Business Q&A

Question:What are the taxes that I am expected to pay in the US? Does it depend on the amount of money I make? How to I calculate my final salary (after taxes)?
Answer: http://www.paycheckcity.com/netpaycalc/n…
international: http://www.salaryexpert.com/?fuseaction=…

Question:need federal tax site to pay federal taxes on line?
Answer: http://www.irs.gov/

Question:what do you think of jackson hewitt tax service?
Answer: I have never used them personally, but my thought is that it would vary by who your tax preparer is. If you found someone at their local office that you felt comfortable with then thats great. There […]

Question:Is every 1099 automatically matched to your tax return, or is it a more or less random process?
Answer: My experience has been that the IRS does a VERY thorough job of matching 1099's to tax returns. I've been notified by the IRS about 1099's they recieved that I […]

Question:i work at walmart….how do get my w-2 online?
Answer: If you have a web based HR application, you may be able to get it there. Your employer is not required to provide you with your W2 for 2005 until January 31st.

Question:Which 1040 form do I use to deduct contributions to my traditional IRA for 20005?
Answer: Assuming you have “earned income” not passive…Use Long 1040 - Line 32 - IRA Deduction - look at Page 31 of book they send you. You can't deduct contributions to a ROTH […]

Question:rules on withdrawing money from an IRA before age 59 1/2?
Answer: For a 401K, unless it's for a true hardship, you will pay a stiff penalty. Check with your plan administrator but I believe it's around 25%, plus you will have to pay taxes on the amount […]

Question:Before I file how can I tell if I owe federal or state and is their away I can find out how much is owed????
Answer: if you files last year it should be on your return if you owed or if you recieved a refund. Aslo you can […]

Question:what is a 1040 Long Form?
Answer: It's a US federal income tax form. Its formal name is simply Form 1040. (The other 1040s are called the 1040A and the 1040EZ.)

Question:IE: What would happen to our existing Roth, IRA, SEP's, 401(k)'s, and 403(b)'s?
Answer: Yes. The reason that we'd still need the retirement accounts is because the US population is too used to the income based taxes — also there's WAY too much money floating around the […]