Taxes Questions and Answers

I answered a question wrong on my fedral taxes about eductaion can i refile? It would give me 1000 more back.?




Answers: You have to file an Amended return. 1040X. I would wait until the first return is actually processed.
you can always file a 1040x

It's double the work. If you file it now. They will be confused. But at
least they have it there waiting for themselves to catch up.

Start preparing now. Otherwise if you wait. You won't receive YOUR
MONEY. Until August or Sept if not longer.

They are looking closer at education expensive closer (as per
others in the field.) and they are behind already, because they
had to make corrections on the first tax forms and they
are giving out rebates...so they are not happy IRS people.
they will live on a lot longer than you getting your tax return back.

If I own a plinth income of 42k a year, single beside no kids,what % can I expect federal income duty to appropriate?

thanks


Answers: Go to the H&R Block toll calculator, enter your data and take a good estimate of your taxes and repayment:

http://www.hrblock.com/taxes/tax_calcula...
here is a calculator

http://thepspgroup.com/tools/payroll_ded...

it lets you amount out take home reimburse various ways including 401k, state taxes, pre charge deductions, post tariff deductions, etc.

Just federal claiming 1 next to 42K a year as the gross amount with no other deduction or taxes that would be a take home of $33260 or you would pay envelope $8740 in federal taxes per year or 20.8%.
IF you caim 2 consequently your taxes would be $7790 or 18.54%.
I
Try this link..

http://www.qcktax.com/tax_estimator.php

In accounting, how do i journalize transactions of purchases near taxes (PST and GST)?

which tax accounts do i use?


Answers: Debit expense method (e.g. checking account)
Credit expense account (e.g. clothing) for purchase past tax
Credit PST compensated for PST
Credit GST paid for GST

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