The Tax Questions Blog

Posts Tagged ‘return’

Question: Does unemployment really count as taxable incom?

I don't know whether to claim my unemployment or not. According to irs.gov unemployment is not earned income, so if you only get credit for earned income why would you want to claim it? I have recieved my 1099-G, according to answers on a similar question it is taxable but absolutely zero taxes were withheld from my unemployment so I don't think I'm going to claim it. It only harms my refund if I do. So why should I?

Answer: Yes, legally, unemployment does count as taxable income. You were getting paid weren't you? Why wouldn't the government tax it?

Fitch Downgrs Riverside Public Financing Auth's 2007 Series A&B TABS to 'BBB'; Outlook Stable

SAN FRANCISCO----Fitch Ratings takes the following rating action on Riverside Public Financing Authority as part of its continuous surveillance effort:

A Truthful Campaign Ad: John Cherry for Michigan Governor 2010

Question: Does anyone else think it is retarded that tips count as taxable income???

Answer: I personally think it's outrageous. It's kind of a punishment if you think about it.

Many people working service industry jobs depend on tips to supplement their already low income.

Ideally tips should only be given when the server earns it.

Tips have become almost mandatory when eating out. Over the years people have been made to feel guilty for not tipping, even if the service was bad.

I'm a really good tipper if my server earns it (which doesn't take much effort). But if I get a really bad server, whether it be because they never checked on me, refilled my coffee, or was just plain rude they're not getting anything extra.

But back to taxes. Taxing hard workers' tips who genuinely earn them by being diligent, polite, and attentive is a roundabout way of punishing productivity. It's kind of like taxing the rich, although the arguments are completely different in that arena.

There's a good chapter about tipping in Glenn Beck's new book.

As far as the politics of taxing tips, Ron Paul is the only 2008 candidate who seems to care about the issue. He even has section of his website devoted to the problem.

http://www.ronpaul2008.com/issues/no-taxes-on-tips/

Hope this helps!

IRS TAX TIPS - Five Important Facts about Dependents and Exemptions

When you prepare to file your tax return, there are two things that will factor into your tax situation: dependents and exemptions. Here are five important facts the IRS wants you to know about dependents and exemptions before you file your 2009 tax return. 1. If someone else claims you as a dependent, you may still be required to file your own tax return. Whether or not you must file a return ...

Estate Planning : Estate Planning Tips