I am helping my uncle prepare his taxes. He has a 16 year old boy that lives with gramma and dad. During the school year he went home to grammas after school, and then to dads for the late afternoon and night, and during the summer evenly spent time with both, pretty much an even 6 months with each. Gramma wants to claim him because she runs a business, and takes him to a large amounts of doctors appointments and gets him on tons of medications with no medical insurance, and if she claims him she gets more deductions. (i personally think if she wants it all for him, she should have to take the fall for the money she decides to spend on it but oh well) Whereas now he mainly lives with his dad, but during 2008, he was 6months with dad 6 months with gramma. The rules say that you can claim a child that has lived with you for over 6 months, so what about a child that lives with both for 6 months each? who gets to claim?

Hi, help me please
Morgan and Maggie are married and have two dependent children. They also fully support Mary’s mother who lives with them and has no income. Their 2006 tax and other related information is as follows:
Total salaries 0,000
Bank account interest income 3,500
Municipal bond interest income 1,500
Value of employer provided medical insurance 3,500
Value of premiums for ,000 of group term life insurance provided by employer 0
Dividend income from ABC stock ,000
Loan from Morgan’s parents ,000
Gift from Morgan’s parents ,000
Gain from the sale of qualified small business stock held more than 5 years ,000
Total itemized deduction ,000
compute Morgan and Maggie’s taxable income

I posted this 1/21/08 under business/other/taxes..I didn’t received any answers. Please help if you know….

I had to hire an attorney to get my Social Security. She was paid if it was approved. I paid her, rather ,000. plus was deducted for her payment. The IRS says that was not deductible. So I paid taxes on the total back pay.
Is this right?
I also want to know if my medical insurance payment is deductible. I don’t have the 5 or 7500. that is required. My Medicare plus part D is 0, plus per month, also a group insurance is 0. plus. My co-pay for medicine is 0. plus every 3 month. When one of us is hospitalized, we have a copay.
My husband and I file jointly. I feel that some where there should be a deductible for us. Without the group insurance payment we would far exceed the amount to have deductions, and be totally broke.
We both have spinal problems. My spine is deteriating and we would like to be able to do something outside to make an easier access for me to get in and out of the house. We simply can’t afford to.
Do disabled retires have any deductibles?

I posted this 1/21/08 under business/other/taxes..I didn’t received any answers. Please help if you know….

I had to hire an attorney to get my Social Security. She was paid if it was approved. I paid her, rather ,000. plus was deducted for her payment. The IRS says that was not deductible. So I paid taxes on the total back pay.
Is this right?
I also want to know if my medical insurance payment is deductible. I don’t have the 5 or 7500. that is required. My Medicare plus part D is 0, plus per month, also a group insurance is 0. plus. My co-pay for medicine is 0. plus every 3 month. When one of us is hospitalized, we have a copay.
My husband and I file jointly. I feel that some where there should be a deductible for us. Without the group insurance payment we would far exceed the amount to have deductions, and be totally broke.
We both have spinal problems. My spine is deteriating and we would like to be able to do something outside to make an easier access for me to get in and out of the house. We simply can’t afford to.
Do disabled retires have any deductibles?

Gary Benton’s gross weekly salary is 1.00. His weekly federal withholding is .18. The Social Security tax is 6.2 percent of the first ,000.00. The Medicare tax is 1.45 percent of gross pay. The state tax is 1.5 percent of gross pay. Each week he pays .40 for medical insurance. What is Gary’s total deduction?

How do i figure this problem out.

Charlene Langhorst’s gross weekly salary is 0. Her federal withholding is 1.62. The Social Security tax is 6.2 percent of the first ,000. The Medicare tax is 1.45 percent of gross pay. The state tax is 1.5 percent of gross pay. Each week she pays .40 for medical insurance. What are her total deductions?

Thank you

Ok so im having some problems in my business math summer course,best answer for whoever gets the most correct.

ok here we go:

4.Chris Huen, an oceanographer, is paid 6.20 a week. His earnings to date this year total ,895.60. The social security tax rate is 6.2% of the first ,700 earned. How much is deducted from his paycheck this week for social security tax?
5.Sherry Reese, a technical writer for Ace Electronics, earns 3.08 a week. Her medical insurance costs 19 a year, of which her company pays 75% of the costs. How much is deducted each week from her paycheck for medical insurance?
6.John Jacobson, a title insurance officer, is married and claims 2 allowances. He earns 2.75 a week. The social security tax rate is 6.2% of the first ,700 earned. The medicare tax rate is 1.45% of gross. The state tax rate is .95 a week. He has weekly deductions of for medical insurance and for payroll savings.

I am currently a contractor and will file a schedule c with my taxes. Next summer I am going to quit my day job in order to home school my daughter. I will only be working part time but would like to purchase medical insurance and look into tax deductable options for medical expenses, something similar to a section 125 that employers offer. What do I need to do to get these kinds of deductions/options