The Tax Questions Blog

Posts Tagged ‘tax’

IRS Investigating Donors To Political Nonprofits

The Internal Revenue Service is investigating five donors for making contributions to the kind of nonprofit groups that have become popular for spending millions of dollars on political ads in the past few years. The IRS is trying to determine whether the donors owe federal gift taxes for the donations, an agency spokeswoman said Thursday.

Question: Are gambling winnings on a cruise ship to the caribbean taxable?

Answer: Nope - play all you want - good luck!

Primo Water Announces Results for the First Quarter Ended March 31, 2011

WINSTON-SALEM, N.C. -- Primo Water Corporation , a rapidly growing provider of multi-gallon purified bottled water, self-serve filtered drinking water and water dispensers sold through major retailers throughout the United States and Canada, today announced financial results for the first quarter ended March 31, 2011.

TYT - Extended Clip - March 23, 2011

Question: TAX QUESTION: how come I paid a high % fed income and state tax BUT my friend didnt pay anything?

We both are the same age (21), both in college, both dependents under our parents and both had jobs in the same state. We just compared w2's and he payed not a penny in state income tax and a VERY small amount for his federal income tax. E.G. He made over $6,000 dollars taxable income and only paid about 200 dollars in federal income taxes and got all 200 back in his return.

Me on the other hand had made about $8500 but I was taxed $1300 for federal income tax and $300 for my state return. When I went to file, I am only getting about $655 federal and 145 for my state return..

How can my friend not pay any taxes and get a full refund, when I payed high taxes and only get about half back?

Answer: Your withholdings were different for two reasons. His income was lower, so less tax is withheld. You probalby claimed 0 withholding allowances while it appears that he claimed 1.

IF he earned $6,000 as a dependent, he did NOT get a full refund. His tax liability was about $30 so he got a refund of $170. $6,000 - $5,700 standard deduction = $300 taxable income. Tax is $30. $200 - $30 = $170 refund.

Your refund would have been $1,020, not $655. $8,500 - $5,700 standard deduction = $2,800 taxable income. Tax is $280. $1,300 - $280 = $1,020. If your numbers are different, you screwed up somewhere.

What if Your Tax Refund is Wrong?

You got a check that's less, or more, than you expected. Find out why and what to do about it.

Muni Health Check 2Q'11

Question: Can I file my taxes, with my wife and children as dependents, to where Florida Child Support won't garnish all?

Thanks for the answers! I just received an answer from a CPA, think it might be the right one. She said that there's an injured spouse allocation form. In effect, it would legally and properly distribute the tax return between Child Support Enforcement and my household. This is great for those who have taken the responsibility of paying off their legally-binding debt while they continue providing for ALL their children.
Thanks for the answers! I just received an answer from a CPA, think it might be the right one. She said that there's an injured spouse allocation form. In effect, it would legally and properly distribute the tax return between Child Support Enforcement and my household. This is great for those who have taken the responsibility of paying off their legally-binding debt while they continue providing for ALL their children. Including children with ex's.

Answer: Why are you in arrears? If there was a justifiable cause, you could file to get the arrears reduced.

http://docs.dads-house.org/Federal_Child_Support_Laws.pdf

To learn a father's rights, join Dads House in Yahoo Groups. It's free to join and you associate with other fathers going through the same thing.

http://Dads-House.org

Goalball: An equal playing field

Rosemary Martin,'14, participates in competetive sports despite visual impairment Rosemary Martin, and lsquo;14 loves sports. Growing up as the youngest of nine children, she never had a hard time finding someone to play a game of pick-up basketball or share akick around with a soccer ball. If Martin sometimes had trouble kee...

Divorce Advice : How to File a Motion for Child Support

Question: What Kind of Tax Dollars Goes to Pay for Certain Structures?

Okay, well I have a questions from my HW. City sales tax, property tax, federal income tax, etc...... Here I have an assignment but I have no idea about economics so I am asking you guys for help. I need to know what kind of taxes are used to pay for the following structures?

1. city park?
2. army tent?
3. public school textbooks?
4. Street Lights?
5. police/fire training?
6. public school teachers salaries?
7. flood control?
8. free/reduced lunch programs?
9. public university tuition?
10. national park system?
11. strip shopping center?
12. infrastructure of a city?
13. county hospital/indigent care?
14. Local Charities?
15. City Animal Control?
16. cab service?
17. park & ride lots?
18. Public University tuition?
19. City Lake?

Answer: All kinds of taxes are apportioned by the government for public services. There is no policy that a certain kind of tax wii be spent for a certain government service.

Starwood Property Trust, Inc. Reports Results for the Quarter Ended March 31, 2011

Starwood Property Trust, Inc. today announced operating results for the first fiscal quarter ended March 31, 2011. Â The Company's Core Earnings, a Non-GAAP financial measure, were $31.4 million, or $0.43 per diluted share, for the first quarter of 2011, representing a 55% increase over the prior quarter's Core Earnings of $20.2 million, or $0.37 per diluted share. Â Net Income increased year ...

Scientology: Feb. 1, 2011 Property Tax Laws and Illegitimate Organizations