Taxes

Rosalia B: How do taxes work when selling a company? 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 … [Read more...] about How do taxes work when selling a company?

John: Is the US Government's taking of close to 25% of your paycheck taxation without representation? If the US Government (crooked career politicans) is bought and paid for by special interest, lobbyists, and corporations - is taking 25% of your paycheck taxation without representation? Answers and Views: Answer by pdoomaIf you're a DC … [Read more...] about Is the US Government’s taking of close to 25% of your paycheck taxation without representation?

dcmetrosingles: What should my wife and I claim for our taxes? I will make 88,000 this year and my wife 66,000. We have one child. We file together. What should we each claim on our taxes to minimize us owing the government? Should I claim 3 and her 0? Or should I claim 3 and she claims 1? Please help! Answers and Views: Answer by … [Read more...] about What should my wife and I claim for our taxes?

James M: What state has the lowest property taxes? After 20 years in the Military moving from state to state and country to country and after working overseas as a civilian for the last 10 years were ready to settle down and retire. We are now looking for a state to retire to that has low property taxes, not too cold of a climate, reasonably price … [Read more...] about What state has the lowest property taxes?

vicki: What is the cause for tax payable account? What might be the reasons for the tax payable account? Why don't the company pay the tax right away but have to wait for some time and pay it in the future? Deferred tax asset result from an excess of tax payable over income tax expense. Does it mean the company paid tax more than it should have … [Read more...] about What is the cause for tax payable account?

CeciGirl: will selling my house and renting be a huge tax liability? I have 3 kids and my husband and I are trying find a way for me to quit working to be a stay at home mom. The only way we see that it will be possible, is to lower our overhead by selling our huge house and downsizing. My question is, how hard will we be hit during tax time … [Read more...] about will selling my house and renting be a huge tax liability?

: How to file local taxes for working in multiple cities? I live in one city but work in a different one. The second city is actually in a different state (if that matters for local taxes). I figured out the state taxes but am confused on the local taxes. Do I have to file local taxes for the city I worked in, where I live in or both? Thank … [Read more...] about How to file local taxes for working in multiple cities?