File Taxes Unemployment
Question: My father got unemployment from Pennsylvania, does he need to file taxes there…?
he’s a resident of ga and filed his unemployment on that return, but does he file in pennsylvania as well?
Answer: PA doesn’t tax unemployment, so if that was his only income in PA no he doesn’t have to file a PA returrn.
Workers dip into retirement accounts
Study finds record number of Americans did so in the face of unemployment, foreclosures and mounting bills.
Do I File My Unemployment As Wages on My Tax Return?
Tax Refund Unemployment
Question: Can I get a Tax Refund with unemployment?
I would like to know if I will get a refund. I turn in the forms to withhold taxes but they never did it and I was told that I will not get a refund because I didn’t pay taxes doing the year. i also have two dependents
Answer: If you had Federal withholding’s deducted from your UI benefits and you meet other filing requirements, then yes you can. The IRS website has a link for free efile services where you can find out but the state that provided your benefits should have sent you a 1099G, it will list any taxes that may have been deducted, check box 4.
With children, you can still receive Earned Income Credit, despite not having paid any taxes.
House vote tests job push
The House vote on a $30 billion small-business loan fund presents the first test of Obama’s renewed push for jobs spending. Read more…
California’s Economy
Income Verification Self Employed
Question: No income verification car loan with large % downpayment possible?
I want to purchase a 40,000 dollar car, however my employment is self-employed and it is hard to “verify” my income or show tax returns or paystubs or anything. I was wondering if I could put down a large % downpayment on the car and get the rest financed without income verification? A few places I went to said with 50% down they would do this, is this common? Can i do less down like 30-40%?
What kind of APR can i expect on the remaining financing, I have good credit but again its hard to show my “gross monthly income” on paper. Thanks
Answer: Consider this, a down payment exceeding 10k will be reported to the IRS
Being self employed with unverifiable income means that you are not completely reporting your income to the aforementioned federal agency and could wind you up on the wrong side of an auditors desk.
PhillyDeals: Cheap home loans aren’t affordable for all
The price of money is falling again, and homeowners who need cash are heading back to their banks for refinancing loans.
Bookkeeping for the Self Employed Tracks Income & Expenses Automatically and Free
Income Verification
Question: What banks/mortgage lenders still offer ‘No Income Verification Loans‘ (NIV) or ’stated income loans’?
use to be know as ‘no doc loans’
–looking for a home mortgage loan
–I know that these types of loans require a higher down payment, (like more than 20%) and come with higher interest rates,
–I’m self employed and would like to know if I can qualify for a mortgage without waiting 2 yrs for tax returns
Answer: Yikes, as a self-employed borrower you are naturally higher risk. If you’ve been self-employed less than 3 years, odds are you’re not making a profit and reporting losses to the IRS. Another strike.
Any lender who would give you a loan is probably about to go out of business or is very shady. Your best bet is to pay cash and then take out a HELOC once you have enough history to show that you’re making a profit.
IRS Streamlining Payments To Farmers
Agriculture Secretary Tom Vilsack announced that USDA is partnering with the Internal Revenue Service to reduce fraud in farm programs and streamlining payment limits for family farmers.
No Income Verification Credit Lines for Houston Business Owners