What would you like to do?
The list of items that can be claimed on your taxes as deductions is quite extensive absolutely situational, requires documentation and has many limits and thresholds. It may include (but is not limited to): computer and office equipment (if it is used for a business undertaken for profit), whereas hobby expenses are never deductible (and if your business is considered a hobby - then even it's expenses aren't deductible). Some legal fees and invesment expenses, the rental cost for deposit boxes, gambling losses are allowed against gambling winnings, and some travel expenses for qualified business purposes or charity. The most common are medical and dental expenses (which have a threshold you must reach and commonly aren't avail to many), property taxes, mortgage interest on a primary residence and charitable donations within limits to qualified charities only. You are allowed a "standard" deduction which is the better choice if you're qualified and documented "itemized" (meaning specific) deductions add up to less than the automatic amount....which is very common. It is always a good idea to consult with an accountant or a tax consultant to determine the best way to file in order to maximize deductions. However, the common PC and on line programs available for $20-$30, (and even on line for free), will lead you through a question and answer routine that explains itself and what is needed and does an excellent job of making a beneficial return. The first time or two it may take you several hours or more...but as you learn what is asked for and needed, you get better at knowing what to keep and look for through the year...and what things actually mean to YOUR tax situation.
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Your husband makes 750k a year but pays everything through his business and claims on taxes that he makes 100k per How is child support determined?
This judge will determine what they think is fair and equitable compensation. They look at not only his tax return for actual income, but also at the current lifestyle o…f which you have become accustomed. You are trying to get child support that will keep you in the lifestyle that you are accustomed, but that may not be possible unless the judge orders a very high percentage of the income to be given to you. This is exactly why many wealthy men have pre-nups and estate planning to protect their assets from legal actions. If he has done it correctly an d legally, there will not be much you can do to attach his business assets or income. However, if he has ownership of that company in a form of Stock, limited partnership, etc... then you may be entitled to part of his company as well as his income. The best advice is to hire a very good divorce attorney that can legally research his net worth. He may also have unknown assets like bonds or retirement accounts and life insurance policies with monetary value in his name, not mention other real estate or shares in his brokerage account.
So your mother and father can gets da money
40p a mile for the 1st 10000 then 25p
You cannot find out who claimed you on their taxes. This would require the IRS to be telling you information on another taxpayer. I disagree, but I know that they will not… give you that information. What they will do is side with you if the person did not have a right to claim you and they will allow you to claim yourself and take you off the other persons return and make them pay back and refunds plus interest and penalties. The person had to have your name as it is on your social security card, your birthday, and your social security number. How many people have this information?
no, once you claim someone you cannot be claimed yourself
The parent that has the child 51% of the time. see link below
There are three test to determine this: 1. The relationship test: The unrelated parties have to be members of the same household. You and your boyfriend would have to have b…een living together for the year of 2009. 2. The gross income test: Your gross income would have to be less than $3,650 a year 3. The support test: If your boyfriend provides over half your support. This would include shelter, food, clothes, medical and dental care, education, etc.
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
that everything is god
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.
We have a lot of questions being asked on WikiAnswers everyday, every second, every minute. The fact that we don't get to every question does cause problems, but we do our bes…t! As far as answering all of them - it's possible because of the wide diversity we have among the members of WikiAnswers, so I do believe it's VERY possible to answer ALL the questions (except the ones that cause conflict such as not having enough information to answer and what not), but it takes time.