 My work I used to work for (last year or so) never sent me my tax papers, what do I do? |
| I talked to corporate and they told me they sent them out but it's already FEB. 10th. Now lets say I don't get it, what happens? I Don't get in trouble for there faults for me not ... |
|
 What percentages of our incomes go to taxes ? |
| It crazy.. Income tax, property tax, taxes on all your fuel and purchases... what percentages do average people pay ... do they get to spend any of there ... |
|
 What do you do when you're at the absolute end of your rope? |
| There are a lot of things going on right now that I don't feel I can handle - but what really has got me down right now is that my brother came over tonight to do my taxes with me and I found ... |
|
| Can my bf claim our son on his taxes since i do not have to file? |
| obviously we arent married and because of that i am the primary parent. we do live together and i dont work just go to school full time so i dont have to do taxes and this has been a big question ... |
|
 Is the earned income credit fair? Doesn't it reward taxpayers that only work on a part-time basis? |
| Is the earned income credit fair? Doesn't it reward taxpayers that only work on a part-time basis? What might be a better solution?... |
|
 Can I combine W2's from different years? |
| I didn't file taxes for 2006 but I will for 2007. I am entitled for a refund for both years. Can I just combine my 2006 W2 with my 2007 W2 to get the refunds at the same time?... |
|
 If an income tax return was not filed and some money was ? |
owed to the IRS,[not a very large amount,but more than i had]can it be
handled fairly easy and cleared up without severe consequences?... |
|
 I bought a house and I have a question.? |
| I have been in my house going on 3 months now. What items besides day care and education can I claim on my 2007 taxes? Also do I have to show proof?... |
|
| My husbands exwife is apparently claiming their 4 kids for taxes, but he has legal full custody? |
| We cannot do efile because everytime our tax agent goes to file our taxes it comes up that someone has claimed the 4 kids. Each year we have to send the kids report cards and any medical papers we ... |
|
 The governement has just spent 700,000,000.00? |
| Do you believe that the government should have bailed out the banks If they can give the banks that much money how much money could they given to those people with mortgage ... |
|
 What does the abolition of the 10p tax band mean to me? |
| I live alone with no kids, work full time on 18k a year.... |
|
 How can i claim my kids on my taxes and havent worked this year? |
I have not worked all this year. but i am in school( college). i have two kids how can i file taxes. i have watched and earned some money watching my family children?
... |
|
 Benefit's Payments..........? |
| Does anyone know when Child benefit is being paid as mines due xmas day also, child tax credit which is due boxing day and also is income support normal as mines due on the thursday 27th.... |
|
 I live in a Condominium, in New York, and I am told that Maintenance charges for the Condo are tax deductable. |
I live in a Condominium, in New York, and I am told that the maintenance charges for the Condominium can be climed as expenses.
Please advise if this is correct.
Thanks.... |
|
 Is it right that the Bank of England helps the "private" banks in these hard times? |
| The B.O.E. has dropped the interest base rate twice, the banks didn't pass them on, now the tax payer may have to bear the banks losses..... what else will they do with my (tax) money?... |
|
|  |
coachesmummy@verizon... | I am a widow 701/2 and have SS and have to withdraw from IRA. How much can I earn before I have to pay taxes? |
|
 |
 
Mathew
 |
If the IRA is a Traditional IRA any amount that you draw out would be subject to income tax. That said you would have at least your standard deduction of $6,400and $3,300 personal exemption to reduce your tax liability. Depending on how much you are drawing from your IRA it could subject some portion of the SS to income tax but don't worry about that unless you are withdrawing more that $11,000 from the IRA. If some portion of your SS and IRA money does become subject to tax you would be at one of the lower rates.
You should be able to get somebody from the AARP in your area to help you with the tax issue. |
|
ninasgramma
|
I assume your only income is the IRA withrawal, your wages, and your SS benefits.
If the IRA withdrawal plus your wages totals more than $9,700, you are required to file a tax return. You will owe tax if you have no deductions other than your standard deduction and one exemption.
If your IRA withdrawal, plus wages, plus half of your Social Security payments is more than $25,000, then some of your Social Security will also be taxed. |
|
Wayne Z
 |
$9700, I believe.
The standard deduction for a single person over age 65 is $6400 and the personal exemption is $3300.
Assuming $9700 is above your required minimum distribution, anything up to this amount should be tax free. |
|
acmeraven
|
You can withdraw from your IRA and work and earn money tax free until you hit $ 9,700.00. At that point you will have to pay tax on whichever. Federal tax on the first 10,000 in taxable income is 10% at this point in time. |
|
Judy1
|
When Mathew mentions AAPR, he's talking about a program called TCE where trained volunteers do income taxes at no charge. You'd be eligible for their services. You can find more info on the irs.gov website if you type TCE or VITA into the search box at the upper right of the main page. The website with addresses of sites isn't up yet - it will be by February 1. |
|
~*WoodSmoke*~ ~Environment~ daBlogPound,Inc
 |
Go to www.irs.gov. Publication 17. It gives the guidelines for income, age, and tax rate. You should be able to withdraw from your IRA at a low tax rate if at all. You should not gain any penalty.All sources of income must be considered.
Remember, there is a penalty in some IRA's, 401K's that have NOT had a withdrawal by age 70 1/2.
Seek the help of a tax professional. |
|
tyms_up
|
You don't have to claim your ss if you are unemployed. Income from earnings from an employer have to be claimed and if you make more than 12K ?( this number might be more - check this amount with IRS, you can find the number in your tax booklet) you may get your ss amount decreased. Your age allows you to withdraw from most IRA's without a penalty (you will know that from the rules that applied when you first started investing) but to the best of my knowledge this does not exempt you from having to pay taxes on the distributions. Your IRA financial institution will send you a 1099-R listing the amount of distributions/yr and whether it was distribution code T or Q. Also, there are many types of IRA's. Did you continue to make contributions in the year you received distributions? You probably should wait until you get your 1099-R and then seek a tax consultant...like HR Block or a qualified CPA. Also, special rules apply for people whose main home was in hurricane disaster areas. |
|
Nanno D
 |
you have been a member of the ss and the ira and a only 70,5
years old widow?
you should write a book! it will be a bestseller,never mind the
taxes,move to monaco. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
8 | 3 minutes(s) ago
| | | |
8 | 7 minutes(s) ago
| | | |
8 | 30 minutes(s) ago
| | | |
8 | 3 hour(s) ago
| | | |
8 | 7 hour(s) ago
| | | |
8 | 10 hour(s) ago
| | | |
8 | 2 day(s) ago
| | | |
8 | 6 day(s) ago
| | | |
8 | 2 week(s) ago
| | | |
8 | 3 week(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
