| Tax Accounting |
| What are the tax consequences of withdrawing money from an IRA account to pay off other debt? |
1. You have to pay taxes on the amount withdrawn.
2. You will pay a 10% penalty for early withdrawl. ... |
| Gamecrazy does not charge tax with store credit? |
it doesnt work that way...
with most game stores..if u trade in something.. you get credits.. and it can be used towards the next purchase.. and if u have enuff credits to cover that purchase..t... |
| Are medical expenses tax deductible if paid through a flexible spending account? |
No - because a flexible spending account is supposed to be money deducted from your paycheck BEFORE tax deductions.
So you did not pay income tax on that money - thereby, you can not use that mone... |
| What is tax effect for my kid to have savings account ? |
The bank will generate a 1099 if the account earns more than $10 in interest for the year. If it does, and you claim your children as dependents, then this needs to be reported on your returns.
... |
| Tax related querry as detailed below... (NRI)? |
1. If your Indian income in total is below the threshold limit of Rs. 1,00,000 (Indian rupees) in a financial year, then, you are not obliged to file a tax return in India, as you are a non residen... |
| How long does it take to receive tax return? |
Hi Little Mel, here is some information that might be helpful for you.
T1 Adjustments that are sent at the height of "busy" season for CRA could take up to 20 weeks to review.
GST t... |
| I am trying to avoid hiring an accountant. How can I figure out what tax bracket I will be in? |
My husband and I are opening our own business also and have heard some horror stories about friends of ours who tried to do their accounting themselves and ended up owing the IRS thousands. I thin... |
| For Canadian Personal Income Tax form T5013, can I have my spouse claim the Capital Gains? |
As Canada taxes the individual, not the family, your property is yours for tax purposes, even if purchased through a joint account. In practice,but not supported by a strict reading of the Income ... |
| In Texas, how do you apply for a tax exempt number? |
The following link will take you to IRS form 1023 which is the application for exempt status. With instructions it is 28 pages long and rather complex. You may be required to file for incorporati... |
| I'm a freelance designer in the UK. What percentage of my pay should I be putting away for tax? |
First you need to work out what your average annual earnings less expenses will come to. You have mentioned 52K for last year, but it is not clear whether you have deducted your allowable expenses,... |
| Tax exemption? |
I believe that you can change withholding any time you want.
Just a note. you can only claim exempt if you had no tax liability in the previous year and expect to have no tax liability this yea... |
| Self employed tax question, U.K. answers only please? |
I assume that the 拢12,500 figure represents the fees you are likely to charge. You will need to estimate your net profit after deducting the business expenses. It is difficult to give a general f... |
| Tax Calculation for Retainer? |
YOur total income is 360000/- per annum
total tds is 18360
you just claim your daily expneses as petrol bills , Telephone contract labour charges, & Etc.
on 360000/- tax is 78000
your TD... |
| Do I Ihave to pay tax on profits I make in the stock market? |
IRA is a tax deferred account.
Separate taxable investment accounts are taxed as capital gains or income is realized.
The most important tax information of mutual fund products that investors... |
| Can i deduct 8 lacs ( basic exemption ) for caluclating service tax on rent on commercial buildings ? |
The 8 lacs is not allowed as a deduction
You will have to pay service tax on rent - property taxes ... |
| Mortage Interest and Taxes for Income Tax? |
If you and at least one other person (other than your spouse if you file a joint return) were liable for and paid interest on a mortgage that was for your home, and the other person received a Form... |
| 1099S TAX Question? |
yes this would be considered a long-term capital gain on Schedule D. they can use your grandmother's cost basis of $2,500 and proceeds of $5,300 for a gain of $2,800. this would be taxed at ... |
| Where can i go to cash my tax return if i dont have a bank account??I got my check in the mail 2day and dont k |
Usually you can take it to a bank, they will charge a small fee, but as long as you have i.d. it shouldn't be a problem. ... |
| Company tax refund if the company no longer exists? |
The main issue here is why the ATO is still issuing cheques to a defunct company. The wind up process (if done properly) would create an indicator on the ATO and ASIC systems so they know you no lo... |
| Where is My Tax Refund? |
Check the IRS Where's My Refund link on Wed because that is when they update your direct deposit status. Hopefully by tomarrow it will give you a direct deposit date of Friday, Feb 1st, althou... |
| What is the maximum amount I can deposit in savings account in India to save from paying tax ? |
You can not save tax by depositing any amount of money in bank saving account. You can save tax by getting Fixed Deposits from your bank not by depositing in saving account.
You can save tax by ge... |
| Do you have to give bank info to NC Dpt of Revenue representatives when making tax repayment arrangement? |
You are required to supply that information so they will know were to look for assets if you default on the repayment. They will not make the arrangement without it. ... |
| A mistake on my tax return...? |
You should call your bank and ask. If you have a good bank and they catch it, you should not have a problem as I believe the only difference is in the routing numbers. When it comes to the actual... |
| Tax for the foreign salary, but working in India? |
It all depends on her residential status as per Income Tax Act.
If she is resident in India (she was residing in India for 180 days or more during that financial year) all her income whether ear... |
| If you refuse to pay taxes are you refusing to support the USA & our troops in Iraq? Tax does pay for weapons. |
Not that it is that much better to pay for the bombs that just killed 7 Afghan children... and the bullets that killed 650 000 Iraqis. ... |
| Mother died 2/07 Had money market sister's name on it she won't give my half, says puts her in higher tax bra |
(Sorry for your loss)
It would appear that if your Mother had a money market account with your sister's name on it, that when your Mother died, that account would belong totally to your sis... |
| If establishing a retirement fun, then moving to a different state, which state would determine tax level? |
Your question is almost mute because you will be hit with capital gains taxes which are federal. You will not have to pay state income tax on a retirement account because that would be double taxa... |
| UK Income Tax Calculations - how much do we pay? |
You don't pay 40% of the whole amount, tax levels are banded so...
the first 拢5035 is taxed @ 0% (personal tax allowance)
the next 拢2150 is taxed @ 10%
the next 拢31150 is taxed @ 22%
and a... |
| What should I do with my tax refund? |
1st - fix your withholding so no refund this yr. Should never be giving govt an interest free loan & then often paying interest to get it back early. If have no Ira - start 1 for 2007 now. Get... |
| Have you heard about tax "hideaway" for Spec. Interest donors? |
Yes, this isn't anything new. ... |
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