 If I make 600,000 dollars this year how much would it be after taxes? |
Additional Details
i have 3 kids and i am married I am a doctor I have a yacht and i live in ... |
|
 My income was $9000 from a pension but not social security, why do I not get a stimulus payment? |
| This is a retirement pension but I do not qualify for social security for another year. This income was taxed. Why is it treated differently than social security?... |
|
 My daughter did not receive a stimulus check? |
| She filed a tax return last year, made the required amount, and was sent a notice that she would receive something. She had her tax refund for 2007 come to her direct deposit account. However, she ... |
|
 IRS Audit?? Oweing them $7000, please help!? |
| I went to a local IRS tax shop and the lady stated I could claim both my little cousins since I am taking care of them 100% for over a year and I have looked on the irs.gov website and it does states ... |
|
 I can't remember if I filed my 2005 taxes!? |
| I just found my w-2's from 2005, and I still have all of them. I don't owe any taxes, but I would be entitled to a return. Is there any way that I can check back to see if I did infact ... |
|
 Did my tax estimation online and it says I "owe" federal taxes of $1,405. Will I still get my refund? |
| confusion. did my tax estimation with taxact, turbotax and h&r block. they say the same thing but when I called the department of treasury (need there # again), they said I don't have any ... |
|
 Will i still get earned income credit if i file sepratly i didnt get married untill? |
| august. i have 5 kids of my own before the marriage and only made 5,000. He cashed out a 100,000 in bonds to buy his house not in my name?... |
|
 I'm a staff accountant that is think of being a tax preparerer as a second job. Is it worth it? |
| I'm looking to work with H&R Block next tax season. Is the time/pay worth it as a second income???... |
|
 N e one with 00-05 got paper check rebates yet? |
i am 05 and i was wondering if anyone got a paper check yet? i know they were going to be mailed out on friday the 16th but just wondering if any early birds got it! thanks1
Additional Details
|
|
 Do i have to file an extension , if i am positive i am getting a refund? |
| Due to the fact i am just starting to repay a defaulted student loan, i have to make good faith payments in order for the IRS not to hand over my refund check to the lending institution, like they ... |
|
 Bush Rebate Check? |
| I'm 18 years old and still a full-time student (I'm a senior); my mom claimed me on her taxes since this is the last year she would be able to. There was an issue on wether she was able to ... |
|
 Can I receive more than one W2 form? |
| I used to work in LA before i moved to florida(same year). Should I contact my company in LA for my W2 form form or will just recieve my W2 form from florida company.... |
|
| If you owe money to the IRS and declare bankruptcy, what then? |
| What happens if you owe money to the IRS (backed taxes, for example) and declare bankruptcy? Will they still come after you and hunt you down? Will they hold on to that money like a starved Chihuahua ... |
|
 I have never filed taxes before, so what would happen if I just up and filed this year? |
| I am 30 yrs. old and have worked all of my adult life, but never filed. Should I leave it alone and never file? What would happen if I did? How much trouble am I in?... |
|
 Can i file taxes this year if i only ---? |
| Worked 3 days at rite aid. I did fill out a form which would give me about 1,700 dollars through out the year in each check. Which i only recieved one check for the 3 days which had the additional 40 ... |
|
|  |
azyldcatz | Does the IRS refund a buisness any money if they report a loss for the year? |
|
 |
 
bostonianinmo
|
Only if you paid in estimated taxes greater than your final tax liability. If you have not paid in excess tax, you won't get any refund simply because your business lost money.
If your business is one that passes directly to your personal tax return, such as a single or multi member LLC, Sole Proprietorship, Partnership or S-Corp, the losses will offset your other income and will reduce your total tax liability. |
|
Homer J. Simpson
|
I want to add one more thing to Bostonian's answer- the only competent one so far.
if you have negative taxable income after netting everything, a carryback or carryforward may apply. These provisions let you retroactively/prospectively apply some/all of the loss against taxable income in past/future years. |
|
Steveo
|
Let's look at it this way. Go to the tax tables. Do you see any columns that have negative numbers? Of course not. The best scenario is that you might not owe any money but not that you would get money back for a tax or a business loss. |
|
Judy1
 |
If your business has a net loss but you have other income also, the business loss will decrease the tax you'd pay on the other income. But no, if you just have a net loss, the government isn't going to pay you for that. The only way you'd get a refund is if you made estimated payments throiugh the year - then if you ended the year with a net loss so owed no tax, you'd get your estimated payments back. |
|
wartz
|
If you have a net operating loss, you can use it to reduce taxes paid in a prior or subsequent year with a carry back or carry forward |
|
Michael K
 |
This depends. If you have a business as self employed, and you also have a job, you usually can deduct up to $3000 of "lose" against your job income. If you don't have another job, therefore you have a total loss, you will just be able to generate a "loss carry forward". This means that if you make money next year, you'll be able subtract out of your income the loss from prior years. There are limits to all of this. I use Turbo tax for both my personal and business and it does all the work for you, so you don't have to be an expert. |
|
robert w
|
no thanks for the giggles. |
|
Batman
 |
the loss is subtratced form the taxes that you would owe. so, jack up that loss amount of the refund. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
8 | 32 minutes(s) ago
| | | |
7 | 54 minutes(s) ago
| | | |
8 | 2 hour(s) ago
| | | |
8 | 7 hour(s) ago
| | | |
8 | 9 hour(s) ago
| | | |
7 | 11 hour(s) ago
| | | |
8 | 1 day(s) ago
| | | |
8 | 6 day(s) ago
| | | |
8 | 1 week(s) ago
| | | |
9 | 3 week(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
