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Cash, check. money order, electronic transfer, payment in goods or services, bartering, forgiveness of debt: none of it makes any difference. If your employer hands you a check, cash, a sack of magic beans. or forgives your grandfather's debt to his family, it is all taxable.
It makes no difference if you are paid under the table, over the table, on the table, next to the table, secretly, publicly, or any other way. Even if your employer is cheating on his taxes and not reporting your wages, it makes no difference. Even if you are engaged in some illegal activity, it makes no difference.
However you get paid, you have to pay your taxes.
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∙ 15y ago
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Are payroll taxes taken out of Ebitda?
No. EBITDA is a measure to simulate operating cash flow. If you have no earnings or profits you will not pay Income Taxes, but you are still required to pay payroll taxes and other taxes such as property and franchise taxes
How do you file taxes when you babysit for income?
instead of turning in a w2 you would have to state your income.if you're paid in cash or check with no deductions you will have to pay on taxes that were not withdrawn.
Do you have to file taxes paid on a 401k if you have no wages?
did you cash in the 401k? taxes would already be taken out if so. but you do have to do it again when tax season comes about. they won't make you pay more but you have to show it
How often do people pay their taxes?
Estimated taxes are paid quarterly.
Do you pay estate taxes on property left to you?
Generally the taxes are paid by the estate.
Is inherited cash taxable income?
No you do not pay any taxes on it but the estate may have already paid taxes if the estate is large enough
How do Amish get paid?
Amish are always paid cash and cash only. They do not have bank accounts and do not work for employers who pay via check because they do not complete any yearly taxes.
How long do you have to pay taxes on prize winning?
The taxes on prizes must be paid at the time you pay income tax for the year in which the prizes were awarded. If you have cash winnings, money is typically withheld from your winnings for taxes.
Are payroll taxes taken out of Ebitda?
No. EBITDA is a measure to simulate operating cash flow. If you have no earnings or profits you will not pay Income Taxes, but you are still required to pay payroll taxes and other taxes such as property and franchise taxes
How do you file taxes when you babysit for income?
instead of turning in a w2 you would have to state your income.if you're paid in cash or check with no deductions you will have to pay on taxes that were not withdrawn.
Do you have to pay taxes with oil change coupons?
Yes you will. If there is some state fee that has to be paid for the disposal of the oil, you will still in fact have to pay for that.
Do you have to pay taxes on cash received from welfare?
No
Can you still file taxes even though your employer didnt pay them but still took them out of your paycheck?
If you have a job you are legally required to file taxes. Your employer's responsibility is to take the taxes out of your paycheck and "pay the man," as it were. If your W-2s reflect taxes paid to the Gov't, you are in the clear - if you file.
How do you assess child support when mother is paid cash?
Whether she is paid cash or not there should be papers on how much she earns a month. She still have to pay taxes so her income should be no secret. And when she gets the money I would think she would have to sign a receipt. When in court she would have to show these papers. The child support is usually based on the income so cash or not there should be no difference.
Do you have to file taxes paid on a 401k if you have no wages?
did you cash in the 401k? taxes would already be taken out if so. but you do have to do it again when tax season comes about. they won't make you pay more but you have to show it
Can you draw unemployment from someone who paid you in cash?
Regardless whether the manner you were paid was by check, cash, etc., if the employer is paying unemployment taxes to the state, it's the state that would pay you. If you were being "paid under the table" and no record was maintained about your employment, then you could have difficulty.
You worked 36 years for the state of new york you moved to Texas in 2006 you just learn that you still have to pay federal taxes why?
if you have paid taxes for this long, how can you live on your 31.000 a year retirement check and still pay federal taxes every year?
