Should I claim my mom?
I'm claiming my daughter, and I worked all ending year. My mom didn't work at all, but she get her disability checks. Should I claim her and be head of household? Or should I basically claim my daughter?Answers: If you take effort of her and are head of household, after yes...but if she claims herself, then you cannot. She would enjoy to file as a dependent when she files.
What is the max you can earn as a 1099 status?
I know there is a maximum you are allowed to kind without paying any income levy when you are being rewarded as a 1099 worker but I have hear different amounts. I worked a temporary segment time job and be on a 1099 basis although I worked a full time charge as an independent rep for another company where I also worked as a 1099 worker and made pretty a bit. What I need to know is do I hold to report the smaller income from the part time temp available job and include it in my taxable profits also? The gross total earned be less than $900.Answers: Anything over 400 on a 1099 is subject to self-employment due (social security and medicare). Don't verbs that with income toll. They are different. Even if you end up beside no income tax liability from the small 1099 you will still own to pay the self-employment rates as no social security or medicare payments be made yet on that income.
You can generate up to $400 for the year and not pay any taxes. Over that you'd wage self-employment taxes even if you don't make plenty to owe any income tax.
How much of a charitable donation can you claim without a reciept?
Answers: For 2007 you must have a receipt or bank record for ever $1 you report as a charitable deduction. For donations of stuff you must have records or other information that shows the value as well.
$0 as of Jan 1, 2007. You must now have either receipts or bank records to back up ALL charitable donations.
As the IRS starts ramping up enforcement on this I'm curious to see what the impact will be in donations. I've put cash in the plate at chuch all of my life. Without a deduction for these cash donations I'll be rethinking the amounts that I donate. Ditto for the cash in the Salvation Army bucket around the holidays.
ACTUALLY, you cannot deduct a cash contribution, regardless of the amount unless you
1. Keep as a record of the contribution (a canceled check or bank statement, a credit card statement) that shows the date, the name of the charity and the amount, or
2. You have a written communication from the charity which includes the name of the charity, the amount you donated and the date (i.e. a receipt). If the cash contribution exceeds $250 at "one time", then you are required to get written confirmation.
Contributions of clothes, furniture, etc. cannot exceed $250 unless you receive acknowledgment from the organization. If you made more than one $250 contribution, you must have acknowledgment for each contribution.
Generally, your total contributions cannot exceed 50% of your Adjusted Gross Income.
You cannot deduct contributions to organizations which are not qualified to recieve tax-deductible contributions.