If you paid your 2007 property taxes late - not until 2008 can you still have them deducted from 2007 taxes?
Answers: No, you only get credit if you paid them in 2007. They will have to go on 2008 returns if you paid them in 2008.
"There are two tests that you must pass in order to deduct any tax. The tax must:
1. Be imposed on you. In other words, you must have the legal liability for the tax.
2. The tax must be paid by you during the tax year. You can only deduct the tax in the year paid, not the year in which it is assessed. It is considered paid the day you mail or deliver the check provided the check is honored by the financial institution. If you use an electronic means of payment, the date of payment is the date recorded by the financial institution as the date it was paid."
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How many children can you get earned income credit for?
Answers: Earned income credit only covers the first two children that you claim. You get child tax credit for more than two.
I belive just the first two.
Do i have to pay taxes for a mutual funds in com?
Answers: Your mutual fund will send you a statement by the end of January which will tell you if you have any dividends or capital gains which must be included on your 2007 Federal Income Tax return.