 Why does my solicitor need my national insurance number when im buying a house? |
Additional Details
The reason i am asking is i have just come off aprentaship 0f the past 7 years I know its a long time but i have been an improer for the past 5 years therefore not ... |
|
 Is it necessary to get new tax software every year? |
| I have TurboTax from last year and wanted to know if I need to buy the new one or will the old one still do the trick?... |
|
 Can my ex-husband legally make me pay for his taxes this year? |
| My husband and I are currently going through a divorce. He was self-employed, so he was supposed to take taxes out of his own check. Unfortunately, he didn't do it, and now owes the government ... |
|
 What are the chances that you will get caught by IRS? |
Don’t worry, I am not trying to actually do this…I am just curios.
I would like to hear from people who actually know the system.
Let’s say you are a par-time student and you ... |
|
 Has anyone heard that the irs is illeagal? |
| i saw somewhere that there is no law that says you have to pay income tax?... |
|
 Will I have to pay back my economic stimulus rebate check? |
| I have read in a few scattered places, including a comment in the local paper that the 2008 economic stimulus rebate check is in fact, an advance on your 2008 tax return refund. I know all the IRS ... |
|
| Dress clothes u buy to wear at work is that tax deductible? |
| like button up shirts and polos required at work are these tax deductible???... |
|
 My daughter is 10 years. She receives SS survivors benefits . Can I still claim her as a dependant? |
| I earn approximately $29000 per year, and my daughter has no source of income other than the death benefits which are approximatelt $700 per month. Does she or I have to claim this as income? And can ... |
|
 Should I buy a program or go to the tax guy? |
| It'll cost me around 300 or more because of a home business...but I've kept good records for itemazations and business expenses.... |
|
 When will I get paid? I work at a grocery store in Canada.? |
| So, I got hired at a grocery store 3 weeks ago. During the first week on Thursday it was payday for everyone else. Now it's 3 weeks in and pay day is this Thursday. I've been there 3 weeks ... |
|
 My tax filing for 2006 was wrong. I actually lost money instead of not making any money. What can I do? |
| I received a K2 form and lost $8200 for year 2006. However I filed a joint return with my spouse for the first time and reported I didn't make any income. What can I do?... |
|
 Employer switched everyone from W-2's to 1099's? |
| I've been working at this place for 3 years.One day my direct deposit isn't there.Since then they have been paying everyone cash and told us this is the way it's gonna be from now on.W... |
|
 How much money should I get after tax from ÂŁ1840? |
| Before tax I have ÂŁ1840,that is a monthly payment,and I am not sure if I get the correct amount after tax.How much money should I get after all reduction.My tax code is 522L... |
|
|  |
icepapi | Would I or my father have to pay a gift tax if I give a $50,000 check to him from my savings? |
The money was already taxed when I received it as income...does it get taxed again when I give it as a gift to my father? |
 |
 
sjoschko
 |
The person giving the gift pays the tax (via form 709 (linked below)) if any. You can legally give anyone up to 12,000 in 2006, with your spouse able to give up to 12,000 as well. And if the person you're giving the money to is also married, you and your spouse could give up to 48,000 tax free (you give 12,000 to each, your spouse gives 12,000 to each), and this can be in one check, you don't need separate checks.
If you can, you can break it up and give him some money this year and then some money on Jan 1, 2007 if that is an option.
Check out IRS Publication 950 for more info on gifts (linked below). Check with your tax professional for more detailed questions and what is best for your situation. |
|
newhouse
|
Well thats a little complicated.
In 2006 you can give anyone a gift of $12,000 without any tax implications. (If your married your spouse can also gift $12,000).
You are also allowed to gift $1,000,000 in your lifetime without paying tax on it (the person giving the gift pays the tax), but you are required to file a gift tax return when gifting over $12,000 ($24,000 if your married). This return is a little beyond turbo tax and the best way to get it properly filed would be to consult with a local cpa.
hope this helps |
|
Mary
 |
check with a lawyer |
|
Bill
|
you can give $12000 to your father tax free..if you are married that doubles..and if your father is married you can each give him and his wife $12000..so a total of $48000 |
|
Oh Boy!
|
The giver pays the tax, and in this situation it would indeed be taxed.
There is an amount that you can give annually tax free. That amount used to be $10,000 but I believe it's recently gone up.
You need to see a tax expert. |
|
chelley
|
11,000 is tax free. unless it is now 12,000. if he is married, you can give, 22,000 or 24,000 if it has gone up. maybe if you are married it doubles as well, becuase technically you would be giving 11,000 and your wife 11,000 and so on. talk to a lawyer or an accountant about the laws and particular laws in your state. becuase i believe each state has particalar clauses as well. but at any rate, it would be you paying the gift tax, not your father. |
|
csabrinam
 |
i dont know the answer exactly to the question. But just make him a joint on ur account and he can transferr the money you already paid taxes on, without paying more. |
|
DashRockwood
 |
Yes, except for the first $10,000. |
|
ed
|
YES IT WILL BE TAXED!
Not shouting, but I can get mad as hell that this happens.
You can GIVE to a family member, $10,000.00 per year without tax liability. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 9 minutes(s) ago
| | | |
9 | 32 minutes(s) ago
| | | |
9 | 56 minutes(s) ago
| | | |
9 | 2 hour(s) ago
| | | |
9 | 3 hour(s) ago
| | | |
9 | 5 hour(s) ago
| | | |
9 | 7 hour(s) ago
| | | |
9 | 2 day(s) ago
| | | |
9 | 3 day(s) ago
| | | |
9 | 5 day(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
