 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 ... |
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 If u make any courier is they will charge service tax or not? |
if u make any courier, they will charge such as Rs.30, 40 or 80
is the service tax will be included in the amount or ... |
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 Can I claim our daughter? |
| I have no idea how this works or what's best. The thing is my husband and I both work and we earn pretty ok money.. he says I should tell the payroll dept i want to claim our baby as dependent ... |
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 Does unemployment usually send a w-2 if you had taxes withheld???? |
| okay its almost the 31st and still no w-2 from unemployment, they do send one out right????? i had taxes ... |
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 2006 child tax credit? |
| Can you make too much money to even claim the Child Tax Credit for the year 2006? If so what is the amount?? Thanks,... |
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 What is the difference between w-2 forms and your federal income tax return? |
Additional Details
well I told my parent that I need the tax return and she said same thing but i think she was parranoid for me asking her for ... |
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 Duty Free when flying within UK? |
| Hi how many cigarettes can you buy if you are travelling from one UK airport to another?... |
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 Defaulted loan and tax return? |
| My husband and I are filing our tax returns separately. I have a student loan that is in default. Can my husbands refund be taken by the IRS because of my loan. This is our first year being ... |
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 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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chumpkin g | Is my employer committing Tax Fraud? |
Im in the UK I work for a company that pay cash in hand I worked there for 3 months and all they took was national insurance then suddenly i started paying tax. Im suspicious cos I was paying tax in the job i had before and dont know why i wouldnt be paying anything there for so long I reckon there suspicious but wanna be sure before i tell anyone. Thanks! |
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spike24601
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It is possible for you not to pay tax then start paying tax, such is PAYE (though it should make you pay the same each month).
Forget your employer, I'm worried for you. If HMRC come after you 'my boss didn't take any tax' isn't a valid excuse. Your employer might get in trouble for PAYE issues but you will be penalised for tax evasion (as they would argue that you knew you owed tax).
Ring HMRC annonomously and talk it through, they will give you proper advice based on your income and tell you how to remedy it. They will also put you onto people who can deal with your employer if need be. |
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Curious Steve
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Sounds dodgy, have you proper pay statements, if not then they are breaking the law. |
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Andrew C
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sounds suspicious, but what would you gain from reporting it?
the important thing from your point is the NI was paid. |
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steffi
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I don't have enough information on here to give you a definitive answer. One poster put the wrong Personal Allowance on here, it should be £5225, going up to £5435 in April.
A lot depends on whether you gave your employer your previous form P45, and he used the information thereon. You will get a form P60 from your employer after the 5th April. Check to see if that shows previous employment figures. At any time, you can call in at any tax office with whatever documentation you have, payslips, form P45/1a, P60, and your position will be reviewed. |
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katt121
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It depends - if you had no job before then you may be using up you personal allowance in the year. This may be the case if you did not give them your P45 from your old job (which is wrong). If this is not the case then it will all come out when they do your P60 and then you may be hit with a large tax bill. Either way it doesn't sound quite right to me. |
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Graham H
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Firstly I can't imagine why you would want to report your employer for not deducting enough from your pay?
If they were deducting NI then they are apparently accounting to the Inland Revenue because NI and PAYE are both dealt with by the Inland revenue, both refer to your NI number so your company has been making deduction sheets out for you.
Regarding the tax. Often when people move from one job to another their P45 is either incomplete or they haven't even got one. If your last job was your first job there would be no P45 anyway. In those cases the usual thing is to put you on Emergency Tax Code which usually takes too much out of your pay because it doesn not allow for your tax allowances which are in your tax code.
When the company get your new tax code from the tax ofice there is usually a tax rebate of the overpayment.
In your case perhaps your former employer either used emergency tax code or deducted too much tax for some other reason. In that case your new employer would find nothing to deduct on his deduction sheets from the inland revenue until what you owe caught up with what you already paid by deductions by your previous employer.
Rather than guessing, why not just ask your employers wages department why you did not start paying tax at first. |
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Danny
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Maybe they are. It certainly sounds strange.
But it depends on a number of factors. Why don't you just have a chat to your boss. |
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welcome news
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A lot depends on when you started work.
Each person has a personal allowance of £5250 and this means that each month you have an amount of free-pay of £437.50.
If your total earnings since April 6th 2007 come to less than the freepay equivalent then you won't be paying any tax. Assuming you are earning more than £437.50 a month then I suspect that your earnings for this tax year have now exceeded the free-pay allowance.
January was month 10 so if you have earned more than £4375.00 (before NI deductions) then tax is due (10% on 1st £2330, 22% on amount above) |
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timo
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you dont have to collect tax until after three months cause you are on probation |
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