Home | Links | Contact Us | Bookmark
Financial Forum Search :
   Homepage      News      Financial Topics     Finance Directories      Financial Forum      Dictionary  
Financial Forum    Taxes
Finance Discussion Forum

 Can I claim money sent overseas to family as a deduction?
Granted, said family members do not live with me. If such money couldn't be claimed as a deduction for supporting family, can it be claimed as a deduction for charity?...


 Do i need all W2's?
My wife and i are filing jointly do i need to include her w2s if i made more then her and she did not work all of 2007?
Additional Details
sorry worded it wrong she worked part of 2007 ...


 Do illegal Immigrants pay taxes?
Im doing a report and thought someone would know
Additional Details
All of the websites i am seeing say that illegal immigrants do in fact pay taxes but all of these people say they don&...


 I see advertisements to settle back taxes for "pennies on the dollar". does this work or is it a scam?
i live in california, and know i owe back taxes. i'm divorced now, but my my tax filings for 2004, 2005 were messed up by my ex, and i didn't file in 2006 because i didn't want to get ...


 After tax and everything else, what percentage of your salary do you usually get?
...


 Is there a bmw lottery? and is it a scam if they want tax money?
...


 Unexpected deposit from the irs?
i have already recieved my income tax refund (state and federal) a couple of months ago. the other day there was a deposit in my account for several hundred dollars from the irs. could this have ...


 . my salary is 9000 pm.the company deducts from me 24% provident fund. is it lega?
...


 When are taxes paid with a roth ira?
Suppose I start a Roth IRA with money that I have saved. I have been told that interest(s) earned from the Roth is taxable, but the rest of the money invested is not taxed since I used tax paid ...


 What to report on stock proceeds for Tax filing?
I just received my 1099 from my online broker. I'm not sure what to report on gains so please help me. For simplicity, I bought stocks at $2500, and sold them for proceed of $2800. My profit ...


 My ex claimed our child as a dependent on his taxes though I have custody and did not give him permission?
I live in FL and we are seperated, but not divorced. I have two children and have custody of both. He claimed one without my knowledge or permission. What forms do I need to fill out?...


 How much percent does social secuirty take from my check?
not married, live with parents... if that ...


 What percentage of your yearly income goes to federal taxes if you are single?
living in a home, and then renting an ...


 I am filing my taxes online and it is free for the federal part but the state has a fee. Is it mandatory??

Additional Details
The question is...IS IT MANDATORY TO FILE STATE TAXES??...


 My boyfreind has not done his taxes since 2004. can he get in big problems?
In 2004 he sold a home he bought about 20 years before. He lived in and out finally, in 2003 the renters moved out and he ended up paying the mortgage until he sold it. He has not filed in 2004. W...


 How much are you getting back on your taxes?
...


 Is it true that taxes are much higher in Canada than in the US?
Whats the percentage difference?...


 My stimulus rebate did not show up?
I filed through taxact the last 2 ssn are 16 I filed the free fed return. but had money taken out for them to do the state return will they still send it paper. I had them both direct deposit
I...


 Is the 401k and IRA pretty much a shi**y return because when you take it out you will get taxed on it?

Additional Details
you do pay TAXES on it when you take it ...


 What do you think about our government system?
...



atmrlz
I'm 21 years old. My mother still claimed me for taxes but does that mean I can't file for taxes?
I'm in Tampa, FL by the way.
                     
 




denise
Rating
If you had an income, you need to file taxes. I claim our 18 yr old daughter still, because her income is so small that she doesn't pay much in taxes anyway so doesn't make much of a difference on her taxes ... even w/o the personal exemption, she only pays about $50 in fed taxes. But by claiming her on our taxes, it makes a considerable difference.

I've been using Turbo Tax for years now, it's a simple easy to use program. It walks you through step by step. My car insurance company (State Farm) actually has a link through their site that allows me to file taxes for free using Turbo Tax.


Treyot
Rating
You can still file, however you won't be able to clame any exemptions. That just means you'll only get the standard deduction of 5150 instead of that plus your 3300 personal exemption. Any amount over 5150 is taxable income for you won't get all of your income tax witheld back.

However it also means if you had over 5150 in total income you have to file! The person's answer about your mom not being able to claim you is incorrect as long as you're currently a full time student, still living at home (not including dorm living) and you didn't pay for over half of your own support. If those three requirements are met then she can claim you till the year you hit 24!

I prepare taxes for HR Block and we get questions like this all the time. They changed the laws for last year and it's confused alot of people, so be careful who you take advice from.


Ryan K
You can file, you just cannot claim the 3300 personal exemption.


loandude
Rating
You can file but you can't claim yourself as a dependent.


briguy12345
Rating
Yes you HAVE to file your taxes if federal or state income taxes were withheld which is prob the case if you made over 500 dollars. You just cant claim yourself, no big deal. You do have to file though. You want your refund dont you?


Judy1
Rating
If you were not a full-time student for at least half of 2006, and you made over $3300 in 2006, then your mom isn't entitled to claim you as a dependent - talk to her so she at least knows that for next year. If she's already filed this year but wasn't eligible to claim you, she could amend her return to take you off as a dependent.

If you were a full-time student, or you made under $3300 and your mom provided over half of your support, then you can file, you just can't take an exemption for yourself, and need to note on your return that you are a dependent.

If you are a dependent, you have to file if you made over $5150 - if you made less than that but had federal income taxes withheld, you should file to get them refunded to you.


misty blue
Rating
As I can remember I think if your still in school she can still claim you. when you go and get it done ask the person whos doing it. if you can still file on your own. good luck.


Mr. Spin
Actually you have to claim yourself at 21, but then you will get your mother in trouble.

You are not a child anymore and your mother cannot qualify for the $1,500 "child deduction" legally.


 Enter Your Message or Comment


User Name:  
User Email:   
Post a comment:







Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.034
Copyright (c) 2011 Financial Crisis Tuesday, May 29, 2012 - Terms of use - Privacy Policy