 Doing my son's Taxes? |
| Here's the situation, my son is 7 he got the Alaska Permanent Dividend Fund that is his only income for 2007. I need to fill out the 1040EZ but he is a child and they ask about whether your ... |
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 Hi there i am planning on starting my own business up? |
| hi there i am planning on start my own business up i dont know if i want to start my own up or buy a business to start with were th best place to look for this uk only ... |
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 What can we do to decrease the income tax? |
| Congress is talking about passing an increase in the federal income tax, but I think they have enough money already. How can we stop this?... |
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 My dad wants me to give him my tax refund check and he'd give me cash for it. does this make sense? |
how would someone benifit from that? i'm getting exactly what the check is for, so i dont care. but what benefit does he get from me doing this?
Additional Details
i do have an ... |
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 If I were to take out $3000 from my 401k, how much would I get back after taxes/irs penalty? |
| I'm 26 years old and have about $16,000 in my 401k. If I were to withdraw $3000 (not as a loan) to pay for a European vacation, about how much would I get after govt taxes IRS early withdrawl ... |
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 Why can't we make personal property tax illegal? |
| Shouldn't we be able to just buy a home or car without being taxed just for having it? It seems really messed up. I know the state needs money, but thats what sales and income tax are for. So ... |
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 How come they don't take my ex's refund or stimulus check when he is ordered to pay child support and he has |
| $5000 in back due child support? I know alot of people have asked this question and are answered with yes they do take the refund and stimulus check if there is back due c.s. But they have never ... |
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 Does anyone know if you can file a BK chapter 7 on back taxes? |
| My husband owes back Taxes from before we were Married, in the sum of $ 30,000. We are having trouble getting on top of this debt, someone told me we could file Chapter 7 on this , if not has anyone ... |
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 Cain I claim family on tax returns? |
| My sister and her two children have lived with me the entire year of 2008. She is not working, but gets some assistance from the state and student loans to go to college full time. Both children ... |
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 If I make a donation to a charity before April 15th can I use that against last years income taxes? |
| We are donating a used car to a charitable organization. If it is done before April 15th filing deadline can I use it against 2006 Tax year's income?... |
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 Do my parents have to claim me on taxes? |
| I am 18 and i'm living at home but I have my own car, pay my own car insurance, pay my own cell phone bill, and I go to a community college that I pay for myself. Next year I probably won't ... |
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 Free Tax Filling? |
Does anyone know a secure site where I can get my taxes done for free?
Thank You!... |
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| Can I claim a child if he dont have a SS#? |
Additional Details
He was born in Canada..and now living in America, but is waiting on a SS#? His baby sister got a temporary #, but we are still waiting on his to come through...... |
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 When the hell will I get my tax return? |
| I filed on march 26th with h&r block. I knew it would be a while cause I filed multiple years. Its now been 9 weeks and I still havent seen my return. Should I be phoning the CRA?... |
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| Could somebody tell me how much i get back? |
Last year i made 4200 and paid 695 in taxes and also paid 1000 for college out of my pockets, that i think is deductible expense. Could somebody tell me how i get back???
T... |
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 Why have i not recieved my stimulus check? |
| i filed my taxes and got my return, im a full time student with a part time job my last 2 digits of my SSN are 35 and my regular tax refund was direct deposited into my account. my whole family has ... |
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Mrk M | I made $6000 on self imployment this year, how much is the limit to file tax for self imployment? |
should i still file tax for this gross income? i worked as a contractor to make this amount? i don't have any other income beside this $6000. i would really appreciate if some one answers this question. |
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byu1980
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The answers that speak of a 15.3% rate are partially correct. Schedule SE asks for you to multiply your self-employment earnings by 92.35%, and then apply the 15.3% SE tax rate to the net number. Why is this done? Because several years ago, Congress decided it would be more equitable to allow those who pay SE tax to deduct 1/2 of the tax. The income is includible in taxable income in full, but in the Adjustments section of Form 1040, a deduction is now allowed for 1/2 of the SE tax. Thus, only 92.35% of your SE earnings are included in income, and the SE tax is now based on the same number. |
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Judy1
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Yes, you have to file - the limit is $400, and since you made over that, you must file and claim the income. It will go on a schedule C or C-EZ, along with any associated eligible expenses that you can deduct. You'll also file a schedule SE to calculate your self-employment tax of 15.3% for social security and medicare. The numbers from those two schedules will transfer to a 1040. You might be able to get an earned income credit that will cover some of your self-employment tax. |
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bostonianinmo
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The limit for SE income is $400.00 Even if your total income is below the income tax threshold, you'll have to pay SS and Medicare (15.3%) tax on the net profit. |
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smile
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Dunno how it works in the States.
Um, if it was paid in cash then declare nothing. |
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SmartAlex
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Legally, no one has to file. The income tax is unconstitutional.
http://video.google.com/videoplay?docid=-4312730277175242198
They might fine you, arrest you, or send you to jail, but they'll be breaking the law if they do.
We need to stand up to our leaders and tell them that they work for us, not the other way around. They are duty bound to support the constitution, not the bankers that stole our country. |
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Wayne Z
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$400
You need to file and, assuming you didn't make any estimated payments, you will need to get out the checkbook. |
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superstar_81882
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You may want to refer to Publication 17 from the IRS. This document can be viewed online at www.irs.gov. Click on Publications, search for the 2006 Publication 17, then find the chapter on who is requried to file. This information is usually within the first chapter or two. |
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carlogermain
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If you are receiving SS benefits, they allow you to have $7,000 of income without penalty. Just dont tell them you made it all in one shot. and yes you should file any income amount. |
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