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 Who thinks Inheritance Tax is wrong. We all pay Tax throughout our life, so why pay more when we are Dead!!!?
...


 If your gross monthly pay is £1107?
Is it right to be paying £200 in Tax and National Insurance?

On a 525L tax code?
Additional Details
It shocked me when I saw my other half's payslip and saw what they ...


 Irs reference number 9001?
my federal taxed were accepted on 1/14/08 and they gave me a dd date of the 25th. today i checked on the irs website and it says that they have no info on my refund and that i could call and use ...


 How many years do you pay into a pension for?
...


 Can i claim back my bank charges?
i have just opened a new bank account as my old bank have been charging me each week as i went overdrawn. it resu[lted in being charged around 200 a month. I closed this account the other day and ...


 What should I do if I realized I did my taxes wrong?
I forgot to include some money I made when I did my taxes. They took out a lot of tax on what I made and I think I should get more money back. I believe the mistake would give me a bigger return if I ...


 Tax Question sensible answers please?
I have been given my pay slip for this month and have worked 20 hours. in this i have paid £20 tax. the total of my pay was £90 before tax. is this amount of tax correct?
Additional Details


 How much is 25000 pounds UK money in the U.S.?
I was looking at a UK website and need to know the the difference in the money....


 I am 23 and got married in January 2007. For 2006 tax filing do I file Single or Married filing jointly?
I am 23 full time student who just got married in January 2007. The two questions I have for 2006 IRS Tax Filing are:

1. Do I file as Single (for yr 2006) or as Married filing jointly (K...


 My boyfriend and I have been living off my income for the entire year of 2006. Can I claim him as a dependant?
Last year when I did my 2005 taxes the agent asked me if I paid for the expenses of another person and I told her no, because at the time I wasn't. but for '06 My income has supported the ...


 Is this tax deducatble???
Hello, for the past year I've been supporting my friend who has been out of work and has never filed taxes because he didn't work a day in his stinking life! Anyhow, I was wondering if I ...


 My daughter's ex claimed their daughter on his tax return. She has had full physical custody of her since Feb.
He has paid no child support. Even though there is an order for it. When she tried to file her tax return; it was rejected. The notice said it was a duplicate. She has insurrmountable proof that she ...


 If im off work on the sick am i still entitled to my holiday pay?
i injured my back at work and have been off for nearly 10 months am i still entitled to my holiday pay?...


 IRS stimulus check...?
I have posted on here before regarding the same question however I still have not received my check. Please do not post the schedule or website again, both say it was to be sent by the 11th. I didn&...


 What is the best way to send money abroad to a Pakistani bank account from within the UK?
I could take the money with me when I fly to Pakistan, but a) it's a bit risky travelling with such a large amount of money. Secondly, if I were to take 30,000 GBP with me through the Airport ...


 Is the Tax system fair?
Income Tax, Sales Tax, Property Tax. We all pay taxes and wish they were lower but do you think that the current system is fair to all tax payers? Could taxes be lowered if the USA did not waste ...


 What should I claim on taxes?
My husband and I have no children. It is just us two in the household. We both work full-time jobs. Should we both claim 1 on our dependants at work (claiming ourselves) or should we claim 0 since ...


 How much is tax on a small car (UK)?
How much is a normal amount of tax payed on a small car worth about £1200-£1500 roughly.
does it depend on the car itself, the value, the price payed or what?
Additional Details
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 What is the Statute of Limitations for the IRS to collect taxes from you?
Isn't it 7 years? If not please inform me. That's standard 1040 taxes that is. How long do they have before they run out of time legally?...


 Is this a scam?
allright so i got this letter today with a check for 4750.00. Check is definetly real it states in letter that i won a sweepstakes draw and im entitled to 475,000. paid to me by certified check, and ...



Drake
Should Child support help me out on my taxes?
I do not claim the child as a dependant, but should I still see some kind of benefit when I file my taxes? I gave this info to my accountant and he told me that It wouln't do any benefit for me. I was puzzled...So can someone help me!
                     
 




vixen52271
Your accountant is correct. There is no credit/deduction for you for the child support you have paid. Furthermore, this is non-taxable income to the recipient who will most likely be claiming the child as a dependent.


Peggy K
Nope. Child support is not deductible. Alimony is, though. go figure. Tough luck. wish I had better news.


Mel
Child support does not get you a tax deduction, in the same way that receiving child support is not deemed taxable income. The common deductions you can receive for children are if you are paying child care directly to a licensed child care provider, and of course if you are claiming the child as your dependent.


Chris P
Sorry dude, you can't file child support as a deduction. I know real screwed up!!!


z28_zeppelin
Would you deduct it if the child lived with you? NO Its not deductible.

Alimony is deductible, but the ex has to pick it up as income.


Yvette B yvetteb
Rating
child support is not taxable nor deductable... for either party. here are the links you need for all of that info:

CHILD SUPPORT CALCULATORS
http://www.divorcelawinfo.com/calculators.htm
http://www.alllaw.com/calculators/childsupport/
http://www.helpyourselfdivorce.com/child-support-calculators.html

TAX INFO
http://www.taxsites.com/index.htm
http://www.divorceinfo.com/taxes.htm
http://www.irs.gov/taxtopics/tc354.html
http://www.irs.gov/taxtopics/tc422.html
http://www.irs.gov/faqs/faq4-5.html
http://www.irs.gov/localcontacts/index.html
http://www.irs.gov/advocate/index.html
http://www.irs.gov/publications/p525/index.html

http://www.fms.treas.gov/faq/offsets_childsupport.html
http://www.irs.gov/publications/p504/ar02.html#d0e563
http://money.cnn.com/2007/02/14/pf/taxes/do_not_miss_tax_breaks/index.htm?postversion=2007021411


RIPPED
Paying child support has no benefit.I have been paying for 8 years and have never been able to put him down as a dependent.Sorry,but there is nothing you can do!Good luck


OPM
No, it doesn't. There are two competing standards at work here. First, if you provide 51% of the financial support for someone then you can claim them as a deduction UNLESS and this is the competing standard a court grants the deduction to a particular person.

Child support is just an ordinary expense, like clothing or food for yourself. The tax code does not consider it a reduction in salary. Alimony is because it is a reduction in salary. An ex-spouse receives alimony to compensate from the equivalent lost wages that were implicitly paid for taking care of the home. That spouse is effectively an employee whose job was to care for the home.


Judy1
Child support, whether you're paying it or receiving it, has no effect on your taxes.


kmf77
Rating
I think that you have to claim it on your taxes, but I do not think that it does help you. The only thing that does, is child tax credits, and earned income credit. You have to claim a child to get these. You may want to check again, though.


Chadwick
If you claim a dependant you will get more in your pay check, but you will have to pay more or get less back in your tax return.


donna_honeycutt47
Rating
I have always heard that Yes if you pay Child Support you can claim what you have paid in. You cannot claim the Child as a dependant if the Mother has Primary Custody and claiming him also.


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