My girlfriend and I just found out that she is due in Feb. 2010. We wanted to know if we would get a bigger tax deduction as a married couple or if we were to both stay single and file? Does the government give bigger deductions to single or married parents?
If parents lists x number of children on their tax return, how much money is deducted from their income for each child?
I’m not asking about the ,000 tax credit, child care tax credit, or how much a child can earn tax free.
What is the raw value of the tax deduction?
So my parents have given me the money to pay off all of my student loans (£14.000) and i am currently working. If i pay off the student loans now, will i still be deducted in the new Tax year (April 6)
How will the HM revenue know i have paid this money off and not start deducting from my wages.
Anyone who has paid this money off, please guide me through as i don’t want to be pay it off and only to find them deducting me in the new tax year.
I need the tax deduction more than my parents so they are willing to let me take the full deduction on my 1040.
During a child support hearing, will it be decided which parent will claim the children for tax purposes? Will the tax decision show on the child support papers?
The children come from parents who are not married and never were married. The father pays and is up-to-day with all child support payments. The mother insists on claiming the children for taxes every single year. Because of work, the father has the children 3 out of 14 days. Does he have any rights for claiming them as exemptions? If the tax deduction isn’t decided during the child support hearing, is the only way to get this straightened out is through a lawyer? At this point she is unwilling to sign Form 8332 to release her rights and share the deductions ever other year.
Can the noncustodial parent hire a lawyer to write up some kind of agreenment or take her to family court for a judge to decide if she is unwilling to negotiate?
I am a foreigner working in the US. I file the resident 1040 tax return. I support my parents abroad. Can I claim tax deduction on my tax return? If so how?
I run a lawn service out of my parents garage right now. I am making very good money and do like to claim it on my income takes as "other" or Schedule C. (its taxed @ 15%)
Recently I purchased several pieces of expensive equipment but I have not yet filed for a Tax ID # nor have I made the business an official corporation. Can I claim the purchases on my 2007 tax forms as deductions? I would like to claim full revenues and recieve a tax break from expenditures.
How would I go about this?
I run a lawn service out of my parents garage right now. I am making very good money and do like to claim it on my income takes as "other" or Schedule C. (its taxed @ 15%)
Recently I purchased several pieces of expensive equipment but I have not yet filed for a Tax ID # nor have I made the business an official corporation. Can I claim the purchases on my 2007 tax forms as deductions? I would like to claim full revenues and recieve a tax break from expenditures.
How would I go about this?
My inlaws took out a loan in there name for a house for my husband and I. WE PAY all the morgage payments,taxes, insurance, ect. They make it seem like they only get a couple hundred $ back a year (on their taxes) for this house. I was browsing some sites and they said more like 00, but I am not sure if that is correct. So can anyone give me an estimate on what they might get. The apprasal is valued at atleast 80,000 could possibly be more. We bought the house for 54,000
the intrest rate is 8.9500. Any help would be great!! Thanks
I know you are trying to help, but I wish you would read my question before you answered. My husband and I don’t want to claim the taxes on this house. We were just wondering how much his parents got.
I want to go on a volunteer program that costs about 3000 dollars. The brochure says it’s completely tax deductable, but my parents say that for them, they’re in a "higher tax bracket" and it probably wouldnt be deductable. What the "h" does that mean and is it true? Can something be deductable for one person and not for another or is this just their way of saying they dont want me going?
um, someone asked for more info, all I know is that the volunteer program is well known (Cross Cultural Solutions) and that my parents tell me to check the highest income box on all my college applications.