Tax Help

Tax help.......?
How do you do Tax with calculator, is it 0.008% or 0.08% HELP!!!!!!!!...

tofuisgood_2000:.08 is 8% tax on a calculator. For instance if you would like to take 8% of $100, then $100 X .08 = $8. Another example is 9% of 600 = $600 X .09 = $54. Hope this helps.... More...

Can tax deductions help you qualify for earned income credit?
I usually get earned income credit, but this year I am a couple thousand dollars above the limit. I have lots of deductions and was wondering if this would help. Also want to know if turbo tax is as easy as they make it out to be?...

Scotty Doesnt Know:The IRS has a great tool on their website that helps you figure out if you qualify for EITC (also called EIC sometimes). The program hasn't been updated for the tax year 2007 yet, but will be soon. Here's the link that will contain the "EITC Assistant" as soon as it's released: Also, TurboTax IS ... More...

Can I tax deduct money sent to my country to help my mom and sister?
I've been sending around $1000 every month to my home country (Venezuela) to help support my mom and sister. Can I claim them as dependents on my tax return, even though they're not citizens, or residents. I'm a legal resident....

jc:no... More...

How do I find a tax table to help me know what taxes I need to take out of my pay. They won't be deducted
I need to know a site which can help me or a tax table so I can see and learn how to deduct them on my own. Any help is very appreciated. I have tried the IRS site and can't seem to find the help I need there, hoping someone would know the form or schedule I need to download and be able to do this on my own....

Judy:Probably the best way to do it is to download schedules C and SE and form 1040 for this past year (2007) and fill out a mock return estimating what you'll make this year. Your tax for next year will most likely end up a little less than that, but not much. Divide the tax on the 1040 by 4, and subm... More...

How will the tax rebates and reducing the interest rates help?
How will tax rebates work when the US will borrow the money from China at 11% interest and give it to Americans to purchase products built in China?How will reducing interest rates help the people who have been doing the right thing by saving their money?Reducing interest rates just helps out the banks who tried to rip off these people with loans they couldn't afford in the first place.I can't say I have the answers to the economy buy I feel these fixes will do nothing but make it worse....

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How do I get help for2006 amended tax forms?
I am applying for student loan they require an amended form for 2006 tax return, how can I get free help?...

Richard M:I'm not sure what an amended return (Form 1040X) has to do with a student loan. In any event, here are the forms an instructions to submit an amended return (Form 1040X): http://www.irs.gov/pub/irs-pdf/f1040x.pdf http://www.irs.gov/pub/irs-pdf/i1040x.pdf... More...

Can a tax professional help me reduce the amount of taxes I owe?
I owe a pretty hefty amount in taxes since I am self employed. I usually do my taxes by myself on turbotax. If I use a tax professional, can they help to pay less? by tax professional I mean an EA...

tofuisgood_2000:Tax professionals know additional deductions and credits that you can take. They may also know how to handle certain transactions that will affect you less on taxes. As far as if they are magicians and can magically make your tax liability, the answer is NO. If they claim to be able to reduce you... More...

How about a war tax on gasoline of a buck a gallon to help pay for the wars in Iraq and Afghanistan?
These wars are dragging us deeper into debt with no plan for paying off that debt. Sacraficing some now will keep us from having a worse debt later. A war tax would also help ease demand for gasoline. Make it so the tax comes off when the troops come home and it might help speed things up there too....

broncobill79:I see what you are saying but I think the people are being taxed too much already. Quit the pork barrels and all the corruption and this country would make a heck of a gain.... More...

Is it good to use our tax dollars to help decrease divorce?
in recent years government programs supported by tax dollars have been implemented in order to help decrease the number of divorces in the us is it a good use of tax dollars...

bostonianinmo:How do you reckon that tax policy reduces divorce rates? Actually in many cases it can drive the divorce rate UP, not down. Take a couple on Social Security who have a moderate retirement fund on top of that. The can save thousands in taxes by getting a divorce due to the way that Social Securi... More...

How does the stimulus tax refund help the economy?
How does the stimulus tax refund help the economy, why doesn't the US just pay off our foreign debts?...

RUS:It helps to keep GDP closer to potential level (so economy doesn't shrink so fast and unemployment doesn't rises sharply) by keeping demand higher (through higher disposable income).... More...

How do I select a IRS tax problem help cpa ?
What steps do I take to find an irs representative to help me with my delinquent tax problems of late filing and paying....

Wayne Z:If the returns have been filed and there are penalties and interest, there is not much that can be done. Whatever you do, do not call one of the "We Solve IRS Tax Problems" firms that advertise on TV. CPAs and EAs are slow right now so, if you want to, find someone locally and give them a call.... More...

Can some one help me understand Income Tax in New Jersey?
Hello there, I want to get a summer job, but I'm having a mental war over here with all these questions. A bit of help please? At what age do you have to start paying? Do minors have to pay income tax? How long do you have to work at a certain place before you pay? If there's anything else you think I might need to know about the whole system, I'd really appreciate some extra info. Thank you!...

shoredude2:There is no minimum or maximum age to pay taxes. There are one-year olds who are earning a good chunk of interest off inheritances that pay taxes. You can make up to $5,350 as a dependent of your parents and not pay federal income tax. You will have to pay Social Security and Medicare tax, no mat... More...

How can deciding how to receive income minimise the amount of tax you have to pay? Please help?
How do different forms of income minimise the amount of tax you have to pay? Please help...

Judy:Some types of income are taxed at different rates than others. For example, if you work as an independent contractor rather than as an employee, you'll pay an extra amount for social security and medicare. And long term capital gains are taxed at a lower rate than other types of income, so for exa... More...

i need a little financial help til i can file my income tax return?
i can file my income tax return the 1st two weeks of feb.2008. i only need 300 dollars to get me thru til then. my car insurance is due, my phone bill is due. i just need a little help. if someone would just give me chance, and trust me....

daddyjohndeer:Sorry to hear this,but i doubt anyone will be able to help you. Most ppl are scrounging to get by as it is and there is very little trust left to give. Your best bet is to scrounge up all you have and sell it on ebay and get some quick cash. They also have cash advances all over the USA (I dont reco... More...

Does anyone know a really good book that will help me with my tax courses im taking?
I started taking basic income tax courses for H&R block and the way they word things in the workbook is so hard for me to understand. Im wondering if anyone knows of a book that will explain things to me in lamens terms. YOur help is greatly appreciated....

mahal:No such thing. Taxes are complicated beyond reason. This is what makes the books hard to follow. You have to work at it and learn how to visualize what's going on with the forms. The hardest part is all the dumb rules and exceptions and the fact that they change a little bit every year. Have fa... More...

Help I need to find earned income tax credit for a dependent spouse?
Howddee! I need info about the EITC. I am disabled and my husband has supported me and continues to now. I read in Readers Digest that you may be able to get a tax credit for a dependent spouse or parent. Is this a fact ? What are the specifics? I know about the 1040A , there is no clause for a dependent spouse. Please help if you know how to break on through to the other side (yeah) of the what to do ? Thank you in advance for any ideas on how to KEEP OUR HARD EARNED MONEY most out of uncle...

theb!tchuhated:you'll need to file a form 2441, you can find forms at irs.gov if you do your taxes yourself, or just mention your situation to your tax professional... More...

Please help with the tax arrangement for gains from selling NYSE listed share. I am living in the UK?
I live in the UK for the last three years and own a NYSE listed share which I bought 3 years before. If I sell those shares, what would be the capital gains tax for those shares. Is there any specific treatment between US and the UK regarding tax arrangements in such conditions. Thanks for your help....

Paul S:as far as im aware you declare it on the foreign income pages and the CGT pages of a tax return as normal. if any foreign tax has been deducted in the US of A, then this can be deducted against any tax due in the UK. I think USA tax is about 15% but they may not deduct any as you should just recei... More...

Am setting up a new company. How can a TAX LAWYER help my company?
My friend advised me that because my company is involved in huge importation, a tax lawyer can help me lower down the cost of taxes that I pay. Is this true? How can a TAX LAWYER help my company? If it is feasible, then I might get the services of a tax lawyer on a retainer's basis....

taxxcpa:He could help you decide whether to operate as a sole proprietor, a corporation or as an LLC. He could prepare the documents needed to establish the business and obtain any licenses needed. If you can find a lawyer who is also a CPA, that would be best.... More...

Will the tax rebate checks help those with earned income tax credit?
could some one please help me? Will the proposed tax rebate be available to those that have recieved the "earned income tax credit"? I have a family of 4 and we earn less than $45,000 a year. would we still qualify for the tax credit? or are we disqualified? further explaining: we recieved a refund of over that amount... and it is me and my husband and two kids....

Richard M:The credit will not impact your rebate. Your rebate depends on your 2007 taxes and income. Under the compromise bill passed by the Congress, you would be eligible to receive a rebate of up to $1200 if you paid that much in Federal Income Tax. If you only paid $750 in taxes (less than the $1200 reb... More...

Can anybody recommend an online software which will help me with me tax returns?
I am self employed and stress out about my tax return every year! Is there any software out there which will help me with this?...

David R: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.uk... More...

A person who filed my income tax my income tax refund,gave me phony information,and opened an account.Help?
I later found out she rerouted my income tax check under a prepaid account under my name.The IRS,and local police won't help! What can I do?...

Charlie & Angie G:call 800-829-1040 pick the options for a tax law question. when the call screener comes on tell her you want to report tax preparer fraud. When the assistor comes on the line tell them the story. They will send you a form to send to the Fresno service center, sorry i don't remember the form #. A... More...

How does having a baby help out at tax time?
My uncle (CPA) explained to me that next year my husband and I will benefit from an automatic $1,000 tax credit AND we will get an automatic $3,000 tax deduction because we will have a baby this year. First of all, what is the difference between a tax credit and a tax deduction? B/c of our baby, can we expect 2 tax benefits that will automatically be granted by the government, or does this differ from state to state? Hypothetically, if we owe...say $1,000 in taxes this year for fed and s...

Judy:A deduction is subtracted from your taxable income before your tax is calculated. A credit is actually subtracted from the tax that you owe. For each dependent child, you get a deduction - for 2006 it was $3300, and will be a little higher this year. As long as the dependent child is under age 17... More...

Do you think bringing BCCI in tax net would help the government raise a lot of money?
Bringing BCCI in tax net would help the government raise a lot of money? Do you think government would be successful in their proposed plan?...

GargVK:A wise step put forward by the Govt to bring the BCCI in tax net,bcz BCCI earning now commercially and no charitable institution at this moment.... More...

Do business expenses just help to relieve Federal tax, or is state tax included as well?
When filing you tax return, do business expenses just help to relieve federal tax responsbility, or is state tax responsbility included as well? Thanks!...

starlight_chic06:On state tax returns, your starting number for income tax calculations is the net income for corporations and partnerships (or your adjusted gross income for individuals) from your Federal tax return, where you have already taken deductions for business expenses. From that number there may be som... More...

So how does buying a house help with doing my income tax return?
I just bought a house november 2007 and I don't know the hype about buying a house and having it help with my income tax? How are they related or what should I be applying for? I live in Round Lake, IL (Lake county)...

Ace Librarian: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 energy). This varies from year to year, so I would check with a tax professional or look at the current J.K. Lasser tax guide, available in many p... More...

Help me understand a tax deductible donation means exactly?
I've always been curious about what exactly a tax deductible donation does to your taxes. For example, let's say I earned 20,000 in 2005 and owed $5,000 in taxes, a 25% tax rate. Let's go back in time and say I had given $2,000 to a tax deductible charity. Would my total income be reduced by 2K to bring it down to $18K and then at a 25% rate I would have owed $4,500 in taxes? Or would the total tax I owed be reduced, so instead of $5,000 I would owe $3,000? Am I making sense? Please help m...

NotEasilyFooled:The US federal taxes you will owe will depend on whether you itemize deductions. If you take the standard deduction instead of itemizing, you get no benefit at all for the charitable contribution. If the charitable contribution is not made by cash or check, there can also be a reduction to the amoun... More...

Why should my Tax dollar go to help McCain?
86 million dollar of our tax dollars going to help McCain in his campaign. Why sould our tax dollars go to him. Most peoeple don't believe in his campaign....

larry:This country has tax issues!... More...

does personal loan help in getting tax deductions?
I am planning to take personal loan for a two wheeler. Will it help me in getting any tax rebate ?...

Princess:No. You can only get tax deductions if you take a home loan.... More...

Can anyone help me with the Netherlands tax system ?
Can anyone help me with the Netherlands tax system, I am an Indian and will be working in Utretch. My annual salary will be around 35000 Euro, what will be my take home salary. What is the taxation system for non-european ? What is the 30% tax system?...

Rob W:Your take-home salary is dependent on your personal situation. If you have the normal situation, you live in The Netherlands and the income is Dutch too then you will be paying taxes that will be deducted from your salary by your employer. Normally over the first ? 300,00 to ? 400,00 a month you w... More...

Help my condo property tax is wrong what do I do please read on?
I live in a condo in Brooklyn, NY. it is around 830 square feet. My property tax is around 5,500 for the year. In my building I talked to a few people and their apartments are bigger and with a view and they pay around 2,100 for the year. I called up The city of new york department of finance and I always get someone that says that property taxes are high and it is what my building management submitted when they built this building so I went to my building management and they said this has n...

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do you agree place a heavy federal tax on gasoline and imported oil to help reduce the waste of oil resources;
do to agree that place a heavy federal tax on gasoline and imported oil to help reduce the waste of oil resources;...

KayKay:H3ll NO!! Aren't we paying enough NOW??? WHY would you want an additional tax?? You must be made of money because the rest of us are suffering at the high price of crude now! Get your head out of your neither regions and see what is going on!... More...

Child Tax Credit - can you still get help if on a fairly good wage?
I haven't bothered to apply for Child Tax Credit because my husband's on a fairly good wage (around ?29,000) but I'm a stay at home mum so really what he earns each month goes on bills and cost of living and doesn't go far. We're in debt too from when he was made redundant several years ago. What help could I expect to receive monthly if I applied? I don't "cadge" off the government and never have - it's not my fault my husband works 6 day weeks to earn that and starts at 2am most days! I'm ...

claimbankchargesback:Yes, you can still get help! You can get child tax credit on earnings up to ?60,000. I can't say how much you`ll get monthly, as it depends on the number of children you have, and also the ages of the children (you get a lot more for a child under 1 year old). You will definately get something tho... 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...

Who can help the disabled find tax deductions?
People who are disabled often must live on limited incomes. There may be ways they can reduce their income tax obligations so they can afford heating fuel. But, they don't know where to go to get good advice on doing their income tax deductions. Tax preparers are often too expensive and may not be knowledgable enough regarding the disabled. Any ideas?...

jeff410:The first question I would ask is, is there income taxable? Social Security Disability isnt taxable, if there is no other income.... More...

Papers are reporting a new tax on cars and planes. Will it help to reduce carbon emissions?
There was apparently a leaked memo that has been reported in the papers today, claiming that MPs want cars to be taxed about ?1,800 a year, and airline fares would incur a 17.5% VAT. Interested to know what people think about the tax and whether they think it will work to help the environment....

Roxy:I also saw a report that the government were thinking of introducing a 'mileage' charge, so local trips would be priced at one level and motorway driving at another. Who do they think this is going to help? Just the rich people! The poor will suffer again. What they need to do is to encourage altern... More...

How to do federal income tax when I transfered money from my 401K to a Rollover IRA account? Please help. Thx!
In 2006, I transfered money from my employer sponsor 401K directly into my Rollover IRA account. They sent me a 1099-R form for the distribution although this money is tax exemption. How am I going to report this 1099-R in my income tax? Thanks for your help! Le Nghp...

Rob:Report on line 16 A the amount of the Rollover and on 16B put -0- to the left of 16B write Rollover 1040A Line 12A the rollover amount 12B -0- and write Rollover to the left... More...

how do u add property tax to your land in sim city3000 plz help?
i dont seem to know how to raise the property tax on sim city3000 can someone help...

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When is my country going to start using my tax dollars to help us instead of them meaning Iraq & Afghanistan?
Governments and politicians caused the problems in Iraq and Afghanistan and now they want to use our tax dollars to fix their mistakes. If governments just minded their own business and dealt with the problems in their own countries we wouldn't be in the messes that we are today. Meandering politicians sticking their noses into the happenings in other countries and putting into office there the guys they think should be there has gotten us men like Saddam so how can that be good? If America ...

Richard D:I ask myself the same question every time I see more lives lost and more money wasted.My Great Great Great Grandchildren are going to pay for the politicians follies.When the politicians run for office they say one thing and when they get in office they forget who put them there.Sure you can vote t... More...

Can anyone help me with a tax question in relation to living in a foreign country?
In about two years I am planning on moving to the UK ( my soon to be wife is british). We plan on living there for about 5 years before moving back to the States. Can anyone explain to me in simple and plain english what my tax obligations for the US and UK will be. Ive tried to read some publications from the IRS but those are hard to understand and were giving me a headache. Any info would be appreciated....

v b:See IRS publication 54. As a US citizen you will be taxed on worldwide income. After you get married, you will continue to file, but you can't file as single because you won't be anymore. (You can file as MFJ even if your wife is a non-resident--also see IRS publication 519.) The US is unique an... More...

Donation to thrift shop calculation for tax deductions help?
How much would a perfect conditon-hundred fifty dollar skirt- sell for at a thrift shop? I am trying to figure this out for tax dedutions on the clothing I am donating?...

soha:On my valuation guide that I received the last time I donated the average Salvation Army thrift store deduction price for a "good condition" skirt is $3 on the low end and $8 on the high end. It says that new or expensive items would be higher, and this list is for your guidance only. If you can, t... More...

Is there a such thing as Tax help using Turbo Tax?
I am getting about $600 less this year and I made more than last year but paid slightly more in taxes. Turbo Tax compared my numbers and everything is close exept my return. I refuse to file for such a small return until someone else looks at my return....

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how many tax will be deduct,if i work in new york city, i am foreigner from Taiwan. many thanks for your help.
My company is in taiwan, new york is branch office,so my salary is over how much every month i will be deduct the tax? less than how much one month then i won't be pay the tax. thank you for your kind help....

Mathew:You question is not clear nor are the necessary facts present to respond. You should go to the HR department for the NY branch of yiour company and ask them.... More...

Is there a web site that can help you estimate your tax returns?
Looking for a web site that has a feature where you can get an estimated amount of your tax returns free of cost. Something similar to doing a mock return....

The Shadow:The H&R Block website also has a free calculator that estimates your taxes.... More...

How will buying a house this year help me in terms of tax return?
It's our first house. We are filing jointly and the mortgage is in my name only, if that matters. Also, what documents do I need to provide to the tax preparer in regards to the house (usually I just show up with the W-2). Thanks! Just to clarify. We bought the house in 2007. We closed 3/30/07. Did an 80/15 loan with 5% down, no PMI or points....

jwishz:Give the tax preparer the following documents: The settlement sheet from your home purchase. You probably prepaid mortgage interest (possibly mortgage points) and taxes which are deductible. Also, each year you will receive a 1099 from your mortgage company which will include the amount you paid for... More...

Can anybody help me find out how much money I will be getting back for this years tax refund??
I will be filing single, and have no children, I have no deductions. My income was-$26,673.61 - fed tax - 2732.78 state tax - 933.38 If I am missing anything else please email me. I appreciate all help!...

redwine:Go to IRS gov and fill out a tax form as if you were filing it normally. Take out your personal expection and standard deduction to get to an AGI figure. Then look at the tax table for that AGI figure. Compare that amount to what you paid in fed taxes. State taxes are the same process. tba... More...

Please help me to know the expected tax return?
A 55 yr old guy works fulltime and makes an income of $1100 per month. He has 2 dependents. He barely can save any money. His average expenses are $900 per month. He is legal, has green card. How much could be his tax return and social security money? Any Best estimation would be highly appreciated. Is there any website which gives details to figure out this?...

David D:It wouldn't be fair to estimate your taxes with out taking some time to do so. There is free software to etimate your taxes. I found this link for you using Yahoo search. I've used this companies software for the past 7 years or more to do my taxes. Its FREE! You'll have to set up a user account.... More...

Online website business - help on which country to move to for lowest tax and vat rate?
I currently live in England and I own a lot of Glamour / Adult websites and the tax and VAT rates are to high in England to survive. Does anyone know of any countries that have super low tax rates for businesses or even better for online/e-commerce businesses? I can not find anyone who knows about this so any help would be greatly appreciated Thanks for reading Regards James...

Dual String Finance:I have only looked at it from an America vs. other countries perspective, but I know from here, if you can locate your business in the Cayman Islands, or even to the Middle east like the UAE, Qatar, Oman, or Kuwait, you will be better off. You may need to buy a timeshare to have your address locate... More...

The IRS kept my Stimulus payment to apply to my old tax balance, how does this help our economy?
I had already set up an installment agreement and have been paying on time. I was aware that they would keep any refunds that I was due but I never believed that they would keep a stimulus payment, I am irate that my goverment would scam me! There are millions of americans who owe back taxes, was this just another way for the goverment to take our money to fund this ridiculous war by the tax payers hard earned money....

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Any help would be appreciated. Is it possible to get a refund anticipation loan for the tax stimulus checks?
Just curious if it is possible to get a refund anticipation loan on the tax stimulus checks coming to us. Does anyone know if this is an option?...

bossman:nope sorry they will send them out starting in may to june... More...

Help on estimated tax payments for 2008 for contracting job?
I am going to be making quarterly estimated tax payments for 2008, but it seems like the amount i would be paying is much less then what i would end up paying at end of year. Does this estimated payment not include Medicare withholdings? or other withholdings besdies the Federal and State?...

Rina S:May be you can contact a tax filing expert at website like http://taxfiling.co.in/ .... More...