indiana state taxes help Canadian Buying a motorhome in USA whats involved?
Im thinking of buying of a A Class Motorhome in either Michigan, Indiana, Ohio or Illinois , I kind of know about what happens when I get to the border, the 72 hour title thing and paying GST then pst when i register it, but in Michigan the dealers are saying I have to pay State tax as well when i purchase it, as well if the title is clear someone in Ohio said I dont even get the title right away , so not sure if I can even drive it back right away is it better to buy a private deal ?, any help you guys can give would be great
You should get the title right away if they have it, without the title you will not be able to get across the boarder.
You will have to pay state sales tax if you buy it from a dealer and take position at the dealer. To avoid sales tax you have to get it driven out of the state “out of state delivery” and notarized that you took position out of state.
If you buy from a private party there is no way for the state to regulate the sales tax so they should just give you the title and you should be on your way.
Glenn Beck Shorts 03-31-09 Tax Day Tea Parties April 15th
Michigan’s gas prices, the highest in the nation on Thursday, have vehicle owners fuming and the tax collectors smiling.
Michigan collects six percent sales tax on gasoline hence the soaring prices mean big bucks to state coffers. According to the AAA, with the average price of gas at $3.30 a gallon, tops among the 50 states, Michigan is collecting nearly eight cents more per gallon than when prices were below $2 in January.
The Michigan Petroleum Association, which represents 2,600 gas station owners, estimates that every additional penny in tax collected per gallon yields $50 million for the state over the course of a year.
Michigan is one of just six states that apply their sales tax to gasoline purchases, and charge a per-gallon excise tax. Most other states collect all their pump taxes on a per-gallon basis, so motorists pay more in taxes only if they purchase more fuel, not because the prices increased.
“It’s a huge windfall for the state that nobody talks about,” said Grosse Pointe resident Dan Keros. “When gas was a dollar, they got six cents per gallon (in sales tax); now they get 20.” Keros thinks state lawmakers should pass a law that lowers the 19-cent-per-gallon excise tax when gasoline prices, and sales taxes, are increasing.
Michigan sales tax on gasoline is one reason the state has been the most expensive place to buy gas in the United States twice so far this year. The governor’s office dismisses suggestions that the sales tax pushes price increases.
“Many factors influence the price of gas, but sales tax is not one of them because it has held constant at six cents on a dollar thorough out the year,” said Liz Boyd, a spokeswoman for Gov. Jennifer Granholm. “We’re not experiencing a windfall from sales tax in this state and supporting public education is the best thing we can do to rebuild our economy.” Boyd also pointed out that as consumers spend more on gas, they are less likely to buy other products. That means the state collects less tax at malls and other retailers.
Separating the cost of fuel from the taxes is not always easy, because stations include taxes in their prices, said Mark Griffin, the president of the Michigan Petroleum Association. “A lot of consumers don’t understand how much they are paying in taxes and how much the state is benefiting from the high price of gas,” he said. “It seems ironic that we’re the ones being called gougers.”
That tax makes it hard politically to increase the per-gallon excise tax, which funds road construction, a group of road builders said. Ohio, for example, levies 28 cents per gallon, all of which goes toward road improvements.
More money for roads would help with everything from patching potholes to building infrastructure that businesses need, said Craig Bryson, the spokesman for Oakland County’s Road Commission. “Ohio has more money to spend on their roads, but their total tax burden at the pump is lower,” he said. “It creates a huge hurdle to improving our roads. The gas tax for roads has not increased in eight years.”
Other factors why gas prices are soaring like Airaid include the closure of a Kansas refinery due to flooding and the shutdown of equipment for repairs at a major BP refinery in Indiana. But the downed refinery is expected to come on line within the next few days, and prices should dip throughout the region in a week or so, said Doug MacIntyre, a senior oil market analyst at the U.S. Energy Information Administration.
Motorists are hoping MacIntyre is right about prices dropping soon.
Small Business Tax Tips: are You Ready for the January 31 Deadline?
April 15 is not the only critical tax deadline. If you are a small business owner with employees or independent contractors, January 31 is an important tax deadline you cannot afford to ignore.
The end of January is the due date for several payroll-related tax forms and tax payments. Before reviewing them, here’s some good news. Whenever a federal tax deadline falls on a Saturday, Sunday or legal holiday, the due date is automatically moved to the next business day.
Since January 31, 2009 is a Saturday, the due date has been extended to Monday, February 2, 2009. (Perhaps those two extra days will come in handy!) Also keep in mind that to comply with any federal tax deadline, your mailing must be postmarked on or before the due date.
Here are the key federal payroll forms and tax payments due on February 2, 2009:
1. Form 941, Employer’s Quarterly Federal Tax Return. This is the form used to report all employee compensation (wages, salaries, commissions, bonuses, etc) during the fourth quarter, as well as federal income tax withholdings, social security taxes and medicare taxes (both the employee’s withholding amount and the employer’s match).
If the quarter’s total tax (as shown on Line 10) is more than $2,500, then you should have been making payroll tax payments during the quarter according to the IRS payroll tax payment requirements. (See IRS Publication 15 for details on that.)
But if the quarter’s total tax is less than $2,500, you can pay your entire quarterly payroll tax liability with Form 941. Just be sure to include voucher Form 941-V with the return and make your check payable to the U.S. Treasury.
2. Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return. This is the form used to report federal unemployment tax, which employers’ must pay (i.e. out of your own pocket) on behalf of each employee. The tax is typically 0.8% of the first $7,000 in wages paid to each employee each year. So the most you pay for any one employee is $56, assuming the employee had at least $7,000 in wages.
The Form 940 is only filed annually. But the 940 tax must be paid at the end of any quarter in which the unemployment tax liability reaches $500. So you should be calculating the tax every quarter to see what your liability is. If it reaches $500, make a payment by the end of the month following the end of the quarter. If it’s less than $500, you carry over the liability to the next quarter.
Most small businesses that have fewer than 10 employees usually don’t have to make a federal unemployment tax payment for quarters 1, 2 or 3. But when the 4th quarter rolls around you will have to pay the entire annual tax liability. If your total annual tax is $500 or less, you can pay it with the Form 940 (be sure to include voucher Form 940-V). If the tax is more than $500, you must pay the tax at your local bank or via the IRS electronic payment system (EFTPS).
3. Form W-2, Wage and Tax Statement. You must give or mail W-2’s to all your employees no later than February 2, 2009. Employers must include Copy B, Copy C and Copy 2 along with the Instructions for Employee. In addition, you must send a copy of all W-2’s to the Social Security Administration by March 2, 2009, along with Form W-3, Transmittal of Wage and Tax Statements.
4. Form 1099-MISC, Miscellaneous Income. The most common use of this form is to report total annual payments to independent contractors (sole proprietors who provided services to your business) of $600 or more. You must send Copy B of the 1099-MISC to the recipient by February 2, 2009. And you must also send Copy A to the IRS by March 2, 2009, along with Form 1096.
Important: Your state probably has payroll tax forms and payments due on January 31 or February 2, so be sure to check with your state’s tax department for details.
Six-month Deadline for banks; Rich Americans suing Swiss banks; Obama and Jindal Speeches
indiana state taxes help Ohio or Indiana ? – State tax question !?
I am a resident of Indiana but work in Ohio. Do I just file Indiana state taxes or both Indiana and Ohio ? Please help! I’m running out of time. Greatly appreciate it !!!!
Indiana and Ohio have a reciprocity agreement which allows you to file in your resident state. Your employer should have withheld IN taxes even though you worked in OH. You would file an Indiana resident tax return (Form IT-40) and report your wages. If your employer withheld OH taxes, then you would also need to file a claim for a refund.
indiana state taxes help My brother and I inherited my dad’s home in KY when he passed away. How do I file state taxes?
The house was located in Kentucky, but I live in Indiana. Our dad passed away in 2004, and we finally sold it in 2009. After speaking to the IRS (Federal), they determined that since no one lived there since he died, etc, it is considered Investment Property. It turned out to be a loss: Sale Price = $37K, Selling Expenses = $3790, Adj Basis was $40,100. This are the total figures, not divided in half. I figured out how to list it on my Federal return, but…
How do I list this on my Indiana return?
Do I need to file a tax return in KY?
Do I list it as income in either state?
Do I deduct selling expenses, and if so, where would I list that?
What about city/county taxes paid to the state of Kentucky?
Any help would be appreciated!
Also, this may sound silly, but should the selling price of the house be listed as “income?” It’s not wages, so I’m not sure how that works and where to list it on the return. Thanks!
You add your selling expenses (not real estate taxes or other pro-rated items) to the adjusted basis and enter that total in the cost column. The sale price is the gross sale price. Of course, both of these are cut in two.
You file this on your Indiana return because you are a resident there. The loss should be to your advantage.
This is investment property as long as you didn’t use it personally or rent it out.
You may also need to file a non-resident Kentucky return but should owe no tax there.
Unless you itemize your deductions, the real estate taxes paid to Kentucky will be of no benefit except that you can include them on Sch L if you haven’t already maxed the beneficial real estate tax amount there ($500 or $1000 MFJ).
Federal Consolidation Student Loans â € "the difference between the Federal and Private Student Loan Consolidation
The best tool for the Management of some debt is student loan consolidation. This mixture helps you all your private or federal student loans into one with longer maturities and favorable payment terms.
In the U.S., there are two types of student loan categories available: The Federal Student Loans and private student loans.
The federal student loan consolidation will help a student to combine all his loans into one with a very low interest rate. The length of the payment date can be set according to his needs. A student can ask for a federal consolidation loan different Financial institutions each, the large loan amounts.
On the downside is that help low monthly payments will increase the full amount be repaid. Even so, the Federal student loan consolidation offer the following positive features:
– Interest rate â € "the sentences offered by the federal student loan consolidation plan is far lower than any other private loans.
– Monthly payments â € "Jeopardize the monthly payments are now affordable and wonâ € ™ t your budget
– Single Name â € "each Months have youâ € ™ ll make only one payment.
If a student is enrolled is not repaid in each school and each other previous loans in time or if he is then in the post probation after he is eligible for federal loan consolidation. The minimum amount is $ 10,000 or more.
The students that even federal educational loans are eligible for consolidation loans. The student debt consolidation loans doesnâ € ™ t include private education loans.
A student may, for a federal consolidation loans to several companies and institutions such as: use secondary markets, banks and credit cooperatives.
The federal government loan interest amount is tax deductible and thatâ € ™ s why it would be best not to federal and private loans to mix. If the student does not mean that hea € ™ ll only lose their benefits offered by a federal consolidation loan.
Alan Collinge never imagined he would become a student loan justice activist. He planned to land a solid job after college, repay his student loan debt, and then simply forget the loans ever existed. Like millions of Americans, however, in spite of working hard, Collinge fell behind on payments and entered a labyrinthine student loan nightmare.High school graduates can no longer put themselves thr…
As someone once said (it may have been Einstein, but it may have been someone else): “The universe is not only stranger than we imagine, it’s stranger than we can imagine.”
Whoever may have said it, in 1929 a certain Robert Ripley took the message to heart and set about proving it. The result was a long-running cartoon strip titled “Ripley’s Believe It or Not” that eventually boosted Ripley to head an international media empire.
Ripley’s cartoons would illustrate bizarre facts and happenings around the globe. They were extremely popular and sometimes had surprising consequences.
For example, in November 1929 he published a panel saying, “Believe it or not, America has no national anthem,” which started a national debate on the subject. It took less than two years to rectify the situation. In March 1931 President Herbert Hoover signed a law adopting “The Star Spangled Banner”, based on an 1814 poem by Francis Scott Key, as the America’s musical standard bearer.
I used to be an avid reader of “Ripley’s Believe It or Not”, as well as other sources of odd and amusing facts. I still enjoy learning about the weird and the wonderful, because it is an excellent way of staying young.
Here are a few of my favorite oddities. I have actually checked some of them myself and they proved to be correct. It is therefore probably safe to assume that the rest of them are as well, however bizarre some of them might seem. It is possible that some of the weird laws I have come across are now (hopefully) outdated.
A male emperor moth can smell a female emperor moth up to 11 kilometers (7 miles) away.
A man had the hiccups continuously for 69 years.
A mole can dig over 81 meters (250 feet) of tunnel in a single night.
In South Bend, Indiana, a monkey was once tried and convicted for smoking a cigarette.
A person at rest generates as much heat as a 100 watt light bulb.
A group of owls is called a “parliament”.
A group of ravens is called a “murder”.
A group of rhinoceros is called a “crash”.
A group of toads is called a “knot”.
A group of whales is called a “pod”.
A pregnant goldfish is called a “twit”.
A rat can survive longer without water than a camel.
Rhinoceros horn is not horn but compacted hair.
A rodent’s teeth never stop growing; they are worn down by constantly gnawing on bark, leaves, and other vegetables.
A shark can grow a new set of teeth in a week.
About 70% of all living organisms in the world are bacteria.
About 85% of all the plant life on Earth is in the ocean.
A starfish can turn its self inside out.
A whale’s heart beats only nine times a minute.
A woodchuck breathes only ten times during hibernation.
Anteaters prefer termites to ants.
All 17 children of Queen Anne of England (1665 – 1714) died before she did.
After eating, a housefly regurgitates is food and then eats it again.
Gangster Al Capone was not sent to prison in 1932 for racketeering or murder, but income tax evasion.
Baby robins eat about 4.4 meters (14 ft) of earthworms every day.
Catgut comes from sheep, not cats.
A cat has 32 muscles in each ear.
In ancient Egypt, killing a cat was a crime punishable by death.
Chopsuey is not a native Chinese dish; it was created in California by Chinese immigrants.
If the Earth were smooth, the oceans would cover the entire surface to a depth of nearly 4,000 meters (12,000 ft).
If you are chased by a crocodile, run zigzag; a crocodile has difficulty making sharp turns.
Almonds are a member of the peach family.
Peanuts are an ingredient of dynamite.
A dragonfly has a life span of only 24 hours.
It’s impossible to sneeze with your eyes open.
The microwave oven was invented after a researcher walked by a radar tube and a chocolate bar melted in his pocket.
The first commercial microwave oven was called the “1161 Radarange” and was the size of a refrigerator.
A Las Vegas hospital once suspended workers for betting on when patients would die.
In the 16th and 17th century, drinking coffee in Turkey was punishable by death.
In the Middle Ages, a court in France ordered a cow to be hanged for injuring a human.
?Millions of trees are accidentally planted by squirrels that bury nuts and then forget where they hid them.
Deep-sea explorer Jacques Cousteau invented scuba gear during World War II while in the French resistance.
In the 1830s, ketchup in the United States was sold as a medicine.
In the 1890s, Coca-Cola was originally sold as a medicine.
Kleenex tissues were originally used as filters in gas masks.
In 1969 Larry Lewis ran the 100 yard dash (92 meters) in 17.9 seconds; he was 101 years old.
Less than 2 per cent of the Earth’s water is fresh.
Lightning strikes somewhere on Earth about 6,000 times every minute.
Lobsters have blue blood.
Abdul Kassam Ismael, Grand Vizier of Persia in the 10th century, took his 117,000 volume library with him wherever he went. They were transported on the backs of 400 camels.
Arabic numerals were invented in India.
Celtic warriors sometimes went to war naked, their bodies dyed blue from head to toe.
In 1840 Great Britain became the first country to issue postage stamps.
In 1836 Mexican General Santa Anna held an elaborate state funeral for his amputated leg.
In 1982 Larry Walters in Los Angeles tied 24 weather balloons to his lawn chair and ascended to an altitude of 16,000 feet.
Oak trees do not have acorns until they are 50 years old or older.
Orchids are grown from seeds so small that it would take thirty thousand to weigh as much as one grain of wheat.
The Mexican jumping bean is not a bean. It is actually a thin-shelled section of a seed capsule containing the larva of a small gray moth called the jumping bean moth (Laspeyresia saltitans).
The partridge berry is a botanical Siamese twin; each berry develops from two flowers.
The primary purpose of growing rice in flooded paddies is to drown the weeds surrounding the young seedlings. Rice can, in fact, be grown in drained areas.
A motorist in Finland was fined over $160,000 for going 80 km/hour in a 40 km/hour zone because speeders are penalized in proportion to their income.
A man filed a lawsuit against his doctor because he survived longer than what the doctor had predicted.
In Quebec, Canada, an old law stated that margarine had to be a different color than butter.
In Singapore, it is illegal to sell or own chewing gum in order to prevent it from being thrown on the sidewalks.
The majority of burglaries occur during the daytime when people are not home, not at night.
In Venice, all gondolas must be painted black, except those belonging to high public officials.
An old law in Bellingham, Washington, made it illegal for a woman to take more than three steps backwards while dancing.
To reduce traffic congestion, Julius Caesar banned all wheeled vehicles from Rome during daylight hours.
During the reign of Catherine I of Russia, the rules for parties stipulated that no man was to get drunk before 9 o’clock; a woman wasn’t to get drunk at any time.
During the reign of Peter the Great of Russia, men who wore a beard had to pay a special tax.
During World War I, homosexuality in the French army was punishable by execution.
During World War II, bakers in the United States were ordered to stop selling sliced bread. It was never explained how selling only un-sliced bread helped the war effort.
Every citizen of Kentucky is required by law to take a bath at least once a year.
Early Romans used to use porcupine quills as toothpicks.
The longest recorded coma lasted 37 years.
The world’s most prolific mother was an 18th century Russian peasant who gave birth to 69 children.
In the 1940 film “You’re in the Army Now”, Regis Toomey and Jane Wyman kissed for 3:05 minutes, the longest cinema kiss in history.
When a Rappel’s vulture collided with a jet airplane on November 29, 1973, they were flying at 11,277 meters (36,086 ft), the highest altitude ever recorded for a bird.
Amongst mammals, the Asiatic elephant has the longest gestation period before giving birth. On average, a pregnancy lasts 609 days.
Bamboo can grow as much as 91 cm (35 in) in a single day.
The “bee hummingbird” in Cuba is the world’s smallest bird, measuring only 57 mm in length and weighing only 2 grams.
The “bumble bee bat” of Thailand is the world’s smallest mammal, also weighing only 2 grams.
The tree that lived to the greatest known age was a bristlecone pine found on Mt. Wheeler, Nevada. It was 5,100 years old when it died.
Open-heart surgery on a hemophiliac in Chicago, Illinois, in 1970 required 1080 liters of blood.
The longest lasting rainbow, observed in Gwynedd and Clwyd, North Wales, on August 14, 1976, lasted 3 hours, 5 minutes.
Albert Einstein’s formula “e = mc², the basis of atomic energy, was published in 1905, not in the early 1940s as many people believe.
Pope John XII, elected in 955, was only 18 years old when be became leader of the Catholic Church.
William Pitt, considered one of Britain’s best Prime Ministers, was elected to the office in 1783 at the age of 24.
A Sunday edition of the New York Times, printed in August 1987, weighed 6.3 kg (14 lb).
Contact lenses, originally reserved only for serious eye problems, were experimentally introduced in 1888.
A single flower of the rafflesia plant in Indonesia can weigh up to 10 kg.
Dueling is legal in Paraguay as long as both parties are registered blood donors.
Police in Radnor, Pennsylvania, interrogated a suspect by placing a metal colander on his head and connecting it with wires to a photocopier. The message “He’s lying” was placed in the copier. Police pressed the copy button each time they thought the suspect wasn’t telling the truth. Believing the “lie detector” was working, the suspect confessed.
A lawyer defending a man accused of burglary argued, “My client merely inserted his arm into the window and removed a few articles. His arm is not himself, and I fail to see how you can punish the whole individual for an offense committed by his limb.” The judged agreed. “Using your logic,” he said, “I sentence the defendant’s arm to one year’s imprisonment. He can accompany it or not, as he chooses.” The defendant then detached his artificial limb, laid it on the bench, and walked out.
Philip Yaffe is a former reporter/feature writer with The Wall Street Journal and a marketing communication consultant. He currently teaches a course in good writing and good speaking in Brussels, Belgium. His recently published book In the “I” of the Storm: the Simple Secrets of Writing & Speaking (Almost) like a Professional is available from Story Publishers in Ghent, Belgium (storypublishers.be) and Amazon (amazon.com).
What Is An Inheritance Tax And When Is It Applied?
When an individual passes, on the federal government imposes an estate tax. This estate tax only applies to estate properties that are over one million fifty thousand dollars. The federal government is still likely to tax an estate even if all or a portion of the estate is being handed down to other family members. Instead of imposing an estate tax in this situation, there many states that impose an inheritance tax.
An inheritance tax is also commonly referred to as a death tax because it is a tax that is imposed on all estate money and property after an estate owner passes away and leaves their estate or a portion of their estate to another person. States that currently collect a tax on inherited estate money or property are Connecticut, Maryland, Massachusetts, New Jersey, Nebraska, Pennsylvania, Oregon, New York, Indiana, Kansas, Louisiana, Kentucky, and Iowa. Since each state is likely to tax their residents differently, individuals need to research the inheritance tax laws in their state or hire the services of a professional tax attorney. There are also many state governments who regularly update their inheritance tax guidelines, and many states are even considering completely dropping the inheritance tax. This is why it is important for taxpayers or their tax attorneys to keep up-to-date on the latest inheritance tax information.
When the federal government imposes an estate tax the amount of taxes owed generally comes from some of the estate money left behind or the sale of estate property. The state taxing process of money or property that was inherited is a little bit different. States that have an inheritance tax require that the individual who receives the inheritance file and pay any taxes due on the money or property they inherited. This money does not come directly from an estate because it comes from the individual who received the inheritance. http://www.taxhelpdirectory.com/federaltax/
As previously mentioned, different states have different rules, guidelines, and restrictions surrounding an inheritance tax; however, there are several common circumstances that many states all consider. When an individual who has passed on leaves money or property to a close family member, the inheritance tax is likely to be lower than if the property was given to a friend or distant family member. Most states consider a close family member a mother, father, brother, sister, daughter, son, or spouse.
Individuals who are required to report an inheritance and pay a tax on it are required to fill out the necessary state forms. These forms can be obtained by contacting one of the state taxation offices. The phone numbers for these state offices can generally be found by doing an Internet search or by using the contact information from your last state tax return. It is also possible that the inheritance tax forms can be downloaded from the Internet. The majority of states that impose an inheritance tax have a tax website that may have a downloadable copy of the forms that can be printed, completed, and mailed in.
As with estate taxes and traditional state income taxes, there are a number of inheritance tax deductions that can lower the amount of tax money that an individual may owe on their inheritance. To determine these deductions individuals preparing their own inheritance gift tax forms are encouraged to fully read the form instruction booklet to determine what these exemptions are and if they qualify for them.
We the People serving Pete Visclosky Indiana 1st Congressional District