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| answers about Taxes Questions |
| how do i deduct my tax and n.i. from my salary? |
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You dont deduct it yourself it is done by your employer using tables from the Inland Revenue. If you are selfemployed its done at the end of...... |
| Can I claim deduction for 2006 property taxes on 2006 return if not paid until 2007? |
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No. You can only deduct property taxes actually paid. 2005 taxes paid in 06 are deductible in 06. If you paid back taxes for previous yea...... |
| Inheritance tax? |
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The business probably qualifies for 100% business property relief in the UK and therefore won't give any IHT liability even if it does n...... |
| What would be a good survival salary today for one on their own? |
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you call a 200k house not fancy....well , I guess is all depends on where do you live...where I live 100k salary and 60k bring home ..you ri...... |
| what are the tax implications for the recipient of proceeds of a benefit held for them? |
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The proceeds would be a gift to the recipient and not subject to income tax. Those who contributed could not take a deduction for any donat...... |
| If you sell stuff at a loss on ebay (for less than the cost price) can you get a GST refund? |
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Unfortunately these taxes are not recoverable. Based on the wording of your question it is fairly apparent that this is a casual sale and no...... |
| Can the IRS take his savings or checking account? |
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If there is one thing I know about Uncle Sam and money it is this;
When they owe you money it's "please allow 4 to 8 weeks for p...... |
| Does a Canadian Company Receiving Royalty Income from the US require an (EIN) Employer Identification Number? |
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Tim,
You are correct that a Canadian recipient of royalty income need only file Form W-8BEN to claim treaty relief from the 30% withholdi...... |
| church law? |
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any one connected with any non profit organization must be careful of How the money that was raised is spent.
for example a Non Profit g...... |
| Tax questions please? |
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Life insurance proceeds are tax free. You are correct that the interest is taxable. What was paid for the policy isn't income or a deduc...... |
| If I take a loss when I sell my house can I write it off on my taxes? |
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No, the IRS is strict on this. Gains on personal residences can be taxable(if you have owned or lived in the house less than 2 years), but ...... |
| Do I get tax benefit from donating to charity from IRA? |
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If you have the money sent directly to the charity you don't have to include it in your gross income and it will count towards your RMD....... |
| I just got married a few months ago (July 29). Should my wife and I change our W-4 filing status to married? |
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It all depends if you want a bigger tax return. When you change it they will take less out of your pay but then your return will be lower. ...... |
| Is child support a tax write off? |
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Child support payments are not deductible by the person who pays it and are not income to the recipient. It doesn't matter if it's ...... |
| Can i get my details by Giving the PAN number? |
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No such facility for tax payers. You can only know your pan number by giving your accurate details. This facility knowing details for pan n...... |
| how to reporting runs away evading paying taxes? |
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Depends where you are. In the US you call up the IRS (Internal Revenue Service) and explain your case.
HTH...... |
| What is the itemized deductions FROM AGI? |
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REAL ESTATE TAX ON RESIDENCE 3,900
deductible on line 10 of schedule A
STATE INCOME TAX 1,400
STATE SALES TAX 1,950
one or the other, ...... |
| what are canceled checks? |
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A canceled check is a check than has been cleared by the financial institution that hold the account against with the check was written.
...... |
| Inheritance tax confusion? |
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I am going use the correct term "Real Estate" instead of "Property", as the latter refers to property in general and I a...... |
| What is the monetary limit for 'Below Poverty Line' in India.? |
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Rs 650.00 per month for 5 members family and as per world bank who cant manage food for 2400 k cal for girls and 3200 k cal for boys are poo...... |
| if you receive a payment of 5000, of an interest free loan, is taxable as income? If so where? |
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That depends on the nature of the loan. Check out unstated interest in IRS Publication 537....... |
| Do I have to file jointly if I haven't changed my name with ssn.? |
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From an income tax standpoint, you must file a married return if you are married as of the end of the income tax year. This is without rega...... |
| Can big and small businesses 'wright-off' in-house health and well being service as business expense? |
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I dont see why not if your accountant can justify it with the tax man...... |
| Can he claim my kids, too? |
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It is your marital status at midnight on the 31st of December that is your status for the entire year. Yours would be married filing jointl...... |
| How do I switch a return filed as "Married filing Individually" to "Married Filing Jointly"? |
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You will have to file a 1040X. You will have to show your wife's refund as tax received by both of you and it will be deducted from the...... |
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