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 Why do I owe the IRS this year? This is the first time I had to pay the IRS money. I'm single. What gives.
It's not fair that single people pay more taxes..ughh. Just finished filing and I see I owe money...for the first time. What can I do to avoid this next year....


 What ways can i increase my salary and not pay so much taxes?
Get married?
have kids?
???...


 I want to withdraw about $10,000 from my IRA. I'm not 59 yet. How much will be the tax liablity? I know it's
10% tax which is $1000. But there is an additional taxable income. Does anybody know how much this amount is or how I can calculate this amount?
Additional Details
Sean1010, believe me I ...


 What is "quid"? How much?
I remember getting a royaIty cheque months Iater after the record was out and it was Iike 50 quid or something....


 Wht is the tax rate 4 firm n company 2008-09 in india?
...


 How can employee make employer stop taking too many taxes out and doesn't turn them in/deposit them to IRS?
VA Employer said they didn't have to turn anything in until Jan. and IRS says employee has nothing to do with anything that an employer does..but what happens if at the end of the year, the ...


 How much does it cost to have someone like H & R Block file my income taxes on a 1040?
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 How do I get my Pan Card?
...


 Anyone got the stimulus yet?
Mine came this morning just like i said, this is the deposit entry for my DD from the IRS.....


Date Time Description Amount
05/09/2008 01:52:51 ADD FUNDS
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 Has anyone received their "Stimulus Check" yet from the IRS. I am asking because I was reading online and
it says you should receive a letter prior to receiving your Stimulus check to let you know that you are receiving this. Has anyone received their letter yet? I have not thats why I am asking. BUT ...


 Www.platinum-haluage.co.u...
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 I am in receipt of mail from national uk lottery where in it was informed thai i won a prize of 85000gbp and i
insisting for making payment of 356 gbp infavour of alban chambers for getting an affidavit from the high court of uk.can i proceed with this or ...


 Where's My Stimulus Payment ... stop asking people READ THIS?
I've seen several questions asking where is the website and when are you gettin get.

here is the IRS website.
www.irs.gov

~*~*~**~*~*~**~*~*~*~*~*~**~~*~*~*~**~...<...


 What are tangable goods ?
...


 How can you give someone a lot of money without them having to pay taxes on it?
I know you can give individuals $13,000 per year without them having to pay taxes, but how can I give $50,000 to someone without them paying taxes on it? (Other than giving them cash.)...


 :::: Stimuls Check Cashed without My Permission::::?
can a stimulus check be cashed in any way without me actually being the one to cash it?
I ask because ever since i was young my mom has been so greatful to do my taxes online....but as i got ...


 I'm self-employed and I wasn't able to file for my taxes this year? Please help ASAP!?
I was in the process of moving in January 07' and I never received my tax forms for my previous job. I was a "self-epmloyee" so no taxes were taking out of my checks throughout the ...


 Can I claim these items on my taxes...?
I will be starting student teaching this year and will need to buy clothes and shoes, can those be claimed along with text books and other supplies? Since I will be back in school, i'll also ...


 Can jail term erase income tax debt?
If you go to jail because of unpaid taxes, once you are out of jail is the debt paid?...


 I just moved into a flat and wonderin what I do about coincil tax. do I just get in contact wiv local council?
Its not included in the rent and wondering how to sort it out. also any info on tv licence much appreciated....



Spyderman
Who should claim our son as a dependent?
My fiance and I lived with her family for most of the year. However, we both paid in several thousands of dollars we expect to get back for the most part. Her mother has been pretty persistent on claiming our 2 year old son. I don't like the idea and told my fiance no. Her mother keeps saying she is going to talk to her tax person and see. She says we won't get anything extra back because we didn't make enough, however my Grandpa who is an accountant says we will.

I'm not sure what to think of this and what the best option is. We are about to get our own place and the extra money would certainly help us, and the mom is all about herself and somewhat greedy when it comes to things like this so I am unsure of our best option. If we really won't get anything extra back, then I am more than willing to let her do it. I just don't want to get the raw end of this deal.
Additional Details
We as parents completely supported the child. Clothing, food, diapers, etc. We've also supported ourselves with the exception of rent.
                     
 




♡ту & яι&#39;ѕ мαмα мιℓf ρσѕѕє♡
Rating
This is a no-brainer answer.....I can't even believe your fiancee's mother would fight to claim YOUR child. She's unbelievable. IMO, you or your fiance should and WILL claim YOUR child. You need to tell that to your future MIL. I understand that you live in her household, but you both worked and supported YOUR child. As long as she doesn't know your child's SSN, she can't claim him either (and WHY would she need to know that, only the parent's should know that.)

Here's what you do, file for free online at turbotax.com (you & your fiancee) and before hitting submit, calculate who would get the bigger return combined. So you do your 1040 for just yourself, and then add your child & write down both totals. Then do your fiancee with just her, then add the child and write down both totals. Take your total for just yourself with your fiancee's with the child and add together. Then add the other 2 figures together. Which ever way is bigger is the way you should file.


Judy1
Rating
Either you, your gf or her mom can probably legally claim the baby. If you can't agree, the parent with the higher income gets the claim.

Whether you get anything extra back for claiming the child depends on how much each of you made, so no way to tell that. You'd most likely get something extra though, although if you are expecting most of your withholding back, it might not be much. If you'll post what all 3 incomes are, someone can give you a better answer.

Of course there is always the issue of fair, although that doesn't control what's legal to do. If her mom has had the three of you living with her for most of the year like you say, and has been providing much of your support (and remember, support includes housing and household expenses), then it might be fairer to let her claim the baby since she is legally allowed to.

There's another issue here - depending on how old your girlfriend is, it's possible that her mom can claim HER also, in which case your gf can't claim the baby.

With your additional details: first of all, you as parents did NOT totally support the child, since you say "except for rent" - that's a lot more than diapers,etc., as you will quickly discover when you move out on your own

You might get as much as around $3000 extra if you claim the baby. If your gf claims him, she might get around $1700. The grandparents would save maybe $1500, maybe more. So it might make sense financially for you to claim him, but would be fair to split to money with grandma as thanks for letting you live there rent free and for the extra tax she pays if you claim him and she can't.

With your added info, she can't claim your gf..


bostonianinmo
Rating
Since you lived with your fiancee and your child, either of you has a valid claim to the child. You should figure your taxes both ways and go with whichever way results in the lowest total tax liability between the two of you. If you cannot agree and both claim the child, the IRS will award the exemption to the parent with the higher AGI. That's not necessarily in your combined best interest though so you need to sort this out between the two of you in advance.

If either of you paid more than half of the cost of maintaining your home, that one can file as Head of Household. However since you lived with her family for most of the year it's highly unlikely that either of you paid more than half the cost of maintaining the home so neither of you can file as HoH.


v b
Ah, youth, if you did the IRS support test worksheet you'd discover what the IRS calls suppprt. Since this includes the baby's share of housing and food, it's highly doubtful that you provided more than half of the baby's support.

Fortunately for you the test isn't whether you provided more than half, rather that the baby didn't.

Let's see, your fiance files single, doesn't owe.
You file single and claim baby and get $0 tax and possibly get $2900 in EIC (If you were married, you'd get more) and a tiny bit in additional child tax credit.
If you filed single without the baby, you'd owe $105 in tax.

If your sort-of-in-law claimed the baby, they'd save $874 in income tax, $1000 in child tax credit...and when they claim mom, they save about $874 on her too.

so, literally you are comparing $2800 on your tax return with $1800 on theirs. Your's pays better. And even if you don't feel like sharing some as 'rent' you win because you are the parent.


Bob F
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From what you describe, you, your fiance, and her mother are all eligible to claim your son legally. If EVEVRYBODY agrees, then anybody they all agree on can legally claim him. If everybody did agree, I would suggest you all go in to have your taxes done by the same guy at the same time so that your son could be claimed by whoever it would benefit the most.

However, since you don't ALL agree, there are some tiebreakers. The first tiebreaker is that a parent always beats a non-parent. So you and your fiance beat grandma since you are both his parents.

If you and your fiance cannot decide, then which ever of you has the highest AGI (makes the most money) wins.

That is who will win if and when the IRS gets involved. In a practical matter, whoever electronically files the first wins - at least until the IRS is asked to get involved by having a second party claim your son.

Long story short - you and your fiance have a superior claim, but grandma can complicate it a lot if she efiles first. So you and your fiance should get to the tax office first. Here's an idea - make sure you get the mail every day and if grandma gets her W-2s before you guys do, hide it until your taxes are done and efiled.


Krystal K
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you, the parents should of course. i lived with my mom the entire past year while my husband was in korea. just because we lived with her doesnt mean we are going to let her claim him. just tell her, i'm claiming him and thats that, she cannot claim him without your consent so if you tell her no and she does it anyways, she can get into some trouble.


summerluvin_ca
I'm sorry to hear that your fiance mother is trying to pull this. Obviously she is aware of the tax break/write off that a child will allow her to claim. I'm not sure whether you are in Canada or not. But in Canada, whoever claims the child also receives benefits towards rearing of the child.

Do not allow the mother to claim your son as a dependent. When it comes to yourself and the fiancee, the person with the lower income will claim the child as a dependent.


getagrip
Rating
The thing is, she's your fiance's mother, and you lived with her a year. Your child was actually dependent on her for over 6 months out of the year. So technically, yes she can claim him. Just to keep peace in the family, don't bicker over money this time, and just let it go. I know you could use the money, but in the long run, it'll be worth it to let it go.


Ryan M
Rating
Who did the child LIVE with and who paid most of the child's living expenses. The answer to that is the winner! Also, you Grandpa is right!


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