 Lost Tax Return Check, What do I do??? |
I just realized that I have no Idea where I placed my tax return refund checks, who do I talk to to get replacements? Can I even get replacements, or am I just plain screwed???
A pre-emptive ... |
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 Will I get $300 or $600 for my tax rebate? |
Ok, I understand that if you earned $3000 or more, you will get at least $300.
My question is: How do you know if its $300, $600 or something in between?
Assuming no children, ... |
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 Should we have to pay? |
| I'm wondering if my husband and I will have to end up paying taxes this year. We were married in April 2007 and this is the first year we have filed together. Seperately, we usually get a tax ... |
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 Can I sue my Tax person? |
| My wife and I along with her brother and countless others at his job were audited by the IRS last year. After we were audited the tax person was up and gone and now has contacted us again to do ... |
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 What filing status.......? |
| just got married this year 2008 also got 2 step kids found out my wive owes back obligations, but i should get a refund, should i file married filing seperatly or married filing jointly.... thanks<... |
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 Is there an actual law that states that you have to pay income tax? |
| Please let me know if you can show me the law. I just watched "Freedom to Fascism" and was surprised to hear that an income tax law hasn't been presented at request by petition, or in ... |
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 When do we find out if Howard Stern Is the FATHER? |
| (i think this would be a great maury show dont you?)... |
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 Do you agree the rich should pay their fair share of taxes? |
| Charlie Wrangle D, NY proposed a minor tax increase for the rich that have incomes of $200K or more, its a very slight increase. I believe as much money they have the rich can still live a normal ... |
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 I am a displaced worker going to school and getting unemployment if I win the lottery what will happen ? |
My company got shut down due to jobs going outside the U.S so I am getting unemployment benefits and the government is sending me to school via the TAA benefits for displaced workers.
If I win ... |
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 Tax and NI deductions...confused? |
Hi all,
I just received my first pay slip from my new job. I earn a gross salary of £24,000, so this means the tax I should be deducted is 22%, which I was. But the NI deducted was £173.8... |
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 Can my parents claim me? |
| Ok so I found out from an accountant that because I made 19,000 this year that my parents would have had to make over 200,000 to claim me because we have four kids (me plus three younger siblings) so ... |
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 LEGALLY, - If you get married and do not change your name, do you still have to file taxes as "married?" |
| I just got married, and I dont feel like changing my name. Too much paperwork seriously, and I am already established. So is my husband. HE makes a lot of money though, and every year, he owes ... |
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phluttr_bye | First year for my 401k and I wonder do I have to file the amount I have paid into it with my taxes? |
This is the first year I have ever put money into a retirement plan and I was not sure if I am to file the monetary information on my taxes. I have not borrowed against the 401k or transferred any money out of it. Am I supposed to file my 401k retiremnet info on my tax form? I use 1040ez form... Thank you!
Additional Details
I apologize for the misspellings...; ) |
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rooster
 |
The amount you put into your 401K should not be included in your gross earnings on your w-2. The amount you contributed will be reported on your w-2 and depending on your income you may get a credit on the amount you invested. In short the contributions to your 401(k) are not taxable. |
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threegreenballz
 |
if you look at your w-2 in section 12a, you will see your contributions to your 401(k) for the year. As you fill in your tax form, there will be a section to report this. There is no penalty or extra tax to pay because you made the contributions. |
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NubbY
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any contributions to your 401k will be on your W2 if you made them in 2007 (in box12)
yes you will claim them and depending on your income level and amount saved you could be eligible for a savers credit as well |
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B_Stinger
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You don't have to report it as it is not taxable and in fact you can not report it with the 1040EZ.
However, if you file the long form you may be entitled to a tax credit, depending on your income and how much you put into your 401K. Research form 8880 Credit for Qualified Retirement Savings on the IRS web site. |
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joemoser1948
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No. Not only do you not "have to" but you are NOT ABLE TO.
See:
http://www.wwwebtax.com/deductions_z_other/401(k)_contributions.htm |
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COOLJOHN
 |
No, you do not claim or report 401K donations, you pay taxes on that money when you withdraw it upon retirement. |
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bizbetter
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The money in a 401K account is pre-tax earnings that is not taxed until withdrawn. You do not need to worry about it until you retire or if you withdraw early. There may be additional scenerios but those are the main ones. |
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mmpaints
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unless the government has done something new that no one knows about, your answer is NO. 401K contributions are pre-tax and untaxed until withdrawn. Be aware, if you withdraw before retirement, they tax you very very hard. |
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sleepycatz1972
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their info above is outdated. it all depends on what kind of 401K it is.
if it's traditional (as most of them are), then you deduct what's been paid in off your income level, since it is taxed later when you take the money out. you don't pay taxes on it now...it is taken from your paycheck PRE-TAXES.
if it's a Roth 401K, then you still need to pay taxes on it now as it will not be taxed later as you take it out to use. this is a new 401K, available for the first time this last year. check with your employer to see which type they have. the money for this are taken out of your check AFTER-TAXES so that it is counted as part of your income.
note: if your company offers a Roth 401K as an option, i'd suggest most people to take advantage of it. like a Roth IRA, it's better to pay the few taxes now on what is going in, since you won't have to pay taxes on any of it later on, including anything it has grown to. (as example: you put in $1000 this year and pay taxes on just that amount. when you take it out twenty years later and it has grown to $35,000, you don't pay any taxes on any of it. with a traditional 401K, you pay taxes on the entire amount later since none of it got taxed earlier. in the long run a Roth saves you money...i'd rather pay taxes on 1G than 35Gs.) |
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David T
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...clear as mud... |
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