Yes, If i gets pension more than IT returns then surely i submit returns & pay taxes.
In this case you will most likely end up owing more taxes when you file your return at the end of the year. You withholding allowances claimed during the year only effect the amount of taxes that are withheld and applied to your tax return at the end of the year. It is to your benefit to pay in more during the year so that you don't end up owing a good deal of taxes when you file your return.
Absolutely. All taxable income must be reported on your tax return. You also should be very careful as second jobs never tax out enough taxes and you can easily end up owing taxes at the end of the year.
The answer is NO. When you are employed you have federal taxes taken from your pay or if you are self employed you are to pay Federal taxes on your gross income twice a year. During tax time if you were employed or self employed and have earned income (which is what you made all year) you file a federal income tax. The purpose to file taxes is to see if you will end up getting taxes back from what you have paid in all year or if you will end up paying because you still owe. Depending on the income bracket you fall under, if you have dependants to claim, or if you have any deductions will calculated to see what your getting back.
You could file jointly if that is what you mean.
Yes, if you have a copy of your end-of-year pay stub that has all of your tax info on it (taxes paid, Medicare, etc)
Yes, but no.You will need to file with the state where you reside more than 180 days each year.'Filing taxes' and paying taxes are entirely different things.You file with your state of residence, generally pensioners do not pay though.I am retired on Federal pension, and I live in Maine. My pension is 'taxable'. However I file 'Married-joint' and we have the appropriate standard deductions and exemptions, which add up to more than my pension. So while my pension is 'taxable', and I do file income taxes, I do not pay income taxes. No taxes come out of my pay checks, nothing is with-held and we pay nothing at the end of the year. My pension is not high enough, to get above the standard deductions and exemptions.
File taxes at the end of the year. It is also a good idea to file quarterly estimated taxes. This makes paying taxes at the end of the year less of a financial burden and eliminates the fees charged by the government for not doing so.
In this case you will most likely end up owing more taxes when you file your return at the end of the year. You withholding allowances claimed during the year only effect the amount of taxes that are withheld and applied to your tax return at the end of the year. It is to your benefit to pay in more during the year so that you don't end up owing a good deal of taxes when you file your return.
You will have to have a good crystal ball at this time as they have not started making much noise about taxes rates going up in the year 2010. We are all just waiting at this time to learn when that may happen during this year before the end of the year 2010.
One can appeal property taxes at the end of every year. A tax bill is sent at every year to pay property tax from the government. It is your responsibility to pay these taxes.
It is what you have saved prior to paying taxes at the end of the year.
The adminstor of her estate.
W2 income is pay that you have received from an employer who has taken taxes out during the year. You will receive a W2 at the end of the year so that you can complete your yearly taxes.
W-2
Absolutely. All taxable income must be reported on your tax return. You also should be very careful as second jobs never tax out enough taxes and you can easily end up owing taxes at the end of the year.
The answer is NO. When you are employed you have federal taxes taken from your pay or if you are self employed you are to pay Federal taxes on your gross income twice a year. During tax time if you were employed or self employed and have earned income (which is what you made all year) you file a federal income tax. The purpose to file taxes is to see if you will end up getting taxes back from what you have paid in all year or if you will end up paying because you still owe. Depending on the income bracket you fall under, if you have dependants to claim, or if you have any deductions will calculated to see what your getting back.
It all depends on the wording of the pension papers. Some DO end upon the death of the pensioner, some continue to offer the survivor a reduced percentage. Check the paperwork or call the benefits or human resources office.