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Recent Federal Tax questions

I am in the middle of a divorce and need to have a estimate

I am in the middle of a divorce and need to have a estimate how much California tax and federal tax I will owe on my income come tax time at end of the year, we have not had a judge tell us which of us can claim our son yet but his attorney keeps saying my income is not taxed. I know it is at the end of the year it has been since I was disabled in 2009. My income is as follows. SSDI for mysel $1190 monthly minus part B premiums of $178 and Part D premiums of $75 . I get SSDI dirivative from my past employment for my 15 year old son of $297 a month, Cal-pers medical reirement (taxed) $437 a month, Child support $298 and Alimony $552 a month. please give me a amount I can turn into the judge to concider for my income and expense decleration.

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

3,962 satisfied customers
If you put a lien on your own property that you own free and

If you put a lien on your own property that you own free and clear 1st can the IRS still take the property without paying off the first lien. Does the lien process mean 1st come 1st served? Can this be down by mechanics lien and process of UCC1JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: no

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

3,962 satisfied customers
I'm considering taking $8,000 out of my IRA account, I have

I'm considering taking $8,000 out of my IRA account, I have just over $11k. I know theres a 10% withholding fee for Federal, can you tell me what I can expect come tax season next year? How much will I owe the state? How much will the early withdrawal fee be? Ect

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

3,962 satisfied customers
I recently lost my job after a lengthy illness and surgery.

I recently lost my job after a lengthy illness and surgery. My income for 2016 has been 17,500$. I am in medical debt and trying to recover physically. I do not qualify for disability and am seeking employment now. In the meantime, I am considering pulling 20,000 from my 401 K as a last resort to pay off medical debt and survive until employment is found. I know there is 10% taken out off the top. Isn't there a 25% payment on taxes for my complete income at the end of the year. How do I figure out if this will make me owe taxes? I own a home and have one child under 17 in my home. Thank you....trying to make an informed decision.

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Mark Taylor

Certified Public Accountant

Masters

826 satisfied customers
Am lookin for my ptin number, am trying to get my dad tax

hello am lookin for my ptin numberJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: am trying to get my dad tax return transcript for my school and they only going to release it to me if i file a 8821 form and is askin for a ptin numberJA: Is there anything else important you think the Accountant should know?Customer: and my dad said he dont know what tht is and i want to know where can i find that

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Dr. Fiona Chen

President

Ph.D.

242 satisfied customers
My husband, a federal government employee, died in 2010

my husband, a federal government employee, died in 2010 leaving me a widow with 4 kids. i received the federal employee's basic death benefit of $51,058.45, but they withheld $10,211.69 for tax, even though his income yearly was not very much, mine was none, and supporting 4 kids. now i am living in poverty on only social security survivor benefits. is there any way i can get that withheld amount refunded back to me? i dont think its right for for that high of a tax amount considering how low our income was.

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

3,962 satisfied customers
My daughter works for a foot Dr and gets a paycheck with

My daughter works for a foot Dr and gets a paycheck with differet deductions all the time can you tell me what are the percentages of the Mich Tax and FICA and federal taxs used to get the net amount.

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Mark Taylor

Certified Public Accountant

Masters

826 satisfied customers
I recently purchased a new vehicle (brand new 2016 model). I

I recently purchased a new vehicle (brand new 2016 model). I travel with work as a consultant, being out of state for 30 to 60 days at a time, then home for 3-4 days, then back out on the road for another 30-60 days. What deductions might I be able to claim as far as fuel, tolls, depreciation, etc; on federal taxes and what documents would I need for verification?

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Robin D.

Vocational, Technical or Trade School

20,916 satisfied customers
I retired last month, my wife retired at age 62 now(65) and

I retired last month, my wife retired at age 62 now(65) and we receive close to 2900.00between the 2 of us. I am receiving biweekly 1500.00 for a year as a part of the packageof being laid off. I also received 7200.00 from social security as a back pay because I waited until I was 67 before I took full retirement and they go back 6 months. They are taking taxes out of my biweekly check. I was told you are allowed to all the money youwant without being taxed for social security income. I need to know it that is correct.

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Robin D.

Vocational, Technical or Trade School

20,916 satisfied customers
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