The Tax Questions Blog

Posts Tagged ‘finance’

Question: Does tax free weekend extend to online sales?

So I'm planning on buying a laptop for college this fall, but my parents told me there is a tax free weekend going on here in North Carolina soon. So I was wondering if I could buy my laptop online and still have it tax free?
Ok guys, I see what your saying, but hp doesn't technically have its own store here, and I'm not sure if the site is even based here. Anyways, does the federal sales tax still apply?

Answer: Any retailer with a NC nexus, online or otherwise, is required to collect and render NC sales taxes on all taxable goods and services delivered to a NC address. All NC retailers are required to collect and render ONLY the legally due NC sales taxes. Therefore any online retailer with a NC nexus is REQUIRED BY LAW to honor the tax-free holiday rates on taxable sales.

Tax Authority seeks to end free ride for dividends

Large dividends paid out of revaluation profits are escaping company tax.

Do Your Taxes for Free: Free File 2011

Question: I am almost 21 and never done a tax return.. how do i get out of this mess?

I worked and paid tax from the ages of 14 -18, and also a little over the past 2 years, and at some stages i was on centrelink, both for unemployment and as a student, but currently am a full time mum with my only income being the family tax benefit (my husbands earns too). I don't want to get into trouble but i don't know how to get out of this mess.. i have none of my group certificates..where do i go from here? How do i fix this?

Answer: Hi Kim

you're gonna have to bite the bullet and sort your taxes out. my suggestion would be to approach an actual tax agent in australia (like H&R Block or someone) and get them to help you. you'll need to pay for their services, but the good news about that is it's a deductible. they should be able to give you all the help you need.

if you are a full time mum, i'd suggest you must have some time on your hands to actually address obtaining most of your group certificates.

you really need to get on top of this, as it's only gonna get worse the longer you leave it. you won't necessarily get into trouble by lodging late tax returns (although the tax dept is entitled to fine you) but this only becomes a real issue if you OWE money in taxes.

i'm also not sure if you are required to pay taxes if you are under a certaing age OR if you earn less than $7000 in one financial year - so you might be lucky and get all that tax you paid, back in your own pocket.

my friend left her taxes for five years and hers were in a real mess. she was using her own car as a company vehicle and had all sorts of other offsets and she willingly admitted she didn't know how to deal with it. she just went and got it done professionally and it all got sorted out.

Community Bulletin Board

May 14, all BLUE tagged clothing is 50 percent off. The first Wednesday of every month is Senior and Military Discount Day. Seniors and military service members will receive a 25 percent discount.

Why Can't Chuck Get His Business Off the Ground?

Question: Application foe SSN card early 1900s for an immigrant, would it list orgin town,country?

My Great grandmother came from Poland sometime in the early 1900s, if I order a copy of her "application for social security card" will it list where she came from (Town and Country)? Or is there another paper trail that would? I don't know what immigrants had to file for in the early 1900s like green card,visa,citizenship,etc? Any idea?

Answer: I don't know what was on the application that far back but it would certainly provide other clues if it didn't have what you were looking for. I know you have to pay for a copy but it just might be worth what you have to pay.

You might call your local social security and ask them. They might even look it up for free for you. It's worth a try.

Calendar

The deadline for calendar items is two weeks prior to the desired publication date. Send information on clubs, lectures, community events, religious events, reunions, support groups and singles to: Evanston Review, 3701 W. Lake Ave., Glenview IL 60026 or email to Diana Rock at drock@pioneerlocal.com or fax to (847) 486-7451.

USA Visa Application: Visa request for Green Card Lottery

Question: Where can I file my federal and state income taxes online for FREE?

I live in Missouri by the way. I have an appointment Wednesday, but if I could do it entirely online for free I thought I might do that instead.

Answer: you can go to www.irs.gov and free efile on that site
you need to check the Mo web site for your income tax to see if they also offer free efile, some states are this year

Super rich see federal taxes drop dramatically

Still scrambling to file your taxes? You'll probably take little consolation in hearing that the super rich pay a lot less taxes than they did a couple of decades ago. And nearly half of U.S. households pay no income taxes at all.

How to File Your Taxes Online : How to E-File Taxes

Question: How do charitable donation tax deductions work?

I am possibly moving across the country and am considering donating all my furniture and most of my belongings to Goodwill or the like as an option for getting rid of stuff. I make 38,287 a year, how much (value) would I have to donate in order to have it be tax-deductible?

Someone told me that unless I make above a certain amount of money that I can't make charitable deductions, that deductions are only available to people in higher income brackets. Is this true?

Any website, (other than IRS) that explains this stuff in plain English?

Answer: anyone can make tax-deductible donations.

they work like this:
1) you make 10,000 per year (W2)
2) you donate 1,000 to charity
3) when you file your taxes, you get to subtract that 1,000 from the amount reported on your W2 (10,000).
so, instead of paying tax on 10k, you only pay tax on 9k.

the only complication is that in order to take advantage of the tax deduction, you have to itemize. if you just take the standard deductions, you won't see any benefit from making a deductible donation. so, if the standard deduction is more than your itemized deductions would be, then you wouldn't see any tax benefit.

but even if you don't get a tax deduction, donating to charity is still a good thing to do. i hope your generosity doesn't depend on your taxable income.

What's Happening

VFW fundraising dinner Friday VFW Post 6271, 233 E. 5th St., is holding its weekly Friday dinner March 25, 5 p.m. to 6 p.m., serving salsbury steak, mashed potatoes, gravy, vegetable, salad and bread. Cost is $7. Public welcome. For takeout or additional information call 586-2197.

How Tax Brackets Work