• Why vote GOP / Trump is today's GOP can't even balance the USA Budget / Cut Annual USA Budget Defitc?

    Best answer: Why can't democrats do it? On a side note, democrats use Clinton as an example,....Clinton had a REPUBLICAN controlled congress.


    EDIT, moved it back for ya.
    Best answer: Why can't democrats do it? On a side note, democrats use Clinton as an example,....Clinton had a REPUBLICAN controlled congress.


    EDIT, moved it back for ya.
    22 answers · 2 weeks ago
  • How much would i get from w2 if i only made $2000?

    Best answer: It could be anything, or nothing. What you made is not what determines how much you got. What you make determines how much the government keeps. If you make only $2000, and it was all on a W-2, then they keep all of the social security and medicare tax withheld, but you get back all of the income tax... show more
    Best answer: It could be anything, or nothing. What you made is not what determines how much you got. What you make determines how much the government keeps. If you make only $2000, and it was all on a W-2, then they keep all of the social security and medicare tax withheld, but you get back all of the income tax withheld.

    You get back whatever is listed on W-2 for income tax withheld.

    Plus, if you qualify for the earned income credit, then you get that too.
    15 answers · 2 weeks ago
  • Why did trump spend 900 bill more than taxes collected ? Politically?

    Best answer: Because he is not an accountant and has no problem operating in the red.
    Best answer: Because he is not an accountant and has no problem operating in the red.
    6 answers · 2 weeks ago
  • Is it true that I don t have to declare this on my (father s) taxes?

    So I hate my current job and am looking for another one. This past week, I did a paid trial shift with another company (they do this instead of a traditional interview). I decided this other job wasn t for me and will not be working with them any further. The paycheck I received from this trial shift came out to... show more
    So I hate my current job and am looking for another one. This past week, I did a paid trial shift with another company (they do this instead of a traditional interview). I decided this other job wasn t for me and will not be working with them any further. The paycheck I received from this trial shift came out to less than $100. The manager said that I didn t have to worry about declaring anything less than $500. Is this true? For reference, I live in Orange County, CA.
    18 answers · 2 weeks ago
  • Would my daughter lose her benefits? If my mom claims her on her taxes?

    I work part time and go to College full time. I live with my parents but, I buy all my daughter's needs. I pay rent as well. My question is would my daughter lose her medical if my mom claims her, on her taxes?
    I work part time and go to College full time. I live with my parents but, I buy all my daughter's needs. I pay rent as well. My question is would my daughter lose her medical if my mom claims her, on her taxes?
    6 answers · 2 weeks ago
  • Anyone wanna help me with a few tax questions?

    Best answer: You need professional help. This is too complicated for you to get accurate advice here. You do need to keep complete records for purchases, sales, expenses (shipping is an expense that you can deduct if you pay it, but if you charge something for shipping, you must include what you charge in gross sales), keep... show more
    Best answer: You need professional help. This is too complicated for you to get accurate advice here.

    You do need to keep complete records for purchases, sales, expenses (shipping is an expense that you can deduct if you pay it, but if you charge something for shipping, you must include what you charge in gross sales), keep business mileage (which can be deducted) separate from personal use mileage.

    It can get very complicated and things you are entitled to take and miss can cost you big, and things you get wrong can cost you big. Professional advice isn't cheap but it's worth the expense, at least the first couple of years. Once you understand what is invloved and how the expert does what they do, you may be able to do it yourself.
    13 answers · 2 weeks ago
  • I noticed i have been claiming myself as a dependent throughout the year on my taxes as the only dependent while being single ?

    Best answer: Probably not in a major way. It could mean that you will underpay slightly for the year and may have to write a check for a small and manageable amount next April, instead of getting a refund. This is actually a good thing. The tax you owe is no different either way. The onlt thing that changes is: 1. Refund - you... show more
    Best answer: Probably not in a major way. It could mean that you will underpay slightly for the year and may have to write a check for a small and manageable amount next April, instead of getting a refund. This is actually a good thing. The tax you owe is no different either way. The onlt thing that changes is:

    1. Refund - you paid in too much..

    2. Owe - you didn't pay in enough.

    It's going to depend on how much you earn for the year and whether or not your earnings were steady rather than having some big earning pay periods. If your earnings were consistent throughout the year, you might have a slight underpayment claiming yourself instead of claiming zero. If you had a few big paychecks, say you worked overtime you normally don't, or received a bonus in a separate check, those would be taxed at a higher rate and would balance out the underpayment and you'll come close to breaking even.

    If you expect to have adjusted gross income after your standard deduction of $12,000 of $38,000 or less, you can change your withholding if you want, but I wouldn't. You will stay in the 12% bracket. If you earn more than $50k a year, then some of your earnings will be taxed at 22%, and then you might want to consider making the change to your W-4.

    Remember, that when you do your taxes next year, you won't be claiming yourself as a dependent on the return, as in the past. The dependent exemptions are gone. Your standard deduction almost doubled, and the increase is more than what that lost exemption was worth. In addition, your top, or marginal, tax bracket, went down by 3%.
    9 answers · 2 weeks ago
  • How much can I claim as per diem as a 1099 employee?

    There is a job that pays $350 a day, but out of that $350 I will be responsible for allocating a portion of that to per diem & tax purposes. I am new to the whole 1099 thing, I have heard the max you can claim on per diem is about $180 a day? Is that true? Or does it go off the minimum GSA rates for the state... show more
    There is a job that pays $350 a day, but out of that $350 I will be responsible for allocating a portion of that to per diem & tax purposes. I am new to the whole 1099 thing, I have heard the max you can claim on per diem is about $180 a day? Is that true? Or does it go off the minimum GSA rates for the state you're working in? Thanks everyone for answering.
    8 answers · 3 weeks ago
  • Is it possible to convert a vacation home to main home?

    Best answer: Yes, but the amount of gain you are allowed to exclude will be pro-rated during the time period it was not your residence and the time period you lived there. See the IRS publication Sale of Home. Use as a vacation home is non-qualified use of the property. Some of the gain since 2008 will be allocated to that... show more
    Best answer: Yes, but the amount of gain you are allowed to exclude will be pro-rated during the time period it was not your residence and the time period you lived there.

    See the IRS publication Sale of Home.

    Use as a vacation home is non-qualified use of the property. Some of the gain since 2008 will be allocated to that time period. The law CHANGED in 2008, but apparently no one here keeps up with changes.

    Here is an article with examples.
    http://fairmark.com/news/08080501-reside...

    For example, if someone buys a vacation home in 2009 and converts it to a personal residence in 2017 and sells in 2019, 80% of the time is considered disqualified use, so 80% of the gain CANNOT be excluded.

    All of the other posts are saying, no problem, but I bet the poster is thinking that means they can exclude the first $250K.
    9 answers · 2 weeks ago
  • If your an OTR truck driver and your compny pays you per diem can you still file per diem at the end of the year on your taxes?

    I saved all my receipts like food receipts, can I still file and itemize at the end of the year when tax season comes? Or do I have to ask my company to stop giving me per diem just so I can itemize all my receipts at the end of the year? Thanks, Chris
    I saved all my receipts like food receipts, can I still file and itemize at the end of the year when tax season comes? Or do I have to ask my company to stop giving me per diem just so I can itemize all my receipts at the end of the year? Thanks, Chris
    12 answers · 3 weeks ago
  • Filing taxes for stocks: Small capital gains after large capital losses?

    Best answer: Assuming you have $350,000 in losses carried forward and $10,000 in gains this year . Since your losses are more than $3,000 more than your gains, your taxes for this year will be based on a net loss of $3,000 for the year and you will carry forward $337,000 in losses.
    Best answer: Assuming you have $350,000 in losses carried forward and $10,000 in gains this year . Since your losses are more than $3,000 more than your gains, your taxes for this year will be based on a net loss of $3,000 for the year and you will carry forward $337,000 in losses.
    12 answers · 3 weeks ago
  • Just Realized my W2 lists me as Single And Not as Dependent?

    I am now really worried. It was part of a federal work study (aka college.) I did not file my taxes because I did not make more than 1,050 as a Dependent, otherwise I would've noticed the issue sooner. I contacted my college to tell them of the issue, but I am afraid this will hurt my aid or screw up my taxes.... show more
    I am now really worried. It was part of a federal work study (aka college.) I did not file my taxes because I did not make more than 1,050 as a Dependent, otherwise I would've noticed the issue sooner. I contacted my college to tell them of the issue, but I am afraid this will hurt my aid or screw up my taxes. Since I wasn't required to file as a Dependent or as a Single, am I in the clear?
    11 answers · 3 weeks ago