 Is signing bonus money earned income for tax purposes? |
| We got a signing bonus and relocation expenses at the end of 2007. Is this considered earned income for the earned income credit, or should I not apply for the earned income credit? This is the ... |
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 My parents just died and my question is, is there any taxes on what is in the estate? |
that I will have to pay.
They have $100,000 in stock
They have $100,000 in a savings account
They have $100,000 in a money market IRA
They have a condo that we will be selling at ... |
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 Can debt collectors garnish your tax refund? |
| I have a large amount of medical-expense debt that I'll never be able to pay off. Can they/collection agencies take your tax refunds?... |
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 Can my dad claim me (i'm 24) on his taxes? and my son as well?///? |
| my son and i lived with my parents for most of 2006 and, he wants to claim me and my son. i am 24 years old and, married but, have been seperated since april 06'. and, my son is not my husbands.<... |
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 I recieved an e-mail from aJohn Smith, UK National Lottery representive claiming I WON. Is it legit? |
| I e-mailed this person back asking what I had to do. Of course he said supply him with some personal information that would only be used for claiming the winnings. This isn't the first e-mail I&#... |
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 Can my ex's mother still claim me&daughter on her taxes,even though i moved out? |
| Okay i lived there for two and half years.But with in that two years i moved about 6 times.(cause of the abuse) And i wasn't working,she was paying for everything, She claimed me during 05,06,&... |
|
 State Return - I live in Texas - I know I don't *have to* file a State Return since I live in TX but one of |
| my W-2's state that $6675 was witheld - #16 - State wages, tips, etc. Is this a problem? Should I file a State return? Can I file a State Return? Would it help the fact that I owe money for ... |
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 Why do I OWE money on my 2007 tax return? |
| I just don't get it. Last return (for 2006) I was on unemployment for a few months and ended up owing $133. This year, I held 4 jobs - total income of around $1700. Why do I owe twice as much ... |
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 A question from the States? |
| Does any one recognize this? I know it's a scam, but has any one else seen this. ( UK National Lottery Online Promo Progamme ). Any info is appreciated. It's going on all over here and the ... |
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 Help regarding child tax credit? |
| Does anyone know if we can claim CTC my partner is now self employed but has never paid tax or national insurance before, i am currently unemployed and due to give birth to second child in dec.... |
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 IRS and Poker Winnings???? |
Ok, I am going to start off and say that; I work for the federal government and I am a little upset about this. If you win more than $5,000 you have to claim it to the IRS. What is up with that.
... |
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 If I filed bankrupcy, do I have to claim forgiven debt as income on my taxes? |
Additional Details
I filed bankrupcy in March of 2004, it was discharged in February 2005.
When I filed my taxes in 2005 I didnt claim anything I filed banrupcy on as income.
... |
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 How to qualify for Head of Household, and what is a dependent? |
| Can I claim my dad as a dependent even though he did not live with me? Also my fiance lived with me this last year and he did not have income because he was in college can I claim him?... |
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 How do I get a VAT number? |
| For a new small business.... |
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spiffy | Can I claim child support I payed out every week as a deduction on my federal & state income tax returns? |
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 |
 
R Worth
 |
No, it is not tax deductible by you OR taxable income to the other parent. |
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T H
|
Everyone is correct....the answer is no! |
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wizjp
|
Only if you want to go to jail for fraud. Not deductable |
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bostonianinmo
|
No, child support is NEVER deductible. |
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loandude
 |
No. Child support payments have no impact on taxes. That means that the payor cannot deduct them and the payee does not claim them as income.
If any part of the child support is termed spousal support or alimony, then that portion is tax deductible. |
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Yvette B yvetteb
 |
NOPE, child support isnt taxable nor deductable, but the kids are. ...and you cant use them as dependants (write offs) just because you paid child support.
if its not in your divorce papers, or court order (as to who gets to claim the kids), then they go by who pays more then 50% of the childrens living expenses and how many months they lived with you.
if you both claim them, you will both be audited by the IRS.
you pay what? 400? 600? 900?
ok, lets see...
rent; 1000
electric 300
food 400-600
diapers 75-150 per month (fluctuates when baby is sick or teething)
heat 300
phone/cable 100
auto; (for doctors, dentists, take to school when they miss the bus, pick up when sick, pick up medicines, get food) 200
clothing/shoes/boots 200-400 every 2 to 3 months (seasonal and they grow)
that doesnt even include dental, doctors, glasses, daycare, hair cuts, school supplies, school lunches, school projects, class trips, class pictures, over the counter medicines, prescriptions, laundry det, dish det, cleaners, soap, shampoo, toothpaste, christmas, easter, halloween, tooth fairy, birthdays, etc. and sooo much more
in my house, the children go through 1 gallon of milk per day; thats $3.50x30... almost $100 a month in milk. and thats JUST milk alone.
TAX INFO
http://www.taxsites.com/index.htm
http://www.divorceinfo.com/taxes.htm
http://www.irs.gov/taxtopics/tc354.html
http://www.irs.gov/taxtopics/tc422.html
http://www.irs.gov/faqs/faq4-5.html
http://www.irs.gov/localcontacts/index.html
http://www.irs.gov/advocate/index.html
http://www.irs.gov/publications/p525/index.html
http://www.fms.treas.gov/faq/offsets_childsupport.html
http://money.cnn.com/2007/02/14/pf/taxes/do_not_miss_tax_breaks/index.htm?postversion=2007021411 |
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Judy1
|
No, child support isn't deductible. |
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jseah114
|
Nope. Child support is not tax deductible. What you pay in child support though, can be used in calculating whether you have paid for more than 50% of the support for the child in determining whether you qualify for claiming the child as your dependent. |
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~*WoodSmoke*~ ~Environment~ daBlogPound,Inc
|
It is disheartening but everyone has answered correctly. Now, if it were alimony - yes......
I have always wondered why there couldn't be some type of tax credit for the individuals who do pay their child support, because they have 1000's of dollars paid out each year without the benefit of a credit. It is the right thing to pay child support and I would hate to see a parent who receives it taxed - maybe like an energy credit..... |
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TaxMaven
|
Nope, but you may be entitled to claim the children as dependents. it depends on your divorce decree &/or the cooperation of your former spouse. Check w/ your divorce attorney. |
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