 What would happen if there was no income tax in the U.S.? |
| Where do the proceeds go after you pay your income taxes? I heard U.S. Debt and nothing goes into what we see everyday such as schools, roads and the such.... |
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 Tax Advice? |
I saved $30,000 this year after taxes. I paid $10,000 in taxes. I need to get rid of the $30,000 in my bank account before Dec 31st so I can get most of the $10,000 back when I get my refund.
<... |
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 Help with my p45??? |
| I am a hairdresser and I did my placement at my 1st salon then left after being there for over 3years and worked in another salon I gave them my p45 and the salon owner said that they had sent it off ... |
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 Do i have to pay any tax on my shares? |
| I was given a sum of shares for the company I work for 3 years ago and I am allowed to exercise these shares as of 22nd Jan. I have checked and the shares are approved by inland revenue, (which seems ... |
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 Can I claim my wife as a dependant this year? |
| Last year I claimed my wife on our taxes, she didnt work and I had a salary of about $21,000. I received about $1200 on my refund. This year I am at around $24,000 for the year with my wife as a ... |
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 Car on road with no tax? |
| who do you inform if there is a car on the road with no road tax on it please?? ive tried dvla website but no ... |
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 I have two jobs, Can I file a tax return with just one of them? |
| I had two separate jobs for 2007. One the first 6 months, then the second the last 6 months. I did a "dummy" return online, just plugging in numbers to see how it would turn out when I do ... |
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 How much money can I make on the side and not claim it on my taxes |
| I live in Massachusetts and I was wondering how much money I can make on the side without having to claim it on my taxes?... |
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 If my boyfriend pays child support for his son, can he still claim him as a dependent for the taxes? |
| my boyfriend has a son whom he pays child support for. his son currently resides with his mom (the kids mom). can my boyfriend still claim him as a dependant?... |
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 NI and tax?? |
| At my part time job we are currently in the process of employing a new accountant.. In the meantime each of us are putting our contributions aside so as we dont owe any come the end of the tax year.. ... |
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 Living w/ parents and recently they want me to pay them $500 for rent/live in. Can I get a tax break? |
| i live with my parents at there home and am 25 years old. they recently told me that I would have to to chip in monthly expenses. My friends pay up to $250 a month but they expect $500 from me. Is ... |
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 When can I claim a tax rebate? |
| I started a new job in August and have been paying too much tax - when can I claim it back?... |
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 Should i file taxes this year if i only made $4000? |
| i am single and live in CA...or can i wait until next year to file for 07 and 08?... |
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 I just got a $5000 bonus, but only got about $2700 after Taxes; are we paying too much in taxes? |
Additional Details
Thanks everyone for educating me on the fact that bonuses are taxed at a higher rate. I didn't know that. :)... |
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Bruk | Can you use your losing lottery tickets as a tax write-off in U.S.? |
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broboca3
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If you are a professional gambler, you can 'expense' the losses on schedule C. Be sure to keep written documentation. Any individual who itemizes deductions (schedule A), can claim the losses - BUT only up to the amount of winnings reported. |
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bostonianinmo
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You can deduct gambling losses -- only to the extent of gambling winnings -- on Schedule A as an itemized deduction. |
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bold4bs
 |
In general, no.
However, if you win a substantial prize, you can claim the losing tickets as a Schedule A deduction not subject to the 2% limitation.
Dont even think of claiming a losing lottery ticket as a Charitable Deduction for Educational purposes. |
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T H
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Save those losing tickets in case you ever hit the jackpot!
If you win, you get to deduct the cost of all those bleeping losers! |
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mdboze
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You can only use gambling losses as a tax write off against gambling winnings.
Example: If over the course of 1 year you purchased 100 (losing) lottery tickets, and then won $100 on one ticket, you could take a tax deduction of your 100 losses against your winnings, and pay zero taxes on your $100 winnings. |
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djgelee
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If it is not, then it does not make sense. They want tax on winnings but no deductions on non-winning tickets. Law makers need to make changes. |
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Mathew
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You can take a deduction only if you itemize on schedule A. It would be miscellaneous deduction not subject to the 2% limit but can not exceed the gambling winnings on line 21 of the 1040. |
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wizard
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yes,but need to keep the tickets |
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perseus
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well if you can,it'll be a world first.Gambling debts are'nt tax deductable |
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Wolf
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You are joking right?
Hahahah pretty funny there.... |
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