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 Can I claim my boyfriends two kids since I live with them?
I worked 6 months in the begginning of the year and helped to pay for their rent, food, and clothing? I am not working now but i am not sure if that will make a difference. My boyfriend cant claim ...


 What happens when you can't pay taxes due the IRS?
Ok, so I'm going to owe the IRS a few grand this year. I have a couple of grand in savings but that's it. Can I make payments? Do I have to wipe out my savings? Should I prepare to go to ...


 Can my mother claim me as a tax exemption?
I already filed my taxes and claimed myself buy my mother got mad at me and said she could claim me as a tax exemption and she would get way more money back than I would.
I lived with her until ...


 How much holiday I am entitled too from the place that I work?
The Holiday Year Starts January 1st, and end's on December the 31st. I have so far been working since last may (2006), and as the holiday year is from jan-dec, i take it, any holiday built up ...


 How are you folks gonna spend you tax returns on yourself this year?
i have to get more music equpiment , it's never enough.
Additional Details
you = your, and I know, I spelled equipment wrong....


 How come I got $900 when I filed jointly with two quailifing kids. It should be $1800 right.?
on my 1040 line 46 it has 0....


 List three reasons why it is a benefit to you to file an Income tax return?
...


 Given the chance should I ask to be paid in Pounds or Euro?
I am a British taxpayer, currently living in Ireland, I have not worked while I've been here and will be working for an Irish company in the UK. Should I register in Ireland for tax or continue ...


 How do i obtain my sons social security #?
his mom stole the card and won't return it and i can't file taxes without ...


 UPDATE! UPDATE! IRS Refund delay, Reference 1121?
After countless hours online alot of research I hope this information will help some of the 1/26 filers who are still waiting for their refunds. Those of us with the 1121 code "Delay in P...


 Has anyone in the 21-75 gotten a paper check yet?
If so when mine says to be sent out on the 30th. Just wondering Thank You!!...


 Can This happen?
I had just gotten employed at this business and I'm a college student. However, I am concerned if they will take taxes out of my check, being that its the end of the year, I was told that they ...


 Why pay taxes ?
Why is it we pay income taxes to a government that refuses to uphold the constitution?

With clear abuse of the 1st, 2nt, 4th, 5th, 6th, 7th, 8th, 9th, 10th, 13th, 15th, 16th amendments in ...


 What is 6% sales tax on $22.25?
...


 My car is running out of tax this month. will the wardens give me a month's tolerance?
...


 Can i get unemployment check while working?
I started my new job this week, but i will not get payed 2 weeks from now. I want to take one last check from unemployment because if i stop it then i wont have any money till i get a check from my ...


 Tax Rebate Check - May 9th???? HELP!?
I may be being a little hasty but after speaking with several people I've noticed all that were supposed to be receiving their rebates tomorrow have gotten them already at the beginning of the ...


 I sold my house for less that what I paid. I owned it less than 2 years. Can I claim a loss on my taxes?
I know that if you sell your home within 2 years and make a profit, the government requires that you report it as income. But since I lost money, and sold it within 2 years, can I claim it as a loss?...


 Shorted on IRS stimulus refund, what can I do?
My wife and I filed our income tax electronically and were supposed to recieve our stimulus refund by the 18th of May.
We filed jointly and have a 22 year old daughter in college
listed as ...


 Can somebody show me a law that requires me to pay an income tax?
1) The 16th was not ratified
2) 26 U.S.C. § 1 does not ever mention tax on a person's labor.
3) The definition of Income from a 1040 booklet is Foreign source income.
http://www....



monster mash
How do i............?
avoid paying tax on a house i wish to sell. I own a property on top of the one i live in and i wish to sell it but i know i will have to pay tax on it. how do i get out of this. I have been letting the property for the last five years. Thanks
Additional Details
i'm in the UK
                     
 




Jacqi G
Rating
Depending on where you live there are several ways you can do it.

-Trade the properties in a 1031 exchange. Check the IRS website for rules.

-Create an LLC and gift shares of the property to your children in $10,000 increments annually. It's like a trust but you can move the money more easily.

-Create a corporation of the real estate assets and operate the assets as a business that employes you and your children. This is the best one, but you'll need an attourney that understand corporate tax shelters and probably a good accountant. But this way you can avoid the tax and still access your money.

Give their property to a charitable remainder trust. You avoid the tax but you don't get any money.


starlet108
There isnt any way out that I can see - the government have got you on this one xxx


cigaro19
To the person who posted above me did you not look at the catagory the question was in?


ben1993
Rating
u cant


ianhnewcastle
Rating
Let it out - but an advertisement in your local paper

The only other way is giving it to some one i.e. niece


Onestep downfrom God
Rating
That's why dbharrold is a mortgage broker.

Much more info required.
Was the flat ever your SMR? If so you can claim exemption for the last three years, notwithstanding the letting and also claim exemption for the first £40K gains.
Full history and values required for a decent answer.


TS100N
speak to a good financial advisor


whatevit
Rating
The property you live in, if it has an outstanding mortgage that is more than the profit of the property sold, you can pay down the principal equal to the profit. This way the profit that tax is due on is "0",. This will cause the tax write off for the property you live in to drop and the pay off of the mortgage to occur much sooner than normal. At lease, legally you would avoid paying tax and have time to make more serious decisions.

Hope this answer works in th UK, It does in the USA.


pasado manana tu madre
you dont


dbharrold
If you are in the uk you are taxed at 40% only on the profit that you make.The current threshold for capital gains is around £9000. If you want to avoid it altogether make it your 'main residence' for a few months by getting bank statement and utility bills sent there in your name. Then sell it as your main res and voila you wont have to pay nice Mr Brown a penny.


q6656303
depends on the country


mexican baby
Rating
get a job gurl!!


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