The Tax Preparation Blog

Posts Tagged ‘income’

Toronto poised to hike recreation fees to find $23-million

Weddings, false fire alarms among proposed increases

Canadian Pension Income Tax Splitting Services | pension-income-splitting.com

Question: How can I earn money that my wife won’t know about?

What kind of jobs pay under the table in California? I can’t get a legitimate second job because my wife will see the income on our tax papers.

Answer: You could pick fruit with the illegals. It doesn’t pay very well, though.

Zurvita Holdings, Inc. Reports Fiscal 2011 First Quarter Results

HOUSTON, TX–(Marketwire – 01/11/11) – Zurvita Holdings, Inc. (OTC.BB: ZRVT – News ) (“Zurvita” or the “Company”), a dynamic direct-to-consumer network marketing company offering turn-key solutions for high-quality consumer and business products and services, today announced its financial results for the first quarter of the 2011 fiscal year, ended October 31, 2010. First Quarter 2011 Highlights …

How Tech and Medical Tourism can save Gaming, Convention, and Hotel tourism in Vegas.

Question: “Income tax exemption: altered.”?

My original parenting plan says if my son’s dad is not current on child support that I can claim my son on my tax return. (we were to take turns). He had his supprt lowered (and is still not paying) My confusion is in the paperwork I got with the new amount , change in insurance responsibility, etc., It had a blank line where his attorney wrote “Change ITE.” I looked on the court public access online and it said, “Income tax exemption: altered.” Does anyone know what this means? something to do w/ filing taxes or how he got his payments lowered?. Nothing actually says I can’t claim my son. who do I call about finding out? wouldn’t something have to be given to me in writing if the rule was changed?

Answer: The custodial parent gets to claim the qualifying child when all of the rules are met by the custodial parent and the qualifying child to be claimed as a QC dependent.
Go to the IRS gov web site and use the search box for Publication 17 go to chapter 3
Qualifying Child
Residency Test Rule 3
Children of divorced or separated parents or parents who live apart. In most cases, because of the residency test, a child of divorced or separated parents is the qualifying child of the custodial parent. However, the child will be treated as the qualifying child of the noncustodial parent if all four of the following statements are true.
Custodial parent and noncustodial parent, The custodial parent is the parent with whom the child lived for the greater number of nights during the year. The other parent is the noncustodial parent.
Equal number of nights, If the child lived with each parent for an equal number of nights during the year, the custodial parent is the parent with the higher adjusted gross income.
You can click on the below related link for more information and examples.

1.The custodial parent signs a written declaration, discussed later, that he or she will not claim the child as a dependent for the year, and the noncustodial parent attaches this written declaration to his or her return. (If the decree or agreement went into effect after 1984 and before 2009, see Post-1984 and pre-2009 divorce decree or separation agreement , later. If the decree or agreement went into effect after 2008, see Post-2008 divorce decree or separation agreement , later.)
2.A pre-1985 decree of divorce or separate maintenance or written separation agreement that applies to 2009 states that the noncustodial parent can claim the child as a dependent, the decree or agreement was not changed after 1984 to say the noncustodial parent cannot claim the child as a dependent, and the noncustodial parent provides at least $600 for the child’s support during the year.
Custodial parent and noncustodial parent. The custodial parent is the parent with whom the child lived for the greater number of nights during the year. The other parent is the noncustodial parent.

Did Talking Ban in Strip Clubs Leads to Tax Evasion?

Strippers, mistresses, tax fraud — we must be talking about Wall Street.

New Rules: You and the IRS this January

Bringing back billions in âblack moneyâ

Although estimates of Indian black money stashed in secret accounts vary wildly, a recent Global Financial Integrity Report put that figure at over US$450 billion. Black money has become a big headac …..

www.iTrust.in — Tax Tips – Tell me…”What is my TDS status if I have worked for two employers?”

Question: Tax preparation for railroad employee?

I’m wondering if I should file a 1040EZ or if it’s worth finding a professional to get the deductions I may be entitled to? (I do not have dependents and I am not a homeowner). I’ve been searching online for a CPA that has experience w/railroad employees and I’m not having any luck. (I live near Chicago). Thanks for any help in advance!!

Answer: If you are not a homeowner, a 1040EZ should be fine.

Opponents fight to protest outside Church of Scientology

Church officials say they want to be left alone A Chicago judge will decide this month whether a city code prevents protesters who oppose Scientology’s teachings from expressing their discontent any time the church’s doors are open or only during its conventional Sunday worship service.

Tax Preparation for Newlyweds Chicago