Tax Help

When will America legalize and tax marijuana (federally) to help balance the budget?
Why not.. They do it with tobacco and alcohol...

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Why do some economists believe that tax cuts are critical to help revive an economy experiencing a recession?
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if you set up a personal fundraiser to help defray medical costs, do you need a tax exempt number?
My son suffered a devastating injury and the specialist is out of network for our insurance. We have an out of network clause but, the expenses are still more than we can afford. He is the only specialist in the area Do we need a tax exempt ID# or a 501(C) (3)?...

clogher:You'd better be talking to a lawyer and/or an accountant.... More...

Why are Middle Class Independents supporting Republicans when they want to TAX YOU MORE and the rich less?
The Tea Party an the republicans are planning to get rid TAX LOOPHOLES that help the middle class once these loopholes are gone whos gonna be hit harder a billionaire a millionaire or someone making 50-60k a year? hmm i wonder folks good job supporting the tea party middle class independents your gonna get exactly what you deserve a tax increase...

David_the_Great:The answer is no. We want freedom from the government. We want to cut spending and pay down the debt. How do you define someone rich based on a yearly income of $250,000? DTG... More...

tax credits help please?
I claim child tax credit as I have 2 children. My partner works full-time and I am a stay at home mum. I have been getting about ?4,000 for the last year, and have just renewed my claim for this year. The problem is, I have since discovered this new thing where anyone who earns over ?15,860 a year has 41% deducted from their claim from now onwards. I am now seriously worried about how this will affect how much I get for this year, compared to last year, as we really couldnt manage with much less...

Back to the drawing board:No, don?t worry, what I think you've heard is that the ?taper? went up from 39p in the ?1 to 41p in the ?1 this April, not 41% taken off your claim, so it will go down a little bit but not that much. That?s just how it?s worked out and the taper applies to every ?1 above the threshold income which ... More...

Anyone who knows anything about tax, PLEASE HELP?
Last year in september i started what i thought was a plumbing apprenticeship, but it turns out it wasnt an apprenticeship, i ended up self employed. Then i was laid off in january and been out of work since. Now i need to send off my receipts that i paid my 20% tax off or something and i dont have them and cant get hold of the bloke who does. i definitely paid tax as i lost 20% off every pay slip, but im really worried now as i have no proof. Im only 17, and i havent got the slightest clue!...

Petrusclavus:No CIS certificates - go direct to Citizens Advice Bureau. The "employer" has vanished, no NI credited. Either CAB or tell HMRC and let them start an investigation.... More...

please help me in income tax problam?
I want to buy a car which cost 4lac, if i buy this in cash is there any problam in future , last year i filled my it returen of 183000. plz adveced me....

Michael Frayn:Hello, Everyone, Seeking your help for Calculation of Tax on car .Access to years of such problem discussion data and business material at your finger .Please let me know how to calculate the Income Tax deduction.... More...

Which would help the economy more - (1) A $40K tax cut to a millionaire or (2) Giving four bums $10K each?
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Can anyone help with my self assessment tax return?
I am in full time employment working for a company but I wish to do private work on the side. I want to pay tax on this private work and have been told that I need to fill a self assessment tax return. I have now got the relevant forms but can't find where I am supposed to enter my part time work. It seems to be set up for full self employment, not part time. When I filled out the form the end result was no tax which is wrong because I have had a fair bit of private work. Any help would be appr...

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Need tax file number but lost Australian Citizen ship number? (NEED URGENT HELP)?
I need my tax file to obtain a working position at BIGW. However I was not born in australia. In the form it says to present my australian citizenship number. (through the process of moving hoes, my mother has lost mine) also my father does not have it. (divorced) It also says i can show my "foreign passport but i came here when i was like 1 or something and didn't have a passport. I have my interview tomorrow. Where can i go to seek help to get my citizen ship number?...

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Please help in filling the tax form (ITR-1) ? I have form No. 16.?
I have received "form 16" from my employer. I am really confused - can anyone tell me mapping from "form 16" entries to "ITR-1 form" - which data goes where ?...

guptaraj:If your Income is only from SALARY, Form No.ITR-1 applicable.you can do file your return on line too.log on to www.inocmetaxindia.gov.in. For more, details you can consult your CA.... More...

Help on a tax problem?
Roger dies on March 3, 2011. Which, if any, of the following items is not included in his gross estate? a.Interest earned (after death) on City of Houston bonds. b.Cash dividend on stock owned by Roger?declaration date was February 5, 2011, and record date was March 2, 2011. c.Federal income tax refund for 2010?received on March 5, 2011. d.Insurance recovery from theft of sailboat on March 4, 2011....

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tax credits renewal. help please!?
does it matter that i earned 4500 this year compared to 4680 last year. is it ok to earn less or should i put that i earned 4680 again?? thanks...

layla h:just put down what u erned it shouldnt make much diffrence. You might notice a slight change in how much you get each week you'll proberly get a little more as u hav earned less.... More...

Help me with tax question?
Henry Hill was a highly skilled UConn basketball player. Before he signed with the NBA in 2010, he had his attorney set up a separate corporation, Basketball Pros, Inc. Henry signed a contract with Basketball Pros in 2010 and assigned all of his services in professional sports in exchange for a monthly salary. Basketball Pros then signed a multimillion dollar deal with the NBA to license Henry?s services to the Boston Celtics. Henry included his salary from Basketball Pros on his 2010 1040. The ...

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does raising taxes help the economy?
just wondering but does raising taxes help the economy?...

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Tax help???
I have been working since May 30, 2007 and I got my taxes done and will be getting back a little over $600 but people keep telling me about some other kinda tax money we are suppose to be back. What is it and do only certain people get it? I am single/no kids 19 years old been working a little over 8 months...

nystom:There are credits available for working people. Specifically the Earned Income Credit. It depends on your status (single, head of household), whether you have kids, and how much you earned. Need more details to answer.... More...

Help on this tax question?
Ginger dies on April 30, 2011. Which, if any, of the following items is included in her gross estate? A.Rents for the month of May (received on May 1) on an apartment building she owned. The alternate valuation date of ? 2032 is not elected. B.Rents for the month of May (received on May 1) on an apartment building she owned. The alternate valuation date of ? 2032 is elected. C.Insurance recovery from a fire which occurred on November 1, 2011, and destroyed Ginger?s residence. D.A loan mad...

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tax?????? help.?
how much would tax be on a item 34.99, sorry, i stink at math. in united states(:...

LD:sales tax is dertimed by the state and city in some areas. so what state and cityare you buying it in? also with out knowing what the item is i would not be able to tell if it is going to be taxed. like some state tax clothing while others don't... More...

Tax Help????
I moved in late April-early May of 2006. Which address do I use for my tax refund, my old address or the new one?...

TaxGurl:The new one. They will send your refund (if you get one) to the address you list. If you moved states, you will need to file state taxes in both states as a partial year resident.... More...

Tax HELP !!!?
I started filing my tax return through turbotax and its saying I owe $2626 after its all said and done. I'm living paycheck to paycheck here. I work 6 days a week to make ends meet I don't understand how the government says I should be even poorer. Anyone know what I can do? This is bull$h%t...

redhawgs:you have to shell out the cash to a reputable CPA to get the answer. good luck to you.... More...

Can you get a tax rebate for TOMS shoes?
I'm trying to give my mom reasons to get the $89 botas I want before I go back to school. It might help if she can get a tax deduction/rebate, I'm not sure what it could be considered as....

tro:of course not... More...

tax...........help.........?
Okay my friend was looking over her tax form at work... She noticed that she must have hit the Exempt button on the site for her tax when she was setting it up at work.. Well she said it had to have been on for about 7 months.... She now unclicked the Expemt button... What will this do to her taxes??????? Thanks in advance I apologize however I must have missed clicked something on the catagory.. Thank for your help though I apologize however I must have missed clicked something on the catagory...

Judy:Andrea, where are you really? This question is posted under India, and some previous ones have been posted under UK and US. From the context of your questions, sounds like US. If she doesn't make enough to owe any tax for the year, it won't matter. But if she does, she is going to come up very s... More...

TAX HELP!!!!!!!!!!!!!!!!!!?
I need to find somewhere online that i can get step by step instructions for fileing taxs on paper.. I cant use turbo tax or handr block.. What i really need to know is Where i can find Worksheet 5 on page 22 for the 2008 homestead property tax credit???? Please help me even if u can tell me where i can find the worksheet???...

coltqueen:start with irs.gov. if you have the paper form you should have picked up the instruction booklet with it. http://www.irs.gov/pub/irs-pdf/i1040gi.pdf... More...

please help me , in this debt crisis will income tax increase or not ?
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Huntsman:Not directly. They will find ways to give you less tax deductions. Such as taking away the home mortgage interest tax deduction. I would be more worried about inflation and higher interest rates... More...

TAX help!!?
Can a person who has knowledge in the "tax field" explain to me what is a "TAX RETURN FORM", a "1044 FORM", a W-7 FORM", . Does my employer already have one of the forms mentioned above...and i just have to ask for it in order to report my income???? [F.Y.I] When i first started working at my job I remember filling out some tax form BUT i forgot which one it was.....does anyone know what form it could have possible be??...(p.s)im pretty sure it's a form filled out by all people when they first ...

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TaX HELP!!?
-I HAVE WORK AT 2 PLACES DURING 2007, SO THEREFORE I HAVE 2 DIFFERENT EMPLOYER IDENTIFICATION NUMBER (EIC) ON EACH W2, WHICH ONE WOULD I USE ? -DO I COMBINE THE INCOME, LIKE WAGES TO WAGES, MEDICARE TAX TO MAEDICARE, SO ON, AND TOTAL IT AT? -LAST QUESTION, MY TOTAL INCOME IS ABOUT $5200, DO I NEED TO FILE A STATE(CALIFORNIA) RETURN TAX?...

FRAGINAL, JTM:You can declare your income for 2007 in one return but you have to indicate that you received income from two employers.... More...

My PAN Card Number is BNIPM7088N ,What is My Service Tax Number?
I need my service tax number. I'm not a taxpayer person, My PAN Card Number is- BNIPM7088N .I'm From Murshidabad,West bengal Please Help me.... I want to know my service tax number. If i have to apply, then please tell me how to apply for it. Thank You for your Help....

goutam aich:Your Service Tax number may be BNIPM7088NST001 or BNIPM7088NST002 or BNIPM7088NST003. please check your service tax registration letter received from the service tax authority.... More...

You think we will all lose our homes due to Obama wanting to take money from us to help illegal immigrants?
I feel like he will just keep taxing us and foreclosing on our homes to help his illegal immigrant friends so he can gain voters. I worked so hard for what I have, and I feel I'm losing it because of him. As an american born citizen, I should not have to fight to keep what is mine. I've already lost a lot because of him....

Mr Orange Kitty:If you are losing your home it is because you got into a mortgage that you could not afford. Don't blame the president. He has done more to help the unemployed and those on the brink of foreclosure than any republican would have. Illegal immigrants are not responsible for your debt.... More...

If you are self employed, and want to buy a bike and buy now pay later, what does offset against tax mean?
Hello, I am self employed, and From halfords I want to buy a racing bike, but I asked can I buy now pay later? They said no take this leaflet and sign up to cycle2work, I did but you cant do self employed people, but they said, what you have to do is buy the bike then offset it against tax. I dont no what this means, And what you have to go through with halfords etc. Please can somebody help. Thanks Harley Robson...

Zarg222:yuo will have to pay cash or get a loan... More...

if i file inocome tax 2 yrs late, will it immediately show up to lenders as income those years once filed?
that it... i was paid sort of informally. I was thinking it was would be counted as a gift, because it was a personal friend doing to sort of"employment"... now i'm thinking it would be good to go back and pay taxes on this money for the last few years... once i do that...will it show up to potential lenders for mortgage as income for each of these last few years automatically? in other words does it help me get a loan?...

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How much federal tax will be taken off if I make 23,000 a year as a single filer?
I'm not sure how to calculate all of this correctly. I live in CT and would lose 950.00 a year for income tax. What will be taken out of my paycheck during the year for federal taxes, and what exactly is included in federal tax deductions? Will my tax deductions be less if I mention my medical co-pays/insurance premiums and prescription costs? So confused! Any help is appreciated!...

Bob F:Somebody else's dependent or not? Non-dependent: 9500 non taxable, $8200 or so at 10%, $5300 or so at 15%, about $1625 Dependent: 5800 non taxable, $8200 or so at 10%, $9000 or so at 15%, about $2200 _... More...

Would you support a tax on energy to help global warming?
If Obama wins in November 2008, and the Democratic Party continues to have control of the Congress I understand that they plan to put a tax on energy to pay for development of alternative energy and discourage use. Of course this could mean a tax on gasoline and your energy bills at home. The Democratic Party will insist that the money will be set aside for research and development of alternative energy. They say the taxes will encourage people to use less energy that will limit global warming...

SG:I don't support it. The law of supply and demand dictates, that at least to some degree, demand will go down as the price continues to go up. And as gas prices go up, alternative energy will become more attractive. Even now, alternative energy tends to cost more to produce than good-old-oil, so t... More...

what is the best income tax software to use for my new tax business?
i'm starting a small tax business. I'm going to finish my tax classes in december and i need to know what are the best tax softwares to use. thanks for the help. optitkl thanks for helping me... jerk. everyone thanks for the support you are not giving me. judy thank you so much....

Judy:I have used TaxWise for several years, and it seems to work well. It's the only professional tax software I'm familiar with though, so there might be others that are much better. Ask your instructor - you might get some good advice there.... More...

What are the tax benefits for my situation?
I am paid a salary to go to grad school. A got a w2 for this salary a few days ago. In addition, the tuition is paid for but is considered taxable. I also received a w2 form for this tuition payment to my school. I have a few odd quesitons that hopefully someone can help me out with concerning taxes. I'm used to paying my own tuition in college and then taking the credit later when taxes come. In this case however do I get the same lifetime learning credit? My employer sent a check to my schoo...

Muga Wa Kabbz:A tax accountant would better answer your question. However, if you went to school part time, then the 10,000 your employer paid for tuition is considered income; I think there may be taxation on fringe benefits.... If you went to school full time, it may be a tax write-off, only if the training i... More...

What is the Amount of Income Required To File a Tax Return?
Hi, (1) Can somebody please tell me what amount of income requires you to file a federal & state & social security taxes for each of the year since 1990 ? ( I mean filing Requirement for an unmarried single Person ) I need to know for each of those years.I am single unmarried individual. (2) If my income is below the filing requirement amount, am I still suppose to file for a state tax return ? If yes where can I get the tax rate table & forms for all those years ? (3) If income is below the...

ninasgramma:(1) If you are a single, unmarried person with no self-employment income, and not a dependent, the filing requirements by year are: 1990 5300 1991 5550 1992 5900 1993 6050 1994 6250 1995 6400 1996 6550 1997 6800 1998 6950 1999 7050 2000 7200 2001 7450 2002 7700 2003 7800 2004 7950 2005 8200 2006 84... More...

What are the income tax rates for the tax deducted from your monthly salary in the Philippines?
Any ideas? I am referring to the tax deducted monthly, not the tax you have to file and pay to the BIR each year. Really appreciate it if you guys can help WHUDAFX - > well, in terms of choosing an avatar, I would say you have good taste ;) Ja-na-> Thanks for your help,I already saw this page, but I think the rates there are those that you have to file each year. I'm looking for the rates that they deduct from your salary each month. Because if you look at the site, the tax rates there are too ...

junior:in the case of taxes from compensation, your accountant must determine your whole year taxable compensation, and from that amount personal exemptions will be deducted. the amount will varry wether you are single, married, head of the family and additional exemptions for dependent children up to a m... More...

How would solar federal tax credits benefit the owner of a S corp?
A business that puts in a solar energy system is entitled to a 30% federal investment tax credit. I am not sure if or how this could benefit owners of an S Corp. I am also wondering the same about C corps and LLC's? I was told that solar tax credits would have no benefit for S corps and the like because they typically do not pay any corp income tax. I am not sure if this is true. Thanks for any help with this....

Bob F:This credit would benefit the owners of an S corp on their personal returns as their share of the credit would be passed to them on the Schedule K-1 that they would receive from the S corp. In the case of a C corp, it would be a credit against their tax liability just like any credit. As far as an... More...

How much tax is taken out of my check?
I am payed $8.50 an hour and work 10 hours a week. My first paycheck comes in on the 1st and I was wondering how much tax will be taken out. I have done research on the internet and haven't found anything to help me out. I am 16 if that has anything to do with the tax takeout. Thanks!...

mukwonago53149:You had to fill out a W4 form when you started and they asked how many dependents you have. Since you're only 16, that means your parents are probably claiming you, so I bet you put down "0." Go back to your employer and write down "exempt" instead. You won't make enough money in a year to pay in... More...

How much tax percentage-wise should be taken off from my check?
It is a salary position that pays weekly. My tax is about 22% of my pay check!! Is that right? How does this tax thing work? Are their returns or do they just take it out of my check? And advice would help! Thank you!...

PepsiLime:www.paycheckcity.com is a paycheck calculator website that you can use to check and see if what is being taken out is the proper amount. But just to let you know, Social Security and Medicare tax are 7.65% of your paycheck, so that leaves about 14-15% for federal and state withholding taxes. Which m... More...

How do I set Tax calculation key on Casio HR-150TE calculator?
We have a business, but seldom have to add tax. We are coming to a specific situation that we need to add a local option sales tax, and my calculator has Tax+ or - keys, but I've lost the manual and don't know how to set the keys! Would appreciate help. Thanks!...

PepsiLime:You might want to try asking this question in an equipment section, rather than in a tax section.... More...

How can I find a good tax professional in Mass?
In this tax paying year I had four different jobs in three different states; therefore, I believe I need a good tax professional to help me file my taxes. My problem is that I do not know how to find one and what will make a good tax professional "good"....

Hank Roitman, EA: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 educa... More...

How do I get on Turbo Tax after changing computers?
I loaded Turbo Tax 2005 with no problem to my home computer (that has since crashed) and was able to do that years taxes. I was able to do 2006's taxes on that computer as well. With the help from the TT website, i've transferred the information to my laptop but cannot retrieve last years info to do this years taxes. I'm also not getting much help from TT. Help!...

kim:you will need your user name and password and probably your AGI from last years tax return....did you keep a paper copy?... More...

How do tax free weekends affect the government?
How does tax free weekend help the state government? How does it hurt it? How does tax free weekend help the local government? How does it hurt it? How does the tax free weekends help and hurt the local and the state government?...

the kid:It reduces the amount of tax they collect.... More...

How do I file the tax return if 50% of the profit need to give to my partner in Japan?
I started an online businees one year ago and at that time I don't have any money so my relative who was willing to support me and give me the start up money about US$10000 for starting and we both agree that if we make profit, I only take either 50% or maximum US$5000 monthly. And the rest of the profit will T/T wire to him in Japan. How can I report this tax, do I need to pay taxes on the money I wire to this partner, can I claim that is an expense. Please help me. I don't want to be illegal b...

tma:If you established a partnership, money you send him is not an expense. It's a partner's distribution. It will reduce his basis. It is not taxable to him unless his distributions exceed his basis. The money you send him is not taxable to you either. You should be filing partnership tax returns ... More...

What is the best professional tax software to use?
I have done taxes for the past 2 years, however I have worked for H&R Block. I have prepared taxes seperately but just used the free online software. I am now opening my own mobile tax service and would like to know which professional software is the best and inexpensive? I have looked up Drake and others but everything is about $1000 i was hoping to spend about $200-$400 on the software. Can someone out there please help me find the best software for my budget....

tro:H/R has a program on the shelves called 2nd Story Software also has one called Tax Act, I have used both and prefer this one the other major ones, ie Drake etc are quite expensive but very good, if you have a lot of clients and need help, they are excellent in response... More...

what are the tax implications working in Canada and living in the US?
I have a job offer in Canada, and I am not sure who to talk to about the the tax situation. Will I have to pay Canadian taxes as well as US Federal and state etc...........Any help would be appreciated. If it matters I live in the greater Detroit area....

Mephistopheles:There is a double tax treaty between the US and Canada. One of it's purposes is to avoid double taxation on the same income. The relevant part of the treaty dealing with employment is: "Article XV Dependent Personal Services 1. Subject to the provisions of Articles XVIII (Pensions and Annuities) a... More...

What are the tax advantages to starting a small business?
I have been thinking for a while about starting up a small business, based out of my home. It will basically be a mobile auto service business. I have heard lots of stuff about tax advantages to starting up a small business. I have also heard that you can write off a vacation once a year as a board of directors meeting. What are the facts about tax advantages for small business, or where on the web can I find this info? Any help is greatly appreciated!...

Sally U:Your expenses are deductible against your profit. If after the math, you have a net loss from the business, you may deduct this loss against any other income (such as wage, social security, or investment income) on your 1040. There are some limitations depending on the type of business (e.g. passi... More...

Can I take tax credit for my childs school fee and other school related expences?
My daughter is going to a private school in Nevada and my tax guy says that we can't claim school expenses in our taxes. Is that true? I would appriciate any help....

the tax lady:K-12 private school gives you $0 deductions and credits on the 1040. Private college would get you a possible credit for tuition only.... More...

What is the per child tax credit for each of the last 7 years?
We are helping a family that has not filed taxes in the past ten years and now will. They are not deadbeats, they've got their W-2's and based on the W-2's they have overpaid a tremendous amount to the IRS. They just need help to file. Please help us (their new church members) find the per child tax credit (USA) so we can help them file their taxes and get some refunds....

the tax lady:This is the downside of not filing. The IRS doesn't run after you if they realize you would get a refund. Refunds are possible for 2005, 2006 and 2007. They would still file the earlier years to prove they don't owe money. If they have children under 17 then they were eligible for the child tax ... More...

Is the child tax credit and economic stimulas check deposited at the same time?
I got my rebate check direct deposited this morning, however it was only $1,200, we have two children thus it should have been $600 more. My accountant said it would be $1800 when we got our taxes done, so that is what I expected. Could I be getting 2 seperate deposits-1 for the rebate check and one for the child tax credit? Has this happened to anyone else? Thanks so much for your help!...

Bostonian In MO:The Child Tax Credit is not a refundable credit. It can only reduce your tax bill to $0. Don't confuse the CTC with the $300 kicker for children under the stimulus plan. Although the qualifications are the same, the 2 totally separate. If your tax liability for the year was $600 or less (exclus... More...