Results 1 to 4 of 4

Thread: Turbo Tax but I'm claimed?

  1. #1
    Featured Member Lady Xplicit18's Avatar
    Joined
    Mar 2008
    Location
    USA
    Posts
    972
    Thanks
    350
    Thanked 454 Times in 207 Posts
    Blog Entries
    1
    My Mood
    Inspired

    Default Turbo Tax but I'm claimed?

    I'm filing my first quarterly taxes right now on Turbo Tax and was wondering:

    What package do I go under? How do I apply my receipts on here? Is an accountant better?

    &

    My mom claims me on her taxes evne though I don't live with her so is it still necessary for me to file?
    "Strippers are like pet tigers. They are nice to look at but they are not for everyone."

  2. #2
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Turbo Tax but I'm claimed?

    TurboTax for Home and Business provides the features to file Schedule C 'Profit or Loss from a Business' that you will need. But an accountant is ALWAYS better than a tax prep program.

    Whether or not you are claimed as a dependent on your mother's tax return doesn't affect the legal requirement that an independent contractor must file a tax return if total annual earnings exceed $600. It will however affect the amount of taxes owed, since the exemptions and exclusions claimed by your mother cannot be claimed a second time for yourself.

    !
    Last edited by Melonie; 11-15-2011 at 12:30 AM.

  3. #3
    Featured Member Lady Xplicit18's Avatar
    Joined
    Mar 2008
    Location
    USA
    Posts
    972
    Thanks
    350
    Thanked 454 Times in 207 Posts
    Blog Entries
    1
    My Mood
    Inspired

    Default Re: Turbo Tax but I'm claimed?

    That's weird; I asked my mother's accountant about me being a dancer, he said if my annual income exceeds $9,000 a year I would have needed to file last year (which I made under for being on and off). Do I need to see another accountant?
    "Strippers are like pet tigers. They are nice to look at but they are not for everyone."

  4. #4
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Turbo Tax but I'm claimed?

    ^^^ the $9000 figure would apply if you are treated as an 'employee' by the club ... i.e. tipped minimum wage paychecks with taxes withheld. If you are an 'independent contractor business', the reporting minimum is $600

Similar Threads

  1. Turbo Tax/Other E-tax or Accountant?
    By sammii in forum Camming Connection
    Replies: 16
    Last Post: 10-14-2011, 07:54 PM
  2. Turbo tax help
    By Starfire in forum Dollar Den
    Replies: 2
    Last Post: 04-12-2008, 12:19 AM
  3. another turbo-tax question
    By Picaresque in forum Dollar Den
    Replies: 15
    Last Post: 03-30-2007, 10:05 PM
  4. Monetary Gift and Turbo Tax
    By velour1141 in forum Dollar Den
    Replies: 2
    Last Post: 02-21-2007, 01:09 PM
  5. best version of turbo tax?
    By mina loy in forum Dollar Den
    Replies: 2
    Last Post: 02-11-2007, 09:34 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •