• I live in WA state. I just filed my Federal tax return. Do I still need to fill out STATE TAX RETURN FOR WA?
• How long do I have to file an Illinois amended individual income tax return to report a federal change?
• Issue With Irs Resulting From Tax Preparer Omitting Info?
• Should the IRS stimulant payment be divided the same as the tax return as agreed to in the divorce.?

• If you owe the IRS taxes, will they automatically apply your economic stimulus check toward that amount?
• If I owe the IRS taxes and only make a partial payment to them will I still get my full stimulus check?
• What should I do about my 2008 tax return while I’m filing for bankruptcy?
• What is next weeks deposit schedule for the Stimulus Check?

The sales tax is $44.75 on the purchase of a dining room set for $895. Find the sales tax rate. The answer of course is a percentage but I’m just not sure how to go about finding the answer. Thanks in advance.

• What is the sales tax rate on alcohol in texas?
• What state has the highest sales tax rate and how much is it?
• What is the sales tax rate for illinois right now?
• How do tax brackets work for commissioned sales people? Large commission checks affect your taxed rate?

• Nolo’s Legal Business Pro 2009 Contracts & Forms Plus Bonus Small Business Basics & WillMaker Plus 2009 Bundle
• Labor and Tax Attorney, 1949-1982; Sierra Club Foundation Trustee, 1968-1981, 1994-1998: Oral History Transcript | 1999

• How long for New York State Income Tax Return 2007?
• Securities Prices as of December 31, 1918, Compiled for and Under the Supervision of the Comptroller of the State of New York for Use in Determining the … the State Income Tax Law, Comp. And Pub.
• Free New York State Tax Filing?
• New York State Personal Income Tax Law and Regulations

can they really foreclose on the tax lien for only being 7 months late?

• Is There anyone that knows about or purchased property with only paying back taxes?
• What Is The Best Way To Foreclose On An Investment Property Without Ending With Debt & Taxes?
• What Happens If Deliquent Property Taxes Are Not Paid At Closing-2?
• What are my rights if I (seller) overpaid property taxes at closing?

• What are the steps for making a property tax reduction?
• attorney general took income tax check have had a paternity test.not my child.how do i get my money back?
• Can the irs take money out my income tax childsupport?
• What’s the tax rate on dividends from money market mutual funds?

• Does Anyone Know A Good Tax Attorney In The Portland Or Area?
• Anyone Know Of A Good Tax Attorney In San Diego, Ca Area?
• Anyone know of a good personal injury attorney in los angeles?
• Does anyone know a good website that show the Calculation of Australian Tax in detail?

Deductions: Income tax withheld 55440
Social security tax witheld 17402
Medicare tax withheld 4620
US saving boonds 10780
group insurance 17556

Here is the problem: Assuming that the payroll for the last week of the year is to bepaid on January 5 of the following fiscal year, journal the entries:
a) Dec 30 to record payroll
b)Jan 5 to record employer’s payroll taxes on the payroll to be paid on Jan 5

Here’s the thing: I know part A but Im not sure how to do part B since the given info is for Dec 30

• My ex is an attorney and paid back payroll taxes for his LLC, is this part of the property settlement?
• I have paid state taxes in more than one state this year. How do take care of the situation?
• Seniors: Would Social Security become financially solvent if everyone’s payroll taxes went up 2%?
• Oil use supports terrorism. Would you support higher gas taxes if it was returned in payroll tax cuts?

Thanks.

• What can I do to maximize my tax deductions?
• Do Pretax deductions for federal income tax also apply to medicare and social security?
• How do I calculate estimated tax taking into account the recent tax reduction?
• what are common overlooked tax deductions on a home business?

• How to record payroll and employer’s payroll taxes in this situation?
• Did anyone have quickbooks shut down payroll tax calculations in order to force you to buy a newer quickbooks?
• Do church employees have the same payroll tax requirements?
• How / when is the Treasury Dept going to notify businesses about the April 1st payroll tax reduction?

• How do I charge international sales tax on items that I sell online?
• I’m trying to open an online business but I dont know if I charge sales tax to my customers?
• Is there a sales or service tax charged for Video Production services in California?
• Setting up an online business based az – selling advice. Charge sales tax to who?what states if any?

• Is personal income tax constitutional?
• Am I right that federal tax is a personal income tax and not a business tax..??
• How are Business losses treated on my personal income tax?
• What is “tax as a share of personal income”?

If I get denied on the disability review is it best to hire an attorney? If so, will he speak for me in front of the judge?

• Why are some tax refund estimators giving me a different review?
• Miami Personal Injury Attorney, Miami Personal Injury Lawyer. Miami Car Accident Lawyer. Who is the best?
• who is the best and least expensive professional tax preparer?
• What steps do you need to take to become a civil rights lawyer/attorney?

I bring this up because I think that is sad that I live in a state where property tax is the highest and the “reform compromise is to raise sales tax and give property tax relief for one year and use the rest to balance the budget it is sad because I feel that there are very many way to balance the budget and cut state spending and not have to raise taxes. If I lived my life in the way of the state government (not having a buget and living within my means) the bill collectors would come calling and so why is there no fistcal account ability for the state?

• I’m terminated by private company in India after 5 yrs of service. What is the tax relief on compensation rcvd?
• Should I see a personal injury attorney immediately after an accident, even if I think the injury is minor?
• In the State of Georgia if a civil lawsuit is dismissed for lack of service, can a counterclaim for interplead
• If everyone paid a flat rate tax would government be in trouble with the people?

• What state has the highest sales tax rate and how much is it?
• Americans! Do you think the USA will be a Free State for much longer??
• excel calculation for income tax bracket to determine how much net a person will take home given the criteria?
• I have $14K in a 401K plan that I’m cashing out to pay off some debt. How much state tax do I apply?

• How to avoid paying state income tax?
• If I owe the state of California back taxes and am currently paying, will they intercept my federal tax return
• Can I take itemized deduction for Federal tax and take standard deduction for state tax?
• Do business expenses just help to relieve Federal tax, or is state tax included as well?

A sales tax is this type of tax because it represents a higher percentage of the income of lower income earners.
regressive tax
federal grant tax
progressive tax
proportional tax

A tax that varies with a person’s ability to pay is called
a regressive tax.
an excise tax.
a sales tax.
a progressive tax.

A contractual promise on the part of the borrower to repay a loan is a
mandate.
bond.
block grant.
lottery.

The head of the state executive branch is the
governor.
secretary of state.
lieutenant governor.
attorney general.

• Can anyone help me with this Tax Problem?
• More questions about accounting. This is the last time I am asking for help. I am just bad at quizzes?
• need help with accounting problem about payroll plz help me!!!!!!!!! thanks?
• my teacher told me to ask for help, and i dont have anyone besides you! i kept getting these 5 qeustions wrong

In CA houses are in escrow and all of the title checks and inspections take place then. How does NJ real estate law work? Are there any good online sites that showcase NJ houses with photos?

• what are common overlooked tax deductions on a home business?
• Real estate question: Why would someone buy a home, but never record the deed in their name?
• With poor credit how do I get a loan for $40,000.00 to pay property taxes on my home and pay other bills?
• Questions about purchasing tax delinquent properties in Alabama.?

I live in California state

• Can I change my state tax return to standard deduction from itemized even though I didnt change my federal?
• I received a writ of garnishment for my state tax return! Can they also take my federal tax return?
• Does a state tax refund take longer to get back than a federal?
• Will they garnish my paycheck or take my federal or state tax return for foreclosure debt on an FHA mortgage?

I’m married filing joint, two dependents, made about 25k on one income. Is 7k right?
What is Making Work Pay credit?

I’m just worried that the other sites said I’d get $0…

Oh and my husband’s job doesn’t take out taxes =[ really, they don’t, so don’t jump into asking about that lol

• Is the government really planning on not giving us or New York State refund tax checks this year?
• Can you apply refund to different year of owed IRS taxes?
• If I get denied on the disability review, is it best for me to hire a SSI lawyer/attorney?
• What are some of the services in Massachusetts that will dissapear if the income tax is eliminated?

• How do I file a late Ca state tax return?
• I have 1 bill I owe to the state and have never paid late, can they take it out of my tax return?
• In Minnesota, can you file a late state tax return and still receive a refund?
• Filing state tax return with Ohio unemployment?

• How do I get the percentage of a sales tax rate?
• What state has the highest sales tax rate and how much is it?
• What is the sales tax rate for illinois right now?
• since texas doesn’t have a state tax, how do their sales & property tax rates compare to other states?

BTW – I live in Oregon.

• Does anyone know where to get personal tax information from 2009?
• My employer has not provided my tax information. What is my course of action?
• How can I get practice tax information?
• Where and how can I view all my 2006 tax information if I filed via Turbo Tax?

• What’s the income tax reduction for making money with tax liens?
• Under Federal Source Tax Law of 1996 can I avoid paying State tax on a pension earned as a CA state employee?
• Has anyone used a property tax reduction company?
• How / when is the Treasury Dept going to notify businesses about the April 1st payroll tax reduction?

Can I go back and amend my prior year’s tax return and get a refund for the taxes I paid on my 100k income, since that income is now 0? Or do I claim a loss on the present year income, because that would be catostrophic given that I cannot recover the taxes paid.
P.S. Yes, I will talk to an accountant next week, but I just wanted some idea for now.

• Tax Return Question! Did I need to file returns for previous years even if I was unemployed in college?
• can i view my income tax return online from previous years?
• Income Tax return: filing online?
• Do I have to file a RI state tax return when I have no income from RI and I live in MA as a student?

• Car Accident Injury: Attorney or Lawyer Necessary?: Car Accident Injury Personal Injury Attorney & Accident Lawyer
• is chip forstall in new orleans a great accident and personal injury attorney?
• Should I see a personal injury attorney immediately after an accident, even if I think the injury is minor?
• Anyone know of a good auto accident personal injury attorney or chiro in Austin Texas?

By Cesar V. Conda

In the recent Democratic presidential debate, former Sen. John Edwards said he would impose taxes on the wealthy to address Social Security’s long-term funding problems, but “would create a protective zone [for people earning] between $97,000 up to around $200,000.” The Associated Press reports that Sen. Hillary Rodham Clinton said privately that she also would consider levying the Social Security tax for people making over $200,000.

The federal government currently imposes Social Security payroll taxes on the annual earnings of workers up to a cap of $97,500. Most Democrats have traditionally supported raising the payroll-tax wage-cap to address the entitlement budget crisis, instead of creating personal retirement accounts and slowing expenditure growth.

However, raising the payroll-tax cap will not solve Social Security’s long-term financial problems. Here are some very crude but directionally correct estimates of how this would work:

Were the cap to be raised from $97,500 to about $171,000, according to Social Security Administration data we’d solve about 10 percent of the long-term shortfall. (Caveat: This is not the way Sen. Clinton would measure it; she would probably rely on the discredited seventy-five-year actuarial balance measure. By that measure it would solve more than 40 percent of the problem. But for the most part that’s illusory. In the long run the annual deficits would be reduced by only about 10 percent.)

Now suppose the payroll-tax cap was eliminated entirely and applied to all earnings above $97,500. If we credited the extra contributions towards benefits we would solve about 24 percent of the problem, and if we didn’t we’d solve about 4 percent. (Again, this is using real numbers, not seventy-five-year actuarial imbalance. The latter metric allows the Democrats to claim, misleadingly, that the whole problem would be solved.)

Therefore, if raising the current payroll tax cap to $171,000 solves about 10 percent of the problem, and if eliminating it solves 24 percent, then it would seem that levying Social Security payroll taxes again on earnings above $171,000 would solve about 14 percent of the problem (24 percent minus 10 percent). Or, if we didn’t pay benefits on the extra payroll-tax contributions, we would solve about 30 percent (40 percent minus 10 percent) of Social Security’s funding problem.

Basically, Clinton and Edwards would face a choice: Do we pay extra Social Security benefits to the richest of the rich? I find it hard to see the social value in that. And we would only solve, at most, about 14 percent of the problem if we did. Or do we collect extra taxes from the rich, but not credit them to benefits, basically severing the contribution-benefit connection and turning Social Security essentially into a pure-redistributionist welfare program? We could solve up to 30 percent of the problem by doing that, but we would destroy Social Security’s basis as a contributory system.

As noted, the Democrats pretend that these proposals accomplish more than they would in actuality. They do so by relying on the seventy-five-year actuarial balance. Basically, this pretends that the government saves Social Security money and that it earns interest. It doesn’t. But by pretending that it does, the Democrats make the long-term deficit appear much smaller since they subtract the interest-compounded value of money the government would be given now to spend. This is particularly ludicrous when you consider they even would assume that past Social Security surpluses have been saved, where clearly everyone agrees they have not.

Of course, none of this touches upon the economic downsides of raising taxes of this magnitude. Increasing taxes by this amount would expand the payroll-tax base by nearly 10 percent — a huge additional drag on employment. Moreover, raising the top tax rate to pre-Bush levels, as most of the leading Democratic candidates have proposed, and lifting the payroll-tax wage-cap would hurt the economy and ultimately raise far less tax revenue than static-revenue estimating models would predict.

The combination of these two proposals would place dramatically higher tax rates on economic success. Assuming that these tax hikes became effective in 2008, the maximum federal tax rate would rise from the current 38.44 percent (35 percent income-tax rate plus the Medicare payroll tax) to 52.89 percent. Such an increase would severely reduce after-tax incentives for productive efforts while encouraging tax avoidance.

Raising Social Security taxes is the exact wrong medicine for Social Security’s financial problems. Without action to fix Social Security, today’s thirty-year-old workers can expect a 27 percent benefit cut when they retire. Instead of raising taxes, the best way to save Social Security is to create voluntary personal accounts so that younger workers can achieve higher rates of return on their retirement dollars.

• Medicare Tax? Health Care for the Elderly? Let’s look at the facts about the proposed Medicare Tax … and a medical care program for the aged that already exists! What’s the hurry here? The supporters of the proposed Medicare Tax would have you believe that passage of this controversial bill is urgent … that persons over 5 are deprived of needed medical care because they can’t pay for it. Nothing could be further from the truth. The Kerr-Mills Law, passed by Congress in 1960 – enabled individual states to guarantee to every elderly person who needs help the health care he or she requires. We call this health program … Health Opportunity for the Elderly. Thousands of people every day are being helped by its generous benefits. And unlike Medicare, which would substantially increase your Social Security Tax payroll deductions, existing programs are being paid for now by a part of your present tax dollar! Medicare? NO. Health Care for the Elderly? YES! ….. 1964 American Medical Association Ad, A5157.
• Do Pretax deductions for federal income tax also apply to medicare and social security?
• Seniors: Would Social Security become financially solvent if everyone’s payroll taxes went up 2%?
• Can you get tax returns on social security and medicare taxes that are witheld?