Tax Refund Marriage
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Question: marriage couple get tax benefits?
I know that those who are married get tax breaks or tax benefit but tax laws keep on changing each years. Now they say almost $8 billion- phone exercise tax refunds was not claimed. How many people knew about this? They turn and say many failed to claim deduction tied to local outlay. Were you aware of this too not to take advantage of of potential $3.6 billion deduction? What else would change in this years tax return?
Answer: Yes, I knew about the phone excise Tax Refund. It was 30.00.. You would think it would have been more but that was all. I have no idea what else will change on this years tax returns. Tax time is almost here and I dread it. . .
Married…With Children – Whose Room Is It Anyway?
Filing Status W4
Question: If I’m married can I still choose to file as SINGLE status on my W4?
The reason I’m asking is because I’m making about $30K more this year than last and I don’t have any big ticket tax deductions like a house or children. I think when you file as single more taxes are taken out, but I’m not sure if I can legally do that because I’m actually married, or does it matter?
Answer: For your W4, yes you can mark the Yes, I am married, but withhold at the higher single rate option. Then your employer will withhold more taxes, so you stand less of a chance of owing the government when you file your federal. Perfectly legal, it is not fraud!
Basic Explanation of W-4 tax Form : What is the Purpose of a W-4 Tax Form?
How To File Taxes After Extension
Question: When will I be audited because my child’s father claimed our daughter after I did?
I filed my taxes in February and, as per our agreement, I claimed my daughter on my taxes. Well, her father got an extension and filed in Oct. But he claimed her as well. He has his own business and I had earned income (I worked for someone not myself). Now I would like to know how long will it be before I am notified that I’m being audited. According to the new “rules” only one person is allowed to claim her and if they notice the same social being repeated, it flags something in the system. How is this done and how long does it take?
Answer: You won’t be audited, they will just send each of you a request for proof of eligibility. Since you have an agreement (in writing, I hope?) that says you get to claim her, submitting that will settle the issue. He may face fines for falsely claiming her, or they may just accept it as a mistake.
What to Do After You Hire a New Employee
Single Filing Tax Brackets
Question: Filing as married versus single?
I know that by filing as married, you get more back on your pay check. Does it even out at the end when tax time comes around? Does the benefit of having a bigger pay check require me to pay more back to the government come tax time or vice versa? If so, does that mean the only benefit as filing as married as opposed to single is placement in the tax brackets?
Answer: You must be talking about married filing joint. If legally married you only have two options- married/joint or married filing separate. You can’t file SINGLE at all.
If you file married/joint you agree upfront to let the IRS go after you for any taxes your lying cheating spouse is found later to have done. The IRS bribes you to sign jointly (bigger refund) so they can go after either one, two fish to fry!
If you file separate (to protect yourself) they tax you the hardest- WAY higher than “single”.
AND, If the spouse/rat has a home in his name only…The IRS even takes away your deductions (you’d normally get if single) like low income credit, or child care credit, or education expense, or Schedule A deductions for business mileage, car tags, etc.
WELL the IRS says it’s FAIR, afterall he is your spouse and we just ASSUMED that you & the stingy rat shared the benefit of ALL the “joint” income, and we ASSUME that YOU, the new wife lives in the home NOT the rat’s tax-free smiling all the way to the bank EX-WIFE.
How to Complete a 1040EZ Tax Form : How to File a Single Payment 1040EZ Tax Form
Gross Income Net Of Taxes
Question: Operating income, gross profit, net profit etc definitions?
Could you please define these words in formula terms:
Ex: Gross Profit= Sales – COst of goods Sold ( other expenses not included)For the following terms please.
OPerating Income
Operating Profit
Operating Margin
Net Profit
Net Profit before Tax ( and Interest)
Net working capital
Net capital Requirement
Capital requirementI am not sure but Operating income has also sth to do with a volume variance,
Thanks
well please still answer the questionAnswer: 1. Inventory sold * price per unit.
2. Operating income – COGS
3. Operating income / revenue.
4. Operating profit – indirect and overhead expenses not in COGS.
5. Net profit – SG&A (except interest).
6. Current Assets – Current liabilities.7. Capital requirement has to do with regulated corporations. It involves calculating debt / liquid assets. The “requirement” part is how much liquid assets they must have in order to be in compliance. So I’m sorry, but I’m not really sure how to answer this last part in a similar manner as those previous.
Investing in San Diego Real Estate Market Terms, NOI -NET OPERATING INCOME