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I purchased a property in February 2006 for which I live. I sold a property 5 years ago on a land contract, and the new "owners" make religious monthly payments. For the year ending 2006, I received about $8,000 in interest from the payments for the property...
Answer Snippets (Read the full thread at money-talk):
Getting a copy of TurboTax or TaxCut will enable you to what-if your tax return of 1040....
~Tim~
Eye Candy transaction midstream.
Getting a copy of TurboTax or TaxCut will enable you to what-if your tax return scenarios.
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On Wed, 27 May 2009 16:51:04 -0400, "vinny" <vinny@vp3d.net
I just heard a second of it? I swear I heard 14%?
Added to our state sales tax it would be up around 21%? And that doesn't
include all the other taxes we enjoy from the new 8% tax on...
Started by vinny on
, 46 posts
by 20 people.
Answer Snippets (Read the full thread at omgili):
How of the all the
spending initiatives....
It looked something like this.
2009 01:42:39 -0400, "vinny" <vinny@vp3d.net
It's a 100% tax-deductable business expense published what they called a 1040
EXTRA short tax form.
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On Thu, 08 Oct 2009 15:44:38 -0500, Tristan <twerlip@aol.com
Only medical expenses in excess of 7.5% of income can be deducted on our
tax returns. It could easily have been changed to permit full deduction
if the politicians were as concerned...
Started by Tristan on
, 140 posts
by 18 people.
Answer Snippets (Read the full thread at omgili):
It allows more to buy insurance with pre-tax dollars
*and* starves the beast that you can't buy health care with....
Sure it does.
The same group that Obama would like punish with even more
taxes above.
Pay Federal
income tax.
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Ask your Facebook Friends
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Many people ask questions about taxes on the forum. I think it is useful to see a tax return Form 1040 fully explained and the NYTimes does that annually in a special section: http://www.nytimes.com/indexes/2012/02/ ... yourtaxes/
The tax return shown...
Started by livesoft on
, 9 posts
by 8 people.
Answer Snippets (Read the full thread at bogleheads):
Thanks! thanks! Their effective tax rate on over $160,000 of gross income is under 11%.
Good info.
Thank you, livesoft.
Excellent post.
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Can the AOTI be used for grad school? I don't think so:
IRS [ irs.gov ]
The American opportunity tax credit can be claimed for expenses for the first four years of post-secondary education.
AOTI does not lower MAGI, it's a credit not a deduction
there...
Started by Dem Bums on
, 8 posts
by 3 people.
Answer Snippets (Read the full thread at slickdeals):
Sounds like I'm going....
Awesome.
I may be misreading the IRS website; there are some tax to contribute $3K to a traditional IRA just to be able to deduct my undergrad student loan interest.
I'm going to have any easy return this year.
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I'm confused. I'm playing with TurboTax and the Foreign Tax Credit. I received dividends on Vanguard's Total International Stock Index Fund of which $739 represented foreign tax paid. So far so good. I understand I can claim this amount as an itemized...
Started by xenopus on
, 12 posts
by 7 people.
Answer Snippets (Read the full thread at bogleheads):
If you pay unusually....
That is, if 5% of your income was foreign, then you cannot take a credit of more than 5% of your tax.
The foreign tax credit is limited to your income.
I think you entered the wrong number on Form 1116 .
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Dear ISHers,
So I got my first real salary paying job last year and the tax commercials have started popping up on television. I have never filed for taxes or income tax return before. What is the whole process like? Does the government really give you...
Started by BallsOut on
, 15 posts
by 12 people.
Answer Snippets (Read the full thread at insidehoops):
I have never....
What is the whole process like? Does.
I have never filed for taxes or income tax return before.
I have never filed for taxes or income tax return before.
Have started popping up on television.
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Earlier this year (2008), I paid a sizable amount (say 100k for
simplicity) in 2007 CA state taxes. It was probably a big blunder
not to expedite that payment in 2007, so that I could deduct it
against 2007 federal income, but too late to do anything ...
Started by derkire@gmail.com on
, 21 posts
by 7 people.
Answer Snippets (Read the full thread at omgili):
Say for the
first quarter (January to March 31) you had 40k AGI of which 5k was
qualified dividends, and the foreign tax credit was $200, and CA state
tax paid was 4k, $800 foreign ....
AMT, foreign tax credit, etc.
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I'm doing my taxes for the year and I'm stunned that the Making Work Pay Credit and the offset for state and local taxes are gone this year. That costs even the poorest worker over a thousand dollars per year.
I'm not sure my position on it as it seems...
Started by jtgain on
, 17 posts
by 6 people.
Answer Snippets (Read the full thread at straightdope):
The Making Work Pay Tax Credit was immediately replaced by the 2% payroll (Social Security) tax cut credit was only $400/$800, and I'd like to see a link for the tax offset.
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Please don't answer if you are only going to say that I sholdn't "lend" my money to the governement for free for the year and then get a return. I know alot of people look forward to the return, I am onw of them
With that said...just did the taxes and...
Started by njmomtoone on
, 15 posts
by 13 people.
Answer Snippets (Read the full thread at disboards):
You have to deduct $5....
tax credit? We did ours with H&R block and they accepted our return already and we got $1000 credit you over the $110,000 threshold where the Child Tax Credit starts to phase out.
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