Well, it depends on their tax bracket which changes from person to person...but $750 is a good guess. Think you cost more than that?
Exemption amount for each ones exemption on the 1040 federal income tax return for the tax year 2009 was 3650 for each qualifying dependent.
I won a lottery ticket in Wisconsin, worth $10,000, how much federal and state tax will be taken out?
1,000
For taxpayer using the single filing status the 2009 exemption amount is 3650 and the standard deduction amount is 5750 for a total amount of 9350 free of federal income tax for the tax year 2009.
3700
Whether or not you pay income tax after the age of 65 depends on your individual circumstances, such as your sources of income and the amount. Some retiree income, like Social Security benefits, may be taxed at the federal level based on your overall income level. It is best to consult with a tax professional or the IRS for personalized advice.
It's not a question of losing the land. It's a question of whether you are entitled to a homestead exemption. Most states do not recognize a camper as the basis for a homestead. Check your state law to see what it allows for homestead and for state exemption and if you have a choice of federal or state exemptions. Then the problemn is how much the land is worth vs. how much the exemption is.
Why on Earth would you want to waive it?You can choose to use the federal exemption instead, but you don't get to pick and choose, you have to take either all state exemptions or all federal exemptions. The federal homestead exemption is (much) lower, but I suppose that it might be possible that you could make up the difference in other exemptions.
Exemption amount for each ones exemption on the 1040 federal income tax return for the tax year 2009 was 3650 for each qualifying dependent.
For a qualifying child dependency exemption the amount is 3650 for each exemption for the year 2009
Enough to retire his parents.
Received no money directly.
Maybe. If your parents are living in the house and you're not, you may be considered to have only an equitable interest, especially if there is not much equity in the house. If you live in the house with your parents, you may be enttiled to a homestead exemption, but this can be tricky. Talk to an experienced bankruptcy lawyer.
It depends on how much you want it. Ask your parents if its worth it.
An A series in avg.condition is worth around $12.50.
It depends on what series it is and which federal bank is on it. Rest assured it will always be worth $10.
I am not sure if this is true but my friends and my parents said William Allyn is worth about 50 pounds.