 What penalty do you think Wesley Snipes should face? |
| He is accused of a $12 million tax fraud and failing to file several years returns. Should the courts really send a message to other high profile tax protesters by sending him away for 15 years. Or ... |
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 Where do I stand with the IRS? |
| While looking through past divorce records, I found that on his 2003 and 2004 tax forms, my exhusband claimed that he paid me alimony for those years. I never received any alimony and was never ... |
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 I LUV FRANCE!!!!!!!!!!!!!!!!!!!... he he he? |
| does anybody luv tat place! i do i do! even tough i have never been there i still luv it!!!!!!!!!... |
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 Tax?Its a boring subject! But we Brits get so ripped off!? |
| Income tax,National insurance,Council tax, Inheritence tax,Capital gains tax,Tax on savings,Tax on cigarettes, Tax on food, Tax on Fuel,Vat, Duty and so we continue to get hit with stealth taxes, W... |
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 Is it better to itemize or use standard deductions? |
| My itemized deductions are almost 3x greater than my standard deduction. Go with itemized?... |
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 Can I claim my 18 year old son as a deduction on my taxes this year? |
| He graduated high school in June and has been in community college since September. Thanks.... |
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 Council Tax (am I entitled to get it back)? |
| My father invested in a second property and asked me if I would like to live in it rent free until he decided what to do with it, I ended up living there for 4 years. For all of the 4 years I lived ... |
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 What percent of my check can be taken if garnisheed? |
| I thought it was 30 % but my boss says that would be overly cruel.... |
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 Is it too late to do TAXES? |
| Its the 15th, and its a sunday. Is it too late? Can i do it tomorrow?... |
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 My father died after 5 years in nursing home. He owes on a re-possessed car and to the IRS for unpaid taxes? |
My mother died five years earlier.
He became Medicaid eligible after about 1 year in the nursing home, lived about 4 more years.... |
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 If info from a 1099 was not turned into the irs, what could happen? |
| My friend did his taxes on a website twice once claiming the info from the 1099, once without claiming it! He found out he would get more money back by not claiming it! What could happen if the irs ... |
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 If you split the cost of a house with someone, what document determines who takes the property tax deduction? |
| In other words, who of the two owners are allowed the tax deduction for property tax and mortgage interest if the title and mortgage papers have only one owner's name on it?... |
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 What is the best excuse to use for avoiding hefty interest charge from inland revenue for late tax payment.? |
| I am due to pay a few grand by end of january but won't be able to pay until end of march. Will they give me an extention?... |
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 $100,000 and pay 36,000 of that in income tax? |
The first year i work I will pay 36% in tax, plus student loans, so more of my money goes to the government than myself???
Am I thinking about this correctly?
Additional Details
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 Is PAN necessary for cheque deposit? |
| Is it necessary to mention PAN number to deposit a 10lakhs cheque in India?... |
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 Can anyone offer advice on making taxes less painful when you don't own a home or have kids? |
| I'm hoping that someone out there can give me some advise on how to relieve my tax burden or at least direct me somewhere that I can find information. The situation is that my husband and I ... |
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jackie r | How do i stand when renting out flats and paying tax on the income.....? |
the 2 flats are mortgage free and they are ready to rent but i've been told i have pay tax on this, this cant be true. is there anyway i can get out of paying them tax? |
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steffi
|
Why shouldn't tax be payable on rental income? You should register with your tax office for an annual Tax Return. If you don't, be sure you will be found out, then have to pay back tax, interest, and financial penalties. In addition to your income, your property will appreciate in value over the long term (then you may get hit by Capital Gains Tax if you ever want to sell).
To the answerer who complained about paying tax when having a mortgage. You get tax relief on the mortgage interest, but not on capital repayments. Again, your property is increasing in value. Do you really think other taxpayers should pay extra tax to cover that?
The Government aims to get so much revenue from income tax. When someone thinks they are being clever in bearing the system, it means honest taxpayers have to pay extra. |
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john h
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Ignore what Leah M said it is her who is being greedy wanting income and not paying tax on it, you will have to pay tax on the rental income less essential expenditure for the flats |
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dels replies
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Why should you? Its income to you, why should you not pay tax as anyone else |
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D B
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Of course you do. Contact your tax office and ask for the relevant information to be sent to you. When my husband first moved in with me he rented his own flat out and we had to fill in a tax return form each year. You can offset some items against the tax but you would be best to contact your tax office as I said. |
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tringyokel
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Income tax is a tax on income.
Rents are a form of income.
So income tax is due on rents.
Actually that last bit is not quite right but it sounded good. You only pay tax on the rental profit so make sure you keep records of all expenses related to the lettings. |
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Bo P
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of course you have to pay tax on the rent, IT IS INCOME, sheesh, im amazed you paid them off without knowing anything about property pr taxes. |
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Princess Paradox
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Be warned, if you make money from renting flats then you are going to get absolutely shafted by the tax man. I rented out a few rooms on my house and had to pay some stupid amount of money for tax even though I was only getting the money to help me pay the mortgage but those theiving bunch of bastards don't care about that. |
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alphameega
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If your earning from them you have to register as a company and resgister for tax - Its the law. Avoidance will land you in a hell of a lot of bother. Cheat on God. Cheat on your Wife. Never oh never cheat on the Taxman !! |
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