My 27 year aged son be injured contained by the military . I want to know if I can purloin him rotten my taxes as a dependant?
He owes the government a debt for an unpaid credit card. I salary all his living expenses. He's going to college near help from the VA. He made no income ending year.Answers: Your question is tentative.
If he is your son, lives with you and you provide his support, and he earn less than $3400, you can claim him as a dependent. There are worksheets for figure out if you provide his support, taking into account any military recompense, disability payments, etc. which he receives. If you don't want to claim him as a dependent, you simply don't put him down on your rates return.
Since he is your son, you paid over 50% of his support for the year, and he didn't own gross income of $3400 or more, yes you can claim him as a qualifying relative.
UK Tax Question: Starting Work Part Way Through The Year?
My partner is starting work for her first employer this tax year. Her total income for this duty year (April 06 to March 07) will be less than lb5,000, so accordingly sshould not pay any toll.Is there a course to ensure that she does not get tax at all this year, in need having to shift through a tax rebate subsequent year?
Hope this makes sense.
Answers: She will be tax under PAYE, and on those info no liability arises and she won't pay any excise.
I assume you mean the 2007/08 charge year as 2006/07 has finished.
Shot mart, thee recounting me i could owe over 100,000 upside down and owe taxes onthis as ably, prevent this!!
my realtor and mortgage co are negotiating to do a short Dutch auction on my home for under a 100,000. smaller amount than i owe on it , and telling me i could be responsible for oweing that spinal column. In addition they also said the IRS could step contained by and tell me it's taxible income and they will 1099 me for that difference as okay. i feel hopeless, can anyone assist me legally near what i'm going through. And how can it be considered income when i did'nt recieve a penny. help please DaleAnswers: You really stipulation the advice of Dave Ramsey. He is online at daveramsey.com and also on the TV and radio. You can phone in to find your specific question answered and he is a genuine estate guru and knows how to keep hold of you from ever getting in this situation again...
Forgiven or canceled debt is taxable because it is money that you owe and stop owing minus paying it. This is the same as if you received the money and used it to reward what you owe.
The rest of your question is not a charge question.
You could be held responsible for the amount you are short. You didn't receive the money, but you did receive something of meaning (the house) even though that was taken when you didn't income back the loan.
It individual would become taxable income if the lender forgives the $100K, so you wouldn't be both on the hook for paying that back AND paying the import tax on it.
Bankrupcy might get you out of this mess - I'm not recommend it, since it has long remaining effects, but it could end up one your best or only choice.
Good luck.