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 I just got a $5000 bonus, but only got about $2700 after Taxes; are we paying too much in taxes?

Additional Details
Thanks everyone for educating me on the fact that bonuses are taxed at a higher rate. I didn't know that. :)...


 We made $175,000 this year. Will we get any rebate at all?
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 Can my wife's boyfriend claim her and my 4 children on his return?
We are separated for 21 months. My wife lives with her boyfriend and my kids.
Additional Details
She does not have income except my son's SSI disability....


 What percentage of my salary is emergancy tax?
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 When do I need to pay taxes quarterly?
I am working part-time and getting paid with a check, but he is not taking out the taxes. So it will be my responsibility to pay them. But at what point do I need to start paying on a quarterly ...


 Do you have to pay taxes on the previous years refund?
My boyfriend was recently told he had to pay taxes on last years return. Is this true?...


 Should i be paying tax?
student nurse getting emergency taxed
Additional Details
i get a 498 quid bursery a month, i work 2 jobs part time, the first job i only work 12hrs a month on and i pay no tax on it, ...


 How bad is to skip filling taxes for more than 3 years?
Here is my problem I didn't file taxes in 02, 03, 04, 06 and 07, and the IRS just send me a letter that I need to pay for 06 and 07 close to 6000 dollars, if not they will go to my employer and ...


 If someone owes back child support would the other parent recieve the stimulant check?
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 Will i get caught if on my taxes i lied and said that i paid more federal tax than i did?
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 Which state in the US have the lowest income tax?
Which state in the US have the lowest income tax, or is it all for the same rate?...


 Divorced Couple, Unsure Who Should Claim Child?
I have a friend who is trying to figure out who should claim their child. This is the first year they are filing separately and the divorce decree has nothing in it about who gets to file. Here is ...


 What do we do about an employer that doesn't take out deductions?
my hubby has a new job,great pay,but we didn't know that STRAIGHT PAY ment there would be No deductions taken out. no taxes,no ss, nothing.he also gets no overtime pay,no sick pay, no holiday ...


 What is love?
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 I file married,jointly. Daughter 20, lives home,full time student.Can I claim her deduct contrib on my schd A?
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 How do i know that me and my family will be better off on family tax credits?
The about of benefits we have coming in is alot, as both my children are disabled. My husband had a nervous break down and was on sick for along time. He would like to get back to work, with a job ...


 If you don't work the whole year of 2006, do you need to file any tax papers?
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 Can i earn i cror rupees ? how can i work?
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 Can i e-file returns with turbotax?

Additional Details
how do you do it?...


 Can somone explain to me how a tax rebate is supposed to boost the US economy ?
I have been hearing this for awhile now, but I don't understand how this is going to work. Thanks....



Andrew B
How much money can I make on the side and not claim it on my taxes
I live in Massachusetts and I was wondering how much money I can make on the side without having to claim it on my taxes?
                     
 




jenius
Rating
Lots just don't get caught.


bostonianinmo
Rating
Assuming that you already have some taxable income, 49ΒΆ. Anything more than that is rounded up to $1 and must be reported.


Rick B
none.


jo614
Rating
None. All income is taxable and the IRS does not care if it comes from legal or illegal sources.


bbqnaoplox111
Rating
None unless you do it under the table(illegally)


Wayne Z
Bostonian stole my answer....

As everything is rounded on the return, you can make up to 49 cents and not report it. Once you make 50 cents, it rounds up to $1 and, by the letter of the law, must be reported on the return.


Judy1
Rating
zero.


travelguruette
Rating
none


Jss
Rating
Read about self employed (or independent contractor) tax filing http://taxipay.blogspot.com/2008/04/tax-filing-by-self-employed-sole.html


rayne
If you make under $600 from one source you do not have to claim it. The reason is the employers is not required to issue a 1099 unless it is over 600.


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