 What percentage is VAT in the UK on goods and services? |
| What percentage is VAT in the UK on goods and services?... |
|
 Does separated count as single when filing taxes? |
My soon to be ex husband and I have been separated for about a year and 1/2. Can I file single on my tax return or do I need to file married filing separatly? Last year we filed jointly.
A... |
|
 If i make $100 million? |
| if i made $100 million, and tax is 35%, that means i loose $35 million, how do i keep the $100 million?... |
|
 Can I claim my daughter's wages? |
| My daughter made $2,100 for 2007 and I would like to know if I can include her wages with mine, which I am claimimg her as a dependant on my tax return?... |
|
 How soon can I file my 2007 taxes? |
| I heard that at around this time of year if you go to h and r block or amscot you could use your last paystub to get an advance (refund anticipation loan) before you get your W-2 in Jan.? Has anyone ... |
|
 If someone claims me as a dependant should I still file my taxes? |
| my niece has a job and recieved a W2, but her mom claims her as a dependant. Can she still file her taxes?... |
|
 Do I have to File my TAXES???? |
| I worked part time and only made $2665.50 this year. Do I have to file? I'm also claiming a dependent, head of household, and I'm a part time student. Does this make a difference???... |
|
 Inland revenue say i owe them £1200 from 2005 in tax credits? |
| but i was due to that money at the time because i was a single parent. i wrote and told them that at the time,ive never heard a thing off them until yesterday i got a letter that said they want it ... |
|
 How much will be my stimulus payment? |
| i made 34000 married filing joint return with 3 girls and my wife is a homemaker.... |
|
| How much do I need as a salary? |
Ok I need to take home £1200 a month AFTER all stopages, so what annual salary do I need to achieve this?
I am a married man with no tax breaks AFAIK... |
|
 I received a check from Chemstar financial and want to know if this is a scam? Has anyone else won a contest? |
| Chemstar Financial sent me a check and said it was to cover administrative and processing fees for my winnings. Is this a scam? They want me to send them the money from the original check first and ... |
|
 Am I respondsible for taxes on money deposited into a bank account in my name? |
| A friend want me to deposit his company's checks into my own bank account. My friend will pay me for the service. I am being told that taxes have already been paid on the money. I am concerned ... |
|
 How should a person approach the IRS when oweing them lots of money and after failing to file for 7 years? |
| I have a friend who has not filed taxes in several years and owes the IRS a lot of back taxes he'll never ever be able to pay. He'd like to approach them and reach some kind of a settlement ... |
|
|  |
Amber D | Who should claim the baby on thier taxes? |
We have a daughter due Jan 1st and there is a chance that she could be born before the new year. I live with my boyfriend and im just curious as to who should claim her? He makes more and pays in more than I do so he says he will get more back.....however...he hasnt paid his taxes in two years so im thinking hes only saying this b/c he will owe the irs less when he goes to straighten that mess out. Im also going back to college and will be applying for grant money for college.....will this have any effect on my grant money if I let him claim her?
Additional Details
I did look up earned income credit and I do qualify for that also. If that makes any difference....he makes too much for that! |
 |
 
Charles G
 |
Either of you could claim him. If you cannot decide, the IRS has "tiebreaker" rules.
Who spend more on the kid? That might not be a big concern if (s)he is alive only a day or two in 2008. The person who supports the kid more than 50% gets the dependent. Buy some formulat and some baby clothes and diapers, and keep the receipts. The mother has an edge on that.
The next question is, who supports the household more than 50%? They get to claim head of household, if they can also claim the kid. The person who makes more is presumed the one, unless it can be shown that the "poorer" relative is paying more.
It is best if the two adults can agree, and not drag the IRS into it. Especially for your boyfriend who may be having other problems with the IRS (point that out to him).
|
|
kpizura
|
First off, the dependent write off will only be for the 2008 tax year (assuming birth before 1/1/09). It would have no impact on the last two tax years, only the current one.
As far as the grant, I would think that having a dependent would only help your situation with respect to a grant. The factored cost of a dependent more than offsets the tax advantage of the write off. |
|
B
|
If he claims the child the refund will be greater; however, since he owes for the past two years it is likely that the government will take the entire refund toward his back taxes and neither of you will see a dime of that money.
If you claim the child you will receive the greater refund and this money will actually make it into the household budget. I say you should claim and he should settle his back taxes as soon as possible. It sounds like you are good with this sort of thing so maybe you can help him get his taxes straightened out. They will put him on a payment plan if he is cooperative but if he tries to avoid them they will just take any refund he gets each year. |
|
Gem
 |
Ask yourself this, which of you is shouldering the burden now?
Who pays for the prenatal care?
Who is responsible for the hospital debt? (keep in mind that unless there are complications, 70%--or more, of the bill is for you)
Reality is depending on how much money he makes, YOU as the lower wage earner would actually qualify for MORE back. We reward people for popping out kids in this country. If his salary is high enough, he would not qualify for the earned income credit. Go to irs.gov and search on 2008 earned income credit to see.
And finally, if he hasn't filed his taxes in 2 years (how irresponsible is that?) AND he claims the baby to straighten it out, YOU may have a hard time claiming baby in the future as the IRS may assume that he has the right to claim the baby.
Good luck and congrats |
|
Judy1
|
Either of you can claim her, and you can decide based on who saves more tax claiming her. Figure it both ways, though - it isn't always the higher earner who saves the most.
Having a dependent probably would help you with college financial aid. |
|
chatsplas
|
Well, if you were married, it would be a joint return of the two of you and your daughter. BUT I wouldn't marry him until his taxes are filed--sign of irresponsibility. A child born on or before 12/31/08 will give you an exemption for the child for the entire year.
DON'T have enough information to determine the advantage to you or to him. ONLY one of you can file HOH with the child, and there can only be one HOH in the household. IF BF earns more and supports baby and household, he and NOT you is entitled to claim child on his tax return. You don't give $ amounts, but sounds like he would have right to claim baby according to IRS. FYI Jackie: Merely being the mother does NOT give you right to claim baby to exclusion of father, when in same household.
BF needs to file his taxes and get it done! He should adjust his W-4 to have more taken out, then just DO it. If IRS owes him refund, no penalty, but you can only go back 3 years and still get refund. IF he owes IRS, then penalty and interest can apply, and longer he waits, the more the amount owed grows. |
|
julvrug
|
Why not just make it legal before the first of the year and get married? As for you boyfriend, it sounds as if he has not been responsible for the last couple years and now wants to use the baby to lessen the damages. You will receive less grant money if you do not claim her, as this would show a dependent with the funds you earn, but you really need to look at the bigger picture, he needs to get his taxes in order, and there is no reason not to be married for your child. |
|
Jackie
|
Get married, so it will be joint. |
|
SYJ
 |
You are the mother - you will give birth. You make the claim. Who earns more does not come into it. You will be caring for your daughter and will need all the money due to you. Your college grant should not be affected by this. |
|
Your Y!A BFF
|
it shoul dbe every other year |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
10 | 41 minutes(s) ago
| | | |
10 | 2 hour(s) ago
| | | |
10 | 5 hour(s) ago
| | | |
10 | 6 hour(s) ago
| | | |
10 | 9 hour(s) ago
| | | |
10 | 10 hour(s) ago
| | | |
10 | 1 day(s) ago
| | | |
10 | 3 day(s) ago
| | | |
9 | 6 day(s) ago
| | | |
10 | 2 week(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
