 Stimulus!!!? |
I heard that everyone who has direct deposit, would all be getting there check by Friday, the 2nd.
Is this true?
I'm not sure because last I checked, I was in the middle section. ... |
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 Should I claim "0, 1 or 2" on my W4 form? |
If using the formula that's on the paper I'm supposed to claim "2"- 1 for being single +1 for being the sole provider.
I then heard I should claim 0 which takes more ... |
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 Ok so this is more of a rant on our economy but i would love some of youre input and opinions!!? |
| ome and my hubby have a 1 year old and a two year old i am a professional dog groomer and he is roofer he makes 400 dollars a week which is not cutting it and who can afford to work and put their ... |
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 If I have 2950 i need to add 10% what do i get? |
| I'm working and I haven't worked with percentage in a long ... |
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 Can married people file tax returns as single? |
I got married last year and we both are working. But earlier both of us mentioned as single in our W-4s. So my questions are:
1. Can we file as single now?
2. Will there be any prolblems ... |
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 What is the latest date a company can send out your w-2 form? |
| I'm still waiting for my w-2, and I still haven't gotten it yet. Does anyone know the latest date they send it out? Isn't there some law that they have to send it out by a certain ... |
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 Are we (American tax payers) ONLY getting $600 back (if we are single)...? |
| or is it in addition to what we are SUPPOSED to get? If we are ONLY getting $600 back, why?... |
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 Can a person turn me in to the irs? |
| my x's hates me, can she turn me in to the irs?... |
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 What do I do about filing income taxes this coming year? |
| Me and my husband got married in April of 2006. Before I got marrie dI was filing single with myself as a dependent, and my husband was filing single with no dependents. Netiher of us have changed ... |
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 Can i claim my girlfriends 2 kids? |
| my girlfriend and her 2 children have lived with me for 5 years, this year i tried to claim the kids on my taxes for the EIC credit, the IRS sent me a letter saying no way because they are not blood ... |
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 I just filed unemployment and they are taking 10% out for taxes I want to know is this going to affect my w2? |
Additional Details
I want to know is this going to affect how much I get back at the end of the year. By filling unemployment. And do they take your taxes withheld from your employer to ... |
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 Never done my taxes, now what? |
| I thought it was not important, nobody really explained to me. Apparently it is a big deal and I should have done it before. My father claimed me as a dependent till I was 19, after that I think I ... |
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| Can I claim charitable contributions if I no longer have receipts? |
| I donated a TON of clothing and shoes in 2007 to Goodwill and other charities but I either never got a receipt or have lost them by now. Can I claim those donations on my income tax returns if I don&#... |
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 Do part time students gets taxed ? |
if so how much tax is payable on a salry of 6.07p per hour 20 hours per week ?
thanks in advance..
ps i study thru the open uni
Additional Details
oh yes how much will the tax ... |
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chunkyd | How much cash can I receive from a family member without being taxed by the IRS? |
It's actually a large lone so I can pay off my bills, I will have to pay it back, but how do I put all this money in my acct. without the IRS snooping arould? |
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lizzit
 |
Loans are not gifts.
I assume both you and the borrower are US persons.
The IRS, if they audit either you or the lender, may deem this to be a gift. You should document the loan with a loan note signed by both you and the lender. The note must contain the following:
1) name & address of borrower and lender.
2) amount being lent.
3) payment terms: when is it due, how many payments will be made, amounts of payments, and most importantly the interest rate.
If no interest rate is included with the loan, the IRS will impute a rate, which will be taxable income to the lender whenever you make a payment. You should therefore include a rate of interest indexed to the Federal base rate at the time the loan was made. |
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CPAKeith
 |
Put the LOAN in writing -- as in a promissary note. The document needs to state that you are legally obligated to pay the money back and when payments are due. Sign it and have your family member sign it. If the IRS ever asks where the money came from you can give them a copy of the promissary note and they'll leave you alone. |
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lennox525
 |
For 2006 the exclusion amount is $12,000. You can receive $12,000 from your parents as a gift without gift tax consequences.
If you structure it as a legit loan it may not be characterized as a gift. However, it would have to include the same terms and interest that would exist between unrelated parties. |
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acmeraven
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If it is a loan you have no tax implications. In 2006 you can be gifted up to 12,000 dollars and there is no tax on it. If it is a loan then it is not a gift. You simply deposit the check in your account and pay off your bills. Keep written record of all that you do. |
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Judy1
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Neither you nor the giver has to pay tax on the loan, although if you're paying interest, the person who loans you the money is supposed to pay taxes on the interest.
If it's a gift, then the giver, not the recipient, might have to pay tax if the gift is over $11,000 in a single year. But since it's a loan, no taxes are due. |
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Goose&Tonic
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You can receive up to $11,000 per year as a gift from a family member tax-free.
I would suggest going to the IRS website www.irs.gov or calling them to confirm though. Tax rules change/add daily and it is very difficult to keep up with them all! |
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lepninja
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A loan is not income, it's a liability.
You do not have to pay taxes on a loan. |
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Carol
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I put in $16,000 once from my parents and they never questioned it. This is a loan and being paid back also so don't worry about it IRS can't tax a loan checking accounts don't k now if you got it through a loan office or somewhere else. Unless your putting it in CD's earning income from it that's what they report to IRS. |
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RamsGod
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Barry, quit answering tax questions, your a doof. |
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Barry G
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$5000.00 |
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boyblu19
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$499. You have to report any income/gifts that are more than $500 dollars. |
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