| Subject | Date Asked |
|
| loss against gains | 11/13/2008 |
Q: Can one put the $3000 stock realized loss against dividends and interest for the year? Just want to ...
A: Jan: You may wont to reconsider surrendering the annuity in toto. Have you asked the annuity ...
|
| Deducting cost of home remodeling | 11/12/2008 |
Q: My wife and I are in the process of remodeling our basement. Can we deduct any of the cost of the ...
A: Keith: You may only deduct the sales tax paid on the remodeling of you home. Improvements become ...
|
| TREATMENT OF PROFITS | 11/12/2008 |
Q: I have loaned my small company moneys over the years. I had a small profit this year and I wanted to ...
A: Joseph: If it is a loan you must pay interest to yourself. You must calculate reasonable interest ...
|
| taxes and disability check | 11/11/2008 |
Q: i only receive 909.00 in medical disability.my son is also disabled.i usually claim head of ...
A: Susan: Generally disability income is not reportable or taxable. If it is from social security ...
|
| Deducting cost of home remodeling | 11/6/2008 |
Q: My wife and I are in the process of remodeling our basement. Can we deduct any of the cost of the ...
A: Keith: She can, but, remember the are that is designated as your business office must be used ...
|
| Per Diem employees | 11/4/2008 |
Q: We are a pharmacy that used agencies in the past to staff our pharmacies when we have vacation or ...
A: Pam: In accounting the term is "creative". Usually a workers who works something other than full ...
|
| Per Diem employees | 11/4/2008 |
Q: We are a pharmacy that used agencies in the past to staff our pharmacies when we have vacation or ...
A: Pam: What is a "PER DIEM" Employee? I find nothing wrong with the letter other than the use of the ...
|
| Per Diem employees | 11/3/2008 |
Q: We are a pharmacy that used agencies in the past to staff our pharmacies when we have vacation or ...
A: Pam: Your use of the term "per diem" misses the intent, the letter, and spirt of the law as defined ...
|
| irs penalty? | 11/2/2008 |
Q: I've always filed a 1040 but this year (in October) I cashed in part of a variable annuity. Will I ...
A: Jan: If the annuity was a qualified plan and you are over 59 1/2 you will owe no penalty. If its ...
|
| Taxes | 11/1/2008 |
Q: I want to know which state tax is more either for NJ or DE given pay-rate is same. Thanks, Santosh ...
A: Mr. SOLLETI: If you work in one state and live in another state your taxes will be higher. Since, ...
|
| Taxes | 10/31/2008 |
Q: I want to know which state tax is more either for NJ or DE given pay-rate is same. Thanks, Santosh ...
A: Mr. Solleti: It is more involved than H1 (I assume that is a visa) when filing income tax status. ...
|
| State SUI limits | 10/30/2008 |
Q: We are a multi-state employer. We have an employee who has earned $7000 taxable wages in CA, $1,000 ...
A: Lee: Depends on what the SUI limit is in the state he is working what has to be reported to that ...
|
| Real Estate Taxes - Can we still appeal for reassessment? | 10/26/2008 |
Q: I am in Cook county, IL. I received real estate bill assessed during somewhere in January 08. I ...
A: Sidhni: Your rate (value) is set until the next appraisal period. Every state has property ...
|
| 401k or IRA penalties | 10/24/2008 |
Q: I would like to buy a home. I know that I can withdraw up to 10K from an IRA (not Roth)without ...
A: Halfie: I never recommend to withdrawal money from a retirement account. I personally rolled all ...
|
| FICA/Section 218 SSA | 10/23/2008 |
Q: Teacher in Illinois, was required to pay FICA instead of paying into State Teachers' Retirement ...
A: John: What is your question? There is no question in your statement. Everyone is required to pay ...
|
| Divorce Settlement IRA Withdrawal | 10/22/2008 |
Q: In addition to a 50% transfer of IRA funds from my son's account to his ex's IRA account, he wants ...
A: Mary: Early withdrawal from an IRA requires a 10% penalty an a 35% tax rate. I am not aware of an ...
|
| section 179 | 10/20/2008 |
Q: I am looking at a laundromat that has really old equipment that the owner wants a answer on ASAP. ...
A: Tia: You would have less expense involved if he removed the old equipment before you install the ...
|
| 1099 estimate tax deposits in NY | 10/20/2008 |
Q: I just started working as independent contractor for 1099 in NY. I learned that I have to make ...
A: Genri: Yes you must file estimated tax information on Federal Form 1040ES. It is available on the ...
|
| Can I be claimed as a dependant? | 10/20/2008 |
Q: I'm a perminant resident of the US since July 17th 2008 and I'm 20. Since that time though my father ...
A: Shirin: The short answer is no. For income tax purposes, at age 18 a person is no longer a ...
|
| tax return | 10/18/2008 |
Q: I am a resident in anesthesia in cleveland ohio. I filed my tax returns for 2007 on form 1040NR.But ...
A: Mr. Dixit: I am not knowledgeable of the United States Visa Program. I have never filed a tax ...
|
| dependent claim | 10/17/2008 |
Q: I have been supporting my brother for the last two years, paying not just 1/2, but all of his ...
A: Caroline: A child (person) is a dependent until they reach the age of 18. At the age of 18 a child ...
|
| s-corp | 10/16/2008 |
Q: I have made about $2000 this year and have an s-corp. (real estate) should I have concerns?
A: Leanna: Sorry, I do not understand your question. I believe "concerns" requires an essay for an ...
|
| per diem | 10/13/2008 |
Q: is it legal for a company to charge a client (supplying contract personnel) perdiem and not pay the ...
A: Dale: Per diem is not a right. The owner of a business can pay any amount he/she chooses to pay ...
|
| foreclosures | 10/13/2008 |
Q: If had foreclosed on my house in the middle of a tax year, am I still able to claim the insurance ...
A: Tara: You would file your tax return for that year at the due date of the return and claim what ...
|
| church and filing state tax | 10/13/2008 |
Q: I would like to know do state of Georgia allow they churches to file state tax.
A: Marcus: I need more information in order to answer your question. Generally churches are excluded ...
|
| filing married/single | 10/10/2008 |
Q: I am trying to get back child support from my daughter's mother, out of she and her boyfriends ...
A: William: No, IRS would have several questions. One would be, why is he filing a fraudulent tax ...
|
| filing married/single | 10/9/2008 |
Q: I am trying to get back child support from my daughter's mother, out of she and her boyfriends ...
A: William: If she is not working, then, she is not paying any taxes. Since, he is not responsible ...
|
| Working for a Non-Profit Theatre | 10/7/2008 |
Q: My wife works at least 25 hours a week as Business Manager for a non-profit community theatre. I ...
A: Michael: She is an employee. If the not for profit corporation is a 501(c)(3) the organization my ...
|
| 1099 | 10/7/2008 |
Q: If I have a person who has been a 1099 and earned 3k a month and commissions and I lay him off, can ...
A: Roberto: Yes the employee can file for unemployment. I do not understand why a person who is paid ...
|
| internship tax question. | 10/6/2008 |
Q: I am an international student on F1 visa(non-resident alien), who recently acquired a paid ...
A: Saahil: The company or individual who is paying you appears to be doing it all wrong. You are not ...
|
| Question on Sec.179 | 10/3/2008 |
Q: Your webisite is really useful for any business or Accountants. I got a quick question on ...
A: Jon: The irs web site spells out what the irs will allow for depreciation. I do not have a list of ...
|
| Stock loss | 10/1/2008 |
Q: My salary is 50k/year. But I have lost 70k in the stock market this year. My question are: 1. can I ...
A: Sam: Remember, if your investment is in a mutual fund, stock certificates, or a 401K fund and you ...
|
| Is business mileage expense reimbursement taxable? | 9/30/2008 |
Q: My company reimburses me for mileage once a month which is added to my regular paycheck. I am ...
A: Shannon: If you report to your employer in writing the number of miles you drive and the employer ...
|
| Contract worker | 9/24/2008 |
Q: How would I handle paying a contract worker per diem for going out of town to work on a plane? He ...
A: Elysabeth: He is an employee in all manner. It is up to you to pay him what ever you have agreed ...
|
| 1099/w-2 | 9/23/2008 |
Q: I have a contracted person who did some work for me in 2007. I gave this person a 1099. she filed ...
A: Bonnie: Employees work for you. Independent contractors own their own business. Employees receive ...
|
| Paying taxes | 9/21/2008 |
Q: Hey! I'm 20/female, a full time college student, unemployed, my grandparents claim me on their ...
A: Kayla: You only pay taxes when you work. If you are unemployed or otherwise have not worked you ...
|
| 1099 employee and unemployment | 9/19/2008 |
Q: I work for the company for 20 years-W2- and last night because of financial troubles they informed ...
A: Mr. Sutton: Your argument will be that you are an employee. The employer has not reported all your ...
|
| 1099 | 9/19/2008 |
Q: I am an acupuncturist who was recently an employee at an acupuncture clinic in NYC from Feb 08 till ...
A: Sebrina: If you are an independent contractor she would be renting you a place for a set amount a ...
|
| 4361 | 9/16/2008 |
Q: My husband is a United Methodist pastor. He opted out of social security in June 1997. We have never ...
A: Holly: The form 4361 should have been filed by the 2nd year when your husband had $400.00 or more ...
|
| IRS Audit | 9/15/2008 |
Q: I am from the State of California. I married my husband in 2006. We filed our 2006 taxes and the ...
A: Marlene: You need to contact an attorney. It will be well worth your money to consult with an ...
|
| Ministry work | 9/12/2008 |
Q: I am a unpaid volunteer Coordinator in Alabama for a world wide ministry. What this means is I ...
A: Martine: What do you do ordinarily to earn a living for you to write this off. You will need to ...
|
| Filing W4 Exempt | 9/10/2008 |
Q: I had an employee come to my office and wanted to change his W4 to exempt. His income is over ...
A: Janie: That is the IRS rule. Unless his accountant has calculated his tax liability for the year ...
|
| contract labor | 9/7/2008 |
Q: I recently started working(state of Texas), my employer never asked for me to fill out a W-2. I ...
A: Marta: You need to set aside at least 25% of your pay for social security, medicare, and income ...
|
| Claim daughter on taxes | 9/6/2008 |
Q: We have a daughter that we support. She lives with her grandparent. My husband has custody. She has ...
A: Laura: She must live with you. If she lives with someone else and if she is 18 an older she is in ...
|
| income tax | 9/2/2008 |
Q: My husband is a truck driver. We live in oregon but his yard is in california. Do we have to pay ...
A: Kendra: Does he perform any service for his employer in the state of California? If he does he is ...
|
| Michigan employer, Florida employees | 9/2/2008 |
Q: My husband resides in Michigan but has new postal runs in Florida. We do plan to move down there by ...
A: Laura: If you are a corporation you probably will need to register as an out of state corporation ...
|
| Commission Tax | 8/30/2008 |
Q: I work for a Retail Department Store (Federated), in the cosmetics department..In our employee info ...
A: Susan: It's the federal withholding tax. It is added to your income tax paid in totals for the ...
|
| Uniform allowance | 8/29/2008 |
Q: As a police officer I receive a yearly "uniform allowance". Up until 2007 no state or federal taxes ...
A: Matt: Realistically your top rate is probably 28% unless you have other income that requires you to ...
|
| 401k hardship withdrawl | 8/29/2008 |
Q: we are trying to take monies out of my 401k for hardship. we were told we need documents to prove ...
A: Janet: I know it is rough. I feel for you and your situation. Hardship cases for withdrawal of ...
|
| Volunteer | 8/27/2008 |
Q: Oregon state has an exclusion for volunteers whom donates service for no remuneration or without ...
A: Brian: Under federal it is wages, I find no exclusion for income tax purposes. However, if its a ...
|
| taxes | 8/26/2008 |
Q: what happen when you have a lien on you house and the ten years of you taxes already pass. and is ...
A: Ms. Hermandez: I need a little more information before I can render an opinion. My understanding ...
|
| Roll 401K $ to IRA for first time home buyer | 8/25/2008 |
Q: My husband and I would like to buy our first house. I am 25 and he is 28. I have a 401K with just ...
A: J It is my recommendation to leave the retirement money in place. Never use it to purchase a house ...
|
| Residency | 8/24/2008 |
Q: I am looking at buying property in Mexico and building a house there. I will live in the house as my ...
A: Tom: All you need to do is declare Mexico as you residency. However, you will give up the right to ...
|
| paper route | 8/23/2008 |
Q: I am a single female who has two jobs, making 56,000 a year at the first and the second I just ...
A: Kelly: 30 miles a day equals to about $15.00 a day deduction in mileage off the earnings. You will ...
|
| dependent tax deduction | 8/22/2008 |
Q: I have a child who will turn 24 on December 29,2009. Can a tax deduction be taken in January 2010 ...
A: Adrian: If the child is in college and you are the only means of support. Age 24 is the absolute ...
|
| SAVING TAXES ON WITHDRAWAL FROM IRA | 8/22/2008 |
Q: IS THERE ANY WAY THAT I CAN PREVENT OR DELAY PAYING TAXES IF I WITHDRAW A LARGE AMOUNT OF MY IRA? ...
A: Norma: If you are 59.5 years of age or older and have a medical reason you maybe able to withdraw ...
|
| 1099 | 8/21/2008 |
Q: my employer has told me I will receive 1099. I do not know what that is other than research online. ...
A: Martha: It appears your employer wants to consider you to be an independent contractor and not an ...
|
| 1099 employee/employer | 8/21/2008 |
Q: I have hired a nanny for childcare and hadn't discussed the tax situation. I need to have the ...
A: Catheren: She is your domestic employee. You will be required to withhold income, social security, ...
|
| 1099 Tax form and liability | 8/20/2008 |
Q: Good afternoon Glen, I am working as an independent contractor in Chicago, Illinois for the past 4 ...
A: Adena: You will need to file 1040ES which will determine your tax liability for this year. For the ...
|
| 2 JOBS/SAME EMPLOYER ; F-T; INDEPENDENT CONTRACTOR | 8/19/2008 |
Q: Small VA mfg co. Have f-t employee in Assembly. She also works after hours as our independent ...
A: Pam: The typical problem with the typical response. I have a worker who is working for me as an ...
|
| Taxes | 8/19/2008 |
Q: I have a question regarding taxes. Just to give you alittle background. I worked at a job for 15 ...
A: Gary: You need a good tax lawyer to get you out of this tax nightmare. As I have said so many ...
|
| 1099 and working for non profit | 8/18/2008 |
Q: A friend is unemployed. Helped at church and was furnished a 1099 for 2007. Was told at ...
A: Al: I am so sorry, but, once the act has already been done there is nothing she can do to undo the ...
|
| CA tax if living and working in Nevada | 8/14/2008 |
Q: I primarily work at my home office in Nevada (80% of the time). 20% of the time I work in ...
A: Megan: You may owe taxes in both states. My state does not have state income tax, therefore, I ...
|
| Residence tax | 8/14/2008 |
Q: I live in Iowa State.My company deduct only Nebraska taxes .Is it ok if they don't collect the Iowa ...
A: Vijay: I can not answer your question directly. However, if you work in one state and live in ...
|
| W4 Question | 8/12/2008 |
Q: I am working for a contractor in West Virginia. As an employer, can they dictate my W4 status? I am ...
A: Jeremy: I do not understand your question regarding the fixed $75. If you claim 10 dependents will ...
|
| IRS and S-corps | 8/1/2008 |
Q: Under IRS regulations, can a owner or principal of an S-corp pay themselves a salary as an ...
A: Larry: As an officer of a corporation, including an S Corporation, you are an employee and are ...
|
| taxing part time employees under the age of 18. | 7/28/2008 |
Q: I am trying to determine if I need to take out taxes for part time employees who make less than ...
A: Craig: Yes you need to take out and report the kids. Since they are being reported as dependents ...
|
| Taxes on income overseas, but living in the U.S. | 7/23/2008 |
Q: I have a job opportunity working in the Kingdom of Saudi Arabia (KSA) as a pilot for a business ...
A: Glenn: Under first impression I do not believe that it will effect the exemption rules. You have ...
|
| Taxation of year end bonus to recipient | 7/22/2008 |
Q: I prepare my son's tax return. He is employed as a project manager for a large construction firm and ...
A: Beverly: The bonus should be reported on the W-2 along his other wages. The bonus is wages not ...
|
| per diem | 7/21/2008 |
Q: I have a question about receiving per diem. I have been working in San Francisco for 18 months, for ...
A: Mr. Richard: Per diem is a way to pay an employee when he travels for the employer. There is no ...
|
| Resellers tax | 7/21/2008 |
Q: WE are a resellers in CA we bought an item in TX and was a drop ship in TX, the shipping was charged ...
A: Ms. Capitanachi: If you have all your tax forms in order to operate a retail sales operation then ...
|
| Unemployement Benefits | 7/20/2008 |
Q: I was informed by my employer that my job of 4 years was being relocated to another office and that ...
A: Ms. Johnson: The employer can claim anything he wants to claim. However, stick to your guns. The ...
|
| state income tax | 7/18/2008 |
Q: I know someone who lives and works in DC. She is getting Maryland state tax withheld from her ...
A: Sandi: Maryland has an agreement with DC that employers will withhold state income tax and forward. ...
|
| Employment status | 7/16/2008 |
Q: I agreed to fill in for an employee who is out for surgery in the month of July at a winery that I ...
A: Elizabeth: You are an employee not an independent contractor. It is apparent that the employer is ...
|
| OFF the Books | 7/16/2008 |
Q: currently work off the books but my employer pays me with a check. i have been working there for ...
A: Steve: If you are working for your employer as an employee, the wages you are earning are being ...
|
| health care premium | 7/8/2008 |
Q: Our Company offers health insurance to the employees - the company pays most of the insurance cost ...
A: Teresa: Any premiums paid by the employer is considered an expense against income. If a formal ...
|
| Interstate Unemployment | 7/8/2008 |
Q: My girlfriend and I were both laid off a few weeks ago, 5 months after moving from Ohio to ...
A: Scott: More than likely your unemployment benefits are calculated on your employment in Ohio and it ...
|
| Seperated parents and taxes | 7/8/2008 |
Q: My friend is the father of a 17yr old girl. He is not and has never been married to the mother but ...
A: Debra: This is not separated parents in a legal sense, it is a child born out of wedlock. A parent ...
|
| house as a gift | 7/7/2008 |
Q: My dad wants to give me his house but i do not know how to go about it or were to start. Can you ...
A: Panfila: I do not know the circumstances, but, you should go to www.irs.gov and read up on gifts. ...
|
| family employee for SMLLC | 7/7/2008 |
Q: I have a single member LLC formed in Dec 2006 with an EIN in New Mexico. I now wish to hire my ...
A: Keith: First LLC's have no family, but, the member may have a family. Therefore, LLC's have no ...
|
| unemployment qualifications | 7/7/2008 |
Q: I live in New York State, I'm 66 years old, I was terminated by my company, I will be collecting a ...
A: Anthony: You do have the right to contest New York denial of unemployment benefit. You may have ...
|
| FOREIGN PERSON - LLC! | 7/7/2008 |
Q: I am not a US citizen and not a us resident. I am from Argentina and I have an online business ...
A: Mr. Ares: First you have to apply to some state, secretary of state, to see if you can register an ...
|
| inheritance tax | 7/4/2008 |
Q: Our parents died. They had a cd and savings included in the family trust. Also had insurance, IRA ...
A: Noris: All inheritance tax will be paid by the estate. In some rare cases, inherited money may be ...
|
| health care premium | 7/3/2008 |
Q: Our Company offers health insurance to the employees - the company pays most of the insurance cost ...
A: Teresa: A 125 Plan for the employee's portion of the Medical Plan is the only way an employee can ...
|
| PRI-States-tax | 7/1/2008 |
Q: Should I be getting PRI-TAX taling out my check if I live in ca and my company is base out of ...
A: Andrew: Could you please re-ask your question clarifying the meaning of PRI-TAX and CA? As I ...
|
| injured spouse form | 6/28/2008 |
Q: Can I file for more than one year, if this happened more than one year since we have been married?
A: Kelly: I presumed your question to be can I go back and amend my previously filed tax return on a ...
|
| short saling a home and tax repercussions | 6/28/2008 |
Q: I don't know if I am asking the right individual so if not, I apologize in advance. I am doing this ...
A: Kathy: Based on the information you have provided she will not owe any income tax on the gain in ...
|
| Getting a 1099 for a gift | 6/26/2008 |
Q: My girlfriend won a trip for her and a guest to a destination. Her company is sending me a 1099 ...
A: Joey: Nothing is free. You will owe taxes on the value (their cost) of your part of the trip. ...
|
| interstate unemployment | 6/25/2008 |
Q: Recently laid off from my home state but I have worked in several states over the past year and a ...
A: Jeremy: You need to file a claim in whatever state you are in reporting all your employers. The ...
|
| notice of debt LA County | 6/24/2008 |
Q: I received a notice of debt filed by the los Angeles County treasurer and tax collector in the ...
A: Kabir Chopra: You will need to bring your mother along. I assume she is the one who filed for food ...
|
| gift from foreign national | 6/23/2008 |
Q: Who would be liable for tax ( if any) if a foreign national , with no residency or ties in the USA, ...
A: Tom: How will the foreign national know whom to give a gift if they have no contact with the USA? ...
|
| 1099 filing | 6/23/2008 |
Q: My previous job the employer was to take taxes out of my check. But instead he said that I was going ...
A: Mark: You, from all that you have said, are an employee. If the employer reports you another way ...
|
| W2 and 1099 income from same employer | 6/22/2008 |
Q: I recently left a firm that I had been work with for approximately two years that never made the ...
A: Dan: This would be a good time to "whistle blow" on this employer. The reason for unemployment tax ...
|
| Tax classification | 6/19/2008 |
Q: I was going to join a group practice as an associate. The group was going to be supplemented by the ...
A: Angie: If you fill out a W-9 form with the hospital the total money sent in your name will be ...
|
| Per Diem Deduction for truck drivers | 6/16/2008 |
Q: I work for a trucking company that recently instated a policy requiring all of it's drivers to have ...
A: Bob: I was not aware that per diem was deducted from your gross pay? I do not know the answer to ...
|
| referral fees under $400.00 | 6/14/2008 |
Q: To continue the discussion, I have a few more questions. Is there a minimum that you do not have to ...
A: Ra: Referral fees are a fiction. It is another word for paying someone for their services without ...
|
| benifits | 6/11/2008 |
Q: Please describe me the difference between w2 (with benifits), w2 (no benifits) & 1099? thank you.
A: Bruce: W-2 is the form used to report to the social security administration and to the IRS what ...
|
| 1099 Misc needed?? | 6/10/2008 |
Q: I just started a company its an LLC and I am wondering when I provide service for my clients (I have ...
A: Angie: I know I have been a little difficult with you. I take very seriously the job of accounting ...
|
| 1099 Misc needed?? | 6/4/2008 |
Q: I just started a company its an LLC and I am wondering when I provide service for my clients (I have ...
A: Angie: I would send you a 1099 if you were paid $600.00 or more. However, you are the bookkeeper, ...
|
| unemployment | 6/4/2008 |
Q: I HAVE RECENTLY RESIGNED FROM MY JOB OF 24 YEARS. I HAD A RULE VIOLATION AT WORK AND WAS SUSPECTED ...
A: Greg: In my state when unemployment benefits are involved, a separation is changed to a ...
|
| unemployment | 6/4/2008 |
Q: I HAVE RECENTLY RESIGNED FROM MY JOB OF 24 YEARS. I HAD A RULE VIOLATION AT WORK AND WAS SUSPECTED ...
A: Greg: If you turn it into a resignation then the unemployment benefits you have received may be ...
|
| claming a child | 6/3/2008 |
Q: My fiance and his X-girlfriend have been seperated for about 5 years now and i have one child ...
A: Jenna: Without a court order, he will not be able to claim the child. The test is with whom does ...
|
| Board of directors | 5/26/2008 |
Q: I recently have been made a director of a company in addition to my regular job. My income is ...
A: Mitt: Anytime you have income that is not being reported on W-2 you are required to make estimated ...
|
| Unemployment Taxes On Commionised Employees | 5/24/2008 |
Q: I own a mortgage company in Texas. Some of our LO's are W-2 and some are 1099, depending on whether ...
A: Wes: Anyone can file a claim for unemployment. However, if they quit, was terminated for cause, or ...
|
| non profit work | 5/23/2008 |
Q: Greetings, I am a software engineer. If I donate a few hours a week to a non profit project can I ...
A: Stan: Thanks for clarifying the situation. I am sorry that the non-profit is having a difficult ...
|
| Employer wants me to consider use of company truck as compensation | 5/23/2008 |
Q: Mr. Tidwell, I am a glazier, using a company-owned truck to go from my home, to the company ...
A: Brad: Usually at the end of the year the employer will give an employee a 1099 listing the dollar ...
|
| non profit work | 5/23/2008 |
Q: Greetings, I am a software engineer. If I donate a few hours a week to a non profit project can I ...
A: Stan: I donate many hours a week every week here, I have never thought of taking a tax deduction. ...
|
| LLC | 5/23/2008 |
Q: My husband and I buying our primary residence. We are thinking of forming a LLC. We do not own a ...
A: Tamara: In order to set up an LLC, you must have a purpose (business). It appears that it will be ...
|
| Federal Tax Lien | 5/21/2008 |
Q: A few years ago my husband had a Construction company. It was a corporation and I was on the ...
A: Barbara: The IRS gets very ill when it comes to trust fund money. Trust fund money are those ...
|
| Relocation Repayment and Taxes | 5/21/2008 |
Q: John, A job didn't work out and now I am being asked to repay relocation expenses (~20k) and a bonus ...
A: Jerome: When you file your return you will not have the income that you have paid taxes therefore ...
|
| Employee Car Allowance | 5/19/2008 |
Q: My employer has decided to go from mileage reimbursemnt to a monthly car allowance. I have been ...
A: Jon: Yes it will be imperative that you keep up with the miles you drive on the job. That will be ...
|
| NY tax implications for OR employer | 5/15/2008 |
Q: We are an Oregon State company. One of our technical employees is moving to NY but we want to retain ...
A: Mark: Your employee will still be your employee you will report his income for state tax purposes ...
|
| Per Diem | 5/15/2008 |
Q: I want to know if per diem is subject to ss tax and Medicare tax? I though per diem was suppose to ...
A: Charlotte: No its not subject to social security or medicare tax. Per Diem is what an employer can ...
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| Employee vs Free lancer and tax withholding | 5/14/2008 |
Q: I have a former employee that is now doing freelance work for us in the same calendar year. Should ...
A: Culver: Usually if a person has wages from you then all their income will be considered wages ...
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| ESOP | 5/13/2008 |
Q: I'm sorry Mr. Tidwell for repeating this question, but after reading my previous question, I found ...
A: Sandra: First of all the members of the ESOP have a vote to elect the member(s) of the board of ...
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| per diem rules | 5/12/2008 |
Q: My husband has always went out of town and got per diem. They are given X amount per day and if ...
A: Norrie: The IRS allows a company who send an employee to a distant place to work some latitude on ...
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| Business use of home | 5/10/2008 |
Q: I have converted a covered carport into a studio to be used strictly for business. Can I deduct the ...
A: Alex: You may not deduct the cost of converting the carport. However, you may depreciate the cost ...
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| excessive mileage taxes | 5/8/2008 |
Q: I recently payed $4500 in excessive mileage fees 30000 miles@ .15 cents per mile. I paid the $4500 ...
A: Mr. Frazier: Its not mentioned in you question, but, I am assuming that the excessive mileage is on ...
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| Tax rate for a wage settlement from previous employer | 5/6/2008 |
Q: Half of my employment settlement was paid to me as wages. I have two concerns. One being, I told the ...
A: Kris: In one case you had to little taken out and the other you had too much taken out but by the ...
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| daycare tax question | 5/6/2008 |
Q: Let me give you some backqground before asking my question. Married filing jointly Gross $146000 ...
A: Dusty: The money given to you would be taxable, if on the other hand, the company pays the money ...
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| primary residence | 5/5/2008 |
Q: I own a house that was my primary residence from 2001 to 2007. During that time the value of the ...
A: Shakti: I do not speculate on illegal activities. When you use the term "mock" sale or some scheme ...
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| sale of residency | 5/5/2008 |
Q: My wife and I have been living in a nj residency since 1994 through Nov 2006 when we moved to ...
A: Axel: For federal purposes it makes no different in which state you reside, but, for state purposes ...
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| Colorado Unemployment (Act 8-76-102(3)) | 5/2/2008 |
Q: Received a notice from a client that they have a NOTIFICATION OF POLITICAL SUBDIVISION GROUP RATE ...
A: Beverly: I am not familiar with the Colorado Unemployment Act. However, In Tennessee a political ...
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| Commission only compensation | 4/29/2008 |
Q: Beauty shop owner pays commission only to hairdresser. Does she needs to withhold Social security ...
A: Ann: I know that other people make comments that commission only make a person an independent ...
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| dependants | 4/29/2008 |
Q: My mother who is 70 has recently moved in with us, her only income is Social Security about 13,000 ...
A: George: Probably not. You have to prove to the IRS that you paid 1 dollar more than the total of ...
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| Corporations/LLC | 4/28/2008 |
Q: I have a question about setting up a corporation or LLC (Limited Liability Company). I have an ...
A: Mr. Raza: Either a corporation or an LLC will protect your personal assets from the potential ...
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| Non-Equity Partner and K-1 | 4/17/2008 |
Q: I am a non-equity partner in a law firm. I get the same amount of money per month, regardless of ...
A: Bryan: You find yourself in the same situation that a great number of people, who do not have your ...
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| deducting boat slip fees | 4/17/2008 |
Q: I understand that boat slip fees are generally not deductible. However, what if the slip fee is a ...
A: Bill: Its the 2 to 3 year rule. That is over a 3 year period it must make a profit during one year ...
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| deducting boat slip fees | 4/16/2008 |
Q: I understand that boat slip fees are generally not deductible. However, what if the slip fee is a ...
A: Bill: If it is a business expense.. It is a business expense. If the boat is for entertainment of ...
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| Form 4794 Part 1- Changed Autos | 4/16/2008 |
Q: My wife is a realtor. In 2007 she got a new car, and I now drive her old car. There was no "sale" or ...
A: Charles: As long as she still has title to the vehicle she has not disposed of it. I interpret ...
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| teacher deductions | 4/14/2008 |
Q: I have a question regarding expenses related to educators. I am a very dedicated teacher and spend ...
A: Renee: The instructions are an educator (teacher) tax credit. All tax law discriminates against ...
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| Employer failed to withhold | 4/14/2008 |
Q: My question is... At the beginning of a new job last year I filled out all of my tax forms like ...
A: Rebecca: The employer is not liable for the income tax. They may be liable for interest and ...
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| SSI and Head of Household | 4/14/2008 |
Q: I have taken care of my father for the better part of 2 years, he gets SSI 540.00 per month and he ...
A: Ms. Fletcher: You can if you pay more than 50% percent of his up keep. That is all of his ssi ...
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| taxes | 4/14/2008 |
Q: If i am late on my taxes but money is due to me what will happen
A: David: Could be charged for failure to file tax return on time, could be a monetary amount, could ...
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| deductibles | 4/13/2008 |
Q: I have patented an idea of mine. In 2007 I paid a company to handle the marketing and licensing of ...
A: Mr. Collins: Please review at www.irs.gov under forms and publication information on form 1040 ...
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| cost basis of stock options | 4/11/2008 |
Q: company gave me shares of stock,how do i treat this on fed tax return? what do i use for "cost ...
A: Jon: When you exercised your stock option, the option price was $38.15 x 100 shares = $38,150.00. ...
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| Sale of Farm Land | 4/10/2008 |
Q: My father and his siblings inherited 30 acres of farm land. They are selling and each stands to gain ...
A: Ms. Slattery: The sell of this property is what is called a partition which requires all the ...
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| Sale of Farm Land | 4/9/2008 |
Q: My father and his siblings inherited 30 acres of farm land. They are selling and each stands to gain ...
A: Ms. Slattery: If the estate is selling the property and the children will be receiving distribution ...
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| Medical Expenses | 4/9/2008 |
Q: Both my husband and I became self-employed this year and will have to have pay insurance out of ...
A: Jenn: Yes it appears that you may be able to deduct certain medical insurance, unless congress ...
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| auto mileage and depreciation | 4/9/2008 |
Q: What is this depreciation? I take standard mileage expense but Turbo Tax is forcing me to answer a ...
A: JP: It does not have anything to do with mileage deduction. It is getting information to determine ...
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| Taxes for newly formed LLC | 4/8/2008 |
Q: I formed LLC in 2007, If there is no revenue, how would you file taxes for your LLC? I am not clear ...
A: Sean: If you had no revenue did you have expenses? John Sean: The IRS prefers that when you ...
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| State Tax | 4/8/2008 |
Q: I live in Texas and working for an IL-based consulting company and worked for two clients for year ...
A: Mr. Kahn: If you live in Texas an when you work did you travel to Illinois an Michigan to perform ...
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| nj 1065 filing fee | 4/7/2008 |
Q: will have to pay a filing fee even though i had no gain or loss with my business, i formed an LLC ...
A: Mr. Gallo: I am not understanding you question. If you have an LLC that is a charter filed with ...
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| claiming dependants | 4/4/2008 |
Q: My brother is legally married but separated and since when he was wife and was the only one working ...
A: Yolanda: These issues will have to resolve by court. He should have been able to use them on his ...
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| claiming dependants | 4/3/2008 |
Q: My brother is legally married but separated and since when he was wife and was the only one working ...
A: Yolanda: No. John Yolanda: I could spend all day in the land of possibilities on how your ...
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| schedule C small business loss | 4/3/2008 |
Q: In general, can you recommend a strategy to deal with a small business net income loss due to ...
A: Peter: I know you get to expense items used in your business but not loans. You get to expense the ...
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| schedule C small business loss | 4/3/2008 |
Q: In general, can you recommend a strategy to deal with a small business net income loss due to ...
A: Peter: As you know from accounting 101 start up cost is not expense. Loan interest is an expense ...
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| Tax per month | 4/2/2008 |
Q: I am moving to Austin, Tx and am in the process of purchasing a home. I will be making ...
A: David: If you are single your income tax rate will probably average around 18%. Your social ...
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| form w4 | 4/2/2008 |
Q: How can I file my taxes in a way where they will take out the least amount of money? I currently ...
A: Lyra: You must correctly file your W-4 form according to your status. If they are taking out too ...
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| checks due in may | 4/2/2008 |
Q: I heard that the checks will be issued in order of the last two digits of your social. That i may ...
A: Kara: Yes it is true it is based on the last 2 digits of your social security number. If you use ...
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| Army contractor Afghanistan | 4/1/2008 |
Q: I LIVE in MA. I work (part time) 6 months out of the year in Afghanistan as a civilian contractor. ...
A: Phillip: If you live in Maine and can vote in Florida, must have a listed address in Florida to be ...
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| schedule C small business loss | 4/1/2008 |
Q: In general, can you recommend a strategy to deal with a small business net income loss due to ...
A: Peter: Are you a priorship or are you an LLC. I am not understanding the start-up expense that you ...
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| 1040EZ adn 540EZ | 4/1/2008 |
Q: Can I use a 1040EZ and a 540EZ if I have both, a 1099-R and a W-2 to attatch? Thank you.
A: Pat: If you have a 1099-R, distribution of pension or annuity, you must use a 1040 long form. I do ...
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| Relocation Bonus Repayment | 3/28/2008 |
Q: I have a tax question I hope you can help me out with. I am relocating and as part of the ...
A: Curtis: If the money is paid to you and you repay it before the end of the year it should not show ...
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| Capital Gains and Tbills | 3/27/2008 |
Q: If I received Tbills as a gift and cashed them in, is the first 10K of the interest taxed or not ...
A: Carlinda: Who ever give a gift and its over the ceiling must pay the tax on the gift. If you have ...
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| Tax on lost wages settlement | 3/27/2008 |
Q: I received a settlement for lost wages due to auto accident while on the job. I have heard ...
A: Paula: If the law suit was against someone other than your employer the answer is no, its not ...
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| 1099-patr | 3/26/2008 |
Q: I have a 1099-PATR with box 1 $13,199 (Patronage dividend)having to do with an ethanol producing ...
A: Patricia: I am sorry but I have never dealt with a 1099-Patr before either. I am not sure what ...
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| paying taxes as contracted labor | 3/25/2008 |
Q: my husband recently got a new job(haven't even seen a paycheck yet)as a contracted trucker. i have ...
A: Star: That I can not answer because you have to calculate your net taxable income for the year. You ...
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| Real Estate | 3/24/2008 |
Q: My father is elderly and has a home in his name that is empty and does not live there and also some ...
A: Georgia: That is an incorrect assumption. The money is his and you are only on the account in case ...
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| paying taxes as contracted labor | 3/24/2008 |
Q: my husband recently got a new job(haven't even seen a paycheck yet)as a contracted trucker. i have ...
A: Star: 1040 ES is the form you use to report income, social security, and medicare taxes. When you ...
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| section 199 deduction | 3/24/2008 |
Q: who qualifies to take this deduction and what determines the amount of the deduction
A: Dennis: A business with "qualified production activities" can take a tax deduction of 3% from net ...
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| Tax deductable mileage | 3/23/2008 |
Q: I work for an company as a transcriptionist. From Dec. 2005 to March 2007 I worked at the company's ...
A: Naomi: Your place of work is the office where you worked before they allowed you to work from your ...
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| Dependent Income | 3/23/2008 |
Q: My daughter lives at home, is a full time college student and managed to work enough to earn ...
A: Keith: She will file her own return. But it will be better if she claims herself on her own return ...
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| estimated tax 2008 - how do foreign credits work ? | 3/23/2008 |
Q: All my income is pension and interest from the UK. Say my 2007 US tax was 15000 less 12000 in UK tax ...
A: Mr. Hill: I can not answer that question only you and UK know when or if they will be taxing you in ...
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| Tax deductable mileage | 3/23/2008 |
Q: I work for an company as a transcriptionist. From Dec. 2005 to March 2007 I worked at the company's ...
A: Naomi: You can deduct work related mileage expense. However, you can not deduct commute travel to ...
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| Tuition Tax Question | 3/22/2008 |
Q: I am a student and have over $12,992 in tuition costs. I have no idea how claiming my tuition works ...
A: Tara: I meant for you to pencil in a 1040 to see which form would be best for you to file. You ...
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| semi leasing | 3/22/2008 |
Q: if we lease a tractor/trailer from a company we drive for and receive a 1099, can we take the ...
A: Tracy: Do you own a trucking business? If you own your own business then you must file a 1099 ...
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| my father in law passed do we need to file his taxes | 3/21/2008 |
Q: My father in law passed away June of '07 he didnt have anything or money but we were granted to take ...
A: J: To many unanswered questions you need to seek the advice of a local attorney on tax matters ...
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| Taxable per diem | 3/19/2008 |
Q: Taxable per diem I am a resident of Florida and currently working on contract with a company in ...
A: Pius: You will file a 2106 form to list the expenses that you had and hopefully will be enough to ...
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| Taxable Social Security | 3/19/2008 |
Q: I received Social Sedcurity Disability from 1992 until 2002. In 2007 the Social Security ...
A: Michael: I have never looked into this situation before. If the lump sum is for benefits that ...
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| 1099C - Cancellation of debt | 3/17/2008 |
Q: I received a 1099C form.so do i report the 1099C income in the ONLY in federal form or in federal ...
A: Mr. Vaidyanathan: I do not know about your state. But on the federal return you must report it. ...
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| residences in two states | 3/16/2008 |
Q: ...my wife and I own property in Florida. After we retire in one year we plan on buying property in ...
A: Vince: You will be taxed according to what state is your state of residence and the state you are ...
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| W-2 and 1099 | 3/16/2008 |
Q: Mr Tidwell my position within the company i work for is marketing and sales. Upon employment we ...
A: Ms. Moore: The company should have reported the commission and base salary on a W-2. This does ...
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| Auto deduction | 3/15/2008 |
Q: I blew the engine in my vehicle which is used 40% for buisness and have had to relace it. Can I ...
A: Dan: You can deduct the business use of a vehicle. If you are deducting for business use of the ...
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| cash winnings | 3/15/2008 |
Q: i was told that if you win a cash prize of $600 or more there is a tax form to fill out. Do you ...
A: Barb: You must report all your income from ever source. The $600.00 amount you are referring too ...
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| paying tax on domestic help | 3/14/2008 |
Q: My mother in law had a hip replacement last year at 87 years old.Since she has been home ,one of her ...
A: Teri: If she is paying her Granddaughter to tend to her then yes it would be wages. The ...
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| 1099-Misc vs. W-2 | 3/14/2008 |
Q: I'm trying to determine whether earnings were reported correctly for a student. The student ...
A: Ryan: No the student is not exempt. If the child has been used as a dependent on a parent(s) tax ...
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| When does interest accrue from on IRS tax refunds? | 3/14/2008 |
Q: If I apply now to amend my 2006 IRS personal income tax return and am entitled to a refund on the ...
A: David: the irs will consider that you failed to file your income tax return correctly claiming all ...
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| estate tax | 3/12/2008 |
Q: I am a dutch citizen, so is my mother. The brother of mother (he is a Canadian citizen, who lives ...
A: Mr. Buijvoets: I am sorry but I do not pratice Canadian tax law. I am unfamiliar with their ...
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| Florida resident working for a Georgia company | 3/11/2008 |
Q: I read where I can deduct my Georgia state taxes on my Schedule A Fed return, but should I file ...
A: Ray: Do you work in Georgia or do you work in Florida? If you work in Florida only then you do not ...
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| IRS Audit | 3/11/2008 |
Q: Good Morning and thank you for making yourself available for advice. I've been married for 5 years ...
A: Aneika: The IRS can go back 6 years without question and go back even further if fraud or smoother ...
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| Employee and IC | 3/10/2008 |
Q: I work sales at a Scuba store (employee). I am in the process of earning my instructor ...
A: Kim: It is very difficult to be both the master and the servant of the same business. The ...
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| minor children and taxes | 3/10/2008 |
Q: I am a step father who has two step sons, ages 13 and 19. My wife is the mother of the two ...
A: Vince: The age of majority is 18. For tax purposes if the child lives with you and you pay for ...
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| Fitness center asset lives | 3/8/2008 |
Q: How many years should fitness equipment be depreciated over? Do you know where I can find back up ...
A: Mr. Simpson: I am not sure of the category the fitness equipment falls into. However, at ...
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| taxes and 401K | 3/8/2008 |
Q: I am 33 years old and would like to purchase my first home. I have a 401K worth over $100,000 thru a ...
A: Afrique: Early withdrawal of a 401K has a hefty penalty attached. It is 10% plus paying income tax ...
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| alien no resident , return tax form to fill | 3/8/2008 |
Q: I am an Italian . I live in Italy and I am consultant of American Research Institute ( Space ...
A: Angonio: This not an easy question to answer. Some additional information is needed to complete my ...
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| 1099 filed inadvertently for an S-Corp | 3/8/2008 |
Q: I am a Realtor who has incorporated. I subcontract for another real estate company- to which I ...
A: Jenny: It is not to late for them to correct this problem. It appears that they do not "want to ...
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| nonresident alien taxation | 3/7/2008 |
Q: Tidwell, I am an unemployed US citizen, married to a Swiss and living in Switzerland, where he ...
A: Anna: Mere ownership of property does not make one liable to the United States Government for ...
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| receiving a bonus | 3/7/2008 |
Q: I work for a preschool that is housed within my church, and the church wants to give me a bonus, but ...
A: Jody: The bonus must be reported as wages and the proper taxes withheld for both state and federal. ...
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| tax on life estate | 3/7/2008 |
Q: i was deeded fathers home october 9th, 2007. im currently getting a life estate deed for him. should ...
A: Mary: You have not provided me enought information to answer your question correctly. I really do ...
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| Partial sale of inherited stock | 3/7/2008 |
Q: I live in Virginia and handle my Mother-In_laws financial affairs. My Father -In-Law passed away in ...
A: Jarl: As a trustees of a trust selling the assest of that trust should be prudent. The trust could ...
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| income tax check garnished | 3/6/2008 |
Q: for the last 4 to 5 years, I have had my tax income checks garnished to pay off student loans, I ...
A: Wanda: I would let you have all your refunds. However, I am not the IRS who follow the law written ...
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| 1099 misc | 3/3/2008 |
Q: Sir As an independent contractor for DoD, should I have received a 1099 misc from the ...
A: Alan: A 1099 is only for personal service. If you are contracting you are operating a business ...
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| 1099's | 3/2/2008 |
Q: My father is a contractor. He hired several people to work for him but never collected and ...
A: Ms. Stier: He should have collected names, social security number, and address. If he hired people ...
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| college student | 2/29/2008 |
Q: If we claim our son as a dependent, but he has supported himself for 7 out of the 12 months (5 ...
A: Eileen: For 2007 your son does not meet the must live with you for six months of the year test to ...
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| tax ramification | 2/28/2008 |
Q: My question is in reference to a Short Sale. I have a property that I own for the last 10 years, I ...
A: Mr. Pazmino: What do you mean by a short sale. I can not answer the question regarding what the ...
|
| Work tools | 2/27/2008 |
Q: I've been a heavy equipment mechanic for last 20 yrs. I've heard as a mechanic you might be able to ...
A: Nelson: If as an employee you are required to have and maintain tools at your own expense can ...
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| Restricted Stock Units - how to treat - clarification question | 2/27/2008 |
Q: I have a follow up question to the response made to a posting on 3/27/06 re: Restricted Stock Units ...
A: Rebecca: I believe that TURBO TAX has correctly calculate the proper place to report any income ...
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| Question on state tax filing | 2/26/2008 |
Q: My employer is running my payroll in NJ and I am residing in VA since 1 year. I don't have any ...
A: Haritha: Your employer should be reporting your income to VA for state income purposes. If they ...
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| Birmingham occupational tax | 2/26/2008 |
Q: I was transferred to another store within the "technical" city limits. I have worked at many stores ...
A: Laura: Your income has not dropped your tax has increased. It is your take home pay has decreased. ...
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| Deductible court ordered payment to ex | 2/26/2008 |
Q: NM State court had be pay my ex spouse approximately one year of my military retirement pay even ...
A: Mr. Fluitt: Refer to line 31 of form 1040 you put in the amount you paid your ex-wife an enter her ...
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| Unreimbursed employee business expenses | 2/25/2008 |
Q: "If your work location is considered temporary you can deduct the expense. A work location is ...
A: Shane: Now the picture is clear. You work for a company. That company contracts out your services ...
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| Unreimbursed employee business expenses | 2/24/2008 |
Q: "If your work location is considered temporary you can deduct the expense. A work location is ...
A: Shane: I am confused about your question. Are you an employee or do you have your own business? ...
|
| My car allowance was reported on a 1099-MISC | 2/24/2008 |
Q: I received a 1099-MISC for a car allowance that my company is paying for. I was reading on IRS ...
A: Jorge: Car allowance is a W-2 item not a 1099. I do not know what I can say that will be correct. ...
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| primary residence | 2/22/2008 |
Q: I would like to generate extra income by open my primary home as a bed and breakfast. What would the ...
A: Heidi: If a portion of the house is still a residence, an a portion of the house is a bed an ...
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| Tax Question | 2/22/2008 |
Q: My daughter married in November 2007. Since they lived together for most of 2007, they have decided ...
A: Debbie: Who's name is on the 1098's and who's social security number is on the 1099? That is the ...
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| tax liability buyout | 2/21/2008 |
Q: my ex wife is requesting that I buy her share of ownership in our house. She is on the deed along ...
A: Michael: If you pay her what she request you will add that to the cost of the house for future use ...
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| 1098-t STUDENT FORM | 2/20/2008 |
Q: WHEN I EMAIL YOU, AND ASK YOU ABOUT THE 1098-T THAT I RECIEVED AND ASK YOU WHERE TO FILE IT AND YOU ...
A: Justin: The 1098-T indicate what you have paid in the list year for qualified education expenses. ...
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| Per Diem | 2/15/2008 |
Q: I am an engineering contractor negotiating for salary for a new position. I will be receiving a w2 ...
A: Vincient: Per diem is for living expenses outside of you area. Usually per diem is a set amount ...
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| Incorrect 1099 | 2/14/2008 |
Q: I received a 1099 from my employer that included every expense for which I was reimbursed, such as ...
A: Garman: You will need to file a 2106 form to deduct these expenses. However, you will be required ...
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| Inheritence | 2/13/2008 |
Q: I migrated to canada a year back and now my parents want to gift the money(transfer properties) they ...
A: Nad: Yes, depending on the amount of life time gift, you will be required to report the gift an pay ...
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| military, out of state NYS resident | 2/12/2008 |
Q: I'm active duty military and live out of my state of residents, which is NY. I am looking for forms ...
A: Brian: You will need to contact the taxing authority for the forms. Try www.state.ny.com to see if ...
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| gift of money from parents sale of home to kids purchase of home | 2/11/2008 |
Q: My mom sold her house last year and gave us the money she made from the sale of the home so that we ...
A: Mayelin: More than likely she will have to pay gift tax on the money. It depends on the amount and ...
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| Business use of vehicle | 2/11/2008 |
Q: I worked as an independent contractor for approx. 7 months this past year. The vehicle I used was ...
A: Leah: I did research the form at www.irs.gov. When a person use the vehicle mileage method then ...
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| Tax deduction of student loan interest paid in foreign bank | 2/10/2008 |
Q: I have taken out a student loan in 2003 from a bank in India to study (Masters) here in US. And I am ...
A: Kaushal: You may be able to deduct the interest. Go to www.irs.gov and read up on the IRS ...
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| Withholding taxes | 2/10/2008 |
Q: Is my wife's new employer ..withholding the right taxes ? We see S.S.Tax,Medicare,and Pri-State ( ...
A: Wendell: It may be easy to find out by asking the employer what PRI-TAX includes. Since the ...
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| I NEED HELP | 2/9/2008 |
Q: I am a full time college student. I worked and filed exempt because of that. I dont know if I am ...
A: Theresa: No one is exempt from federal income tax. What you are paid is required to reported with ...
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| 1040X | 2/8/2008 |
Q: While e-filing my taxes somehow I did not enter my husbands W-2's. Now I am trying to fill out the ...
A: Riki: I do not have your tax return in front of me. Therefore, I am clueless of what figures you ...
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| filing a 1099 | 2/8/2008 |
Q: I received a settlement for a discrimination suit in new Mexico, I was told by the representative ...
A: Amanda: You need to consult with your attorney on this matter. I do not know and I have no ...
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| Business use of vehicle | 2/8/2008 |
Q: I worked as an independent contractor for approx. 7 months this past year. The vehicle I used was ...
A: Leah: Why are you using form 8832? That form does not relate to property depreciation or business ...
|
| take out food tax in Atlanta Ga | 2/7/2008 |
Q: can a take tax be charged to your food order if you are not eating inside the restaurant?
A: Ms. Fleming: Do you mean can the restaurant add a take-out charge to your dinning-in experience. ...
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| IL Unemployment taxes | 2/7/2008 |
Q: Last year I received unemployment wages for six weeks from IDES. Half way thru those six weeks, ...
A: Shari: There is no way to show on your tax return that you have a credit. The IDES 1099 is ...
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| Health Insurance and Taxes | 2/5/2008 |
Q: I wanted to know if I could claim myself if I live on my own but I am still on my parents health ...
A: Brittany: If you are 18 years of age or older an not a student, your parents can not claim you as a ...
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| capital gains? | 2/5/2008 |
Q: I purchased a home in Texas in Aug 2002. I'm in the military and have recently been put on orders ...
A: Edward: If you have previously claimed the one time exemption on the sale of a house you could ...
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| filing in canada | 2/5/2008 |
Q: can i file for myself to live in canada and then file for my husband and son, if yes how long will ...
A: Odetta: To file in the USA you must work an live here. If you live in the USA an work in Canada ...
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| filing | 2/4/2008 |
Q: can i file for myself to live in canada and then file for my husband and son, if yes how long will ...
A: Odette: Does your husband live and work in the USA. If you have no United States Income there is ...
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| 1099 & deductions | 2/4/2008 |
Q: My husband's employer of the last 7 years has started with the 1099 business the last year and a ...
A: Ann: Please go to www.irs.gov an review the instructions for schedule c. That is an individual ...
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| meal allowances | 2/3/2008 |
Q: I am a paramedic and my husband is a police officer. We've been told we can deduct a flat rate per ...
A: Monica: Review form 2106 and the instructions at www.irs.gov. Then e-mail me back your additional ...
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| Fraudulent W2 | 2/3/2008 |
Q: I worked for an employer in 2003 and quit working for him in May of 2003 and opened my own business ...
A: Sandra: I have not a clue. Since, I am not privy to the details that you discussed with the IRS, I ...
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| Tax Question!! | 2/3/2008 |
Q: I have a somewhat complicated tax question!! In January of 2007, my then fiance (we were NOT ...
A: Jennifer: I am truly sorry, But, No you may not claim that expenses on your return. You are not ...
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| Home Improvement Expense Deductions | 2/2/2008 |
Q: Over the past 5 years I have made many improvements to my house, ie built large deck, painted and ...
A: Todd: Home improvement cost can be added to the cost basis of your house. But, it can not be ...
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| W-2 | 2/2/2008 |
Q: My daughter a student worked part time in 2007. She received her W2 form from her employer which ...
A: Bill: No it does not. It probably is that the accounting firm was not paid to do work after a ...
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| 401k early withdrawl - can I avoid it being included in income? | 1/31/2008 |
Q: I withdrew $36k from my 401k to use toward building a home. Now, my income is going up by $36k. ...
A: Brain: No there is not a way. Because the money that goes in is pretax money. Money that the ...
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| Patronage dividends | 1/30/2008 |
Q: I'm doing my tax for this year. I received $2277 in box 1 of 1099-PATR (Patronage dividends) from ...
A: John: Please provide me with more detail. Why did you receive a 1099. This type of 1099 is given ...
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| Office 2 | 1/30/2008 |
Q: I have an office in which I pay rent. I was going to write the rent off as an expense. I have a ...
A: Peter: If you have an office it is difficult to claim also a home office. Please go to www.irs.gov ...
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| Spouse Income | 1/29/2008 |
Q: My question is that if my spouse is not a us citizen and doesn't pay state tax. Can the state of ...
A: Riggs: I am not following your train of thoughts. If your spouse lives in the State of Alabama, ...
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| granddaughter | 1/27/2008 |
Q: our 20 yr old pregnant granddaughter came to live with us last may when she was 4 mo. pregnant we ...
A: Terry: Your granddaughter is 18 years of age and over. Therefore, she is no longer a dependent of ...
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| tax query | 1/27/2008 |
Q: I am from New Jersey and working and living in middle east for ceratin project (length not clear). I ...
A: John: The value of the house is income unless its for the convenience of the employer. The ...
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| CLAIMING MY DAUGHTER | 1/24/2008 |
Q: IM 17 AND I HAVE A DAUGHTER AND WE BOTH LIVE WITH MY MOM, I DO NOT HAVE A JOB. MY BOYFRIEND OR MY ...
A: Kasie: If you did not work during the year of 2007 you have no return to file. The question ...
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| I have recieved a 1099 and a w2 from same employer | 1/24/2008 |
Q: I worked for a company for 5 months as an employee (40 hours a week, paid hourly, same hours each ...
A: Jenni: It would be in her best interest to give you a w-2 and correct her quarter reporting forms. ...
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| tax return money and shared custody | 1/24/2008 |
Q: I am separated and we share custody, I filed my taxes for 2007 and I am getting a refund, do I have ...
A: Gail: Since you have already filed your return and will be getting a refund, I do not see how the ...
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| 1099-C | 1/24/2008 |
Q: Cancellation of Debt. I had credit problems 3 years ago and settled my debts for all my credit ...
A: Mike: The 1099-C is for the same period that you have already worked out withe the IRS. I would ...
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| GAIN ON SALE OF BUSINESS | 1/23/2008 |
Q: I am selling our business which we owned for more than 1 year. At the closing date, I need to submit ...
A: Mr. Dixon: The price allocation statement is not what you will use to file the tax return on the ...
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| Claiming a child | 1/22/2008 |
Q: I have a quetsion about claiming a child. My girlfreind who lives with me has been battling a crud ...
A: Michael: The most important one is with whom did the child lived during the year. The child must ...
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| Claiming a child | 1/21/2008 |
Q: I have a quetsion about claiming a child. My girlfreind who lives with me has been battling a crud ...
A: Michael: If someone else has custody of the children then your lady friend can not claim the child ...
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| ssdi | 1/20/2008 |
Q: I recently(12/04/07) recieved a social security back payment check for 23,300 with the assistance of ...
A: Mr. Stanley: There is no legal tax form that you can attached to a 1040 that will allow you deduct ...
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| bankruptcy | 1/20/2008 |
Q: I just claim bankruptcy 1/08 my ex report me to the IRS b/cuz they claim all three children and told ...
A: Mary: I am sorry you had to file bankruptcy. But, I am more sorry that I will not be able to ...
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| tax question | 1/19/2008 |
Q: i was wondering if i can use my last check stub to do my taxes online for free and is the id number ...
A: Ms. Spann: I can not answer the question about the number on the check stub, since, I have not seen ...
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| 1099-misc | 1/17/2008 |
Q: I have 3 questions that I cannot seem to get a direct answer from the IRS for. I work for a ...
A: Zoreen: You should drop the dba out of the name. You should give the celebrity a 1099 for the ...
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| Taxes and deductions | 1/15/2008 |
Q: This is a long story.i hope you can help.my husband and i went through legal separation and he sold ...
A: Ms. Stone: Its not the worst mess I have seen. However, I believe you can work thought this ...
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| Kentucky and Missouri Tax Dillema | 1/15/2008 |
Q: This is a really long story...but hopefully you can help! I live in Missouri normally, but have ...
A: Joshua: File a tax form for each of the taxing authorities stating your case. You will owe some ...
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| Going from 1099 to W2 | 1/14/2008 |
Q: I have been a contractor for a small design firm for 4 1/2 years. I am treated as an employee and ...
A: Andrea: He will be required to give you a w-2 at the end of the year. Which will summarize all the ...
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| TAX LAW-DEPENDENTS | 1/11/2008 |
Q: IF TWO PEOPLE UNDER THE AGE OF 18 HAVE A CHILD, BOTH UN-EMPLOYED, WHO ? IF ANYONE IS ALLOWED TO ...
A: Janet: As a general question I can not answer that question. The person who has the child is a ...
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| Non-custodial parent claiming dependent | 1/11/2008 |
Q: My ex and I have a nine year old son together who lives with her, that i have never claimed as a ...
A: Shad: Unless you have a court order to the contrary she is the only one entitled to claim your son. ...
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| Selling home | 1/11/2008 |
Q: Had my home built 11 years ago.....190,000 left on loan will be able to sell it for 390,000. I know ...
A: Mr. Polyefko: Improvements made to a house are added to the cost or value of the house. Repairs ...
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| Follow Up to a previous answer you gave on taxation of company vehicle use | 1/9/2008 |
Q: Here's theExpert: John L. Tidwell Date: 3/28/2007 Subject: Company vehicle use being taxed Question ...
A: Patrick: The IRS requires companies to declare that a vehicle is parked in the companies parking ...
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| SS8 and Employee Status | 1/8/2008 |
Q: It had been determined by the IRS that I was an employee for the years of 2003 and 2004 after I had ...
A: Nelson: You are responsible for income tax on your own earnings. You are responsible for 7.65% ...
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| NCP claims our child on taxes...never married | 1/7/2008 |
Q: My situation is I have been receiving child support from my daughters father since April 2007. He ...
A: Freda: He can claim anything he wants to claim. However, he has to explain to IRS how he is ...
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| Beneficiary inheritance tak | 1/5/2008 |
Q: I have about $250,000 in an after-tax TIAA account. My worth is considerably less than $300,000. (I ...
A: Steve: I believe it would be better to put it into a single premium annuity so that it will pass ...
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| per deim | 1/1/2008 |
Q: How do i claim my per deim on my taxes,i drive truck i am gone 19 hr aday i sleep in my truck ...
A: Brian: Does the employer give you per diem? If you file a report with the employer and in return ...
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| Sales taxes on cell phones | 12/31/2007 |
Q: We bought 2 cell phones from ATT this weekend. The advertised price, in the store and on the web, ...
A: Donna: If the retail price is listed before the discounting begins then the retail price will rule ...
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| Changing Filing Tax status | 12/30/2007 |
Q: My husband and I have been separated since 1999 and have been filing separate since then as head of ...
A: Ms. Martinez: Under that situation then you both would be entitled to file head of household. If ...
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| copies of paid medical bills | 12/27/2007 |
Q: My step daughter was in a boot camp until august of this year. My husband paid 2,000 a month and his ...
A: Diane: As you know some people after they divorce have no difficulty with each other, however, I ...
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| Tax Prep | 12/26/2007 |
Q: I am self employed web developer and have some questions about prepping my taxes. I have no clue on ...
A: Bryce: You are only required top keep the documents as a historical file to document the expenses ...
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| W2 and 1099 | 12/25/2007 |
Q: John, I recently began helping a friend with his accounting and he is paying his employees both W2 ...
A: Patches: He should correct the errors now if he waits to correct the error later it will cost him ...
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| Filing Independent | 12/22/2007 |
Q: I'm a 19 year old college student and just finished my third semester. My parents claim me as a ...
A: Ryan: Happy Holidays!! You should file your tax return as you should and if they claim you, it ...
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| United Nations and taxes | 12/19/2007 |
Q: I just got an offer (Contract) from United Nations. I am not a US citizen. I have applied for my ...
A: Maddy: If you are living in the US and are working in the US then you must report all wages you ...
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| Christmas bonus taxed | 12/16/2007 |
Q: My Christmas bonus was on a different pay stub than my salary stub this year. They tax my earnings ...
A: Donna: I can not answer that question. It is your employer decision which check book to write the ...
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