 Is filing taxes online idiot proof? |
| i wanted to go online and try to file this year, but i've never done it before and i'm afraid of screwing up. please help, i'm young and dumb. :)... |
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 How is it possible for you to owe the IRS money if you were unemployed during that tax year? |
| I was unemployed during the 2006 tax year. I did not file a tax return for that year. I just recieved a bill owing the IRS taxes with penalty charges. How is it even possible I would owe the IRS ... |
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 Do you have to pay council tax if you are living on your own and under 18? |
Hi
Do you have to pay council tax if you live on your own and are under 18? Or is it only single persons discount you can apply for?
T... |
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 What is income tax used to pay for(UK)? |
I understand that NI tax is used for the NHS and Welfare when u become unemployed or sick.
council tax is used for schools, home helps(this should be under NI as it is health related), refuse ... |
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 If my grandmother gives my dad $10,000 as a gift each month, what will my dad have to pay in taxes? |
| My grandmother has recently discovered gas on her property, and is generously dividing her monthly EOG checks between her children. Each month, she is giving my dad (and each sibling) about $10,000. ... |
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 Do i have to pay tax if i just want to sell a couple of things for profit on ebay? |
Ok, so i've bought some stuff which i thought was an absolute bargain and i want to sell it on to make a bit of profit. Do i have to pay tax on the profit i make?
This is just a one-off ... |
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 What is the best software to do others taxes? |
| I recently received my tax preparation certification and I was wondering is there any software in particular that would be a good ideal to do other's taxes. In the past for friends and family, I ... |
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 If my partner goes to work? |
and earns £680.00 per month and our rent is £290.00 per month plus council tax and we have a child id stay at home how much working tax credit and housing benefit could we get
Additional D... |
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 Will the irs withold a percentage of stimulus payment for back taxes, or will they keep the entire rebate? |
| I was told that the irs will only keep a certain percentage of my rebate due to a 2006 tax obligation.... |
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 If I filed my taxes- and claimed myself- what effect will this have on my parents return? |
| For the past 21 years my Dad has always claimed me...I always e-file, (for the past 4 years) but never checked the box to claim myself- this year, I don't know if I missed it- but I filed ... |
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 Are UK parking tickets tax deductible? |
Additional Details
Sorry, I should have been more precise. I was talking about tickets incurred by a company's delivery fleet.... |
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 Should females pay more tax than men? |
When they are single their boy friend buys the drink and picks up the tab.
Girls are not required or expected to buy expensive items like houses and cars whereas men are required to do so (... |
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 I just got a 1099 form and it says $6523.50 under Nonemployee compensation? |
This one of my partime jobs that I get checks without taxes,
I've never done a 1099 before, How much taxes am I looking at paying? I read some of the other answers, some said it'... |
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 Do strippers have to pay taxes? |
| My friend was a stripper and she never did her income taxes, does she have to?... |
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 Will i receive a relief check if i did not make 3000 dollars last year? |
| I was away for the majority of the year in some legal trouble to say the least but i did file taxes for the little amount i earned in say a month or so of work. Will i get a check or no?... |
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 Turbo tax direct deposit.......say it ain't so...........!? |
| I did my 2007 taxes thru turbo tax and e-filed. I had my fees deducted from my refund and then the rest was direct deposited into my bank account. I am hearing that if you did your taxes this way,... |
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Darnell will be a year on Feb 18 | I just asked this question like a half hr ago but only got one answer....? |
How much money do you get back per child? I heard that it's 1500 from one person and another person told me that you don't get anything. Can someone tell me please? I am not married but I am living the father of the child/my fiancee. He makes more than me. So should I claim the child since I make less or should he claim the child since he makes more? We're not gonna claim the child til next years income tax b/c the baby will be born next year. I live in PA and I've searched all over the Internet and couldn't find anything on it. Thank you for your help in advance. |
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Judy1
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PA state tax is a flat rate, with no allowances for children, so having a child makes no difference on your PA taxes.
On your federal return, it's the same for all states. You get one exemption for a child. Since you aren't married, you will be filing separate returns, so either one of you, but not both, can claim the baby - unless, of course, you get married before the end of 2008, then you can file a joint return. If you aren't married by then, you can figure it both ways and the person who will save the most can claim him/her. The exemption for 2007 is $3400 - it will probably go up a little for 2008 when one of you will claim the exemption. The exemption amount is subtracted from your income for the year before taxes are figured.
The person claiming the child also gets a child tax credit of $1000. This subtracts directly from your tax liability for the year. If you don't owe that much total, it will take your tax for the year to zero - you won't get the extra back.
Depending on circumstances, it's possible you wouldn't get anything, if you don't pay any tax to begin with. But assuming that you do owe some tax for the year, your tax would be decreased if you are the person claiming the child as a dependent.
If the person claiming the child is paying MORE than half of the cost of maintaining the household, that person could most likely file as head of household rather than single, which saves a little more in taxes if you owe any.
Depending on the income of the person claiming the child, that person might also be eligible for an earned income credit because of the child.
You probably didn't get more answers to your original question because it sounded like you were restricting it to PA - but it's really the same for federal taxes no matter what state you live in, and for PA it doesn't matter. |
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ninasgramma
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There are two credits involved here, plus the dependency exemption. The credits are the Child Tax Credit/Additional Child Tax Credit, which is up to $1,000, and the second credit is the Earned Income Credit which is up to about $2,500.
For parents who are unmarried but live with the child, it is possible to split the benefits for the child.
You and the father need to work out your tax returns in the following cases:
1. One parent claims nothing, the other claims the exemption and CTC/ACTC, and EIC.
2. One claims the exemption and CTC/ACTC, the other claims EIC.
So in all there will be four cases to figure. Usually, the higher earning parent will claim the exemption, CTC/ACTC, and file as Head of Household, and the lower earning parent will claim the EIC for the child. In the best possible case your refund from the child could exceed $4,000.
FYI, if you cannot agree who claims the exemption (and the CTC/ACTC that goes with the exemption), the higher earning parent gets to take the exemption. |
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puanani
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The best person to know the right answer to your question would be a tax preparer (CPA). Look in the phone book and call them to find out the correct response. Good luck. |
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jimmyp
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If you are in the same bracket it doesn't matter who claims. A tax accountant can run it to find the best answer. Most likely it would be the father - higher income - more likely to be in a higher bracket. |
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PepsiLime
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My answer is the same now as it was 39 min ago.
There is a $1,000 per child child tax credit, but it is a non-refundable credit (you can't get anything back if you don't have a tax liability). More than likely your fiancee should claim the child (as long as he is the father he can), and he will be able to file as head of household. Also, the child will give him another personal exemption, 3,400 for 2007. Now, if you two get married before the end of 2008 you won't have to worry about who would claim the child, as you'd be filing a return as married filing jointly. |
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glaciergizzlybear
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I agree, contacting a CPA is your best choice. They will give you a precise answer after reviewing all the information. They will most likely charge you as fee as their services are very valuable.
I know many CPAs and I can reccommend some.
Good luck, |
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Rick B
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THe IRS website has tax forms available. Go fill one out for each of you and see what the results are. |
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Joshua S
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We have five childern and it is 1,000 per child credit. This is called earned income should be IRS Form schedule EIC. There is other factors to keep in mind that offset some of these monies. Married,single and income. I hate to say this but I will a couple can get more benifits by staying single and living together than to get married but you have to decide what is morally right. A single parent can get all kinds of help. The IRS has a web site type some keywords in google. Good luck and hope it helped. |
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