Tax rebate?
does any one know a strate answer to the relef check thats coming ? how will thay choose the people.. that achieve the checks... is it based on you taxes...? what give or take a few people that dont trademark any money and dont file toll?will thay get some... ??Answers: It is base on your 2007 earned income and 2007 Federal Income Tax liability.
If you didn't product any money, you still get a $300 rebate if you received at tiniest $3,000 through Social Security or veterans' disability benefits.
Under the compromise bill passed by the Congress, you would be eligible to receive a rebate of up to $600 if you paid that much contained by Federal Income Tax. If you only rewarded $350 in taxes (less than the $600 rebate limit), you individual get put money on $350. If you had earn income of at least $3000, you would catch at least the minimum rebate of $300.
While the rebate depends on your 2007 income, it is in truth a rebate toward your 2008 taxes. According to the proposed plan, in 2008, taxes would be cut from 10 percent to nought percent on the first $6,000 dollars of taxable income for individual taxpayers.
It's like a one time toll cut for 2008, but you get the rebate very soon instead of waiting to file your 2008 taxes. Because this is an finance payment on your 2008 taxes, your repayment next year could be more (or smaller number!) depending on your 2008 income.
They are still finalizing the rules, so it'll be another couple weeks before anyone know exactly how it will work. Right now it sounds resembling if you don't file a return, you won't be eligible. From within it's based on how much due you pay for the year, your file status, and number of kids. If you are a dependent, you aren't eligible.
I'm filing for a tax refund and I'm wondering if I have to include the 1098-T I got from college.?
Answers: While I am no tax guru, I had a similar question. It turns out scholarship money spent on housing is taxible, while money spent on tuition and books isn't. However, you should consult your local tax guy, or even use something simple like TurboTax, it's nifty software.
Yes, you have to include everything.
William wants you to calculate his gross annual pay. His annual salary is $45,723 with a 4.5% commission on on
Answers: William should do his own homework
$ 45,723 x4.5/100 =commission
=457.23 x4.5=2057.50
gross annual pay =45,723.00
commision = 2057.50
total $ =47,780.50