Business Q&A

Question:How to calculate Wealth Tax ?
Answer: If you mean estate tax, it's based on the value of the decedent's estate on the date of death.

Question:It will be a tricky one this year. I don't mind paying for it to be done good. Should I hire an accountant?
Answer: Yes. In my experience a good CPA is worth it.

Question:federal tax, state tax, property tax, vehicle tax, sales tax-etc.
Answer: Mad Max Beyond thunder dome

Question:Do you have to pay taxes beyond what's taken out of your paycheck? (not real estate)?
Answer: You're referring to income taxes, right?
When the withholding laws were enacted, the theory was that the taxpayer would contribute through it just enough so they wouldn't owe anything or get anything […]

Question:the child is 11 years old and has lived with me all year he is my girlfriends child and i have supported him all year can i claim him?
Answer: First off yes you can only if she has not claimed him on her taxes because the child can […]

Question:ok thanks so is the tax value usually lower or higher than the appraisal value im in nc?
Answer: In most cases the tax value will be lower than the appraisal value. I don't know the specifics of NC property tax assessment laws, but in my experiences this […]

Question:is tax value and appraisal value the same on houses or what is the difference thanks?
Answer: tax or assessed value = value determined by local assessment authority (like a county assessor or tax collector) for property tax assessment purposes. Methodology can vary from state to state greatly.
appraised […]

Question:I am trying to validate my understanding of mutual funds and their tax implications.
Say I invested $100,000 in some mutual funds and the funds had a $8000 capital gains distribution in 2005. The gains were credited as additional shares in my account and my “cost” according to the mutual fund, is now $108,000. However, […]

Question:I have tons of receipts from purchases made throughout 2005. I was wondering at what point does keeping records of your sales tax payments become beneficial?
Answer: Based on your income and number of exemptions, you get a base amount from Publication 600. In addition, you can also […]

Question:If I get married do I have to file jointly or can I file married but single?
Answer: In the US, you can file jointly or independently stating your status as married. No restrictions on how you submit money to the government as long as you do.