 I have a tax question? |
| OK, last year, I had over $1,000 in church tithes. I gave it to the woman who did my taxes for last year, and she said the amount had to be $5,000 or more to be counted. My question is, can I count ... |
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 My yearly income is Rs-101160,Is my Salary is Taxable? |
| Actly company deduct TDS from my salary @ 10.33%,So how can i get back ?... |
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 Can two dwellings that share the same address both file head of household? |
| I bought a trailer home and had it put behind my parents house which is where i have been living for the past year. The problem is both myself and my mom files head of household. Is it possible for ... |
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 How much of gas price is taxes? |
I bet Bush Admin. made a lot of money last summer when gas was over $4/gal. I am just wondering how much they made.
It might be good way to help the economy.
Additional Details
W... |
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 Donate Cash to person with disability can be tax deduction? |
| I gave cash to someone with disability for him and his family over $2000. I don't have receipt, but he can write me a letter to proof that, can I still write this amount off???? any ... |
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 Where do you recommend getting taxes done through? |
| I have always done my taxes in the passed but, my fiance and I do craft shows and I made a lot of profit and have a lot of tax exempt stuff so I think it would be to much stress. I am going to get my ... |
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 What if my previous employer doesn't send me my W-2? |
| So, In late January of last year I quit my job. It ended on a bad note with my employer, whom I worked for in her house. She took out taxes and everything. What do I do if she doesn't send me my ... |
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 Is the irs illegal or legal? |
Additional Details
Ok, right if it is Volintary the why are so many in jail then,or why cant I get a job with out paying for this cr*p hm mm.
I think ill just leave the us and be ... |
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 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 ... |
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 Can I claim petrol allowance? |
| I spend about 10 pounds a day on petrol, I'm in a full time permanent job and I have to use my car for work so how much can I expect my employers to pay legally...do they have to pay anything? I ... |
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 If you work for the church, is your paycheck taxed? |
| i know if the church makes a purchase they do not pay taxes because of the "seperation of church and state" but what about paid employees? do they pay any taxes? do they just pay federal?... |
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 IRS email scam? |
| I have been recieving emails almost every day- the address is donotreply@irs.gov, saying that I am owed a tax refund. When i click on it, it asks for my bank account or debit account info and says ... |
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 Are mortgage points deductible in the yr of pmt or do I spread them over life of loan? |
| I am a 1st time home buyer and am in a high tax bracket (33%). I am considering whether I should accept points and buy down the rate and claim all the points (approx $11,000) in the current year when ... |
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 How do rich people pay less tax? |
| How do rich people manage to find ways of paying less tax? I read that they employ people to find ways of reducing the amount of tax they have to pay and I was wondering what kind of things they do.... |
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 Unemployment taxes? |
| Stupid me didnt report my unemployment from 2006 on my tax return. WHat is going to happen? What should I do?... |
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kait3w | The difference in claiming 1 or 0 on a W4..? |
I am 21 and single.. so what is the best choice? I never know about how to fil these things out.. |
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Net Advisor
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I'm not a CPA, but you can claim yourself as a dependent. Claim One (1).
1. If you have no children, and since you are not married you can not claim more than 1 dependent.
2. If you claim zero (0), your employer with take more money out of your paycheck and sent it to the IRS for advance tax payments.
3. If you overpaid you get a refund when you file your tax return.
Basically they way I look at it is why give a free loan to the IRS if you think you'll get it back anyway? |
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cincinnati
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The safest is to claim 0. The question it is answering is how many dependents will you be claiming at the end of the year (yourself included). Technically you should answer 1 if you are living on your own and your parents are not claiming you. FYI- some insurance companies require the parent to claim the child if covered under their health insurance, so if you are on your parent's health insurance, you should ask if they are claiming you. That really doesn't matter until you file your taxes though.
If you claim 0 they will withhold more taxes from your paychecks to go toward your taxes at the end of the year. If you have paid to much you will be refunded. If you pay too little, you will have to pay more. Depending on what you make, and other investments determines your tax bracket. If you claim 1 you will probably be fine, but 0 would be safer. |
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Judy1
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If you are a dependent, claim zero. If you aren't, claim one. |
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efflandt
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If you are single and not claimed as a depend you can claim 1, and if you only have 1 job you can claim another (per W-4). So if single with one job and on your own, you can claim 2 exemptions. W-4 exemptions do not have to necessarily correspond with 1040 exemptions. What matters is whether you would owe more than $1000 at April tax filing time.
If you have enough deductions to itemize (unlikely unless you own a home) you may want to claim more exemptions, or if you have other income without withholding (more than minor bank account interest) you may want to claim less W-4 exemptions. |
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Brian J
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The easiest way to do it is just to follow the instructions for the Form W-4 and let those instructions walk you through the calculations to figure out your allowances. It's very simple math.
Just go step-by-step through each instruction and you'll be able to figure it out: http://www.irs.gov/pub/irs-pdf/fw4.pdf |
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W
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The number of dependents.....Which tells your emplyer how much tax to withhold. |
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Adam S
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Well if you claim 1 then the IRS is going to reduce your tax rate for 1 person. If you claim 0 then they will increase your tax rate. Basically if you want the IRS to save money for you, have less money in your pay check, and you want to receive funds back the following year claim 0. If you would rather have more money in your pay check, and not let the IRS use your money to make money throughout the year then claim 1. |
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tommiegunns
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if you claim 1 u have less money taken out of your check, the higher up you go, the more money u get on your weekly or bi weekly check, |
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