Yes
Yes, interest income is taxable.
Yes. You must pay income tax on all earned income.
Taxes on income earned in the US is the same for all wage earners.
Sure you do still pay your share of the FICA (social security and medicare) (OASDI) taxes on your earned income as long as you are providing your services to earn the income and are still breathing.
You will pay income taxes on all income, including fees your earned. You would not pay inheritance tax on that amount. It would be a good idea to consult a probate attorney in your state.
Yes, individuals in prison are still required to pay federal income taxes on any income earned while incarcerated. However, they may not have access to certain deductions or credits available to those outside of prison.
All business operations pay taxes of all kinds plus income taxes on the net profit from the business operation.
No. FICA taxes (Social Security, Medicare, etc) are only paid on earned income.
No. You only pay FICA taxes on earned income (wages, salary); paying on Social Security benefits would amount to paying the same tax twice.
Technically, yes. All income earned must have federal income taxes paid. State income taxes may also be owed. Fortunately, a minor's income tax rate is usually 15%.
Monaco doesn't pay income taxes
Net income is you income before taxes. To calculate take your pay before taxes(which is your gross income) and subtract it by the amount of taxes you have paid.i.eYou earned $200.00taxes paid -$ 50.00Net Income $150.00