 Claiming child on income tax? |
| this is going to be my first year that i claim my son. him being only seven months... my question(s) are, roughly, how much do you get per child... and recently my gf said that she is entitled to ... |
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 I intend to work 2 fulltime jobs. One I do now is at 15K, the new one is 18k. What tax will I be paying? |
Both jobs are web related, and the second is web based entirely.
Do I have to inform my current employer?
Do I have to inform my new employer of this?
What this might implicate?
T... |
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 My fiance has not paid taxes for 3 years now! WHAT TO DO!? |
| Okay so my fiance was a contracter for this company and was paid with a 1040 not a w-2. So we knew he was going to pwe taxes. Now we are having a real struggle with our bills. This year will be the 3... |
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 If I owe too much in taxes will the Gov. cut out one of my kidneys while I'm sleeping to pay it back?? |
Come on...you know this section is too serious... ;-)
Additional Details
Ms. Angel, dare i say best answer... (dare! dare!)
That's how I think the term Yankee was coined ... |
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 Would I or my father have to pay a gift tax if I give a $50,000 check to him from my savings? |
| The money was already taxed when I received it as income...does it get taxed again when I give it as a gift to my father?... |
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 Im confused i know there a lot of these but? |
| will i get my stimulus refund through direct deposit or paper check? because some people say if you filed turbo tax and had them take the filing fee out of your rebate you'll get a paper check ... |
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 How much will i get in this stimulis check? |
| i filed taxes for 2007 and made a bit under 30k and i am married with one child which is 17 months old how much money will i receive in this stimulis check? and when will i be receiving it?... |
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 How much will I get back on my income tax return? |
I made $17,272.14, and they withheld $1,953.32 on taxes. I am a unmarried Tennessee resident, filing alone. Approximately how much can I expect to get on my tax return?
Additional Details<... |
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 How long does a refund take? NOT THE STIMULUS CHECK? |
regular refund? we just filed regular no fast check thing.
we filed our return about april12. any idea how many weeks it should take? also no direct deposit.... |
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 What is a tax write off? |
| i was told if i donate my car it would be a tax write off. does that mean i get back the full value of the car when i file taxes this year?... |
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 Why should we pay taxes? |
| Is there any legal way to stop paying taxes? Besides it is voluntary compliance.... |
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 Will my $600 tax rebate be direct deposited? |
| The $600 tax rebate that will go to most beginning in May, will mine be direct deposited since I had my tax refund deposited? The reason I ask is because I'm moving end of April or beginning of ... |
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 Last two of your SSN? Have you received your stimulus check? |
| I dont even know if thats something people feel comfortable giving but i thought id give it a try. :) Just thought id be fun to see how far along they are (even though i am aware of the official ... |
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 Why does my solicitor need my national insurance number when im buying a house? |
Additional Details
The reason i am asking is i have just come off aprentaship 0f the past 7 years I know its a long time but i have been an improer for the past 5 years therefore not ... |
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 Is it necessary to get new tax software every year? |
| I have TurboTax from last year and wanted to know if I need to buy the new one or will the old one still do the trick?... |
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yup y | Im confused on taxes help im just a kid!? |
okay i dont want to end up hanging from some cage in an IRS office. I made some money last year, put i was almost paid in cash or personal checks. also more importantly i want to start trading on sharebuilder. how do i report all this and avoid getting in trouble? i only have 300 to my name right now, btw im 19 |
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Judy1
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It depends on how much "some money last year" is. If it totalled under $400, then you don't have to do anything, and don't owe anything. If more than that, you should be reporting it and paying taxes.
BTW, you're not exactly "a kid" any more at 19, although you might be new to paying taxes. I assume that you're either in school full time, or have a steady job by now since you're talking about investing.
If you're talking about investing very small amounts on sharebuilder, read their section carefully on their fees. With small investments, you could get eaten alive by fees. |
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angella t
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depends on how much you made and taxes you paid. can someone else claim you as a dependant or do you live alone? if your just a kid and didn't make more than 4,000 and someone else can claim you and provide 80% of your welfare and you live at home with your folks than you are still just a kid and shouldn't be required to file taxes. especially if you didn't make over a certain amount for the year. no worries if any of this is true. |
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hirebookkeeper
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How much did you make that will be reported to the IRS in the form of a 1099 or a W-2, that is the key. Wait until Feb 28 and see what income forms you get from people that paid you. You probably wont even have to pay taxes or do a return if you didnt make much. |
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May I help You?
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a kid is not 19.
www. irs.gov
All forms & instructions - also some are at your local post office.
You won't like my answers - as you must pay taxes on all of your income.
GOD bless.
CPA-retired |
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skip
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Did you get a paystub showing any deductions for taxes? By the tone of your question, I suspect not. You must add up all your income and declare that. You may have business expenses but you need to have kept records. I hope you have receipts for any expenses. Without knowing what you did it is hard to give any advice.
If you do not get a W-2 from anyone you worked for, you will have to pay Self-Employment Tax, which is 15.3% of business income less business expenses.
If you are going to start trading on Sharebuilder, it is essential that you keep excellent records. You need a hard copy. Do not rely on on any reports you can download from Sharebuilder. You will need to keep records of all purchases, sales, any dividends re-invested into additional shares and a note of all cash dividends received. I will not judge whether or not you should be undertaking such a venture, but if you only have $300 to your name, you might want to consider your other options. That is not really enough to start investing. At that rate, you can only afford to buy one stock at a time. If it tanks, you lose all you have.
As one other person has said, now is the time to educate yourself about the tax system. You will need to complete a Schedule C for last year and if you do trade strocks you will need to complete a Schedule D this time next year. Start with the link below. if you start making money on stock trading please consider engaging a CPA or Enrolled Agent. |
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Krystina P
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Did you make hundreds or thousands? I would not even bother filing if you didnt set any money aside to pay taxes. The IRS wont bother auditting you for a few hundred dollars because it costs thousands to audit someone. |
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mJc
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At 19, you're no longer a kid. And you should be making a lot more than $300/year! In any case, you aren't going to owe any taxes but go the IRS website and start figuring out the tax structure. This shouldn't be too hard for you to do (I hope). |
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xo24
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try getting turbo tax or do the h&r block tax course |
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Vehement
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hope you like wearing stripes. |
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