 Paying Taxes on Stocks??? |
| Sold my Stocks and there were taxes already taken from them. I want to know if I have to pay again when I file taxes for this year (2008)...... |
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 What do I have to do to start paying tax on the interest on my bank accounts? |
| When I stayed at home to look after my kids, and therefore didn't pay tax, I didn't have to pay tax on the interest I earned on my current and savings accounts. I have now gone back to work.... |
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| How much tax do you have to pay on money you recieved as a gift.? |
| I know you can give someone up to $10,000 a year as a gift. But how much if you gave $150,000? Would it be considered income an the standard income taxes apply, or are the taxes different on large ... |
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 Do i have to pay taxes? |
if i work full time and go to school full time? is that a law.? or is it just the employers choice to do that?
Additional Details
i live in ... |
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 Fuel tax in the UK? |
| Why no one protest anymore about excessive 80p in £ tax imposed by our goverment and then increse the duties in Mr.Gordon Browns' recent budget .... |
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 I have a Tax question? |
| I was having a discussion with somebody about state taxes and I was trying to figure out how they are calculated. Let's say, hypothetically, I lived in California for most of the year and make ... |
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 If you have garnishments does that mean your tax refund will be taken? |
If you have garnishments placed on your check which are taken out twice monthly, does that mean when income tax time runs around that they will also take your refund?
Additional Details
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 Is there any coupons regarding TurboTax Federal & Software..........? |
Is there any coupons regarding for tax & Software..........
that i can use........ |
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 I received a 1099 after filing my taxes. Can I pay taxes on the 1099 seperately from my return? |
| The 1099 came from consulting work I done on the side. It was about $5,000, which was substancially more than I remembered, but it's correct. I would rather just send a check for the percentage ... |
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 Would married couples get two 600 rebates? |
| I am married and i was wondering if my Husband and I would get two 600 tax rebates if we filed taxes as married. Would we get one 600 check for each of us or just one?Would we both get the check if ... |
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 Should I pay taxes if I am a full-time student working part-time from home? |
Hi,
I am now a full-time postgraduate student, I was working during the summer and my employer was paying my NI and taxes.
Now the university is paying me a scholarship that ... |
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 Why don't they increase taxes on beer like they do on cigarettes? |
I’m not a smoker or anything, but I feel that they reasons they give for raising taxes on cigarettes would work on beer.
Examples:
It would stop kids from developing bad habits.<... |
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gamoo2 | Sould I pay my wife's 401 loan with my 401 to prevent taxes and fines? |
my wife just got laid off. She has a 401 loan around $6500 should I pay it off with my 401 to avoid taxes?
Additional Details
my wife just got laid off. She has a 401 loan around $6500 should I pay it off with a loan from my 401 to avoid taxes? |
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rcdrury
 |
Absolutely. Assuming she's not yet age 59.5, she'll pay ordinary income tax plus a 10% penalty. If for some reason you're unable to do this, she can raise as much of the cash as possible and open an IRA for TY2008 any time prior to filing her taxes. She will recoup any taxes and penalties on that amount in her tax refund.
Of course, I'm assuming that you are intending to take a loan from yours; rather than a distribution.
. |
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Wayne Z
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Companies can control what they let you borrow money from your 401k for.
Your company may not let you borrow money for that purpose. If you just cash your out, you would be looking at penalties and taxes on yours now. |
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v b
 |
Doing so won't solve your problem.
If the money isn't paid back, it's considered a distribution. If you try to pay this off with money from your 401K (say with a hardship distribution), you just move the issue to YOUR SSN. If you are also younger than 59.5, it won't change the bill. |
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src50
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Then you are triggering a "taxable event" on YOUR 401(k). |
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Gem
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Is she permanently laid off, or is it just considered temporary? (is there a chance if the economy recovers that she will get her job back?)
If temporary, she can continue to make payments and until the day the 401k company contacts her and states that it is being switched from loan to distribution, this isn't an issue yet.
I have two employees with 401k loans, both are now laid off. As long as they make up their missed payments by the end of the month following the next quarter (laid off in December, Decembers payments have to be made up by April, payments missed for January, by July), nothing happens.
Good luck |
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Judy1
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If you do that by taking a loan from your 401K, and you pay your loan off on schedule, you'd be OK. |
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Prophet 1102
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So how do you plan to avoid the taxes if you take it out of your 401K - that's not considered a rollover.
Your best bet is to
1) take a personal loan and pay your taxes
2) pay what you can, then do installment payments on the remaining tax you can't pay. |
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Caylee L
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right now 401 is worth nothing
youll lose money |
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