What is taxable income for the year?
828223
This is to much calculating for me to do in my head so I'll help a little bit.  The vacation home is going to be used "primarily personal" since you did not rent it for more than fifteen days(if I'm wrong its a fourteen day limitation, in which case its a mixed use home) , and you used it for 56 days.  So the income from the home is excludible.  However, if its a fourteen day limitation the home is mixed use, and you would need to allocate income, and expenses as business/personal.  With the IRS method you calculate interest and taxes based on total days used, in this case 71 days.  So the amount of interest and taxes deductible FROM rental income would be 14/56 x 5800.  Keep in mind thats only if its a fourteen day limitation.  I'm pretty darn sure its a 15 day limitation so most likely this vacation home income is excludible.  I would have to look up the number, but I'm to lazy right now. Good luck on your test.
447828
I would need a lot more information (and to do some research) before answering your question in full, but one thing you should check is the box labeled 2a (on your 1099-R) - Taxable amount.  If there is a number other than zero in that box, then the institution thinks that amount is taxable income to you.  If there is nothing in box 2a but box 2b is checked, then you may still have taxable income.  Depending upon when the distribution was made, you may still have time to cure any tax problems, but you need to get yourself to a qualified advisor.  Don't assume anything!
270286
The average income for taxpaying Americans over 14 years of age is about $32,000 a year.  The average Household has an income of about $36,000 a year.
577406
You should pay some estimate so you don't get penalized.  If your tax liability is not within 15% of what you paid in throughout the year you'll be liable for penalties.
527336
Yes, it's ordinary income. See below, from IRS Publication 523, page 4\n\nOption to buy.   If you grant an option to buy your home and the option is exercised, add the amount you receive for the option to the selling price of your home. If the option is not exercised, you must report the amount as ordinary income in the year the option expires. Report this amount on Form 1040, line 21.
1165916
Just under 50%.\n\nGood guide is to look up info on 'tax freedom day'.  In 2006 every penny you earn from 1 January until 3 June goes to pay your tax.  Only the rest is yours to keep (based on all taxes and 'average' UK taxpayer).\n\nSee http://www.adamsmith.org/tax/
107354
Regarding the IRS, it depends on a lot of things. Remember gross income is income from whatever source derived, not if it is a certain dollar amount... Is it business or personal? Did you sell for more than what you bought it for? If you did, you need to look into the reporting requirements.
392695
It depends on where you live.  Go to www.irs.gov for the answer.
572387
Your taxable income will vary with deductions. \nThen you will pay provincial and federal personal income tax (if you are working for somebody else).\n\n\nFederal tax rates for 2006 are:\n\n15% on the first $36,378 of taxable income;\n22% on the next $36,378 of taxable income;\n26% on the next $45,529 of taxable income; and\n29% of taxable income over $118,285.\n\nProvincial / Territorial tax rates (combined chart) Provinces / Territories Rate(s)\nNewfoundland and Labrador 10.57% on the first $29,590 of taxable income, +\n16.16% on the next $29,590, +\n18.02% on the amount over $59,180\nPrince Edward Island 9.8% on the first $30,754 of taxable income, +\n13.8% on the next $30,755, +\n16.7% on the amount over $61,509\nNova Scotia 8.79% on the first $29,590 of taxable income, +\n14.95% on the next $29,590, +\n16.67% on the next $33,820 +\n17.5% on the amount over $93,000\nNew Brunswick 9.68% on the first $33,450 of taxable income, +\n14.82% on the next $33,452, +\n16.52% on the next $41,866, +\n17.84% on the amount over $108,768\nOntario 6.05% on the first $34,758 of taxable income, +\n9.15% on the next $34,759, +\n11.16% on the amount over $69,517\nManitoba 10.9% on the first $30,544 of taxable income, +\n13.5% on the next $34,456, +\n17.4% on the amount over $65,000\nSaskatchewan 11% on the first $37,579 of taxable income, +\n13% on the next $69,788, +\n15% on the amount over $107,367\nAlberta 10% of taxable income\nBritish Columbia 6.05% on the first $33,755 of taxable income, +\n9.15% on the next $33,756, +\n11.7% on the next $10,000, +\n13.7% on the next $16,610, +\n14.7% on the amount over $94,121\nYukon 7.04% on the first $36,378 of taxable income, +\n9.68% on the next $36,378, +\n11.44% on the next $45,529, +\n12.76% on the amount over $118,285\nNorthwest Territories 5.9% on the first $34,555 of taxable income, +\n8.6% on the next $34,555, +\n12.2% on the next $43,248, +\n14.05% on the amount over $112,358\nNunavut 4% on the first $36,378 of taxable income, +\n7% on the next $36,378, +\n9% on the next $45,529, +\n11.5% on the amount over $118,285
133182
That sounds like a state refund you got last year.\nIn California, if you got a state refund in 2004 you must report it as income in your federal income tax for 2005.\nThere are exemptions like if you itemized last year and you don't this year.\nConsult your tax professional.
547947
A good question.  Get IRS Publication 17.  An individual can give you up to $11,000.00 in a year and there is no tax implication on that amount.  The amount you can receive in a lifetime keeps changing; it used to be 300,000 but has changed.  It is now set at $345,800.00 for the year against a lifetime credit of one million dollars.
170339
All money we receive is taxable if you find a way out of it let us all know. Peace out!!!
849494
Only good income tax practetioners can answer your question correctly. No income tax practerioner will answer your question because it involves lot of time to calculate and answer. That too you are asking it for the F.Y 2004-05. Again your financial year end is 30th June.\n\nBest of luck
574662
depends on the income. Subtract deductions, contribution to IRA/401K etc. and see what the net income is. Then look at the tax tables to determine the federal tax
1132239
this all depends if you are a resident of australia, but if i have done this right the link will take you to the australian tax office go to the SIMPLE TAX CALCULATOR section or by searching look for something on income tax rates, good luck Be Good!!
31026
Your filing status is based on what it was on Dec. 31.  If by 'this year' you mean 2005, you're single or head of household;  if you mean 2006, you're either head of household, or married filing jointly or separately
527186
2005 Individual Income Tax Schedule can be found here:\n\nhttp://www.irs.gov/formspubs/article/0,,id=133517,00.html