 Are Remitances Tax Deductible in the US? |
Hi Folks,
Just wanted to know if I can use any money I sent overseas to family can be used as part of my Income tax deductibles?
Thanks.
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R... |
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 Daughter's father filed EIC for 2 past years' returns. My daughter lived with me entire time. What happens? |
| I didn't file for 2005 & 2004. I am due a large refund, however, my daughter's father, in California, claimed her those 2 years. She has lived with me in Pennsylvania for the past 5 ... |
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 Please help...1st job and taxes!!!? |
I got this W2 thingy!?
I earned 415.39 and federal income tax witheld was 5.90
state income witheld was 7.03.
so what do I do now!?
Should I file or no?
Additional Details
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I am single, 39 yrs old, no kids, never married...no dependents.
... |
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 If I am filing my taxes, live with my boyfriend (obviously not married), can we both claim our son? |
How do we both do this safely? I don't work, my boyfriend does. Should only one of us claim the EIC?
Additional Details
I actually did work in the start of the year, before the baby ... |
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claudiac1983 | Am I still claming Exempt on W4? |
I claimed exempt last year on my taxes, and ended up owing. How do I know if Im still claming exempt? On my paycheck the deductions are:
Fed MED/EE 43.68
Fed OASDI/EE 186.75
CA Withholdng 156.70
CA OASDI/EE 23.15 |
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notaperviemusculargent
 |
Definitely do not claim "exempt from withholding" when you fill out the W-4. The IRS checks up and the majority of corporations and private firms are going to withhold from you, anyway. You may have had no Federal income tax liability in 2006. From what you show, there was no Federal income tax withheld. But you had California income tax. Unless you got married or have a dependant, you well may owe Federal taxes unless you qualify for the earned income credit. That would be very small if you have no dependants that you can legally claim, and not at all if you are under 25 and over 65.
Did you really owe on your Federal? I "interpolated" from the social security that was withheld from you and you made c. 3010. Even you someone claimed you as a dependant, your standard deduction of 5350 wiped out your income. You have an additional source of income, or you were talking about California, one of the worse States in the nation in everything, including taxwise. If you owe, you could be in a penalty situation. It's still early in the year. Claim one exemption if you are single and can claim no dependants. If your payroll department messes up and does not change your present claim, you will have to get payroll to correct or send in estimated tax. If payroll still has not corrected and you have not sent any estimated tax to the IRS by June or July, you may want to claim zero so there will be no risk of owing the Federal government. Check your stubs every time you get paid. Good luck. |
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Gary
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Exempt is for people who have no tax liabiity last year or for the current year. Usually low wage earners such as students working for short periods can use "exempt" with no major tax consequences. Since you owe money last year, you should not be using exempt. |
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travelguruette
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You need to fill out a new w4 with your employer |
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src50
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That means you need to reaccomplish your W-4 to have some tax withheld. See your employer. |
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Judy1
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Since nothing was withheld for federal income tax, it looks like you are. See your payroll or HR people immediately and get it changed. |
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bostonianinmo
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An EXEMPT claim from last year will automatically exipre at the end of this month if you did not submit another EXEMPT W-4, assuming that your employer is handling your pay properly. If you don't file a new W-4 you SHOULD revert to Single and 0 automatically.
Based upon the numbers you are showing there's NO WAY that you are EXEMPT. You should IMMEDIATELY file a new W-4 to ensure that the proper amount of tax is withheld. No Federal income tax is being withheld currently and you need to fix this quickly or you will wind up owning again next year.
A couple of warnings are in order, however. Since you improperly claimed EXEMPT last year, you may be subject to a $500 administrative penalty for filing an improper or fraudulent W-4. And since you owe there is a very good chance that the IRS will issue a Lock Letter directing your employer to withhold tax at a level determined by the IRS. Usually this will lock you at Single and 0 or maybe 1 regardless of what you're entitled to legally claim. |
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v b
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You need to see FEDERAL withholding. There isn't any.
There should be, because as soon as you owe on your taxes, you can no longer file exempt on the W-4. Update the W-4 immediately. |
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Get Going
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Ask your company's HR department, my guess is if after owing for 2006 you may have filled out a new w=4 if not, you may still be exempt. |
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