Divorce Source: Any tax professionals on here?

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Divorce Source Community Forums >> Tax Issues

Gecko
Carpal \'Tunnel

Reged: 06/01/04
Posts: 19803
Loc: Third rock from the sun

Re: Any tax professionals on here?

02/03/07 12:57 AM

I see it as entirely different because I never saw the money.

---> Fine...then when you get audited by the IRS and end up with penalities and interest for NOT reporting the money as income...do NOT come crying to me.

And gee whiz IRS will get paid income tax twice on the same money.

---> They get more than just twice. You get a $400 paycheck...not only is it "income" for you...it comes FROM the "income" (say $1,000) the company you worked for...and they will be taxed. Then you turn around and spend $200 for rent, $75 for utilities and $50 for food. ALL of that is "income" for someone else...will pay taxes on it and who will pay THEIR employers who will ALSO pay taxes on it.

Even alimony is a direct credit on the payors tax

---> Yes it is...AFTER it is reported as income.

---> FIRST you take ALL your income (lines 7 through 21) and enter it on line 22 for TOTAL INCOME. Then on line 31a, you would enter the amount of alimony paid and THEN it gets SUBTRACTED.

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If you air your dirty linen in public, expect people to comment on the skid marks!

Post Extras

Entire topic
Subject	Posted by	Posted on
Any tax professionals on here?	jaiye	02/02/07 05:50 PM
Re: Any tax professionals on here?	Gecko	02/02/07 07:18 PM
Re: Any tax professionals on here?	jaiye	02/02/07 08:51 PM
Re: Any tax professionals on here?	Gecko	02/03/07 12:57 AM
Re: Any tax professionals on here?	AnneB	02/02/07 09:00 PM

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