 What will happen if I didn't file my taxes this year at all? |
| If I didn't file this last April, but go ahead and file next April, and disregard the last year? Will I automatically get in trouble, or only if I am audited?... |
|
 Can I leave unemployment benefits off my 1040 if it makes no difference in my refund amount? |
| I really need my tax refund ASAP. I have a simple return, and the only item I lack is the 1099-G form from my state (NC) that shows some unemployment insurance benefits I received last year. That ... |
|
 Can you file taxes if your unlemployed? |
| i have a child, a studrnt but not working. live with parents ... |
|
 I left my husband. Can he file taxes using my name, and claim our son? |
| I left my husband before Dec. 1st. Can he file taxes this year and claim my son, and myself on his tax returns? Is there any way I can alert the IRS that he may be attempting to claim people who aren&... |
|
 Can you really refuse to pay Federal Income Taxes? |
| In www.zeitgeistmovie.com the last section refers to the Federal Reserve Bank as "about as Federal as Federal Express" and that the Income Tax law was never approved, then it goes on to ... |
|
 I do childcare for someone and they want to use the monies paid on childcare, do I have to give them my SS#? |
| The people I do child care for wants my EIN or my Social Security number, to use to show that they paid me on there taxes, Im not comfortable giving them my SS#, Is there any other thing I can gice ... |
|
 Do I have to report interest earned on a savings account? |
| I filed my taxes and remembered that I had earned interest on a savings account. I know the interest earned totalled no more than $1, but I just wasn't sure. My bank didn't send me ... |
|
 Anyone with the last 2 digits of S.S. # 33 got stimulus check yet? |
| I got the notice that it was coming by the 6th but is there any hope it will get here early???... |
|
 Can I try to get a tax refund again even though I just filed them last week? |
| I just recevied a tax form today which allows a student loan interest deduction for my taxes. I didn't know I was going to get this. I already filed my taxes last week. Can I add this ... |
|
 When do I need to submit my first Income Tax Self Assessment? |
| Hi, I hope you guys might be able to help me out here. I've been self-employed since July 2005 and I believe that this year I will have to complete my first self-assessment. I am definitely ... |
|
 Benefit entitlements? |
| im a single parent of three children 2 teenagers and a 6 yrold in receipt of child benefit and income support i have been told to apply for child tax credits could anyone enlighten me on this ... |
|
 Why does no one report on the fact that the Federal Reserve is a private bank.? |
| Federal Reserve is an illegal intity operating inside our gov. without any oversight. You income tax does not pay for any programs it just pays the intrest on the debt from the Fed. Res. which is run ... |
|
 My uncle left me 7.5mil @ bank Atlantique in Abidjan Cote d'Ivoir do i have to pay Inheritance tax on that? |
| What do I need to do to properly take care of the taxes for California state and federal taxes when I receive this 7.5mil? Do the appropriate taxes automaticly get taken when the transfer takes place?... |
|
 Can my boyfriend claim my 2 biological children as dependants even tho he's not their father? we live in orego |
| We have been together for 3 years and the kids live with us more than 50 % of the time. I dont work, disabled. My ex husband thinks he can claim the kids every year and get the earned income credits, ... |
|
 When filig your taxes, is it illegal to file single with all your children as dependents...? |
| ...if you and your spouse are not legally separated? My wife and I separated and I am letting her claim both of our boys. But, she is telling me that we cannot do that because there is no proof ... |
|
 I heard there was going to be a 2nd tax return for some people this year, can someone give me some details? pl |
| i heard it was gonna be between 300-600$ and it would come as a check in the mail, is this true? and if so, is it for everyone? how do i find out if i qualify? T... |
|
 How much is $500,000 after taxes? |
| Let's say you win $500,000 and you want Uncle Sam to take his right off the top. How much would that leave you?... |
|
|  |
MClondon | Do you need to pay taxes when working freelance? |
I am currently working freelance, it is only temporary and since I started, I only earned about 5K, and I should only earn another 1K by the time I stop. Do I need to pay taxes? Please advise!! |
 |
 
banthafodder1875
|
You are required by law to file a tax return if you are self employed, no matter how much you earn. You must therefore contact your local HMRC office immediately to do so and they will send you a return to complete.
As to how much tax you have to pay, that depends. The HMRC will only tax you on your profit so ensure you declare all your expenses on your return.
The tax threshold for the current year (April 06-April 07) is £5,035 so if your profit for the year exceeds this amount you will start paying tax.
As someone else pointed out, you also have to register for National Insurance contributions. The type for self employed people is called class 2 and is a flat rate of just over £2 per week. You will therefore have to pay NI from the date you started trading. You will need a leaflet called a CWF1 for this purpose. |
|
Druantia
|
You need to file a tax return at the end of the year declaring your earnings - freelance and PAYE. The tax office will allocate your allowances against that and let you know what tax to pay (assuming you file before 31st Sept). Don't forget to offset your taxable expenses against that. |
|
Michael H
 |
Yes, by now you should have registered to pay NI contributions. Its illigal to not do so within 3 months of earning money.
You are likely to be over the threshold to pay tax |
|
mark
|
Yes you do. Unless you want to go to Jail (or get a tax bill) |
|
Steph007ess
 |
As with the above you should inform the Revenue that you are self-employed but do check the threshold on paying tax - I think it is about 7000 Pounds per year - anything less is not taxed. I personally wouldn't bother as you say, it is a temporary situation. |
|
tradcobdriver
|
You certainly do. All earnings are taxed in UK. The revenue will tell you whether you need to pay tax when you fill in your tax return. By law you must tell both National Insurance and Tax office that you are self employed. If you don't, you risk prison. look at ken dodd and lester piggott. |
|
Conspicuously Inconspicuous
 |
I'm not sure if you live in the UK.
I work in the Inland Revenue tax office for the Leicester & Northants area. I see many Tax Returns come in as Freelance Architects, Freelance Designer etc.
They are charged tax on what they earn. |
|
ASHLEY
|
Two things in life are certain, death and taxes.
UK
You will have an allowance of about £4800 per year, anything above that is taxable.
Remember that you can claim for travel costs and other expenses which will bring your bill down. |
|
Lisa P
 |
Yes you'll have to pay taxes on all earnings above $600 in the US. |
|
mrdanlondon
|
It depends on when the period was when you earned the £5k. If it is from 06/05/06 this year and you earn a further £1k then yes, you will have to pay some tax as you are over the £5,035 threshold for earnings that are not taxed. |
|
ELIZABETH
|
Yes, you definately do need to pay taxes. The people that pay you have to keep records as to whom they paid and in what amount. They report this on their tax returns. You will need to pay Federal Income taxes and also the Social Security and Medicare Taxes. I would go to a professional tax preparer. I suggest Jackson Hewitt as they offer a Gold Guarantee that is well worth the money.
People who don't pay taxes cheat themselves in the end. If you don't pay taxes and it comes time to recieve Social Security you will not be able to get it if you have not paid in to it. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
12 | 17 minutes(s) ago
| | | |
12 | 35 minutes(s) ago
| | | |
12 | 49 minutes(s) ago
| | | |
12 | 1 hour(s) ago
| | | |
12 | 4 hour(s) ago
| | | |
12 | 7 hour(s) ago
| | | |
12 | 1 day(s) ago
| | | |
12 | 5 day(s) ago
| | | |
14 | 2 week(s) ago
| | | |
11 | 2 month(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
