I%26#039;m expecting a baby in August. My home loan has been approved and I%26#039;m house hunting right now.
I%26#039;m single and usually my employer withholds about 1/3 of my paycheck for taxes because I have nothing to claim. Usually I get around $1000 back.
Should I adjust my witholdings?
I%26#039;d rather have the cash now and pay a balance due on my taxes at the end of this year. Plus, I%26#039;m going to get an 8k tax credit for buying a home with 20% down this year.
Not to sound morbid, but I%26#039;d hold off on modifying your withholdings until the little one arrives and takes his first breath.
One of the most gut-wrenching things I ever had to do was tell the parents of a still-born baby (and close friends of mine) that they were going to owe a few thousand at tax time because they jumped the gun on adjusting their withholdings in the expectation of the new addition to the family.
If you typically get $1,000 back you are having too much withheld from you pay. You can safely kick your allowances up by 1 right now. Then when the baby is born, kick it up by 2 more.
As soon as you close on the home you can amend your 2008 return and get your $8k in a few weeks. This won%26#039;t affect your withholding allowances on your 2009 pay.
Yes, you should adjust your W-4 allowances. In fact you may want to claim a very high number since the $8,000 tax credit for your house is likely to reduce your tax liability to nothing. Just don%26#039;t count your chickens before they hatch, don%26#039;t assume you%26#039;re buying a house until its officially closed.
%0D%0A
Sunday, March 29, 2009
AMT At-Risk Allowed Amount?
How do I find out what my AMT At-risk allowed amount is? I have a passive rental property with loss, MFJ, combined income is 224,000. Is there a certain formula?
The AMT difference arises if the AMT version of your 6198/8582 has different figures input into it. The differences arise from the fact that depreciation under AMT may be different that depreciation under the regular 1040 rules. In the early years of owning an asset, you add the disallowed depreciation back. In the later years of owning an asset, you subtract.
Depreciation differences are due to AMT stretching depreciation out over a longer time period than the regular 1040 rules. (If you have such property, it%26#039;s best to elect to depreciation using the AMT rules so that you never have to adjust for it.)
Depreciation of post-1986 property
(real and personal)
Under 1040 system:
Accelerated cost recovery system using prescribed recovery periods and 200% declining balance method for 3, 5, 7, and
10 year classes
Under AMT system:
For property placed in service after 1986 and before 1/1/99, alternative depreciation system class lives (generally longer) and 150%
declining balance method (generally slower) is used. For property placed in service after 12/31/98, regular tax lives are used.
%0D%0A
The AMT difference arises if the AMT version of your 6198/8582 has different figures input into it. The differences arise from the fact that depreciation under AMT may be different that depreciation under the regular 1040 rules. In the early years of owning an asset, you add the disallowed depreciation back. In the later years of owning an asset, you subtract.
Depreciation differences are due to AMT stretching depreciation out over a longer time period than the regular 1040 rules. (If you have such property, it%26#039;s best to elect to depreciation using the AMT rules so that you never have to adjust for it.)
Depreciation of post-1986 property
(real and personal)
Under 1040 system:
Accelerated cost recovery system using prescribed recovery periods and 200% declining balance method for 3, 5, 7, and
10 year classes
Under AMT system:
For property placed in service after 1986 and before 1/1/99, alternative depreciation system class lives (generally longer) and 150%
declining balance method (generally slower) is used. For property placed in service after 12/31/98, regular tax lives are used.
%0D%0A
If I were to file 5000 self employment income at the end of the year what would the penalty be with irs?
I earned the above amount and want to see about getting the earned income credit or tax credit will they deduct what I owe from it?
There are a number of factors that would be considered in determining an answer to your question that you have not provided the necessary information. Your filing status and number of dependents if any would be chief among those factors. If the $5,000 was your only income you would owe a maximum of $765 in SE tax. If for some reason you had credits that exceeded that amount they would deduct the SE tax from your refund amount. Most folks that have self employment have some expenses to off set the gross income so your SE tax would likely be less.
Your tax return will be prepared with this and any other income you received during the year. You will file a Sch. C to report your self-employment income and deduct the expenses you have for this income. Then the net income will be carried to Sch. SE to determine your self-employment taxes.
So if you qualify for Earned Income Credit, which is a refundable credit, this credit could help offset the amount of tax you owe due to the self-employment. As long as you report all your income correctly along with all allowable expenses deducted, you will normally not have a penalty. You could if you owed over $1000 on the income tax return.
Laura H ?H%26amp;R Block ?Senior Tax Advisor 5
**This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided.
There is no penalty, but your income will be taxed. Probably at the 15% bracket with another 7.5% for self employment tax. Hope you saved some.
There is no penalty for filing your taxes on time and honestly.
%0D%0A
There are a number of factors that would be considered in determining an answer to your question that you have not provided the necessary information. Your filing status and number of dependents if any would be chief among those factors. If the $5,000 was your only income you would owe a maximum of $765 in SE tax. If for some reason you had credits that exceeded that amount they would deduct the SE tax from your refund amount. Most folks that have self employment have some expenses to off set the gross income so your SE tax would likely be less.
Your tax return will be prepared with this and any other income you received during the year. You will file a Sch. C to report your self-employment income and deduct the expenses you have for this income. Then the net income will be carried to Sch. SE to determine your self-employment taxes.
So if you qualify for Earned Income Credit, which is a refundable credit, this credit could help offset the amount of tax you owe due to the self-employment. As long as you report all your income correctly along with all allowable expenses deducted, you will normally not have a penalty. You could if you owed over $1000 on the income tax return.
Laura H ?H%26amp;R Block ?Senior Tax Advisor 5
**This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided.
There is no penalty, but your income will be taxed. Probably at the 15% bracket with another 7.5% for self employment tax. Hope you saved some.
There is no penalty for filing your taxes on time and honestly.
%0D%0A
For those of you with IRS code 1121 that got your return, what did the wmr site say before you finally got it?
Supposedly according to the tax advocate, our return is supposedly done being reviewed and supposed to be direct deposited this week or next week. WMR still says 1121. For all of you who got your return after being at 1121 forever...did the WMR site ever update? I have heard some say it was at 1121 even after they got paid and others say they changed to 1201 1-3 weeks prior to getting their money. I just want to know whats been the general experience with this? If your code changed, how soon before and to what? Has anyone had it change to the page that tells your your refund will be deposited on a certain date? Please let me know. Thanks.
i love how people who dont even have the code answer with some link thinking it tells you everything. anyway i did read a question a few days back where someone said they had 1121 it did change to a different 12xx code and they end up getting it that friday and WMR didnt say anything. i dunno about you but i checked WMR last night and this morning just a few mins ago and it still says its down. usually its only down from 12am to 3am EST. Oh and i do have the 1121 code i filed mine on 1-29-09 and have been waiting like 60 days as of today. its very frustrating to deal with this. But basically the few people i have talked to that got their return said WMR either changed to a new code or didnt change and they got their refund.
i love how people who dont even have the code answer with some link thinking it tells you everything. anyway i did read a question a few days back where someone said they had 1121 it did change to a different 12xx code and they end up getting it that friday and WMR didnt say anything. i dunno about you but i checked WMR last night and this morning just a few mins ago and it still says its down. usually its only down from 12am to 3am EST. Oh and i do have the 1121 code i filed mine on 1-29-09 and have been waiting like 60 days as of today. its very frustrating to deal with this. But basically the few people i have talked to that got their return said WMR either changed to a new code or didnt change and they got their refund.
How do I file my taxes (read all)?
I have never filed taxes before and last year I started writing for a website called Demand Studios. I made about $960 for the 2008 calendar year and they sent me a 1099 form stating my non-employee compensation. They sent one for me to give to the IRS and the other for my records. I am so confused on what I am supposed to do with this. Could someone please help walk me through the process I am going to have to go through to file? I have no other income besides child support. Isn't child support non-taxable? Does that mean I do not have to claim my child support?
You will have to file an income tax return since you have self-employment income of at least $400. You will file a form 1040, with a Sch. C to show your income and to deduct any qualifying expenses you have. Then if your net income is at least $400 you will file a Sch. SE to pay your self-employment taxes. These are your Social Security and Medicare taxes.
You do not claim child support as income on your tax return. If you are not able to be claimed as a dependent by anyone else, and have a qualifying child, you could possibly receive Earned Income Credit on your net income. This could offset the SE tax you will owe. Your income is too low to owe any federal income tax.
I hope this helps.
Laura H ?H&R Block ?Senior Tax Advisor 5
**This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided.
You file Form 1040 and attach Schedule C or C-EZ to report your self-employment income and any business expenses. Any reasonable and necessary out of pocket expenses you incurred in generating that income are deductible. If the net profit is $400 or more, attach Schedule SE to figure the self-employment tax.
If this was your only income you won't owe any income taxes (the child support is not taxable and isn't reported on your return ) but you will potentially owe up to $135 in self-employment tax.
If your filing status is either Single or Head of Household and you are not a dependent you may be eligible to claim the Earned Income Credit based upon the net income on Schedule C as long as your child lived in your home for more than half of the year. That would be up to $332 if you have only one child or $390 if you have 2 or more. That will be enough to offset the self-employment tax and leave you with a small refund.
Child support is considered support for the child and thus is not taxable income.
You can file a Schedule C-EZ and a form 1040 along with a Schedule SE. Don't forget to file your state return
Any expenses you have as a writer can go on form C-Ez and your self employment tax will go on form schedule SE. You probably qualify for the earned income credit.
Are you sure you want to do this. Being self employed is a killer comes tax time especially if you plan to earn $20,000 to $30,000 doing this.
I would file an SS8 to see if self employment is what you really are.
You will have to file an income tax return since you have self-employment income of at least $400. You will file a form 1040, with a Sch. C to show your income and to deduct any qualifying expenses you have. Then if your net income is at least $400 you will file a Sch. SE to pay your self-employment taxes. These are your Social Security and Medicare taxes.
You do not claim child support as income on your tax return. If you are not able to be claimed as a dependent by anyone else, and have a qualifying child, you could possibly receive Earned Income Credit on your net income. This could offset the SE tax you will owe. Your income is too low to owe any federal income tax.
I hope this helps.
Laura H ?H&R Block ?Senior Tax Advisor 5
**This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided.
You file Form 1040 and attach Schedule C or C-EZ to report your self-employment income and any business expenses. Any reasonable and necessary out of pocket expenses you incurred in generating that income are deductible. If the net profit is $400 or more, attach Schedule SE to figure the self-employment tax.
If this was your only income you won't owe any income taxes (the child support is not taxable and isn't reported on your return ) but you will potentially owe up to $135 in self-employment tax.
If your filing status is either Single or Head of Household and you are not a dependent you may be eligible to claim the Earned Income Credit based upon the net income on Schedule C as long as your child lived in your home for more than half of the year. That would be up to $332 if you have only one child or $390 if you have 2 or more. That will be enough to offset the self-employment tax and leave you with a small refund.
Child support is considered support for the child and thus is not taxable income.
You can file a Schedule C-EZ and a form 1040 along with a Schedule SE. Don't forget to file your state return
Any expenses you have as a writer can go on form C-Ez and your self employment tax will go on form schedule SE. You probably qualify for the earned income credit.
Are you sure you want to do this. Being self employed is a killer comes tax time especially if you plan to earn $20,000 to $30,000 doing this.
I would file an SS8 to see if self employment is what you really are.
In reference to tax question about amendment?
i had h and r block do the original return and they messed up. i got them to do the amendment also. they told me 4 to 6 weeks.
The IRS guideline is 8-12 weeks.
Dear Billy: Amendments must be mailed and thus the long delay.
This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled Agent Master Tax Advisor
It would be rather quick if you saw a refund from an amendment within 6weeks.
The IRS guideline is 8-12 weeks.
Dear Billy: Amendments must be mailed and thus the long delay.
This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled Agent Master Tax Advisor
It would be rather quick if you saw a refund from an amendment within 6weeks.
Q
I had a few questions about capital gains tax in california and in general if you could please help me.
1) How much is short term capital gains tax?
2) How much is long term capital gains tax?
3) If I were to have stock and then pull out in order to invest in something else with equitable amount, do I still have to pay the capital gains tax? (For example, if I had stock in BAC and then sold it to buy a house, will I still be taxed?)
1. Taxed as ordinary income (whatever your tax bracket is).
2. Taxed at a lower rate.
3. Yes.
1) How much is short term capital gains tax?
2) How much is long term capital gains tax?
3) If I were to have stock and then pull out in order to invest in something else with equitable amount, do I still have to pay the capital gains tax? (For example, if I had stock in BAC and then sold it to buy a house, will I still be taxed?)
1. Taxed as ordinary income (whatever your tax bracket is).
2. Taxed at a lower rate.
3. Yes.
Can a part time employee claim unemployment benefits in Calif.?
I have been at the same job for just over five years,I work 20 hrs. a week for a supermarket chain....Today I found out that our dept. has been canceled and we have just 30 days left.Am I able to file for unemployment benefits even though I am only part time? I sure hope so...
Depends on CA laws. When you are laid off, sign on immediately and you will find out. The amount that you can claim for depends on how much you earned.
Depends on CA laws. When you are laid off, sign on immediately and you will find out. The amount that you can claim for depends on how much you earned.
How do i do my taxes?
simple question just want to know
You collect all your income statements and fill out the correct form and send it in. Forms (1040, 1040A and 1040EZ) can be downloaded from the IRS web site. Unless you have a mortgage and pay property taxes, you most likely will fill out the 1040A, which should take maybe 30 minutes.
go to the website IRS.GOV and e-file your own taxes for free
You collect all your income statements and fill out the correct form and send it in. Forms (1040, 1040A and 1040EZ) can be downloaded from the IRS web site. Unless you have a mortgage and pay property taxes, you most likely will fill out the 1040A, which should take maybe 30 minutes.
go to the website IRS.GOV and e-file your own taxes for free
Help me please !!! well i let my brother add my kids to his taxes ?
well first off i didn%26#039;t make enough to file for taxes because im a stay at home mom! well my brother help me out here and there he live with me and my boyfriend he doesn%26#039;t pay rent just the 30$ car insurance a month he doesn%26#039;t buy food or pays any utilities ! well my boyfriend does! so my brother made to much at least 48,000$ so if he filed he would owe so he asked if he could use my kids that he would give me the money which he said it was 800$ a kid which was two kids so i believed him but someone told me that ist 900$ a kid so please help can i get a copy of his tax return since my kid are on there is there anything else i can do !
p.s.i know i f***ed up Dumb Me
If I were doing this tax return, I would ask, is the boyfriend the father of any of the kids? How long did the boyfriend live you you?
Or, did your brother provide more than 50% of your children%26#039;s total support?
I would need that information to even come close to working this out.
There are two ways of claiming dependents, qualifying child, or qualifying relative.
If your kids qualify for qualifying child to your boyfriend, your brother can%26#039;t (legally) claim them.
No matter what, you are going to hurt either your boyfriend or your brother.
If your brother did not provide over 50% of your children%26#039;s support, (implied from the question), also he cannot claim them.
Well, it might be worth it to get a Pub 17 (free at IRS.GOV) and work out WHO can legally claim the kids (you, your bf, or your brother). There is not really enough information here. Then, having worked that out, have the person claim them, and the other person (your brother) do an amended return, removing them.
I don%26#039;t see how your brother claimed kids that are not even his ?
You have a problem.
If YOUR income was less than $3500 and your boyfriend supported you, then he can claim you on his taxes. With no income, you can%26#039;t claim the children.
If your brother lived with you for more than 6 months, then *he* is eligible to claim your children as qualifying children. Thus prohibiting your boyfriend from doing the same a relative takes precedence over someone who *isn%26#039;t* related to the children by blood or marriage. If your boyfriend *is* eligible, he can keep the refund as it%26#039;s his.
Only if your brother lived with you for 6 months or less is your boyfriend eligible to claim the kids.
As for how much your brother got for claiming your children, it might have been as much as $3000, but again, it%26#039;s his refund, not yours.
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p.s.i know i f***ed up Dumb Me
If I were doing this tax return, I would ask, is the boyfriend the father of any of the kids? How long did the boyfriend live you you?
Or, did your brother provide more than 50% of your children%26#039;s total support?
I would need that information to even come close to working this out.
There are two ways of claiming dependents, qualifying child, or qualifying relative.
If your kids qualify for qualifying child to your boyfriend, your brother can%26#039;t (legally) claim them.
No matter what, you are going to hurt either your boyfriend or your brother.
If your brother did not provide over 50% of your children%26#039;s support, (implied from the question), also he cannot claim them.
Well, it might be worth it to get a Pub 17 (free at IRS.GOV) and work out WHO can legally claim the kids (you, your bf, or your brother). There is not really enough information here. Then, having worked that out, have the person claim them, and the other person (your brother) do an amended return, removing them.
I don%26#039;t see how your brother claimed kids that are not even his ?
You have a problem.
If YOUR income was less than $3500 and your boyfriend supported you, then he can claim you on his taxes. With no income, you can%26#039;t claim the children.
If your brother lived with you for more than 6 months, then *he* is eligible to claim your children as qualifying children. Thus prohibiting your boyfriend from doing the same a relative takes precedence over someone who *isn%26#039;t* related to the children by blood or marriage. If your boyfriend *is* eligible, he can keep the refund as it%26#039;s his.
Only if your brother lived with you for 6 months or less is your boyfriend eligible to claim the kids.
As for how much your brother got for claiming your children, it might have been as much as $3000, but again, it%26#039;s his refund, not yours.
%0D%0A
HELP!!I lost my relative
What can I do? It was received by mail and I've misplaced(?!!!) or shredded(???!!!) accidentally. I spent the whole day going through my documents without any success:((((
I am afraid even to tell her. Please help!! What should I do?
So, have her call the IRS and ask them to reissue the letter.
What do you need it for?
I am afraid even to tell her. Please help!! What should I do?
So, have her call the IRS and ask them to reissue the letter.
What do you need it for?
Import Duty
I was charged 80 for some of my OLD OLD OLD clothes I got sent over from Japan. The contents were clearly written on the parcel label and I don't think they were even bothered to check what was in the box (if they did, they wouldn't have charged me!). Can anyone tell me what I was charged for and if there's no good reason for it, do you think I can claim a refund???
hah probably not.
I think its time we went and fire bombed customs! :o)
Bunch of twats they are (I love that word being uncensored)
I once got charged 20 quid import on something I bought, but when I checked turned out that you didn't need to actually pay import. :o( Its gay.
It may help though if you tell them its worth less than 18 quid. (you don't get taxed on stuff under 18 pounds)
hah probably not.
I think its time we went and fire bombed customs! :o)
Bunch of twats they are (I love that word being uncensored)
I once got charged 20 quid import on something I bought, but when I checked turned out that you didn't need to actually pay import. :o( Its gay.
It may help though if you tell them its worth less than 18 quid. (you don't get taxed on stuff under 18 pounds)
I
If you worked in the US and were paid in the US and paid in US $'s - you pay US taxes.
If you had gone to UK and got paid while working there then you would first file in the UK and pay them any taxes you owe them but then you would still need to report this income to the IRS and pay US taxes on it. It might get reduced by the amount of UK taxes paid.
The US taxes US citizens on any income you make anywhere in the world.
I believe the USA if you worked in USA.
If you had gone to UK and got paid while working there then you would first file in the UK and pay them any taxes you owe them but then you would still need to report this income to the IRS and pay US taxes on it. It might get reduced by the amount of UK taxes paid.
The US taxes US citizens on any income you make anywhere in the world.
I believe the USA if you worked in USA.
Can i claim mother as dependent?
Hi,
Is it possible for me to claim some amount for my mother as her Income is ($8000)lower than basic amount?
Since she has some room for income.
Thanks in Advance;-)
Assuming you live in Canada, to claim someone over the age of 18 as a dependant, they have to be either physically or mentally infirm.
Unless that $8000 is social security, no. If her income other than ss is over $3500 you can't claim her. Otherwise, if you can show that you provide over half of her support for the year, you can.
If she is physically or mentally infirm, yes.
If she is just living with you because of convenience, or choice, or economics, then no.
If she lives with you yes. I claimed my step-mother when she lived with me and had SS income
Is it possible for me to claim some amount for my mother as her Income is ($8000)lower than basic amount?
Since she has some room for income.
Thanks in Advance;-)
Assuming you live in Canada, to claim someone over the age of 18 as a dependant, they have to be either physically or mentally infirm.
Unless that $8000 is social security, no. If her income other than ss is over $3500 you can't claim her. Otherwise, if you can show that you provide over half of her support for the year, you can.
If she is physically or mentally infirm, yes.
If she is just living with you because of convenience, or choice, or economics, then no.
If she lives with you yes. I claimed my step-mother when she lived with me and had SS income
Any extensions for people with dual status for tax year 2008?
I figured out that I was on dual status last year since I left the country in between. Pub 519 does not talk about the applying for extension for dual status aliens(Chapter 6) It only mentions it for non-residents (only) and residents (only). Can anyone clarify if extension are available to dual-status aliens at all ? Thanks !
Anupam
P.S(I hope I am using the right version of pub519 - There is no new version for tax year 2008 and I have to use the 2007 version right?)
The 2008 issue has not been published. The laws haven't changed.
As for filing, you are to file 4868 by 4/15 if you are in the country, 6/15 if you now live and work outside the US.
Anupam
P.S(I hope I am using the right version of pub519 - There is no new version for tax year 2008 and I have to use the 2007 version right?)
The 2008 issue has not been published. The laws haven't changed.
As for filing, you are to file 4868 by 4/15 if you are in the country, 6/15 if you now live and work outside the US.
Will I have to pay back my reduction in federal taxes on my paychecks for 2009?
This is FREAKING ME OUT! I make minimum wage at a pizza place and just found out that they're taking less out for federal taxes from my biweekly paycheck, which is nice, BUT here's my major worry...will I get a nasty suprize at the end of the year and learn I have to pay that $20-30 every two weeks I get to keep now that will pile up to a whopping $600-700 by February of next year? I hope to hell not! I can't find anything on this and my boss and coworkers don't know.
You'll get a $400 tax credit when you file, that should even out with the decrease in withholding.
There are often changes made to tax policy in the middle and end of the year. There is no way to predict the complete "tax picture" that will be in effect when you are filling your 2009 taxes.
However, one option you have would be to use a program like Turbotax (the 2008 version) casing out your expected 2009 earnings and withholding using the 2008 program. This will give you a reasonable estimate of taxes that you will owe in 2009.
If you filled out the withholding form properly, your employer is probably calculating withholding correctly. Make sure you did not claim more exemptions than you will be able to take on your 2009 taxes.
You'll get a $400 tax credit when you file, that should even out with the decrease in withholding.
There are often changes made to tax policy in the middle and end of the year. There is no way to predict the complete "tax picture" that will be in effect when you are filling your 2009 taxes.
However, one option you have would be to use a program like Turbotax (the 2008 version) casing out your expected 2009 earnings and withholding using the 2008 program. This will give you a reasonable estimate of taxes that you will owe in 2009.
If you filled out the withholding form properly, your employer is probably calculating withholding correctly. Make sure you did not claim more exemptions than you will be able to take on your 2009 taxes.
Who do I owe income tax?
If I live in Missouri and work in Kansas, do I pay income tax in both states?
You prepare both state returns. Most states have a non-resident option on state tax forms. You will get a credit in your resident state for taxes paid to your non-resident state.
Yes, you should file a full year resident of Missouri and a Non-Resident Kansas return. This is to your benefit even though it seems like a hassle. You do not want to overpay right?
Did you know that no federal law exists that states you HAVE to pay a federal income tax?
Look it up
You prepare both state returns. Most states have a non-resident option on state tax forms. You will get a credit in your resident state for taxes paid to your non-resident state.
Yes, you should file a full year resident of Missouri and a Non-Resident Kansas return. This is to your benefit even though it seems like a hassle. You do not want to overpay right?
Did you know that no federal law exists that states you HAVE to pay a federal income tax?
Look it up
Question about benefits, HMRC?
This question is on behalf of someone else! I was asked to find out!
I haven't received any letters from Child benefit/Tax Credit asking me whether my child will continue education. I thought they ask you before April. How comes they haven't asked me??
This happened last time and they stopped my benefits because I didn't rely but the thing is I didn't receive any letter to know that I needed to reply.
tax credit office tel 0845 300 3900 8am-10pm Mon to Friday 8 tip 4 weekends 8-4.
They'll be able to update the system for you, and tell you the number for child benefit office to update there too.
I'd phone and speak to someone, cause then it's on your notes that you made contact.
Why not phone the offices and check on when it will be sent? that way they will know you are waiting for it to arrive and wanting to reply !!
I haven't received any letters from Child benefit/Tax Credit asking me whether my child will continue education. I thought they ask you before April. How comes they haven't asked me??
This happened last time and they stopped my benefits because I didn't rely but the thing is I didn't receive any letter to know that I needed to reply.
tax credit office tel 0845 300 3900 8am-10pm Mon to Friday 8 tip 4 weekends 8-4.
They'll be able to update the system for you, and tell you the number for child benefit office to update there too.
I'd phone and speak to someone, cause then it's on your notes that you made contact.
Why not phone the offices and check on when it will be sent? that way they will know you are waiting for it to arrive and wanting to reply !!
Total number of months for which tax is to be deducted from salary during a year?
There are 12 months in a year for which salary is computed for calculation of Income Tax ? what happens when salary for march is paid in march the total number of months is 13. Please guide ?
March to March is 12 months. Where do you get 13?
March to March is 12 months. Where do you get 13?
Can I anonymously call the IRS and ask tax related questions?
Sure.
Yes all calls are annonymous you dont even have to ask. They will only ask personal info if your asking them to figure something out for you personally. Its a great service they will give you info and do more if you need it.
You're free to do what you want, but why do you have to anonymous, unless you are cheating in some way? They answer everything.
Yes all calls are annonymous you dont even have to ask. They will only ask personal info if your asking them to figure something out for you personally. Its a great service they will give you info and do more if you need it.
You're free to do what you want, but why do you have to anonymous, unless you are cheating in some way? They answer everything.
Is the sales tax on 2009 cars tax deductible?
If you don't itemize, the sales tax may be added to the standard deduction. $1000 in sales tax may reduce your tax liability by $150 to $250.
If you itemize, the sales tax will still be added to the sales tax line.
On new cars with some restrictions.
If you itemize, the sales tax will still be added to the sales tax line.
On new cars with some restrictions.
Tax on depreciation for house?
I was given a home from my parents last year. I claimed depreciation on the house for 2008 and was told by the tax office that when I decide to sell the house I will have to pay a tax on the depreciation claimed during my ownership unless I live in the house for 2 years but since I live in NM and the home is in Maine I don%26#039;t see me using the home except has a summer/fall camp. My question is that my parents owned the house from 1996 - 2007 and also claimed depreciation on the house throughout those years, but since the house was gifted to me and no capital gains had to be claimed do I or my parents have to pay a tax for the years of 1996 - 2007?
Backup. This is an area of common misconceptions.
When you rent a house and depreciate it, the depreciation reduces the basis on your house. While you depreciate it, you get to deduct that depreciation from your income and get to pay lower taxes because of it. When you sell, your gain is coming from two sources. Gain because the value of the house went up is excludable under the sale-of-main home rules (up to $250K if you lived and owned it for 2 of the past 5 years). If you can%26#039;t exclude this gain, after a year, it%26#039;s taxed at no more than 15%. Gain because of depreciation is NOT excludable. It%26#039;s called 1250 gain and is taxed at your regular tax rates, but the tax rate is capped at 25%. (You have to pay the tax back at the regular rate because you deducted it earlier at the regular rate.)
That said, when you were given the house, you were given the gains issues as well. Any capital gains your parents never paid on it are now your problem. You kept their basis when they gave you the property. (IRS pub 551, page 9.)
So yes, you WILL owe the tax on the both the gain from appreciation and the gain from depreciation when you decide to sell.
I believe your tax office is correct.
Depreciation reduces the basis. When you sell, the %26quot;profit%26quot; (sales price minus bases) is taxable income.
The %26quot;exception%26quot; the tax office was quoting is, if it is a personal home, you can exclude $250K of %26quot;profit%26quot; from income. You would have to live in the home two of the last five years to qualify.
Since they seem to be an accurate source of information and have all the details, you could ask them more specific (what if) questions.
What %26quot;tax office%26quot;? The only circumstance that allows you to depreciate real estate is if you are using it to produce income (i.e., renting it out). any claimed depreciation will be adjusted from your acquisition cost basis when you sell it - which will affect any capital gains tax due.
You will have the same basis in the house your parents had. When you sell it you will need to pay the capital gains tax. Any depreciation is a reduction of the basis. Weather you claim the depreciation or not you still need to use it to get your gain so their is no advantage to giving up the deduction from the rental income.
If it isn%26#039;t a rental you can%26#039;t depreciate a home. If you stay more than 14 nights a year you can%26#039;t deduct any rental losses.
The only way out of dealing with this is to use a 1031 exchange. You need to understand them before you do anything else. You need a professional to help set one up.
%0D%0A
Backup. This is an area of common misconceptions.
When you rent a house and depreciate it, the depreciation reduces the basis on your house. While you depreciate it, you get to deduct that depreciation from your income and get to pay lower taxes because of it. When you sell, your gain is coming from two sources. Gain because the value of the house went up is excludable under the sale-of-main home rules (up to $250K if you lived and owned it for 2 of the past 5 years). If you can%26#039;t exclude this gain, after a year, it%26#039;s taxed at no more than 15%. Gain because of depreciation is NOT excludable. It%26#039;s called 1250 gain and is taxed at your regular tax rates, but the tax rate is capped at 25%. (You have to pay the tax back at the regular rate because you deducted it earlier at the regular rate.)
That said, when you were given the house, you were given the gains issues as well. Any capital gains your parents never paid on it are now your problem. You kept their basis when they gave you the property. (IRS pub 551, page 9.)
So yes, you WILL owe the tax on the both the gain from appreciation and the gain from depreciation when you decide to sell.
I believe your tax office is correct.
Depreciation reduces the basis. When you sell, the %26quot;profit%26quot; (sales price minus bases) is taxable income.
The %26quot;exception%26quot; the tax office was quoting is, if it is a personal home, you can exclude $250K of %26quot;profit%26quot; from income. You would have to live in the home two of the last five years to qualify.
Since they seem to be an accurate source of information and have all the details, you could ask them more specific (what if) questions.
What %26quot;tax office%26quot;? The only circumstance that allows you to depreciate real estate is if you are using it to produce income (i.e., renting it out). any claimed depreciation will be adjusted from your acquisition cost basis when you sell it - which will affect any capital gains tax due.
You will have the same basis in the house your parents had. When you sell it you will need to pay the capital gains tax. Any depreciation is a reduction of the basis. Weather you claim the depreciation or not you still need to use it to get your gain so their is no advantage to giving up the deduction from the rental income.
If it isn%26#039;t a rental you can%26#039;t depreciate a home. If you stay more than 14 nights a year you can%26#039;t deduct any rental losses.
The only way out of dealing with this is to use a 1031 exchange. You need to understand them before you do anything else. You need a professional to help set one up.
%0D%0A
Face amount certificate tax form?
Hi. In 2008, I closed a %26quot;certificate of savings%26quot; account which I had been contributing after-tax dollars to for several years. It had about a 1.7% interest rate.
Now I%26#039;m doing my taxes and looking at a 1099-B the bank sent me.
They list it as a Face Amount Certificate with a date of sale, quantity of zero, and a Gross Proceeds amount equal to my final balance.
I%26#039;m trying to enter this into HR Taxcut, but it doesn%26#039;t have an obvious place to put this info. The 1099B input form wants name of stock, date of purchase, date of sale, etc, to calculate my profit.
I shouldn%26#039;t be taxed on my final balance because it was my own after-tax money to begin with. Shouldn%26#039;t I just be taxed on the interest earned in 2008?
Thanks.
With some tax programs you are not given options that fit the circumstances you are trying to report. That appears to be the case here. The normal answer is, %26quot;lye to the machine%26quot;. The correct information on a Schedule D is what you are looking for. In this case that would %26quot;Savings Certificate%26quot; as the name of the stock, the purchase price would be your contributions and the sales price would be the face value when you closed the certificate. If they ask for a purchase date enter %26quot;various%26quot;. You are correct that you only want to be taxed on the interest. You have exceeded the ability of do-it-yourself tax software.
%0D%0A
Now I%26#039;m doing my taxes and looking at a 1099-B the bank sent me.
They list it as a Face Amount Certificate with a date of sale, quantity of zero, and a Gross Proceeds amount equal to my final balance.
I%26#039;m trying to enter this into HR Taxcut, but it doesn%26#039;t have an obvious place to put this info. The 1099B input form wants name of stock, date of purchase, date of sale, etc, to calculate my profit.
I shouldn%26#039;t be taxed on my final balance because it was my own after-tax money to begin with. Shouldn%26#039;t I just be taxed on the interest earned in 2008?
Thanks.
With some tax programs you are not given options that fit the circumstances you are trying to report. That appears to be the case here. The normal answer is, %26quot;lye to the machine%26quot;. The correct information on a Schedule D is what you are looking for. In this case that would %26quot;Savings Certificate%26quot; as the name of the stock, the purchase price would be your contributions and the sales price would be the face value when you closed the certificate. If they ask for a purchase date enter %26quot;various%26quot;. You are correct that you only want to be taxed on the interest. You have exceeded the ability of do-it-yourself tax software.
%0D%0A
Tuesday, March 24, 2009
Are we headed for a short run of DOW going up?
If so how long do you think it'll last and how high will it go?
1. No. I think it will go up more before going down and making a higher support.
2. Mid/late April, 8500-9000
The market will tell you.
When you throw a dead cat off of a building it will take a bounce or two up!
Wasn't this rescue package supposed to provide money for banks in the first place?
Now money will start to go to people who should never have gotten a home in the first place and those who took second and third mortgages on that account to buy Mercedes, trips to Europe, new swimming pools or fancy boats - now our tax money will bail those bums out of a jam!
Will these same people who shouldn't have been granted a loan for a house be given another bite at the apple so we can have another mega trillion dollar bail out in the future - probably!
Of course the DOW will go up, it has always gone up - even without any stimulus programs! House prices are lower now so people will buy them. When homes are purchased home owners often purchase refrigerators, washers and dryers, up date electricity, buy new furniture and probably some do some landscaping and other home improvements - this spending puts money out there on the street! The DOW always goes up - eventually!
i think we trade within a 1000dollar range up/down for a while.
I think reality sets in after the flood of bad earning reports
And this triggers a drop in the DOW.
We then test that 6000 mark.
Then we cruse upwards above the meaningful 8400 mark.
If it happens like this I would consider it an amazing classic American comeback. I would not be surprised. Capitalism could fix this market without TARP.
1. No. I think it will go up more before going down and making a higher support.
2. Mid/late April, 8500-9000
The market will tell you.
When you throw a dead cat off of a building it will take a bounce or two up!
Wasn't this rescue package supposed to provide money for banks in the first place?
Now money will start to go to people who should never have gotten a home in the first place and those who took second and third mortgages on that account to buy Mercedes, trips to Europe, new swimming pools or fancy boats - now our tax money will bail those bums out of a jam!
Will these same people who shouldn't have been granted a loan for a house be given another bite at the apple so we can have another mega trillion dollar bail out in the future - probably!
Of course the DOW will go up, it has always gone up - even without any stimulus programs! House prices are lower now so people will buy them. When homes are purchased home owners often purchase refrigerators, washers and dryers, up date electricity, buy new furniture and probably some do some landscaping and other home improvements - this spending puts money out there on the street! The DOW always goes up - eventually!
i think we trade within a 1000dollar range up/down for a while.
I think reality sets in after the flood of bad earning reports
And this triggers a drop in the DOW.
We then test that 6000 mark.
Then we cruse upwards above the meaningful 8400 mark.
If it happens like this I would consider it an amazing classic American comeback. I would not be surprised. Capitalism could fix this market without TARP.
Where can I get something like a $2000 Visa gift card?
All the gift credit cards seem to have $500 limits. For their 60th birthday, the family is all chipping in to get my parents a cruise and wanted to throw in something like a $2000 for airfare and various expenses, Any suggestions would be appreciated.
I think the easiest thing might be to just get them 4 $500 cards and you could label them like with fun stickers put "airfare" on 2 of them and put "fun" on the other 2.
Or you guys could pool all the money to one person and that person could go to the bank and get a cashier's check for the 2,000. Then your parents could just deposit the money into their checking account and use if from there.
Try looking in to honeymoon wedding gift registry. I know that you can register your honeymoon on various travel websites, then gift givers will gift the money into the account toward airfare, hotel stays, dinners, excursions, etc. I'm sure the same rules would apply for anniversary and birthday gifts.
not sure if Visa has gift card that high but here is an suggestion
American airlines sells gift cards up $1500 and according facts
(shown below ) you could get two cards
from the American airline gift card website:
American Airlines Gift Cards Are Available On AA.com
Purchase Online
Looking for the perfect gift idea? Consider the gift of travel the next time you need a birthday, wedding or graduation gift for someone special. American Airlines Gift Cards are available for purchase and redemption at AA.com in any denomination between $50 and $1500. You can buy either a plastic card and have it mailed or a virtual card delivered via email. You can use up to eight (8) Gift Cards at one time toward the purchase of a ticket to hundreds of exciting destinations throughout the world. And, with no expiration date or fees, American Airlines Gift Cards are perfect for any occasion. Terms and Conditions apply.
If you ring visa they will send you one out.
I think the easiest thing might be to just get them 4 $500 cards and you could label them like with fun stickers put "airfare" on 2 of them and put "fun" on the other 2.
Or you guys could pool all the money to one person and that person could go to the bank and get a cashier's check for the 2,000. Then your parents could just deposit the money into their checking account and use if from there.
Try looking in to honeymoon wedding gift registry. I know that you can register your honeymoon on various travel websites, then gift givers will gift the money into the account toward airfare, hotel stays, dinners, excursions, etc. I'm sure the same rules would apply for anniversary and birthday gifts.
not sure if Visa has gift card that high but here is an suggestion
American airlines sells gift cards up $1500 and according facts
(shown below ) you could get two cards
from the American airline gift card website:
American Airlines Gift Cards Are Available On AA.com
Purchase Online
Looking for the perfect gift idea? Consider the gift of travel the next time you need a birthday, wedding or graduation gift for someone special. American Airlines Gift Cards are available for purchase and redemption at AA.com in any denomination between $50 and $1500. You can buy either a plastic card and have it mailed or a virtual card delivered via email. You can use up to eight (8) Gift Cards at one time toward the purchase of a ticket to hundreds of exciting destinations throughout the world. And, with no expiration date or fees, American Airlines Gift Cards are perfect for any occasion. Terms and Conditions apply.
If you ring visa they will send you one out.
How to stop NCO Financial sending you letter from past debt over 10 yrs?
I had some bad debt from the 1990, and NCO kept buying it from other financial. How can I get this off my record?
First off, NEVER, NEVER, NEVER acknowledge the debt. If you do, the statute of limitations on the debt starts fresh -- It's as if the debt occurred today.
Second, you should deny the debt. Tell NCO to provide clear and convincing proof of the debt including an authentic copy of the original contract. If the debt is a revolving debt (i.e., credit card type), then demand an authentic copy of the last five monetary transactions showing details of the proof of sale.
First off, NEVER, NEVER, NEVER acknowledge the debt. If you do, the statute of limitations on the debt starts fresh -- It's as if the debt occurred today.
Second, you should deny the debt. Tell NCO to provide clear and convincing proof of the debt including an authentic copy of the original contract. If the debt is a revolving debt (i.e., credit card type), then demand an authentic copy of the last five monetary transactions showing details of the proof of sale.
Segmenting the market?
What are the advantages of segmenting the market by characteristics?
Being able to identify and thereby provide relevant communications, incased your roi and ends junk mail! Enable you to address the right audience at the right time (hopefully)
Being able to identify and thereby provide relevant communications, incased your roi and ends junk mail! Enable you to address the right audience at the right time (hopefully)
What is the importance of coordinating investments within and outside your 401k retirement plan?
Can you describe a situation where this would be important. Thank you for your help with understanding this kind of retirement plan.
I don't know your age, but eventually you may want to include bonds in your asset allocation. The type of bonds you buy (or bond mutual funds) depends on the tax status of the investment vehicle. Treasury strips (zero coupon bonds) and inflation-protected bonds are easier to handle (tax wise) in a tax deferred account - it makes your tax situation easier; and junk bonds so you defer tax on the high yield. Municipal bonds should be in a taxable account (since they are not taxable). If you put a muni in an IRA you convert tax free income into taxable income - bad move.
Stocks held long term should be in a taxable account so that you control the capital gains timing and get a lower tax rate for the capital gain. A $10k capital gain in a 401k is taxed as ordinary income when distributed, which is OK if you're in a much lower tax bracket after retirement (that was true in the past, but may not be in the future). In a taxable account pick mutual funds that are tax efficient, like index funds; put the fast trading mutual funds in an IRA to shelter the short term gains that trading generates.
Robert and Luigi gave the main reasons.
One, you have to look at your investments and risk profile in total. That includes ALL your debts and income too, in order to make a real financial plan. So that is not just 'investments". For instance if your house is paid off or you have a high income you can stand more risk and invest more in stocks.
And then there is the tax aspect. Buy and Hold stocks with unrealized capital gains is a type of tax deferral but with after tax money. So you want those outside your tax deferred plan while the part, like bonds, high income funds or high dividend stocks, you want in the plan so you don't pay taxes on the income.
Then last this also depends on your income tax bracket at the current time. Sometimes if your bracket is real low while young and starting out you might want to pay more taxes now than later when you are in a higher bracket as most people are as they age.
Good Luck.
The most important factor in your investment plan is asset allocation. It is very important to view and allocate as a whole. I cannot think of a situation where it would NOT be important.
Your 401k and your investments outside your 401k are probably managed by different brokers. Therefore you need to coordinate the accounts so that your overall investment strategy matches your desires.
I don't know your age, but eventually you may want to include bonds in your asset allocation. The type of bonds you buy (or bond mutual funds) depends on the tax status of the investment vehicle. Treasury strips (zero coupon bonds) and inflation-protected bonds are easier to handle (tax wise) in a tax deferred account - it makes your tax situation easier; and junk bonds so you defer tax on the high yield. Municipal bonds should be in a taxable account (since they are not taxable). If you put a muni in an IRA you convert tax free income into taxable income - bad move.
Stocks held long term should be in a taxable account so that you control the capital gains timing and get a lower tax rate for the capital gain. A $10k capital gain in a 401k is taxed as ordinary income when distributed, which is OK if you're in a much lower tax bracket after retirement (that was true in the past, but may not be in the future). In a taxable account pick mutual funds that are tax efficient, like index funds; put the fast trading mutual funds in an IRA to shelter the short term gains that trading generates.
Robert and Luigi gave the main reasons.
One, you have to look at your investments and risk profile in total. That includes ALL your debts and income too, in order to make a real financial plan. So that is not just 'investments". For instance if your house is paid off or you have a high income you can stand more risk and invest more in stocks.
And then there is the tax aspect. Buy and Hold stocks with unrealized capital gains is a type of tax deferral but with after tax money. So you want those outside your tax deferred plan while the part, like bonds, high income funds or high dividend stocks, you want in the plan so you don't pay taxes on the income.
Then last this also depends on your income tax bracket at the current time. Sometimes if your bracket is real low while young and starting out you might want to pay more taxes now than later when you are in a higher bracket as most people are as they age.
Good Luck.
The most important factor in your investment plan is asset allocation. It is very important to view and allocate as a whole. I cannot think of a situation where it would NOT be important.
Your 401k and your investments outside your 401k are probably managed by different brokers. Therefore you need to coordinate the accounts so that your overall investment strategy matches your desires.
Should I ask why they didn
I just worked for a very prestigious school and was laid off do to budget cuts. I did phone interview with another good school after I was laid off. I just got a letter stating they hired someone else and thanked me, yada yada yada.
Should I email them and ask where I fell short? Or should I just leave it alone? I don't want to come across as pathetic.
Leave it alone.
This is where using a head hunter is valuable--then they can call and ask what the other guy had that you didn't.
Unfortunately, in these times a) they won't tell you lest you sue and b) it could be a coin toss between you and the other guy.
Should I email them and ask where I fell short? Or should I just leave it alone? I don't want to come across as pathetic.
Leave it alone.
This is where using a head hunter is valuable--then they can call and ask what the other guy had that you didn't.
Unfortunately, in these times a) they won't tell you lest you sue and b) it could be a coin toss between you and the other guy.
I don
can i order things with money orders???
I want to buy clothes that they don't sell in the store but only online and i don't have a credit card can i use money order. Or does pre paid visa cards work online?
thankss
best bet is to get a prepaid gift card with with visa logo -- the money order is not all that safe and most places will not take them!! just remember with a pre paid card you will have to call the number on the back and get it registered!!!
Do you have a debit card? You can use that like a credit card.
Some companies will allow you to purchase merchandise with a money order. The minus with that is it takes a much longer time to receive a refund if you ever need one.
Still call the company and advise them you wish to use a m/o they will tell you if they accept it and then give you the info to proceed.
Pre Paid Visa Cards work. I just used one the other day for a shirt that i just received. I recommend using that :]
I want to buy clothes that they don't sell in the store but only online and i don't have a credit card can i use money order. Or does pre paid visa cards work online?
thankss
best bet is to get a prepaid gift card with with visa logo -- the money order is not all that safe and most places will not take them!! just remember with a pre paid card you will have to call the number on the back and get it registered!!!
Do you have a debit card? You can use that like a credit card.
Some companies will allow you to purchase merchandise with a money order. The minus with that is it takes a much longer time to receive a refund if you ever need one.
Still call the company and advise them you wish to use a m/o they will tell you if they accept it and then give you the info to proceed.
Pre Paid Visa Cards work. I just used one the other day for a shirt that i just received. I recommend using that :]
Advice, having been unemployed for over a year now?
I'm asking for some real advise here, not sympathy.
I was working for a carpenter and loved it.
I got laid off, and started working "under the table" for a different carpenter. And now that's gone too.
Ive been denied unemployment benefits, and the worker retraining which I would like to take is in a declining industry, so I can't get funding for it.
So now I have a gap in my employment history spanning more than one year, and I obviously need to get a real job.
But how do I dig myself out of this hole?
oftentimes, the best place to start is with one of the temp services where you can build some history and also, have the luxury of saying you are currently working.
look to everyone for help. mention to everyone you meet wherever you go that you are looking and would appreciate news of any openings anywhere.
make a good effort everyday to look for work.
p/u your local yellow pages and call every company you could ever imagine yourself working for, telling them you are specifically interested in working for their company due to reputation, proximity to home, etc.
good luck. you can do it.
I was working for a carpenter and loved it.
I got laid off, and started working "under the table" for a different carpenter. And now that's gone too.
Ive been denied unemployment benefits, and the worker retraining which I would like to take is in a declining industry, so I can't get funding for it.
So now I have a gap in my employment history spanning more than one year, and I obviously need to get a real job.
But how do I dig myself out of this hole?
oftentimes, the best place to start is with one of the temp services where you can build some history and also, have the luxury of saying you are currently working.
look to everyone for help. mention to everyone you meet wherever you go that you are looking and would appreciate news of any openings anywhere.
make a good effort everyday to look for work.
p/u your local yellow pages and call every company you could ever imagine yourself working for, telling them you are specifically interested in working for their company due to reputation, proximity to home, etc.
good luck. you can do it.
Can i break the lease if the landlord has not paid the mortgage and has not paid in 3 months come April?
we signed a 2 year lease ( rent to own) and the landlord has not paid mortgage for February and march and now i am afraid that the house may get foreclosed on. i went over our lease and the landlord did not even sign the lease at all but we did. can we break the lease because of the two reasons
that should have been ur first sign, but cut and run, i read a story of a lady doing a rent to own program, had given this shady landlord 40,000 and went home to find locks on her door, the landlord pocketed her 40,000 and didnt pay his mortgage, that is the plight of a lot of renters, i find myself in the same situation where my landlord not only spent my security deposit and i still havent moved but she hasnt been paying her mortgage or HOA.
If the landlord didn't sign the lease, you don't have a contract. Give him 30 days notice and get out if you want.
Otherwise though, whether he pays his mortgage or not is basically not part of your lease/contract. So it's not a valid reason to break a lease, which you don't appear to have anyway.
You do not have a contract, there is no "to own" without a signed contract.
You only have to give him a 30 day notice and you may go.
that should have been ur first sign, but cut and run, i read a story of a lady doing a rent to own program, had given this shady landlord 40,000 and went home to find locks on her door, the landlord pocketed her 40,000 and didnt pay his mortgage, that is the plight of a lot of renters, i find myself in the same situation where my landlord not only spent my security deposit and i still havent moved but she hasnt been paying her mortgage or HOA.
If the landlord didn't sign the lease, you don't have a contract. Give him 30 days notice and get out if you want.
Otherwise though, whether he pays his mortgage or not is basically not part of your lease/contract. So it's not a valid reason to break a lease, which you don't appear to have anyway.
You do not have a contract, there is no "to own" without a signed contract.
You only have to give him a 30 day notice and you may go.
Anyone who is a welder....?
I am taking welding this spring at college and just wanting to see if anyone who is a welder can give me some advice about getting into this field. How do I become the best at this profession? What are the ups and downs? Is this a good field to get into for the future? I am an older guy getting into it, does that matter? Thanks!
I went to school for welding amongst other things. to get good at it just do it. No matter how precise the plans are you will have to wing it. Jobs rise and fall with the economy but everybody wants to sit at a computer so you still should find a job. There will always be a demand for small scale one of a kind stuff or smaller manufacturing that would be difficult to do overseas. The downside is fumes and sparks and safety. The upside is there is good paying jobs. I wish I learned it out of high school as most of college is worthless bs. As for an older person you will bring life experience that someone out of HS does not have. Good luck as this was one of the better learning experiences.
well your learning a trade so you will keep that with you forever. Im not a welder but my dad is, has his own business doesnt make much money tho
I went to school for welding amongst other things. to get good at it just do it. No matter how precise the plans are you will have to wing it. Jobs rise and fall with the economy but everybody wants to sit at a computer so you still should find a job. There will always be a demand for small scale one of a kind stuff or smaller manufacturing that would be difficult to do overseas. The downside is fumes and sparks and safety. The upside is there is good paying jobs. I wish I learned it out of high school as most of college is worthless bs. As for an older person you will bring life experience that someone out of HS does not have. Good luck as this was one of the better learning experiences.
well your learning a trade so you will keep that with you forever. Im not a welder but my dad is, has his own business doesnt make much money tho
What is the SYSTEM of checks and balances sum ed up?
Definition - check - a restriction on an individual or group's power.
System of checks and balances - No individual has enough power to royally screw up the whole government if he got corrupted.
System of checks and balances - No individual has enough power to royally screw up the whole government if he got corrupted.
My son thought he was living the american dream. I think he is living in a nightmare.?
So, 6 years ago my son got married. Both have descent full time jobs + 1 part time job. 4 years ago they decided to buy a house and worked with his %26quot;good buddy%26quot; a broker to obtain a loan. They had $10,000 for a down payment. I want to say the house they bought was about $180,000
after all was said and done we went out to celebrate their new home and my husband asked about their rate (or something) they proudly explained that they got 2 loans. the first was for $30,000 at 7% for the down payment (added to their $10,000) and then another place financed the rest at 6% . my husband and I just sort of looked at each other already feeling like OH-OH?????
We thought their were programs out there for first time home buyers. It sounded like the good buddy steered them away from those as well as fha. Now I could be wrong but am I????
Here is the thing. these 2 loans are killing them, recently wells fargo (not their lenders) called them and got them all excited about refinance. In the end they were told with the 2 loans and now that their home is worth less then what they owe. they are pretty much screwed. They still are able to pay all their bills but i worry for how long. they are struggling. they have also maxed out 2 credit cards to cover an emergency medical expense that came up. So I was wondering if anyone had any suggestions? with all this help out there I would think there would be a way to combine the 2 mortgages at a lower rate. Or is wells fargo right and they are screwed
Although hindsight is always 20-20, at the time and given the economy, your son%26#039;s broker did not necessarily direct him wrong. Assuming that your son got an FHA loan, he would have put down say 3% - about $5,400 leaving a mortgage balance of $184,500 and the rate would have been probably 6.25% (FHA rates tend to be a bit higher) and he would have also had to pay PMI because of his equity being less than 20%. Based on all that, his monthly payments probably would have been about the same as they are now or slightly higher. Since the price of the house still would have dropped, he would have still been underwater and struggling.
What he did was a then-typical 80-15-5, with a first mortgage at 80% (eliminating the PMI), the second at 15% and of course his down payment. Had the market kept going up, he would have eventually been able to combine the two at the lower interest rate and still avoided the PMI. Meanwhile, he would have been getting about the same tax deduction as in the FHA loan but avoiding the PMI. A win-win situation.
Unluckily for him, he had two pieces of misfortune - the real estate market crash and a medical crisis. The FHA loan would not have saved him from either of these.
Further unluckily, on a conventional re-finance, yes, you son is screwed until he can get the balance on the mortgages down below the appraised value (above water). However, what he might want to do is call his first mortgage holder and see if they are participating in the new mortgage financing act and then see if perhaps he can qualify for a modification. If he does qualify, it might help ease the burden somewhat.
ouch. I would say review their budget and cut out unnecessary expences. Teach them to make food, not take-out, and reevaluate clothes. If you help them create a workable budget they should be able to pay off the credit cards. Also, if they have good jobs they might want to cancel their 401k contributions for awhile until the credit cards are paid off.
even with one loan, their house would probably still be worth less than the loan balance
The reason they got 2 loans is because they didn%26#039;t have 20% down and were trying to avoid the mortgage insurance you have to get when you don%26#039;t have a 20% down payment. So each loan is for less than 80% of the price so they didn%26#039;t have to get the insurance for either loan.
They should suck it up, refinance to ONE fixed-rate loan (5-6%), resign themselves to the fact that they%26#039;re going to have to have mortgage insurance for about the first 10 years, and work with that ONE loan. Good luck...sounds like their broker %26quot;buddy%26quot; thought he was doing them a favor but really he didn%26#039;t do them a favor at all. Two loans at once are hard to handle for anyone.
I can only answer part of your question. You%26#039;re right that brokers want their cut quickly and don%26#039;t always provide all the information that%26#039;s necessary to know especially when they find someone who has a downpayment (or even partial downpayment, 20% down is required) they get dollar signs in their eyes. It%26#039;s not that they fib, it%26#039;s just that they omit info. Without prior information in hand and with the will to move upward and get immediate satisfaction (because who knows they may not get this chance again or anytime soon) young people plunge into the loans that are available, and yes many new buyers have 2 loans. And yes, in this economy most homes and nearly all the homes in certain areas have decreased in price so people %26quot;are%26quot; losing out and are paying for what they don%26#039;t have anymore. Yes there are places where the loan can be redone, but remember that there are also unscrupulous people out there, and that every time you re-do a mortgage (like to get around a balloon payment or payments) you have to pay upfront for the loans to be redone. Do they have the money to do that? To get out from under something like this people are doing a %26quot;quick sale%26quot; and taking the loss, a hit to their credit report, and possibly into bankruptcy, and that%26#039;s a real hit to the ego and belief in the system as well as to the job/career future. So I can see where they would want to try to keep this going as far as they can by keeping the house and struggling. I remember when my parents bought their home, their parents paid for the lots and they had the house constructed by a contractor of their choice who would listen to their ideas for a dream home. Then they had renters who helped pay off the mortgage. These days kids think they can pay for the thing themselves and not have renters, and the parents don%26#039;t help out like they used to. When it%26#039;s said that young people buy homes and they aren%26#039;t prepared to do so, well it seems these were as nearly as they could be prepared to buy a home but the world%26#039;s economy stepped in and is messing with their plans. These young people know that if they hang in there things %26quot;will%26quot; get better, jobs will come back and then they will own their home. This is called %26quot;faith%26quot; or %26quot;hope%26quot;.
%0D%0A
after all was said and done we went out to celebrate their new home and my husband asked about their rate (or something) they proudly explained that they got 2 loans. the first was for $30,000 at 7% for the down payment (added to their $10,000) and then another place financed the rest at 6% . my husband and I just sort of looked at each other already feeling like OH-OH?????
We thought their were programs out there for first time home buyers. It sounded like the good buddy steered them away from those as well as fha. Now I could be wrong but am I????
Here is the thing. these 2 loans are killing them, recently wells fargo (not their lenders) called them and got them all excited about refinance. In the end they were told with the 2 loans and now that their home is worth less then what they owe. they are pretty much screwed. They still are able to pay all their bills but i worry for how long. they are struggling. they have also maxed out 2 credit cards to cover an emergency medical expense that came up. So I was wondering if anyone had any suggestions? with all this help out there I would think there would be a way to combine the 2 mortgages at a lower rate. Or is wells fargo right and they are screwed
Although hindsight is always 20-20, at the time and given the economy, your son%26#039;s broker did not necessarily direct him wrong. Assuming that your son got an FHA loan, he would have put down say 3% - about $5,400 leaving a mortgage balance of $184,500 and the rate would have been probably 6.25% (FHA rates tend to be a bit higher) and he would have also had to pay PMI because of his equity being less than 20%. Based on all that, his monthly payments probably would have been about the same as they are now or slightly higher. Since the price of the house still would have dropped, he would have still been underwater and struggling.
What he did was a then-typical 80-15-5, with a first mortgage at 80% (eliminating the PMI), the second at 15% and of course his down payment. Had the market kept going up, he would have eventually been able to combine the two at the lower interest rate and still avoided the PMI. Meanwhile, he would have been getting about the same tax deduction as in the FHA loan but avoiding the PMI. A win-win situation.
Unluckily for him, he had two pieces of misfortune - the real estate market crash and a medical crisis. The FHA loan would not have saved him from either of these.
Further unluckily, on a conventional re-finance, yes, you son is screwed until he can get the balance on the mortgages down below the appraised value (above water). However, what he might want to do is call his first mortgage holder and see if they are participating in the new mortgage financing act and then see if perhaps he can qualify for a modification. If he does qualify, it might help ease the burden somewhat.
ouch. I would say review their budget and cut out unnecessary expences. Teach them to make food, not take-out, and reevaluate clothes. If you help them create a workable budget they should be able to pay off the credit cards. Also, if they have good jobs they might want to cancel their 401k contributions for awhile until the credit cards are paid off.
even with one loan, their house would probably still be worth less than the loan balance
The reason they got 2 loans is because they didn%26#039;t have 20% down and were trying to avoid the mortgage insurance you have to get when you don%26#039;t have a 20% down payment. So each loan is for less than 80% of the price so they didn%26#039;t have to get the insurance for either loan.
They should suck it up, refinance to ONE fixed-rate loan (5-6%), resign themselves to the fact that they%26#039;re going to have to have mortgage insurance for about the first 10 years, and work with that ONE loan. Good luck...sounds like their broker %26quot;buddy%26quot; thought he was doing them a favor but really he didn%26#039;t do them a favor at all. Two loans at once are hard to handle for anyone.
I can only answer part of your question. You%26#039;re right that brokers want their cut quickly and don%26#039;t always provide all the information that%26#039;s necessary to know especially when they find someone who has a downpayment (or even partial downpayment, 20% down is required) they get dollar signs in their eyes. It%26#039;s not that they fib, it%26#039;s just that they omit info. Without prior information in hand and with the will to move upward and get immediate satisfaction (because who knows they may not get this chance again or anytime soon) young people plunge into the loans that are available, and yes many new buyers have 2 loans. And yes, in this economy most homes and nearly all the homes in certain areas have decreased in price so people %26quot;are%26quot; losing out and are paying for what they don%26#039;t have anymore. Yes there are places where the loan can be redone, but remember that there are also unscrupulous people out there, and that every time you re-do a mortgage (like to get around a balloon payment or payments) you have to pay upfront for the loans to be redone. Do they have the money to do that? To get out from under something like this people are doing a %26quot;quick sale%26quot; and taking the loss, a hit to their credit report, and possibly into bankruptcy, and that%26#039;s a real hit to the ego and belief in the system as well as to the job/career future. So I can see where they would want to try to keep this going as far as they can by keeping the house and struggling. I remember when my parents bought their home, their parents paid for the lots and they had the house constructed by a contractor of their choice who would listen to their ideas for a dream home. Then they had renters who helped pay off the mortgage. These days kids think they can pay for the thing themselves and not have renters, and the parents don%26#039;t help out like they used to. When it%26#039;s said that young people buy homes and they aren%26#039;t prepared to do so, well it seems these were as nearly as they could be prepared to buy a home but the world%26#039;s economy stepped in and is messing with their plans. These young people know that if they hang in there things %26quot;will%26quot; get better, jobs will come back and then they will own their home. This is called %26quot;faith%26quot; or %26quot;hope%26quot;.
%0D%0A
Cash offer or fixes on a house selling/buying?
We are in a situation to sell our house. After inspection, the buyers came back with a list of fixes, several fixes are big items like could be around thousand. Which is the better approach to settle this...cash offer at closing after an estimation, or proceed with fixing? Closing date on the contract is 30 days away from now.
We're in a similar position where we know there are major repairs that will need to be done to the house. Either list your house for a lower price and sell it as is or offer to take the cost of the repairs off the listing price. The problem with fixing the problems is that they can still get out of buying the house if the fix is not up to there standards. In my opinion it's safer to just take some money off the selling price and let them worry about fixing it themselves.
edit: Give them back a counter offer stating that you are not willing to do the repairs needed, but that you will reduce the cost of the house to reflect the price of the repairs. Doing the repairs for them runs the risk of them not being happy with the quality or with finding further problems. Most people will be just as happy to have the price of the house reduced, they can still get the loan for the same amount and just put that money towards the repair costs themselves. I would refuse to sell to them if they are unwilling to take this arrangement.
Money off the price of the home, you never know when one fix will lead to another. What seems to be a simple repair sometimes can turn into something else. There could be legal issues about paying cash to each other at closing.
Another problem could be; What if they don't close, something goes wrong with the loan and the deal falls apart. You just spent the money on fixes they wanted buy they can't buy the home. What if they aren't happy with the fixes? Your next potential buyer will probably still come up with more fixes.
Discounting the price is the simplest way.
Lower the price of the house.
We're in a similar position where we know there are major repairs that will need to be done to the house. Either list your house for a lower price and sell it as is or offer to take the cost of the repairs off the listing price. The problem with fixing the problems is that they can still get out of buying the house if the fix is not up to there standards. In my opinion it's safer to just take some money off the selling price and let them worry about fixing it themselves.
edit: Give them back a counter offer stating that you are not willing to do the repairs needed, but that you will reduce the cost of the house to reflect the price of the repairs. Doing the repairs for them runs the risk of them not being happy with the quality or with finding further problems. Most people will be just as happy to have the price of the house reduced, they can still get the loan for the same amount and just put that money towards the repair costs themselves. I would refuse to sell to them if they are unwilling to take this arrangement.
Money off the price of the home, you never know when one fix will lead to another. What seems to be a simple repair sometimes can turn into something else. There could be legal issues about paying cash to each other at closing.
Another problem could be; What if they don't close, something goes wrong with the loan and the deal falls apart. You just spent the money on fixes they wanted buy they can't buy the home. What if they aren't happy with the fixes? Your next potential buyer will probably still come up with more fixes.
Discounting the price is the simplest way.
Lower the price of the house.
Loan help please... please... please... (10points) asap... as many as possible?
I am 19 years old. My credit is small; I have 2 credit cards, and that%26#039;s about it and sometimes i miss payments, so not sure if my credit is good or not.
Anyway, I need a $3000 loan, WITHOUT a cosigner! I want to know who would give me one, and i am not too concerned about the APR % or whatnot%26#039;s...
can anyone help me please,
thank you so much
You should start with your own bank (assuming you have one). They know you as a customer and they know you%26#039;re reliable (hopefully). A bank that doesn%26#039;t work with you already will be much less likely to lend to you. If you%26#039;re not a member of a bank, join one and open a savings account with $20 or something. Then immediately file for a loan. They might help you out. Good luck!
If you already missing payments, that means your score is low. So, that means when you apply for a loan, and lenders sees that you have missed payments on your credit report, you will have to get a co-signer or put up collateral (car, house, etc).
You probably have a low credit score, and will not be approved for a loan.
wow i dont know any thing abut that sowie
%0D%0A
Anyway, I need a $3000 loan, WITHOUT a cosigner! I want to know who would give me one, and i am not too concerned about the APR % or whatnot%26#039;s...
can anyone help me please,
thank you so much
You should start with your own bank (assuming you have one). They know you as a customer and they know you%26#039;re reliable (hopefully). A bank that doesn%26#039;t work with you already will be much less likely to lend to you. If you%26#039;re not a member of a bank, join one and open a savings account with $20 or something. Then immediately file for a loan. They might help you out. Good luck!
If you already missing payments, that means your score is low. So, that means when you apply for a loan, and lenders sees that you have missed payments on your credit report, you will have to get a co-signer or put up collateral (car, house, etc).
You probably have a low credit score, and will not be approved for a loan.
wow i dont know any thing abut that sowie
%0D%0A
Would a package shipped with fedex 2-day Air from California arrive today to Northeatstern Colorado?
I figure since california is on the coast, and I live not even in the middle of the country, it might get here today, and if I lived somewhere like florida, it might take two days. I live just a few states away from california. Anyone had an experience, please elaborate.
You said that it was fedex 2 day. So that means that it would take 2 days. If you have the tracking number you can go online to fedex.com and find out where it at and when it is scheduled to be delivered.
You said that it was fedex 2 day. So that means that it would take 2 days. If you have the tracking number you can go online to fedex.com and find out where it at and when it is scheduled to be delivered.
Is it worth saving up money but having to suffer boredom all of the time?
If i save money which i need to then is it wth having to suffere being bored all of the time to be able to have lots of money at a later date?
Oh Paul! what a great question! I've always saved my money and you know saving money is the best thing in the world and it means that you're your own woman, lol sorry! man in your case I was thinking of me there but ummm yeah, there's so much you can do without having to spend money, just look around, museams, parks, you can even get free meals and cinema tickets if you look really hard and if you need a date for the cinema... give me a call ;) xxxx
Listen Saving is important but you only get one life so find a balance between the 2 because if you are saving all the time and when your life is over, you better believe someone else will spend your money that you worked hard for so I say that you should find a balance spend a little and save at the same time, It can be done because I do it anyway You pay strangers first all the time(bill companies)so pay yourself also anyway Take Care and God Bless
It's certainly worth saving as much as you can for the future. If you are bored, then you are not busy enough!!! Find more to do in your spare time That could be a savings opportunity too, or just a chance to do things you enjoy. That's your boredom problem solved !!
Doing things in extreme are almost always bad.
My suggestion to you is to build up your reserve cash quickly. Sacrifice what you must to achieve this goal. Once that is established, allocate yourself some spending cash and save the rest.
If you are disciplined, there is no reason why you can't do both.
I don't do saving money, I always think I'm going to die from some tragic accident so I spend what I have while I can. I don't earn enough to save anyway and I blew every penny I had any some I didn't have on starting up my business.
So, stuff it, I say. Enjoy life while you can
its always good to save money rather than spend it all and be broke!
these days we are in a crunch and its hard to save but you can it seems, so save all you can.
more difficult times are coming, so beware and better to save than be sorry!
YES! That is a great plan, however, it doesn't have to be boring...if you don't want to find a fun job (or you can't) try saving a little at a time. There is no need to be in a rush if YOU aren't in a rush.
Find things to do to entertain yourself that don't cost money. Hang out with friends in the park. Read books from the library. Take up jogging.
Saving money was the best thing I did, I was able to put down a deposit on a house and get a mortgage on my own.
it is 100 percent worth it. i did and now during these hard times i dont get stressed about all the bad things going on around me.
I think finding a good balance between the two is best
Oh Paul! what a great question! I've always saved my money and you know saving money is the best thing in the world and it means that you're your own woman, lol sorry! man in your case I was thinking of me there but ummm yeah, there's so much you can do without having to spend money, just look around, museams, parks, you can even get free meals and cinema tickets if you look really hard and if you need a date for the cinema... give me a call ;) xxxx
Listen Saving is important but you only get one life so find a balance between the 2 because if you are saving all the time and when your life is over, you better believe someone else will spend your money that you worked hard for so I say that you should find a balance spend a little and save at the same time, It can be done because I do it anyway You pay strangers first all the time(bill companies)so pay yourself also anyway Take Care and God Bless
It's certainly worth saving as much as you can for the future. If you are bored, then you are not busy enough!!! Find more to do in your spare time That could be a savings opportunity too, or just a chance to do things you enjoy. That's your boredom problem solved !!
Doing things in extreme are almost always bad.
My suggestion to you is to build up your reserve cash quickly. Sacrifice what you must to achieve this goal. Once that is established, allocate yourself some spending cash and save the rest.
If you are disciplined, there is no reason why you can't do both.
I don't do saving money, I always think I'm going to die from some tragic accident so I spend what I have while I can. I don't earn enough to save anyway and I blew every penny I had any some I didn't have on starting up my business.
So, stuff it, I say. Enjoy life while you can
its always good to save money rather than spend it all and be broke!
these days we are in a crunch and its hard to save but you can it seems, so save all you can.
more difficult times are coming, so beware and better to save than be sorry!
YES! That is a great plan, however, it doesn't have to be boring...if you don't want to find a fun job (or you can't) try saving a little at a time. There is no need to be in a rush if YOU aren't in a rush.
Find things to do to entertain yourself that don't cost money. Hang out with friends in the park. Read books from the library. Take up jogging.
Saving money was the best thing I did, I was able to put down a deposit on a house and get a mortgage on my own.
it is 100 percent worth it. i did and now during these hard times i dont get stressed about all the bad things going on around me.
I think finding a good balance between the two is best
What
I'm looking for something to invest my money in, Not talking Stocks of anything confusing like that. I'm only 14, i have $225.
Any Ideas
buy a cd. super safe, no fee's, etc.
You can't go wrong with that. your ROI (return on investment) is much lower than stocks, but you are 14.
Citi stock
Any Ideas
buy a cd. super safe, no fee's, etc.
You can't go wrong with that. your ROI (return on investment) is much lower than stocks, but you are 14.
Citi stock
First home owners tax credit?
I'm buying my first home and want and need the tax credit but I'm buying my parent's house and tax man said I can't get a tax credit cause I'm buying from family member. Any ideas?
Buying from your parents is considered related-party transaction so the IRS won't allow you to take the First-Time Homebuyer Tax Credit even if you pay fair market value for the house. If you want the credit, buy a house from a non-relative.
Yeah, I have 2 ideas:
1. Buy a different house instead. OR
2. Give up on the tax credit because you don't qualify. (sorry, but the laws on this are black and white, you don't get the credit if you buy from family. there are no loopholes.)
None. Buying from your parents doesn't qualify.
The only alternative is to buy a different house from a non-relative.
You are disqualified if buying from an immediate family member.
Buying from your parents is considered related-party transaction so the IRS won't allow you to take the First-Time Homebuyer Tax Credit even if you pay fair market value for the house. If you want the credit, buy a house from a non-relative.
Yeah, I have 2 ideas:
1. Buy a different house instead. OR
2. Give up on the tax credit because you don't qualify. (sorry, but the laws on this are black and white, you don't get the credit if you buy from family. there are no loopholes.)
None. Buying from your parents doesn't qualify.
The only alternative is to buy a different house from a non-relative.
You are disqualified if buying from an immediate family member.
Help for band slogan?
I'm making a fake band for a project for school and I need a slogan. The name is glitter dynasty..suggestions
where glam meets rock
"Glitter, Base, Music"
looking for some glitter in your dynasty
i will put glitter all over your dynasty
' we made glitter and who knows probaly you to "
so glamorous, we pee glitter
"Glitter sparke fun!"
just flip off the other team.
Glam Sound
ugh.. I hate glitter.
we are cool.
just make it a picture of a shiny crown
where glam meets rock
"Glitter, Base, Music"
looking for some glitter in your dynasty
i will put glitter all over your dynasty
' we made glitter and who knows probaly you to "
so glamorous, we pee glitter
"Glitter sparke fun!"
just flip off the other team.
Glam Sound
ugh.. I hate glitter.
we are cool.
just make it a picture of a shiny crown
I point was made the other day on a TV item. That the bankers pensions were approved by non -exec. directors?
Non-Executive Directors are appointed to look after shareholders interests and to provide a check on the activities on Executive Directors. The Exec people do not fix their own salaries or pensions the Non-exec do that as part of their duties. Should not brown and the Media be going for the throat of the non-Exec. directors of the banks who approved the pay offs
We have all been conned by the Banks and the Government.
Massive bonuses and pensions will continue to be paid out even though Brown and Obama insist it will not happen, its too little too late!
I agree.
We have all been conned by the Banks and the Government.
Massive bonuses and pensions will continue to be paid out even though Brown and Obama insist it will not happen, its too little too late!
I agree.
For tax exempltion of medical allowance should the bills be of the same year?
My employer provides me with medical allowance of Rs.15000per year which I can claim by submitting bills.
As per the income tax regulations, for tax exemption of medical reimbursement, is it necessary that the medical expenses should be incurred in the same year? Can I submit bill of expenses incurred in the previous years and claim it as tax free in the current year?
How can you claim last years medical bill this year. The bill must be the same year in which year you are claiming the medical allowance. It is very simple.
Yes, Usually Financial year starts from April to March. You can claim medical exception of maximum Rs 15,000 per year. So bill date must lie in respective financial year
yes, compulsorily as per section 10(14) of the IT Act
Yes, it must be of the same financial year.
April 2008 to March 2009 for this year
As per the income tax regulations, for tax exemption of medical reimbursement, is it necessary that the medical expenses should be incurred in the same year? Can I submit bill of expenses incurred in the previous years and claim it as tax free in the current year?
How can you claim last years medical bill this year. The bill must be the same year in which year you are claiming the medical allowance. It is very simple.
Yes, Usually Financial year starts from April to March. You can claim medical exception of maximum Rs 15,000 per year. So bill date must lie in respective financial year
yes, compulsorily as per section 10(14) of the IT Act
Yes, it must be of the same financial year.
April 2008 to March 2009 for this year
I have an interview today and I need some tips, What shall I tell them the reason behind it?
1- I got an offer first time from this company - it was the same as my salary.
2- I declined as I am committed to my company.
3- They reconsidered my offer again and raise it and raise the position.
4- Again I declined as I claimed that I am committed till June
5- Now I called them to send me the official offer (updated one)
6- They called me to interview their CEO! which I am worry about!
6- What shall I tell them the reason behind it?
The reason behind what? Why you called them to send you the official updated job offer? You know the answer to that question, don't you?
1 - You're going use it to ask your current job for a raise.
2- Your commitment is almost up and you want them to know you are still interested.
3 - You're no longer working for your old company.
2- I declined as I am committed to my company.
3- They reconsidered my offer again and raise it and raise the position.
4- Again I declined as I claimed that I am committed till June
5- Now I called them to send me the official offer (updated one)
6- They called me to interview their CEO! which I am worry about!
6- What shall I tell them the reason behind it?
The reason behind what? Why you called them to send you the official updated job offer? You know the answer to that question, don't you?
1 - You're going use it to ask your current job for a raise.
2- Your commitment is almost up and you want them to know you are still interested.
3 - You're no longer working for your old company.
Has anyone in Canada bought a money order lately?
If so, was your name printed on it or can I buy one and stay anonymous to the person I send it to?
I know I probably will have to sign it but I can make my signature illegible.
I bought one from the bank and you have to fill in who it is to and your signature. Your name is not printed on it, only the amount. Some money orders cost between 4.99 and 6.99 to buy. If your bank offers free money orders when you get your account, which mine does, that's a bonus.
hope that helps
have you tried western union?as long as the receiving address is correct
what you put down as the giver can be anything as long as you pay cash
no one knows.
I know I probably will have to sign it but I can make my signature illegible.
I bought one from the bank and you have to fill in who it is to and your signature. Your name is not printed on it, only the amount. Some money orders cost between 4.99 and 6.99 to buy. If your bank offers free money orders when you get your account, which mine does, that's a bonus.
hope that helps
have you tried western union?as long as the receiving address is correct
what you put down as the giver can be anything as long as you pay cash
no one knows.
Can I have my name put on my partners morgage?
I pay half the morgage now anyway, but I have no rights to the house. How do I go about putting my name on his morgage? Can this be done?
There are two things that you may wish to consider. Neither of these involve simply putting a name on the mortgage, which is not really possible by itself.
The first, and best, option is to ensure that all the title deeds, as well as the mortgage, are in joint names and registered as such. That way, you are fully protected to the maximum that the law allows. You are, at the same time, fully liable for any problems that arise.
The second option is for you to become a mortgagee yourself, and hold a second charge over the property to the extent of your contributions. This does not give as much protection and is much messier to set up, but is legally possible.
Any option would require your partner's consent. And legal advice, for both of you, is an absolute must.
If you decide to go ahead, do not attempt to try to do it yourselves. This is a potentially messy one, and involving a solicitor is an absolute must.
There are two things that you may wish to consider. Neither of these involve simply putting a name on the mortgage, which is not really possible by itself.
The first, and best, option is to ensure that all the title deeds, as well as the mortgage, are in joint names and registered as such. That way, you are fully protected to the maximum that the law allows. You are, at the same time, fully liable for any problems that arise.
The second option is for you to become a mortgagee yourself, and hold a second charge over the property to the extent of your contributions. This does not give as much protection and is much messier to set up, but is legally possible.
Any option would require your partner's consent. And legal advice, for both of you, is an absolute must.
If you decide to go ahead, do not attempt to try to do it yourselves. This is a potentially messy one, and involving a solicitor is an absolute must.
Do you think that the price of single family homes in southern california will continue to fall?
Yes, the 2nd wave of migration out of Cali back east is just beginning.. They may as well give the state back to Mexico.. Nobody wants to live there anymore. Property taxes are outrageous and the sales tax I hear will be jumping to 13% next year..
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Does it amaze you that 1 out of 7 people don
And don't ever plan to? How can people live knowing they've got no cushion in an emergency?
Being self employed has meant that for the past few years I have plowed every penny into my business, so I am one of those 7.
I suppose I'd rather invest than save; riskier, but potentially bigger rewards
I can barely live day to day let alone save right now I'm self employed and my b/f has just started a new job 2 weeks ago after a year unemployed. I have an ISA account with about 8 in it in the UK and a credit union account here with about 25 Euro in it.
When I can afford to I will save a few Euro a week if I can. I saved up enough for the deposit on my first car when I was 17 so I'm aware that its a good thing to do.
lol, it would have surprised me 10 years ago, but it doesn't now, mine is dwindling rapidly due to a husband that's not working at the moment, glad there were good times to fall back on, times are tough and getting worse daily, i will be glad when i can start putting money back in it
WOW I'm shocked....1 in 7....how do you expect to save or retire or put a down payment on a car/house or get a good credit score! Its not feasible to live paycheck to paycheck, or you will be heading into the red!
woman we have people here that don't even earn a penny, they are living off the land. I have a savings but i guess people think enjoy now cause you never know when your gonna go.
Some people cannot afford a savings account so I would have to say; no I am not amazed. There are lots of people that live pay check to pay check and after groceries and bills have no money left...
SOME PEOPLE ARE SO DEPRESSED THEY JUST DONT CARE ABOUT THE FUTURE. THEY LIVE DAY BY DAY.
save....how, with everything being so expensive..and who would trust the banks today the way they are going under...i'll stick with my mattress
I think whats happening a lot now Nikki is they are hoarding it in places that is dangerous if the house would burn down
yeah its amazing...or checking either
I don't have one but I do have a stock portfolio
They don't have money to save.
what... 1 in 7... man i hate using cash, i'm always eftpos-ing
that s wat we call poverty
Being self employed has meant that for the past few years I have plowed every penny into my business, so I am one of those 7.
I suppose I'd rather invest than save; riskier, but potentially bigger rewards
I can barely live day to day let alone save right now I'm self employed and my b/f has just started a new job 2 weeks ago after a year unemployed. I have an ISA account with about 8 in it in the UK and a credit union account here with about 25 Euro in it.
When I can afford to I will save a few Euro a week if I can. I saved up enough for the deposit on my first car when I was 17 so I'm aware that its a good thing to do.
lol, it would have surprised me 10 years ago, but it doesn't now, mine is dwindling rapidly due to a husband that's not working at the moment, glad there were good times to fall back on, times are tough and getting worse daily, i will be glad when i can start putting money back in it
WOW I'm shocked....1 in 7....how do you expect to save or retire or put a down payment on a car/house or get a good credit score! Its not feasible to live paycheck to paycheck, or you will be heading into the red!
woman we have people here that don't even earn a penny, they are living off the land. I have a savings but i guess people think enjoy now cause you never know when your gonna go.
Some people cannot afford a savings account so I would have to say; no I am not amazed. There are lots of people that live pay check to pay check and after groceries and bills have no money left...
SOME PEOPLE ARE SO DEPRESSED THEY JUST DONT CARE ABOUT THE FUTURE. THEY LIVE DAY BY DAY.
save....how, with everything being so expensive..and who would trust the banks today the way they are going under...i'll stick with my mattress
I think whats happening a lot now Nikki is they are hoarding it in places that is dangerous if the house would burn down
yeah its amazing...or checking either
I don't have one but I do have a stock portfolio
They don't have money to save.
what... 1 in 7... man i hate using cash, i'm always eftpos-ing
that s wat we call poverty
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