| income tax |
| Can I find my Adjusted Gross Income from 2004 on line so I can E-file my taxes? |
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no, not usually. you may need the hard copy of last years return. however, if you did your return online then you should be able to access...... |
| I w/d from my 401k in 06 & taxes were w/drawn; now I have to claim as income for 06; can I claim any in 07? |
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The money is all taxable in 06, you can't carry it over to 07. You can request an installment plan by filling out form 9465 and sending...... |
| Can a high income year be averaged with lower years to cut the amount of taxes for the high year? |
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Nope.....your income must come from the tax year your return is filed for....... |
| How much taxes do I pay living in Long Island, NY if my gross income is $150,000? |
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Quit your whining. Move to Canada. No, never mind that move to Cuba, I like Canada and wouldn't want to do that to them.
If you mak...... |
| What is the income level cutoff this year when you stop having to pay medicare taxes? |
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Simple answer there is no limit on Medicare taxes, only a limit on Social Security. Which is 94,200 for 2006.
Here is the link ...... |
| My spouse & I are retired with fair incomes, & we volunteer as camp hosts. Can we deduct expenses on tax? |
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If you volunteer for a qualified charitable organization, you can deduct any unreimbursed out of pocket expenses, including mileage at 14 ce...... |
| When Dems, esp. Hillary, raise taxes to over 50%, what will you do to protect your income? |
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Not quite correct.
While the top tax bracket is 38%, once you
phase out personal exemptions, its more like 42%. So not far off of 50% a...... |
| If I start a business as an LLC and I make no Income for that year, would I still need to pay taxes? |
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You would not need to pay taxes if you have no income. In addition, you could carry forward any losses to deduct against future income....... |
| I am helping a friend file taxes that moved from MN to TN. Do I only claim MN income as state income? |
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Only the MN sourced income will be reported on the MN tax return. Your friend would have to file a M1NR for part year residents....... |
| If my gross income is so low i dont have to pay or file taxes, can i file anyhow to take the phone credit? |
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Don't need to file a return? You can still request the refund. Use the new Form 1040EZ-T, Request for Refund of Federal Telephone Excise...... |
| If I have no income and withdraw a tiny amount from 401k, how is it taxed? |
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If you leave your job, you can open a Rollover IRA to manage your 401k funds. Depending on the institution who manages the account, you can...... |
| Do middle and low income Americans have a valid argument that we are being 'over taxed"? |
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Don't do the Wesley Snipes thing. He claimed that he didn't need to pay his taxes and got socked pretty heavily. The US would be b...... |
| Sue is preparing taxes. She received $6,000.00 from her uncle, should that income be included on the 1040? |
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Banks do not report transactions to the IRS that are under 10,000 and Sue shouldn't either....... |
| What are the detrimental effects of taxing the very wealthy at 60 or 70% of their income? |
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What detrimental effects? There aren't any!
Do you think CEOs making fourty or fifty million dollars a year will quit their jobs bec...... |
| If I made $272,000 income last year, what avenues can i use to reduce my taxes? |
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look for simple reductions
did you pay for work expenses
child care
education (classes or student loan interest)
tags for your vehicle...... |
| If I made $272,000 income last year, what avenues can I use to reduce my taxes? its for the year 2005!? |
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you can just claim it. they give you a receipt that you fill out with the approximate value of the clothes you gave. it's a very loose s...... |
| How do you feel about the gov taxing and making people count "tips" as a means of income? |
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If this is money rec'd and used to count towards your wages then yes it should be taxed. However I think "servers" should rece...... |
| Do I have to file ohio state taxes if my personal exemption(1400) is more than my income(735)? |
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Thats what I would have suggested - better to be safe than sorry....... |
| If I made $272,000 income last year, what avenues can I use to reduce my taxes? its for the year 2005!? |
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I really feel sorry for you. You made $272,000 and you want to reduce your taxes by claiming the clothing you donated?? First of all, you mu...... |
| If income is under $14,000 do you have to file federal taxes? |
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Yes, based on your information, you are required to file. If you're single with no dependents, you need to file if your income is > ...... |
| What is the minimum personal income you could make in 2006 without having to pay taxes on it in Quebec,Canada? |
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I assume you mean maximum, not minimum. :)
The "Basic Personal Amount" in Quebec for 2006 is $9,555, so under that amount there...... |
| While doing my taxes, What form do i fill if i have additinal income? |
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Freelance income would be reported on schedule C, or C-EZ - you'd probably be able to use C-EZ. You'll report your freelance income...... |
| I have a corporation that does no business and there is no income coming from it at all, are there any taxes ? |
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The purpose of a business/corp is to make money. No money, no taxes, therefore why are you a business entity? They'll want to know tha...... |
| I am a small business owner, I did not bring in any income this year, do I still need to file taxes? |
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Yes, you still have to file because the only way the IRS knows that you did not have any income this year is if you file.
And yes, as a s...... |
| How much income does a 76 year old have to earn to pay taxes? |
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The amount of income necessitating a tax return filing depends on your filing status:
Single: $9,450
Married, joint return, both spouses o...... |
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