 I hear on the news that people making $50,000 or $60,000 per year are not paying taxes. Why am I? |
| They don't make it clear if it is personal income or family earnings. We are just my husband and myself.... |
|
 1099 or W 2? My boss is letting me decide: I am a single mother, head of household, low income. ? |
| Help! I need to know if I should file as 1099 or W 2 for my new job. My boss is letting me decide. I make $16 per hour/ 6 hours a day, have 2 children, and am head of household. Usually I have ... |
|
 Lotto Winnings does effect my income? |
| Hi my husband just won 10 grand, we live in massachuseets, now i'm sure your all thinking lucky, but here it goes he is going to take the money to pay off a debt he owes for his business to an ... |
|
 Is it customary to NOT receive a receipt of services at H&R Block? Our prep cost $469!? |
| We became reluctant landlords last year when we couldn't sell our house. I am self-employed (made less than $10,000) and we moved to a new state. We decided to have a professional do our taxes,... |
|
 Lost national insurance card but i know the number? |
Do you need the card or is it ok if you just know the number?
if you need the card..how can i get a replacement?
thanks ... |
|
 I owe a lot of $$ to IRS for taxes of 07 and I dont have the money to pay em.? |
| And I already have a payment plan with them for taxes from 06. Therefore, I cant set up another payment plan. Thing is I will have the money from a business deal that can take care of all the 07 ... |
|
 The IRS is spending $42 Million to tell people they might get a rebate....? |
The IRS says it doing so to inform people that they must file a tax return in order to be eligible for a rebate.
Is this expenditure reasonable since the press and news media have been saying ... |
|
 NOW, are you ready to support Steve Forbes "flat tax" proposal? |
| I'm going on 3 days now trying to preapre my tax returns.... enough is enough.... |
|
 Will I be getting the $600 tax refund? |
| I did not work at all in 2006, and I started my new job in October 2007, so I filed my taxes for the income I made from October till the end of December. I made about $10K. So will I be getting that $... |
|
 Am I eligible for the $600 refund? |
| Hello. I am 19 years old, my parents claim me as dependent and I made about $8,000 in 2007. Am I eligible?... |
|
 Unemployed son over 24 years of age, can be claimed dependent or not? |
| I have a son who became 24 in march of 2007. He was full time college student the whole year. He has $0 income in 2007. Therefore completely supported by me and my wife. Can I claim him as our ... |
|
 Can you sell a house & keep the $ gained from sale or will IRS take it even if there isn't a lien or levy? |
| If you owe the IRS money and there isn't a lien or levy put against assets yet, can you walk away from the sale with the $ gained or will the IRS automatically take it?... |
|
 My tax code is 479 L W1 what does the W1 part mean? |
| I earn a similar amount to my friends in the same industry but no one has this suffix?... |
|
|  |
june s | Which is a better move selling a car or donating it for a tax write off? its a 99 mercury sable pos.? |
|
 |
 
bjlevine
 |
Selling it. Under current IRS regulations, your deduction would be the amount the charity sells the car for, unless the charity is going to keep it for an extended period of time or else materially modify it.
If we assume that you're in the 25% tax bracket, if you donate the car, and they get $5000, you would receive a deduction of $5000, which would result in you paying $1250 less in taxes (plus whatever state rate). That's not too bad of a deduction. However, if you sell the car outright, you are likely to receive close to the same price they did. Even if you received only half what they sell it for, that would mean you get $2500 in cash, which is twice as much as the donation gave you. |
|
Rabbit
|
Sell it. Tax deductions are going to be much smaller these days. They will have to give you a deduction based on what they sold the car for. It is very likely that you will be more tenacious on price than some charity who is not, nor wants to be, in the used car business. They will get it at a cheap wholesale price, just a few notches above what the junk yard will give. So sell it yourself. |
|
asmul8ed
 |
What are you trying to accomplish??? Are you trying to get what it is worth? or are you trying to be charitable? If it is the first, sell it, donations will not get you a full return, it isn't a tax credit, it is a tax write off, which means you basically deduct the value of the car from your income, and therefor lessen the amount you pay in taxes. If you desire the later than donate it, it is usually for a good cause, and there is nothing wrong with donating. |
|
loves watching deer
 |
How much you asking for it? |
|
LUNASPECIAL
 |
selling it, as long as it is not to a dealer ship they will only give you blue book price |
|
sway_ii
 |
I would say selling it, the tax write off you would get for it would probably not amount to what you would get for it |
|
~ ΓΆβ„ΆΒ¥ ~ Annette ~ ΓΆβ„ΆΒ¥ ~
 |
it depends on whether you need the money...or a tax deduction |
|
Nick D
|
????????????????????????????????????????...
I don't use car. I walk. Walk is good for body |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
8 | 31 minutes(s) ago
| | | |
8 | 42 minutes(s) ago
| | | |
8 | 45 minutes(s) ago
| | | |
8 | 54 minutes(s) ago
| | | |
8 | 1 hour(s) ago
| | | |
8 | 2 hour(s) ago
| | | |
8 | 4 hour(s) ago
| | | |
8 | 9 hour(s) ago
| | | |
8 | 11 hour(s) ago
| | | |
8 | 1 day(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
