 Can I file my taxes for 2006 this late? |
I was financially supported by my father until mom's death and then I lived off my inheritance for a couple of years (while living in the family home)
I did some babysitting, flea ... |
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 If I receive a late 1099, can I pay it later? |
| I got a 1099, out of the blue, and extremely late from a past employer and have no money to pay taxes on it for the current season- I know I can file for an extension, but have heard that would mean I... |
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 IRS solution??? |
| I have been told by my employer that they are going to start deducting 100% of my paycheck until a $5000 bill is paid. This is termed a "levy". I called one of those tax negotiation ... |
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 If my boss pays me with cash or personal check do they still take out taxes? |
| taxes that were taking out of my check when i worked elsewhere and got a payroll check i was able to file at the begining of the year and get back. the taxes that are being taking out of my pay now i ... |
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 IRS Disputes my 2005 tax return, now what? |
I received a IRS envelope yesterday. (Oh joy!)
And they are disputing my return for 2005.
In the letter, they say I "may" owe them $7,000.
Can someone out ... |
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 Can a married couple file taxes seperatley? |
| My husband got his W2 already, and we were wondering if we have to wait for my w2 to come, or can we file seperatly?... |
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 I have ALL the stimulus rebate answers...I waited about 40 min but talked to IRS? |
| Heres how to figure out. If you are had your tax refund dd to your account and think your stimulus should also be but isnt there. Check where your tax refund was dd from. If it doesnt say IRS or ... |
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 Child tax credit renewal forms.? |
| when are they being sent out? im not phoning them cos last time they messed up and i was overpaid - why do they have thick ppl in those call centres.... |
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 If you did your taxes, did not make enough to pay, but u get a refund, is it ok to still file it in late? |
| There is a $150 refund, but since I only earned $3,000 all year, would I get a penalty if I filed it now? Would I even get my refund money while turning it in this late?... |
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 QUESTION RE POSTED as suggested BY SUZY? |
my pay went from 10/hr to 12/hr. we get paid semi monthly...each check is for 86.67 hrs. i live in wisconsin and i claim 6 on my w4 (i could have claimed 12 according to the worksheet)
i am ... |
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 No stimilus check yet, why am I not surprised!? |
| Here it is 3:15pm and no check in my account! Surprise Surprise. My husband and I filed jointly and have the same last two digits in our SSN and had direct deposit thru turbo tax and yet my back ... |
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 Where is our tax relief money? |
| My husband last two digits of his social is less than 20. We had our tax refund direct deposited. We should have gotten our tax relief by now. Does it go by one spouse or the other? His name is ... |
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Waldo Waldo Waldo! | How much tax return will I get back if I donate my car to charity? |
Someone told me you get $500 in tax return if you donate your car to charity. I live in California so another state could be different. |
 |
 
Judy1
|
First of all, you can only deduct a charitable contribution if you itemize, so if you don’t itemize, there’s no tax benefit to you from the donation.
Charities usually sell donated cars at auction, and they’ll give you a receipt for the car showing how much it sold for – that’s the amount you can deduct. Be aware that cars being auctioned usually sell below what would be fair market value.
The tax benefit from the deduction is at most the amount of the deduction times your tax bracket. So if they sold the car for $3000, and your tax bracket is 15%, your tax savings would at most be $450.
This is for federal taxes, so the rules are the same in every state of the US. |
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ninasgramma
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Charitable donations do not result in payments to you. Charitable donations only reduce your taxable income, and then only if you itemize.
If you are in the 15% tax bracket, you would need to donate a car worth $7,500 and have total itemizations greater than $12,850 in order to reduce your taxes $500. |
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mother love
 |
i got 5,000 last year for my car |
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flossie mae
|
My daughtetr got nothing in Illinois. |
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wartz
|
You can claim a charitable contribution for whatever the charity sells the car for if the value is over $500. If it is under that, you can claim the fair market value.
btw: I am also a Californian. Makes no difference. |
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Gary
 |
Can you itemized your deductions using a Schedule A? A Schedule A is used when your itemized deductions are more than your standard deduction. You can not have both. The only way to use this type of deduction is to itemized. For most average Americans, if they do not have mortgage interest (another item on Schedule A) they will not have enough to itemized and have to take the standard deduction then any charitable donations is out of the kindness of your heart. |
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midnightrose
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I got a tax credit of $500 which amounted to almost nothing. I pretty much gave it away for free, and I do regret it.... |
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CarVolunteer
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Just to add to the correct information from Judy, some charities distribute the cars they receive to needy individuals. In that case, you can take the fair market value of the vehicle, for example www.kbb.com private party value. If that exceeds $5,000, you need a written appraisal. The charity has to tell you how they disposed of the car. |
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Jessie H
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I would imagine that they are other factors to consider:
Income
Tax amount taken out of paychecks
Deductions |
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whotoblame
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There's a difference between a tax return and a tax credit. A tax credit is the amount you are allowed to deduct from your taxable income. A tax return or refund is an actual dollar amount you get back from the government. Donating your car will get you a tax credit. |
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