 Why are the most productive people taxed the most? |
And the least productive people taxed the least (or not at all)?
Does this make any sense to anybody but a communist?
Additional Details
JACK You lose, L... |
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 In your guys' opinions.....? |
| which is better to go to......H and R Block or Jackson Hewitt?? i have been going to H and R Block for years but i was thinking about trying Jackson Hewitt because i wasn't too happy with H and ... |
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 If you donate to Good Will is that a tax write-off? |
| I have TONS & TONS of clothes and shoes, etc worth alot of money; my husband tells me to donate it to Good Will so we can just write it off for our taxes? Is this true? And how do I go about ... |
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 Can I claim child support on my taxes? |
| I write a check for an amount assigned by the state plus i pay for health care the my child. Can I claim this on my taxes?... |
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 Stimulus Rebate Cant Provide Status? |
Last 2 digits are 03. Supposed to hit today Direct Deposit.
IRS website says:
"We are sorry but we cannot tell you the status of your Stimulus payment."
A... |
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 Do the homeless and unemployed need to file taxes? |
Ok....
I have a bet going with my girlfriend. Do you only need to file taxes if you have an income? My thought is that even if you have no income, the federal govt. wants you to file a ... |
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 For the last 7 years of my Mums life, she paid a woman £113 per week to care for her. should this lady pay tax |
| My main reason for asking this is that I am aware that this lady and her husband fleeced my mother, and also basically ignored her during that time, despite the fact that my Mum bought her a new car ... |
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 Can I be claimed as a dependant on taxes? 21 yr old college student living with parents. Help!? |
| I'm a 21 year old student attending college...i live at home with my parents (and two sisters)...my parents provide everything (housing, food, bills etc)...and I have a less than part time job (... |
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 The rebate checks people are getting in the mail, is it tax free money? |
Or do you have to claim it as income and get taxed on it?
Curious.
Additional Details
Judy, it was just passed.... |
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 My boyfriend paid for all of my bills and expenses in 2007, can he claim me as a dependant? |
We've been living together for 9 years and last year was the first that he paid for everything...my student loans, bills, food, etc.
When I was younger and working, my father tried ... |
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 The IRS are trying to say that I owe them taxes now. How? |
| During tax time, I was expecting two W-2's but only received one. I went on ahead to file that one and received a small refund of $300 and something. I put in all of my medical payments and ... |
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 Should fat buggers be taxed more.......? |
| lets face it they eat more of the earths resources, take up more space, and we burn more petrol to lug em round. think wot a difference it would make to the economy and the ozone layer..... tax em or ... |
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 Do you pay tax on a second job which is part time? |
| i recntly started a new job which is full time i didnt get taxed on my first wage then my old emplyer rung me and aked if i wanted to go back just 8 hours a week as well as do my full time job,do i ... |
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 I'm still waiting? |
| well here it is June 16,2008 and My extra tax check hasn't come yet! Everyone else I know has recieved theirs, not me.I've gone to the page to find out when I'll get it but all it ... |
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 What do i do if i receive a W2 by mistake? |
| I received a W2 for a place i never worked for. EIN number 26-1242925. Cant find it anywhere on the web? Called IRS and they said I need to contact the company, but I cant locate it by the address ... |
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cheerios | I babysit to earn enough money for groceries. Do I have to pay the irs tax on my grocery money? |
Its not like I make alot of money babysitting for in-laws. My husband earns a living. I just babysit for cash to buy our food. He earns enough to pay the bills, but not much left after that. Now if I have to pay taxes on the little I make from babysitting----------------well I guess I won't be buying groceries. |
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troythom
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Legally, yes you have to report the income if it is over $600 per year. Doesn't mean that every week you have to send the IRS money. You just have to report the income at the end of the year. Depending on your tax bracket, deductions, etc... you may or may not owe taxes on the extra income but you do have to report it. |
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jlgourdin
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Technically yes, realisitclly no. Unless the person you're babysitting for is reporting the money they give you to the IRS, there's no way the IRS would even know about it. Thus there's nothing to file. |
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dwh12345
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Technically yes..logically no..unless you give the person who pays you your social security number there is no way the IRS could ever find out |
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SuzeY
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Technically speaking, any income earned is taxable. I don't know how much you're talking about here, but most people tend not to claim just a few hundred dollars in cash jobs like yours. If your babysitting clients aren't deducting your fees as a child care expense, then chances are that the IRS won't be aware of the arrangement since there's no "paper trail".
As a cpa, though, I'm obliged to tell you that all earned income should appear on your tax return, whether or not you've received any tax documentation regarding that income. |
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jbird35645
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Actually it wouldn't be a bad idea to file a Sch C with your 1040 for 2006. With all legitimate expenses you could very well have a loss. Therefore paying even less in taxes. These expenses could include but not limited to telephone, food for children, part of your utilities, and any other expenses you incure in your babysitting. |
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dillon Y
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I really like the respones when people do not want to pay taxes. As a CPA i always tell people, Richard Hatch is looking for a roommate.
All income is taxable, unless the tax code exempts it.
There is no difference between you working for Sears and your in-laws, income received from both of them is taxable. The downside is that if you get hurt at Sears they pay workers comp and unemployment, your inlaws do not.
You get a lower amount from your inlaws because you do not declare it as income and they cannot deduct it. That is the choice you have made. |
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cookiesmom
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if whomever you are babysitting for chooses to claim the money paid to you as childcare expense on their return then yes you have to claim it and only if its over $600 for the year combined total..and you will know if they are claiming the expense if they ask for your social security # |
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T H
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I don't know where the two answerers above came up with the idea that you don't have to file taxes unless it is over $7000 or over $10000.
In the US, any amount you make is taxable.
If they are paying you cash under the table, that is the risk you are taking...people do it all the time.
But if they are taking the child-care deduction on the money they pay you, you better be filing.
Haven't you heard stories of people who were running for a political office and got in trouble because the government found out they weren't giving their household employees (babysitters, maids) 1099's? |
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STEVEN F
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Assuming your parents can claim you as a dependent, the instructions for the 1040 state you have to file if you meet any of the following conditions: Your unearned income was over $800. Your earned income was over $5000.
The short reason is, if your income is less than that, your taxable income will be zero. |
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dancingfool229
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If you don't tell i wont. |
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eeaglenest
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If your in-laws are taking a Child Care deduction on their 1040, you may have to report your income. It just doesn't make any sense for them to do that since you are family. Find out what they are doing and seek the help of a professional tax expert. It may not cost anything for that kind of advice. |
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exodus64_1996
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If they are paying you in cash, there is really nothing they can do about it, unless you say something to them. |
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debean75
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I think there is a cap, if you make over a certain amount a year, you are supposed to claim it, if you stay under that, you are fine. Not sure of the amount, ask an accountant. |
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regerugged
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It depends on your tax filing status. If you file a joint return, you may have to add it in. If you file a single return, your earnings will not be above the minimum, which was $10,000 last year. So you won't owe taxes. |
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T F
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Not if its under $7,000 dollars. If it is, you eat alot of food! |
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