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It depends on the opportunity cost. Opportunity cost is anything that you could do instead of something else. In this situation, it would mainly be money lost to time lost. Which is more important to you?

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10y ago

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Do attorneys pay taxes?

Yes they do the same as other taxpayers filing the 1040 federal income tax return.


Find the 1040 Instructions?

Some people prefer filing their taxes all alone. Filing taxes alone can ensure that a person is accurate and receives all of the benefits to which he or she is entitled. If you want to find the instructions for filing a 1040, then the best place to look is the IRS website. Every year, the IRS makes it a point to set forth an updated PDF file with the instructions for filing a 1040. Reading the instructions carefully is important for reviewing any updates in the tax filing process. Be sure to pay attention to all of the information that is required of you.


When is it appropriate to use a 1040 tax table?

A 1040 tax table is used when people are trying to figure out the best way to pay or file your taxes. Just use it to match up your income and whether or not you are filing jointly or separately.


How much a married couple has to make to pay taxes?

For the 2009 tax year a married couple filing a married filing joint income tax return both under the age of 65 filing a 1040 federal income tax return could have 18700 of adjusted gross income free of federal income tax after the 1040 federal income tax return is completed correctly and completely to the 1040 page 2 line 43 TAXABLE INCOME AMOUNT -0- ZERO.


Where to send IRS payments FOR FORM 1040?

To send IRS payments for Form 1040, you should mail your payment to the address specified in the Form 1040 instructions, which varies based on whether you're including a payment and your state of residence. If you're filing a payment with your return, you typically send it to the address listed for your state on the form. For electronic payments, you can use the IRS Direct Pay system or pay through the IRS website. Always check the IRS website for the most current mailing addresses and payment options.


Is there a deadline for filing Schedule M?

Schedule M FORM of the 1040 income return for the making work pay tax credit has to be filed with your 2009 federal income tax return.


How much tax will pay on 61000?

If a person makes between$60,950 and $61,000, they will pay varying amounts on $61,000 depending on how they are filing their income tax returns. Someone could pay between $4,284 and $3,949 if filing taxes on $61,000.


Where do you put strike pay on 1040 tax return?

Strike pay is considered taxable income and should be reported on your Form 1040. You will typically include it on Line 1 of Schedule 1 (Additional Income and Adjustments to Income) and then transfer the total to Line 8 of your Form 1040. It's important to keep any documentation related to the strike pay for your records and to ensure accurate reporting.


What happens to someone for not filing there taxes and claiming more dependents then they had?

they get taxed more and if they don't pay that then they get sewed


How much can you pay someone without filing a 1099?

599.00 anything over 600.00 you need 1099


If someone has declared bankruptcy must they still pay child support?

Yes. Filing bankruptcy does not end your obligation to your offspring.


Should I file a 1040 this year?

You do not need to file a 1040 unless you make over $100,000, are self employed, a partner in a business, shareholder in an S corporation, or a beneficiary of a trust or will. If you have to pay household employment taxes or itemize deductions then you would need to file a 1040 for these, otherwise you can file a 1040EZ.