 Why won't the IRS, nor most C.P.A.'s show us the stautue where it's states all workers must file a 1040 form? |
| Recently, Tom Cryer was recently found 'not guilty' by a jury for 'failure to file' a tax return. Mr. Cryer stopped filing yrs ago. The judge, the govt attorneys, and the jury ... |
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 $600 tax refund check? I only got 389.90...why? |
What happened to the other $210.10???
Additional Details
Ok, well I guess I didn't hear the Prez right...I didn't hear him say "...up to...". I thought Uncle Sam was ... |
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 Are we really not required to pay our income tax? |
Ive seen numerous things about there be NO law to make us pay or file an income tax. How accurate is this? I shouldnt wouldnt mind keeping my money.
Additional Details
Umm actually if ... |
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 Do I need an accountant? |
I am a sole trader, but mainly need someone to help me sort out budgeting and paying back debts.
End of year accounts I can do myself-particuarly with online self assesment.
Am I wasting ... |
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 What states have no taxes? |
| like what states have no state taxes? are there any?... |
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 If you owe money to the IRS, will they take your stimulus money to be repaid? |
| One of my co-workers said that the IRS told her daughter that they will be taking her stimulus money, due to the fact that she owes back taxes. I thought the money is ti stimulate they economy, not ... |
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 Do you pay more tax on a 2nd job? or is the same 20% on both? |
| I have 1 job of 32 hours and a 2nd job of 14 hours,I know about the personal tax allowence but do i pay a higher rate on the 2nd job or still 20%?... |
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 Can an employer deduct 1/2 hour lunch break from my pay, if i am part time and only working 50 hours a week? |
| I live in IL and my schedule just changed to 50 hours a week, so I'm not sure if this is fair. Plus because of the Labor Day Weekend I only worked for 45 hours, and I didn't really take a ... |
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 P60 tax rebate? |
i got my P60 today earnings £19.759, and payed £2928.78p tax, tax code 522L how can i tell if i can get a rebate ? or if anyone knows anything about tax could you let me know cheers?
A... |
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 Earned income credit--age requirement? |
My daughter is not married and is 24 yrs old..she has a daughter 7 yrs old....the IRS rules state she has to be 25 yrs old.
Now.....she will be 25 April 12th...the rules do not say anything ... |
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 What are the tax advantages of owning a home? |
Will my wife and i receive more money as we bought a house this year.
Additional Details
We paid over 10K in mortgage interest and 4K in property takes.... |
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 How long should i have to wait? |
| i have just switched jobs and am being emergency taxed how long should it take until they have sorted my tax code? i dont know if my old employers have passed my p45 on to my new employers or if iam ... |
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 Falsely Claimed Dependent? |
| I made $12,000 in the past year and am a full-time student. I don't live with my father and he maybe provided me with $1,000 worth of support in the past year, yet he claims me as dependent. I ... |
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 If my dad gave me ...? |
$50k,when he sold his house, do I need to pay taxes on this or is that totally his responsibility when he sold the house?
Additional Details
We are not avoiding taxes, I just want to ... |
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Angel222 | If I am an independent contractor who made 10,000 in 2008 - how much of a tax refund will I get back? ? |
I am single - no children. I am a full time graduate student.
Additional Details
Am I able to deduct medical expenses to receive a refund? |
 |
 
Charles G
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NO student discounts for taxes.
Did you pay any money in at all? If all your pay was as an independent contractor, probably not, unless you made estimated tax payments, like you should.
Did you make 10,000 in income or in profits. You need to figure your profits on Sch-C, and then you pay self employment tax of approx. 15% (it really works out to 14.16%, see Sch-SE) and whatever income tax, probably none.
You will pay taxes or get a refund on the difference between what you paid and what you owed. |
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wartz
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You will get nothing and will owe self employment tax of about $1,400 |
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sandy2002w
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depends how much you paid into the tax system.
Also how much you spend on your business I hope you kept your receipt.
You might not have to pay since 10,000 is not that much. |
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acmeraven
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If you are under age 25 your total tax will be $ 1,513 and if you are age 25 or older your total tax will be $ 1,247; since you will be entitled to EIC. If you have lifetime credit available for education you can reduce either amount by $ 34 which is what the federal income tax portion of it is. If, as an independent contractor, you have any expenses by which you can reduce the gross amount your tax bite will be smaller. Travel, meals, supplies, cell phone, yada. If you want any clarification don't hesitate to ask me; 37 years hands on experience here. |
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Judy1
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How much did you pay in for quarterly estimated payments? Your tax on the $10K will be around $1413 for self employment tax for social security and medicare, plus around $105 for income tax if you are not a dependent, or $455 if you are a dependent. If you paid in more than that total, you'll get the extra back. If you didn't make estimated payments, or didn't pay in enough, you won't get a refund, and will owe whatever hasn't already been paid in. |
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Jss
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You are self employed or independent contractor. You will report your income and expenses on schedule C or C-EZ (Form 1040). This income is subject to SE tax at 15.3%. Read about self employed (or independent contractor) tax filing and payment of estimated taxes: http://taxipay.blogspot.com/2008/04/tax-filing-by-self-employed-sole.html
You owe around $1500 of SE tax and $100 of federal income tax. |
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golferwhoworks
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that depends on how much in taxes you overpaid. If you have paid none then you will owe a little maybe |
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happy
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First did you pay taxes on that money yet. If not they will take taxes out of the money you would have received. and where do you live some states give you state taxes? |
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