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Posts Tagged ‘Income’

New York FREE state income tax E-Filing?

02 Sep

I am looking for a website that offers e-file for state taxes for FREE. I already did my federal taxes using H+R Block’s website. Every site I come across offers free federal e-filing, but then charges you for STATE filing!! Yipes- any ideas everyone?

 
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What’s the income tax reduction for making money with tax liens?

01 Sep

How much income tax would one pay through investing in tax liens?
depends on that does it? no shit

 
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What is the personal income tax structure in USA?

29 Aug

I am coming to USA and say for example if I make US$ 30.00 per hr., What will be my yearly income and how much tax I will have to pay? I will work say 8 Hrs a day with my status in USA on H1B visa.

 
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If a civil case forces you to return prior income, can you adjust your previous tax returns?

22 Aug

Say my business make 100k this year. And next year, a civil suit claims that income was an ill-gotten gain, and I have to settle and return the 100k I made.

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.

 
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Is personal income tax constitutional?

18 Aug

The Marxist doctrine of communism is “from each according to his ability to pay, and to each according to his needs”. Personal income tax seems to go according to that creed. Whats the deal here?
Ok so I read the constitution, but in the section 1 article 8 it’s pretty clear. I think you are referring to the 16th amendment.

“The Congress shall have power to lay and collect taxes on incomes,
from whatever source derived, without apportionment among the several
States, and without regard to any census or enumeration.”

Here is where the “rights” to tax income are taken.

 
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What are some of the services in Massachusetts that will dissapear if the income tax is eliminated?

09 Aug

I’m curious what the real impact would be if the income tax is eliminated. Please reply in an objective manner! What services would go? How would these eliminated services be paid for? Why, as a 24-year old, should I WANT to pay income tax for many services that do not benefit me in any way?

 
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Am I right that federal tax is a personal income tax and not a business tax..??

06 Aug

hi guys.. am I right that federal tax is a personal income tax and not a business tax..??

I need answers.. thanks in advance =)

God Bless!

 
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Do Pretax deductions for federal income tax also apply to medicare and social security?

05 Aug

Does taxable medicare and taxable social security income decrease for pre tax deductions (such as 401k, flex spending) in the same way the federal taxable income decreases?

 
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Does anyone know the phone number to find out about your state income tax refund ?

02 Aug

I have tried to find out about my state tax return and I can’t find anyone to help me. Please Help Someone

 
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How are Business losses treated on my personal income tax?

25 Jul

I am currently employed, but will be starting a business, set up as an s-corp. If this business losses money…say $10,000, how will that be treated on my personal income taxes?

 
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What is “tax as a share of personal income”?

13 Jul

Can anyone tell me what this means? Is it just personal income tax?

 
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Is the personal income tax unconstitutional and illegal?

02 Jul

I had heard rumors about this before but I have heard the movie “America From Freedom to Fascism” explained this in great detail. It basically sounds like nothing in the constitution allows for the IRS to tax personal income.

IRS typically says it is the 16th amendment that allows them to tax personal income, but multiple supreme court rulings have said the 16th amendment does not allow for any new types of tax, so personal income tax is still illegal.

Apparently many people have stopped paying federal income tax and have been acquitted in the courts because the IRS can not site what laws require people to file income tax each year and to pay personal income tax.

Multiple ex-IRS employees were interviewed who all confirmed they spent lots of time and research trying to find such a law only to discover there is none.

While it is apparently illegal to file a false tax return, there is apparently no law requiring you to file a return in the first place.
“The constitution allows for two kinds of taxes. They’re called direct and indirect. The federal government in the Constitution can tax almost anything, as long as it apportions the tax if it’s direct. The indirect tax is a, for example, an excise tax. I can avoid the excise tax on gasoline. …

The income tax which is being applied now doesn’t meet the criteria of either direct or indirect taxes.

The IRS claims that in 1913, the 16th Amendment, the income tax amendment, allowed the government a third form of taxation. What was the Supreme Court’s ruling on that? … The provisions of the 16thment Amendment conferred no new powers of taxation. The case also said that the 16th Amendment did not impose any new taxes and did not change any of the taxing restrictions of the Constituion.”
“It’s actually very simple. Congress tried to enact an income tax in 1894, the Supreme Court said that’s unconstitutional. When the Supreme Court says something ins unconstitutional, it’s unconstitutional.

They tried again in 1913 and the Supreme Court said the 16th Amendment conferred no new power of taxation.

So if they didn’t have it then, and they didn’t get it, they don’t have it. There is no constitutional basis for attacks on the wages of Americans living and working in the 50 states of the union. Period. End of argument.

The definition of income in the Constitution was given in the Eisner versus McCumbre case. And it turns on gains or profits that are made from some activity. Doyle versus Mitchell, 247, U.S. 179, 1918. Here’s what he said. The idea of gain or increase arising from corporate activities. In other words, it doesn’t mean wages. It doesn’t mean dividends. It doesn’t mean alimony. It means a gain or profit arising from corporate activity.”
“Isn’t it true that the word income is not defined anywhere in the Internal Revenue Code?

The law says that the government has a right to tax income from any source derived.

So, but the word income is not defined in the code? It just says income without a definition of what income is.

That’s right. That’s right.

…. The definition of income in the Constitution was given in the Eisner versus McCumbre case. And it turns on gains or profits that are made from some activity. So the Supreme Court has rules. Income is not wages. It’s not labor. It’s gain from corporate activity.”

Title 26 requires you to file a return.

But doesn’t TItle 26 have to be in compliance with the Supreme Court decisions?

You’re gonna take a 1920 case and superimpose it on the whole Internal Revenue Code that was written after it? No, that’s not…”
“We’ve been brainwashed. People have been told, you know, that you need this income tax system to fund government, which is absolutely ridiculous. I mean, my question is, well, if that’s true, how did we fund government from 1776 to 1913?

And a lot of people might say, well, gee, if there wasn’t an income tax, what would happen to education? They don’t understand, uh, that education is paid for, for the most part, out of state and local taxes, your property tax.

People might say, well, how are we gonna build and maintain our highways if there’s no money coming in to the government? We need our highways. There was a tax on every gallon of gasoline that people buy.

Proceeds from the income tax do not pay for highway construction. The amount of money that we spend on defense is exactly equal to the amount of corporate income tax, which is quite legal and quite constitutional.”

 
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Is there a better alternative to minimize the payment of personal income tax, 100% by the law?

20 Jun

Context:

- I am a Spanish citizen, living in Spain (European Union);
- I will incorporate a LLC company, in the state of Nevada;
- I will open a corporate bank account in Cyprus, on the name of my LLC company;
- I will have a web site that gets an income on advertisement, on the name of my LLC company, transferring the money directly to the corporate bank account in Cyprus.
- I know that I have to pay personal income tax in some country.

Where do I pay IRS? Spain? EUA? Cyprus?

Is there a better alternative to minimize the payment of personal income tax, 100% by the law?

 
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www.irs.gov Is 1041 due? mother died with assets of $2000.00,only income was SocialSec & pension of $111.?

15 Jun

Sister and I only beneficiaries. She did distribute $ 100,000.oo to each of us about 8 years ago.

 
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Personal Injury Attorney – Income and Getting Clients?

15 Jun

1. How many clients would a 1st of 2nd year Personal Injury (“P.I”) Attorney expect to handle annually?
2. How does a P.I Attorney build a practice and obtain clients? (aside from the TV Commercial type adverts)
3. This question is for practicing P.I Attorney’s – i assume job satisfaction is very high give you are helping people fight high powered insurance companies and the like, is this true?

 
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