 I just got out of prison and i havent filed taxes since 1994. how do i get right with the irs? |
| i have not been in prison since 1994. I have worked 2 or 3 mos out of every year since 1994. I just never filed my taxes.... |
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 Should I claim dependents? I currently claim 0 but...? |
| My husband and I both work full time. We have 2 children. Currently, both of us claim 0 dependents. I thought I read somewhere that the person who makes the largest salary should claim the least ... |
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 A paper check if you got the RAL....boo hoo!? |
Q. I chose direct deposit for my 2007 tax refund but also requested a refund anticipation loan (RAL) from my preparer. How does that affect my stimulus payment?
A. Taxpayers who use RALs ... |
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I need some advice about tax refund information.
My husband and I we are living apart for about 5 month.
Now my husband wanted me to claim at my job " married 0", while last year ... |
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| I beilieve the income tax is illegal. Is it manadatory that federal income taxes be deducted from a person's salary?... |
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| I have asked a similar question a few times, and I wanted to clarify my situation in the hopes of being able to get the most accurate answer. I was hired to work as a secretary for 40 hours a week at ... |
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| I'd rather keep my money, earning interest on it, than send it to the IRS throughout the year. Is there a law that says I must pay it quarterly instead of paying it all on April 15??... |
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| He has full custody and they have lived with us for over the past 2 years, however i did not claim them last year. I have been their main provider for 2006 as their father has not worked, and their ... |
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| Wife was in an auto accident. Our attorney negotiated a small settlement with the insurance company. IRS claims we owe tax on the settlement because our attorney reported the settlement amount as ... |
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| And how will that affect our child tax credit for our two kids, because i don't have an income?... |
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 Is "Cancelled Debt" Income subject to Self-Employment Tax? |
Additional Details
This was a personal loan. Both my husband & I were self-employed at the time. However, this was a personal loan from my father-in-law (Before anybody jumps on ... |
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Mindi | Why do really wealthy people get tax breaks, whereas 'normal' people have to pay it all? |
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beejay
 |
I'll assume that by wealthy, you mean people earning above $95,000 and are therefore on the top tax rate of 47%. Therefore, everytime you give them a tax break (such as a deduction for donations), they will save $47 in tax for every $100. For the normal person who is on the 30% bracket, they will only save $30 in tax for every $100 they donate. Tax breaks for the wealthy tend to more beneficial because they are already paying a high amount of tax. Tax breaks for the normal person don't look so impressive, because they pay a lower rate.
It may be because these 'normal' tax breaks are so unimpressive that the government of the day knows that people don't care on election day about the 'sandwich and a milkshake' tax break. |
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oil field trash
 |
Gifts to charities are hardly a tax break. For every $1 diven to a charity, you only get about 20 cents back in tax reduction. So you pay 80 cents to get 20 cents. Hardly a reason to make a gift to charity.
By the way, at what income level is a person wealthy? |
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conundrum_dragon
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Because rich people can afford to make donations to charities which gives them a tax break. |
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jstmother
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Start a home business. Many of your common expenses can be charged to the new business, like part of your auto expenses, cell phone, Internet service, etc. All taxing entities (federal, local) allow business expenses to reduce your income for tax purposes.
I have a business opportunity in Australia, if you are interested. Write me (jstmother) at yahoo. |
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koopz
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because wealthy people pay 47% tax and 'normal people' only pay 30%. why should wealthy people be punished just because they earn more? |
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michaelsgdec
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Because money = power |
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jonkilcalembour
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Depending on the ideological sway of the current political apparatus, there is a (silly IMHO) belief that granting tax breaks to the rich will spur the economy since they will be more likely to invest in new business enterprises, and therefore create a larger labour pool (composed of you and I). As well, rich lobbyists have considerable clout with politicians to pass spec-interest bills that benefit the wealthiest (think here of tobacco and firearms lobbyists). |
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eamonbriggs08
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There are three reasons according to most mainstream economists:
1. Representation. The rich make campaign contributions to politicians and in exchange, politicians generally look out for them.
2. Bell curve. There are far for middle-class 'normal people' than there are rich people. Higher taxation for the rich wouldn't produce a fraction of the tax revenue that could be generated my a marginal increase in tax rates for the middle class. (I'm not sure I agree with this one but it is certainly a common argument in conservative circles).
3. Dispositional ethics. There are many people who believe everyone has an equal opportunity in life and thus, everyone should carry an equal burden. In other words, why should rich people have to pay more than everyone else, especially if they use fewer services (i.e. don't use medicare, medicaid, etc.)
These are the three main stream arguments as presented in most macroeconomic and taxation textbooks. I hope this helps. |
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Bishop
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i dont no but wen u hav a president like Bush u can always hope for the worst for unwealthy people
:( |
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