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| answers about Taxes Questions |
| In the UK, in what circumstances do you have to fill in a self-assessment tax return form? |
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Basically, what tips the balance is when the taxman sends you the form.
This will normally be triggered by you receiving any significant ...... |
| If I flip a house in 3 monthes how much IRS tax do I have to pay? |
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If you flip a house in 3 months, you will owe ordinary income tax on all gain. The gain is figured by taking the selling price minus:
Pu...... |
| Is there taxes on WCB Pension payouts? |
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yes, its taxable
because WCB preimum payment is from your employer, you did not contribute anything. Since the payment from employer is t...... |
| I was beneficiary of my fathers checking & savings account. He died in April. Do i have to pay taxes on money? |
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There is no United States Federal Inheritance tax. You would owe income tax if you inherited "qualified" or "pre-tax" m...... |
| How much money can you earn in a year before they can tax you (live in Indiana).? |
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For federal, depends on such things as your marital status, filing status, number of dependents, and age. Also whether you're an emplo...... |
| Do you agree there should be a Child Tax Credit? |
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Jazz - not everyone can get the child tax credit, since it is phased out when your adjusted gross income exceeds a certain amount.
I have...... |
| ok so if you can use the losing lotto ticket then were do you turn then in for the tax off set when you win? |
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You file it with your taxes and then you will get a refund for the amount they took out when they paid you. You need the losing lotto ticke...... |
| if you win 5000 $ on the lotto can you use the losing lotto tickets to off set the taxs? |
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Yes, you can use losing lotto tickets as proof for gambling lost up to offset your gambling winnings.
The $5000 winning goes onto Line 21...... |
| Can you deduct? |
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If the tutoring is by choice and not mandated by illness or some physical disability, you cannot deduct from your Income tax. The schooling...... |
| satay is true? |
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Not sure what you were asking, but Satay is a delicious BBQ meat delicacy in Malaysia, Indonesia and Singapore.
It is marinated meat ( ch...... |
| Tax Question- A friend is mechanic at a dealership & must supply his own tools. Can he write them off???? |
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"Of course" assumes alot! Your friend can write of his "Un-reimbused Employee Expenses" by using both the Form 2106 and ...... |
| Do corporations pay long term capital gains taxes (15%) on real estate or do they pay their normal tax rate? |
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I believe that "all" income for a traditional corporation (or "C" Corp) is taxed the same....... |
| Does a cafeteria plan reduce FICA and Medicare withholding, as well as Fed W/H? |
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Not only are contributions made to section 125 plans not included on W-2 line 1 "Federal Taxable Wages", but also on Line 3 "...... |
| Is there a country in this world that the people (local or foreigners alike) need not pay any taxes on their? |
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Loads of them. Tax havens do a brisk business in the sale of citizenships and residency visas. In addition to numerous Arab countries (tax...... |
| On Federal W2 form - do I claim zero to get more back at tax time? |
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To get the maximum deducted from each paycheck and therefore maximize your refund, you need to claim zero. I used to be an accountant and d...... |
| After a person dies, what is the time period before their social security # is reused? |
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They aren't reused. That would cause alot of problems!
Heres the FAQ that talks about it : ...... |
| How much can I make on eBay before I have to pay income taxes? |
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Having to pay federal income taxes and having to enter your business activity on your tax return are two different topics. I believe you ar...... |
| Is student loan interest tax deductable if you take the standard deduction? |
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You betcha.
Student loan interest is not an itemized deduction. It's an adjustment to your gross income so it reduces your income. ...... |
| Renting out my home so I can rent an apartment...will I have to add the rent I recieve as part of my income? |
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yes, it's income. but you can deduct business expenses now, so on paper you won't actually be making a profit, so therefore no taxe...... |
| Have been offered a 35 thousand buyout at my work. just wanted to know how much could i expect after TAXS? |
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on my buy buy out they took about 38%-------but take it and then draw unemployment for 6 months at $1000.00 a month// If you accept your buy...... |
| Tax deducted mutual fund? |
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The mere purchasing of a mutual fund or any other fund will not lower your taxable income and thereby lower your tax liability. However, co...... |
| How many times do you file tax each year? |
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I work for a payroll provider, and it seems a lot of people on here are misinformed. I would suggest getting a service to do you payroll. ...... |
| Can a laptop be written off your taxes if used for educational purposes? |
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If it is a requirement of the college program you are in and you buy the laptop from them it is an expense. It will appear on your 1098T at...... |
| I was overpaid wages in one year and paid taxes on it that year? |
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I am a tax professional who has dealt with this personally. There are two ways to go about this. One is to amend prior returns to who the co...... |
| How much tax will I pay if my income for 05' is 20k and after loss and gains I made another 20k in stocks. |
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Am working on assumption all your stock trades will be short (held less than one year) so the gain will be taxed at your normal rate as only...... |
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