IRS Tax Relief » Work

How Much Should I Withold For Taxes When Doing Side Work? I Have A Full-time Job,side Work Will Be About $32k

admin — Tue, 16 Feb 2010 03:48:30 +0000

Each project will be approx $4000 (computer programming work). I have a full-time job and I’m going to do this work on the side during the weekends. Is there anyway to give the government their cut after each job? I hate trying to put money away to pay for taxes not knowing if it is too much or too little.
Could I setup an LLC and pay the taxes that way? Is there anyway to treat this seperate from my normal income taxes?
I’m not sure what the best way to handle this is.
Thanks.

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How Does The $8000 First Time Home Buyer Tax Credit Work For Someone Who Didn’t Owe Anything On Taxes?

admin — Sat, 13 Feb 2010 15:47:43 +0000

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 get a check for $8000 but I am very skeptical. Has anyone out there been in this situation?

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How Does The $8000 First Time Home Buyer Tax Credit Work For Someone Who Didn’t Owe Anything On Taxes?

admin — Sun, 07 Feb 2010 03:46:43 +0000

How Does The $8000 First Time Home Buyer Tax Credit Work For Someone Who Didn’t Owe Anything On Taxes? I am in the process of buying my first home,...
How Do I Deduct My Own Taxes If My Employer Is Not Deducting Them? I have asked a similar question a few times, and...
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What Taxes Can I Expect To Be Taken From My Paycheck If I Work In California?

admin — Wed, 03 Feb 2010 15:53:20 +0000

I have received my paycheck and want to make sure I was paid correctly. My check stub lists deductions but I am not sure if they are correct. How can I make sure the required taxes were taken and that the correct amount has been deducted?
The deductions listed on my check are:
FICA
FIT
State
Benefits
Local/SDI
Other Deductions

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How Do I Start Paying Taxes From Contract Work And Help With Tax Tips?

admin — Tue, 02 Feb 2010 15:50:57 +0000

I started a year ago doing 2 maintianece contract work and got about $40,000.00 in 2006 and I still had not paid taxes because I didn’t know where or how to. My contract place just gave me a 1099Form. I’m single and I recently just got a regular W-2 job. I’m in Minnesota. I am afraid I will to paid an outrages amount of taxes. And also I had not been keeping receipts for the year 2006.

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Need Some Clarification On How Taxes Work?

admin — Thu, 21 Jan 2010 16:05:32 +0000

Okay so say i made $4000 last year and my parents could claim me. So If they claimed me on their taxes, i wouldn’t be able to get my tax money back?
The reason for asking this is because id rather let them have that extra $2000 for claiming me rather me filing my taxes and only getting back like a several hundred dollars.

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How Does Paying Taxes On 1099ed Income Work?

admin — Sat, 16 Jan 2010 15:53:07 +0000

I haven’t made any taxable income for the year except for a nominal (over $600 but less than $2000) amount for which I’ve been 1099ed. Will I end up having to pay taxes on the full amount, or is it only the amount over $600? Will I have to pay taxes at all since I made under $5000 or whatever that minimum amount is?

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How Do Taxes Work If You Consult For A Business That Is Out Of State?

admin — Mon, 04 Jan 2010 15:46:40 +0000

Hello all, I am currently an independent consultant for a company based in Massachusetts. However, I do ALL of the work remotely in California. The employer did withhold anything. Do I still have to pay MA state income tax, or do I only pay California state taxes? Thanks in advance! Related posts:How Do State And Federal Income Taxes [...] Related posts:

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How Do Taxes Work For Winnings From Online Poker/gambling Sites Based Outside The Us?

admin — Wed, 30 Dec 2009 03:47:05 +0000

If you win $50,000+ from an online poker/gambling site based outside the US, is there any way to cash out the money without having to pay taxes? If not, can someone explain how taxes would work? Related posts:How Do Taxes Work If You Consult For A Business That Is Out Of State? Hello all, I [...] Related posts:

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How Do Taxes Work When Selling A Company?

admin — Mon, 28 Dec 2009 15:57:23 +0000

If i were to buy a company for 10 million financed with loans, then over time pay off the loans, and then sell the company for 10 million, do I pay taxes for the business considering it was sold for the same as purchase amount? What if i sold it for 20 million? Will only the last 10 be taxed?

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