 How Frustrated are you with the stimulus hype?!? |
| I swear this is so frustrating! The irs says one thing the news says another...as helpful as this money would be the government should not do this anymore, they are just sending us into a frenzy!!!<... |
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 ^^ :@ EMA SUCKS yes? |
:@:@ pissed off contact email?
does anyone know where i can write to or email
to complain about the ema system
i dont qualify because my dad earns more but not by that much
and it ... |
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 Hi, My daughter has left school and got her fist part time job.? |
She is only 16 and is being taxed on everything she earns.
Is this right? If not has any one got any advice on how i get the tax back for her or get a lower rate??... |
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 Has anyone got their tax rebate on time? |
| My SS #'s are 69, which according to the schedule the deposit date would be the 9th. I used DD when i filed in january. I am eligable for the rebate, but i have checked the irs website and when ... |
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 My girlfriend and I are, obviously, not married. Can we both claim our new daughter for taxes? |
| We are each filing our own taxes, but the code is a little confusing. Can only one of us claim our daughter, or can we both?... |
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 I received my husband and I's stimulus check and cashed it at the bank, Do i have to split it with him? |
| My husband and I are seperated...i received the stimulus check yesterday, Both of our names were on the check, I took it down to the bank, Only signed my name and they cashed it for me. My husband ... |
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 If we ALL stopped paying Tax.......? |
| would we MESS up the whole system if we ALL STOPPED paying taxes for, say, three months? would we all be made criminals?... |
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 STOP paying YOUR MORTGAGE? - England.? |
| Apparently I`ve heard that on the 1st March, 2008, everyone in England is going to stop paying there Mortgage payments for 6 months, in protest of mortgage Inflation....Is that right? and would that ... |
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 Has anyone refund status been updated yet? |
| wanted to know if anyone got their original date back to the way it first was because I know yesterday the IRS was facing a lot of computer problems? or is it still saying the 10th or the 24th?... |
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 Will I receive a stimulus payment if I dont file my taxes this season? |
| I owe for last season taxes still (1099) and I dont plan on filing this year, I heard somewhere that my stimulus payment will be credited to my owed taxes, is this true?... |
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 What will happen if your employer doesn't send out the w-2 by Jan. 31st? |
| Nobody has gotten a w-2 from this company as of yet. What happens if no one gets their w-2 by the 31st?... |
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 How do I prepare my taxes from my home computer? |
| This will be my first time filing my taxes on my computer. I file a 1040ez or 1040a, no kids, no property, single, no additional income outside of my job. What is the best software to use or does the ... |
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 At what point is it necessary to declare for tax purposes money received for a task? |
| For example, if I move and pay my friends $100 each to help me load the moving van, obviously no one is going to declare that as taxable income. The high-school kid who mows my lawn every couple of ... |
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 Who do u think will get bk more by claiming daughter? |
| i worked last year and my girlfriend didnt. she can file earned income credit right? do u think she could get more back by claiming her or would it be the same no matter if i do or she does?... |
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 Can we have tax exemption when we buy a new car? |
Additional Details
Actually i am a software professional, that's y i am ... |
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rezzer0088 | Claiming my kid on my taxes? |
not sure how this works,,,,i am engaged and not sure who should claim our kid, i make 65,0000 and she makes 20,000. the house is in my name, so i will be claiming the interest on the house....does it make a difference who claims her? she said she would get more money back , but isnt it a set amount per kid? any help would be appreciated.... thanks! |
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bl_ttn
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i dont think you can claim the house tax to her, cuz house is not under her name, and she also not depend child on you already, if you still want to, go ask your cpa |
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jseah114
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The child tax credit is a set amount per child. However, the tax benefit of the dependent exemption, and the head of household filing status versus single is dependent on the marginal tax rate. Generally, since your income is higher than hers, you would be in a higher tax bracket than she, so you would receive more of a benefit for the head of household filing status and the dependent exemption. However, this also depends on what is the amount of mortgage interest you paid. If you are itemizing and she is not, the higher standard deduction for head of household may benefit her more. Also, with a child, she should be able to qualify for the earned income credit, while you are above the income limit so you would not.
Your best bet is to run a calculation of your return with the child and without, and do the same with hers and then compare the two. |
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DieNarrin
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Your girlfriend probably would qualify for the EIC - Earned Income Credit so it should be more advantagous for her to claim your child.
Check for a VITA (Volunteer Income Tax Assistance) location and they can really help you with questions like this. Alternatively if you have a tax software (Like Turbo Tax) you could try it both ways and see who comes up with the larger refund. |
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∞infiniti∞
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The earned income credit is based on low income. $65,000 would probably disqualify you for it. |
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Weetie
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Since you have more income you probably supported her. In order to do the RIGHT thing - the person that pays MORE than half of the child's support should claim the exemption....That's all I have to say about that...
Good Luck! |
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hawkthree
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She may be able to get more back because with $20K income, she should get some Earned Income Credit. It's extra money back for low income people. To get it she will have to file as Head of Household with a dependent.
On an income of $65K you don't qualify for Earned Income Credit. |
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skip
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jseah is spot on. You should do your returns together, just as suggested and see which way gives you the largest total refund. It's going to be a close call either way. Whatever you do, make sure one of you claims your daughter! |
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unan1m0us
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for 2006, the amount allowed for each personal and dependent exemption es generally $3,300. |
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shaydzofluv
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I just did someones taxes the other day and the benefit was He claimed the house and she claimed the kid. They wound up getting almost $11,000 back between both of them that way. Considering you made more she would get more back because she would get the earned income credit. You wouldn't get that. But claiming the house is a big enough deduction for you to claim and then she can claim the child. If you have any questions contact me. Free estimate also. |
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