Is my $1200 rebate considered taxable income for 2008?
Answers: No. It is not income, but it is an advance on your 2008 taxes.
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 in Federal Income Tax. If you only paid $350 in taxes (less than the $600 rebate limit), you only get back $350. If you had earned income of at least $3000, you would get at least the minimum rebate of $300.
While the rebate depends on your 2007 income, it is actually a rebate toward your 2008 taxes. According to the proposed plan, in 2008, taxes would be cut from 10 percent to zero percent on the first $6,000 dollars of taxable income for individual taxpayers.
It's like a one time tax cut for 2008, but you get the rebate now instead of waiting to file your 2008 taxes. Because this is an advance payment on your 2008 taxes, your refund next year could be more (or less!) depending on your 2008 income.
I recently heard that this is the case. BUMMER! I thought the feds were giving us $ to spend to help the economy. But, in truth, they never did call it a gift. So, I am not surprised that they plan on taxing it. Wouldn't you know.
My guru told me to ask for facilitate, and i dont hold anyone besides you! i kept getting these 5 qeustions wrong
(can you please show me how to solve it)?my teacher told me to ask for back, and i dont have anyone besides you! i kept getting these 5 qeustions wrong! not a hundred percent only post some, but if you want to lend a hand with my other problems, please i'd love to see how you do it..
find the state income import tax withheld in the following problems using the personal exemptions tabled below:
single: $1500
married: $3000
each dependent: $700
1.bob earn $30,940 annually as an accountant. He is married and supports 1 child. the state tax rate surrounded by his state is 4.5 percent of taxable income. what amount is withheld yearly for state income levy?
2.Aziza earns $34,850 annually as an scheme. she is single and supports her father. the state tax rate surrounded by her state is 3.0 percent of taxable income. what amount is withheld yearly for state income tariff?
3.Neh earns $42,500 annually as a brand new staff attorney. he is single. the state tax rate surrounded by his state is 3.5 percent of taxable income. what amount is withheld from his mont
Answers: Looks like two of the answerers get it partly right. To solve these problems, follow these steps:
1. Add up the exemptions that are applicable to the situation. e.g. Bob is married and have one child so his exemptions are $3000 + $700 = $3700
2. Subtract the exemptions from the income. e.g. For Bob, it would be $30,940 - $3700.
3. Multiply the result from step 2 by the tax rate. e.g. Bob's state taxes him at 4.5% so you would multiply the attraction from step 2 by 0.045 which is the decimal equivalent of 4.5%.
These are 6th grade arithmetic problems. Part of your childhood is figuring them out yourself.
Another "qeustion" to ask you is why not engender use of the spell checker.
you need to multiply the income by the percentage... 1. 30940 x .045 =
2. 34850 x .030 =
3. 42500 x .035 =
you'll need to do the math yourself to find the answers, like you said your asking for "help" ... if i solve it for you how is that helping?
Tax free shopping on UK pop in?
If you buy something in UK while on holiday how do you claim pay for the tax? Can you do it on anything; software, soap etc.Answers: Inside of UK, every time you shop at store near the logo “Tax Free”, you’ll fill a levy free form; not big deal newly your name, country of residence and total amount of the purchase; the sale person sign, stamp it and donate you a copy, with envelope (or address) provided. When departure the country drop all these forms surrounded by a mail box (post) or post them from your country. The relevant duty agency in UK will later issue you a cheque with the total of levy you’re entitle to, and mail it to you.
If you’re contained by Tax-free area at the airport, after you don’t need adjectives these, as all prices will be export tax free, while shopping you produce your passport and ticket.
Shops showing a TAX free symbol, will not charge tax as long as you show your passport