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Income Taxes

~13500 answered questions
Parent Category: Taxes and Tax Preparation
Taxes imposed by the government on the incomes of individuals or organizations, including capital gains
The consequences of getting the answer to a question like this wrong can be serious enough that you really should ask a tax professional instead of relying on what a bunch of yahoos on the internet think.
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lower your income
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On the space between Baltic Ave. and Reading Railroad, you have a choice of paying either 10% of your total net worth or $200. The rules detail how to calculate your total worth; I think in addition to your cash it's board value for each property, or half that if it's mortgaged, half price for each …
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There is no income limit once you're over the Full Retirement Age. If you are 67, you're over that limit today - Full Retirement Age for folks born between 1943 and 1954 is 66. In addition, 401(k) distributions are not considered "earnings" for the purpose of the earnings limit for Social Security …
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The higher your income, the higher percentage you pay.
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Only if the person works and has paid into Social Security.
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Most of your income is taxable on the gross income level. Some items are excluded from taxable gross income (such as pretax deductions from your paycheck for child care or medical expenses). Wage earners will enter the income in box 1 of their Form W-2 which is their taxable gross income. Other typ…
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The majority of Georgia pays 4% state sales tax and 3% county sales tax, totaling to 7% sales tax. Georgia income tax is divided into six brackets as follows.If your income range is between $0 and $750, your tax rate on every dollar of income earned is 1%.If your income range is between $751 and $2,…
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The US Constitution (16th amendment).
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This depends on the legal organization of the business (C corporation, S corporation, partnership, etc) and what state the business operates in, for just a couple of factors. There are some taxes which may only apply to one or the other, or apply differently to individuals and businesses. One exampl…
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Gross income is generally your total income. Net income is what you actually end up with to pay your bills. Gross income minus taxes & other deductions (such as disability insurance) equals net income.
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State agencies are usually audited and reviewed by another state agency which is often the Secretary of State's office. Occasionally independent audits may be done. Auditors usually review things like accounts (checking the books), processes and procedures (system productivity), and how well personn…
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Yes, if the state they operate in taxes corporate income. This depends on where they're incorporated or headquartered as well. Some state don't have a personal income tax, but do tax corporations (i.e. WA).
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Almost all states collect income taxes. Some major cities do as well. In New York state, for example, the cities of New York and Yonkers impose a separate municipal income tax, which is calculated on the same form and submitted to the state for distribution to the cities.
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no, we (the grandsons) are awesome
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Can I deposit my niece's income tax return check with her permission <><><><><> Your niece needs to countersign the income tax refund check.
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No. A 1099 is issued to self-employed contractors hired to do a job. If your employer issued you a 1099, they are telling your state's Dept of Employment and Dept of Revenue that you're an independent contractor (self-employed). This means they generally are not withholding any taxes from your pay, …
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the partners have to or they hire an accountant
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Not in this scenario. One dependent can only qualify one person for the head of household filing status. Even if there were 2 children, each person would have to be maintaining a household for one of the children to qualify. Example 1: Two roommates split the rent and other household expenses. Each…
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the expenditure tax introduced inIndia 1987
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We pay Federal taxes like everybody else but are exempt from state taxes. When travelling off of the Reservation we are required to pay state taxes. While we are allowed tomake any law so long as it doesn't interfere with any federal laws we generally adopt state laws as our own because that's just …
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Taxes are not age-dependent. In general, if you make money, then you have to file taxes. In some cases parents are allowed to fold the income of their minor children into their own tax returns, but if you have income at all, then SOMEBODY has to pay taxes on it.
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Gross, which from a word meaning big, is the bigger one. Net is what's left after deductions in the case of salaries, or operating costs in the case of profits.
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It should be listed as FICA. Listed next to Federal and State withholding, you'll also see FICA - that is your contribution to Social Security.
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Yes absolutely. All retired military personnel are required to file a tax return on all withheld federal taxes shown on their form 1099R.
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A parent wishing to claim a minor child as a dependent on their tax return must have contributed to more  than half of the child's financial needs.  Therefore it is not the amount of time but it is the amount of monies spent for the child's welfare (food, clothing, shelter, medical needs, …
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The US, Canada, Hong Kong, Australia, New Zealand and a number of Caribbean islands are among countries that have dollar as their currency. They have different tax rates so the answer will depend on which country you are interested in.
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This depends on your country. Without this information, your question cannot be answered.Re-ask giving a specific country in your question.
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Expenses more than income is called "Loss" Income over expenses called "Profit"
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I recieved 3100.00 in unemployment for the 2013 year. I did not have taxes takin out. How bad will i get hit on taxes for this, what will I owe? Yes I use Jackson Hewitt for my taxes and will again this year they did a great job last year!
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The revenue act, which funded the Civil war. (the Civil War)
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There are limits as to the amounts of money that can be gifted within a year in a taxfree manner.  Check with the IRS--amounts change from year to year.
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I was about to answer that they must have been smart enough to find another source of income, perhaps from all that gold that was found up there, both the solid kind and the liquid kind (oil, that is; black gold; Texas tea). Then I remembered an episode of Modern Marvels I saw recently called Alask…
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It depends on the tax rate.
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The Florida resident would normally pay use tax on the purchase price of the auto to the state of Florida. The Alabama car dealer would only collect Florida sales tax on the purchase price IF the dealer had nexus in the state of Florida.
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$3500 is the exemption for each dependent.$1000 is the child tax credit for kids under age 17.For kids under 17 that are your dependents you qualify for both the exemption and the credit.Note: Only the person filing the child as a dependent will receive the money.
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Employees do the work that generates the profits which allow their employer to pay taxes. But you will not find a deduction on the employees pay stub which reads, this amount deducted from your pay to cover your employer's business tax.
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Technically yes, but if sales are minimal, the IRS isn't going to notice. If you're making hundreds or even thousands of dollars in sales, then you definitely need to pay taxes.
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No, the IRS requires an income of $500 or more be reported for tax purposes.
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Requirements to file taxes is not based on age but income. If your income is below a certain amount, you do not have to file.
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You need to check your child custody order and state laws to determine who has the right to claim the child as a dependent. Some states allow the parent with physical custody to claim the child unless the parents have a different arrangement approved by the court. You should inquire at the court tha…
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Either or both parties will have a problem with the IRS. In order for a parent to claim a minor child as a dependent he or she must have contributed more then 50% (51% or more) of income required to support the child.
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No it's not income
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No. VA disability isn't taxable and you won't get a 1099 for this income. If you are also receiving regular military pension, your 1099-R will only include the taxable portion and will not include your VA disability portion.
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The custodial parent does not have to claim child support monies as income and the non custodial parent cannot claim it as a deduction.
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State and Federal tax agencies interact with all US state child support enforcement agencies. When a non custodial parent who is negligent in child support obligations files taxes the return will be "flagged." If the parent owes more than $500 to the custodial parent or legal guardian or more than $…
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From the IRS, no-assuming you mean your previous years since present year is not yet completed. You can get a copy and send it to him/her via IM.
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It depends which country you live in.
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Yes, you would however have to discuss this with your financial adviser. You may be eligible for a tax refund but if your case has been reported to Child Support Enforcement in your state your tax refund may be confiscated to pay toward your arrears. It will go toward the support of your children.
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No. In order to claim a child as a dependent the claimant must be able to show they have contributed more than 50% of the child's financial needs, regardless of whether or not a child support order exists.
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federal identification number for fullerton community college
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The federal tax ID is not listed online for Santa Ana College. You will need to contact the school's human service department to get the tax ID number.
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Absolutely! In fact, unlike an employee who only has to worry about the "Employee's Share" of 7.65%; a self-employed person is responsible for BOTH the Employers Share AND the Employees Share - a total of 15.3%.
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Yes on a Jointly filed return they can. Everyone that signs a tax return is individually and severally responsible for ANY tax due on the return. Having said that there IS a work-around. You have to prepare and submit an Injured Spouse form along with the jointly filed tax return. Then you can get a…
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You don't! What you CAN do is request a copy of ALL your income for a particular year from the IRS. If they can pull up an IRPTR report for you they should be able to print off a copy for you. Otherwise you could pay the fee to get a paper copy of your tax return filed and it should have all the W-2…
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It depends on whether you have other taxable income. Call the IRS to get information.
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For dependent most states have a 6 mo or more live in requirement, and or only one parent can claim irregardless and you already know she will, Not knowing your locale, your best bet is to double check with a preparer like HR Block, who could tell you on the phone but it is doubtful even with creati…
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Education credits or mileage
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Because taxes allow the government to function and without government we would be living in a lawless anarchy. Or so the thought process behind governments goes.
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I don't know. But, I got one too.
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File an appeal with the state child support enforcement agency that is in charge of the case. That agency is the only one that can take any action on a FTO order. The only acceptable reasons for not having a refund seized are...You are not the person who owes the money. You owe less than the qualify…
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You did not say whether you meant federal or state income taxes. In any case, you can claim your domestic partner as a dependent if he/she lives with you and you pay more than half of his/her expenses, and he/she is a citizen of either the US, Canada or Mexico, and his/her personal income is below …
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They should be filed every year and if you miss, there is no time limit on how long it is due .so you don't want to miss
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Pets are not tax deductions.
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Only if you own 12 strips of bacon
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While earned income credit is for job holders, if you were unemployed and had taxes withheld from income such as alimony, lottery winnings, or investments, then you do have to file to get the taxes back, based on overpayment. And filing a tax return insures that you get any other payments the gover…
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yes you do because youre the only person
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I'm pretty sure it's 12 credit hours or more on FAFSA
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Form 1040X is used to amend (correct) a previously filed return. For example, let's say you filed your return as soon as you got your Form W-2 from your employer. Then later you get a Form W-2 from a temporary job you had earlier in the year that you forgot about. Now you must amend your return to i…
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Interest payments on a home are deductible from income. Read the tax code carefully as some of the closing costs may also be deductable.
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Thats a little technical to me, felons and parolees could have a big difference to whether Employers benefit financially. I know Parolees are a big cut. Hopefullly I didn't confuse you.
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Yes, sort of: property taxes are a federal tax deduction and an IL tax CREDIT (up to 5 percent of property taxes paid). Your tax professional will assist you with your particular situation and will know of any changes to the law that might affect you.
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yes people that filed a lil early like on the 28th dont know how we couldn t file untail the 30th but some people do have theirs
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AutoZone will give you your W2 directly if you are still employed with the company. If you no longer work at the company, they will mail you the W2 before January 31st.
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An IRS refund can be seized for child support arrearages and/or tax arrearages. And in some cases for repayment of federally funded student loans.
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If you give your money away to a recognized charity, you can deduct the contribution on your income taxes.
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It can be. The Child Tax Credit is 2 parts. The first is non-refundable and can only reduce the tax to $0. If the full amount of the credit (generally $1000 a qualifying child) is not used, it becomes the Additional Child Tax Credit and the amount of refundable credit is calculated on Form 8812. The…
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Workmen's comp does not necessarily eliminate someone as a claimed deduction.
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You should have received it by the end of January. Call the employer and have them mail it to you.
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You will have to pay federal taxes on your Social Security benefits if you file a federaltax return as an individual and your total income is more than $25,000. If you file a joint return, you will have to pay taxes if you and your spouse have a total income of more than $32,000.
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no, well I'm not sure but you'll probably get sued or something
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