 Uk national lottery is realy registered by uk goverment? |
this company ask me that i have won lottery and they get 2000000
email from 40000 diffrent companies is it realy?... |
|
 How to know if i owe money to the IRS? |
| years ago i owed $600 to the Irs but for the past years i been resiving income from my taxes,is it possible that they allready deducted the $600 from my taxes, or is there a website or a number to ... |
|
 Can Bush's tax rebate be garnished? |
| If a person has their yearly federal tax refund garnished for child support arrearages, will his tax rebate also qualify for garnishment? They are both drawn on the same treasury accounts and based ... |
|
 IRS audit... is my tax preparer liable? |
| We've used the same tax preparer for many years. Nothing fancy, one of the big name franchise's. Without any major deductions or audit flags we've been selected for an IRS audit. My ... |
|
 Do I claim this income as hobby or business? |
| I have done a little software development work on the side. I really enjoy writing software, and because I write less and less for my job, I feel enthusiastic about writing for pleasure, plus ... |
|
 Why did America drop the Atom bomb ? |
| With only 5 days left to the end of the second war why was it seen as neccessary to drop two atomic bombs on Japan ? weren't they going to surrender anyway ?... |
|
 Can I claim my girlfriend on w-4? |
| We've been living together for two years. we rent a house. She makes about $13,000 a year, and I make a little more. Can I put 2 dependents, myself and her, if she puts 0 dependents. Also can ... |
|
 Different between USPS and UPS? |
| I would like know what's the different between USPS and UPS?... |
|
 I have a question about my tax filing status...? |
| I got married about a year ago. I haven't changed my filing status yet to married. I want to know what will happen to my weekly check if I change it to married. Will it go up or down? Is it a ... |
|
 I KNOW THIS SOUNDS STUPID BUT HOW DO YOU FIGURE OUT THE TAX FOR a BILL.? |
| for example if my check came up to $17.45 how dou u figure the tax. i know that tax is 8.25 percent. so help me guys!... |
|
 Question about tax return! Please Help!? |
| Ok our 2006 tax return was 1800 dollars we made 40,500 dollars for the year we have two children and we clain zero through the year and we also pay an extra 25 dollars each per week towards taxes. We ... |
|
 Can you pls give me info on the date of the irs stimulus cks? |
| I was told we wld get our ck in our ckg acct-direct deposit by 5/16/08. Nothing yet. Any idea when we will get the ck?... |
|
 Anyone still not recieved stimulus check from May 16th mailing date? |
My hubbys last 2 are 07, the irs site says our check is scheduled to be mailed on 16 may 2008.
Today is Wednesday May 28th and still no check....????
I live in NY, anyone else not recieve ... |
|
 First time with Taxes! Help!? |
Do I have to file both state and federal? Under what conditions would someone only file state OR federal? Do you always file for both?
and if I owe to the federal, how do i pay them?... |
|
 No! No! No! SOB crap!!!!? |
| I DONT KNOW HOW MUCH ONE REP FROM THE IRS KNOW FROM THE OTHER. BUT THIS IS WHAT ONE LADY JUST NOW TOLD ME!!!!!!!!!!!!!!!!! SHE SAID THERE IS A GLITCH (A FREAKIN GLITCH) WITH THE TURBO TAX THING. SHE S... |
|
 If i earn £16000 ANNUM? |
HOW MUCH WILL BE TAXED ALLTOGETHER
AND i have a student loan as well [and it says if u start earning more than 15000 they start taking it back with ur nationalinsurance payments]
... |
|
|  |
tonyS | Just got offered a job, he is gonna pay me as a independent contractor. how do I pay taxes? |
I have always worked for an employer that has taxed me. Now I was offered a job that pays me as an independent contractor. How do I report the taxes? I am being paid 50k, ... do you think I could get away with reporting taxes for 30k instead? thanks |
 |
 
Huh?
|
At the end of the year your employer will report your income on a 1099 form so the IRS will know your income.
It is up to you to keep track of your tax liability and send the IRS a payment, usually quarterly. If you underestimate the tax you will have to pay in April. |
|
Judy1
|
You'd file a schedule C or C-EZ showing your income and any associated allowable expenses, and a schedule SE to calculate your self employment tax. The numbers from the bottom of the two schedules will go onto a form 1040 (not 1040EZ or 1040A) to calculate your total tax owed.
Reporting less than you are actually paid is tax evasion, and will get you in deep trouble when you get caught. And you most likely will get caught. |
|
Larry E
|
No because he is deducting the payment to you with the IRS. Usually you have to pay them every 4 months. You also have to pay social security and state taxes. Get a hold of a tax man and he can figure it out for you. The IRS really watches this kind of payments so be careful. |
|
Bob F
|
As an indep contractor, you will be paying estimated taxes quarterly, using Form 1040-ES. You have to estimate your yearly tax liability including both halves (employee and employer) of FICA and then send in 1/4th of that every quarter.
And I hope you are kidding about underreporting your income. Since your "employer" is paying you over $600, he will be sending you a 1099-MISC (instead of a W-2) and of course the IRS will get a copy as well. |
|
BELLE
|
I would only do this if you are very disciplined with saving money. You should file quarterly on your taxes if possible instead of end of the year. My hubby does contract labor work and we will always owe tax money till we die.Just remember you will have a huge tax bill at the end of the year. You pay higher taxes doing contract labor if you don't have a company you can incorporate. |
|
Steve
|
You will need to file a form 1040-ES for your estimated taxes. If you think that you are going to make $50K a year, then set aside 15% for Self-employment tax and another 15% for Federal Income tax. Also, set aside whatever your state tax rate is.
If you want better information, you can read IRS Publication 15 and the similar publication for the state that you live.
When you file your Federal Income Taxes, you will report your gross earnings on Schedule C along with any related deductions for expenses incurred with your job. Commuting doesn't count as a business expense. Read IRS Publication 334 to get a good idea of what you can write off as legitimate business expenses. |
|
ShannonW
 |
I wouldn't do that because he's going to report the amount he paid you to the IRS (as a deduction for his tax return), so in the event of an audit they could discover your underreporting.
But, as an independent contractor you will have all kinds of tax deductions (mileage, equipment, supplies, health insurance etc.) to offset what you make.
If you're not familiar with tax laws, I recommend one of two things. Either hire an accountant to do your taxes, or take the time to learn how to do it yourself. All the information you need is available on the internet, but you can plan to spend a lot of time to learn it all. I've been self employed for 5 years and have become good at doing my own taxes, but for some people it's not worth the hassle. |
|
SmokeyD
 |
You must save enough money to pay your taxes at year end. Check the state income tax rates on the state website for the state you live in (usually your state's name dot-gov), and for the federal tax rates for your pay scale (irs.gov). Your employer will send you a 1099 shortly after the end of the tax year (you usually get this after Jan. 31st). The government will already know how much you were paid because your employer will have to report his payroll expenses anyway.
You can't cheat Uncle Sam. Sorry. |
|
chenmosashi1
|
No you could not get away with it. You will get a form I believe it is the 1099 that you will use to report your earnings. That will determine what you OWE your employer will not be with holding anything so you will owe at the end of the year.
Your employer will also submit a form to the government that has the same information and a few other details for his taxes. If the numbers do not match they will charge you with tax evasion. Your best bet is to put away 20 or so percent of your checks into a savings account you will use that money to pay your owed taxes. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 34 minutes(s) ago
| | | |
9 | 47 minutes(s) ago
| | | |
9 | 3 hour(s) ago
| | | |
9 | 7 hour(s) ago
| | | |
9 | 11 hour(s) ago
| | | |
9 | 1 day(s) ago
| | | |
8 | 3 day(s) ago
| | | |
8 | 6 day(s) ago
| | | |
8 | 2 week(s) ago
| | | |
8 | 2 month(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
