 Do I need to file income taxes? |
| I recieved almost $6000.00 in Social Security Disability Income, State Disabiltibilty as of 05/06 and $700.00 earned income from my previous employer that was accrued during my medical leave.... |
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 Why is husband's check on hold? |
My husbands last paycheck was garnished because the student loan place claimed he owed money. They called him and let him know it was current now and up to date (After taking over 550.00)
T... |
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 Uh oh! I forgot to pay my taxes!? |
Last year I owed a small amount of money for my federal taxes. Not only did I forget to pay, I forgot the amount to pay! What do I do this year?
Additional Details
Serious answers ... |
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 Can i work full time in the uk if i am 17? |
hi everyone, i'd like to ask u, can i work full time in the uk if i am 17?
thanks for answers ... |
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 My 31 year old son plays in a rock band and tells me he hasn't filed an income tax return in 10 years. ? |
| he has never earned much and it probably was mostly just cash payments. question. he is in serious IRS trouble?... |
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 Tax deduction? |
If you give a gift of money to someone in need, can you write that off as a deduction, and how if so.
... |
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 Is TurboTax worth it? |
| I've heard a lot about TurboTax, but with the price of the software, is it really a good investment? There are different levels of membership as well--which is the best value for your tax needs? ... |
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| Do I still have to any tax? 10 pts for best answer!!!? |
I received a large sum of money ($12,000) from my motor vehicle insurance company. Do I have to pay any taxes? If I do, then how much? When do I pay? How do I pay?
i will be rewarding 10 ... |
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 Does anyone have any TRUE info about delay of refund? |
| We all have heard so many reasons about our refund date being pushed back, I was just wondering if anyone might actually have the real reason why. there have been so many possible reasons, but some ... |
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 How strong is the IRS? |
| What power do they have and to what extent can they use it?... |
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 How do you go about stating your own income on taxes. i work under the table.? |
i would like to have something to bring to, say a dealership or something. am i going to owe a bunch of money when i go to say H & R Block
Additional Details
i guess i worded it ... |
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 Can I claim my baby born on August 13th 2008 on my taxes? |
Hello my little one arrived in August I was wondering if I could clain him on my 2008 taxes.
Thanks in advance:)... |
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 Can I deduct improvements made to a house I sold in '06, and do I have to pay taxes on profits from the sale? |
| I sold my primary residence in 2006, for $125,000 and bought a new house for $205,000 in the same month. I used 75% of the profits from the sale ($30,000) as the down payment for the new place. My ... |
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 Is money gifted to my children taxable under the kiddie tax law? |
| My mother gave each of my children $10000. Does the kiddie tax law affect this?... |
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 Do you have to file your taxes every year? |
I heard that there is a law that says we don't have to file our taxes every year as long as we don't go into the negative? Does anyone know?
Additional Details
Actually I did ... |
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| Paying taxes...? |
| I am only 17 and s at the moment don't really pay many/any taxes, however, it just seems to me that taxes are going up and up. I heard on the radio that 3/4 of somebodys wage goes on tax and ... |
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lisa m | Can anyone talk me through the self assessment tax process? |
Am working freelance for about 3 months, and am absolutly clueless when it comes to practical financial matters, I would be sooo grateful if someone could post up step by step instructions about what to do and what to expect.
Like, do I have to give proof of all my outgoings? or just the stuff I want to claim tax back on?
Thanks to anyone who helps out this dunce!
:) |
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G!
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Funny this, I was just spending today going through my Tax records for my own quarterly reveiw.
visit http://www.hmrc.gov.uk as it contains so much info you could scream. In the self-employment section, you can download a sample of a self-assesment form and all the other forms, and the guidebooks and notes, and more that I can't even list.
And you can phone them and ask them to send you copies.
Ask them about start-up courses. These are free courses they offer to explain tax in more detail. "Self Employment" and "SA for the Self employed" are really good for clearing up matters.
Also, there are so many books out there to ensure you keep your accounts records in perfect order. I like "Teach Yourself - small business Accounting" for my knowledge.
I really think speaking to an accoutant is a good idea, but then again, I never went to see one, and it didn't hurt me. But I felt ready after doing what I mentioned.
One more thing, 3 months operating as self employed, so you registered in May. Since you registered after 5 April, you do not have to worry about submitting tax returns till 5 April 2007 (Or thereabouts). |
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Topshopcitybeachbabe
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you bascially need to go to the inland revenues website which is www.inland revenue/tax.org.uk |
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oyuzim
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My friend is a Tax expert, would you want me to introduce him?
Generally speaking, you should keep all the receipts/ records which you think related to the business you do. |
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John N
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A lot of the answers are pointing you in the right direction but their is one thing missing. Have you notified the HM Revenue and Customs (HMRC) of your new self employment. There is a 3 month deadline for this with possible penalties for failing to do so.
In addition you could be liable to Class 2 National Insurance Contributions (depending on the size of your earnings). The form to start paying these is part of the notification form CWF1.
You can get this form of the HMRC website or by dropping into your local HMRC office. |
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Venu
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I am an accountant, I can help you with all this and cost around £100 a year |
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nettie
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Hello Lisa you are not a dunce as almost everyone has problems first off with filling in this form. My advice to you would be to find a self assessment tax adviser. You should find one listed in your local telephone directory (possibly find one at a solicitors office) and I do not mean HM tax inspector but an independent tax adviser.
I suggest this because it can very difficult knowing what information is required on these forms (as you have already found out). Even if the cost to you for an adviser was £50.00 in the long run it will be money well spent, as an adviser has all the knowhow and ways to save you money. It is also important to put the correct information as you may unwittingly end up paying more tax than you need for the next few years.
I know I haven't given you much in the way of info as you asked but I do hope that my advice be of use to you.
PS It is possible to fill complete this form on-line now. The correct website address is probably on your assessment form.
Good luck to you and don't get boggled eyed. Stay cool.x |
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cedley1969
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I'd pay for an accountant, there are so many areas you can save tax on that it can be a false economy to do it yourself, most will do it on a yearly basis if you just keep track of your incomings and outgoings. If you allow for your time to do it yourself and the amount the accountant will save you its not worth trying to do it. Plus they are tax deductable! |
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wordykat
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You should go & see an accountant as long as you have kept your books in order this doesnt cost too much & he will claim for things you didnt even think about & save you money in the long run. |
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Steve C
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I would get professional help from an accountant/tax expert as this is about the amount of money you have and you want to be careful with filling this in and have advice from a professional person. |
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Conservative
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fill in the form |
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