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 If I take some money as loan from my friend for few year, will I be counted in my income tax.plz help me out?

Additional Details
i am an indian ...


 Why don't we replace the income tax with a sales tax?
I'm talking on a federal level. A tax of 15-20% would be roughly equal to what the IRS takes in in sales tax. This would be more fair to the people, because it taxes on how much they spend, ...


 No stimulus check for me?
Greetings,

As of today 5/02/08 I have not received a stimulus payment from the government. I did use direct deposit when I filed this year. Is it a logical assumption that I won't be ...


 I owe irs am i still eligable to receive stimulus?
The irs is garnishee my disability checks, Can i still apply for a stimulus check and have that amount deducted from what I owe?
I know I still have until sometime in Oct 2008.
Thanks for ...


 Roth IRA question?
I want to open a roth IRA, but have no idea where to start, should I open up an IRA in a bank or online somewhere. Also do you have to pay income tax on the interest received every year? What are ...


 WHAT DO I DO IF I DIDNT GET MY STIMULUS.... what now?
Well simply put i made about 6k last year with my part time job so i do qualify and i am no a dependent by any means as i did file my own tax return. however i still did not get my tax return and ...


 McCain's tax return?
McCain's wife won't release her tax return as she files separately because she is worth more than 100mil. McCain only claims 405K. Is this the kind of person we want to continue running ...


 1099 what happens if you do not include on your taxes?
What happens if I do not claim a 1099?What are the chances of being caught.I made about $3000.00.I would like not to claim just found out I am being 1099...


 Do you have to fill out a new w 4 tax form every year?
...


 Has anybody had trouble with theie tax credits?
...


 Why have I not received my stimulus payment?
I signed up for direct deposit, my last 2 digits of my ssn end in 31 and I have not received any direct deposit (supposed to be no later than May 9). anybody else w/ problems? i didn't get a ...


 I need Tax Id Number but not sure what kind or how to obtain one, got an answer for me?
Farmers market sell garden and baked goods without taxes but all other goods need Tax Id Number, What kind of Tax Id Number do I need for this?...


 Can we both file head of household since we each have a kid and are unmarried?
My boyfriend and I live together. We have 1 child together and he has 1 child from a previous relationship. Whats the best way to file to get the most money back? I worked all year and made the ...


 How much will a person take home from £26,000/year?
PAYE salary.

After taxes how much will a person take home monthly/weekly if their salary is £26,000 per year?

Thank you!...


 Are taxes good or bad?
For a school project I have to write a pursuasive essay about my views on taxes. It would really benefit me if I could get a few oppinions because I really am no tax expert. If you decide to help ...


 I heard their is a way not to pay social security?
Does anyone know how i can do this. I heard that the process is long and tedious but i want to do it. and if you do know how, do you know if thier is ...


 Who do i ask about a shop whose not passing on the new vat?
who do i ask /report a shop to whose not dropped their price due to the drop in vat on goods, as their excuss is they never put their prices up before, yet their prices on a fair amount of goods ...


 I got my Stimulus Payment Today, but not all of it? Will it come later today???
I am married and have to Qualifying children. And my accountant said we were getting back 1800, (600 for Me, 600 for my husband , and 300 for each kid.)
Today is the day the IRS Website said it ...


 Can my husband cash our stipend check without my signature?
...


 Which bank have 1000 branch in india?
1.icici
2.sbi
3....



Tom R
If I have 3 jobs can I deduct miles from one job going straight to another on my 2008 tax return?
                     
 




quizzard123
Rating
No, you cannot. Each travel segment is part of your time going to work or home. Stops in between (at other workplaces) are irrelevant. That is personal travel and not deductible.



Wayne Z
Rating
Yes, mileage between jobs is deductible ......but....

It may not help you.

Mileage between jobs is a Misc. Itemized Deduction subject to 2% of your income. You total all of your Misc. Deductions and subtract 2% of your income. Plus, it is only deductible if you are able to itemize your deductions.

Other Itemized Deductions Include:
Medical Expenses (in excess of 7.5% of income)
State Taxes
Real Estate Taxes
Mortgage Interest
Charitable Contributions

As mortgage interest is usually the biggest deduction, unless you own a house and are paying on a mortgage, you probably won't have enough to itemize.


Clark Kent
Rating
Yes you can deduct all job-to-job mileage, but you cannot deduct the mileage from home to the first job site or from the last job site to your home.


wartz
Rating
If you itemize your deductions, you can deduct all the mileage except from home to your first job and from you last job to home.


Judy1
Maybe, if you keep a log of all of your miles, showing which are the business ones. Miles from your home to your first job of the day, and from your last job of the day back home, are not deductible.

To deduct them you have to itemize, and can only deduct the expenses that are over 2% of your adjusted gross income on your return.


golferwhoworks
yep you can as long as you keep a log and do not file an ez


MadMan
Rating
You have not explained yourself clearly. If these are three separate jobs with different companies, then no, you cannot claim for going to work. Having three jobs is irrelevant. If you work for one ccompany and you are required to go to other sites, then you can claim mileage for going to and from your primary site.


Beverly K
As long as you go directly from one job to another yes they are deductible. Keep a log so in case you get audited later you have back up.


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