 What percentage of work related expenses will I get back from taxes? |
| I pay for my own gas and travel expenses for work. I also had to buy tools and a GPS. What percentage of that will I get back when I file my taxes?... |
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 If I make 600,000 dollars this year how much would it be after taxes? |
Additional Details
i have 3 kids and i am married I am a doctor I have a yacht and i live in ... |
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 My income was $9000 from a pension but not social security, why do I not get a stimulus payment? |
| This is a retirement pension but I do not qualify for social security for another year. This income was taxed. Why is it treated differently than social security?... |
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 My daughter did not receive a stimulus check? |
| She filed a tax return last year, made the required amount, and was sent a notice that she would receive something. She had her tax refund for 2007 come to her direct deposit account. However, she ... |
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 IRS Audit?? Oweing them $7000, please help!? |
| I went to a local IRS tax shop and the lady stated I could claim both my little cousins since I am taking care of them 100% for over a year and I have looked on the irs.gov website and it does states ... |
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 I can't remember if I filed my 2005 taxes!? |
| I just found my w-2's from 2005, and I still have all of them. I don't owe any taxes, but I would be entitled to a return. Is there any way that I can check back to see if I did infact ... |
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 Did my tax estimation online and it says I "owe" federal taxes of $1,405. Will I still get my refund? |
| confusion. did my tax estimation with taxact, turbotax and h&r block. they say the same thing but when I called the department of treasury (need there # again), they said I don't have any ... |
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 Will i still get earned income credit if i file sepratly i didnt get married untill? |
| august. i have 5 kids of my own before the marriage and only made 5,000. He cashed out a 100,000 in bonds to buy his house not in my name?... |
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 I'm a staff accountant that is think of being a tax preparerer as a second job. Is it worth it? |
| I'm looking to work with H&R Block next tax season. Is the time/pay worth it as a second income???... |
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 N e one with 00-05 got paper check rebates yet? |
i am 05 and i was wondering if anyone got a paper check yet? i know they were going to be mailed out on friday the 16th but just wondering if any early birds got it! thanks1
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 Do i have to file an extension , if i am positive i am getting a refund? |
| Due to the fact i am just starting to repay a defaulted student loan, i have to make good faith payments in order for the IRS not to hand over my refund check to the lending institution, like they ... |
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 Bush Rebate Check? |
| I'm 18 years old and still a full-time student (I'm a senior); my mom claimed me on her taxes since this is the last year she would be able to. There was an issue on wether she was able to ... |
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 Can I receive more than one W2 form? |
| I used to work in LA before i moved to florida(same year). Should I contact my company in LA for my W2 form form or will just recieve my W2 form from florida company.... |
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| If you owe money to the IRS and declare bankruptcy, what then? |
| What happens if you owe money to the IRS (backed taxes, for example) and declare bankruptcy? Will they still come after you and hunt you down? Will they hold on to that money like a starved Chihuahua ... |
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 I have never filed taxes before, so what would happen if I just up and filed this year? |
| I am 30 yrs. old and have worked all of my adult life, but never filed. Should I leave it alone and never file? What would happen if I did? How much trouble am I in?... |
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 Can i file taxes this year if i only ---? |
| Worked 3 days at rite aid. I did fill out a form which would give me about 1,700 dollars through out the year in each check. Which i only recieved one check for the 3 days which had the additional 40 ... |
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firebird | How much income tax do you have to pay on winning $10,000? |
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PrissyPanda
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The IRS requires that 20% of your winnings be withheld at the time they are paid. Depending on your tax bracket when filing your personal return, you may owe more or less than the 20%. |
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Bud Ugly
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It will be taxed as any other income, so your marginal tax rate will dictate the amount of tax. |
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Wayne Z
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Not enough info.....
It depends on what tax bracket your other income puts you in.
A safe bet would be $2500 + state tax if applicable. |
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acmeraven
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It is included on the other income line and taxed as regular income at whatever bracket you are in. Don't forget that if you itemize on Sch A you can put down your gambling losses up to the amount of your winnings. |
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William
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Depending on your definition of winning and your tax situation. If it's a gambling win, you can offset your losses against it during the same time. If it's a prize - lotto or something it is all taxable as ordinary income and with state and federal it could be 40%. There are some winning that are not taxable but you didn't supply enough information to determine that. |
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Robin C
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It depends on your tax bracket and the state you live in.
Federal taxes withheld are any where from 25%-40% (depending on your tax bracket) and State taxes are 5%-20%, Even then it might not cover all of the taxes due. Keep in mind that you may receive less than half of the prize money and still owe more taxes at the end of the year.
By the way, this is not special because it is prize money. The more you make as income, the more taxes you pay, not just in dollars but in percentage as well. |
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Juliet
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I agree - it does depend on your tax bracket - if you're in a top bracket you would pay close to $4000. (But hey, $6000 left is nothing to sneeze at.) |
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Spock (rhp)
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there are two cases
case 1: you receive 10k but did nothing to personally enter or qualify for this specific award. Example: the McArthur prize is awarded to deserving thinkers and researchers who are nominated by their peers for work they've already done. Same with Nobel Prize. this type of money is free AND you likely don't have this type
case 2: the 10k is taxed like any other ordinary income you've received. Example: lottery winnings are taxed as ordinary taxable income. See next case to understand why FICA/Medicare tax does NOT attach.
case 2b: some folk can make a case that they are professional gamblers -- in this limited case, their provable losses can be deducted from their winnings and only the net profits are taxable. This would be business income and is subject to both income taxes and FICA/Medicare.
you likely aren't in this class either -- pros know they are gamblers and the tax reasons for having that tax status
clear? |
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