Tag Archive | "Home"
What Taxes Would I Have To Pay If I Run My Own Business From Home?
Does anyone know what taxes I would have to pay if I am running an internet based shop from home. Do I have to register for VAT as soon as I start to sell? How much national insurance would I have to pay? I expect to be selling items of around $25k P.A of which [...]
Continue reading...How Does The $8000 First Time Home Buyer Tax Credit Work For Someone Who Didn’t Owe Anything On Taxes?
Saturday, February 13, 2010
I am in the process of buying my first home, and I am wondering how the $8000 tax credit will help me if at all. I have never owed anything on my taxes, I have always got a refund. Someone told me that if you didn’t owe anything on your taxes that you would actually [...]
Continue reading...Is It Worth Paying More Property Taxes For A Home I Am Planning To Buy?
Thursday, February 11, 2010
I am planning to buy my first home and there are some homes which have property taxes around 3k-4.5K /year There are some newly constructed homes(2004-2005 model) and they have higher taxes of around 6k – 7K/year. 1) Is it worth buying these newly constructed homes with those higher property taxes ? 2) Any other pros & cons [...]
Continue reading...How Does The $8000 First Time Home Buyer Tax Credit Work For Someone Who Didn’t Owe Anything On Taxes?
Saturday, February 6, 2010
I am in the process of buying my first home, and I am wondering how the $8000 tax credit will help me if at all. I have never owed anything on my taxes, I have always got a refund. Someone told me that if you didn’t owe anything on your taxes that you would actually [...]
Continue reading...Do We Pay Taxes On Income From Renting Our Home Out For One Week A Year?
Sunday, January 31, 2010
We have been asked to rent out our home for the Republican National Convention in Minnesota because we have a large home within a mile of the convention location. We have been offered $15,000 for 5 days. We have never rented out our home before and I have no idea whether we need [...]
Continue reading...Taxes – I Own A Home Which Is Rented Out. How Can I Get The Biggest Tax Break?
Saturday, December 19, 2009
My mortgage is $1550 per month and taxes are $6500 per year. I rent the house out for $1375 per month at a loss every month. BUT… If I file taxes reporting the rental home as an active income generator (at a loss) I can only deduct “X” dollars for my loss (this [...]
Continue reading...What Would The Taxes Be If I Won The Saint Jude Dream Home Contest In West Virginia?
Friday, December 18, 2009
I think the value on the house is $450,000 or you can take a $200,000 cash prize instead. I believe the federal gift tax that you would have to pay is 45% of the $450,000 = $202,500 or $90,000 for the cash. My other question is how much would State taxes be? Am I [...]
Continue reading...What Taxes Do You Have To Pay When You Own A Small Home Based Business?
Sunday, November 29, 2009
I am planning on opening a small business with in the next year. I am trying to find out how my taxes will change. Is it true that i will have to pay in taxes every three months? How is this calculated? What taxes will i pay (federal, state, S.S, medicare)? what percentage of [...]
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Sunday, February 14, 2010
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