The Tax Questions Blog

Posts Tagged ‘ubit’

Question: How do I calculate my post tax income?

My taxable income is $40,000, residence is in MD and I'm single. Not accounting for Health/dental insurance contribution. I work for a non-profit organization if that makes any difference.
By post tax income I mean after paying federal and state taxes, how much disposable income will I have in my pocket.

Answer: I would calculate it as follows:

Take the selling price of the posts and subtract the purchase price
of the posts. This is your profit and is fully taxable.
Add this to your taxable income. You can also deduct part of
your home as an office if you spend enough time there with post
purchasing and selling matters. Be careful! The IRS is very strict
regarding the home/office deduction.
Just out of curiosity what kind of posts are you selling?

TD Bank Financial Group Reports Third Quarter 2010 Results

This quarterly earnings release should be read in conjunction with our

Getting Help - Ch. 3 - Basic Sales and Use Tax

Strongco Announces Fourth Quarter and Year End 2009 Results

Summary Of 2009 12-Month Results (i) - Revenues totalled $291.8 million, a decrease of 27% in a market that was down greater than 50% - Gross margin improved to 20.5% from 16.5%, as a percent of revenue - Expenses decreased 9% to $55.8 million - Earnings from continuing operations rose to $0.7 million from $0.4 million loss - EBITDA from continuing operations was $18.0 million, down 12 ...

Question: I've submitted form 15G for 2 FD a/c but my income for '07-'08 is above non-taxable limit. What shud I do?

Since I ve submitted form 15G, no form 16A or anything has been issued by bank to say interest earned or tax liability for the same.
How do I pay tax for this. Should I submit 15G for next financial year even if my total annual income is above non- taxable limit.

Answer: Dear sir,

As per the provison one should not give form 15G if his or her income is above taxable limit after deduction of Chapter -Vi.

IN case of Financial year 2007-08 if no tax is dedcuted from your interest income and your net taxable income (after dedcution of chapter VI) is above 1,10,000/- Please calculate your tax liability and deposit by filling of Challan 280.

Keyera Facilities Income Fund Announces January 2010 Distribution

Keyera Facilities Income Fund announced today a cash distribution for January 2010 of 15.0 cents per unit. The distribution will be payable on February 16, 2010 to unitholders of record on January 22, 2010.

Alex Jones Tv {Sunday Edition} 5/8:Pelosi "Buy a $15,000 Policy or Go to Jail"

Question: If ? were to Invest in someones Idea(s) what would you want to do? ?

I would be interested in a Investment with a good idea and sound Capital gain?
The yes and no are as follows?
No Nightclubs,Liquor licenses,short term investments,stripper club/bar,returnable bonds,NO 501c(3) non profit or pro-bono ideas?
NO SCAMS!!!
Yes, if you have an idea that has a sound capital gain, location location location is very important?
Yes to a trackable investment?
Yes to a Only in the United States?
Yes to precious metals, but not forien exchange?
The bottom line is People all over the USA have excellent ideas and the banks turn them down and sometimes find a way to run with the idea(s) elsewere? Even if you have the worst credit a person can have?
Please keep out the B/S that would only? Well you know?
If you have Capital and still being turned down but would love to get started ASAP?
A BUSINESS PLAN THAT COULD MAKE MILLIONS OR JUST A TAXABLE INCOME? NO DONATIONS OR SPONCERS OR HAND OUTS!!!
HAPPY NEW YEAR

Answer: what's up with all the ranting?

maybe if you ask a question rather than making declarative statements and putting a question mark at the end, people might be able to help you.

do you just not know the language? if so, there are plenty of boards in other languages. you might want to try asking a question over there.

Senate Health Bill Could Hit Middle Class Hard- Watch 'Special Report' for Health Care Countdown

Senate Majority Leader Harry Reid, right, attends a news conference on Capitol Hill Dec. 22, along with Senate Finance Committee Chairman Max Baucus. (AP Photo)

ACORN Chief Community Organizer Bertha Lewis, Rep. Darrell Issa with Chris Wallace FNS - 09/20/2009

Question: My employer paid my tuition reimbursement in excess of $8950 which is all taxable income, what do I need to do?

My employer paid my tuition reimbursement in excess of $8950 which is ALL taxable(overage of the $5250 non taxable allotment). If I use Turbo Tax to do my own taxes, how do I guarantee that I will do this properly? Even though I never technically was given this money as extra income, can I still claim this as tuition I paid? I think it's called the Hope Credit.

Answer: The $5,250 that you were reimbursed by your employer for tuition and fees cannot be used to generate a tuition and fees deduction or lifetime learning credit.

You can take education tax benefits for any tuition and fees paid by your employer that are included in your W-2. This should be all amounts paid in excess of $5,250.

You can also take education tax benefits for tuition and feew you paid out of your own pocket.

You probably do not qualify for the HOPE credit because this requires you to be a full-time student and less then 2 years out of high school.

The lifetime learning credit is claimed on form 8863 and the tuition and fees deduction is claimed on form 8917. You can choose to take one of the other, but not both. If your income is too high, you will not qualify for the education benefits.

If you itemize your deductions, there may be some additional benefits.

Richard K
Master Tax Advisor
Enrolled Agent

This advice was based upon my understanding of the tax law in effect at the time it was written as it applies to the facts described by you.
See my profile for more information.

Fitch Rates Mercedes, Texas, GOs 'A-'; Outlook Stable

AUSTIN, Texas----Fitch Ratings assigns an 'A-' rating to the following Mercedes, Texas' general obligation limited tax bonds:

Alex Jones Tv {Sunday Edition} 8/8:Pelosi "Buy a $15,000 Policy or Go to Jail"