Taxes

: What is the meaning of allowing an expense in taxation? I am confused between deductible, not deductible and allowing and disallowing. My taxation notes say that provision for bad debts are not allowed whereas actual bad debts are allowed. I am having difficulty in understanding how accounting profits are adjusted to come up with taxable … [Read more...] about What is the meaning of allowing an expense in taxation?

emma-me: Taxes.......? I do not have taxes taken out of my paycheck because I technically work for myself. About what's the percantage that I'm going to have to pay for taxes? I get paid around 17 an hour and work about 40-45 per week, and I've had this job since June. Thanks. Answers and Views: Answer by Gregory E$ 17 per hour * 43 avg … [Read more...] about Taxes…….?

xredfalconx512: Why is the taxation done in brackets in this country? I don't understand the income taxation system, which by its implications, punish the ambitious and hardworking who are successful and wealthy to promote the welfare of the less successful, whichever the cause may be, who get taxed less. Consider the fact that the amount of the … [Read more...] about Why is the taxation done in brackets in this country?

ROBMEBLIND: THE GOVERMENT GAVE TAX CUTS TO THE AMERICAN PEOPLE.THEN FARE ON TRANSIT ,TRAINS,GAS,AIRPLAIN,AND THE POINT WAS? Answers and Views: Answer by ArnabDoomsday is coming Answer by My GrainWell at least they cut 'something'................in the UK everything's rocketed and we didn't get the annual non-taxable allowance pay go up … [Read more...] about THE GOVERMENT GAVE TAX CUTS TO THE AMERICAN PEOPLE.THEN FARE ON TRANSIT ,TRAINS,GAS,AIRPLAIN,AND THE POINT WAS?

J D: Estimated Tax - How much do I pay for estimated tax if I expect to make a lot less than the year previous? Hello, I have made quite a bit less than expected and am not sure whether or not I will owe any taxes after the standard deduction... How much should I pay for estimated tax? If I overpay in estimated tax, what happens? Answers and … [Read more...] about Estimated Tax – How much do I pay for estimated tax if I expect to make a lot less than the year previous?

Product Researcher: How do I file taxes for money I made in Idaho, if I reside in California? I am completing a 3 month internship in Idaho, but will return to California upon completion. What is the best way to file taxes? Idaho's state taxes are actually higher than Cali, so I would like to avoid them. Someone else mentioned they are just having … [Read more...] about How do I file taxes for money I made in Idaho, if I reside in California?

Caribou2: Can you itemize your state taxes on your federal tax return? I hear so much about how you won't have enough to itemize to overcome the standard deduction if you don't own a home. However, I paid almost $ 4000 in state taxes in 2006, which is close to my standard deduction of $ 5150 (single). I've heard that you can itemize state … [Read more...] about Can you itemize your state taxes on your federal tax return?