If you use a tax accountant in either state ask them to research it for you. Usually, however, you have to have the information...

    Mn Tax Filing

    Jessie Said:Filing tax returns - I worked in MN and lived in WI but I paid MN state taxes according to my W-2. I NEED HELPWe Answered:Your accountant is correct. I see a few of these each year. MN and WI have a reciprocity agreement. The basically means that you only have to pay taxes in the state you live; not the state you work in. Either you didn't tell your employer that you were living in WI or they withheld incorrectly. Either way, you will get everything back from MN but have to pay WI. ...

    Mn Tax Forms

    Irma Said:i need some tax forms for the last two years?We Answered:LOL, done that myself many times. 2008 -> http://www.irs.gov/app/picklist/list/for… 2007 and prior -> http://www.irs.gov/formspubs/article/0,,… I print 'em out at home, fill 'em out in blue ink, and mail them paper mail to the IRS, old school :) You can't e-file past years. If you are revising a tax form you already filed, you need a 1040X. Which doesn't have a year, you use the same 1040X no matter which year you're revising. (drove me nuts trying to find a 2007 1040X :) Anyway, bon...

    Mobile Tax Preparation

    Travis Said:Mobile Tax Preparation Business?We Answered:Go for it and run your business how you want to run it!Debbie Said:100 days upa govt on track!!!!!....???We Answered:Thanks Ms. ap. I am going to ignore several users comments as just ranting, and answer a few as a supporter of UPA government and as an Indian Citizen. I will write what I think is going on right in government and what is wrong in government according to me, what should be done to improve. These are strictly my view points. -- 100 day agenda was not set to attract voters because this was set post elections....

    Monetary Gift Tax

    June Said:Tax question: If I receive a monetary gift from a non-US citizen, do I have to file it on my US tax return?We Answered:Gifts received by an individual are never taxable. You don't need to worry about the givers country of residence because you received a gift not income.Harry Said:What is the maximum $ amount you can receive as a monetary gift without having to pay a gift tax?We Answered:Gifts are not taxable income. But they may be reportable to the IRS. This is to prevent people from giving away all their assets before they die in order to...

    Nc Tax Filing

    Marshall Said:My brother is moving to South Carolina for a job in Charlotte, NC. What are the tax implications of this?We Answered:Your brother will have to pay North Carolina taxes on all the income he earns in North Carolina. He will also have to file a tax return in South Carolina and report the income he earned at his job to South Carolina. However, he will be entitled to a credit for the North Carolina tax he paid. So, say he earns $50,000 in North Carolina. Let's assume that North Carolina taxes income at 6%. Your brother...

    Need Tax Help

    Travis Said:Need help on LLC Income and Estimated Tax Payment for Members.?We Answered:An LLC is a disregarded entity as far as taxes are concerned. If it's a multi-member LLC, it has to file a US Partnership return on Form 1065 and distribute Schedule's K-1 to all members. The members are responsible for paying taxes on the taxable amounts listed on the K-1s, whether they receive any distribution of income or not. It's up to the members to determine if they need to make estimated tax payments. The LLC should provide some sort of periodic information on what the...

    New Tax Laws

    Darren Said:As a Canadian citizen taking up a new employment in the US, how would tax laws in both countries affect me?We Answered:The two questions have different answers. (1) A Canadian in the US. Under the income tax treaty between Canada and the US, a Canadian who lives ('resides') and works in the US will be taxed only by the US. (2) An American in Canada. However, under the same treaty, an American who lives ('resides') and works in Canada will be subject to tax by both Canada and the US, but it will not be a...

    New Tax Laws For 2006

    Gina Said:Can I deduct sales tax on a new car in 2008?We Answered:Maybe. For the last few years you could if you itemized, and if you chose to deduct sales tax rather that state and local income tax. That expired last year, but Congress might extend it again - they did last year. Congress so far hasn't finalized changes to tax laws for 2007 if they plan to make any. If they extend it for 2007, it's anybody's guess whether they would again for 2008.Leslie Said:can anyone make sense of the new car road tax laws?We...

    Nj Sales Tax Filing

    Allan Said:when and how can i see my nj business sales tax id???We Answered:you have to apply for it and then you would know what is is because they will send you info in the mail - you CAN then file and pay the sales taxes you collect online the number is usually your FEIN and 000 on the end, but you have to actually apply for itRodney Said:My corp in only located in NY, but we are 'registered' in NJ as well. Do we have to file a tax return in NJ?We Answered:You must be registered as a foreign corporation...

    Nj Tax Filing

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    Nj Tax Form

    Arnold Said:I live in NJ and work in NY. Its tax time. Which form to use so I dont get taxes twice?We Answered:If you itemized deductions last year you'll need to claim that tax refund as income. If you dindn't itemize last year, you can just toss it. If you live in one state and work in the other, you'll have to file state returns in both states. Get your Federal return out of the way first. Then file a non-resident return in NY next, listing only the NY income. Then file a NJ resident return listing...

    Nj Tax Forms

    Lynn Said:Why does NJ tax rental income made in a different state?We Answered:You get taxed on the income you make as a resident living in NJ. You lived in NJ when you earned that income.Francisco Said:NJ Tax Question. Do I pay taxes on earnings when I lived in another state?We Answered:Generally, you should pay taxes in the state where the income was earned regardless of where you were actually living. Professional athletes may have to file in many different states if they play games in each state. I have always lived in MD but almost had to pay taxes in...

    Nj Tax Free Bonds

    Sherry Said:what is a stock that is listed on the nyse AND has a market cap of less than 200 million$...?We Answered:Ticker Exchange Market Cap (millions) Company Name Report name: apr20april212nd apr2may11may 19 Length of time: 90 days180 days1 year ADF NYSE 162.93 ACM MGD DLR INC AMO NYSE 52.7 ALLIANCE ALLMKT ANL NYSE 192.36 AMER LAND LEASE ARL NYSE 87.34 AMER REALTY INV ASAL NYSE 3.13 ASA INTL LTD ASG...

    Nys Tax Form

    Bonnie Said:if you do not use itemized deductions on your 2008 federal tax return do you have to report NYS Form 1099-G?We Answered:If you itemized LAST year, and claimed State income tax paid, you must report any refund received. If you did not receive a Federal tax benefit for state income tax paid, you don't report the refund. See page 22 of the instructions for Form 1040.Jimmie Said:I just received my first NYS-1 Return of Tax Withheld form with a check, I'm 17 and I don't know what to do?We Answered:NYS-1 is the form which employers in NY...

    Oh Tax Forms

    Sally Said:What should I do about this oh so grievous tax problem?We Answered:Your return must be postmarked by June 15th. And for god's sake don't click on the link of the guy above me. A six year old child could pick that out as a spam site.Sam Said:If I make 24K a year and Im married with one child what would my tax break be?? Oh yea my husband makes 19K?We Answered:The baby won't affect your taxes for 2008 since he/she wasn't born until 2009. Here's a rough outline of your 2009 taxes for married filling jointly, note that several of...

    On Line Tax Filing

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    On Line Tax Help

    Stella Said:In what line in the 1040 tax form should I look on when applying for financial aid for this question: ?We Answered:There are several lines in the FAFSA questionnaire that asks for information from the tax return. Read the fafsa........if the question is asking for adjusted gross income it will say form 1040....line 37. ... taxes paid....form 1040.....line 57, etc. If the line from the tax form is blank or a negative...put a zero on the FAFSA form. Let me know if you need more help....

    On Line Tax Preparation

    Sue Said:What is a decent on-line tax preparer's course?We Answered:Dear Patsy: Look at Kaplan or Gleim. If nothing suites you look at the NAEA web site(National Enrolled Agents Assoc.)Ricardo Said:Are my S-corp Distributions supposed to be taxed on my personal tax return?We Answered:Amounts on line 16 of the K1 would be A tax exempt interest income B other tax exempt income C nondeductible expenses D property distributions E repayment of loans from shareholders look at page 12 of these instructions to see what if any would be taxable from line 16 http://www.irs.gov/pub/irs-pdf/i1120ssk.… Income from a S corporation flows through to the owners or shareholders of the...

    On Line Tax Return Filing

    Nathaniel Said:How can I find out much I got on my tax return last year?We Answered:Topic 156 - Copy of Your Tax Return – How to Get One If you need an exact copy of a previously filed and processed tax return and all attachments (including Form W-2), you should complete Form 4506 (PDF), Request for Copy of Tax Return, and mail it to the address listed in the instructions, along with a $57.00 fee for each tax year requested. The check or money order for the fee should be made payable to the "United States Treasury". Copies are generally available...

    Orange County Tax Lawyers

    Victor Said:Do you think cannabas should be made legal and if not why?We Answered:It should be legal because prohibition does not work. It didn't work 60 years ago, and it cannot work now. 60 years ago, when alcohol was made illegal, the mafia grew from a minor cottage industry into a multi BILLION dollar enterprise. Today we have gang wars and violence in our streets over drug profits. Bruce J. makes an excellent point. With a profit motive of that magnitude, prohibition drives police, lawyers, and judges into crime. I have listened to drug enforcement agents...

    Order Tax Forms

    Stanley Said:When filling out tax forms for your employer, what number do you claim to have more taxes withheld?We Answered:The smaller the number, such as zero, the MORE taxes/withholding are taken out. The bigger the number, the LESS taxes/withholding are taken out. I always claim zero in order not to owe taxes come tax time. My paycheck is smaller, but it is better than having to come up with money to pay taxes in April!Rosa Said:How to order the tax publication?We Answered:All IRS forms and publications are available both for downloading or for ordering paper copies to...

    Paycheck Tax Calculator

    Earl Said:Claiming 2 allowances, how much tax will be withheld from my paycheck?We Answered:You forgot to mention the frequency of your paycheck. Paycheck city (http://www.paycheckcity.com/ ) has a good payroll calculator on it. Also, the tax withholding is different in nearly every state (Alaska, Wyoming, Washington, Texas, Florida, South Dakota, and Nevada don't have personal income taxes. New Hampshire and Tennessee don't tax earned income.) It sounds as though your itemized deductions will be lower than your standard deduction of $5,700. Rent is not a deduction on your federal return. To calculate your 2009 tax liability, you can use the calculator here:...

    Paye Tax

    Melanie Said:will my paye tax be lower if i have national insurance?We Answered:A National Insurance number is nothing to do with tax. Did you give your employer a P45? if not, you need to ask him for a form P46. You sign this to say this is your only or amin job and will be put on emergenc y code. If you have come from abroad you will need to get a form P86 from www.hmrc.gov.uk and send it to your tax office. We are now too near the end of the tax year to get you on the right code,...

    Payroll Tax Form

    Clifton Said:Why cant I claim "exempt" on my w-4 tax form?We Answered:you can claim what ever you want on your w-4 form but you have to claim the proper withholding allowances on your taxes. according to my payroll accounting book "employees may claim exemption from incme tax withholding if they had no income taix liability last year and expect none the current year. Married couples filing jointly with combined wages up to $17,500 incurred no tax liability. employees may NOT claim exemption from withholding if (1) another person claims the employee as a dependent on his/her tax return AND (2)income...

    Payroll Tax Forms

    Lillie Said:Can I file tax exempt anytime. Or is there a warning I have to give my company payroll.?We Answered:If it taxes a week for your payroll dept to change the payroll taxes, it takes them a week. Do you meet the requirements of filing exempt? If so, why didn't you update your W4 at the beginning of the year? If you fraudulently, claim exempt and end up owing money you can be penalized.Justin Said:Why does my payroll check say tax block in the federal withheld section?We Answered:Tax Blocked means somewhere along the way, your payroll was coded to...

    Payroll Tax Help

    Rose Said:If wealthiest 2% spend 1/3 of the money how is Obamas tax increase going to help the economy?We Answered:it helps by destroying the economy so socialism can take over.Sergio Said:Can you explain to me how reducing payroll taxes will help the economy?We Answered:Also, prices are actually falling since last summer. Yeah, food prices are not falling very fast, but since the price of gas and oil has fallen since September, the prices of other goods have also fallen since oil is an input in the production and transportation of almost all goods and services. Reducing payroll taxes is...

    Pa 40 Tax Form

    Ronald Said:PA Tax question regarding capital losses. Details below....?We Answered:You're not missing something - PA doesn't allow you to subtract net capital losses, or to net out one class of income against another. So yes, they essentially go to zero - you can't carry them over, and they don't reduce your tax liability. Why do they ask then? I suppose so they can match your return up by computer against your federal totals.Marcus Said:PA state tax capital loss question?We Answered:Yes, that's correct. Look at the instructions on line 9 of the form itself, the total line....

    Pa Tax Filing

    Angel Said:local tax filing for PA--I have a 1099R from retirement distributions??We Answered:NO NO NO!!!!!!!!!!Sonia Said:Lived in PA in 06 and worked in NJ from 10/06 - 12/06. Should I file a 2006 NJ state income tax return?We Answered:Totally what Bostonian said! You are using your new address on your filing, but for the '06 tax year, your State is PA, Full year resident. You didn't move in or out in '06. good luck & blessJohnny Said:is there such a thing as dual residence when filing your income tax?We Answered:Your spouse is a PA resident so must file a PA return....

    Pa Tax Form

    Sylvia Said:I need to know what a k-1 form for PA state taxes refers to?We Answered:Probably refers to Schedule K-1 of IRS Form 1041, which must be given to the beneficiary of an estate or trust (with a copy to the IRS). It shows the "beneficiary's share of income, deductions, credits, etc." from the estate or trust. The beneficiary then uses this information when preparing his/her own tax return.Rodney Said:Which PA state tax form should I use?We Answered:PA-40 is the state form you'll need. You can look at the PA-40 schedule SP also to see if you...

    Pa Tax Forms

    Ralph Said:Do tax forms have to be printed in red ink?We Answered:It depends on the tax form - most forms need to be laser printed in black or you use the original form the government sends you. Ink jet ink smears if it gets wet or damp, so the government prefers that you don't use ink jet printers...Rosemary Said:where can i go on line to print out state tax forms?We Answered:http://www.revenue.state.pa.us/revenue/c… Here is the link directly to PA taxation, to access forms. Laura H – H&R Block – Senior Tax Advisor 5 **This advice was prepared based on our understanding of...

    Personal Tax Preparation Software

    Marvin Said:How much for H and R Block's personal home and business preparation in their office?We Answered:Judy is incorrect. TurboTAx.Com is not free. It's free to USE, but not free to file. I used TurboTax.com and got to the end and it asked for payment. I then purchased HRBlock's Tax Cut Software for HALF the price of TurboTax.Com and it came up with the same numbers. As for how much HR Block charges when you go there, it's based on a base amount for the 1040, and an additional amount for any other forms. There is...

    Practical Tax Lawyer

    Dawn Said:is there any income tax law counsel in kolkata which provide practical traing to the law student ?We Answered:The names of Incometax Lawyer ,you can see in the Telephone directory and tata yellow pages and inturn you can meet him.But as rergard the real TRAINING ,I doubt ;;;the counsel are not that much kind to cffer such things without any genuine or personal reference.Yes it is bitter fact.However considering the situation you should atleast try and make yourself clear before the attorny.Who knows ;;;God may help you!!!!!!Norma Said:How can I become a lawyer and...

    Printable 1040ez Tax Form

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    Printable Tax Form

    Terry Said:Will I get my tax refund if I messed up?We Answered:It may be possible to correct, I suggest you speak w/ someone @ the IRS &/or look into filing an amended return, Form 1040X, available on the IRS website in a printable pdf doc you can mail to the IRS to correct/amend many things on the original tax return filed for the year. I haven't dealt with your particular refund status issue, but the website, the IRS or another tax pro may confirm.Ernest Said:Where can I find printable city of Port Huron tax forms?We Answered:You can find them...

    Professional Tax Preparation

    Bertha Said:Looking for a good Professional Income Tax Preparation Software, where I can transfer 2006 returns to 2007 re?We Answered:If you do want professional software, I happen to like Accountware, so look into that. If, on the other hand, you're looking for good software to do your own return, and a few friends, look at TaxCut. TaxCut will accept TurboTax files, and I think some others, so if you don't like the software you used last year, you can use TaxCut and not have to worry- all of yur necessary information will transfer.Natalie Said:I have an interview as a Trainee...

    Professional Tax Preparation Software

    Daryl Said:What is the best software for tax preparation?We Answered:If you're going to be doing this professionally, you'll need professional software. You can't use the consumer products for commercial tax prep operations. Most of the major tax software companies publish professional tax prep software. TaxWorks is pretty popular but by no means the only player. For bookkeeping software, both Quickbooks and Peachtree are hard to beat. Quickbooks is easier to get up and running but Peachtree tends to be more customizable. If you go with Quickbooks, it integrates with Intuit's Pro Series tax software quite nicely though most accounting packages...

    Professional Tax Preparer

    Linda Said:How can I find a good tax professional in Mass?We Answered:Look in the yellow pages under "Tax Preparers" and pay attention to those with "EA" after their name. Unlike CPAs, whose primary training is in "accounting rules", Enrolled Agents are primarily trained in the rules of taxation. Also, EAs have the highest requirement for tax specific continuing education. One becomes an EA by passing a difficult 2 day test or by working as an Officer for IRS. Unlike unenrolled preparers wo, except in CA & OR are under no state oversight, EAs are subject to oversight by Dept of Treasury's...

    Professional Tax Preparer Software

    Jim Said:Can anyone tell me if intuit (Turbo Tax) has professional tax software?We Answered:Yes. TurbotaxShannon Said:About to start work as a tax preparer.?We Answered:Congratulations. This is going to be a challenging 2008 tax season. How current are you with the current tax law changes as you did not provide any information about your background??? Best things to do are: 1. Pull up the various tax forms to familiarize yourself with them 2. Learn the software that your firm has and KNOW how to use it 3. Take a Tax seminar that highlights the 2008 tax law changes. The seminars are available through local state and...

    Property Tax Capital Gain

    Rita Said:How to save capital gain tax on account of property sold today purchased 29 years back. I am working woman?We Answered:Section 54 - Long-term capital gains on sale of residential house invested in purchase/ construction of another residential house (subject to certain conditions and limits). Section 54EC - Capital gains on transfer of long-term capital assets invested in specified assets (bonds). From 1.4.2006, investment can be made only in notified bonds of NHAI and REC. Section 54F - Capital gains on transfer of long-term capital asset other than residential house, invested in residential house, subject to certain conditions. New house should be purchased...

    Property Tax Laws

    Claude Said:Business personal property tax for leased business equipment and software?We Answered:That depends entirely upon local laws and the terms of your lease. Most commercial leases are written such that the lessee pays all taxes and unless local law bars that practice that contract stipulation would stand up in court. As to computer software, most localities only tax tangible personal property so software GENERALLY isn't taxed. However that is a local issue as well, subject to the interpretation of local laws and the terms of the lease.Ernest Said:Anyone familiar with property tax laws in Pennsylvania?We Answered:Your taxing authority (County...

    Property Tax Lawyer

    Terri Said:What are the tax implications of a property placed in a irrevocable trust?We Answered:My suggestion is that you don't go looking for an answer in this website. You should deal with the attorney. There may be a tax liability depending on how the trust was set up. I have a trust for my kids and my second wife when I kick the bucket. The only thing that I do know it that it will not go into probate here in California. I think that it may go tax free to my second wife, but...

    Property Tax Lawyers

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    Puerto Rico Tax Law

    Robin Said:Can people from Puerto Rico come to the US freely?We Answered:Puerto Ricans are under the US law since it is our Commonwealth. They are considered US citizens. They may come live in the US without a passport or visa. They do not pay taxes either. They do not cast ballots for president, but they do get to elect a resident commissioner to sent to washington to serve in the US House of Representatives. But he does not get a vote in congress. And by Puerto Rico being a Comonwealth they are bound by the Laws of the United...

    Quarterly Tax Forms

    Willard Said:I file quarterly tax forms for my small sole proprietorship. Do I need to file again at the end of the year?We Answered:I would need a little more info to answer you properly. First, what are you filing quarterly? Sole propietorships are required to make quarterly estimated tax payments, quarterly sales tax payments, and if there are employees quarterly payroll tax payments and quarterly unemployment. Then at the end of the year you file a schedule C (a separate one for each business) and possibly a Federal 940 for federal unemployment for employees if any. The...

    Rental Property Tax Law

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    Ri Tax Forms

    Nora Said:Do you pay more taxes to work in CT or RI?We Answered:CT or RI ? CT income $20K=$137 $30K=$811 $40K=$1621 RI income $20K=$751 $30K=$1126 $40K=$1744 All numbers based on single filing status. Look at both dept of revenue web site as there are other factors i.e. tax holidays etc. From my experience the CT forms are more user friendly(small factor). This advice was prepared based on our understanding of the tax law in effect at the time it...

    Sales Tax Exemption Form

    Willie Said:How can we claim the refund of cst from sales tax dept against C form?We Answered:hi, As per section 8(1)(b) of CST Act, If the selling dealer pays CST @ 4% or lower (if applicable), he has to produce proof to his sales tax assessing authority that the purchasing dealer is eligible to get these goods at concessional rate. If the basis of a claim for credit or refund is that a cus- tomer gave you an exemption certificate♦ after you remitted the tax with your return, you must send copies of the ex- emption certificates, invoices and credit memoranda involved in the claim. If...

    Sales Tax Exempt Form

    Laura Said:How do you figure out total gross sales and services on a sales tax form?We Answered:not familiar with your state form, whichever it is in Calif. gross sales are shown and there are deductions from that figure that need to be shown, ie, non taxable sales, labor, and etc and that is subtracted from the gross our sales tax is 8.75% for the state with some counties with an additional .5% I gather you don't keep your receipts identified as to what is taxable and non taxable, if I know the tax collected, I divide by .0875% to find taxable salesHarvey Said:What form does...

    Sales Tax Exempt Forms

    Enrique Said:Should I charge sales tax for creating a website and other graphic products in Wisconsin?We Answered:If the website design and graphic products created are transmitted electronically, such as via email, from a computer to a server that can be accessed through the internet, or via modem from computer to computer, the designs would not be considered tangible personal property in Wisconsin and would therefore not be subject to tax. Additionally, these services are not among those specified as taxable in Wisconsin. However, the entire charge for the creation of a website or other graphic product would be...

    Sales Tax Forms

    Patrick Said:Why is their so many damned forms to fill out for taxes? Why cant we just pay a sales tax? why so cofusing?We Answered:Because the tax system gives power to the politicians and they are all about keeping power. There are breaks for real estate ownership, having kids etc. The politicos can campaign on "taxing the rich", "reducing the burden on the middle class", etc. etc. They can also give credits to the poor and redistribute taxes paid by others to those that have paid none. Since there are alot of poor people, thats alot...

    Sales Tax Help

    Paul Said:How do you find a sales tax on something that is 966.69. Please Help!?We Answered:Multiply the $966.69 by whatever the sales tax rate is (for example 7%) 966.69 x .07 = 67.67 (rounded up to the nearest penny) then add the 966.69 to the 67.67 = 1034.36 Another way to do it is mulitiply 966.69 x 1.07 = 1034.36Jeffrey Said:Do any one can help about drop shipping and sales tax?We Answered:You collect and render sales taxes for all goods delivered in your state, any other state where you have a nexus, the drop-shipper's state, and any state where the drop-shipper has a...

    Sales Tax Laws

    Rene Said:Do I have to pay sales tax on a private car sale in Washington state? How?We Answered:Yes, you do have to pay sales tax. On the back of the title there is a place to write the price. When you go to DMV to register, they will see the price and collect sales tax. Some people write lower price to save sales tax. Search web for other info.Michele Said:What is a national sales tax and why is it bad?We Answered:A national sales tax would be similar to the sales taxes you pay in most states except it would be...

    Self Employed Tax Filing

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    Self Employed Tax Help

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    Self Employment Tax Help

    June Said:Lifetime learning Credit and Self-employment tax - please help?We Answered:No, the educational credits cannot be used to offset self-employment taxes. They can only be used to offset income taxes. Only the refundable credits such as the Earned Income Credit, Additional Child Tax Credit, or Recovery Rebate Credit can be used to offset self-employment taxes.Tina Said:some one who knows tax info i need help on self employment!?We Answered:In the attached information about 1040 Estimated tax payments, there is a worksheet that may help you estimated how much tax you will need to pay on a quarterly basis. When you...

    Starting A Tax Preparation Business

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    Starting Tax Preparation Business

    Henry Said:How do I find funding to start an income tax preparation business?We Answered:Have you looked into small business loans? I believe there is a lot of information out there regarding entrepreneurship and how to gain low interest funding from the government or from financial institutions in order to successfully get your business started....

    Student Tax Filing

    Clinton Said:Filing tax return for a student who makes less than $2000?We Answered:I am not sure of the exact amount a person should earn or recieve before reporting it but that is such a small amount and oftern good intentions result in owing fees or late fees that i would not worry about it since she will not be recieving a return amount.I am all most certain that a larger amount must be involved before reporting is legally necessary.If you are really worried go the the IRS website and look up tax questions or call the listed phone numbers.Neil Said:Can...

    Student Tax Form

    Mary Said:What tax form should F-1 student file?We Answered:Students on an F, J, M or Q visa are treated as Non-Resident Aliens for the first 5 years of that visa status. If your income exceeds the filing requirement amount then you must file Form 1040-NR or 1040NR-EZ. The filing requirement amount for you is the personal exempton amount or $3,400 for 2007. Your income was less than that so there's no need to file unless taxes were withheld from the interest you earned on the money market account. Form 8838 has nothing to do with you. You...

    Student Tax Help

    Ricardo Said:Tax help needed for student with lots of status changes?We Answered:you should file your income tax as a non resident alien.Carrie Said:Tax help needed for student loans and finacial aid, on tax refund???We Answered:If any of the grant was spent on other things than tuition and fees, that would be taxable income to you. Other than that, you don't report the grants on your tax return. And you don't report the student loans.Nancy Said:Can someone help with a student loan/tax question?We Answered:careers.scienceontheweb.net - it provides some tips about applying to US federal and state grants for college...

    Study Tax Law

    Ian Said:Study Law?We Answered:A lot of questions so I will answer them one by one. 1) In the U.S. there are technically two types of lawyers, criminal and civil. Criminal lawyers practice in the area of prosecution or defense, covering many areas from high priority felonies to traffic and juvenile issues. Civil attorneys practice in many areas such as domestic law, tax law, corporate law, personal injury and so forth. Some attorneys practice in general law which pertains to both criminal and civil issues. Often lawyers specialize is just one area of law. So the answer to this question is that while...

    Tax Advice Capital Gains

    Carrie Said:I invested in gold ornament jewellery 3 years back I sold it now for a profit.Is any capital gains tax payable?We Answered:Yes. Capital gain tax will be assessed based on your tax bracket . For tax deferred and tax exempt investments try to get some baseline knowledge by doing a google search or going to a good library. You can then discuss more pointed solutions that apply to your specific situation. I am afraid that getting general advice might end up hurting you.Daniel Said:Can I sell my stock back to my privately held C-corp as a way to pay...

    Tax Amnesty Lawyer

    Danny Said:Why should we let illegal aliens from Latin America and Asia have amnesty?We Answered:Every person for illegal immigration should be forced to compensate these innocent people who have had their social security numbers and identities stolen by these illegals who invade our country with no care who they hurt. They should have to not only compensate the money lost from their social security accounts after they are zeroed out once the fraud is detected, but every last cent the victims had to pay taking time off work, every cent that went into photocopying documentation, every cent that went towards...

    Tax Amnesty Lawyers

    Freddie Said:Has anyone actually suggested amnesty?We Answered:Actually no one has seriously proposed it yet and I don't think they will. Amnesty is complete forgiveness without any consequences. The last link at the bottom talks about amnesty but even this is not true amnesty. The closest thing would be Obama saying he could issue an executive order for deferred action for non-criminal cases which would stop all non-criminal deportations but it does not give anyone a pathway to citizenship. Misleading facts have been presented on both sides. Obama indicated he has the ability to use an Executive order for deferred action...

    Tax And Inheritance

    Ramon Said:When do you have to pay inheritance tax ?We Answered:There are no Federal inheritance taxes. Do NOT report the inheritance on your Federal tax return. Any interest that the CD earns AFTER his death is taxable income to you but the principal amount is not taxable. If there are any Estate taxes, those would be paid by the estate. However if the CD was held in a tax-deferred account such as an IRA, then it would be taxed as ordinary income when you withdrew the funds since the money would have gone in tax-free. A few...

    Tax Basis

    Isaac Said:How do you determine the tax basis in calculating capital gain when selling furniture or household goods?We Answered:The tax basis of the item is the fair market value at the time you acquired it. Modest gifts are not taxable. If you have no receipts, make your best guess as to when the item was acquired and what its fair market value was when you acquired it, then date and sign it and keep that paper with a copy of your filed tax forms.Raul Said:Is it better to have your health insurance deductions taken out on a pre-tax or post-tax...

    Tax Code Calculator

    Sally Said:How do I work out the right tax to be deducted from my salary?We Answered:use a code calculator just been on one and it says you should get £575 after tax and national insurance sounds like he is trying to put you on emergency tax but even that would give you more than 400Janice Said:Paying tax on wrong tax code? Who is responsible for changing this? - my employer or HMRC?We Answered:Unfortunately you are responsible for sorting out code number problems. Who did you give form P45 to? A manager? Would suggest you follow up, and ask who they gave it...

    Tax Credits Help

    Marcia Said:Tax Credits Help!!!??!!!?We Answered:Hi, How old is your son? I was given a lot more money for my son up until he's 1st birthday then it dropped, I can't remember if it was child benefit or working tax credits but I know something definitely changed after he was one. Hope this is of some help, sorry my memory is awful, my little boy's nearly 5yrs now so it was a while ago! lol.Ethel Said:Getting Working Tax credits but NOT free prescriptions. I think they are entitled. Help?We Answered:Not everyone on working tax credits is entitled to...

    Tax Credit Forms

    Geraldine Said:Is Child Support the same as child tax credit?We Answered:There are two questions on the fafsa regarding child support. Child support RECEIVED and child support PAID. The most common form of child support is given or from an ex-spouse with whom the parent has a child with. So no, child support is not a tax credit. Child support PAID is a payment that a biological parent makes to the custodial parent when they divorce. Example: Mom and Dad divorce and the kids go to live with Mom. So Dad has to pay 500 a month...

    Tax Credit Help

    Dean Said:New home buyer tax credit? any programs to help me get that new home?We Answered:No there are no programs to help get you into a new home. The tax credit is only worthwhile for people who can afford a new home. If you were not considering a new home before the tax credit was offered and have not saved any money for a down payment, then you should not try to get a new home now. It does not sound like you are in the position to buy a new home at this time. It would be a mistake...

    Tax Credit Help Line

    Pedro Said:Can anyone help me fill out a 1040x form for the homebuyer's tax credit?We Answered:First of all, you must have an original tax return the way you filed it first time. Then, you need to save a new return (save as) original return plus first time home buyer credit (form 5405). So, now you have 2 returns saved in your PC. The original and the new one. Next step, open the second return and open form 5405. Fill it correctly, put all data needed. Then open new form 11040X) ((In 2009, the entire procedure of...

    Tax Cut Capital Gains

    Bill Said:I invest in the stock market. Why should I vote for Obama considering his proposed capital gains tax hike?We Answered:simple. if you can afford to invest in the stock market, then you can afford to pay a hike in the capital gains tax. additionally, are you suggesting that the trillion dollar deficit due to this war and the tax cuts for the rich that "w" gave be put on the backs of the poor and middle income people only? i think not. so now you've been enlightened.Ida Said:When Bill Clinton cut the capital gains tax rate from 28% to 20%, did THAT pay...

    Tax Exemption Form

    James Said:On a state income tax return form what is meant by "personal exemption?"?We Answered:On Illinois and federal tax returns, and I bet on the other states as well, an exemption is the money you can deduct from your income for each person on the return. 1 for the taxpayer (2 for the 2 taxpayers if it is a joint return), and 1 for each dependent.Rita Said:What tax form should be used for exemption?We Answered:If he's here on an O1 visa he should have an SSN. This SSN requires either a work permit or endorsement by DHS to...

    Tax Exemption Forms

    Lois Said:can we get tax exemption towards premium paid for my brothers insurance?We Answered:You can pay your brothers insurance premium. But you cannot claim the tax benefit for your brothers insurance premium paid by you. But your brother can claim it as exemption treating the premium amount paid by you as loan for him.Michele Said:How do I apply for student exemption for council tax in Newham?We Answered:In my experience of being a student, I requested a council tax exemption form from the council, filled it in and sent it off together with a letter from my college. The...

    Tax Exempt Forms

    Kyle Said:When Focus on the Family forms a political party shoud they lose their tax exempt status?We Answered:Any tax exempt entity that either allows political speakers at their gatherings or forms a political body within the entity should have their tax exempt status revoked.Vanessa Said:Ok, so i just filled out some forms at sears, and on the tax form it asked do you want to claim exempt? Yes orWe Answered:something i learned from my parents: when filling out the tax forms, always put a -0- so that way, come tax time, u GET more back from the irs....

    Tax Exempt Forms For

    Elmer Said:Is this organization eligible for tax exempt status?We Answered:What you may want to do is to download Form 1023; you may qualify as a Public Service organization: First of all see if the requried form to file as a not -for profit corporation in your state. In california, there is a corresponding form to Form 1023. Gather your team and hold your meeting and record the minutes f the meeting. select your interim Board of Directors and Executive Officers. Focus on what the mission of the organization then the...

    Tax Exempt Law

    Ron Said:What is the bankruptcy law or code in Missouri to exempt my 2007 Tax Refund?We Answered:There is a Schedule of Exempt Assets on your bankruptcy petition. You should include your 2007 tax refund stating the amount as "if any" unless you know the actual amount. Do you have an attorney? Ask him and get an answer from someone who has all the facts and knows your state laws; that's what you pay him for.Katrina Said:Exempt Interest on mutual funds are tax free, but would AMT affect all shareholders?We Answered:Exempt interest mutual funds yield exempt interest and...

    Tax Extension Filing

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    Tax Extension Form

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    Tax Filing Assistance

    Lance Said:Is it necessary for people who work to pay off their Public Assistance grant to file an income tax return?We Answered:If the individuals make enough to have a filing requirement, they must file. For single adults, that's $8750 or more in one year.Lee Said:is there any place i can go to for assistance filing tax?We Answered:There is something called the Community Volunteer Income Tax Program. There are volunteers that are trained to help people with their tax returns. They only help with simple returns for low income people. Low income isn't clearly defined. You'd qualify....

    Tax Filing Canada

    Gertrude Said:I came to canada on work permit and started work in January 2008 do I need to file income tax canada?We Answered:Ignore the answer above. Like so many answers in this category, it involves US tax law, not Canadian law. You will of course have to file a Canadian tax return, but Canada's tax year runs from January to December, with final returns due by April 30 of the following year. Therefore, you will file NEXT year on this income earned in 2008. I'd advise you to find a decent tax lawyer to handle your affairs, which, if simple,...

    Tax Filing Dates

    Rene Said:New York state quarterly sales tax filing dates?We Answered:New York's quarters are off by a month. For the quarter June 1, 2009 thru August 31, 2009, the sales tax return is due 9/21/09 (next Monday).Debra Said:What are the income tax return filing dates for pvt and public ltd co's in india?We Answered:last date is 31st october various due date under income tax India can be downloaded from the link given below http://simpletaxindia.blogspot.com/2007/… or download auto reminder for various dates under various act in India. http://simpletaxindia.googlepages.com/Du…Fernando Said:I need to know the last date for filing state tax in Oregon?We Answered:Your Oregon state tax return is...

    Tax Filing Deadline

    Norma Said:If filing 2007 tax return after deadline, is a person excluded from getting it?We Answered:Returns need to be filed by October 15 to guarantee you get your stimulus payment, because the rebates have to be mailed by December 31.Kelly Said:So, is it true that the deadline for filing this years Federal Income Tax is MIDNIGHT April 17th?We Answered:If your return is filed in a paid tax preparers office by midnight on the 17th....efiled by 2:30 a.m. on the 18th it is considered timely filed. This however only the deadline by the hour for returns going through Fresno CA. There are...

    Tax Filing Extension

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    Tax Filing Extension Form

    Cathy Said:Where can I find the e-File form for an extension to 2009 tax filing?We Answered:Sorry, but since today's date is May 17th you have missed the extended deadline to either file or ask for an extension. You had to file Form 4868 BY MAIL and it had to be postmarked by May 11, 2010 to be valid. Once the deadline passes there is NO WAY to file for an extension, either electronically or by mail. While it is possible to e-file an extension application, that had to be done by April 15th. For those in the Northeast...

    Tax Filing Form

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    Tax Filing Forms

    Gilbert Said:Does ebay send the sellers tax forms for filing tax return?We Answered:as yet I don't believe EBay issues 1099's for your income, that is up to you however, they are considering a way they can report income you make on eBay, this is eventually coming you file Sch C and SE on what you have kept record of your income and expensesChris Said:Why are people prosecuted for not filing tax forms?We Answered:It's voluntary only if you do not have any forms of income which can be taxed. In the Disclosure Form applicable to forms 1040 etc., they specifically state: "Our legal...

    Tax Filing Free Software

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    Tax Filing Help

    Ida Said:Need help filing a Louisiana Non Resident Tax Form. Please help.?We Answered:The ratio would be 4,000/11,000 = .3636363636Jackie Said:I am filing Indiana state tax forms right now and I am in need of help. How do I include me working in Texas?We Answered:You need to declare ALL income on your home state tax return. So all income from Texas has to be included.Tiffany Said:i need help filing for my state tax returns. what options do i have? i am a nonresident alien?We Answered:I would suggest getting an accountant to help you. They aren't too expensive and usually they will...

    Tax Filing Information

    Joann Said:what information is needed when filing your taxes and claiming an earned income tax credit?We Answered:As per the IRS web site: http://www.irs.gov/pub/irs-pdf/f1040sei.… children or dependents should have lived with at least 6 months. You have custody, you spend on them at least 50%, their address in school or medical records should be the same as yours the one you used in your return, you earned income during the year which will enable you to meet the following: 2009 Tax Year New for tax year 2009: The amount of EITC increased for workers with a third qualifying child* and the rules changed for determining...

    Tax Filing On The Internet

    James Said:What is the advantage of buying Turbo tax software in comparison with filing on the internet site?We Answered:Go to http://www.irs.gov and follow the links for Free File to see if you are one of the 95 million Americans that qualify to file on-line for free - THAT'S a great advantage right there!! I use H&R Block's File Free there because their guarantees and all are still in effect through the site!!...

    Tax Filing Programs

    Loretta Said:Web based tax programs filing flaws? Tax form 8332 and E-File filing question?We Answered:Each parent answers the interview questions. The non-custodial parent prints out form 8453 and attaches the 8332 to it and mails it in. The tax return is not complete until this is done. The custodial parent will see their forms. On their 1040, the child's name is up by box 4, not line 6c.Billie Said:If I made over $200 on ebay lasy year saling computer programs should I claim it on my tax return?We Answered:You need to report any money that you EARNED on your tax...

    Tax Filing Questions

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    Tax Filing Service

    Connie Said:do i need to file a tax thing if i start a baby sitting service?We Answered:Yes, you have to report the income on your tax return. If this is your ONLY income and you make less than $400, you don't have to file. As for fliers, I would only hand them out to people *with* children. As in, "Hi, I'm starting a babysitting service, here"--this would be best with photo, experience, qualifications and availability.Ruben Said:Do i need to use a Tax Service to "maximize" my tax returns? I am filing 1040EZ's for 3 past years.We Answered:As long as...

    Tax Filing Services

    Ruth Said:What is a good tax filing companie or preparer? I heard from relatives that HR Block ripped them off?We Answered:Make sure that you get the full benefit of your refund by staying far away from H & R Block or one of those other commercial places. The IRS has a program called VITA that does free tax preparation for households earning $40,000 or less. They can make sure that you get all your eligible credits, such as the Earned Income Tax Credit, the Child Tax Credit, the Dependent Care Credit, etc. This is an absolutely FREE service....

    Tax Filing Sites

    Crystal Said:How are the tax filing fees handled if using Turbo Tax?We Answered:You probably qualify to use any of a number of free online tax preparation sites, including TurboTax for the federal tax return. Your state may also have free efile available. If not, state forms are normally simple to complete and state refunds are often much much smaller than federal refunds. Consider filing the federal with a freefile site and preparing the state yourself if freefile is not available for the state.Jeanne Said:How to make online tax filing simple?We Answered:Online tax filing is very simplest method of tax filing. You...

    Tax Filing Software

    Erin Said:I want to use Tax act software for the first time myself.Does it reliable and allows to file both Tax Returns?We Answered:Any tax software is as reliable as the person using it. But it's really easy. If you can understand and answer the questions the software will ask...no problem. All software will allow to e-file both. However, most online or desktop software will be free to e-file your federal return only. Your state return may be extra. Luckily, New Jersey offers free e-file for state. After filing your federal, just skip the state return and e-file it here:https://njwebfile1.state.nj.us/nji/Welco…Heather...

    Tax Filing Software Free

    Danny Said:Where can i find a free tax software?We Answered:Tax Act has free software. I have been using it for about 5 years. It is almost exactly the same as Turbo Tax. The Form 1040 is free which includes electronic filing. They charge for the state return- about 7 dollars.Cathy Said:Are there any free tax software for both federal and kentucky state?We Answered:The following site will direct you to the Kentucky free filing and IRS.gov will give you a site for the Federal. Do the federal first and make sure you have the numbers from the...

    Tax Filing Tips

    Marcus Said:I claim "tax exempt" on my W-4 form. I also get tips, which I claim. Are the tips subject to being taxed?We Answered:Claiming "exempt" on your W-4 form prevents your employer from withholding federal income tax from both your wages and your tips. Depending on which state you live in, I suppose you could also claim "exempt" there too and your employer would not withhold state income tax from your wages and tips. Wages and tips are both treated equally in the eyes of the feds and the states. They are both considered earned income subject to income...

    Tax Forms 1040

    Don Said:What other documents do I need to mail with my tax return form 1040?We Answered:Yes all appropriate forms must be attached to your Form 1040 Federal Income Tax Return. Don't forget to have your current address on the return, and DON'T forget to sign the return. Include your SSN on all attachments Mail to Appropriate Internal Revenue Service Center. Since you are itemizing make sure to keep the receipts or proof of all you are reporting on the Sch A. Make sure to keep a copy of the tax return for your records. good luckJoe Said:What's the...

    Tax Forms 1040ez

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    Tax Forms 2006

    Miriam Said:How to enter in Domestic Production Activity Deduction on 2006 tax forms?We Answered:If you did not pay employees W-2 wages, or have wages allocated to you on a Schedule K-1 (for partners and shareholders), you cannot claim a DPAD. But here is more information on the credit. You would need to file Form 8903 with your tax return if you qualify. http://www.irs.gov/pub/irs-irbs/irb05-07… http://www.irs.gov/instructions/i8903/ch…Olga Said:I need a copy of my mother 2006 tax forms and we don't have a way to get to it and we need it right away?We Answered:Your mother is the only option. You can't get a...

    Tax Forms Extension

    Gladys Said:Have anybody tried to e-file a tax extension?We Answered:ACCEPTED NOT = APPROVED. It takes IRS some time to process even e-filed returns. Just relax, do not be worry about. From IRS.GOV web-page: If you file your Form 4868 electronically you will receive an acknowledgement or confirmation number for your records and you do not need to send in Form 4868. If you need to pay additional taxes, you may do so through the outside service provider or through e-file. Besides filing electronically, you can generally get an extension of time to file if you pay part or all of your estimate of income tax...

    Tax Forms File

    Katrina Said:Do I must file tax forms by 04/15 even if the IRS owes me money?We Answered:File an extension request by April 15. Go to the IRS web site and download F-4868. Fill it in with Name, Address, and SSN, and reasonable guesses of your tax liability. If you're certain you'll get money back you can just use the total amount withheld from your W-2 for both lines 4 and 5, and zero in lines 6 and 7. Mail it to the correct address for your state (see page 4 of the instructions). Ten minute job, tops.Nelson Said:What happens if you file your...

    Tax Forms Internal Revenue Service

    Pamela Said:i need the address to the internal revenue service for federal?We Answered:That depends on what state you live in and what form you file you can find that information at the IRS website http://www.irs.gov/file/content/0,,id=10…Kelly Said:Is there a address to fedex my tax forms into?We Answered:You'd need to use the USPS Express Mail if you're in a hurry to send your documents to the Internal Revenue Service. The USPS will deliver overnight mail to PO Boxes. If you're willing to pay those prices, consider e-Filing instead. The $20 fee is probably less than your overnight mail is going to cost you,...

    Tax Forms W2

    Valerie Said:What's the difference (if any) in the w2 forms and tax forms?We Answered:No actually a W-4 is what you fill out when you are hired - what you put down on that determines how much tax will be withheld from your paycheck. A W-2 is the form you get at the end of the year showing what you made for the year, and what was deducted in various categories. A tax form is the form you then fill out and send to the IRS - it shows your income and withholding for the year, and the calculation...

    Tax Forms W4

    Jenny Said:how many allowances should i report on my personal income tax w4 form?We Answered:It is actually illegal to claim more exemptions on your W4 than you are entitled to. Also keep in mind, if you pay in thru the year less than 75% of what your income tax ends up being, the IRS will penalize you. Remember it's all going to come out even in the end - for most people it is easier to pay in a little extra each check than it is to pay a large amount in April.Joel Said:I have changed jobs in...

    Tax Form 1040a

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    Tax Form 1040ez

    Jimmy Said:Where does the amount of my stimulus check go on my 1040ez tax form?We Answered:Dear Ree: Line 9 (Recovery Rebate Credit). Go to the IRS website and double check the amount look at the "what was my stimulus payment". This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled Agent Master Tax Advisor.Willie Said:I filed the wrong tax form, form 1040EZ, when I should have filed form 1040A!?We Answered:You can...

    Tax Form Download

    Pauline Said:What form do I need to get my tax back from Inland Revenue UK?We Answered:Download a form P85 from http://www.hmrc.gov.uk/cnr/p85_p85s.htm. Attach parts 2 & 3 of the P45 given to you from your last UK employer and send this to their PAYE tax office. Your employer will be able to provide an address, or you can look it up on the hmrc website. There will be a 3 digit office number on your P45, type that into the box on the link http://www.hmrc.gov.uk/local/individuals… They will review your year of departure and if you have overpaid, they will issue a refund.Gwendolyn Said:where...

    Tax Form Extension

    Nellie Said:If you are technically a corporation (no employees) what form do you file for an extension on income taxes?We Answered:First, a client can't require you to incorpoate. Secondly, if you are incorporated you shouldn't be getting 1099s. When you file an extension you are required to pay all money due. The extension is only for the paperwork. I would file a Form 4868. It's a 50/50 shot of being right. So, you knew you had a problem for month, if not over a year... why do you wait until the afternoon of 4/15 to try to figure it out?Floyd...

    Tax Form Filing

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    Tax Form Help

    Margie Said:Can you help with filling in the self-asessment tax form?We Answered:Just pay for attoney $40, he or she will help you fill it outMabel Said:I am filling out a "not for public record transfer tax form" and I need help! Which do I choose?We Answered:If the accompanying document is the transfer return itself, put 210.22 in the first blank and leave the other two blank. If this segment is part of the actual transfer form, then leave the first blank empty and put the 210.22 in the second blank and leave the third empty. In the second case,...

    Tax Form Instructions

    Joseph Said:Federal tax: Is it worth it to file the retirement savings credit form 8880?We Answered:If you meet the guidelines to claim it, yes it can be worth it. You don't have to pay someone to do it - just take it one line at a time starting at the top of the form and do what it tells you. If you have a problem with any of the lines, ask again here about what to do with that line. If you download the form at irs.gov there are instructions on page 2 that will download right along with...

    Tax Form Preparation

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    Tax Fraud Lawyer

    Carole Said:tax fraud what can help to you?We Answered:There are a lot of things considered tax fraud- however, if a tax collector is still calling then they aren't ready to arrest you. If they stop contacting you, call a lawyer. If it's a simple matter of filing some unfiled years, then contact a really good tax expert.Derrick Said:Is This Employer Tax Fraud?We Answered:Dear Rob: Fishy with a capital "F". Consider form 4598, it's an IRS form and an official complaint against your employer filed by the IRS. You will have to supply info to the IRS and they will send...

    Tax Free Bond Fund

    Jessie Said:Tax free bond funds?We Answered:you can take out any dividends the fund earns with no problem. to get cash out other than that you can SELL some or all of your shares, or if you have a margin account the brokerage house may LOAN you money against the shares you have. ALL mutual funds are subject to market risk, i.e. price fluctuations. The safety is a matter of how the bonds in the fund are rated, some governments do issue what is called junk bonds, not all that secure. Especially if the bonds are 'revenue bonds'.Lucille Said:Is it wise to...

    Tax Free Bond Funds

    Micheal Said:Can resident aliens invest in US Municipal Bond Funds? Would they get exempt-interest that is tax free?We Answered:Yes, since they are residents the same tax laws apply to them as to U.S. citizens.Carol Said:Can you transfer all the funds in an IRA to a Tax Free Treasury Bond or a Tax Free Municipal Bond?We Answered:Since the IRA is already generating tax-free income, it generally doesn't make sense to buy tax-free bonds in the IRA.Kirk Said:What are some good tax free/deferred investments?We Answered:Best options for tax deferral are your company 401k or an IRA. There are many many investment...

    Tax Free Bond Rate

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    Tax Free Bond Rates

    Mae Said:Good tax-free investments?We Answered:That is definitely a problem and you are astute enough to recognize it. Interest rates have been driven down to uneconomic levels by a government attempting to bail out a bunch of dead beat borrowers. This in eventually going to cause run away inflation most likely so you are damned if you do and damned if you don't. One option to consider is to invest for long term capital gains which are taxed at about 1/2 the regular tax rate and not taxed until sold. Since equities are now about 1/2 the...

    Tax Free California Bonds

    Sally Said:What is the best and safest way to invest lottery winnings of $8 million or more in the state of California?We Answered:This is a very tough question to answer without knowing more about you and what you want to accomplish. I have been giving financial advice for over 28 years... and I would NEVER tell someone what to do with that kind of money over the phone and/or over the Internet. Although there are very safe investments to choose from (other than bank accounts), such as: fixed annuities, equity indexed annuities, tax-free muni bonds, and U.S. government bonds (not...

    Tax Free Capital Gains

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    Tax Free Gifts

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    Tax Free Inheritance

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    Tax Free Municipal Bond

    Terrance Said:who is the best broker to buy tax free municipal bonds?We Answered:If you have as little as $10,000, you can invest in individual tax-free municipal bonds. I totally agree with your advisor that you should NOT buy a bond fund because you could lose principal. You cannot lose principal if you hold a bond until maturity. If you need semi-annual income, you can buy a regular bond. If you don't need the money for current income, you can by a "zero coupon" bond, which pays a higher rate to you because you get no money...

    Tax Free Municiple Bonds

    Willie Said:Where is the best place to put aside money, with nor risk, while gaining interest (CD's, online savings acnt ?We Answered:Bad economy: tax free municiple bonds Good economy: credit union savings accountTheodore Said:Are premium bonds a good investment?We Answered:I am not exactly certain what you mean by "premium". If you are using the term to refer to bonds selling at a premium to their redemption value, you need to be very careful about investing in such bonds. You will be redeemed for less than you paid for them. Now if they are municiple bonds, that...

    Tax Free Muni Bonds

    Elsie Said:Is it a good idea to buy muni bonds to pay for property taxes?We Answered:For most people this is a terrible idea unless you are in a very high tax bracket. The amout you would get after income tax on a taxable bond would most likely be a lot more than from a tax free muni.Sue Said:To get income w/ ur $,is it best 2put $ in tax free bonds at4.5%,or do something else,like invest in UtilitiesWe Answered:If all you're interested in is income, then a tax free muni bond is a good choice. But, while you do...

    Tax Help 1099

    Tara Said:TAX HELP!! -1099-Misc & Schedule C ...Extension??We Answered:The previous answer regarding your options about the 1099 is correct. Additionally, it has never been appropriate for a married couple to file 1 Schedule C unless one helped the other in the business. Your case doesn't sound like that was the arrangement. Review your Social Security statement that is sent annually to determine how the wage credit was applied.Tracy Said:HELP PLEASE! Wife is hair stylist made $13,724.25 that was 1099-MISC, now turbo tax says she owes 4K! What nowWe Answered:About half of that is self employment tax, for social security...

    Tax Help Capital Gains

    Bruce Said:Do lower taxes on dividends and capital gains help hasten an economic recovery or growth in the US production?We Answered:This approach is based on an economic theory called "supply side economics." It was advanced by the Reagan administration in the 1980s. In theory, lowering taxes on dividends and capital gains will encourage investors to make the type of investments that will create more jobs. In practice, this theory has been largely debunked. As a result, the direct and indirect tax burden for the middle class has increased. Wages have stagnated while expenses have skyrocketed. The poor and...

    Tax Help For Self Employed

    Pearl Said:What is the tax reduction for a person has one full time job but also self-employed in the UK?We Answered:No, there is no tax deduction as such for the employed/self-employed combination. You would have to complete an annual Tax Return, with employment and self-employed pages. Both incomes would be added together, your personal tax-free allowance (now £6475) taken off, tax for year/NIC calculated, credit given for tax paid at your job, and then you would be billed for the balance of tax/NIC Class 4. Employees pay Class 1 NIC, self-employed people Class 2 and Class 4, so you would...

    Tax Help Line

    Kathryn Said:Question on Line 28 of 1040A tax returns. please help?We Answered:You can call the IRS at 1-800-829-1040 they should be able to help. For the future you can try http://www.filelate.com this is an online tax Service i've used and they are helpful at answering my question, Good Luck :-)Anita Said:On line 18 of the U.S. corporate income tax return which interest expense do i report?We Answered:If the interest income from the bonds is tax-exempt, then you would not be able to deduct the interest expense. Otherwise, I believe you can deduct the interest expense in full on line...

    Tax Help Self Employed

    Ryan Said:Can self-employed people get childcare vouchers or tax breaks to help pay for childcare costs?We Answered:7. I am self-employed. Can I use Childcare vouchers? No, because: • Childcare vouchers come under ‘employer supported childcare’ and self employed people do not have an employer • self employed people pay a different class of National Insurance Contributions • Self employed people make a tax return at the end of the year and pay a tax bill based on their earnings for...

    Tax Help Small Business

    Jennifer Said:Small business tax question please help - Canada?We Answered:That's correct, you pay GST on what you buy, sell to your clients, charge them GST. At the end of the year, you will either end up owing GST to the CRA, or the CRA will owes you a refund. Keeping in mind that many grocery items are not included for GST purposes. Delivery Fee would have GST. Either way you should get a GST number. Sadly, there is no easier way around it (that I am aware of). I like your business idea. I use GroceryGateway.com mostly...

    Tax Laws Capital Gains

    Sandra Said:What is Capital Gains Tax and How it is Calculated?We Answered:Read about capital gains in the Karnataka Income Tax web site : http://www.incometaxbangalore.org/faq/cg… http://www.incometaxindia.gov.in/general…Sharon Said:Tax treatment of Capital gains for Australian permanent resident & US citizen?We Answered:US citizens are subject to US tax laws regardless of where they live. Her capital gains are treated EXACTLY the same as they would be if she lived in Atlanta, New York City, or Nixa, MO. She does get a credit for any Aussie income taxes paid on her income; claim that on Form 1116. See IRS Pub 54 for full information on US...

    Tax Laws Gift

    Anita Said:Gift tax on money transferred to in-laws to buy a car?We Answered:First thing --There is no Gift Tax Act in India now. Second the money given to your In-Laws shall also be tax free since gift to relatives are exempt from tax. My advice is -give money by cheque and better sign a gift deed registered with Notary stating that you are giving fit to such and such person who is relative and write the mode of transfer of money. That's it.Karen Said:Can a business charge sales tax on its gift certificates?We Answered:I think it is a bit of a...

    Tax Lawyer Career

    Holly Said:Are you happy with your career as a tax accountant or a tax attorney?We Answered:Choosing a career is one of life's most important decisions. Be aware of what you are proposing on getting yourself into. Please do more research first. Reminder: We are in a World-wide Recession. Consider career paths that have available JOBS.<<<<< Warning> Jobs in the field of Law are drying up fast!! This is just not a good field to invest time and/or money into. This is a SHRINKING, crumbling, and dying vocational field. Many reasons. We now have computers. So, many...

    Tax Lawyer Job

    Alicia Said:is it easier to find a job as a cpa or a tax lawyer?We Answered:CPAs are always in demand. I am one, and recently found a new job. Good luck!Victoria Said:I do not want to be a lawyer but I want a job involving understanding the law or regulations?We Answered:So, what else can you do in the legal field (outside of being a lawyer)? Here are some related jobs (and links to some informative paralegal career websites) that applicants who have paralegal training and/or experience might consider: Arbitrator Bar association administrator Claims adjuster, appraiser, examiner and investigator Compliance and enforcement inspector Computer...

    Tax Lawyer Jobs

    Anthony Said:What exactly does a tax lawyer do?We Answered:I'm sure it's great. The IRS tax code is so large, it's almost incomprehensible. There will always, always be a need for tax advice and protection. However, I always thought that new lawyers worked 60-70 hours a week, at least if you are hoping to make partner in a decent firm. That part I'd check on. But the job will always have high demand and will always be able to demand high hourly rates.Ben Said:is it hard to get a government job as a civil lawyer doing tax law...

    Tax Lawyer Orange County

    Peter Said:IDENTITY THEFT! PLEASE HELP!?We Answered:well most likely you have an illegal person using his social security # because they just pick a number and use it but he should be able to show it is his social security # and it should have been cleared up by now they usually contact the person using the social security # and give him a tax id # keep calling the irs and talk to a supervisor if you get no results you may need to contact a lawyer good luckShannon Said:What are my legal rights in this situation?We Answered:First of all you...

    Tax Law Book

    Rose Said:Law Book- Coporate Tax?We Answered:I would suggest 2005 Federal Taxation Basic Principles By Ephraim P. Smith, Philip J. Harmelink, James R OR Corporate Tax Incentives for Foreign Direct Investment By W. Steven ClarkTom Said:Which book should I read to get a good understanding of US Income Tax laws?We Answered:If you want to get an idea of how to fill out a tax form, try J.K. Lasser's Your Income Tax 2008: For Preparing Your 2007 Tax Return. They do a book each year to reflect changes in the laws, so if it's more curiosity on your part you could pick up an...

    Tax Law Books

    Janice Said:Is there any US tax law which states clearly about the responsibility of employer to fill the W-2 form?We Answered:You are asking about a specific law. A publication is not a law; it is merely bound to reflect the law. Sometimes, IRS publications get it wrong (although this is rare). 26 USC Section 6001 is also not applicable because it specifies only that the person liable for the tax must maintain books and records. An employer, who is required to withhold is not the person directly liable for the employee's income tax (although employers are required to...

    Tax Law Capital Gain

    Derek Said:Is the capital gain i get from selling equity is invested again in equity, do i need to pay cap gain tax?We Answered:Is the capital gain i get from selling equity shares after holding it for more than a year.... is invested again in equity, do i need to pay cap gain tax? 1) If you sell shares after holding them for more than one year, then the gains are treated as Long Term Capital Gains. They are free from tax. You need not pay any tax on it. So it is left to you weather you...

    Tax Law Capital Gains

    Shelly Said:How do I know how much capital gains tax i'd have to pay?We Answered:I know this may not help much, but tax law is really specific and it depends on what type of asset it is, how long you held it, your tax bracket, whether you are a corporate or non corporate taxpayer, etc. If you are a non corporate taxpayer, (after you net your losses against your gains) and it is a net short term capital gain, you can add it to your regular taxable income and be taxed on it in a range from 10-35% depending on...

    Tax Law Career

    Erika Said:law career path??? what subjects do I take?We Answered:It really does not matter what classes you take in high school or college. You just want to be sure that your college GPA is as high as possible. I am currently in law school, and most of us were either political science majors or business majors, but there are philosophy majors, social work majors, even a Japanese major. You may consider taking a logic class at some point to help with the LSAT, but I didn't and I was just fine. (As to the advise on knowing the Constitution,...

    Tax Law Careers

    Eugene Said:Is it true that taxes are not required by law?We Answered:Of course it's not true! "Zeitgeist" is no more a documentary than "Snow White" or "Men in Black" is. The Constitution does NOT say that income taxes must be "proportionate." It states that DIRECT taxes must be APPORTIONED among the several states. The phrase "Income Tax" does not appear anywhere in The Constitution. Due to a Supreme Court ruling in the late 1800s, income taxes were declared a direct tax subject to apportionment. That was made moot by the 16th Amendment to The Constitution which states: "The Congress...

    Tax Law Change

    Shane Said:Why the change in the tax law regarding withholding?We Answered:Withholding is there for a reason. Basically, we, the average citizen, aren't trusted enough to save money for the entire year to pay our tax liability. If you want to opt out of tax withholding, then claim 10 or more exemptions on your W-4. Then on April 15, you can pay all of your taxes plus the penalties and interest for not having enough taxes withheld. I'm sure that the penalties and interst on the underpaying of taxes will more than wipe out any possible gains that you...

    Tax Law Changes

    Thelma Said:What are the major changes in tax law for 2008?We Answered:Look at "what's new" at the beginning of each numbered section of Publication 17 and "what's new for 2008 on page1 and "what's new for 2009" on page 2 - of course there are a number of new things that have happened since last year's pub 17 was issued..Gabriel Said:In 2003, the Internal Revenue Service began to mail out refund checks because of a change in the tax law. EconWe Answered:It is about increasing money supply. The government can do this in two ways: print more...

    Tax Law Firms

    Earl Said:Income tax return of a law firm?We Answered:the tax return should be the indian tax return with attached financial statements of the law firm, showing the revenue, expenses, profit or loss, for the period covered. If the firm is a partnership, it should show the names of the partners and the share of profit or loss.Oscar Said:how difficult is law school, I'm wanting to be a tax/estate planning attorney?We Answered:I just graduated from law school in May. I'm still looking for a job, but part of my problem is that my grades in law school weren't terrific....

    Tax Law Gift

    Wanda Said:What is the TAX LAW with Gift money?We Answered:The person who receives a gift of any amount does not pay any tax or file any gift tax return. Only donor may have to pay the tax. A person can give any number of gifts of less than $12,000 to any number of persons. No tax is payable on these gifts. All gifts of more than annual exclusion amount of $12,000 must be reported. There is a lifetime exclusion of $1 million. A person making a gift in excess of $12K must include the gift in the lifetime exclusion and file...

    Tax Law Guide

    Leon Said:Where do I go to find best answers to tax questions?We Answered:You can check the web, including my site www.taxesq.com. There are also a vaiety of annual books for non-professionals such as Lasser's. CCH offers the Master Tax Guide which is a nice reference source. I hope this helps! Ronald J. Cappuccio, J.D., LL.N. (Tax) Counsellor at LawSherry Said:Best tax law book to have in a library....?We Answered:You might want to look at the Ernst & Young 2007 tax guide: http://taxes.about.com/od/taxbooks/fr/Er… Like any book, it's not perfect, since congress is constantly changing the laws, but this particular volume has some nice commentary about the...

    Tax Law Inheritance

    Shane Said:Rel estate to grandchildren, can a quick claim deed be done without paying inheritance tax?We Answered:I think you are talking about a Quit Claim deed. You need to check state law for inheritance and transfer taxes. Normally gifts are not subject to the real property transfer tax. The inheritance tax, if the state has one, would only be due upon your death when the grandchildren inherit the property from your estate. You also need to be concerned about the federal gift tax. During life you can give anyone you want up to $13,000 of cash or property per year...

    Tax Law Job

    Audrey Said:Can a full time student check exempt from tax when applying for a job?We Answered:*IF* a full-time student works on campus, there is an exception to the FICA/MC statutes, so the college doesn't have to withhold FICA/MC for them. (Personally, I'd rather have had the credit on my earnings history.) The college already knows about this exception. *IF* the student knows they have less than $300 in unearned income (interest on their savings), expects to make less than $5450 total, and didn't pay taxes in 2007, the student can select exempt for their pay in 2008. If they apply...

    Tax Law Jobs

    Rachel Said:what are the different types of of jobs there are in law offices particularly big law offices?We Answered:If you want to make really good money; you need to keyboard over 80 words per minute; know WordPerfect inside out. You need to literate on WestLaw and Lexis. You will need terrific phone skills, and above all, understand your place. Which means you serve your attorney you are assigned to, because his/her skills is what creates your position; directly. A paralegal school is a good place to start. I know many people that have law degrees that serve as "paralegal", especially...

    Tax Law Program

    Russell Said:I was accepted into Pace Law school. What is the best program for me to choose when I attend?We Answered:Like the other poster said, you won't be choosing a major like you would in college, but you can get "certificates" in environmental or international law at Pace. Certificates won't give you much of an edge in hiring and may only serve to narrow your opportunities after graduation. Environmental and international law jobs are rare specialties and graduating from Pace won't do you any favors. Generally, the only people who get these kinds of jobs are graduating from top-six schools. I'm...

    Tax Law Programs

    Ted Said:If a new tax law came out that gave each of us a list of programs that we could pick from what would you pick?We Answered:Great question. Education Defense Interior (Roads, bridges, etc) Public Transportation Children's Health Care (once an adult you're on your own) About unemployment - it is a common misconception that we have or have had a "welfare state." At it's height in the Great Depression, unemployment was 25%. For the past 40 years it has fluctuated between 5% and 15%. Suggesting that those 15% are "refusing to work" or that they are "ruining it for the rest of us," is IGNORANT.Erica...

    Tax Law Questions

    Irma Said:Why is it that so many people no very little about Australian Tax Law?We Answered:Hi Hubert - this is a good question. I think a lot of people asking tax questions on YA are either young and new to the system, don't have accountants or just go to see the cheap 12-week-course tax consultants to do a tax return once a year with no proper business relationship. Maybe some want to scope out their issue a bit so they might have a better idea of what they are talking/asking and feel confident before they speak with their accountant. That's why...

    Tax Law Rental Property

    Kay Said:What are the tax implications of selling a rental property in MA?We Answered:First I would strongly suggest you get help. Look at IRS form 4797 and see if it looks like you could handle it. You are quoting the rules of the early '90's when you ask about a new purchase a home with in a certain period of time. The rule now is if the primary home was used for 2 of the last 5 years you can exclude up to $500,000 if married. The rental property requires some expertise in completing the sale on 4797. This advice was prepared...

    Tax Law Research

    Brett Said:Is there a law stating we have to pay federal taxes?We Answered:1. Yes, there is a law stating that most people have to pay federal taxes. You can read it at http://www.law.cornell.edu/uscode/uscode… or at http://www.access.gpo.gov/uscode/title26… 2. You need to find a more reliable source for your research. The Bureau of Engraving and Printing, which is part of the U.S. Treasury, prints all of the paper money. The U.S. Mint, also a part of the U.S. Treasury, mints all of the coins. BTW, the Federal Reserve was setup by Congress and is INDEPENDENT, but...

    Tax Law Schools

    Russell Said:if there is no law that requires an average american worker to pay income tax then why do you do it?We Answered:No law huh? Try not paying the taxes and see what happens.Marshall Said:Is there some sort of tax break available to parents who send their children to private schools in Florida?We Answered:Tax breaks for Florida schools: (multi- answer) Back to school shopping 10 day sales tax break- The bill (SB 1456), sponsored by Rep. Marti Coley, R-Marianna, passed the House unanimously. It had earlier passed the Senate. If Crist signs the bill, there would be no sales tax on books, clothes,...

    Tax Law Solutions

    Tiffany Said:When was the federal income tax law instituted?We Answered:1913 is when it was made permanent.Sally Said:Is it a rip-off to have a third party prepare my tax return?We Answered:Most taxpayers can prepare their own tax returns and would come up with the same tax liability as any tax pro would. If your only income is from wages reported on Form W-2 and a bit of bank interest there's really no reason to pay anyone. Even somewhat more complex returns including deductions for a mortgage and property taxes can easily be handled with inexpensive off-the-shelf software or at...

    Tax Law Specialist

    Elmer Said:How to become a human resources manager/ specialist (steps)?We Answered:Step 1: Do a university degree (college) in a human science (psychology or law), step 2: take a post-graduate course or MBA in economics or marketing (really!) so you learn to speak and understand the language of the managers you will support in corporate life. Step 3: start your career in recruitment (in a company, not for a recruitment agency or headhunter) Step 4: after 3-5 years shift into expat management and you'll learn about all aspects of HR from Talent management to payroll, tax and contract management Step 5: become Hr director...

    Tax Lien Help

    Walter Said:How can I get a Tax Lien Sales list for Wisconsin without joining a site?We Answered:THE TAX ACCESSORS OFFICE FOR EACH COUNTY IN THAT STATE SHOULD BE ABLE TO HELP YOU FIND THAT INFO,,YOU WILL JUST HAVE TO DO YOUR HOMEWORK AND CHECK EACH OFFICE ,, ''NOT THE IRS''Cory Said:If a tax lien company has a tax certificate on some property how do we buy it?We Answered:There is a difference between federal tax liens and state tax liens. If you are talking about state tax liens, then yes, the local tax assessor can tell you exactly what you need...

    Tax Litigation Lawyer

    Byron Said:Question about becoming a lawyer?We Answered:The are "general practice" attorneys, who handle mostly "routine" matters, such as wills and trusts, real estate transactions, some litigation, some (relatively minor) family or tax law issues. You indicate that you are interested in accident (I assume you mean personal injury), family, tax, and bankruptcy law. All four of those areas are VERY specialized, and deal with vastly different parts of the law. It would be very difficult to practice all of those areas well. Have you ever heard the saying, "Jack of all trades, master of none?" ...

    Tax On Capital Gain

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    Tax On Gifts

    Allison Said:Is there a tax on gifts?? Please someone help!!?We Answered:In this case yes, you'll be charged sales tax on the value of the flatbed tower. But you don't have to pay any taxes to the IRS on the value of the gift, since gifts are never taxable as far as income tax to the person who receives the gift.Lois Said:What is the tax imposed on gifts imported from the US into India ?We Answered:Generally anything that's imported into a country is charged a custom duty. And this custom duty is nt classified based on the actual value of the...

    Tax On Inheritance

    Bernice Said:Do I have to pay tax on my inheritance?We Answered:It depends on where the money originates (IRA or bank account) and where you live. Some states like new Jersey have an Inheritance Tax that must be paid by the heir while most states, like California, do not. If the money comes directly to you as the beneficiary of an IRA, taxes owed, if any, depend on whether you have to withdraw the all at once immediately, over a period of a few years, or over the course of your lifetime. You should speak with a tax...

    Tax On Investment Bonds

    Ken Said:Where do interest from bonds and CD's go on an income tax return?We Answered:When you have a CD or a bond where the redemption price is more than the purchase price, you have Original Issue Discount. The difference is interest income and is reported on 1099OID by the payor each year over the life of the investment. If your CD or bond pays periodic interest, that interest is reported on 1099INT by the payor. A person receiving interest income whether reported or not enters the interest income on Lines 8a and 8b of Form 1040 (or corresponding lines on the...

    Tax Planning And Preparation

    Joe Said:In South Carolina do you need a license to do tax preparation?We Answered:You don't need a license - but you are not certified as a tax planner. Anyone can do others finanical work. You can even sign others tax forms as their preparer - but you can also be held liable if something is wrong. You do need a license if you are going to be in business to do tax planning....

    Tax Preparations

    Kelly Said:How much do tax preparations usually cost?We Answered:It can be free to several hundreds of dollars. If all you have is mortgage interest to deduct, it's simple to your own. You just take the mortgage statement you get and subtract the interest you paid on the loan. There are several online sites where you can do it for free. Or buy TurboTax, etc. I would not recommend the Tax-mills like H&R Block. Try finding a local accountant who will be there next year and the year after.Clinton Said:Is sales tax charged on Income tax preparation in Ohio?We Answered:Looking at the ohio state...

    Tax Preparation 2003

    Carrie Said:What should I do if my tax preparer made a mistake on my returns for the last fifteen years,?We Answered:You only have 3 years from the due date of the return to claim any additional refund, the Statute of Limitations for 2003 expires on April 15th 2007. Any prior refund to that is gone regardless of who made the mistake...

    Tax Preparation 2004

    Kevin Said:How do I file back taxes? from 2004 and 2005...?We Answered:You can go to a tax preparer. If you go to one of the chain tax preparation firms, tell them you have back taxes from 2004 and 2005 to file and ask that they give you someone who can do this quickly for you. These firms do this all the time and it may be the least stressful for you. But you can certainly file yourself. Go to irs.gov and print out the forms you need, fill them out, and mail them in. You cannot file...

    Tax Preparation Assistance

    Lucille Said:Tax question regarding the GI bill and the eligibility for the hope credit and the lifetime learning credit.?We Answered:No, you cannot claim the credit. The VA is paying the expense. Seven years of tax preparation. donJerome Said:When is the deadline date for my employer, my bank, etc. to have sent me my tax preparation information?We Answered:From the FAQs at www.irs.gov I didn't get my W-2 by January 31, so I asked my employer for it, but I still don't have it. What should I do? If you don't receive your Form W-2 (PDF) by February 15, contact the IRS for assistance...

    Tax Preparation Business For Sale

    Eric Said:Business tax help!?We Answered:Business licenses, as Mudbug says, are handled at the local or state level, and depend on the type of business, location, and other factors. You may also need to get a state sales tax number. Quickbooks is a good program for keeping track of your income and expenses, but for tax preparation you will need a separate tax program. if you are a sole proprietor, you report your business income on Schedule C, and most personal tax programs will have that form. For other forms of business, you will have to get a business...

    Tax Preparation Business Plan

    Jamie Said:how do i start an marketing plan? tax preparation business...?We Answered:Visit www.entrepreneur.com They sell start up guides for many businesses I use to own several tax preparation businesses very good business to be in, especially with electronic filing.Kristina Said:What licenses or tax preparation do I need in order to sell merchandise online?We Answered:That depends on where you are. For one, if you plan to sell to anybody within your state you will need a sales tax ID. To get that you will also have to have your business name registered with your county clerk's office (its called a DBA)....

    Tax Preparation Business Software

    Doris Said:What is the best tax preparer software?We Answered:Don`t be discouraged by the tax heads trying to scare you off.It is true HR `s basic training benefits no one but themself.Turbo tax is not pro enough to run a business with ...you need to buy something like Drake software, Taxslayer pro..or tax wise.They have qualified assistance to teach you everything you need to know.There is a lot of money in this business but you should be prepared to spend some real cash too. good luck.Annette Said:I'm going to start a small Tax Preparation business out of my house. Does...

    Tax Preparation Canada

    Martin Said:How do you become a certified tax preparer in Canada?We Answered:There is no licensure requirement for tax preparers in Ontario. You might check other provinces but I doubt there is anywhere in Canada.. This is why really bad companies like H&R Blockheads are in business. They hire uneducated temporary staff and charge them to "educate" them. A number of colleges offer programs leading to tax preparation: http://sculptor.sheridanc.on.ca/webapp/w…Rick Said:Tax preparation (in CANADA)?We Answered:H&R Block charges $45 for simple retrun I think, but if you own rental property they will need to prepare additional papaerwork, so it will cost a little more. I'd...

    Tax Preparation Career

    Bonnie Said:How is a typical tax firm structured?We Answered:That really depends on the size of the firm. A larger firm will traditionally have a break into at least two areas: one that deals with individual tax and one that deals with partnerships and corporations. A smaller firm probably won't have that distinction as they just have to assign the work as it comes to who is available. However, speaking from experience, if you make it known that you prefer to work on let's say partnerships then they will try to give you more partnership work. It is in their interest to find...

    Tax Preparation Checklist

    Milton Said:what do i need for my taxes?We Answered:here is a checklist for tax preparation.. http://www.tax-easy.com/checklist-for-ta…Erin Said:What should I ask when hiring a "mother's helper"?We Answered:If she will be your employee, you should have a contract and understand tax obligations and your responsibilities as an employer. There are websites that can help you with example documentation. Have you carried out a criminal record check and followed up references? You will need to be clear whether any care will involve her being in sole charge, include domestic chores, child or household laundry, cooking and meal preparation for the children? Will you provide her with...

    Tax Preparation Class

    Annie Said:How much does the H&R Block charge for the tax class?We Answered:It depends on the district. Between $99 - $300 The $99 charge is for the books and there is no tuition fee. It is designed to get people into the classroom as possible employees. All basic classes are the same as they use the same text books except for state taxes (obviously.) They do sometimes offer a "mini" basic class that covers the first half of the basic class. A normal basic class is 11 weeks long at 3 hours a lesson. Things that are covered in the basic:...

    Tax Preparation Classes

    Valerie Said:Tax Preparation Course?We Answered:They do offer classes but not at this time. I think the online was through hewitt jackson. Call a few places, they start up in like Sept or something, from what they told me, you take the class and then they choose who they want to hire, everyone else simply gets free tax training.Bill Said:What is an inexpensive online tutorial tax preparation class website?We Answered:First of all, your employer MUST have tons of reading material for you to examine... Secondly, the IRS website (www.irs.gov) has literally hundreds of pages of tutorials for all types of...

    Tax Preparation Companies

    Freddie Said:How is Palin's windfall profit tax on oil companies in Alaska not wealth redistribution?We Answered:Oh, good question. I don't know, but it's like that quote Palin used to end her speech during the debate--the one by Reagan, the one about having to protect freedom for your grandchildren. How ironic it is to discover that Reagan said that as part of a “campaign organized by the American Medical Association to block the passage of Medicare.” We're do darn ignorant. The term "socialism" is being bandied about by Republicans like it's the latest threat since terrorism and the ignorant lap it up,...

    Tax Preparation Company

    Lawrence Said:Which rapid refund tax preparation company is best?We Answered:They all suck. They're all major ripoffs. The RALs are not done by the tax preparer but by a partner bank. Tax preparers are barred by law from handling client funds.Arthur Said:Tax question: Take grad class, company reimburses, leave company, i pay company, do i get write off?We Answered:You can claim it on a Schedule A if you itemize. The amount claimable is that which is above 2% of your Adjusted Gross Income(AGI). Don't miss things like fees for tax preparation for 2006 returns paid in 2007 if you got...

    Tax Preparation Comparison

    Tiffany Said:Should we file jointly or separatly?We Answered:Unless there is a pressing reason for filing separately (MFS) then filing jointly (MFJ) does result in lower overall taxation in *most* cases. Reasons for filing MFS could include one spouse owing spousal or child support, one spouse having old tax debt or just one spouse isn't trust worthy. I've met quite a few client who just did not want to mix finances with their spouse for any reason. If you do file MFS, you lose quite a few deductions and credits including tuition and fees deduction, student loan interst deduction and eductions...

    Tax Preparation Cost

    Terri Said:how do I get a tax id in canada, and how much does it cost?We Answered:To get a Business Number, you can contact the Canada Revenue Agency by phone at 1-800-959-5525, mail or fax, or register for a Business Number online. http://www.businessregistration-inscript… If you choose to register by mail or fax, you will have to fill out Form RC1, Request for a Business Number (BN). http://www.cra-arc.gc.ca/E/pbg/tf/rc1/RE… As for ideas on how to make money, the best business will depend on what you want, how you define to be interesting. A person may consider a pet sitting business to be the most...

    Tax Preparation Costs

    Fernando Said:Do GMAT costs qualify for business expense tax deduction?We Answered:No. It's not tuition. There is NOTHING in the tax code to give you a break for it....

    Tax Preparation Course

    Fred Said:Can anyone tell me where I can take an online tax preparation course?We Answered:http://www.irs.gov/individuals/article/0…Mario Said:canadian income tax preparation course online?We Answered:CCH Canada is the main tax education publisher in Canada: http://www.cch.ca/product.aspx?webid=203…Eleanor Said:Has anyone taken the tax preparation course offered by HR Block and been hired to work at completion of courseWe Answered:That is how i started and am still with them after 9 years.... as far as training and course... it is the basic course .. you learn more with hands on... they give you ample continueing courses if you really want to learn and move forward... you can take the...

    Tax Preparation Education

    Louis Said:What does a good tax preparer charge?We Answered:You will find that charges for tax preparation will vary from preparer to preparer. I would avoid the store front tax preparation places. A lot of the people that work there have taken a 10 week course on how to do taxes - I know because I have taught the classes myself. Call around to a few CPA's in your area and they should give you a feel for what they would charge. CPA's are licensed and required to take continuing education every year to keep up with...

    Tax Preparation Efile

    Stacey Said:Tax deductions? EFile?We Answered:The only way you could possible get more money back by saving is if the money is going into a retirement account and he qualifies for a retirement credit. I am not sure what is going on with his taxes. If you are not sure that you are doing your taxes right, you should go to a professional. Turbo tax will give you the same results as any other online software program. Only someone with training and knowledge can let you know if you are missing something or doing something wrong. You can...

    Tax Preparation Fee

    Salvador Said:is the fee for a local property tax appeal tax deductible for Federal tax?We Answered:It would be a professional fee similar to the fees you might pay for tax preparation. Both are miscellaneous deductions subject to 2% exclusion...

    Tax Preparation Fees

    Marvin Said:who offers the more affordable tax preparation fees?We Answered:Honestly, none of them. If your looking for affordable fees, go to an individually owned business, not a chain. The best option is for to file yourself. There are several online programs that are easy to use, inexpensive, and in some cases free. Turbo Tax has a free edition, as does TaxAct. I like Taxslayer myself, it is $9.95 for your federal and state return.Annie Said:In 2008, I had to file several years of back taxes. Can I write off preparation fees for those years?We Answered:Whatever...

    Tax Preparation Form

    Russell Said:Schedule K Form 1065-What do I do with it for tax preparation?We Answered:You might mean Schedule K-1 (form 1065). This should have come with instructions which detail EXACTLY where to report income/losses shown on the K-1. If you don't have the instructions, they're here: http://www.irs.gov/pub/irs-pdf/i1065sk1.…Jeremy Said:How much do you pay for income tax preparation? short form or long form?We Answered:I do my own taxes, using Turbo-Tax. It cost about $50. It does long form and state taxes. It has prompts for deductions you might miss. I love it. I used H&R Block's program one year and it was so difficult to...

    Tax Preparation Forms

    Lee Said:Over charged on tax preparation? Do I have to accept forms and pay?We Answered:No you do not have to pay. You can just tell them that that is a bit much and you would like to go elsewhere. Get your stuff back and go someplace else. I hope you do go some where else!!Marian Said:US Tax Forms: Short versus Long?We Answered:Using the long version vs. the short version won't make you owe less taxes.. it won't make any difference. The short form was designed to simplify the tax filing experience for those who are for example, single with...

    Tax Preparation Franchise

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    Tax Preparation Franchises

    Doris Said:Tax preparation and refund request?We Answered:There seem to be several things wrong here. Child care expenses aren't business expenses, although they are very possibly eligible expenses for a child care credit. And a business expense paid in 2007 can't just be kept for next year - it sounds like maybe she didn't know what to do with it. Then there's the rejection - did they say WHY it was rejected? I'd send a letter, certified mail with a return receipt requested, to the owner at the address where you got your taxes done, letting him know that...

    Tax Preparation Guide

    Wayne Said:how do you file a tax return?We Answered:Doing it the old fashioned way: I will presume you are attempting to complete a relatively simple return for a married couple who have two children two children (not in day care) and are buying a house with a loan that has an escrow or impound account. In addition to the regular payment, the escrow account collects enough to pay property taxes and homeowners insurance. Every real case is different but the following items are pretty typical. First you get a blank forms (Form 1040 and Form 1040 Schedule...

    Tax Preparation Industry

    Minnie Said:Which person running for President is calling for a 23 percent sales tax? Would that get rid of illlegals?We Answered:There are lots of candidates that are supporting this tax, called the fair tax. I would suggest looking into it more, because you seem to not have heard of it. The fair tax basically eliminates ALL taxes, except for a sales tax. That would mean no income tax, no auto tax, no death tax, inheritance tax,etc. The only taxes that you would pay is on things that you buy, like t.v's and groceries. The basis for getting rid of the...

    Tax Preparation Information

    Minnie Said:I moved and just realized that I can't find any of my previous income tax preparation/filing paperwork?We Answered:If by previous you mean previous years, yes you won't need that unless you are doing some complex stock averaging or something like that. For a typical return all you need are this years (2006) tax records...1099's, employer information, banking records, mortgage info, etc....

    Tax Preparation Job

    Janet Said:I'm a staff accountant that is think of being a tax preparerer as a second job. Is it worth it?We Answered:I've just completed my first season with H&R Block. I enjoyed it and it's a good fit for me, but you need to consider a few things. First of all, during the peak part of the season (Last third of January to about the middle of February), I worked every day (5-10 pm in the evening and 15 hours on the weekend). It was a bit hard on my family Secondly, I (and everyone else) had to sign a...

    Tax Preparation Jobs

    Julia Said:how do i start a tax preparation home business?We Answered:I am a tax preparer from my home - you will need quality education to do the job properly for your clients - H&R Block offers among the best courses in tax preparation - if you do well, they will want you to work for them and will offer you employment - take it and gain very valueable experience - then, the following year, if you have the confidence, you may start advertising your trade to the public AFTER resigning from Block as they don't want you to be in...

    Tax Preparation Outsourcing

    Helen Said:has anybody heard of www.bdmfinancemgt.com, Brown, Davis ,Miller Tax Preparation outsourcing taxation service?We Answered:it is a scam website to make people think they are filling an application for an interview when the bitter truth is you put your information there and somewhere along the way they will try to get your social security number to perform identity theft on you, and they sell your phone number to marketing companies to call you and advertise sh!t. Dont fall for it its a SCAMJoyce Said:who is roger binni sharma?We Answered:The following Article appears in Hindi Daily Newspaper "Amar Ujala" Dated 13th...

    Tax Preparation Price

    Mildred Said:Can I cancel my tax preparation with accountant?We Answered:You can try, but I have to wonder if you sold your house for more than its base value, namely what you paid into it and if so then you had income, possibly capital gains income. That is the problem with asking for tax advice on the internet, you have to include the numbers to get a fair answer and that is risky at best. If you paid her 500 dollars and the return is no good then you ask for your money back but they do not have to give...

    Tax Preparation Prices

    Norman Said:How much should I charge for tax preparation?We Answered:Charge by the hour; some peoples needs are greater than others....

    Tax Preparation Products

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    Tax Preparation Programs

    Dave Said:Why are you going to pay for tax preparation?We Answered:I am glad you found a site that works for you so far. I have been a tax professional for over 18 years...trust me...I would rather work on a tax return that is complex and they actually need my help...rather than a simple one just to make money. Most people don't need help with their tax returns...however many of them feel better hiring someone else to do them. I can make a living doing corporate returns...but I don't feel I should turn down anyone that thinks they need...

    Tax Preparation Questions

    Tina Said:How to answers this tax preparation question?We Answered:If you were a full time student but provided over 1/2 your own support for 2008, then no one else should be claiming you as a dependent. Support is a subject that takes into account many different things, such as the home you live in, food, and all other expenses that account for your support. I am attaching a link to the IRS Pub 17, page 33. Support Worksheet. So if you live with your parents, were a full time student in any part of 5 months of the...

    Tax Preparation Rates

    Mario Said:tax return preparation: what is difference between total ordinary dividends and qualified dividends?We Answered:Ordinary Dividends are taxed as ordinary income (10-35%). Qualified Dividends are taxed at the lower capital gains rates (0-15%).Cheryl Said:does turbo tax deluxe include local tax preparation?We Answered:You don't need to file local taxes. Just Federal and State if you pay State taxes. I don't in Washington State. If you are talking about your deductions there is a place in turbo tax where you put your local tax rate in for deduction purposes. You can either choose the estimated tax deduction or if you keep every single...

    Tax Preparation Sites

    Carolyn Said:Is there any tax preparation place that does not make you pay anything up-front?We Answered:Most large tax prep places can set up for your fees to come out of your return. Or you can look for a VITA or Tax-Aide site in your area, those are free.Patricia Said:Any FREE online tax preparation sites for India?We Answered:Try out: www.yureeka.com Guess it allows u to prepare tax return for free. Pls note there are 2 e's in the site name... Hope this helps... Lemme know.....

    Tax Preparation Software Comparison

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    Tax Preparation Software Download

    Danny Said:Which is the best money managing software? And which one cost the least?We Answered:The two best money management software tools out there are Microsoft Money and Quicken. Both of these programs cost about the same price. I usually wait until January to buy my yearly update because I also buy Tax preparation software (Taxcut) and they always have a $25 mail in rebate if you purchase Microsoft Money at the same time. That effectively makes Microsoft Money free. (As long as you remember to mail in the rebate form) I have used both software tools over the years and I...

    Tax Preparation Software Review

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    Tax Preparation Software Reviews

    Tiffany Said:Best Tax Software - TurboTax or TaxCut?We Answered:I've used Turbotax for around a decade. My father has used TaxCut for about the same period. Both of us are quite content with the software we use. I use Quicken for online banking. TurboTax and Quicken are both made by Intuit, making data integration easier. CNET always has well written reviews. Go to the following 2 links: http://reviews.cnet.com/accounting-and-f… http://reviews.cnet.com/accounting-and-f… It rates TurboTax at 8.0/10 and TaxCut at 7.8/10. I'm not sure that difference is significant. TaxCut seems to be a little cheaper.Leroy...

    Tax Preparation Supplies

    Gloria Said:I want to know the calculation of service tax?We Answered:hey dude..........its flat 12.36% ( 12 base rate + 3 %cess tax) no surcharge Name of taxable service Stock broking Internet Café (zzf) Telephone connection (b) Management, maintenance or repair (zzg) Radio Paging (c) Technical testing and analysis (zzh) General Insurance (d) Technical inspection and certification (zzi) Advertising agency (e) Forex...

    Tax Preparation Tips

    Joel Said:Last minute travel preparation tips for an American's first trip abroad in London?We Answered:So it is your first trip outside USA? 1) Don't expect everything to be the same as 'back home'. It is not. That is the just way it is, accept it. Try to enjoy it as a different experience, after all you'll be back home soon enough. 2) London is very cosmopolitan, it is a big busy city with all that entails. It dosn't have a grid system of streets, they twist and turn and it is very easy to get lost. (but thats a fun thing to...

    Tax Preparation Training

    Carole Said:I am considering taking the H&R Block tax preparation class .My hope is it will lead to a job offer.?We Answered:It's not bad training for a tax preparation job, but my colleagues who have worked for H&R Block don't really recommend it. In California, after you take the course, if you get 90% on the state tax preparer certification test, you're offered a job. (A passing grade is 80%.) The problem is that it's part time from mid-January until April 15, and pays minimum wage. They set the hours and select the incoming returns you prepare. You get the...

    Tax Preparation Web

    Jared Said:how can I start an online income tax preparation business wiht RAL and E-file offered?We Answered:If you don't already have experience I would strongly suggest that you go work for one of the national franchises for a couple of years. Just jumping is will be a major injustice to your clients. H & R Block has a national policy against doing work on the side but everybody violates that as a means of starting to build a client base (I don't work for them by the way). Others allow you to do outside...

    Tax Preparation Websites

    Brad Said:Please help me find Private brand/ label tax preparation websites.?We Answered:Never heard of that. What exactly are you looking for?Duane Said:Which is a better website for tax preparation, TaxAct.com or TurboTax.com?We Answered:I tried both just to double check my work. I went with TaxAct. The menus were easier. Free to efile federal - I had to mail my state in since they wanted to charge me - both sites did this. /...

    Tax Preparer Jobs

    Felix Said:Average hourly rate for an experienced tax preparer in NYC?We Answered:Dear s110: Unless you have completed H&R Block training, you will not be considered for this year. My guess would be in the $15-$25 range. BTW- If you are going to prepare more than 10 NY state returns you must register with NY state and pay $100. This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more Errol Quinn Enrolled AgentBeth Said:does any one...

    Tax Preparer Software

    Julie Said:Is it worth the money to pay a tax preparer, or is just as effective to use do-it-yourself tax software?We Answered:Depends on your patience level.Walter Said:What software do tax professionals use?We Answered:I have been using Lacerte for about 7 tears now and am mostly satisfied with it. I've been "solicited" by Drake, however, I found that though they claim to be "easy to use and user friendly", I was unimpressed by the "navigating" process. It may be that I've become so accustomed to Lacerte. The bottom line is, most of the vendors will provide an evaluation copy of their...

    Tax Prepare Software

    Valerie Said:what is the best tax preparation software to prepare multiple returns?We Answered:What do you mean by multiple returns? If your just doing returns for your immediate family, most off-the-shelf software can be used to prepare up to 5 returns and generally to e-file 2 returns. If you're asking about commercial tax prep software the dynamic changes significantly. Intuit Pro Series will fill most needs: http://proseries.intuit.com/?cid=Google_… though there are others in the market such as TaxWorks and TaxWise. The hard-core pros tend to gravitate to Drake: http://www.drakesoftware.com/Elsie Said:Do Tax professionals usually use tax software when they...

    Tax Preparing

    Geraldine Said:Can I claim the fee I paid H&R Block last yr for preparing my 2006 tax returns?We Answered:You can include tax preparation fees in your miscellaneous itemized deductions on Schedule A. After being grouped with other miscellaneous deductions subject to the 2% limit, you can claim the amount of expenses that is more than 2% of your adjusted gross income. For more specific guidance, I'd refer to the IRS website.Ricardo Said:Can you direct deposit a tax refund to your bank if you are a dependent on and you are preparing the return?We Answered:This is from the IRS link below: "Taxpayers...

    Tax Preperation Software

    Betty Said:Will tax preparers have a future?We Answered:Yes!! I am quality control at a large tax prep. office and their are plenty of customers and many come back year after year because of the paper trail and the fact that their taxes are guanteed. Many people just get to nervous about doing taxes and with the divorce rate and tax law changes conserning this and other issues. If anything the TP Offices will have to up the benefits of paying someone to do their taxes.... Also, Tax preparers will probably qualify to be help desk support for these on-line software companies. Have a...

    Tax Problems Help

    Gary Said:How do I get a employer to give me there tax ID for a 1099 they refuse any help appreciated?We Answered:First of all, you don't need their tax ID number for anything. You can take them to court under their business name, and name the agent, proprietor, whomever. If this person is only a manager, contact the owner, and notify them in writing of the problem so that you have a paper trail. Make sure the person who shorted you receives a copy. Contact the Better Business Bureau; see if you can file a complaint. I used to live in...

    Tax Problem Help

    Gordon Said:I need help with my tax problem?We Answered:You won't go to prison. The only people who go to prison are those who commit a massive deliberate fraud, or who ignore a Court Judgement to pay their tax. They get send down not because of non-payment, but contempt of court. Your employed/self employed status working for the double glazing firm is a bit iffy. HMRC may decide you were employed, and that employer is liable because of employer's non-compliance. It is then HMRC's problem to get money out of employer, or in this case from Official Receiver. Guard what documentary evidence...

    Tax Questions Capital Gains

    Felicia Said:Capital Gains Tax Questions?We Answered:question isn't how much do you owe on it, but how much did you buy it for. Your capital gains would be the difference between what you sell it for and what you paid for it. Since you've owned the property for at least 1 year it will be taxed as long-term capital gains, which the maximum rate is 15%.Jim Said:Question on Capital Gains Tax on Mutual Funds?We Answered:Two separate issues involved. One is the capital gain on the net asset value (NAV) of the shares themselves. That gain is only realized when...

    Tax Question Help

    Morris Said:Partnership tax question, pleaes kindly help!?We Answered:If you and your girlfriend are now co-owners of the partnership, the girlfriend will not be issued a 1099. Any contract labor you and your partner hire will be issued 1099s. Your partnership needs an agreement as to how the profits and losses are shared. Your partnership will report its income and loss on Form 1065. The partnership tax return will issue Form 1065 Schedule K-1 for each partner. The partnership tax return is due March 15. Each partner will use his/her Schedule K-1 on their own tax returns (Form 1040). The...

    Tax Rate On Capital Gains

    Edna Said:Is there Capital Gains Tax on an offshore bank account in Singapore for US Citizens?We Answered:Yes. As an American citizen you are taxable on any worldwide income including if you were not resident in the U.S. You also have to report your offshore accounts amounting to $10,000 and more. Singapore does not tax interest on bank deposits earned by non-residents, so you have to pay taxes at home. Short-term capital gains are taxed as ordinary income. Long-term - at a lower rate. You are welcome to ask for more details at http://www.isla-offshore.com It's a free consultancy project. Miguel Said:What is the tax...

    Tax Refund Calculators

    Tamara Said:Can my dad expect a tax refund on Social Security/disability?We Answered:Unless he had other taxable income, it is pointless taking deductions for medical and interest expenses, since there is no tax to refund. According to the IRS: You may qualify for a minimum payment of $300 ($600 if filing a joint return) if your tax return reflects $3,000 or more in qualifying income - which includes non-taxable Social Security disability. BUT YOU MUST FILE TO RECEIVE THE REBATE, even if you are not required to do so. See the sample Form 1040A at the link below: http://www.irs.gov/pub/newsroom/1040a.pd… Alternatively, the IRS has announced an electronic free...

    Tax Refund Help

    Dolores Said:Can someone help me understand the new tax refund check?We Answered:If your income is low enough, you can file taxes just to get a refund of all withholding and pay nothing in taxes. If you are getting MOST of your taxes back in a refund, then you must be paying some taxes, so you are paying. As far as the rebate is concerned, you must have earned income of at least $3000 to get the minimum rebate of $300. However, if your parents claim you as a dependent, you will be ineligible for the rebate, but you may still benefit...

    Tax Return Electronic Filing

    Scott Said:what is involved in correcting electronic tax return for dependent?We Answered:Since his return was rejected, all he needs to do is correct the error and e-file it again. When a return is rejected by the IRS it hasn't been filed. You simply correct the error and resubmit it for e-filing. There won't be any penalties unless he owes any income tax with the return. With $1,500 in wages, that wouldn't be the case. If his income was from self-employment or unearned income then he will owe some tax, plus penalties for late filing and late...

    Tax Return E Filing

    Matthew Said:E-filed like an idiot and getting a low return. Can I refile my tax in the same year?We Answered:Your "tax consultant" sounds rather suspicious. If he or she knew what they were doing they would have explained to you that you need to file an amended return on Form 1040X. What "deductibles" are you talking about? If you're having to guess about this, you need to get smart about your taxes! Filing a proper return is YOUR responsibility and YOURS ALONE.Jane Said:I amended my tax return with Turbo Tax after e-filing two days ago. Is that all...

    Tax Return Filing Free

    Bernard Said:If I filed with Tax Act for free online will my return go to Republic Bank?We Answered:Sounds like you're fine and will have $ deposited directly into your acct. And you should be very thankful! LOL This thing with Republic is a mess. And for all the rude trolls... yes ppl are well aware there is a free "version" on taxact. Fed return is always free. Some of us elected to have last years return info imported onto this years forms to save some time and research... that carries with it a fee. ...

    Tax Savings Bonds

    Wallace Said:Did you know 2010 tax refunds will be paid in savings bonds unless...?We Answered:Interesting. I found an article that states in the 2011 filing season (2010 taxes), "the IRS has announced that in 2011 taxpayers will also be able to save on behalf of other people, such as children or grandchildren." However, there will be tax on the interest on these savings bonds upon redemption. http://finance.yahoo.com/news/As-Rainy-D… This next article states that "An estimated 100 million people receive income tax refunds from the federal government every year. If even a small percentage elect to receive bonds instead of cash, then the...

    Tax Saving Bond

    Casey Said:Which is the good Mutual Fund for Tax Saving & Investment purpose?We Answered:Since you want tax saving you must be in a high tax state and are looking for a Municipal bond fund, would have to know your state. Focus on lowest expense ratio for this type of fund.Stephen Said:Tax saving without having a Mortgage?We Answered:Ways to save on taxes: Put the max into your 410K account at work. Put the max into your tax-deductible IRA - most people 5K a year. Forget the mortgage deduction. Think about it this way. You give a company 10,000 a year in interest You only get back 2,500 ^^ Not...

    Tax Saving Bonds

    Lydia Said:Tax Saving Bonds for FY 2007-08?We Answered:Salt River Project bonds. 30 years. good interest..Mitchell Said:If I invest the long term cap gain under sec54, do I have to pay tax & on what amount after the bonds mature?We Answered:Mr. Ikki is right to some extant. Regarding interest on the Tax savings bonds, you will be either getting interest every year or the interest may be accumulated to your account. In any case, you have to show the interest on your bonds as your income for that particular year and you have to pay tax on interest. At the time...

    Tax Savvy For Small Business

    Brad Said:Questions for small business owners?We Answered:Just a few? This is more than a few! I need to kill some time, so I'll help you out :) Was there a particular incident that led to your decision to start a business? I worked for a series of small businesses and realized that I knew how to run a business better than my bosses. What person influenced you as you developed your business? No particular person, just the realization that I was completely capable of doing it on my own. How did you decide to start this particular type of business? I went with my area of...

    Tax Strategies For Small Business

    Billie Said:I want to quit my job to start my own business or look for another job, but I am so indecisive. My indecision?We Answered:I dealt with this years ago under different circumstances. But it was the same "comfort-zone" problem. I started the basics, planning, preparation and production for my own business while still at my day job. (The country was in recession, other employers didn't look very good).This gradual strategy lessened the risk, and was a good psychological help. Once you can see that the transition to your own business or other employment can be successfully accomplished, you'll be more...

    Tax Tips For Small Business

    Sam Said:Where can I buy merchandise for a small business?We Answered:Check out http://www.digital-women.com Rebecca's site is chock full of information - including an amazing resource book filled with wholesaling resources - where you can find just about everything under the sun to buy at wholesale and then sell retail. Also, don't forget to check with your local business licensing department, to find out if there is a special license or other regulations you'll need to follow - and they can give you solid advice about how to get started. Check out your local Chamber of Commerce - not only can they be a...

    Tax Withholding Calculators

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    The Gift Tax

    Bruce Said:What would the gift tax be on this property?We Answered:The person who gives you the property is the one that pays the gift tax. They pay it based on the fair market value, apparently $277,600. That's way over the $13,000 they can give you, so the tax is based on that $286,300. See form 709 for the math.Alberto Said:How much is the gift tax charged in india?We Answered:you don't have to pay any gift tax. gift tax is for those gifts which are highly priced like properties, real estate, precious metal bars & stones, automobiles and the like. gifts tax...

    The Tax Lawyer

    Jimmy Said:The difference between a tax accountant and a tax lawyer?We Answered:A "tax lawyer" is a lawyer who specializes in tax matters. A "tax accountant" is an accountant (or, in some states, a person) who specializes in tax matters. (In most states, there is no requirement that a tax preparer have ANY training, and there are some states which, although they _attempt_ to regulate use of the term "accountant" to refer to CPAs, may be unsuccessful in that regulation attempt.)Travis Said:How much does a tax lawyer cost?We Answered:I agree with the other answerer...except I think it's going to be closer to the...

    Triple Tax Free Bonds

    Anne Said:are all treasury notes double tax free(Federal & State). thank you?We Answered:Actually, they are 'double tax free', but that doesn't mean what you think. They are free from state and LOCAL taxes, but subject to Federal tax. Municipal bonds, those issues by cities or towns, are usually TRIPLE tax free. That means they are not subject to ANY income tax.Frederick Said:Complicated question with cd rates and muni bonds? HELP!!!!?We Answered:By investing in a tax free muni bond, you forgo some interest in return for tax savings. Is that worth it? Depends on your tax rate 1-(15/21)= 28.57% So. if...

    Uk Tax Calculators

    Tammy Said:how much tax do i pay out from my wages?? what is the percentage taken away? I live in the uk?We Answered:17.5% off your wagesPeggy Said:Hi there..UK only plz ...How to work out how much tax you pay?We Answered:Starting Rate is 10% - if you earn up to £2,150 pa Salary Basic rate is 22% - £2,151 - £33,300 Higher rate is 40% - £33,301 and above. So for example you earn £25,000pa, you get taxed at the basic rate of 22% If you earn, for example, £36,000pa, you'd get taxed 22% on the amount up to £33,300 and then you'd pay higher...

    Uk Tax Form

    Joel Said:On the tax form it says you must inform the tax office (UK) if you have spent more than three months abroad?We Answered:There are probably several reasons. It is a couple of years now since I have processed Tax Returns, and I haven't seen the latest print, but my guess it is 1. in case you had any foreign earnings, 2. depending how long you spent abroad, could affect your UK residency and tax allowance entitlement, 3. would explain why your earnings have decreased so much from the last tax year, and are less than people in similar businesses.Pauline...

    Uk Tax Help

    Brent Said:UK Income Tax issues - help!! ?We Answered:I would guess that as tax office didn't receive what you sent, it is considered that you have been self-employed all that time. Presumably the amount of £7000 includes penalties, and tax/NIC on estimated self-employment earnings. It is possible to at least try to reconstruct. HMRC may be able to track down Revenue copies of any forms SC60 your contractor submitted. If you were in the building trade subcontracting it is unlikely you would have had much in the way of invoices, it would have been all SC60s. You will need to supply all...

    W2 Tax Form

    Rafael Said:Great,someone threw w2 tax form away away, I can't get another one.?We Answered:this person answered the question before: http://answers.yahoo.com/question/index?… "The other answers are right to an extent. The easiest and most accurate way is to call your employer and get a "reissued W2". However, if you worked for someone you can no longer contact, or if the company doesn't have a copy for some reason, then you need to get a "transcript" from the IRS. This is free, and will have the information from your W2, though not in the same format. An IRS transcript is the same as a...

    W2 Tax Forms

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    W4 Tax Forms

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    Which Tax Form

    Vicki Said:Which tax form to use for people on disability?We Answered:MukatA gave the right answer. Determine whether she is on SSDI or SSI. If it is SSDI she qualifies for the rebate. She will need to file Form 1040A. If she is on SSI, she will not qualify and, unless she has other income, she need not file a tax return this year.Leslie Said:Which tax form do I need to fill out for the gains I've made on stocks?We Answered:A 1099-B is completed by your broker and sent to you (and the IRS). You then use this...

    Withholding Tax Calculators

    Terrance Said:Any way to reduce my Self-employment tax that I pay without decreasing my Income?We Answered:There is no options here. If you were a wage earner the same amount of tax would be due but it would be paid by withholding and the employer's share.Jonathan Said:Anyone know where I can get a income tax withholding calculator?We Answered:Sue, Here you go. http://www.breedlove-online.com/Jordan Said:How can I calculate MA State tax withholding? Does it take into account 401k contributions?We Answered:You will need to do the calculation on what you expect your 401k contribution to be each pay period. To keep it simple, suppose you...

    Withholding Tax Form

    Christine Said:how can i retrieve a W4 tax withholding form?We Answered:http://www.irs.gov/pub/irs-pdf/fw4.pdf?p…Valerie Said:how to increase State Income Tax Withholding in massachusetts?We Answered:The Massachusetts state income tax witholding form is Form M-4, similar in function to the federal W-4.Joyce Said:What do I need to put on my New York State IT-2104 tax withholding form to increase amount withheld from pay?We Answered:Reduce your allowances to zero (0) particularly on the part-time work..Kyle Said:How do I provide a w-2 tax form for my employee in california?We Answered:you need a W-4 from her (with her name, address and social security number). You also will need...

    Withholding Tax Forms

    Emily Said:Tax withholding on which type of income?We Answered:When you file your tax return, if you don't have enough paid in based on your total tax owed, then you can be subject to penalties for under-withholding. The IRS doesn't care where the income came from, or where the withholding came from. If you don't have a job that withholds income tax, or if the withholding isn't sufficient, then you should make quarterly estimated payments using form 1040ES.Becky Said:federal tax withholding forms?We Answered:It's a w4 form you need. Go to irs.gov and you can find it there.Clyde Said:What does...

    Wi Tax Filing

    Sheila Said:Does anyone know any FREE e-file sites online that I can file my tax? What does Wi mean? Thanks very much?We Answered:I filed my taxes on the IRS website. They provide free tax filing on thier website as long as you made less then 52,000 I think it is. Go to IRS.GOV and look for it to say file for freeSalvador Said:When people start to get tax rebate checks around may to july how will the checks be delivered for married, wiWe Answered:If you typically file jointly, you will probably get one check in both names, so you...

    Wi Tax Forms

    Ted Said:Which form do I send for my STATE taxes in WI- 1A or 1040EZ?We Answered:For WI if you e-filed you should not have to mail anything if expecting a refund unless form W-RA or payment is required. If you owe tax and paying by check, Form EPV should be sent with the check to Milwaukee. http://www.revenue.wi.gov/faqs/pcs/e-faq… When federal e-filing do NOT mail your 1040EZ. The 8453-OL should either be sent to the address in the acknowledgement you receive(d), or the address on 2nd page of 8453-OL (Andover, MA). However, if you owe tax, Form 8453-OL should be included...

    Working Tax Credit Forms

    Rebecca Said:Childcare - Busy Bee Voucher -v- Working Tax Credit ?We Answered:I am so confused and HMRC refused to advise me ! Imgine i was there with the little ones they said "NO ADVICE " and they even refused to plug in our portable DVD player as it had not been tested for HMRC compliance ! Incredibly unhelpful !!! Well, i woul try the vouchers, less froms to fill in/. but fill them in any way, CLAIM ALL YOU CAN ! UK is SO mean and cruel and it is so hard to bring up kids when working and UK people are so unhelpful (you...

    Wv Tax Forms

    Zachary Said:Will anyone who file will get tax credit after purchasing hybrid car?We Answered:If you purchased a new hybrid vehicle after Jan. 1, 2006, you should qualify for a US Federal income tax credit, thanks to the signing of the big Energy Tax Bill of 2005. (You may run into issues if the credit is more than your tax liability, or if you hit AMT.) Amount depends on the hybrid that you purchased new, and when you purchased it. http://www.irs.gov/newsroom/article/0,,i… http://www.irs.gov/newsroom/article/0,,i… The IRS hasn't come up with the 2006 forms and publications yet, but the first link suggests that you'll have...

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