 Would you support a national sales tax over paying a federal income tax? |
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It would seem to me that the argument against a national sales tax is that it would hurt the poor.....the poor are already VERY screwed.... |
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 How much tax will I be charged if I work a part time job aswell as my full time job? |
Additional Details
im in UK and work full time- 40 hours a week
my part time job will be about 30 hours a ... |
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 What bill you normally pay more ?? moneywise? |
| electric, telephone, cooking gas, water, income tax ??... |
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 I just got out of prison and i havent filed taxes since 1994. how do i get right with the irs? |
| i have not been in prison since 1994. I have worked 2 or 3 mos out of every year since 1994. I just never filed my taxes.... |
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 Should I claim dependents? I currently claim 0 but...? |
| My husband and I both work full time. We have 2 children. Currently, both of us claim 0 dependents. I thought I read somewhere that the person who makes the largest salary should claim the least ... |
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 A paper check if you got the RAL....boo hoo!? |
Q. I chose direct deposit for my 2007 tax refund but also requested a refund anticipation loan (RAL) from my preparer. How does that affect my stimulus payment?
A. Taxpayers who use RALs ... |
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 Please tax preparer!Do you think I should do my taxes jointly? We are living apart but we still married...? |
I need some advice about tax refund information.
My husband and I we are living apart for about 5 month.
Now my husband wanted me to claim at my job " married 0", while last year ... |
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 Can I request that federal income taxes not be deducted from my salary? |
| I beilieve the income tax is illegal. Is it manadatory that federal income taxes be deducted from a person's salary?... |
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 How do I deduct my own taxes if my employer is not deducting them? |
| I have asked a similar question a few times, and I wanted to clarify my situation in the hopes of being able to get the most accurate answer. I was hired to work as a secretary for 40 hours a week at ... |
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 Am I REQUIRED to pay estimated income tax quarterly? |
| I'd rather keep my money, earning interest on it, than send it to the IRS throughout the year. Is there a law that says I must pay it quarterly instead of paying it all on April 15??... |
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 Can i claim my fiancee's 2 sons on my tax return to claim the EIC? |
| He has full custody and they have lived with us for over the past 2 years, however i did not claim them last year. I have been their main provider for 2006 as their father has not worked, and their ... |
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 Is an insurance settlement considered taxable income? |
| Wife was in an auto accident. Our attorney negotiated a small settlement with the insurance company. IRS claims we owe tax on the settlement because our attorney reported the settlement amount as ... |
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dawn c | Can I deduct space in my home used for an office for my business? |
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Ola
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yes, provided that space is used only for business. |
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kokopelli
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Yes, as long as that space is used ONLY for the business. If it is used at all for personal use then it is not allowed.
Essentially if you use 10 sq ft of floor space and your house is 1000 sq ft, you can deduct 1% of all your housing costs: utilities, repairs, unless any of these items apply ONLY to the business use of space in which case you can deduct 100%.
This is one of the IRS's favorite items to flag for abuse, so tread carefully here. |
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Patricia S
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Only if it is completely isolated from any space used for any other purpose. Such as a desk and files in a room also used for a guest bedroom when needed wouldn't qualify. Nor would a corner of a den set up as an office or any similar situation. |
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feihko
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Definitely worth finding out whether there will be any capital gains tax implications. For this reason it can be smarter not to bother if you own your own home that is. |
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teddy bear
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I could when I ran my home daycare. I would say yes, but ask a tax professional to be sure. |
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Jo Blo
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yes |
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biscuitperifrank
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The answer is yes, but talk to an accountant or tax person on details |
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msshaden
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Most definitely. You will need to know the dimensions of the space you are using. Based on the total square footage of your house, you will be able to deduct any expenses incurred related to your business, including utilities, mortgage interest, etc. |
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acmeraven
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Yes. Get yourself a form 8829. You take a percentage; determined by office size (10 x 15=150 square feet) and dwelling size (30 x 50=1500 square feet). Divide the 150 by the 1500 for a percentage of 10%. Further down on this form you list your property taxes, mortgage interest, utilities, insurance, etc.(or rent if you you don't own). If the total of all expenses was $ 4,500 then 10% of that or $450.00 is what you could deduct for a home office. The form 8829 is fairly simple to use; just start at the top and work down. |
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