 If a company car is available for personal use are you required to keep receipts of fuel payments? |
| If a car is avail for personal use and you pay for all your private mileage and keep records is this sufficient for tax purposes? Can a company deduct a "certain amount" from an employees ... |
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| I need to know if I can file a tax return even though I have not worked, and I'm a single parent of a child.... |
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 Being audited becuz of stupid ex? |
| Ok me and my ex have not been together for 3 wonderful years. As all of you know its tax season... Well to make a long story short we never married and we didnt have an agreement on who gets to claim.... |
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 What recourse do I have if my employeer did not take out enough tax from my paycheck? |
Is it my fault if my W-4 is correct and they just did not take out enough money?
Additional Details
This means that I owe the government money.... |
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| Is there a website that can track my Income Tax Returns? |
Additional Details
In other words a website that I can put my info into and they will tell me if the check is on the way, or still being processed or what. I know there is one because I ... |
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| My cousin is leaving to Mexico and asked me to keep his $10,000 until he comes back. I know theres a certain amount that if deposited to any account, the bank reports it to the IRS. How can I prove ... |
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 If your a minor, do you not get charged for any taxes? |
I lost a pretty penny to the IRS. Is their certin conditions you have to be under in order to be "dismissed" on taxes?
no mean ... |
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| direct deposited-my refund was direct deposited??? anyone know if this is i this true...... |
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 Tax rebate, how much? |
| Married with 1 child, made maybe 42k total. Are we getting back 1200 for us and 300 for our child?... |
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| We pay a school tax with our electric bill, it gets added to the total bill and then taxed again, is that legal? Isn't that double taxing?... |
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 Has anyone who filed their taxes thru HR Block simple pay option get their taxes back yet? |
| The IRS website said my refund was direct deposited on 1/25/2008, and I have yet to recieve my refund. I understand that it may take a little longer, but I have called HR block and they are no help. ... |
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1099 nightmare | HOW CAN i GET STUCK PAYING THE IRS BECAUSE I AM 1099? |
I MADE GOOD MONEY LAST YEAR BUT WITH RENT, CAR PAYMENTS, CHILD CARE AND RAISING 3 KIDS I BARELY SURVIVED LAST YEAR NOW MY TAX GUY IS SAYING I OWE $9,000 TO IRS HOW IS THAT POSSIBLE???????? |
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JessicaRabbit
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Self employment tax! You are paying 15.3% of your income for SE taxes. |
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n4aof
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Because you didn't pay your taxes.
If you had been employed, your employer would have been required to withhold money from your pay and send it to the IRS to prepay your income tax.
But because you were self-employed, YOU are the one required to pre-pay the tax. If you are lucky, all you need to pay now is the tax; but if the IRS finds that you knew you were making money, you could also be hit for interest and penalties for not having made deposits during the year. |
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lil southern girl
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That's what being 1099'd is. When you are 1099'd by the person or people you do the work for, you are self-employed and 100% responsible for your own taxes. You should have been saving up for them all this time. |
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Cappy
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If you are receiving a 1099, there is no employer to withhold the income and wage taxes that are required by law. Self-employment taxes (social security and medicare, known as FICA taxes) run at 15.3% of income up to $97,500 of wages. Income taxes will depend on your income tax bracket, anywhere from 0%-35% federal. Make sure your preparer is taking any child care credits and earned income tax credits available. |
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Islander
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Are you the only one in the litter that lived? Did it never occur to you that you did not pay income tax, social security or medicare all last year? It's a little late now to be asking what a 1099 means. Or maybe you just thought Uncle Sugar forgot about you last year.... |
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rhubardpi
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what am i missing. your tax guy did not explain to you why you owe? If you thought you were an employee instead of an indepent contractor did you talk to your "Employer" about it? This is not a site full of tax experts, try the IRS or your "tax guy". |
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Louis L
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Not sure but sounds like you make alot of money and have little to write-off. 1099 is self-employed so you have to know what to be able to write off on your Schedule C. You are supposed to set aside money or pay quarterly so you don't get stuck with so much at one time. Take a course at H and R Block and learn to do your own taxes. I did and I owed very little because I learned how to write off things I was legally entitled to. Your accountant doesn't have time to teach all of what you should know but should be able to point you in the right direction. If he or she hasn't then you need a better accountant. Blame yourself first. If you are self-employed you have an obligation to know what you need. I lick my chops when I know I can use the Schedule C. There are so many things to write off. I love it. W-2 folks get screwed as does 1099 illiterates. |
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Judy1
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You owe a lot because you didn't have taxes deducted during the year like people who were employees and got a W-2. Since you didn't pay then, and didn't make quarterly payments like you were required to, you owe it all now.
For income tax, you're paying the same amount as you would have if you were working as an employee with a W-2. But for social security and medicare, you would have had 7.65% withheld from each paycheck - since you had nothing withheld, you owe that now. If you'd been an employee, the employer would have matched what you had withheld for ss and m/care - since you are your own employer, you have to pay the employer half also. |
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asteroid
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I had this same problem. I worked for a telemarketing company and I filled out a
W-2 form. What they didn't tell me was that they dont take out taxes for the first 60 days, which would be the 1099. I talked to H&R block and they told me that it's basically considering you as self-employed. The good thing is you should be able to claim gas to and from the job, food and any supplies. I still don't completely understand why they did this, especially without telling me. |
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