• Does the IRS ask for proof if one cites hardships for no health insurance?

    Best answer: They have definitions of what constitutes hardship or unaffordable.
    Best answer: They have definitions of what constitutes hardship or unaffordable.
    11 answers · 2 days ago
  • I want to withdraw some money from my Roth IRA account as a down payment on my 'first' house.?

    My account is older than 5 years and I am younger than 59. I understand that I can withdraw up to $10,000 of my 'earnings' tax- and penalty-free. What happen if I withdraw $15,000 of my earnings? Will the entire $15,000 be tax and penalize? Or only $5,000 since I am qualify for the $10,000 first home... show more
    My account is older than 5 years and I am younger than 59. I understand that I can withdraw up to $10,000 of my 'earnings' tax- and penalty-free. What happen if I withdraw $15,000 of my earnings? Will the entire $15,000 be tax and penalize? Or only $5,000 since I am qualify for the $10,000 first home purchase? Ex. I have $30,000 contribution and $20,000 earning. I want to withdraw $45,000 for a down payment on a house. I understand that $30,000 is my own contribution. I want to know if the $15,000 of my earning will be tax and penalize ENTIRELY. Or only $5,000 be tax and penalize?
    7 answers · 2 days ago
  • Barry & his wife Mary have accumulated over $3.5 million during their 50 years of marriage. They have three children and five grandchildren.?

    How much money can they gift to their children in 2014 without any gift tax liability? a. Maximum tax-free gifts to children $ b. How much money can Barry and Mary gift to their grandchildren in 2014 without any gift tax liability? c. What is the total amount of estate removed from Barry and Mary s estate in 2014?
    How much money can they gift to their children in 2014 without any gift tax liability? a. Maximum tax-free gifts to children $ b. How much money can Barry and Mary gift to their grandchildren in 2014 without any gift tax liability? c. What is the total amount of estate removed from Barry and Mary s estate in 2014?
    6 answers · 11 hours ago
  • Do you have to pay income taxes at 75?

    18 answers · 5 days ago
  • If someone resides in a country outside the USA but is a US citizen by birth even though they never lived there but works online for a US?

    company and has to have a US bank account to get money from that company....are they going to have a problem with both countries wanting to double tax even if their country has an agreement with the USA. The country is New Zealand.
    company and has to have a US bank account to get money from that company....are they going to have a problem with both countries wanting to double tax even if their country has an agreement with the USA. The country is New Zealand.
    6 answers · 1 day ago
  • Am I exempt from sales tax if I make barely any money and sell to no one in my state?

    I sell on ebay and net $1,500 a month right now. After fees, returns, and costs of good sold, I'm left making $800 a month profit. That's below poverty line as well and I'm not a very profitable business yet I'm constantly in debt to my business, live at my parents now at 22, and as of this year, I... show more
    I sell on ebay and net $1,500 a month right now. After fees, returns, and costs of good sold, I'm left making $800 a month profit. That's below poverty line as well and I'm not a very profitable business yet I'm constantly in debt to my business, live at my parents now at 22, and as of this year, I have made no sales to anyone in my State. Am I exempt from sales tax for now? I cannot make quarterly and monthly tax payments because the only income I have left is the little I have to live on for my car and food lol. Thanks.
    10 answers · 4 days ago
  • Where can I get the study guide for preparing the IRS enroll agent?

    If it's paid, which website I can reach? Thank you so much.
    If it's paid, which website I can reach? Thank you so much.
    5 answers · 2 days ago
  • Should My Employer Tax My Bonuses?

    I work in Colorado for a Mom & Pop business that has been operating for 40 years. The sales team does not work on commission,we all work as a team. A few years ago they started to give us all a sales bonus based on weekly sales,in cash. Last year they told us that they were no longer going to give us this... show more
    I work in Colorado for a Mom & Pop business that has been operating for 40 years. The sales team does not work on commission,we all work as a team. A few years ago they started to give us all a sales bonus based on weekly sales,in cash. Last year they told us that they were no longer going to give us this bonus in cash but rather included in our paycheck but that they would not be taking out federal taxes only social security,on the bonus amount only. Is this legal? And if not,how should I go about talking to my employer about this?
    18 answers · 7 days ago
  • I sold my house to my daughter for what I paid for it 30 yrs ago, it appraised for $80K more than I sold it for.?

    Can I claim a loss on my taxes? Do I have to claim it as income?
    Can I claim a loss on my taxes? Do I have to claim it as income?
    13 answers · 6 days ago
  • Is family pension taxable?

    6 answers · 4 days ago
  • Please explain this to me.(about tax refund)?

    A year ago, I had lost my tax refund check somewhere. A year later, my check that I had lost is re-mailed back here. But I didn t filed it lost or nothing? Can I cash that check in?
    A year ago, I had lost my tax refund check somewhere. A year later, my check that I had lost is re-mailed back here. But I didn t filed it lost or nothing? Can I cash that check in?
    7 answers · 4 days ago
  • No record of tax return?

    Best answer: You mailed them to the wrong place. They will NEVER get to the IRS.
    You SHOULD have dealt with this 6 weeks ago.

    Wayne Z couldn't be more WRONG if he asked the IRS and gave the EXACT OPPOSITE of their answer.
    Best answer: You mailed them to the wrong place. They will NEVER get to the IRS.
    You SHOULD have dealt with this 6 weeks ago.

    Wayne Z couldn't be more WRONG if he asked the IRS and gave the EXACT OPPOSITE of their answer.
    10 answers · 6 days ago
  • Can I use pre-tax commuter benefits to pay for parking?

    Best answer: Legally no. Your home parking expenses are not part of your commuting costs.
    Best answer: Legally no. Your home parking expenses are not part of your commuting costs.
    4 answers · 3 days ago
  • Trying to understand taxes/Saving up money?

    I will probably sound like a giant idiot throughout this, i'm really sorry. I just turned 15 and I had been planning to save up some money to buy this Xp-pen drawing tablet (Which costs around $500 on Amazon). None of the jobs near me will hire 15 year old's and my mom's doesn't feel safe with me... show more
    I will probably sound like a giant idiot throughout this, i'm really sorry. I just turned 15 and I had been planning to save up some money to buy this Xp-pen drawing tablet (Which costs around $500 on Amazon). None of the jobs near me will hire 15 year old's and my mom's doesn't feel safe with me going to people's houses to babysit, so I wanted to try doing art commissions (through Paypal and such on Deviantart or Tumblr). But from what I heard, any form of income you get you have to file taxes, which is something I have absolutely no idea about... Also if i'm just trying to get money to buy 1 thing (like this isn't something I think i'll be able to do every year as income) If i do have to file tax returns and stuff will they make me do it every year? TL;DR? If i'm just trying to save up money for something do I still have to file taxes and do I have to do it every year from then on?
    7 answers · 5 days ago