 Can i claim my live in girlfriends daughter on my taxes, federal and CA. state? and is she a child dependant? |
| on last years taxes i was told i couldn't claim my girlfriends daughter 15 yrs old because she wasn't a legal relative of mine. but now she not only is my girlfriends daughter but she is ... |
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 Can 2 people claim a house on their income taxes if they are not married but joint owners? |
| My friend and I bought a house this year. Now I am stumped as to what to do for income tax time. Can both of us file for the house on our income taxes or just one of us? What about the ... |
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 When married and filing taxes, what is the difference between filling married but seperate or filing injured? |
| My husband and I got married in August, that's less than six months before tax time. because we got married so late in the year should we file married but separate or married and jointly? Or ... |
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 If somebody has not filed IT return for the last year till now, is it possible to file the same now? |
There is no tax to be deposited, all the tax has already been deposited as TDS.
Any specific things to be taken care of while filing a late return?... |
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 Have you used turbo tax befor to do your taxes? |
| how wast he experience? did they charge you what they say they will charge? were you able to get the refund they said theyw ould send you? would you file taxes with turbo tax agian? i'm ... |
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 Please help with my tax filing issue!? |
Ok, so I figure I'm already screwed and on the verge of a heart attack, lol but here's my situation.
I worked this year from April-current claiming only myself until early July ... |
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 Does anyone have a million dollars that they would like to donate to me and my family? |
Additional Details
It would be used to get the proper stairs built so no more people fall going out of my house.Helping us to bring up the value on this house by making improvements and ... |
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 Am I able to claim at least one of my children on my income taxes? |
| My ex-wife and I have been separated for over two year. Before we seperated we had an agreement drawn up that stated that we would each claim one of the children on our taxes. However, she never ... |
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 How many people out there are upset, or outraged by the increase in GASOLINE PRICES? |
| I live in New York and contrary to news reports, the average price for 87% octane gas is $3.15 a gallon. It should be noted that New Jersey is on average 42 cents a gallon lower than New York. The ... |
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 Rs to $ anybody? |
Sending $ to Inida is easy. I want to know if anybody has done Rs to $ conversion before and how easy or difficult is it?
What is the best procedure?... |
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 What can i do? about someone filling my children on there taxes?? |
| a member of my family has obtained photo copys of my childrens social security cards, this person makes it a point to file them with out my permission and then denies that they have filled my ... |
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 Why are so many people questioning the Tax we contribute? |
People are forever moaning about their tax bill, but still expect all the services to be improved after they pay less. You cant have it both ways, No tax = no services. Which would you rather?
A... |
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 Can I file my taxes as head of household, or am I to file single? |
| I am a 22 year old man living in an apartment with my fiancee and her 3 year old daughter. My fiancee pays only 1/4 of the total bills for maintaining the household... Am I able to file as HOH? Or am ... |
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Im2hard2please | Is money deposited in a 401k plan tax exempt? |
My wife started making regular deposits in a 401k plan offered by her new employer in 2006.
Question: Is the money she invested in the 401k Plan tax deductible in 2006? In other words, do these contributions count as taxable income....or are they tax exempt?
If contributions to 401k plans are tax deductible, is there a limit to what we can claim on our federal income tax form each year if we file a joint return? |
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Pearl
 |
The money in my 401k is tax exempt until I get it out. I think they will take about 15% when you get it and if you aren't a certain age they take another 10% at income tax time. I'm not great on these things so I hope someone can help you more. |
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jseah114
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It is not tax exempt. Tax exempt means that you never pay taxes on it. It is tax deferred, which means you don't pay taxes on the money now, but you wil pay taxes on it later. |
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ninasgramma
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Your wife's 401k contributions were made before taxes.
There will be no deduction you take from taxable wages since the contribution has already been subtracted by the employer.
These contributions are not tax exempt. When the money is withdrawn, taxes will be due. They are tax deferred.
There are limits to 401k contributions but they are handled by the employer and are not a consideration when you do your taxes. Limits to a 401k plan are not affected by filing status or marital status.
Your wife can consult her HR department to see if an an increase in contributions is allowed. |
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Quest
 |
Is already deferred automatically - should be on your pay stubs. You don't have to do anything. The more you put in, the more you can defer the taxes. IRAs are like savings accounts and they are after tax. Either scenario - you do nothing on your tax form. Is already deducted on your W-2 (end of year statement) which you attach a copy of to your completed tax form. For future, do know that early withdrawal (cannot do unless you have a certain amount invested; can make a loan but not advisable) has a 10% penalty (only waived after age 59 &1/2 ) + 20% tax and you then have to declare that as income on your tax form. Joint return is usually the best option for filing, over individual. |
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weemspena
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Yes and Yes. Yes they are tax exempt but there is a limit to how tax exempt they are - I can't say the exact percentage you will have to check with your local tax adviser. |
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Scott K
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tax deferred is what they are. her employer will automatically remove the contributions from her wages when computing her withholding. When she starts taking the money out, they are subject to tax and/or penalties. |
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GoodTimesMakingMoney
 |
Any contribution made from income earned in 2006 to a 401k is deductible, up to the limit of $15,000 per individual per year (over 50? you get a catch-up contribution of $5000). Regular 401ks are not tax exempt, you have to pay taxes on earnings and contributions when you take it out.
Also, you may want to look into placing some of the money into the Roth Portion of 401ks (after tax money so no deduction today, but no taxes on earnings when you withdraw). |
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peachiepie
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Hey, AIN'T THAT THE REASON FOR A KO1 PLAN
DAAH??? |
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Jan C
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Money invested into a 401K plan is not taxed by the Government and your employer does not withhold any taxes on it when it is put into the account. When you withdraw from the plan, it is considered income and therefore, you pay taxes on it. There are great penalties for early withdrawal, so make sure you understand the particular ins and outs before taking money out. 401 K plans are primarily for retirement and there are sometimes other reasons to withdraw, but seldom without penalties. |
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