It’s my first year in a new job and I am currently claiming 1 on my W4. My tax return was a little smaller than I had hoped this year, so I was thinking of claiming 0 to give me a bigger "bonus" next year. How much money can I expect to disappear from my paycheck which is usually around 50 after pre-tax deductions, and about 0 after taxes now?
The exact scenario is an uncle and a nephew bought a car. The uncle was the co-signer, but the nephew is the driver and ‘owner’.
When doing 2009’s tax return, can only one person claim this deduction or can they each claim 50% of the cost?
Thanks!
If parents lists x number of children on their tax return, how much money is deducted from their income for each child?
I’m not asking about the ,000 tax credit, child care tax credit, or how much a child can earn tax free.
What is the raw value of the tax deduction?
My daughter attends nursery school. I was wondering if either myself or her father *we are together, not married* who file our taxes seperatly could use the money we paid as some sort of deduction on our tax return?
We live together so the child resided with us both for the entire year.
we both work, I work from home.
My 10 year old son lives with his father and step-mother. I have paid child support all of the year of 2005. My son’s father is on disability and therefore cannot file a tax return. However, my childs step-mom did work PART of the year and now is saying that she is going to use my son as a tax deduction on her returns. I have always used my son and this will really mess things up if I don’t get to use him. So who has more of a right to use the deduction. Step-mom or myself? Also, what would happen if we both used him and how long would it take for this to be noticed?
I bought a 2009 Potiac G6 in May of 2009 so I qualify for the New Car Tax deduction (NOT talking about Cash for Clunkers here). I make a good wage for a single person but never end up having to pay in additonally at the end of the year for taxes and always have gotten a tax return. How will this tax deduction work for me? Will I just get a larger return?
Here is my situation: real estate tax for home, 00, doing tax return with taxcut
I entered real estate tax in Form 8829 for business use of my home, it deducts 0 in business expense for the 10% use of home business on Schedule C.
when I am upto the real estate tax in deductions, should I enter 00 as my real estate tax?
I am confusing since I see this in taxcut:
What about real estate tax that I entered for my business?
If you already entered real estate taxes in the Your Own Business (Schedule C) topics, don’t enter those same taxes again here.
thanks any helps.
Hello, i am trying to get the most of my tax return this year. I am a single mom, my son is elementary school he attends daycare And i just purched a new used car. How can i file? will the new car count as a deduction?
I am a foreigner working in the US. I file the resident 1040 tax return. I support my parents abroad. Can I claim tax deduction on my tax return? If so how?
I am working on a tax return that has a small side business of car racing. He has many expenses which are legitimate deductions the thing is that i am unsure of where to put the expenses for engine parts and methanol fuel. Any help would be greatly appreciated