Home | Links | Contact Us | Bookmark
Financial Forum Search :
   Homepage      News      Financial Topics     Finance Directories      Financial Forum      Dictionary  
Financial Forum    Taxes
Finance Discussion Forum

 If I am married what is the best way to file my taxes?
Well I got married in may 2005. Can I still file single and head of household or do I HAVE to file married. I want to know the best way to get the most money back....


 What does no cash refunds mean on a receipt?
i bought a game from a store but now i dont want it. i didnt take the plastic off or anything nd the receipt says returns up to 30 days with a receipt...no cash refunds...etc.
does that mean ...


 What would the taxes be on a $2.5 million dollar prize?
...


 My acknowledgement no is 039305757 please let me know me my application status and if possible my pan NO:-?
My First name in the application is Rekha and last name is Sundervel My DOB IS 18/09/87. My coupon number is 027252780...


 Council tax direct debit?
hi

im trying to repay my council tax arrears i have a direct debit mandate from them that they sent a while ago, should i send it?
im hoping they will accept it, do you think they ...


 I've already filed my return before Jan 31 butI received a 1099 in the mail what should I do?
...


 Will I get a refund???
I was sent a letter from the IRS about 6 months back saying I still owe 200$ for unclaimed income for my 2004 taxes. I have filed for my 2006 taxes already, and am looking at a nice refund. Will the I...


 My father invested $15K in my business in 2001. Business died year later. Can he see tax return on monies?
...


 What monthly salary?
How much would I come out with per month after tax, NI and pension at 11% if I was paid 21000pa
Additional Details
pa is per ...


 If my son is 20 and lives with me...can I claim him as a dependent on my taxes?
He lives with me and is a student....


 If I worked as an independent contractor last year...?
and only made around 3,000 dollars, but didn't file, is the IRS going to come for me? I was a restaurant delivery driver and didn't want to go through the hassle of adding up all the miles ...


 If both mine and my husbands w-2 have no federal income tax withheld, are we going to owe?
We also have two dependants, and our total income was 38k. Thanks for any help....


 We have small business, how can we reduce our tax?
We have very little expenses, use our personal for the business. We like to buy a business car, any pros & cons? Also we pay tax approx £11k each year. We are wondering if can save this money in ...


 Home inheritance?
how do you protect the inheritance of your home to your children if when you get older and may need to go in to a care ...


 What is my filing status?
I was married in Sept and filed for divorce in Nov. I left his house in Oct, we lived together since Feb. I have custody of our daughter. I wanted to know if I could file Head of Household. I do ...


 Can I claim my child on income taxes even though I do not have custody of her?
My child was born on August 18th, 2006. On October 17th, 2006 Child services placed her in protective custody of a family member. I have been ordered to pay child support, begining the first of ...


 Will I get tax money back or owe? Made =$21474. Fed. Inc. Withheld =$1477. SS Tax=$1331. Medicare= $311.?
I can't figure out how to claim myself as a dependent on turbo tax it asks for a name other than mine but i and only i support myself. T...


 Why are there only 150 million Tax payers when the U.S has over 250 million people ?
...


 What does VAT registered mean?

Additional Details
I know what V.A.T stands for but what does VAT Registered mean?...


 If a person doesn't file taxes, but doesn't owe the IRS additional money, what are the chances of a problem?
Yes, she is required to file based on IRS requirements, but if she doesn't owe money will they really come after her?...



Cupid
Claiming a dependent?
My fiance and I had a son in September. We are not married yet so we will be filing single this year.. if I claim my son this year, can my fiance claim my son next year.. or does it have to be the same person each year in a row. I know we both can't claim him.. just wondering about the following year. Thanks in advance.
                     
 




Judy1
Rating
Each year stands on its own, and you can swap the claim back and forth however you want to.


Spock (rhp)
Congratulations on the birth of your son.


it can be different people in different years.

BUT, only the person who provided over 1/2 the child's support is supposed to claim him.

support begins with the birthing expenses and thereafter includes all the spending on his portion of the housing, food, medical, clothes, diapers, etc. etc.


Griffin
It would be more lucrative for one of you to claim the child and Head of Household as your filing status. To do so, you must have provided over 50% of the support for the child (food, shelter, and colthing primarily).

Either one of you may claim the child next year and HoH as long as you meet that 50% rule. If you happen to get married next year, you'll probably file Married Filing Joint and the issue will be a mut point. Learn more about it on the link below.


declain
Rating
If you're living together, usually the expenses for child care are considered split, so claiming him this year and your fiancee claiming him next year would not be a problem


josyul026
Rating
claim it as it is his responsibility


Gator
Since you file separtly, anyone can claim the child once per year. Whoever spends the most money on the child should claim him/her or the one with higher taxable income - for greater returns.


mbaskin22
Rating
Who ever gives more than 1/2 of their support can claim him. It can change from year to year :)


taxreff
Rating
If a child meets the definition of a qualifying child for more than 1 person, the 2 can agree who will claim him. Consequently, you can alternate whoever will claim him.

The above answer assumes you live together. If you do not, for him to claim him you would have to sign over the exemption via Form 8332. That form is for divorced or separated parents, but the IRS has ruled that it also applies for parents who never married.


 Enter Your Message or Comment


User Name:  
User Email:   
Post a comment:







Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.024
Copyright (c) 2011 Financial Crisis Tuesday, May 29, 2012 - Terms of use - Privacy Policy