Sunday, 25 September 2011

How do I form a non-profit scholarship organization in California?

How do I form a non-profit scholarship organization in California?

She can only be claimed as a dependent by one person. I am not sure of the domestic partner rule in your state. Maybe only her father can claim her anyway.

by tko43078

Based on the income levels you provided it would seem that it would be more beneficial for you to claim her than her dad.

I'm not sure what you mean about the $ 3+K 'worth of insurance' but as long as her income was below $ 3,300 (the amount of an exemption) than you can claim her as a dependent as long as no one else claims her, including herself.

If you made $ 80K as a singe person that would place you in the 28% bracket or maybe the 25% bracket depending on your exemptions. Her dad is any in the 25% bracket or maybe the 15% bracket depending also on exemptions and/or itemized deductions.

As long as he's in the 15% bracket it makes some significance for you to claim your girlfriend because it would save you about $ 400 (combining the fed and state benefits) versus her dad but if he is in the 25% bracket (taxable income is over $ 30,650) than he is only paying 3 percentage points less than you on his top dollars so it would not be worth much hassle to save a few dollars in that case.

Below are the brackets for a single taxpayer in 2006:

$ 0 – $ 7,550 10% of the amount over $ 0
$ 7,550 – $ 30,650 $ 755 plus 15% of the amount over 7,550
$ 30,650- $ 74,200 $ 4,220.00 plus 25% of the amount over 30,650
$ 74,200 – $ 154,800 $ 15,107.50 plus 28% of the amount over 74,200

by Nick, CPA

She can only be claimed by one person. But if you paid for more than half of her expenses in the year 2006, YOU should be the one claiming her. If not, it's sort of up for grabs. That's not much. Maybe it helps a small though.

But if her dad is not paying for a reasonable amount of her expenses, and you are… then it's a small messed up to have him claiming her instead of you.

by Holly

Her father would have the right to claim her especially if she's a college student.

Dependency test: Age 19-23 and a full student meets the exception that allows a parent to claim their child as a dependent Not someone else who is Not related to her, In any case of income!

Check the 1040 instructions at www.irs.gov for claiming dependents.

Where you live is Irrelevant!

What is relevant is her father and her situation not yours.

by MrMojo1

Originally posted here:
How do I form a non-profit scholarship organization in California?

No comments:

Post a Comment