Head Of Household Financial Aid
Question: Amend joint/married return to head of household and single returns?
I have been searching for hours trying to find this answer. I have a client who is married but has not lived with her husband for a few years (they are separated, but not legally) and she has a daughter who has lived with her this whole time. She has been giving her tax information to her husband for him to give to his CPA, so they have been filing Joint Returns.
She wants to amend her 2007 return because her daughter is trying to get financial aid for college and she cannot due to her parents making too much money, since they filed jointly. She was hoping to amend the return into two single returns, but I am aware that that is not possible. Is it possible that she can amend it to make herself head of household and then her husband can file a single return?
Answer: Your answer appears in the Internal Revenue Manual:
21.6.1.4.5 (10-01-2002)
Joint to Separate, Single, or Head of Household Procedures1. Married taxpayers may file separate returns on or before the due date of their originally filed Joint Return.
2. Disallow all claims postmarked after the due date.
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How to Complete a 1040A Tax Form : How to File a 1040A as Head of Household
Divorce Tax Exemptions
Question: Im a divorced guy, and earned about $15,000 in Quebec, Canada last year. What tax exemptions exist for me ?
What are the criterias for reducing income tax ? What is a tax write-off ? Is my estimation that on $ 15,000. of declared income in Canada, I would have to pay around $ 2000 income tax ? I don’t own a home yet, and live mostly in my truck when the weather is warm enough to save on rent and attempt to save toward a cabin.. Is there a way to be creative with one’s taxes ? Besides personal criteria for tax exemption, how much can I donate to charity or to an individual doing charitable work ? Can I write off any percentage of what I would pay in income tax toward my 20 yr old son’s college or univeristy education ? I am almost constantly driving and traveling when I do sales work.. Are there bills or receipts I am supposed to keep during the year that are helpful toward tax exemptions ? My commercial art business is not yet officially registered. To qualiify for tax exemption, is there an advantage to having your business registered or is it ta disadvantage ?
Answer: You can donate up to 75% of your net income. The non-refundable tax credit is 15.25% of the first $200 that you donate and 29% of the rest.
If your 20 year old son attended post-secondary education and received a T2202a for the tuition, HE has to claim it first if he has income to apply it against regardless of who paid for it. If there is any left after he claims his maximum, he can choose either to transfer it to you or to carry it forward until the next year.
You are self-employed. Sorry, I don’t have much experience with small business. It would be difficult to determine which percentage of your vehicle is used primarily for work and which part for personal…
You may need to speak to a tax professional or accountant to see what exactly you would qualify for as you get your business up and running.
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Common Tax Questions During a Divorce
File Taxes Married
Question: Can I file as married on my taxes if im not legally married?
Me and my Fiancee’ would like to get married in the near future maybe a year or two. In the meantime can we file our taxes as married even though we are not legally married? We live as husband and wife in all aspects of a commonlaw marriage, (known as husband and wife to people, share finances, share bank accounts, and co-habitate naturally) so my question is do you actually have to be legally married to someone to file that way on your taxes? I ask this because we are technically considered commonlaw in the state we live in we just aren’t recognized as commonlaw because we’ve never gone through the paperwork. (And yes there is some) So can i file that way? Also can I take his last name even though we are not married?
let me add a little bit here. Recently when i researched what it took to be recognized as common law husband and wife it required you file your taxes together jointly. so to me that means as married. or can you file taxes jointly with someone your not married too
Answer: A common law marriage, in states where it is still recognized and there aren’t many, is a legal marriage, and if you are common law married and want to split up, you’d have to get a divorce. And if you are married by common law, you not only can but must file your taxes as married.
If your state requires paperwork to be filed to be considered married by common law, and you haven’t filed it, then you do NOT meet your state’s requirements, and are NOT considered married, so can’t file taxes as married.
You can use whatever name you want to as long as you aren’t using it for fraudulent purposes.
This is probably a stupid question, but why don’t you just go get a license and get married officially and get rid of all the questions? You say you want to get married in the next year or two – what’s stopping you? It might be less hassle than the common law paperwork.
Buying a home or making green home improvements? Don’t miss out on these tax credits
(ARA) – A wide range of tax law changes over the last year will result in considerable savings for millions of Americans on their 2009 federal tax returns.
Life Changes Equal Tax Savings
Filing Separately When Married
Question: How will the tax cut work if you filed married filing separately? Will you still be eligible to receive or no?
Will you be eligible at all and if so how much? The 1200 per couple or 600 each? Can’t seem to find info on this any where
Answer: You’d each get a rebate in your own name, based upon your income and tax liability.
There’s a link at the top of the IRS home page that will tell you everything you’ll likely need to know. It’s updated frequently as the plan evolves and is the only source of official information on the rebate.
Standard deduction amounts increased
Married couples who’ve been submitting Joint Returns for a while will notice their standard deduction amount has jumped substantially in recent filing years.
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File Tax Return Online Uk
Question: How do you file taxes for 2008?
As I’m a UK citizen and employed this is something I have never had to deal with. It is not necessary for us unless you are self employed.
Anyway, my fiance (who’s a US citizen) and I are in the middle of applying for a K1 visa in order for me to travel to the US to marry and for me to become a permanent US resident.
The thing is, one of the documents I must bring to my visa interview is his latest tax return. So, from what I have found out so far, I think that would be 2008’s.
The only thing is, he hasnt filed for 2008 and was self employed during this whole year. Can anyone tell me simply and in detail how he can file for 2008? (IE what forms we need, whether we can do it online etc…) Also, how long does it take after filing for us to request a tax transcript for the filed year (2008).
Help is very much appreciated!!
Answer: Go to the IRS.gov website and download the instructions to Form 1040. It will tell you which forms you need to file and then you can download them. It sounds like you will need the 1040 Form and a Schedule C but you could need more. This is not something you can do on-line. If he owes taxes there will be a late penalty in addition to some interest. You may want to hire a CPA to help you. It can get very complicated.
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Death and/or Taxes