Description : Do you pay state income taxes or do they refund you like federal income taxes do?
Last Answer : The last 4 years, I have had to pay the Feds, and got less money back from the State.
Description : What do you think the chances are The President and Congress get rid of mortgage interest and property taxes being a deduction on federal income taxes?
Last Answer : From what I hear, it is Republicans who are talking about closing “loopholes” and capping deductions more than Democrats. But whether it, or anything will happen, I don’t know. And I doubt it could effect this year’s taxes anyway.
Description : What online personal income tax software for both federal and state taxes can you recommend?
Last Answer : I recommend online personal income tax software for both federal and state taxes, as well as software to help you file an extension if you need it.cutt.ly/JjWSDSE
Description : I have Form 1099R in my posession, which Form do I need to file my information in order to receive my federal income taxes withheld?
Last Answer : I have Form 1099R in my posession, which form o I need to file my information in order to receive my federal income taxes with held?
Description : How much do I have to earn before I start paying federal income taxes?
Last Answer : If self-employment is your only income for the year, the filing threshold is $400 for the entire year. This figure is the total amount that you earned before your have deducted your business expenses. You will need to fill out Schedule C or C-EZ to document self-employment income and expenses.
Description : What are deductions allowed when calculating federal income taxes?
Last Answer : The deductions allowed whe calculating federal income taxes are as follow: Mortgage interest, charitable contributions, job expense, miscellanoous expense, medical expense in excess of 7.5 of income, and payment of state and local property taxes.
Description : Which of the following taxes is regressive? a. the federal income tax b. the state income tax c. the sales tax d. the Medicare tax
Last Answer : c. the sales tax
Description : 4. Which of the following taxes is regressive? a. the federal income tax b. the state income tax c. the sales tax d. the Medicare tax
Description : What are taxes that you pay to the federal government?
Last Answer : Feel Free to Answer
Description : I had to pay money to state and federal last year. Can that money be claimed on this years taxes?
Last Answer : how much is $60 add tax You can deduct the 2009 State Taxes you paid in 2010 on Schedule A (if you itemize). Federal tax payments are not deductible according to the IRS Website
Description : Can you pay your federal taxes online?
Last Answer : Yes, you can pay your federal taxes online using a credit card, if you have one. You will need to go to the website stated on your return and then follow the instructions given.
Last Answer : but it is necessary to define what is meant by the word "income" higher taxable income = higher tax or tax base is the amount by which (total) income exceeds (demonstrable) expenses and deductions from ... -employed and companies can push the base to zero or to a loss, regardless of the total income
Description : I inherited an IRA from my mother who passed away last year. Do I have to pay taxes on the IRA Does it go directly on my Income Thanks.?
Last Answer : Yes, you will have to pay taxes. You can take the money lump sum and pay the taxes this year, or you can roll it over into an inherited IRA and pay the taxes as the money is distributed. You will be taxed at your normal marginal tax rate.
Description : My ex wife owe over $20,000.00 in back taxes. Years owed 95,98,99, and 2000.I recently filed this missing years and now have a fairly accurate assessment of what we owe. Unable to pay without filing Chapter 7 or 13.Income is stretched to the limit. ?
Last Answer : If she is your ex-wife, you probably aren't liable for her back taxes. Usually, your legal separation agreement will stipulate that you are each responsible for your own taxes. If so, I would think you're off the hook for this.
Description : do retirees pay state income taxes in Alabama?
Last Answer : No
Description : What is Value Added Tax (VAT)? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods
Last Answer : (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. Explanation: A value added tax (VAT) is a form of consumption tax. A VAT is like a sales tax in that ... under the single tax system based primarily or exclusively on one tax, typically chosen for its special properties.
Description : 6. Assume that Potential Real GDP equals $10,000. National Income is therefore $10,000. Of this, consumers will pay $2,000 in taxes, save $1,000, and spend $7,000 on consumer goods. Business Investment ... . budget deficit of $1000 c. budget surplus of $1000 d. budget deficit of $2000 C C A A C
Last Answer : c. budget surplus of $1000
Description : What is Value Added Tax (VAT) ? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods
Last Answer : A single tax that replaces State taxes like, surcharge, turnover tax, etc.
Description : If you had the option to decide how much to pay in federal income tax,what percentage would you pay?
Last Answer : My effective rate is 15%, according to turbotax. I’d be willing to raise that 2 or 3 percent.
Description : We're Not Legally Obligated to Pay State/Federal Income Tax? It is a voluntary tax?
Last Answer : I can direct you to a law on a dot-gov website that states pretty darn clearly what happens to you if you don’t pay federal income taxes. You go to jail. So if by “voluntary” you mean, your choice is your money or your freedom, the suuuure, it’s voluntary.
Description : I am unemployed. Do I pay federal tax on interest rate income i make from investing in treasury notes?
Last Answer : I would check the IRS website….but you probably do have to pay taxes on that income if it exceeds a certain amount.
Description : Can interest on Home Equity loan be deducted from federal taxes
Last Answer : The interest on most home equity loans is tax deductible. There are limitations to interest deductions for home equity loans depending on what the loan is used for. For more information about home equity loan tax deductions, see IRS Publication 936, Home Mortgage Interest Deduction .
Description : already filed federal where can i file state taxes only for free online�
Last Answer : already filed federal where can i file state taxes only for free onlineâ€â€
Description : Where should I look to estimate my federal taxes?
Last Answer : I, myself use Turbo tax. Turbo tax will estimate and fill your taxes, or you may want to go to your local tax advisor.There are free tax services to help you.
Description : Can I file my federal taxes for free?
Last Answer : Yes, you can file your federal taxes for free. Here's a link to a website that will guide you through how to file your taxes for free. http://www.irs.gov/efile/article/0,,id=118986,00.html
Description : Does anyone think this chart by xkcd should be in schools to help students understand money, taxes, expenses, income and other economic issues?
Last Answer : answer:Could you post a link to the chart? I think such a chart could be an excellent teaching tool. OTOH, such a chart has quite a potential to be abused as a political tool to skew the ... impartial teaching tool or a way to push the whole evil capitalist world view without actually seeing it.
Description : If a person works two jobs can they file seperate income taxes?
Last Answer : answer:Not unless you have two social security numbers. ;-) The payments from the two jobs will be added together. You will have 2 W-2 forms (or 1099 forms) but the amounts will be totaled on your tax form.
Description : Did you know that the general deadline for filing your income taxes this year is April 18, 2011?
Last Answer : I did my taxes early. Thank goodnessss.
Description : Questions about my income taxes?
Last Answer : answer:With all the government shutdown talk last week maybe they were worried (some government sites were going to be closed) that it might not get processed with e-file. I would just spend the two minutes to call and ask in the morning.
Description : an increase in taxes on labor income shifts the labor supply curve ________ and the ________. -General Knowledge
Last Answer : B. Leftward; after-tax wage rate falls X.
Description : Which of the following is the highest income between direct and indirect taxes ?
Last Answer : Between direct and indirect taxes, more income is earned indirectly.
Last Answer : The following are some of the areas of tax-free income of an individual taxpayer: (a) If a government-employed taxpayer receives a special allowance, benefit or perquisite for performing his job duties ; ( ... . It should be displayed in the tax-free income column in the 18th sequence of the return.
Last Answer : : Under the Income Tax Ordinance 1974, two types of taxes are levied: 1) Personal Income Tax 2) Corporate Income Tax
Description : From the following information , compute `GNP_(MP) . GDP_(FC)` = ₹ 3, 000 . Net factor income to abroad = ₹ 200 . Indirect Taxes = ₹ 420 , Subsidies =
Last Answer : From the following information , compute `GNP_(MP) . GDP_(FC)` = ₹ 3, 000 . Net factor income to abroad = ₹ ... A. 3380 B. 2, 980 C. 3020 D. 2, 620
Description : If net national products is given at Market Prices , we `"____"` indirect taxes and `"________"` subsidies to get National income of the economy.
Last Answer : If net national products is given at Market Prices , we `"____"` indirect taxes and `"________"` ... Divide C. Subtract , Add D. Subtract , Divide
Description : If economic subsidies are added to and indirect taxes are subtracted from the national income at market prices , then it will be equal to :
Last Answer : If economic subsidies are added to and indirect taxes are subtracted from the national income at ... prices D. Gross domestic product at factor cost
Description : How much taxes is paid on 16368 on social security income?
Last Answer : My aunt had 23,114 dollars of retirement and 16,368 dollars ofsocial security income.Her social security. Is taxable.How muchwould she have to pay in social security,dollar-wise?
Description : What things dose the government collect income taxes?
Last Answer : Why dose the government collect income taxes
Description : Im on SSDI total income is 10,300.00 do I file taxes?
Last Answer : I'm on SSDI do I file taxes on $10,300.00 total income
Description : Will I be able to deduct a portion of my local property taxes from my NY state income tax?
Last Answer : No. However, you can deduct property taxes from your federal tax liability.
Description : Does QuickBooks include a program for preparing and submitting an individual's income taxes?
Last Answer : QuickBooks does include a program for preparing income taxes for a company but not for individuals. Consider Tax Cut Pro for that capability.
Description : My girlfriend lives with me in my house and doesn't have an income and I supprt her!! Can I claim her for my taxes as a dependent?
Last Answer : No, sorry. You can only claim someone related to you as a dependent.
Description : How long do you have to file any back taxes that where 100.00 or less in total income?
Last Answer : you don't have to file taxes if the total income was $100.00.
Description : I'm 76 years old with only social security as income. Is there any breaks and/or assistance on my property taxes If so, how do I go about receiving it Thanks for any info.?
Last Answer : I am not sure where you are located, but here in Florida we have a "Homestead Exemption" where you can reduce your property's appraisal by $25,000.00 thus saving on your property taxes ... this application reviewed however in extreame cases the application may turned in within the 30 day time frame.
Description : In What Ways Are Taxes Unfair To The Middle Income Group Than The Low Income Group?
Last Answer : The middle income taxer pays for most of the programs and government offices. Lower tax brackets pay too, but at s lesser rate. The people who come out of the tax system the best are the wealthy. They only pay about 15% compared to the middle income earner who is paying 30-35% of their income.
Description : Where do I find income tax return forms for my taxes?
Last Answer : There are many places to find an income tax return form, You can do it online, it is now an option in this day and age. You need to ensure the information is up to date.
Description : How much money will be taken out of my paycheck for income taxes if I get paid minimum wage?
Last Answer : Working through a financial calculator will help to show the value taken out of your paycheck. This website provides a calculator to view what you should expect can be taken out of your paycheck http://www.moneychimp.com/features/tax_brackets.htm
Description : What is the amount of money a person has left of his or her income after taxes called?
Last Answer : disposable personal income
Description : Indian Accounting Standard – 28 is related to– (A) Accounting for taxes on income (B) Financial Reporting of Interests in Joint Venture (C) Impairment of Assets (D) Provisions, Contingent Liabilities and Contingent Assets
Last Answer : Answer: Impairment of Assets
Description : Which one of the following taxes is collected and utilized by the State Governments? (1) Personal income tax (2) Corporation tax (3) Land revenue (4) Custom duties
Last Answer : (3) Land revenue Explanation: The Constitution allocates the taxation of agricultural income to states. Lan revenue is a major source of revenue for states in India. For purpose of ... Commissioner, also known as Collector indicating his responsibility for the realization of all Government revenues.