 How should I spend my tax refund? |
| Me and the wife usually go on a vacation. However this year we are in debt with credit cards and personal loans for a total of $3200. Our expected tax refund would be $3000. Play it safe and payoff ... |
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 Overpaid Paycheck Because Exemptions? |
| Last two paychecks, I noticed I was getting an extra $200. Today, I accounted for that $200 based on less taxes taken out for Federal and State. The reason? They changed my exemptions from 1 to 9! ... |
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 Why is my federal tax refund so low this year? Should we file separately? |
| We had a baby in 6/06 and thought our 2006 federal refund would go way up; we received about a $1200 refund last year. In 2006 I made $44,557.50 and had $4563.19 federal withheld; my husband made $47... |
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 Are taxes based on total income or taxable income? |
| In other words do I calculate the eaxes I owe (I'm in the 15% bracket) based on the total income or the income after all the deductions are taken out?... |
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 Can I deduct it in 06 if I buy online today? A business purchase? |
I want to buy a computer and deduct it off my taxes (it's for my business.) Can I buy online today and deduct it or does it only count for the day it gets shipped?
I'm talking a large ... |
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 How long do you have to work in order to file for taxes??? |
| i have been working since aug.2006 so i was wondering if i can file for taxes???... |
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 Can I file taxes twice? |
I changed my job mid last year and got a new one. I have only received one W2 form.
Can I file taxes with the one W2 I've received, and then file again when i get the second one?... |
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 £60 tax rebate in our September pay packets? |
Is it true that those of us on the basic tax rate of 20-22% will get a tax rebate of £60 in our September pay packets and also a nett pay rise by £10 per month for the rest of the tax year?
<... |
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 Can the IRS lien property in my name if my husband owes them money? |
We are attempting to resolve his IRS problems, however I am aquiring property and only want my name on deed. Will I be liable for his debt if it was incurred before I obtained this land.
A... |
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 Obama's plan for tax cuts for the middle class..? |
From NBC's Andy Merten and NBC/NJ's Aswini Anburajan
A day after calling for greater transparency on Wall Street, Obama focused on middle-class tax relief while speaking today to an ... |
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 I'm a student well under my tax threshold, but my recent p60 shows over £400 tax paid.How do I get this back? |
| In addition to the title, where do I send off to, how long does it take, if I go through an intermediary how much do they take, doe anyone out there have prior experience of this situation?... |
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 To all carers in the uk? |
| we all work 24/7 saving this government a lot of money for peanuts,dont you think we deserve a rise?... |
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 I am receiving a large personal check, will I be taxed and do I have to report this to the IRS? |
| I am getting a personal check from my grandparents for $19,400. It used to be in some sort of account that they had set up for my college but I am done with school and they are sending me the rest in ... |
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 The hate cleric Bakri's daughter gets £360 a wk benefits yet I pay tax on a pension of £224 wk. Is that fair ? |
| Mine and my wife's old age pension and a small private one are left with £210 a week after tax and are not entitled to state benefits. Had we been on state benefits, we wouldn't be liable ... |
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Jarielw | If I sell my personal belongings, do I count that as income when filing taxes? |
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velcroboy15
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you would only pay tax on a profit - it's called 'captial gains' and usually just applies to vintage cars, real estate etc - things that can appreciate - if you bought a cd player for $200 and sold it for $150 you don't pay tax on the $150 but if you sold it for $250 then technically you should pay taxes on the $50 profit but not the whole $250. Even then, with bigger things and capital gains - like selling your house - there are often exemptions to lessen the amount of tax - like if you sell your principle residence you are likely exempt from paying a portion of tax on it depending on the profits but if you sell another property that isn't your personal residence than you pay capital gains on the whole profit.
I hope this helps. |
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clippers
 |
You don't include the income for taxes. The rule of thumb is that if you sell stuff that you own to buy new stuff like clothes and furniture you don't have to report the income. |
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Mathew
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Only if you sell them for more than you paid for them. |
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nessadipity
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That's not possible to include that on you income tax-However if you're donating them to some organization you can put down the estimate of your donation. -Also check out the link below which will explain more... Hope this all helps. :) |
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luckylindy0
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No |
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Josher
 |
Typically that is not something you would report on your taxes.
Now if you make a regular profit out of selling your stuff to other people, maybe because your famous, and people want your stuff, so you can sell it for profit. Or if you just have a good habit of buying stuff cheap and selling it at a higher price then yes you better start paying taxes on the profit.
But if you are having a yard sale, no you do not have to pay income taxes on it because you are more than likely selling it at a much cheaper price than you bought it for. |
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eXecuTech
 |
No, you paid sales tax on those items with income that had taxes deducted from it so you've already been double taxed. Whatever proceeds you receive from the sale of those items is free and clear. |
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mauroh
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No. |
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Kenshin
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all income means all income |
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