 How is it possible for you to owe the IRS money if you were unemployed during that tax year? |
| I was unemployed during the 2006 tax year. I did not file a tax return for that year. I just recieved a bill owing the IRS taxes with penalty charges. How is it even possible I would owe the IRS ... |
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 Do you have to pay council tax if you are living on your own and under 18? |
Hi
Do you have to pay council tax if you live on your own and are under 18? Or is it only single persons discount you can apply for?
T... |
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 What is income tax used to pay for(UK)? |
I understand that NI tax is used for the NHS and Welfare when u become unemployed or sick.
council tax is used for schools, home helps(this should be under NI as it is health related), refuse ... |
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 If my grandmother gives my dad $10,000 as a gift each month, what will my dad have to pay in taxes? |
| My grandmother has recently discovered gas on her property, and is generously dividing her monthly EOG checks between her children. Each month, she is giving my dad (and each sibling) about $10,000. ... |
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 Do i have to pay tax if i just want to sell a couple of things for profit on ebay? |
Ok, so i've bought some stuff which i thought was an absolute bargain and i want to sell it on to make a bit of profit. Do i have to pay tax on the profit i make?
This is just a one-off ... |
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 What is the best software to do others taxes? |
| I recently received my tax preparation certification and I was wondering is there any software in particular that would be a good ideal to do other's taxes. In the past for friends and family, I ... |
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 If my partner goes to work? |
and earns £680.00 per month and our rent is £290.00 per month plus council tax and we have a child id stay at home how much working tax credit and housing benefit could we get
Additional D... |
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 Will the irs withold a percentage of stimulus payment for back taxes, or will they keep the entire rebate? |
| I was told that the irs will only keep a certain percentage of my rebate due to a 2006 tax obligation.... |
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 If I filed my taxes- and claimed myself- what effect will this have on my parents return? |
| For the past 21 years my Dad has always claimed me...I always e-file, (for the past 4 years) but never checked the box to claim myself- this year, I don't know if I missed it- but I filed ... |
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 Are UK parking tickets tax deductible? |
Additional Details
Sorry, I should have been more precise. I was talking about tickets incurred by a company's delivery fleet.... |
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 Should females pay more tax than men? |
When they are single their boy friend buys the drink and picks up the tab.
Girls are not required or expected to buy expensive items like houses and cars whereas men are required to do so (... |
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 I just got a 1099 form and it says $6523.50 under Nonemployee compensation? |
This one of my partime jobs that I get checks without taxes,
I've never done a 1099 before, How much taxes am I looking at paying? I read some of the other answers, some said it'... |
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 Do strippers have to pay taxes? |
| My friend was a stripper and she never did her income taxes, does she have to?... |
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 Will i receive a relief check if i did not make 3000 dollars last year? |
| I was away for the majority of the year in some legal trouble to say the least but i did file taxes for the little amount i earned in say a month or so of work. Will i get a check or no?... |
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 Turbo tax direct deposit.......say it ain't so...........!? |
| I did my 2007 taxes thru turbo tax and e-filed. I had my fees deducted from my refund and then the rest was direct deposited into my bank account. I am hearing that if you did your taxes this way,... |
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 Overpaid at work and now work wants to be repaid for their mistake? |
| I've been working at an electrical company in Texas as an apprentice for a little over a year now. The company I work for pays apprentices based on the scale of the job. I was working on a job ... |
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Charlie W | Confused about the W-4? |
This is my first job and I have to fill out a W-4.
I'm single and 19 years old. My dad said he's still claiming me as a dependent. I think I was asked to fill out exemptions and the general option was a 0 or a 1. I was told that it goes all the way up to 9. If I file a 9, would I get less tax deducted out of my paycheck? My dad said he'll pay for all the taxes at the end of the year.
Additional Details
I am working full time over the summer and probably part time over the rest of the year. I will in all probability make less than $5000+.
I just don't want to get into any illegal tax fraud.
My dad said he'll pay my taxes for me, and I am a dependent. So I should file a 0? If I were to want more money now instead of waiting for the end of the year, I should file a 1? I'm guessing 9 is for someone who's married and with a lot of kids? Or would I be able to file a 9 and that would be no additional taxes at all taken out of my paycheck? |
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Chris L.
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Is this a full time or part time (summer) job? How much money will you be making this year? If you make less than $5350 you will get all your federal withholding back when you file next year anyway. You cannot not pay taxes all year then in one lump sum if you will owe however, taxes do not work that way, you must pay at least quarterly as you go. Your W-4 should be single/0 if someone can claim you, single/1 if you claim yourself. If this is merely a summer job, then not much will be withheld anway. |
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Judy1
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You should file zero since you are a dependent. Legally you aren't allowed to claim more allowances than you are entitled to.
Depending on how much you make for the year, it might not even matter. You can make up to $5450 and not owe ANY tax if you are a dependent.
If you don't live at home for over half the year, or if you are not in school full time for at least 5 months of the year, your dad can't legally claim you. |
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Ms. Angel..
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Visit IRS website: www.irs.gov and type in Withholding Calculator
Tips For Using This Program
Have your most recent pay stubs handy.
Have your most recent income tax return handy.
Fill in all information that applies to your situation.
Estimate values if necessary, remembering that the results can only be as accurate as the input you provide.
Consult the information links embedded in the program whenever you have a question.
Print out the final screen that summarizes your input and the results, then use it to complete a new Form W-4 (if necessary), and keep it for your records. |
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Jss
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Claim 0 or 1 allowances on your W4.
Read: http://taxipay.blogspot.com/2008/02/filing-w4-employees-withholding.html |
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DJ
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If you are in school full time and your parents claim you and will get less than $5,000 then you will not owe any federal taxes for 2008. You could claim exempt for 2008. You just need to make sure that you change this for 2009 if your situation changes in 2009.
$5,000 less the $5,450 standard deduction is less than zero - leaving you no taxable income. Any income over $5,450 would be taxed at 10%, so if you made $6,450, then $6,450 less $5,450 would be taxable income of $1,000 - thus you would owe $100 in taxes.
Normally, if you are single, and your parents do not claim you, you can claim two exemptions and still be OK with taxes at the end of the year. Sometimes, you may have to pay a small amount at the end of the year. It all depends on what kind of deductions you have.
If you are in school full time, then your parents can claim you until you are 24 years old - if you do not provide more than one half of your own support - including room, board, car, food, tuition, books, insurance. |
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masterratzell
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Claim 0 or 1 allowances on your W4.
Read: http://taxipay.blogspot.com/2008/02/fili... this place is good |
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GG
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if you file 9, yes that will be less taxes taken out but you may end up owing taxes by the end of the year. the best thing to do is file 0 and if it asks are you being claimed as as dependent on someone elses, put yes/ |
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RUSerious
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Technically, from a legal standpoint, you are only allowed at the most one exemption. If your father can still legally claim you as an exemption, i. e., he provides over one-half of your total support for the year, I would suggest that you claim zero exemptions on your W-4. If your tax withheld is greater than your actual tax liability when you file next year, the excess will be refunded. |
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