Archive for the 'United States' Category

Can I deduct ongoing finance charges for business expense?

Tuesday, July 22nd, 2008
finance
Jan R asked:


Can I deduct on Schedule C in one year the finance charges that occurred in that year from business expenses made in earlier years? For instance, I am still paying finance charges on unpaid credit card charges for large business expenses from several years ago. Can I report those finance charges as interest paid for the current year? Thanks!

What differentiates a Fed-member bank from a state chartered bank?

Sunday, June 22nd, 2008
bank
Michael A asked:


Are there specific benefits to a bank being a Fed-member bank?

Can I use bank statements as proof of purchase for my taxes?

Saturday, June 21st, 2008
bank
Sarah12345 asked:


I charge everything with my debt or credit card. Because of this, I am horrible with receipts but I keep all my bank statements. I plan to file my taxes soon. Can I use my bank statements as proof of payment for medical bills/other deductions I qualify for? It clearly states the hospitals name on the bank statment.

What is the retention period for keeping bank and tax records?

Saturday, June 21st, 2008
bank
Michelle asked:


I would prefer a tax person or bank person answer this question. Do I need to keep tax records after 3, 4 or 7 years or can I shred them after the retention period?

Same with bank records - 3, 4, or 7 years?

Thanks.

I closed my bank account that my tax refund went in. Is there a way of changing the direct deposit in a new1?

Friday, June 20th, 2008
bank
scola asked:


I had to close my bank account that my tax refund was direct deposited into. I wanted to know if there was a way to contact or change my direct deposit so it goes into my current bank account instead of the closed one or it being sent by mail.

How can I get my money back if bank lost my endorsed tax refund?

Friday, June 20th, 2008
bank
J.T. asked:


My bank did not clear my endorsed federal tax refund after I made ATM deposit. Bank claimed it had missing endorsement and it was mailed back. But, I never received it. I also contacted IRS and was told IRS will not re-issue a check if it was cashed out already. Should I file at small claims court to get my money back from the bank??

I have changed bank accounts since I had my tax refund direct deposited. How do I change my bank account info

Friday, June 20th, 2008
bank
dayzigrl asked:


My rebate is going to be deposited into a closed account. I need to change my bank account info with the IRS>

How do I report bank interest on part-year resident forms?

Thursday, June 19th, 2008
bank
Kim D asked:


I moved from NY to CA in 09/2006. My question is about how to report bank interest income on the state income tax forms. Do I need to determine how much interest was earned from my bank accounts during the period when I lived in each state? I imagine that the interest income needs to be reported somewhere. Do I need to use my statements to figure out exactly how much was earned in each location?

can a bank that you have had an account at for years put a 10 day hold on a government issued check?

Tuesday, June 17th, 2008
bank
j.brugato asked:


I went into my credit union that I have had an account with for years (about 10) and this is the only bank that I bank with. Well, I attempted to cash my federal tax return, and they put a 10 day hold on it!!! Can they do this with a government check?

Are payments deposited in the US bank account of a NRA freelance translator subject to tax withholding?

Monday, June 16th, 2008
bank
Ricardo Ricci asked:


I am a non-resident alien freelance translator residing in Italy. Do the US translation agencies that provide my work have to withhold taxes on my earnings when they deposit my earnings on my US Bank account? I am not the spouse on a US citizen. I have no children born in the US.


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