Is the 2007 tax rebate actually an "advanced payment" like the 2001 "tax rebate?"?
Answers: While the rebate depends on your 2007 income, it is actually a rebate toward your 2008 taxes. According to the proposed plan, in 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 like a one time tax cut for 2008, but you get the rebate now instead of waiting to file your 2008 taxes.
Because this is an advance payment on your 2008 taxes, your refund next year could be more (or less!) depending on your 2008 income.
Nothing has passed Congress yet, so all details are subject to change. Check out the referenced site below for more info.
The answer is yes. The "tax professional" would try to explain it to you as a tax cut, but the reality is that even the IRS is defining the "rebate" as an ADVANCED PAYMENT.
Hold on to the check, it's all going back April of 2009.
When you claim as a dependent?
do you claim yourself as a dependent or can someone else claim you as a dependentAnswers: Pertaining to your Jeep question, I can't e-mail you as you asked, your e-mail is blocked.
Either. If you provided over partly of your own support then you cannot be claimed by someone else.
If you did not provide over partially of your support then the human being who supported you can claim you if you are either their qualify child or qualifying relative.
Qualifying child must go beyond these tests; relationship, age, residency
Qualifying relative must go beyond these tests; not a qualify child, member of household or relative examination, gross income test and support question paper
Children age 18 or younger can be claimed on their parents' return. If the child is over 18 and is a full-time student for five months during the year, the parents can claim the exemption for the child through the age of 23. This is the general rule for non-disabled dependents. Your give somebody the third degree wasn't complete enough to know exactly what you're asking.
What would the federal export tax be if I give $1,000,000 as a offering to someone?
If I give someone $1 million as a offering I understand I would own to pay the federal endowment tax on the money. How much would that be?Answers: please, I have need of a gift... I'll cover the levy
Generally, the following gifts are not taxable gifts:
- Gifts that are not more than the annual exclusion for the calendar year,
- Tuition or medical expenses one pays directly to a medical or educational institution for someone,
- Gifts to one's spouse,
- Gifts to a political association for its use, and
- Gifts to charities.
If the gift is not to one of these, you still may not own to pay anything, if you've never given a hulking gift back. There is a credit that essentially negates the import tax on gifts until a total of $1,000,000 has be given by one person to another.
If these exemptions and credit do not apply for you, I believe the levy on a $1,000,000 gift would be a staggering $345,800.
I'd consult a CPA back delving into the grant tax return stuff adjectives by yourself, there are specialists for this and it can attain quite messy! At the Big Four public accounting firm I work for, we even distribute our gift duty returns to another office that have a whole department that specializes within them - so good luck near it and congrats on being within a position that allows you to be so generous!
Maybe zilch. You'd have to folder a gift rates return, but if you hadn't given a large sum of gifts since, you wouldn't owe a gift rates, you'd still be within your lifetime check.