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 If I flip a house in 3 monthes how much IRS tax do I have to pay?
Any suggestions or ideas? I want to get rid of it in 3 monthes.
I am in CA

THANKS...


 Is the stimulus rebate check real. I didn't receive it as promised?
Last digets "11" NO problems with federal refund it was deposited into my checking account. We filed before April 14th. Married with 3 qualifing children....


 High school student Non custodial parent claims me as dependent.Will I get a refund?
I am a 17 yr.old high school Junior. I live with my mother(cp) ,stepfather and four siblings. My father(ncp) claims me and one sister on his tax returns. He got this in the divorce settlement . He ...


 If I reside in one state and work in another, which state takes taxes out of my paycheck?
My employer is moving to Wisconsin. I will be moving also, but have the option of living in either Minnesota or Wisconsin. Knowing which state takes my taxes will influence my decision....


 My Mom had someone file our taxes. He was a foney, We owe the IRS $1, 000, Should he pay?
According to the IRS we can't sue him, although his name is on the papers,
Is there anyway we can get our money from him?...


 Selling on Ebay, second income, do I have to pay tax?
I am selling stuff on e-bay that I buy from America & make a profit on. At the moment I am making about £300 a week profit. I already have a full time job but I want to know if I have to ...


 I work in a hotel, I am able to buy meals at half price, but I'm charged tax on the full amount of the meal. ?
If the waiter does not collect the tax on the full price of meal he is charged the difference on his pay-check! Is it legal to charge tax on the full amount,When only half the amount is charged?...


 Hate turbo tax?
Did they totally rip you off on your stimulus check?
Additional Details
Maybe they didn't rip us off, but they sure made NO effort to remedy the situatuion or let us know. E...


 Does anyone know if the earned income credit affects how much you economic stimulus rebate payment will be?
...


 Can the Tax credit people do this?
I've just got a letter saying I owe them £1,460.00 of overpaid tax credits even though i've always supplied the 9nfo they need and they paid it to me. They said they haven't recieved ...


 Do I need to report an income of $219 on taxes?
I had a job for about 2 weeks earlier this year. I made $219 at that job alone. Do I need to report this income on taxes?

I live in California. My filing status was Single, 1. I did earn ...


 My neighbour has a widow's pension?
and no other income. She has now become ill and needs to claim sickness benefit until she recovers. She has a slipped disc and needs to be flat on her back for about 6 weeks. Will her widow's ...


 What happens if a person claims someone on their taxes that they aren't the legal guardian for?
...


 How much and when are we suppose to get a tax refund? how does it work? Is it per household or what?
...


 Can I collect unemployment from California if I'm moving out of state?
My husband and I recently purchased a property in Texas and therefore have decided to move there permanently. But neither one of us has a job out there. So is there any chance that either on of us ...


 Was to get my direct deposit on 1/25 from IRS,?
checked and was sent, bank hasn't posted, anyone else going through the same thing. How long does it take to post to the bank. I used the emerald card I had from last year which in effect is a ...


 How can I change my exemptions on my w4?
I just found out that my work hasnt been taking out ANY federal taxes of my paychecks and I owe $500! I have tried to send in a new form numerous times and it never changed! Please ...


 Where or how can I do my income tax with only my last year check stub?
...


 I deposited a check from a 401k that I was changing and they took out taxes. Will I get penalized?
I deposited a check from a 401k that I was changing and they took out taxes. Will I get penalized for receiving the check and then depositing it into another 401k account even though they already ...


 Council Tax?
As a mature student will I have to pay council tax? I'm renting with my partner who works full time and this september I start my Nursing Training as uni. But I've heard that as a student I ...



mahchubbe
Does the Obama and Biden Tax breaks come into effect right away for 2008 taxes?
I was wondering if President Obama's tax breaks will come into effect for those filing 2008 Tax Returns.

Thank you.
                     
 




Johnny Sachs
I heard about the extra $500 exemption or deduction for single people and $1000 for married people as part of his plan for relief but it is not in effect yet and has to be approved. Given the speed to which Obama is working to implement all the things he promised in his first couple days I would think he would try to push this thru fast so we can take advantage on our 2008 returns. Just like last year with the rebate checks things were passed right around tax time. So me personally I'm going to wait to do my taxes atleast until next month sometime to see if they put that into effect so I can take advantage when I do my taxes.


wartz
What Obama and Biden Tax breaks? There are none so far.


Angela W
Rating
No tax breaks have been passed as of yet.


donna
You know of some new tax breaks that you qualify for? What are they? Maybe you are thinking of tax breaks already in place? Explain more about what ones you are asking about and we can help more. Obama just became president yesterday, and he's been partying since, so I don't think he's had a chance to even try to pass any new tax laws yet.


travelguruette
No. Anything that they might want to do has to pass Congress first. They cannot just implement anything. It would be 2009 taxes.


Kyle
just because he said he wants to give tax breaks to certain people doesnt mean it happens the second he takes office, nor does it mean that they are definitly going to happen ever.


OFFICER SEXY PEACH
Rating
i'm not sure when it'll take effect,i'm wondering that also.

i read the article about it on the front page of yahoo.com and saw it on cnn headline news also.


shiprepairwoman
The most he had said is he won't cancel some of the Bush tax breaks. I haven't heard of him proposing let alone passing any of his own yet but he has only been president one day. Give him a chance he might not turn out as bad as many people feared.


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