 How do i know that me and my family will be better off on family tax credits? |
| The about of benefits we have coming in is alot, as both my children are disabled. My husband had a nervous break down and was on sick for along time. He would like to get back to work, with a job ... |
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 Can i e-file returns with turbotax? |
Additional Details
how do you do it?... |
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 Can somone explain to me how a tax rebate is supposed to boost the US economy ? |
| I have been hearing this for awhile now, but I don't understand how this is going to work. Thanks.... |
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 What to do if i owe money to the IRS?where should i go? |
| I've never owed money to irs is it possible it is a mistake?... |
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 What can the IRS do to you for not filing tax returns if you owe money? |
| I was divorced 2 years ago, (wife was cheating on me)had to dig into my retirement to settle with wife, she's not liable for the taxes and i'm broke and really depressed, so i decided that I... |
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 Can My Husband Claim me on his w2 (tax exemption)? |
| We recently moved to VA and I will be going to graduate school next year. We dont have any children. I do not work. Can he now claim "2" tax exemptions on his work W2 form. Can I be ... |
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 If u get paid £11,000 a year, how much is that each month??? |
| Salaries for junior designers may start at around £11,000 a year and i need to know how much it is a ... |
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 My husband and i filed seperate taxes mine single his head of household are we in trouble i didntno til 2day? |
| I'M TRYING TO FIND OUT IF I GOT SCREWED BY THE TAX COMPANY THAT I USED BECAUSE I'M TRYING TO APPLY FOR FINANCIAL AID AND THEY TOLD ME THAT I HAVE TO FILE AN AMENDED TAX RETURN THAT STATES I ... |
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 Ok i need more help-yesterday i talked to my friend robert and he said he claimed his brother on taxes he? |
| said he had right to,now the parents said they claimed him. i don't know much about this,but i know that more than 1 person CAN NOT claim the same individual-its not possible! he thinks im wrong-... |
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| First year for my 401k and I wonder do I have to file the amount I have paid into it with my taxes? |
| This is the first year I have ever put money into a retirement plan and I was not sure if I am to file the monetary information on my taxes. I have not borrowed against the 401k or transferred any ... |
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 I got married last year on December 15. My father inlaw has claimed my wife as a dependant.? |
How do I file for this year? Do I file single?
Additional Details
My wife is 20. My father inlaw pays for her university tution so I guess he figured it will be fine. I just filed today ... |
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 My national insurance number has changed is this possible ( UK)? |
| I have been self employed for 2 years and I'm now starting a salaried job again and my new employer has asked for proof of my National insurance no, so I have given the number from my last self ... |
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Jeramie Z | When do I need to pay taxes quarterly? |
I am working part-time and getting paid with a check, but he is not taking out the taxes. So it will be my responsibility to pay them. But at what point do I need to start paying on a quarterly basis instead of once a year? |
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Russ B
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Many of these answers are partially correct.
Yes, the ones that say you might not be a contract laborer might be correct. However, if you knew this before hand and agreed to it...that goes a long way to assure you are a contract laborer.
Now, to those that said the magic number is when you will owe $1000 in tax. Well that is true, but not the entire truth. There are exceptions, for example if you have paid in as much as your last years tax liability then there will not be a penalty.
There are many options available. I would suggest sitting down with an Enrolled Agent and discussing it with them. Most would charge you very little if anything as long as it isn't during tax season.
Remember, it is always better to ask for advice before you do something rather than after the fact. Once it is done it doesn't matter how good the preparer is...there usually isn't much they can do. Unless, they use creative accounting methods (meaning an illegal return).
Hope this helps.
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gaza
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The real problem with this arrangement is : ITS AGAINST THE LAW. All employers are REQUIRED to withhold local, state, and federal taxes. He has to deduct from your check, FICA and Federal Taxes, and/or state taxes. He is liable to pay that. He should give you a W-2 for the whole year.
What is an employer? 1. If they set a time for you to work each day. 2. If they dictate how you work? Doesn't matter if it is part time or not. If you are a "contractor" and work for many others bus, you would have to pay an IRS quarterly, including FICA
double the regular rate. You can get into a lot of trouble. Please do not take that chance.
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fax4voice3
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You need to have paid 90% of your federal income tax by the time you file or you'll get penalized (the penalty is small though). So start now, just to be safe. |
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Charles G
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If you end up owing more that $1000, you may be subject to a penalty. That works up to about $250 per quarter.
So, unless you have a fairly minimal job, you need to pay quarterly. |
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MrMojo1
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You didn't mention federal or state taxes.
Generally, federal estimated taxes are paid if you owe more than $1,000 and are paid in 4 equal installments due on 04/15, 06/15, 09/15 and 01/15 (last quarter is due the month of the next year).
The states apply th same quarterly installment dates but the tax threshold is different for each state. You can call up your state's tax authority for the information, if your state has an income tax.
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Auntie Mame
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In general you need to pay estimated quarterly taxes if you expect to owe more an $1,000. You can use the tax estimator at the H & R block web site. Be sure to enter your incomes as type 1099 -misc & not as wages.
If he is your boss (he tells you when, where or how to do a task and/or pays you by the hour) you are not an independent contractor but rather you are an employee. He, by law, must withhold taxes and pay 1/2 of your social security. Any document he has you sign that says you are an independent contractor does not hold any weight with the IRS.
Remind him to get a copy of IRS Publication 1779 that explains this and that the IRS penalties are severe for illegal classification of employees as independent contractors. Plus, he'll still have to pay all the taxes (plus interest & late penalties) he should have paid on your behalf even if you already paid them (you can apply for a refund). |
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Judy1
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If you expect to owe $1000 or more when you file, you need to make quarterly estimated payments. That includes both income tax and self employment tax. |
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travelguruette
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Quarterly taxes are due 4/15, 6/15, 9/15, and 1/15 the next year
If you owe $1000 or more at tax time you will owe a penalty. |
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cristobalite2
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Pay them quarterly |
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miagi
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don't pay taxes, the world is doomed anyway, enjoy your money while you can! |
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