how do I carry over from one year to the next an oversea tax credit that my husband's company pays in for him?
451011
The form is Form 1116, Foreign Tax Credit.  You appear to be saying that you were not able to use the full credit last year, probably because the Indian tax rate was higher than the  US rate.  Excess credits can be carried back one year and forward 10.  If you have the same kind of foreign income in a later year, then you should be able to carry the excess forward and use it to offset US tax in the later year.  This is a complex subject and you must be sure your accountant knows what he or she is doing.\n\nIf your husband claimed the sec. 911 foreign earned income exclusion, then the Indian taxes allocable to the income that he excluded cannot be credited or carried over.
1137232
You should have a CPA go over your documents. It would be worth the money.
173602
He can claim you as a dpendant under the right circumstances. You can just file on your own an let the IRS do their job. That's the easiest way.
490134
The current tax law says you (and your spouse, if married, filing jointly) can take capital gains of up to $250,000 each without paying capital gains tax AS LONG AS you have a). lived in the house a total of 24 months during the last five years (summers, winters, whatever) and b). it is your primary residence (you should have your driver's license at this address).  You will pay capital gains tax on anything over that amount.\n\nThere is no lifetime limit on how many times you can take this exemption, however, you can't take it more than once every two years.
144856
Call their corporate office and tell them where you want them sent. Or, have your tax preparer call them.
670036
Did your husband use your house as collateral to purchase the truck?  A lender can go after those proceeds since he is going to get money from the house sale.  \n\nCheck with a tax person regarding purchasing a house again.  I think you have one year to reinvest that money back into a house without a tax penalty, but after that you are looking at capital gains for the profit.
199653
it becomes your income for that year, so its added to your gorss income for tax purposes. having the employer paying the premiums doesnt make the difference.  was the loan more than the policy? what interest rate was charged on your 'loan'?  once you have the premiums cash in hand i think you should see an investment broker or such and get assistance on socking most of it away in to an rrsp or something so you wont be taxed to siberia on it.
739645
You can't claim it in a different year than the one in which it was paid or accrued, but you can file amended returns for those prior years to claim a refund of the tax that the deduction would have saved.  However, an amended return must generally be filed within 3 years of the due date of the original return, which means that you may only be able to claim a refund for the interest attributable to the years 2003-2005.\n\nConsult a tax advisor for advice that takes your specific circumstances into account.
728502
If you are a US resident, living and selling a property in the US, you have one year from the date of sale to buy another, more expensive property, to avoid capital gains taxes.
1057165
Get married, then he can apply for residency.  When you go through the process there is several things you will need to get in order.  \n\nSince you are sponsoring him, you need to show proof of employment for three years.  They will ask you for the last three income tax returns.  This is to show you are able to support him.  I am not sure, because I don't remember since it has been a couple years, but I believe there is an income limit.  You have to make something like 15k or more a year.  \n\nAlso, once you legally get married and he receives his green card, he cannot leave the US.  If he does during that period he will not be allow to return back to the US, they don't tell you this!.  Sure make sure he doesn't travel back to Mexico during this time.  \n\nIf he must leave the country because of an emergency he will have to obtain special permission from INS.  The whole process will cost you about $2,500 and this is without using an attorney but doing it yourself.   \n\nI hope this helps. Good luck\n\nThis is for all the people who are judgmental due to this poor girls predicament,  show some humanity, as if you NEVER made a mistake, give me a break.....
287763
If you had bought it in December you could file it this year but since you bought it in January you will have to wait until next year, but a tax preparer should be able to handle that for you when you tell them about the vehicle.
818845
I am going to make some assumptions:\nYour father-in-law keeps/kept 50% of the profits he makes, and 50% goes towards company overhead.\nYour husband keeps 25% the profits he makes, your father-in-law keeps 25% of the profits your husband makes, and 50% goes towards company overhead, or 75% goes toward overhead.\nEither case a percentage of all profits goes towards the company overhead. In most cases auto expenses, advertisement, and payroll come out of company overhead.\nIf your company is unable to cover overhead then you either have to 1) decrease the amount of expenses coming out of overhead and/or 2) increase income into the overhead.\nA recommendation would be to look at company costs then decrease the amount of the profits that the owners are keeping (husband & father), thus increasing the amount that goes into overhead. Set a reserve in the overhead account (one month of expenses) and after that is meet and maintained then pay bonus to the owners.\nBottom line, If your husband is now in control of the company, the company will reap the benifits of the advertising. If it is old advertising, it is still an overhead of the company and your husband assumed responsiablity of the company. Your husband should also have the right to make sure that the business stays aloat and make difficult decissions that influence not only the father's pay but yours as well. \nThe ad agency will work out a payment schedule with the company or you can try to settle for dimes on the dollar.
54808
They should send you a statement every year.\n\nAsk them - they should be keeping records, and should be able to provide you with something.
72901
i think you can go into one of those tax services like at amscot or hrblock with you last paystub and it shouldn't be a problem as long as everything is correct and up to date.
607429
yes, often it gets taxed before it hits you...and then gets taxed again. NOKIA is probably a favorite example here in the US...widely held, widely known.\n\nYou will be offered the chance to claim the foreign tax paid as a deduction or as a credit. A credit will be worth more to your bottom line. There is a line item on your taxes that will ask SPECIFICALLY if you paid any foreign tax. THAT is where your entry goes. Good luck.
379215
if you've lived in your current principle residence for at least 2 years out of last 5 years, then you have $250k tax free capital gain (or $500k for married couple). any gains over this amount will be taxed regardless whether you invest in another house or not.
397473
Did your husband receive a 1099-Misc?  This would be reported on IRS form Schedule C.  Then you can deduct all expenses related to the job.  Then you will need to fill out Form schedule SE to figure out how much Self-employment tax you owe.  \n\nHere is a link to the IRS website that should answear any other questions you have about self-employment.\n\nhttp://www.irs.gov/businesses/small/article/0,,id=98846,00.html\n\n\nAnyone with a social security card already has a TIN or Taxpayer Id Number.