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 Rental Property Deductions?
My husband and I bought a rental property in September. Since we are new at this I am not completely sure what all is tax deductible. Our taxes will be done at HR Block. I am just curious for my own ...

 Does the federal government tax my unemployment benefits? Is a certain amt tax free and then I have to start?
I live in California and my state doesn't tax it but I think the feds do. Right now I don't have them withholding anything, but is there a certain point where I should have them withhold ...

 Why did my tax refund date change?
I did my taxes with TT online. I was told by them to expect my tax refund on 2/13/09. I have checked the "where's my refund" link and I was told that I shoud have it no later than 2/17....

 For people in the last batch of SSN numbers waiting for direct deposit of stimulus?
I just checked the "Where's my stimulus" option on IRS.GOV and it FINALLY gave me some info. It says my deposit will post no later than Friday, May 16th. I'm not holding my breath,...

 What does ytd stand for on the paycheck?
I am a fulltime healthcare worker....

 If I always get all of my federal taxes back when its time to file them would it be possible to..?
get the money now that I have already accrued? If so how do I go about doing that?...

 Has anyone had their tax money deposited on their ipower card from Jackson Hewitt yet?
I'm just wondering if anyone has had their tax money already deposited on their ipower card from Jackson Hewitt yet? It was a service they provided using (RAL) Refund Anticipation loan.


 new proxies for myspace?
new april proxies to log on to myspace at ...

 I've already filed my return before Jan 31 butI received a 1099 in the mail what should I do?

 how do u work out VAT??

 Is it true that if you have a certain amount of money in the bank you can move to Australia?
I live in England with my parents and they are thinking about moving to Australia. My dad is 45 in July and my mum is 43. My dad has had experiance in removals and my mum worked in an estate agents ...

 I can" figure out where to get all my old w2 forms ....?
...I don't remember all my old employers. now what
i've bounced around to alot of jobs over the years, and I dont remember them all. where would I go to find them?...

 possible punishment for forgetting to put ~700 w2 on tax return?

Additional Details
what if htis happned 2 yearsa ago?...

 can a stimulus check be garnished if one owes child support?

Additional Details
Ex owes child support...just curious to know:)...

 Could my parents claim my son and I am dependents for the 2008 tax year, I am 26 and a full time student my ?
son is 5 and we both live with my parents and have for the last year and a half, and I have the legal right to claim our son for taxes his father can not....

 Should my wife and I file our taxes jointly or seperately ?
We got married this year, and my wife moved in to my house. Her name is not on the house or land. I didn't know the advantages or disadvantages in filing jointly or seperately. Which way is ...

 can i still file taxes even if i am not on a payroll?
I would like to file for taxes so that I can be eligible for student loans....

 Did you know that Obama is going to restore the inheritance tax?
Portion of Side by Side Comparison
MCCAIN - 0% (No change, Bush repealed this tax)
OBAMA Restore the inheritance tax
Many families have lost businesses, ...

 why yahoo cannot find it.?

 How to become tax preparer?
Does any one know how to become tax preparer in New Jersey without going to any classes? something where you study on your own and take an exam.
Additional Details
please dont suggest H &...

riley REJECT
do i have to pay federal income taxes if I earn UNDER $20,000 a year?
My employer didn't withhold ANY federal taxes. I was told I don't have to pay federal income tax if I earn UNDER $45,000. Since I earned under $20,000, should I pay any taxes. When I figured out my taxes, it says I owe over $1,400 AND I could get a penalty since my employer didn't withhold taxes.

If you made over $3,000/year you need to file a tax return. You have until April 15th to file a tax return, so you better get on it! If you're still employed with that same person make sure you filled out your W-4 correctly so that the proper amount is being withheld from your paycheck.

You don't have to pay anything if you make less than $8,025.

If you're a single filer and your 2008 taxable income is $20,000, then you're in the 15% tax bracket. With $40,000 of taxable income you would be in the 25% tax bracket.

Count Your Blessings
Whoever told you you owe no taxes was misinformed. You must file both federal and state income tax forms if your state has an income tax.

The only way your employer could have legitimately not withheld taxes is (1) because you asked him not to via the W-4, or (2) your income was reported on a 1099-MISC and you're considered or may be considered self-employed.

Make sure you have someone experienced in tax matters look over your draft tax forms to ensure you did them right and are not overlooking deductions, adjustments or credits you might otherwise be entitled to.

And also get with your employer (if you got a W-2) ASAP to get your withholding corrected for this current tax year (2008).

Good luck.

Yes, you have to pay. I've never heard that you don't have to pay federal income if you are under $45,000. If that was true lots of people wouldn't have to file.

Whoever told you that you don't have to pay federal income tax if your income is UNDER $45,000 was WRONG!

If you're single and under 65, you have to file a return if you make over $8,750 per year (that's the sum of your one exemption plus your standard deduction). If you made $20,000 in 2007, you subtract the $8,750 to get your taxable income ($11,250), which means you'll owe about $1,300 in taxes. And you're right, you will have to pay a penalty for being underwithheld.

Why didn't your employer withhold any taxes? If it was because you filed a W-4 as EXEMPT, you need to file a new one for 2008 showing a corrected number of exemptions. If the employer didn't withhold taxes without any instruction from you, then they have broken the law.

If you made over $8,750 then yes you have to file your taxes. You received very bad information regarding your taxes. Didn't you review your pay stubs throughout the year and notice that no federal taxes was being taken out? By the way if you owe more than $1,000 you will be paying penalty.

Wayne Z

Assuming that no one claims you as a dependent, you would owe taxes if you made over $8750 for 2007.

Someone has grossly misinformed you.

Audrey A
Who told you that you didn't have to pay taxes if you earn under $45,000? Whoever it was is dead wrong.

Only if you made under $8,750 (if you are single and not a dependent) do you do not have to pay taxes or file a return.

You will need to make sure your allowances on your W-4 are correct. You shouldn't be exempt from federal taxes (as you found out the hard way). Talk to your employer and make sure they take out federal taxes from your paychecks from now on, and no you shouldn't have to pay a penalty.

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