If a single person only made 2400.00 will they still get a refund?
Answers: You do not have enough income to qualify for a rebate, but you may still benefit from the plan.
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.
So if you have taxable income in 2008, you will see a tax cut when you file in 2009.
I read the Economic Stimulus Act of 2008
As far as I understand it you must have a minimum of $3,000.00 in qualifying income.
So, based on this understanding, no you will not receive a refund.
As the bill passed, you must have a minimum of $3,000 in earnings to qualify for the rebate.
What can be claimed on taxes?
I am paying payments on my car and I needed to know if the interest that i am paying can be claimed on my taxesAnswers: The interest on your car is considered a personal expense which is not deductible.
Take a look at the below website for adjectives IRS approved deductions.
NA I TRIED!!
DONT WORK
No assumption unless you're self-employed and using your car contained by a business and have unreimbursed costs. Then use Schedule C.
Personal interest expenses (credit card, personal sports car, even business use as an employee of a company, etc.) is no longer deductible.
If you enjoy a mixture of business and personal use of a vehicle and are self-employed, you'll prorate the deductions base on the % of business use.
Good luck!
Being claimed as a dependent?
i am 21 soon to be 22 years old and live at home near my mom. she is a substitute teacher and i linger tables. i construct a lot more than she does and i give a hand out with bills but my name isnt on any of them. can she really claim me as a dependent? i had to compensate about 600 dollars closing year and the guy that did my taxes said that because she claims me thats why.Answers: Are you in conservatory full time? If not, she cannot claim you as a dependent anymore. The cuttoff age for children not in university is 19.
She couldn't even claim you as a "qualifying relative" if you made more than $3,400 closing year (which I assume you did), so she's out of luck.
DEPENDS IF YOU WANT HER TO..IF YOU DONT NO SHE CAN NOT!!
YOU CLAIM YOURSELF GET WHATS COMING TO YOU$$$.
OR IF YOU WANT HER TO CLAIM YOU YOU CAN LET HER..BUT SHE HAS TO SAY YOU DIDNT PAY ANY BILLS ETC.
I KNOW ALOT ABOUT THIS SH{T.ITS ALL UP 2 U!!
ITS YOUR MONEY!!
shes not legally allowed to claim you as a dependant after age 19 unless you're contained by college. then the cutoff I believe is 22. I would ask her not to claim you this year . report to her you owed the irs 600 because she claimed you last year..if it make her more willing not to do it relate her depending on how much you get subsidise, you'll give her a part of a set of your return ( you choose the amount) if she doesnt claim you..