My mother-in-law is staying with us from may and was wondering whether i can claim her as my dependant?
Answers: Maybe.
You must provide over 50% of her support for the year.
Consult a tax professional for how to document the situation for the proper deductions.
IRS publication 501.
If her income is more than $3400, no.
If her income is less, fill out the support test worksheet. If you meet all tests, maybe. Look for the "qualifying relative" rules.
Yes if
She is unmarried
had less than $3,400 of income
is a US citizen
and you provided more than 50 percent of her upkeep.
Small Business Tax Question?
I purchased into a company called YTB for $500.00, and couldn't hold on to up with paying the $50.00 p/month strong views to keep my online travel business. Can I write this rotten as a loss on my taxes? If so, would I have to record a seperate form for small business? Would I get anything fund for this loss? Please anyone help. Thank You!Answers: YTB looks resembling a scam/MLM/Pyramid to me. . .icky.
Did you have *any* income or be it all this $500 sponsorship?
In theory you put it on programme C, the IRS may be inclined to christen it a hobby...and not let you rob any expenses at all.
Did you really believe their snow undertaking that you could make $$$ by getting your kith and kin and friends to buy the same $500 box you did?
YTB IS NO PYRAMID SCAM!!
YTB, is a Legitimate, successful company since it's inception in 2001. Booking Real Travel With most Major Travel Vendors & Received the Pinnacle Award From CARNIVAL CRUISE LINES 3 YEARS IN A ROW For booking the most cruises surrounded by a single year...On 11/08/2007..Over 12,000 In ONE DAY! This is a bona fide business. Moreover in January 2005, Your Travel Biz be voted one of the top 500 franchise companies by Entrepreneur Magazine, In All 130 Pages Of The January 2007 Issue Of "SUCCESS FROM HOME MAGAZINE" Now In Every Page Of The January 2008 Issue & Approved By The Direct Sellers Association (DSA).
DSA Approves YTB
YTB joins the select ranks of DSA's more than 220 active and approaching member companies surrounded by the United States. DSA is the national trade association representing companies that manufacture and trade products and services sold directly to consumers, primarily through an independent contractor sales force.
Its mission is 'to protect, serve and promote the worth of member companies and the independent business race they represent. To ensure that the marketing by member companies of products and/or the direct sale opportunity is conducted with the absolute level of business nouns and service to consumers.
Each DSA member company pledges to abide by the Code of Ethics' standards and procedures as a condition of entry and continuing membership within DSA.
This Code of Ethics speaks to both the consumer and the seller, and ensure that member companies will brand no statements or promises that might mislead either consumers or prospective sale people. The DSA Code of Ethics Expressly PROHIBITS PYRAMID SCHEMES, misleading or unlawful consumer or recruiting practices, misrepresentation of earn or sales potential, inventory loading and unreasonable entrance fees.
Who will be getting export tax rebate from the govt.?
i know we get our average tax reimbursement check, but will there also be another check this year? how much? i hear at least $300Answers: Individuals who money income taxes would get up to $600, working couples $1,200 and those near children an additional $300 per child lower than the agreement. Workers who make at smallest $3,000 but don't pay taxes would draw from $300 rebatesThe rebates would phase out little by little for individuals whose income exceeds $75,000 and couples with incomes above $150,000, aides said. Individuals near incomes up to $87,000 and couples up to $174,000 would get partial rebate. The caps are better for those with children
Government Employees