Would I be getting a rebate check if I'm file as a dependent?
(See question)I made roughly 10k this year, but I'm filing below my parents - however, I am not a minor (over 18). Any feedback would be great, thanks!
Answers: Regardless of whether your parents claim you as a dependent, beneath the terms of the compromise bill passed by Congress, you also would be eligible to receive a rebate of up to $600 if you rewarded that much in Federal Income Tax. If you simply paid $350 contained by taxes (less than the $600 rebate limit), you only catch back $350. Since you have earned income of at smallest $3000, you would get at least possible the minimum rebate of $300.
While the rebate depends on your 2007 income, it is actually a rebate toward your 2008 taxes. According to the proposed plan, surrounded by 2008, taxes would be cut from 10 percent to zero percent on the first $6,000 dollars of taxable income for individual taxpayers.
It's resembling a one time tax cut for 2008, but you obtain the rebate now instead of waiting to profile your 2008 taxes. Because this is an advance payoff on your 2008 taxes, your refund subsequent year could be more (or less!) depending on your 2008 income.
You still enjoy to file your own return even if they claim you as a dependent. The amount of money you earn needs to be reported. The IRS will be wondering in the order of any W-2s or 1099s that are in your pet name, eventually. Unless somehow your parents are claiming your income as their own? I don't see how, but if your father is a tax professional...
Since the rebate are going to based on 2007 excise returns, (filed in 2008, of course), if you don't database then you won't achieve one. At least thats the instrument I understand it as reported so far on the communication.
No you would not. It goes by the house hold. If your parents claimed you as a dependent on near taxes and you did not file consequently if they qaulified, they would get a 300 rebate for you. Did you directory on the 10,000 you made? Or did your parents? Did you not claim yourself on your taxes? All these add into the answer to this interrogate.
I worked for a home based business and will not receive a 1099 because I made $344 what do I do?
Answers: don't worry you don't have to claim that small of an amount as income from a 1099 if they gave you one anyway.
You still have to report this earned income, either on a schedule C if you had expenses, or maybe under "other income". Consult a tax professional.
Math Problem Help!!?
Use the information provided on this chart: http://i30.tinypic.com/51ylwh.jpg
suppose the husband has $29000 taxable income and the wife have $31500 taxable income:
If they file separately, their total import tax due is:
Answers: you need another table
Resubmitting the give somebody the third degree multiple times isn't going to help, you know.
What don't you read between the lines about the problem? Figure out what the husband's due would be, figure out what the wife's levy would be, add those two amounts together to take their total tax.
Do you in fact not know how to calculate percent? If you don't own a calculator that does it for you, just move the decimal point over two places and multiply.
You must be at lowest in soaring school to be doing toll homework -- so you really should know this much math.