 Are daycare expenses deductable from federal taxes? |
| I was wondering if you can deduct amounts paid to a daycare from your gross income when doing your federal income taxes. Also, if yes, do you have to itemize in order to claim that deduction or can ... |
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 If I have no Income for 08 and im married with a child..? |
Do I still get a tax refund??? Well technically my wife and I get SSI
but not enough to claim any of it... We get about $805.00 a month...
We have a 6 month old....Are we screwed??... |
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 I'm 17, work, want to claim taxes. Can my mom still claim me? |
I've been working a lot and think I deserve my taxes, but my mom says she can't claim me if I do and won't allow me to do it. I don't think it's fair.
Can she '... |
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 Is it true that this year they are taking out the stimulus from last year? |
| I heard that the stimulus they gave last year is being taken out this year with the new taxes?... |
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 When do our tax 'stubs' come from our employment to our house, so that we can file our taxes? |
I have been looking in the mail lately to try and see when my work is sending out our tax-stubs, so that I can file...
Does anybody know of when companies start to do this?... |
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 If a job pays 16000 per annum how much will that be a month after tax? |
| a new job states 16000-18000 annually just curious as to the monthly pay after tax,and if its worth it as i'm a single mum.... |
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 I'm being paid by check but not through payroll...? |
| Can I still file taxes( I have a 6 month old daughter so I would like to get some money back at the end of the year....If so how....Is this even illegal?(I don't know why they won't pay me ... |
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 Earned income credit? |
| is it true that as long as im a child support paying parent iam entitled to claim this credit every other ... |
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 Ia m getting ready to file taxes, can I write off my bedroom set? |
Additional Details
Thanks guys, I just did not know so I did ask, and no its not for business :)... |
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 Do you have to file tax reports if you're in jail? |
Even if you have no physical access to income
Additional Details
How do ya'll know so many - and different - answers?
BTS what happens if you don't file it, do you ... |
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 I've been claiming 0 on my W-4 for the last few years and continue to owe on my taxes, any suggestions? |
| I am married, we do not own a home and try to deduct as much as we are able to. It's very frustrating, because usually when we do just my husband's taxes we get a refund, add my into the ... |
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 TAXES: Why was form rejected for listing daughter as dependent? |
| She is 18 and dependent on us. Husband in Iraq, filed taxes as married filing seperately (divorce in process), says he did not claim her as a dependent. Her taxes were accepted (marked that she was ... |
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 Do I count as Unemployed or Self-Employed? |
| I'm a writer. I hardly make any money yet but I'm keeping at it. I live with my dad at age 21 and dropped out of college. I have no other paid job. I'm not actively looking for ... |
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pokerstar | Does your tax rate decrease when you get to a certain age? |
For example, if you make $50K and you are 75 years old, do you pay less in taxes than if you made $50K and you were 25 years old? |
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ninasgramma
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Actually, you are correct in that the older person may pay less tax.
Persons age 65 or older receive an additional standard deduction, which reduces their taxes owed, but not by much.
An unmarried taxpayer age 65 or older receives an additional $1,250 standard deduction. A married taxpayer age 65 or older receives an additional $1,000 standard deduction.
The older taxpayer may pay quite a bit less tax if his income is from pensions or social security benefits. No SS or Medicare tax is paid on these amounts. Social Security benefits are between 15% - 100% tax free as well. |
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Judy1
 |
The tax rate doesn't change, but you might pay very slightly less. If you are 65 or older, and take a standard deduction, you get a slightly higher amount. It might save you a few hundred dollars in taxes. If you itemize, then there is no difference depending on age. |
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bostonianinmo
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You will pay slightly less as you will get an extra standard deduction amount once you are over 65. The savings isn't very much, however, and will only apply if you take the standard deduction. |
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Tomk
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The tax rate doesn't change, but you get an added duduction amount if you're 65 or older. Also, your social security payments are factored into your total income so that you might not have to pay any tax at all on the social security part of your income, depending on your total income for the year from all sources.
But the tax rate doesn't change. You just get a few added benefits. (Wouldn't it be great if you paid NO tax on social security payments?) |
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Ravin
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no
income is income. its about deductions be it children, spouses, homes, etc.
All those things effect your tax bracket (rate at which you are taxed) |
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acurodd
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wishful thinking |
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SCOTT P
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It's all about the yearly income. The IRS really doesn't care how old you are. |
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Marc G
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No, age has nothing to do with taxes. |
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