 Can I still file taxes if i got paid off the books? |
| I worked for a company last year off the books about 7 months. I earned $11,600.00. I have 2 children and was told I can still file. Will they tax me on my return and will I still get some money back?... |
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 Is there a law that ACTUALLY requires you to pay taxes ? |
| I've been hearing more and more about this and it kinda makes me ask..is there one?..You work for those dollars no, why pay TAXES for that..just asking.... |
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 Does HR Block offer a Rapid Refund service for income Tax refunds? Federal and State? |
| I would like to get my refund back in less the a week. Any ideas on where i should go and who would do it the cheapest?... |
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 What is the best business to go to to get your taxes done? |
| i just moved out from my parents and was never told how to file my taxes. although i did work last year, i wasn't able to file. i would like to file for last year, but i don't know who to ... |
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 I worked for my husbands company 8 months out of this year. Can I file taxes on that? I got paid cash.? |
| I worked for my husbands company 8 months out of this year. Can file taxes on that? I got paid cash. He didn't take any take any taxes out of my pay either. Where can I find on the web like a ... |
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 Is it true the IRS only pays refunds on Fridays? |
| Everyone I know has been paid on a Friday, however my date according to the IRS website is a Tuesday. Anyone know?... |
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 If my employer reimburses my tuition & then issues me a 1099 how do i reflect this on my tax return? |
| My employer paid for school last year and I was curious as to how I should reflect this on my tax return. They gave me a 1099 that shows the miscellaneous income for tuition. I paid the tuition and ... |
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 I cant prove the business miles i drove to the IRS? |
i wrote off 50,000 worth of business miles on my taxes in 2006. but now the IRS says i have to send in proof.
Ive looked through my files, but i dont have my mileage logs, that i may have ... |
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 Can I ever get social security and medicare taxes back? |
| I'm a high school student who earned only $1000 at McDonald's last year. 8% of my earnings always came directly out of my paycheck (social security and medicare taxes). As a Minnesotan, ... |
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 Why do we single out the rich with taxes, why not the poor too? |
| Think about, something many of you may not be aware of. You could be a single parent, living at home with your parents (as so often the case is). Not work all year (i.e. not pay taxes). and Still ... |
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| Was the Economic Stimulus rebate check we received last summer an advance on this years taxes? |
| When I was doing my research about this last year it said it was NOT an advance and you would not have to claim it on your taxes. However, today when I was reading about how to prepare to get your ... |
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 New kind of tax idea...? |
I've heard that, in the United States, the richest 10% of the population controls 90% of the wealth. (or something like that)
So...how about they pay 90% of the taxes?... |
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 I've just moved from Ireland to take a job in VIrgina...what moving expenses can I get? |
| Hi...I moved from Ireland to take a job in Virginia. My employer said they would pay up to $2500 moving expenses. I kept all my receipts but am wondering which ones to submit. The company gave me a ... |
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 How do i determin the fair mkt value of my Moms home in Mar 1995 to close out her estate.? |
| Dad died in 3/95, Mom in 3/06. Need to do final iRS. How best to determin FMV at time of Dad"s death?... |
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 How can I qualify for earned income credit if I am married? |
| I have received earned income credit for my son every year. I will be getting married soon. Our combined income is above the maximum allowed. Can I use "married filing seperately" and be ... |
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cdxx420 | This is my first year as an indpendent contractor, and my tax professional says I owe...? |
I was expecting to get about 2500 back in earned income credit, but they are saying i owe 300. I only made 23,500 and I had 8000 in expenses. I didn't pay in my medicare or ss through the year, but the other contractors say that they still always get a big refund as long as they don't make over 45000. Is H&R block screwing something up? Or should I just take it like a man.... |
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Judy1
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You'll owe around $2300 in self-employment tax on your net schedule C income of $15,500. You don't give enough info to figure the rest of your tax. If you are married filing a joint return with one dependent child, you wouldn't owe income tax and would get an EIC a little bigger than your SE tax so should still get a small refund. If you're married filing joint, 2 kids, you should get a couple thousand back. If you don't have kids, whether you're married or single, then you'd owe quite a bit since you would not get EIC.
If you have a couple kids and are filing a joint return, then yes something sounds wrong. Post again with your filing status and whether you have kids and if so, their ages and if they live with you, and somebody can figure it closer. Also, if you itemize, give an idea of how much your itemized deductions total. I'm not talking about your business deductions, you already said around $8K on that.
By the way, CPA's are tax professionals. To use that name with many H&R preparers is a stretch. |
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Rob
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Did you make any estimated payments through the year? If not then your EIC paid the majority of your taxes for you. Being Self Employed you are required to make Quarterly Estimated payments. just like wage earners you are required to pay as you earn
http://www.irs.gov/taxtopics/tc306.html
http://www.irs.gov/businesses/small/index.html |
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thunder2sys
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LOL @ H&R Block. Isn't that where the people who can't get into a tax firm or start their own tax firm go to work? Those stores that open up in Walmart during tax season?
Try going to an experienced tax accountant and not an unexperienced one. |
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Carissa S
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Don't use Turbo Tax or H&R Block. I used to be a tax preparer and neither are good. I've seen more returns messed up by both of those "preparers" than anything else. Plus, H&R doesn't keep copies of past returns, so if you lose yours, you're basically screwed.
Hate to put down your buddies, but its likely they are messing up or not reporting things on purpose. It happens a lot with independent contractors and 1099s.
Just please avoid Turbo Tax. |
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rvblatz
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GO SOME PLACE ELSE |
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F C
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HR could be right, but I give them a big thumbs down. Did you pay several hundred dollars to them? You could do your own taxes with some good tax software for less than $100. Why don't you ask a contractor friend to compare notes and see where he saved and you had to pay. Maybe he is doing something you need to do, or learn something for next tax year, or maybe you'll find a mistake. |
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cinderella
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Not quite sure, but if you do not send in payments during the year I think there is a penalty. There is also self employment tax. |
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ProfessorC
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Yes, you owe quarterly tax payments BUT if you had NO tax liability for the previous year the penalties are waived. Just looking at your rough figures I don't see a tax liability.
You probably should have just bought Turbo Tax (not Tax Cut its owned by H& R Block) and did your own taxes. It might be worth an additional $20 for the software to see if you could do them. Most of the people employed by Block aren't accountants or even college grads. |
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