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Is ther income tax on life insurance payment?

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Are income tax payments deductible?

State income tax payments are deductible on your federal income tax return. (You may deduct state income tax or sales tax, but not both.) Federal income tax payments are ded

How do you calculate income tax payment?

Complete the forms that are required for whatever tax your speaking of, all have instructions, frequently in booklets and more than one. The tax is calculated on the form. 

Do insurance companies pay income taxes?

  Yes, and a whole lot of it.   The way there income is determined is a specialized field of tax and not like most other Cos that have a tangible product.

Rental payment income and imputed tax?

When you are able to itemize your deductions using the schedule A of the 1040 tax form and you deduct the mortgage interest to help reduce your income taxes you have a type of

Do you have to pay income tax on an automobile insurance payment?

It depends on the state and how your insurance company is filed. Some states like KY have to pay tax depending on where you live, it is calculated as a percentage and added in

If lease is discounted for one time payment can that income be amortized for tax purposes over life of lease?

This will depend on your accounting method that you use. If you area cash basis business, then it is recognized when lease paymentsare received. If accrual, you could justify

Life insurance as percentage of income?

That really depends on who you ask. I would say leave enough for funeral, pay about half of your kids college, pay off your mortgagr and 2 years of your income. Your funeral s