What would you like to do?
If your parent claimed you on their taxes you supported yourself they didn't how do you get them to pay the money they owe?
Answer Tell them to give you half of the money or you will start doing your own taxes. If you are under 18 yrs of age. then you have no say in the matter you are a kid …and the money is your parents to do with as fit. Ans You can only be claimed on someone elses tax return if you qualify as their dependent and you don't claim yourself on your own one. So, file your own tax return. However, you may end up paying taxes. You do not get money back from tax because you spent it on yourself.
You can claim yourself - as long as you are not also claimed by someone else (typically a parent or guardian). For instance - a 21 year old who is a full time stude…nt, but earned $5,000 working part time, could be claimed as a dependent on his parents' return as long as they were providing at least 50% support. If claimed on the parents' return as a dependent, then he could not claim himself as a dependent also on his own return. An elderly parent living with (or with the support of) an adult child could face the same dilemma. The parent could be a dependent on her adult son's return if he is providing more than 50% of her support - even though she might have some taxable income from interest or work. But she could then not claim herself as a dependent on her own return.
If you claim yourself on your taxes will you receive a pell grant for college if you are under age 23?
You might be able to receive a Pell grant if you're under age 23 and claim yourself on your taxes. Your income is the main factor in whether you're given a Pell Grant.
Each exemption is equal to an amount of income that is "exempted" from taxation. Hence it lowers your taxable income and therefore tax.
That depends on which form you are claiming it on. If you are talking about Form 1040, that means just yourself. If you are not eligible to claim yourself, then you are not …eligible to claim anyone else either. If you are talking about Form W-4 (the withholding form that you give to your employer), stop and read the form more carefully. It does NOT ask you to fill in the number of people (dependents) you are claiming. It asks you to fill in the number of withholding allowances you are claiming. Most people have way too much tax taken out of their paychecks because they mistakenly believe that the number of withholding allowances they claim on their W-4 should be the same as the number of exemptions they claim on their 1040. Most people should claim MORE withholding allowances. To calculate the number of withholding allowances you should claim, either use the worksheet in the Form W-4 instructions or use the IRS withholding calculator here: http://www.irs.gov/individuals/article/0,,id=96196,00.html
You are not eligible to claim yourself as a dependent on your federal taxes -- ever. However, you are allowed to claim a personal exemption for yourself if and only if no on…e else can claim you as a dependent, whether or not they actually claim you.
you will have to pay your own taxes not your parents.
only if he is married or his name shows up on bills for the house.
No ans Yes, you just cannot claim yourself as a deduction.
In the US, when another taxpayer is entitled to claim you as a dependent on their income tax return, you cannot take an exemption for yourself even if the other taxpayer does …not actually claim you as a dependent. Then Exemptions for Dependents Dependent not allowed a personal exemption. If you can claim an exemption for your dependent, the dependent cannot claim his or her own personal exemption on his or her own tax return. This is true even if you do not claim the dependent's exemption on your return or if the exemption will be reduced under the phaseout rule described under Phaseout of Exemptions, later. Go to the IRS gov web site and use the search box for Publication 17 (2009), Your Federal Income Tax for Individuals go to chapter 3 Exemptions You can click on the below related link
You can often times deduct the cost of hiring a tax professional to do your taxes in the following year. Given the generic nature of your question, I'd strongly suggest doing …just that.
I guess it depends;for instance, the traditional IRA is a retirement savings plan where contributions may be tax deductible and the values can grow tax deferred until withdraw…al at retirement.However, for 2010, the IRA contribution limit for any wage earner is $5,000 or the individual's taxable wages, whichever is less. A wage earner over the age of 50 can contribute an additional $1,000 into an IRA. In the case of R-IRA, Roth IRA contributions are not tax deductible by definition. The tax benefit from a Roth IRA is taken at retirement when distributions are tax-free.
Yes, you can claim state and local sales taxes on your return. But in order to do so you must itemize deductions and you must not claim state and local income taxes. You're al…lowed to claim either state and local income taxes or state and local sales taxes, but not both. If you do claim the sales tax deduction, you can either claim the amount you actually paid (based on receipts) or the amount given to you by the IRS's Sales Tax Deduction Calculator. For a more detailed explanation of the state and local sales tax deduction, please see Deducting State Sales Tax.
You can, but doing so is no guarantee that anyone else will everrecognize any authority you might believe you are due. Not that youwould be due any.
Sure you should. As long as your parent or someone else is not eligible to claim you on their return then you should definitely claim yourself. It is an automatic calculation …as long as you do not mark the return that someone else has claimed you on their return.