MLM Passive Income

What is New York State Income Tax Rate For Capital Gains? I did my own taxes for the first time this year. Using tax software, I plugged in what my refund would be if I had no stock sales in 2006. BTW, my tax bracket is 15% and I'm in New York. Without Capital Gains: Federal Refund : $400 and State Refund : $1460 Capital Gains of only $4416. Federal : $260 (I owe) and State Refund : $1037 According to an online Capital Gains calculator I used, my Federal tax should be $662 (which explains why my refund went from $400 to minus $260). What I can't understand is why my State refund dropped so drastically.

How do you estimate what your capital gains tax would be on investment property? This is a difficult situation. We own a piece of undeveloped land in FL and are considering selling to put a down payment on a house in CA. We have owned it for about 14 years. My husband is military and a FL resident. We currently are stationed in CA and I am a CA resident. The land is a joint tenancy. FL doesn't have a capital gains tax, but CA does. So I am guessing that we have to split the gain 50/50 and have 50% taxed by the state of CA. We are trying to use an online capital gains tax calculator to figure how much we will have to pay. We had an assesment to pave the street. Would that be an improvement cost? Also, the state bought a small portion to widen a highway. Would the money they paid us be deducted from the basis? How do you come up with the depreciation? My property value has went up (according to the county assessment). How do you figure out what the tax rate is on the gain? I know this is tough one, but I appreciate all the help.

accumulated depreciation? I found a Capital Gains Tax calculator on-line. It asks for accumulated depreciation for a primary residence home I'm thinking of selling. How do I calculate that?

How much will I pay in taxes? I am new to trading..got lucky a couple of times and I profited about 10k this past year and about 16k form my military paycheck. I got a paper from my broker that says capital gains/losses 177k.... I put those numbers in a tax calculator and it says that I will have to pay 38k in my tax return..Geez im scared, How much will I really pay in Taxes? Please help my wife and I with this she is scared that we might have to declare bankruptcy. Thank you in advance for your advice...ohh if it helps we have one dependent and shes a student and only made about 4k for the year so that totals about 30k in total income for us this past year.

Capital gain tax on sale of flat.? I purchased flat in 1978 for 64000 rupees and selling the flat for 1157200 rupees. As per tax calculator following calculation is shown Sale Price : Rs. 11572000 Actual Cost of Property : Rs. 64000 Indexed Cost of Property : Rs. 0 Profit on sale of property net of all expenses : Rs. 11568000 Holding period : 32 years and 8 months Long term capital gain tax rate applicable : 20 % Long term capital gain tax : Rs. 2313600 Net profit on sale of property : Rs. 9254400 1) Is above calculation correct? If yes then is it confirm that amount of 2313600 will be taken by government as tax? Then will I have only 93 lakhs to spend and from that if I use 75 lakh for buying new flat then is remaining amount i.e. 18 lakhs would be taxable or not? 2) I want to purchase new flat for maximum price of 75 lakhs. After spending 75 lakhs how much amount from remaining amount of 4072000 is taxable? 3) How should I save tax? I need to have maximum amount from 4272000 as an Fixed deposit in bank, how to achieve that so I can get good interest? My age is 72 years, i am male, hindu. Residing in pune(Maharashtra). I am definately Buying a flat which costs 75 lakhs, so after that how much amount is taxable? How to avoid that tax by investing in bonds? How much would I get Tax free to invest in Fixed Deposit? Please Give calculation formula so that if flat purchase amount(75 lakhs) changes then I can re-calculate other amounts, like how much I can invest in Fixed deposit and how much in bond, how much tax amount would be unavoidable? I am asking a lot but please help if you can.

Capital gain tax after i selll my flat.? I purchased flat in 1978 for 64000 rupees and selling the flat for 1157200 rupees. As per tax calculator following calculation is shown Sale Price : Rs. 11572000 Actual Cost of Property : Rs. 64000 Indexed Cost of Property : Rs. 0 Profit on sale of property net of all expenses : Rs. 11568000 Holding period : 32 years and 8 months Long term capital gain tax rate applicable : 20 % Long term capital gain tax : Rs. 2313600 Net profit on sale of property : Rs. 9254400 1) Is above calculation correct? If yes then is it confirm that amount of 2313600 will be taken by government as tax? Then will I have only 93 lakhs to spend and from that if I use 75 lakh for buying new flat then is remaining amount i.e. 18 lakhs would be taxable or not? 2) I want to purchase new flat for maximum price of 75 lakhs. After spending 75 lakhs how much amount from remaining amount of 4072000 is taxable? 3) How should I save tax? I need to have maximum amount from 4272000 as an Fixed deposit in bank, how to achieve that so I can get good interest? My age is 72 years, i am male, hindu. Residing in pune(Maharashtra).

Can I divide investment home ownership among 3 people and then have them gift back their portion to me? I will be selling an investment home soon. I purchased the vacant land 2 years ago and started building a house 3 months later. The house was finished 6 months after I began construction on it and has been listed on the market for about 8 months. This is the first ever house I have built and it may be the last. Based on this I believe I should qualify for long term capital gains treatment. But I'm still a bit unsure as to the actual 'holding period' rules, as I've been told many different things. A tax professional told me the holding period began the moment I put it up for sale. People on this forum say he is wrong. I am planning on actually closing after I've had the house up for sale for a year just to be on the safe side. I'm no different than anyone else trying to pare their tax bill down. My question is this: can I divide ownership of the house among 3 people (myself and two friends or relatives) before it sells, with myself holding the majority share and the other two each receiving a 10% stake in the ownership so that when it sells they will receive some money and I will have less taxable income to report? Can they then "gift" the money back to me with no tax consequences to myself on the gift portions? They are both low income earners and according to the turbo tax calculator if they report $10,000 worth of capital gains it will not increase their tax bill. Is this legal, and if so, how would I go about doing it? Also if I am able to do this, will the "holding period" for long term capital gains treatment reset?

Liberal IQ test, #5, are you more cunning than a bag of dirt? You might need a calculator for this one, too: Which of the following Bush tax cuts benefited the “rich” more: a) Creation of a new 8% tax bracket b) Reduction of tax brackets across the board c) Reduction of capital gains tax for lower incomes (from 15% to 5%) d) Expansion of Earned Income Credit to include low income households without children Oh Captain, my captain: The estate tax is ONLY for the rich. The exlcusion has been increased steadily for some years now. Only those with estates larger than $3.5 million have to pay it. Sorry, Sammy, I deal with facts only. Hey, G: Looks like Warren Buffet was wrong! His investments in Coca Cola and Anheiser Busch paid off in this now flourishing economy, huh? (Or maybe you're quoting him wrong? Liberals have been known to do that!)

Estimating 2012 taxes? In 2012 we will have income only from non wage sources like pension, social security, 401K withdrawals, some capital gains, and passive rents/royalties. None of this has withholding. I want to build a personal tax estimator/calculator spread sheet for making quarterly payments. (In fact it would be a good calculator to add to Yahoo Finance for retiring/retired Baby Boomers!) My obvious starting point is the tax tables and brackets, but would welcome any suggestions.

2009 Taxes - What am I doing wrong? I'm using the 2009 Edition of H&R Block's Tax Calculator to find out how much I'm going to have to pay in income taxes (My unemployment benefits equal $331 per week. My benefits were $306 per week until Obama gave us an extra $25 in the Spring of 2009). I was laid-off in December of 2008, so the only "income" I had coming in was the $331 per week. For a whole year my benefits were never taxes (and I figured this would kill me). I claim head of household and have one child (age 9).My home interest paid, home taxes and auto taxes equal $5938, so of course the calculator is bumping out my figures and giving me the standard deduction of $8,350. The calculator is giving me $7,300 in personal exemptions (for a taxable income of $1,162). On the overall view, I see something called Regular Tax for $116, and the Child Tax Credit of $116 (same thing?). While this is only a calculator, and it doesn't go into detailed information, I'm providing the figure of +$2,000 for Capital Gains (though my losses in the market were probably higher). That's it, there's nothing else to enter. The calculator states I owe $0 (nor am I receiving a refund). This can't be right . . . can it? I never had a dime deducted from my UI benefits the whole year, and I don't owe anything? I made $2000 in the stock market, I don't have to pay taxes on that? Am I missing something?

Economics question please help? A firm was considering a capital project with an investment of $324 thousand. The gains are expected to occur over five years as follows: yr 1=$100 thousand, yr 2=$125 thousand, yr 3= $150 thousand, yr 4=$125 thousand, and yr 5=$100 thousand. which of the following three rates of return approximately is expected a. 10%, b.20%, or c.25%? explain how you determined which is the correct answer (without using software froma a business calculator or computer that would provide the exact answer without thingking).

A potential employer emailed concerning my longevity. What do I say? Reasons for my exits are in the details.? e.g email just received Good morning Thank you for your CV and application; although you are right with the right skills and experience, my concern is your longevity within your last few roles and the instability you pose to my client on a permanent basis Could you clarify why your last 3 roles were so short? ------------------------------------------------------------------------------------------------------------------------------------------------- I have provided the honest reasons why I left my jobs in capital letters under my duties - Names of work places have been changed. ------------------------------------------------------------------------------------------------------------------------------------------------- EMPLOYMENT TV Advertising January 2011 – Present Media Sales Consultant • Target independent local businesses to contact on a B2B level to arrange face to face appointments. • Challenge any objections with a view to get clients to buy into the TV advertising service. • Create and update databases to generate information concerning client trends. • Fact find to gain a clear understanding of clients business requirements to have an advantage. • Visit clients face to face to demonstrate and present samples of company's service. • Make accurate, rapid cost figures to provide customers with quotations with my own created personal calculator spreadsheet. • Negotiate terms, agreements and prices with clients to close sales. PRESENTLY THERE THEY ONLY PAY COMMISSION NO BASIC - THEREFORE ITS HARD TO MAKE A LIVING Medical Recruitment August 2010 – December 2010 Compliance Officer / Nurse Recruitment Consultant • Develop a good understanding and rapport to discover candidates needs i.e. present / previous work experience, culture and working environment suited on the telephone or face to face. • Headhunt suitable candidates through the bespoke database system or through referrals. • Complete a rapid search to find the relevant candidate for a present vacancy. • Receive applications packs and review compliance to guarantee candidate gets shortlisted for an in-house interview. • Request and chase references to confirm candidates’ suitability for each role. • Negotiate candidates pay rates to finalise arrangements between internal client teams and management. • Aim to keep up with KPI’s on a weekly basis; 2.5 hours call time on a daily basis, 2 new working nurses a week. WAS A MUTUAL DECISION TO LEAVE, RELATING TO PERFORMANCE, THE COMMISSION STRUCTURE NEVER BEING EXPLAINED AND THE FAST TURNOVER OF EMPLOYEES Health Service January 2010 – August 2010 Health Advisor / Trainer • Responsible for training new starters to take live calls to the highest level. • Support existing staff on live calls or Call Streaming and Prioritisation Tool database (CSPT) if required. • Constantly trained to seek and build knowledge on KPI’s within the Health Service. • Receive inbound calls and provide information / advice to the public. • Redirect / stream inbound calls from the public to the appropriate professional i.e. nurses, dental nurses, general practitioners, ambulance services and other medical professionals. • Accurately record caller information on the in-house (CSPT) database in accordance to the data protection act. • Keep to KPI’s i.e. delivering an excellent customer service & handling calls in a timely manner – under 3 minutes. HAD TO WORK 12 HOUR NIGHTS AS WELL AS DAYS - IT WAS ALSO A FILLER JOB STRAIGHT FROM UNIVERSITY IN ORDER TO FIND A WORK PLACEMENT THAT SUITED ME IN THE MEAN TIME.

Can I divide investment home ownership among 3 people and then have them gift back their portion to me? Note: I want the person with the screen name "QUICKANSWERS" to stop answering my questions. First of all this is a different question than others I have posted. I am not interested in your unhelpful garbage responses. I would like some input from other people besides yourself. Please do not answers any of my questions again or I will report you for "abuse." I will be selling an investment home soon. I purchased the vacant land 2 years ago and started building a house 3 months later. The house was finished 6 months after I began construction on it and has been listed on the market for about 8 months. This is the first ever house I have built and it may be the last. Based on this I believe I should qualify for long term capital gains treatment. But I'm still a bit unsure as to the actual 'holding period' rules, as I've been told many different things. A tax professional told me the holding period began the moment I put it up for sale. People on this forum say he is wrong. I am planning on actually closing after I've had the house up for sale for a year just to be on the safe side. I'm no different than anyone else trying to pare their tax bill down. My question is this: can I divide ownership of the house among 3 people (myself and two friends or relatives) before it sells, with myself holding the majority share and the other two each receiving a 10% stake in the ownership so that when it sells they will receive some money and I will have less taxable income to report? Can they then "gift" the money back to me with no tax consequences to myself on the gift portions? They are both low income earners and according to the turbo tax calculator if they report $10,000 worth of capital gains it will not increase their tax bill. Is this legal, and if so, how would I go about doing it? Also if I am able to do this, will the "holding period" for long term capital gains treatment reset?

can someone share capital gains/losses calculator excel sheet for FY 2008-2009?