 Work-related tax deductions? |
| if i purchased work equipment on credit, at what point can i claim the deduction for my taxes? based on purchase date or payoff date? also, i have been told that a stolen automobile is deductible. is ... |
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 Is it legal for a person to state in their will that taxes expense, bill etc be paid before assets distributed |
I am named executor and will states assets divided on a percentage basis after taxes etc paid.
One heir, a registered charity, claims they should get their percentage share before taxes. I know ... |
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 W-2 taxes..plz help? |
| I am a student with a pell grant. I work at a small family owned business. Whatever money we make, I am paid with. I live with my husband and his sister and we share our money from our pay at the ... |
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 What can I do about someone else claiming my son on their taxes? |
| My son only lived with my mother for 3 weeks before December 31 2007. She did not support him at all in 2007. She claimed him along with my step father on their taxes and recieved $2000.00. What can I... |
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 What is limit of money for income tax in fix deposit? |
| how many amount we can deposite in the fix deposit for tax ... |
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 How much charity can be written off on taxes? |
Is there a maximum set amount for everyone or is a percentage or are there different amounts for different tax brackets?
Serious answers only please, and if you have a link to back it up, ... |
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 Is there any way to claim my boyfriend on my taxes if he has not worked all year? |
| My boyfriend and I have been living together for about a year now and he has not been working. Is there any way to claim him on my taxes. I know this is often a hard subject to deal with tax wise ... |
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 Does anyone know what to file if your husband is in prison on your taxes? |
| MY HUSBAND HAS BEEN IN PRISON SINCE THE END OF JANUARY, USUALLY I WOULD FILE JOINT BUT NOW I'M NOT SURE, DO I FILE SINGLE OR MARRIED????... |
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 Can a dedt collecter,take payments from your paycheck? |
the collector is HSBC/TAX.
my loan was for 500.00,she also said if i don't pay it soon(which i am trying) that after fees it will be 1600.00,
can they up it that much?... |
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 My employer has issued me a 1099 instead of a w2? |
| Although I knew my employer was not withholding taxes from my checks I knew that I would have to pay at end of year and have prepared for it. But then I got a 1099, in all the information that I ... |
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 Is this true? |
| Someone told me that those (famous) people who donate money to charity do it (mainly) because by donating a certain amount of the money they make precludes them of having to pay as much income taxes. ... |
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| What happens to all the money collected by the IRS? |
| Please explain where the money goes after the IRS takes our tax money, interest, fees, etc. I'm really curious.... |
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 I e-filed my taxes using TurboTax.? |
| I need to print the form I need to sign and mail to get my state and federal return (Form 8543-OL), but my computer doesn't have a printer. I want to save the forms to my thumb drive and print ... |
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 Did you receive your stimulus check yet? |
| It's June 3rd, and my last 2 are 18.. Haven't received my check, has anyone else?... |
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 Turbo tax question..im married but my wife did not work in the whole year of 2007? |
| my wife did not work for the whole year in 2007. I dont know if I should file married joint? or married filing separate? can anyone help me asap. ... |
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Zee99 | Inland Revenue possible investigation? |
If you have a company and you have paid all the taxes and you then pay yourself a dividend. Out of which you buy an asset, can the revenue take that away from you if they later find out that you need to pay extra taxes? |
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achrimsdale
|
If they later assess you for taxes you have to pay, they don't really care where you get the money from
. |
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David T
 |
If the debt is against a limited company , then the Revenue can only levy agaisnt assets that belong to the limited company.
If the debt is against you either as a partnership then the Revenue can levy against those items that belong to the partnership.
If the debt is against you as a sole trader, then all your asessts or up for a levy. It will be up to you to prove that the asessets are not yours not the other way round.
So if you have for instance just bought yourself a brand new car, and that car is in your name, if the debt is on a limited company the Revenue can not touch it. If the company is a partnership the Revenue can not touch it. If the company is a sole trader ie in your name and not limited then that car is up for seizure. |
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notmarriednochildren
 |
If you have extracted value from your company (not put sales through the books and then takent the cash - or put through private expenses again income and not credited your loan account then) and you do not agree to a 'joint and several offer' under a contract settlement - HMRC can look to raise income tax assessments and national insurance contribution directions upon the company directors and you would then be personally liable.
Many close company directors think that winding a company up is a good way to avoid CT, however they often get stung if they have used it as a mechanism to avoid personal taxation.
As long as you are honest act within company law and the taxes acts then you will have nothing to worry about. |
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RM
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They just want the money, and will usually offer you an installment plan at a huge rate of interest - you could be better off taking out a loan. |
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Debs
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Who has not paid taxes, you personally or the limited company? If it is you, then they want cash not assets but if you have no cash they may get a court order and then a bailiff can take any assets. The same applies to the company, they will get a bailiff to seize any of the companies assets. If its the company the they can't touch you personally unless you are a director who has acted fraudulently, in which case they have to prove the fraud. |
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Davy B
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Do not forget though that there is an amnesty at present and you might qualify in that case to "only" get a 10% penalty.
david T is wrong however to say that if the debt is on a partnership they can not touch you. There is "joint and several liability" which means that they can go after all or any of the parners for debt regardless of whetther that partner casued it! |
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Onestep downfrom God
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If the company (assuming it's limited) has paid all due taxes, and the investigation results in further taxes, then HMRC can only chase the company for the taxes due. However, if you have committed fraud, or have not complied with every crossed t or dotted i, then you may well be liable. All assets are up for grabs, no matter what form they take. |
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ANF
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As long as you pay up the money they are not concerned where it comes from. If you do not have the money then you will need to sell that asset in order to pay them off. If you hide that asset and say you cannot pay them and they find that asset then they will seize it and you will have nothing. |
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Mrs.Doyle
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They are merciless ba--ards.
Trust me on this one.
They don't care how you do it, they just want their dues. Fair means or foul.
If that means selling your assets, then they won't care.
You will have to cough up.
They cannot be fooled.
Get a lawyer if you think you can get away with it, to show you any loopholes. Not that there are many these days. |
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