??? Katharine ???? asked:


I want to know if this January 15th payment – does this go towards your 2007 taxes, or does this go towards my 2008 taxes?

Emily asked:


I have an LLC in California.

If I pay taxes on the first years profit, and what’s left of my profits rolls over to the next year do I have to pay taxes on them the next year also? Or is it just for the one year?

To be more clear, do I keep paying taxes on the profits from the years before or is it just each years profits are calculated that one year and only taxed that one year?
We have elected to keep it as a pass-through. We’re not filing as a corporation.

jayman1958 asked:


I was reading the IRS guide for this credit and they have a series of questions to answer if you qualify. I am good until it gets to decision 8. Decision (8). Do you have a tax liability (Form 1040, line 46 minus lines 47, 48, and 49) (Form 1040A, line 28 minus lines 29 and 30)?

I didn’t owe any taxes. So I didn’t have a tax liability? If you don’t have a tax liability it says you can’t get the credit. Why is this the case. Thanks.

GrafZeppelin asked:


How much taxes will be taken out of what I make if I’m 16. I heard it would be less than regular taxes or something…..this would be in massachusetts

e.chapman38 asked:


When my great uncial passed on, he left my mother $24,000 and her brother a farm. The lawyers are saying that is she will have to pay the taxes on the farm. This doesn’t make much since.

bopbo asked:


Lets say you finish your basement or add a bathroom, this adds value to your house. Taxes are partially based on the value of your home right? How does this work? I live in NY if that helps but in general what happens?

whoa nelly! asked:


What type of envelope should I use to mail my federal taxes? What about my state taxes? Should I use a regular size envelope or a 9×11 clasp type envelope?

Sorry for the stupid question, this is the first time I’ve filed my taxes on paper.
I just didn’t know if there was a stupid rule about not folding the forms or something.

Jay asked:


I had a friend buy a car for me in North Carolina. I’m suspicious of the amount he said he paid for the car so I want to find out how much was paid in taxes to calculate the cost of the car. Is there a state agency that I can call that would have this info?
Thanks!

sweet26 asked:


I am planning to buy a new Toyotta Corolla. I was searching for prices online – it is about $17,000 without taxes. Does anybody know how much would a tax be (for Louisiana)? This is my first car in the US.

southernguy asked:


I might be getting a job with a church on hourly wage. Is it the same as working for any other business as far as taxes go?