Taxes problem!?
I Filed for income tax and it said i owe the gov 350 my levy preparer said that I owe this much and only get 500 back and i've worked a profession for a full year 3 jobs and i get little money because single. Something is wrong I think also the rates preparer gave me this huge packet backbone and what i saw was a copy of my income import tax was not in that and they said they called me when i asked could they transport it she said no you have to catch it so im going to get it but im freshly wondering, it DID say i owed on the computer eyeshade but i don't see how i owed money i never owed money with 12 thousand made within a freakin year. Is something wrong? im 23 she said untill i turn 25 or had a child i wouldn't own owed is that true?Answers: If I were you, I wouldn't proceed beside filing the taxes if you conjecture something is wrong. Here is the irs site:
http://www.irs.gov/efile/article/0,,id=1... you can file your federal taxes free of charge. You may hold to pay for state taxes. it is in principle simple. all you do is answer question and enter information off of your w-2 form and the program calculate everything for you. Then with a click you can wallet your taxes and if you do direct deposit you get your repayment in in the order of 10 days.
Child support payments?
my nephew pays child support and wants to know if he can reduce by it from his taxes.Can he deduct it? and how is it done?
Answers: nope, he cant subtract that
...
NOPE.
Not deduction for payor nor income to payee--this is support for his child/children.
He's apparently not custodial parent
He may or may not know how to take export tax exemption for the child, depending on court order, agreement near mother, etc.
No..but he is fulfilling his role as a good father...alimony payments are deductible
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UK wherewithal gain export tax on brand new cars?
Ive been looking into buying alien cars in the UK and Im wondering if Im competent to sell it and net a healthy profit - what taxs will I be liable for? I know I will take-home pay VAT but like houses is within a CGT tax to money (especially if I did it for a few cars)Thanks for reading and help is appretiated
Answers: You won't reimburse any VAT. The VAT is paid when the sports car is new - after that there's no VAT as it's already be paid!
Just income tariff to be paid on the profit - but if you set up a company you can direct that much better.
Well pretty soon your turnover will exceed the VAT threshhold (lb64000) so you'll have to use the used sports car VAT scheme.
As mentioned any profit will be subject to Schedule D duty (Income tax on profits).
Register beside HMRC as self employed within 90 days of commencement.