 What is a tax return? |
| i dont understand any of the tax laws. except i have paid it and would like some back if im intitled to it. can some one explain how it all works for a employed worker like me.... |
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 Can an individual open and run two firms or more,in india ? |
| Are there any sales-tax or income tax implications in such cases ?... |
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 Do we need to pay tax for interests earned from accounts in CITIBANK? |
| I was told that we do not need to pay interests for accounts in domestic banks. Not sure about it.... |
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 Home mortgage interest (taxes)? |
| I have had a mortgage since 2004 and I've never had my mortgage interest deducted from my taxes. Is there a way to go back and have '04 through '07 deducted on one return? Or did I ... |
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 Do more taxes come out of overtime hours? |
| I work for a communications company and everyone claims that over-time and double-time hours are taxed at higher rates? I have never taken the time to sit down and run the numbers, so I decided to ... |
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 2008 Stimulus Tax Rebate i need help? |
| what do i do? I filed my tax back in January and had them direct deposited. Well do to recent fraud and Identity theft ( I know right a great way to start a year) my bank account is now closed. how ... |
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 Can you claim an unborn child on your tax return? |
| My mother in law said that her daughter does this and she should know because she has a ton of kids (she is married and Mormon...will pop them out until she can no longer). Don't you have to ... |
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 How many of you did not receive the stimulus checks from the gov. because you owed on a student loan? |
| I was really curious about this one! How many of you heard them say "we don't want people to use this for their bills we want them to go out and use it in the stores and stimulate the ... |
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 When you loose children and claim them on your taxes...? |
| in 06 I had a baby and she passed a month later in 06 when I claimed her on my taxes I thought that I got about $1,000 for having a child and close to $1,000 for her passing away. Now I had the same ... |
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 Two jobs what happens about the tax? |
| Im in full time employment but i want to get a second Job with an agency they told me i have to pay emergency tax permanently is this true?... |
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 I just started working as an independent contractor/sole proprietor and buy my own health insurance.? |
| It is my understanding that I may be able to include the cost of the insurance as a business expense if I pay for it as part of my business. I have not incorporated or anything like that--I just ... |
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 Can the IRS take your house away if your living in it? |
| Is there anything they can't take or do? I have a friend you had a contract job and they only took out state and she didn't know that. Now she's in debt for 6k. Do they look at your ... |
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 Where can I complain about a store that I know doesnt pay tax? |
| I know of a store manager that doesnt pay tax. how do I complain to the IRS and get him busted?... |
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Michy | What is the cut off for being taxed? |
Im not sure how all the tax works, but I was told that i shouldnt be taxed on my pay until i earn more than £4,500 then i can be taxed. If thats the case then ive been taxed since day one up until now.
Im not sure if this statement is true or not. or if im entitled to tax back. |
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Rachael H
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You can earn £5030 (I think) tax free, but yes, you pay tax from day one. However, if you only earn that amount within a year then you are entitled to a refund. I think. Don't sue me if I'm wrong. |
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clarky303
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At the moment in the UK, for people aged under 65, the current allowance is £5035 p/a for the tax year running until april this year. After that for the tax year 2007-08 it will be £5225.
This is just the basic allowance, anythign over that will be subject to tax, dependandt on your total gross income.
Rachael is right, you can get a rebate at the end of the tax year (and get it in bang on April 1st if you can) if you have not earned more than the allowance.
The way it works on PAYE is that you get taxed at a proportional rate, so if for 4 months of the year you are earning £1200 per month, that's double the allowance, so you would be paying tax as if you would be earning that much until the end of teh tax year.
Then if for the last 8 months of the tax year, you earned nothing at all, then you can claim the tax you have already paid back. This is because you're total amount was only £4800 over the 12 months. |
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Sonny Walkman
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7 years after you die |
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glgl
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Rachel is right, at the end of the tax year, I think 5th April (if you have earned less than £5035 you can either ask for tax back form or they send it to you automatically. I used to send a form but i know someone who worked here, & then left & went back to another country & they sent her a cheque. But to be sure check with your local tax office. In anycase, ask, you have nothin to lose & everything to gain. Also I think you can ask for tax back up to 5 years. earnings(if it hasn't changed). I once got a cheque for £1000! |
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b_i_l_l2002
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Rachael is right. The Revenue taxes your annual salary the moment you get paid. I assume you are not saying you earn less than £375 a month. |
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Graham H
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You can make up to 5035 pounds before you have to pay tax. But that is in a full tax year. They don't wait until you get to that before taxing you, they divide it up per week or per month and divide your annual pay the same way and if the pay exceeds the allowance you get taxed on it. |
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harry
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DEATH |
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DAVID C
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Death is the only escape from tax, you pay 17 1/2 percent on everything, then there is the tax on fuel. They may not get you when you die, but they get your survivors. |
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