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| answers about Taxes Questions |
| Is a car purchase tax deductable? |
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Assuming you are self employed, then the portion of the car used for business would be tax deductible. If you use the car 50% for business ...... |
| what paper work do I need? |
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The first question is, what is your not-for-profit activity? Is it charitable, religious, etc.?
Are you incorporated as a not-for-profit...... |
| What percentage tax does a 18 yr old person pay on a second job? |
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If you will earn over 拢7185 in your part time job you will have to pay 22% tax on your new job. If you're earning less than this in your...... |
| how is a second income taxed compared with the first income.? |
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The first 拢5035 is tax free
The next 拢2150 is taxed at 10%
The next 拢31150 is taxed at 22%
Anything above this is taxed at 40%...... |
| Does Bill Gates hide his real income for tax purposes ? |
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Doubt that anyone on here knows of his finances -- that is private to him, his family, and his accountant. But, he would be extremely stupi...... |
| Are people taxed on their social security disability funds? |
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Not enough information. If SSDI is all the income you and your spouse have, then no. If you or you spouse have significant other income ($15...... |
| wich is the taxation on T-bill? |
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You just add the interest in with all your other taxable income.
The more income you have the higher the tax rate.
The tax brackets ar...... |
| Need Enrolled Agent exam advice? |
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It's an open exam, go to the following to get last year's exam to study from:
...... |
| If u get super tax, what is the % u get taxed? |
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Normal rate 22%
When you reach a salary of 拢40000 it rises to 40% on that which is over the 拢40000.
Beyond that I would have no idea ...... |
| I have a friend that has not filed taxes in 5 years because he owed money, what should he do? |
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1) get his W-2, 1099 together and set it aside by the year
2) If he owns a home get the mortgage interest, property tax receipt and recei...... |
| Depreciation of Work Van? |
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The depreciation method that you'll be using is the 5 year MACRS table. Year 1 20% Year 2 32% Year 3 19.2% Year 4 11.5% Year 5 11.5...... |
| Inheritance Tax - United States? |
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It depends what type of income it is. If it's life insurance proceeds, it's not taxable (except for any interest earned from date o...... |
| is there a minimum franchise tax of $800 for S-Corporations in California? |
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Yes. The following is an excerpt from CA tax law:
Minimum Franchise Tax:
Except for newly incorporated or qualified corporations,
an...... |
| What is the tax rate for long term capital gains? And the tax rate for short term? |
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The following is for Federal tax purposes only. I do not have a good grasp of NY State or NY City income tax law.
When a security (stock...... |
| Do I have to pay sales tax on my car in California? |
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Oops, tax is due because you haven't passed the 12 month test!
See page1 of the first link below. When you open the first link, it may...... |
| Is there a tax bracket system with stocks just like income or is it more complicated than that? |
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It is a little more complicated.
Income from buying and selling stock will be taxed based on the length of time you held the stock.
If...... |
| I just started my internet business, if i don't make a net profit for 2006, do i still have to file taxes? |
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All of these answers are good. Some are a little off, so I'll chime in.
Sole-proprietor:
If you are not incorporated or forming a...... |
| Why is there an upper income limit for contributing to a Roth IRA? |
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The limits are for AGI over $160,000 if married (MFJ) and $100,000 for single folks. I would assume that the idea of having a limit is to ...... |
| we have rented a house for 6 years if we moved into it would we have to pay capital gains tax? |
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In the UK, if you own two properties, you are exempt from paying CGT on your primary residence if you sell it. If you sell a secondary prope...... |
| Under what conditions, if any, does university coursework qualify for tax deductability? |
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ONLY the costs for course work that will help you retain or advance in your current field of work are deductable. If the course is to help ...... |
| how can I start an online income tax preparation business wiht RAL and E-file offered? |
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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....... |
| Can I roll earnings from the stock market into a 529 account without paying an earnings tax? |
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No. The usual way to decrease stock market gains is to take any losses on your other stocks before 12/31. Then you are allowed to buy the ...... |
| How do I import Excel or Open Office data into a fillable Schedule D pdf form? |
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I keep track of all my trades in Excel. What I do is make the Excel worksheet look just like Schedule D-1 and input all of the information a...... |
| Why do I have to pay School Taxes when I have no children in the School. My School taxes are $6000 this year? |
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We all benefit (supposedly) from state-funded education. By raising informed, skilled, and civilized individuals, we are all protected and ...... |
| At what income level does do you have to pay AMT? |
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Here is a paper that explains who is subject to the AMT...... |
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