 Is tax evil? |
| Everyone at work is struggling to cope financially and a few don't get proper food or clothing. We all work hard for 40 hours, but we're on NMW which barely allows people to surivive. P... |
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 We hit AMT this year because WE PAID TOO much in taxes. Does that make sense? |
Just did our taxes and we owe an extra $2K in AMT. Our ONLY itemized deductions are our State and City (NYC) taxes.
AMT was developed to make sure that the "rich" pay enough in ... |
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 How does one go about stoping your employer from taking out FICA taxes? |
Additional Details
Maybe I should rephrase the question and ask...where do I found out how to become exempt from paying FICA -how do I qualify?... |
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 Whether we can file Married Jointly or Seperately? |
| My wife and I were married December 2006- for the 2006 Taxes can we file Jointly or do we have to file seperately being that the marriage occurred so late in the year?... |
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 Can I go to jail???Help me? |
| If I signed my ex's name on our taxes. He refuses to talk to me about anything and he was not working much. Our divorce was final 2008 so I filed married on our taxes and signed his name. Please ... |
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 Am I required to give my social security number to a new employer? |
I'm being offered a job, but the company is not very well known, and I'm not sure if it's legit just because of all the scams out there.
They sent me a contract and tax ... |
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 What do i do if i didnt file my taxes last year? |
| I didnt file my taxes last year and i was expecting money back. Do I have to jump through hoops to get my money, or should i just forget about it? What forms do I need, etc....? Can I efile, or does ... |
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 Stimulus rebate ? Ok someone please help I have a head ache? |
Ok, I have been reading, that if you used HR & TubroTax or something like it you will have to wait for a paper check.
However I filled on line with TubroTax and my monies were direct ... |
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 As a business owner, is the drive to and from work tax deductible? |
| I was trying to figure out if you can take the standard mileage deduction. I seem to see different opinions about this.... |
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 Is everybody wealthy on this site? |
| I make a statement about the state of Florida wanting to lower property taxes and raising sale taxes.And so far only got 1 answer. Do all of you own million dollar home so when property taxes are ... |
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 Received my Stimulus payment letter and says I will only receive $900 for me and my daughter but not for my? |
| Wife. It says " If the net income tax liability on my '07 tax return is less then $600 and had $3000 or more in qualifying income the amount is $600." Does this have anything to do ... |
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 Sales tax on a new car - determined by where I bought the car or where I live? |
| In my state, sales tax on new cars varies by county. I bought a new car in a county with 7% sales tax but I live in a county with 5.5% sales tax. Is my sales tax rate determined by where I bought ... |
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 I'm a stripper/dancer. How much of my tips do I have to report? |
The answers i am getting at the club are all over the place. I have been in trouble w/ the IRS before and I don't want that again! I can't afford an accountant.
Any accountant types ... |
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 If I make 40k a years how much I'll pay in taxes? |
I'll be working as a nanny, and I'll be paid $800 a week each is between 40,000 to 41,000 a year.
As a nanny do I pay all the taxes or the employe have to pay pert of my taxes to?
... |
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 I have just been signed off for 4weeks by my DR.? |
| I only have 5 days payed sick pay due from work,i know i will get stat sick pay ÂŁ70.05 per week,but can i claim for anything else as stat pay wont cover rent etc..anyone know of a website i could ... |
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 What documentation do I need for a 2K gambling loss in Vegas this year? |
I have the copy of the check that I got from work that I cashed in at one of those 24hour Vegas check cashing places -- which I completely lost every cent of.
I made a journal note in my ... |
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sparky | Is a VAT inspection something to be scared of? |
Are VAT inspectors as bad as I hear? Are they human? Can they close down your business and seize your goods and chatels? They want to come and inspect my books. |
 |
 
Jim
 |
You should not be scared of an inspection as long as:
a)you have not done anything fraudulent; and
b)you have not done anything innocently wrong.
In regards to b), many small businesses can get into problems with the VAT man as they do not really understand the complexities of the system. If you have checked up on the rules and regs and reporting requirements then you hopefully would be fine. Also don’t necessarily rely on the words of an accountant as VAT is not normally one of their favourite areas.
If the taxman does find a problem he will normally try and point you in the right direction and show you where you are going wrong. If VAT is due to HMRC he will raise an assessment, however, he/she will also advise any area where you maybe able to recover VAT.
Top tips:
Be civil and courteous to the inspector.
Be prepared and make his life easier, have everything in an ordered manner.
Put him in a comfortable room and keep him refreshed. |
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mehboobahmad
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Yes. The taxman cometh. |
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~Lez~
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vat inspectors are human lol..if you have a clear concience and have a good book-keeping system, properly documented then you have nothing to fear |
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Andy C
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Only if yr dodgy. |
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Flick W
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Not nearly as bad as in the past.
There is now legislation that forces VAT inspectors to try to help small businesses rather than impose penalties. Be honest, show them your back up figures and all should be well.
Most businesses have a VAT inspection every 6 years or so - probably just a routine one. |
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steve
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After having had several VAT inspections and coming through relatively clean, I have one major suggestion to make. VAT Inpectors will go through your books until they find at least one mistake.
I have always given them something glaringly obvious to pull me up on (albeit very minor) and use this to talk about other aspects of VAT which detracts them slightly from my own books.
Make sure you give them copious cups of tea/coffee but don't be too obsequious or they might see through you.
Just be civil and honest - they're only doing a job.
Start getting shitty with them and boy, have you got a problem!! |
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wild_eep
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No but it is something to prepare for. Make sure that when he says "could you show me the receipt for this transaction here for two pounds seventy nine at Reading service station on the 11th of April" you can pull out the damn receipt. If it's hollow when he taps it, he will crack it open. Co-operate fully; he may give you plenty of useful advice if he decides you're basically your average legit-but-confused punter who makes the odd very minor mistake. But don't expect mastermind to show up. |
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Burnsie
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Depends. Do you claim VAT back on non-business-related expenses? |
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jack
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If you have done nothing worng, then you have nothing to fear.....but if you have cooked the books, then.....opps! |
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pkeoghsw15
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Be afraid.
Be very afraid. Lol |
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