Archive for income
Do I need to report as income a one time $200 paycheck?
Posted by: | CommentsI worked at a camp in Colorado (in live in California) last summer and earned $200 and got a W2 from the camp stating the $200 income earned. I also have a W2 from the job that I regularly have year round and earned $55,000 (which I know I need to report). Do I need to report the $200 when I file my taxes? I use TurboTax and just answer the questions that are asked. Should I just go along with what the program asks and will it sort itself out?
1st off..I LOVE being home with my 5 month old son everyday & taking care of him & my husband!!
At times I do feel guilty for not working (I know mommyhood is a ft job though lol). Here’s some history:
I was supported by my gma 100% til I was 19 when she remet her highschool sweetie & decided to marry him & gave me 2 wks notice to get a ft job & my own apartment. I lived in a 1 room efficiency & worked in sales & waited tables for about 5 years….I struggled but I was extremely independent. I put off school to work & pay my bills (I got 1 semester in..ugh!) So I feel like a failure there..even though I still plan to finish 1 day…..Then I met my husband right before I got into apt leasing, where I worked for about 1.5 yrs.
When we found out we were prego, we decided I’d continue to work throughout my pregnancy/or until I paid off my credit cards (he’d take a car payment but no credit debt! LOL)..so I got to quit my job at almost 7.5 months to stay home & rest before the baby came.
As I was driving 50 miles each way to & from work everyday…and with the price of gas..I was extremely grateful that I was able to do that.
After our son was born we made the decision that I’d stay home with our boy instead of returning to work. Mostly because the benefit of raising our son ourselves would be better than basically paying & working to be away from him…we’d break even. (ie: the cost of gas, daycare lunches, etc/….would be my paycheck). We plan on having 1 more child, hopefully a girl in another year or so..my husband said I can stay home til they’re both in school…then work pt after if I want.
My husband has a really good job in which he gets to work from home 75% of the time & travel about once a month for about a week. He made just over 6 figures last year with his salary, bonus, stocks, etc… so we really dont want for much…we’re super lucky to be such a young new family & have so much (mostly due to him lol)..new house, 2 cars, nice things..furniture…etc..
Now we don’t “need” what I made (he made that just from his bonus & stocks) for monthly expenses….it would be nice to add the patio, pool, redo the kitchen but its not necessary to survive yknow?
Anywho…do any of you other mommas feel guilty being so dependent on your signficant others? Regardless if its yours, his or both your money…its still strange when you go from contributing to the family to not contributing…I feel guilty buying an outfit or getting my hair done. He told me to just put everything on the card when I grocery shop, shop for me, etc….
I’m just so confused…and I feel like I’m not contributing to our family. I was raised by workaholic & not involved woman/moms so I know the value of my being here to raise my son & I dont regret my decision one bit…..its just hard to swallow I guess.
Plus I dont know what I’m gonna do for his birthday…or Christmas…or our Anniversary….it feels SO WEIRD & not right to buy him a gift using the money he gave me or to put it on our credit card (all mine are closed now lol). I mean I did get b-day $$$ for my b-day and I’m probably gonna use most of that to get him a gift (he REALLY wants a PS3) but still…everyone who gave me that said it was for me to get something special for me (so much for that new laptop lol).
Anyways…I think I’m done rambling =) thank you all for your advice I really appreciate it!!
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income for a 14 year old.?
Posted by: | CommentsI am 14 and I don’t get allowance. I really would like to start earning my own money. I can’t get a job because I am not 16. Their is nobody in my neighorhood needing a babysitter. And almost everyone I know is short on cash. I don’t want to take my moms money. She needs it all to pay bills and put food on the table. However the only cash I do get is for holidays and it’s not nearly enough to help cover everything I need. I am trying to save up money for food,college, and a used vehicle. I figured that I would like some extra money also for recreational activities. Any help here? I have wanted to start my own business for about 2 years now but I don’t know where to start. Thanks 
In Michigan you have to be 16 years old to get a job. Unless I work under the table which would be breaking the law and I don’t want to break the law.
what are the requirements for claiming a deduction for federal income tax?
Posted by: | Commentsmy grandson has lived with me since august. he turned 18 10-29. he was in state of michigan boot camp from 1jan until july. he lived with his mom until august. then he has been with me attending high school
How did the government fund itself before the income tax of 1913?
Posted by: | CommentsAccounts Receivable Tax
Building Permit Tax
CDL License Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges (tax on top of tax)
IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Tax
Marriage License Tax
Medicare Tax
Property Tax
Real Estate Tax
Service charge taxes
Social Security Tax
Road Usage Tax (Truckers)
Sales Taxes
Recreational Vehicle Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Tax
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Non-recurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Tax
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
Not one of these taxes existed 100 years ago…and our nation was the most prosperous in the world.
We had absolutely no national debt..
We had the largest middle class in the world…
And Mom stayed home to raise the kids.
I’m not saying that no one should pay taxes, obviously the government needs a revenue source to perform its legitimate duties…LEGITIMATE DUTIES.
Billions a year in entitlement programs, and billions more with upcoming Obamacare.
Maintaining a “defense” budget that is more than double the combined budget of the rest of the world.
Fighting wars of aggression across the world, occupying foreign nations.
Sending billions to “allies” and “enemies” alike.
Arming “allies” and “enemies” alike.
None of this is legitimate.
I don’t want zero government, or ineffective, underfunded government.
I want properly funded, effective government that does exactly what it is supposed to do and nothing more.
.
We know that Obama signed a record defense budget last year.
http://en.wikipedia.org/wiki/US_defense_budget
Defense-related expenditures outside of the Department of Defense constitute between $216 billion and $361 billion in additional spending, bringing the total for defense spending to between $880 billion and $1.03 trillion in fiscal year 2010.
And compare that level of spending with the rest of the military world.
http://en.wikipedia.org/wiki/Defense_budget
(in billions)
United Kingdom 57.670
France 54.592
Germany 38.145
Italy 33.454
Canada 18.293
Spain 14.295
Turkey 11.593 (2006)
Netherlands 10.232
Greece 7.323
Poland 6.144
Norway 4.969
Belgium 4.315
So yes, US military spending is more than double the rest of the world.
how do I claim income, sale income etc?
Posted by: | CommentsWe rented out our travel trailer this past year for near 8 months payment was received on a weekly bases. What form do we use to claim this? Also, since he was on workers comp during the past year we had to improvise and found ways to make extra money. He did a lot of yard sales with stuff he purchased from auctions which gave a profit of approx. $1000.00 per sale,also he fixed up old lawn mowers and tillers and sold them for extra money. I realize this is a form of income I am just wondering how to claim it? on what form ?
thanxs
Cabela’s 1Q net income jumps 57 percent
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Cabela’s 1Q net income jumps 57 percent
Outdoor gear retailer Cabela’s Inc. on Tuesday reported a 57 percent increase in first-quarter net income, helped by soaring revenue from its financial services segment, and issued an upbeat forecast for 2010.
Read more on AP via Yahoo! Finance
