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 Please can someone explain what and how one would need to do to claim on milage for business use driving?
As opposed to claiming all of the expenses involved in running a car etc... I am pretty sure you can claim £0.40 per mile for the 1st 10,000 miles,and less after that... is this correct? also what P...

 How much can I expect to pay on this amount with these deductions....just estimate?
45-55k, self employed with an LLC, I am a recruiter.

Have 2 children, married, home office, this was first year of business, lots of computer equipment was purchased etc and it's in N...

 Will the British tax payer be expected to bail out British Petroleum?
I have noticed a different PR tack recently where the importance of BP to the British economy is more and more highlighted - even though mostly it is irrelevant. It's almost softening up the ...

 Will Quebec buyers, buying in B.C. from the internet, be affected by the implementation of HST July 1st?
I'm currently building a computer and buying all the componenets for a web-store located in B.C. and since now I've only been paying GST which was a good thing. I would like to know if I ...

 The IRS asked for my W2 form, what does that mean?
I am a 27 year old single, and i made about 45000 in the year 2009 and I also bought a condo prior to the first time home buyers tax credit expiration. The property was closed on April 8, well ...

 Would income tax and sales tax decrease in an economic depression?
an increase as the economy improves or is it the other way around? Sources?...

 Buying stuff from Australia?
I'm going to be buying something worth around $7k and delivered from Australia to the Chicago Area in the US. I was wondering what type of taxes I would be responsible for. Customs and ...

 capital gains tax question?
I am really confused & wondered if someone can help with info about capital gains tax please?
I bought a house for £65000 in 1999 & lived in it until 2006. At that point I bought a ...

 Do you believe lower taxes create more government revenue...and job growth?
Well, I do and all I do is look at........history.
Let's walk it through for the libs ...

 If a stripper gets breast implants can she write it off on her taxes as a business expense?

 What are the millimetres of a UK cheque?
What are the millimetres width and height. I would love to know as I can't find it using Google.
I would like to cut paper the same size as a cheque.
Additional Details
If ...

 Why didn't I get my Ontario, hst in my bank?
My gst and child tax goes into my bank but I didn't get my hst?...

 Page 4 of P45 missing?
I was made redundant in December 2009 and paid a visit to the Welfare office the day after the event to apply for job seekers allowance (I didn't have enough stamps). I left and was contacted 2 ...

 what is the IRS 8b payout all about?

 what is No. of dependents?

 How's the monthly pension calculated if a person worked for different companies in his working life?
Am I right to think it this way? MonthlyPension=company1Pension + company2Pension + company3Pension + company4Pension. It depends also on the number of years he contributed to each company? Thanks....

 Korean or Japanese girls?
I met 2 girls yesterday an I like both but got 2 choose 1. their both sexi and I am sexi but I am still a virgin I want one of them who are good at sex no looking for relation ship just don't ...

 does anyone know about capital dividends?
I know when you need to pay out capital dividends you file form T2054 http://www.cra-arc.gc.ca But what do you need to do when you have increased the capital ...

 Did I just screw my dad over?
Ok, so I just got a thing from Google and they wanted to make me a partner and then I joined and made a AdSents account. Now I am not 18 so i had to use my dads name. My dad does not live with us he ...

 how can i file for under-employment?
Can you file for under-employment instead of unemployment, Iam still working but hrs have been cut from full-time to about part time,I live in M...

will z
Claiming exempt on Form W-4, as a minor?
I got a summer internship and I am filling out some paper work. I was told to claim exempt on the W-4 because of the insignificant amount of money I will be making over the summer. Is this right? Some people say if I don't exceed 5700 for the year I can claim exempt, but the paper says if I exceed 950 then I cannot claim exempt. Also if I do claim exempt, for line 5 on the Employee's Withholding Allowance Certificate portion, do I put 1 from Line B in the Personal Allowance Worksheet above? Or because I am claiming exempt, I put 0? Also if I do claim exempt, how do my parents deal with me when they do taxes?
Help would be greatly appreciated!
Additional Details
thanks, you guys/gals were a great help. I called my parent's tax person and they told me to put my status as married and put on line 5 the number 2 for some reason. I am thinking you guys are right but I am not sure


Happy Gramps
If you are still being claimed on your parents taxes, then you don't even need to fill out a W4 at all; if for some odd reason you are not on their returns, then go to www.paycheckcity.com for help in filling out the W4

5700 is the cutoff for income from a job; $950 for investment income like interest or stock sales.

If you can and do file as exempt, don't put numbers on the other lines.

Your parents will still be able to claim you like they normally do - it won't affect them.

the $950 is investment income
as w-2 wages you can file exempt because you very likely will not earn $5700 thru the summer and you are still a student
I believe you enter or mark at the bottom of the form where it asks for 'exempt'

Bash Limpbutt's Oozing Cyst©
If your unearned income is less than $300 and your total income is less than $5,700 you can safely file your W-4 as EXEMPT. If you do, leave sections 3, 5 & 6 blank and write EXEMPT on line 7. If you put any numbers on lines 5 or 6 and write EXEMPT on line 7 your W-4 is invalid. If your employer does payroll manually they may miss that but if a payroll service does their payroll they'll ignore the W-4 and start withholding a Single + 0 allowances.

Doctor Deth
if you are making less than $5700 a yr from a paycheck job, and your parents claim you then you can put exempt on your W-4 , you won't get any FEDERAL Income tax withheld (you will still get FICA and state/local income taxes withheld) and you will NOT owe any income tax

don't worry about your parents taxes

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