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Tax question

gun_runner
I got a question for yall, maybe somebody can help me. The question is, do I need to file a tax report, and where do I get the papers to do so? I have a job, but I don't make enough to be required to report it to the gubment. I'm going to a community college on a scholarship (NC education lottery). Should I file taxes? Where do I get the forms and stuff? I thought I could ask the tax folks, but I don't want to go and spend my money and time for them to tell me I ain't gotta do nothin. Thanks.
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Comments

17 comments

Date Votes
  • gun_runner
    If the FDA requires it before a procedure can be done, can it be written off as a medical expense? For example, before receiving a kidney from another live donor, a contract is needed, does the lawyer fees count as a medical expense. Or, speaking hypothetically, if the FDA requires consulting from a therapist before having a sex change operation, is the bill a medical expense?


    For that matter, are marijuana purchases in California for "medical reasons" recognized by the IRS as a medical expense?

    What about mileage to the doctor's office?
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  • gun_runner
    I have made alot of purchases online and avoided paying state tax, but recently a purchase at Autozone.com I was charged $5 tax. The shipment came from South Carolina and I am in Californy. Anyone know if this is ok? I know I'm a cheapskate but on a military supplied budget I scrutinize every penny I give away. Autozone.com claims since they have stores in California they must charge the tax. Any input?

    Let's change the laws and quit bickering about them. One man CAN change the status quo.
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  • gun_runner
    A friend of mine just called me and asked a question I have no idea about nor can I find anything on the internet. He took out his 401K as a lump sum distribution in 2009 after he was laid off. He asked how he supposed to file that on his taxes, he is filing them now and said it doesn't ask him anywhere about 401K distributions. I googled and didn't come up with anything quick.
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  • gun_runner
    hey guys. i have a quick tax question:

    if you worked in more than one state in the same year, do you have to file multiple state returns? if yes, are there any exceptions(such as "no, if you total taxes withheld is <500 etc...)
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  • gun_runner
    For the last 7 years we've been married, we've both held our jobs and filed married (joint). We've also claimed that we were married, but to hold the taxes at the higher (single) rate.

    This gets us a large return every year, one we use for home improvements, etc.

    I know, I know...an interest free loan to the government.

    Well, I'm looking to not do the same next year. We just had our kid and Tori is no longer working and I think we now have the discipline to put that money away each check.

    My question, and I know there are a lot of variables here...

    What do you think I can claim on my with-holdings to come close to even at the time of filing?

    Married, 1 dependent?
    Married, 2 dependents? (probably owe in the long run)
    Married (hold at the single rate, 1 dep?
    Married (hold at the single rate, 2 dep?
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  • gun_runner
    My tax preparer says that even tho I opted to have my taxes taken out in "Married with-holding at higher single rate" category, that the Govt. disallowed this option w/o notice last year. Therefore my employer apparently and w/o my knowledge change my with-holding rate to something else. I haven't spoken to my employer yet about this. Just checking to see if the story sounds plausable. Instead of a usual small refund, I have to pay this year. A LOT!
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  • gun_runner
    We have a piece of property with an old house we bought about 4 years ago. We mainly wanted it because it joins National Forest, has a spring and a branch.
    Anyway the house needed and still needs a lot to be liveable. We put a metal roof and vinyl siding just to keep it from going down hill. The county has doubled the assessed value of the property, so we're thinking about unloading it.

    Question: If we sell, say for twice what we paid for it, do we pay capital gains tax on the profits or what? My wife and I plan on working 4-5 more years then retire, should we keep it until our income is lower? Are there any ways to avoid paying so much tax?
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  • gun_runner
    My ol lady has a little girl from her previous marriage, she has full custody he gets visitation every other weekend. The guy hasnt paid ANY child support whatsoever. Well he has turned his tax papers in claiming the kid! I have spent thousands on diapers and food alone, my question is how is he allowed to claim her when he doesnt have custody not to mention he DOES NOT support his own kid. Do I have any legal recourse? Do any of you know what I should do, besides hang him from an old oak by his nuts?
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  • gun_runner
    What are some things you guys write off. Im just trying to get prepared this year. I just bought a new home etc so I should fair well. I have daycare, insurance, vehicle repairs etc.....

    Thanks,
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  • gun_runner
    My stepson who lives with us and is still in high school, worked a part time job last year and made about 1900 dollars. We claim him as a dependent, but how do we add his income or account for his income when filing? Should he do his own short form even though we claim him as a dependent??
    Thanks for any help!
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  • Mk 19
    Work related milage is one of the big ones for me, last year I drove and was able to clame 75,000 miles at $.49 per mile.
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  • gjshaw
    girlfriend
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  • diver-rig
    Work boots, work clothes, tools, a %of my elec & water for livestock.
    All the taxes I pay on stuff for the farm and live stock.
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  • Sav99
    Certain closing costs including Upfront MIP. Charitable giving, Home Heating Credit. Numerous write offs to apply.
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  • jhimco
    Don't forget any charity you gave, uniforms for work, mileage from the shop or medical expenses if you can if they exceed 7% of your income.
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  • neacpa
    One of the best things a self-employed person can do is to have their children under age of 18 on payroll. If that child is working for you and draws a paycheck, the payroll he earns is exempt from social security taxes and federal unemployment. It would also probably be exempt from the state unemployment but you would need to double check with your state agency on their regulations.

    In 2007, the standard deduction for a single person is $5,350. If the child has income of less than $5,350 then he/she has no income tax (except possibly on investment income). Therefore, if a person was to pay their child $5,350 or less in wages, then the parent has that amount as an expense for their business and there is no tax to the child (and remember, no payroll taxes). This will not interfere with the parent claiming the child as a dependent on their tax return.

    This can also apply if the employer is a partnership and both partners are the parents of the child (i.e. husband and wife partnership). Just remember, the child must receive a W-2, not a 1099.

    This is a great tool to use for future college expenses.

    I am sure all of the H&R Block, Jackson-Hewitt tax professionals and the Intuit software know this and would advise you to do the same.[:D][:D] Yeah, right!!
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  • ripley16
    quote:Originally posted by gun_runner
    What are some things you guys write off. Im just trying to get prepared this year. I just bought a new home etc so I should fair well. I have daycare, insurance, vehicle repairs etc.....

    Thanks,


    ...insurance, vehicle repairs etc.....

    How do you write off insurance and car repairs? If you're self employeed you could write those off before home buying if they were for work. If not, you can't. Are they?
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