The Tax Questions Blog

Posts Tagged ‘finance’

Question: i need help with algebra word problems(10 points best answers)?

solve the problems:
#1) Mardi received an inheritance of $60,000. She invested part at 9% and deposited the remainder in tax-free bonds at 12%. Her total annual income from the investments was $6000. Find the amount invested at 9%.

#2) In a chemistry class, 3 liters of a 4% silver iodide solution must be mixed with a 10% solution to get a 6% solution. How many liters of the 10% solution are needed?

#3) Persons taking a 30-hour review course to prepare for a standardized exam average a score of 620 on that exam. Persons taking a 70-hour review course average a score of 764. Find a linear function S(t), which fits this data, and which expresses score as a function of time.

#4) Martha can rake the leaves in her yard in 6 hours. Her younger brother can do the job in 7 hours. How long will it take them to do the job if they work together?

THANKS FOR YOUR HELP!

Answer: 2.
let x be the number of liters to be mix in the solution
4%(3) + 10%(x) = 6%(x + 3)
0.04(3) + 0.1x = 0.06(x + 3)
0.12 + 0.1x = 0.06x + 0.18
0.1x - 0.06x = 0.18 - 0.12
0.04x = 0.06
x = 1.5 liters

4.
1/6 + 1/7 = 1/x
7/42 + 6/42 = 1/x
11/42 = 1/x
42/11 = x
3 9/11 = x

approximately 3 hours and 49 minutes

One long tax season is over, but another has just begun

The tax season headache has passed, but taxpayers’ stress could intensify this year amid possible tax increases and uncertainty that confounds planning.

Bond Investing : How Do Tax-Exempt Bonds Work?

Question: Where can I find federal income tax tables online?

I want to get an idea what my taxes will look like when I file. Everyhing I find online leads to someone selling tax preparation software. Where can I find the tables to calculate what I will owe?

Answer: http://www.moneychimp.com/features/tax_brackets.htm

this took about 4 seconds to find.

Briefs - April 1

Senior Meal every third Sunday at Clarinda Regional Health Center

lunch&taxes HOWITWORKS

Question: How long do you need to keep business records (US)?

How long should you keep business records for?

One business closed in 2005 -- do I need to keep those records?

A second business has been operating since 1999. Do I need to keep records that are 10 years old?

This is for US taxes and the IRS, by the way.

Thank you--
I found the answer here:

http://www.irs.gov/businesses/small/article/0,,id=98513,00.html

Anything from 3 years for most things to 7 years if you are claiming a deduction from a bad debt.

http://www.irs.gov/businesses/small/

article/0,,id=98513,00.html

Answer: If for tax purpose it three year

Beware the complicated and costly AMT

This parallel tax system snares lots of unsuspecting filers. Here are the warning signs.

Personal Financial Planning Tips : How to Keep Proper Records for Donations

Question: If my taxable income is zero do I not have to pay any income tax?

This is the first year of my life that I've made income, so I'm new to it. I did some research and found that there is a "personal exemption" of $3,650 that can be applied to dependents including yourself and a "standard deduction" of $5,700 that can be deducted from your income if your itemized deductions are less than 5700. Does this mean that if I make less than $9,350 for the year, I won't have to pay any taxes?

Answer: If no one else can claim you as a dependent, and you had no income from self-employment, and you do not owe any weird special taxes (such as the penalty for withdrawing from any IRA before age 59 1/2), then you can make up to $9350 without paying income tax.

However:
1. If someone else can claim you as a dependent, then you do not receive the $3650 exemption.
2. If you had at least $400 in earnings from self-employment, you must pay self-employment tax.
3. Even if neither of the above situations applies, you must still pay whatever other taxes (sales tax, real estate tax, etc.) apply to you, just not income tax.

Tax tips for 2009 from Missouri CPAs

The Missouri Society of CPAs (www.mocpa.org) is the largest professional group dedicated to advancing certified public accountants in Missouri.

Paying Taxes : How to Determine When Alimony or Child Support is Taxable

Question: Will high unemployment, high taxes, regulations, and probable dollar devaluation cause the black market?

To be the market of the future?

I think Barney Frank is ahead of the game.

Answer: Yes it will and it already has begun in many cases! God Bless

Middle School Classes will Move to Third Floor

East Aurora Middle School students and teachers will soon be using the top floor of their Main Street building once again. Renovations to the third floor are among the last major portions of the school district’s capital facilities project to be completed. While work on the lower floors at the Parkdale Elementary campus and the High School campus were completed earlier, the firm LP Ciminelli ...

Global Warming: How Hot Air and Bad Science Will Give YOU Staggeringly Higher Taxes and Prices