Asked in Real Estate
At what dollar amount does estate taxes come into play?
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Asked in Probate, Debt Responsibility
If a deceased paid no business or personal taxes will that come up in probate?
Asked in Law & Legal Issues
Are adult children responsible for paying deceased parents taxes?
The taxes of a deceased person would be the responsibility of that person's estate. If the children are the administrators/executors of the the estate, then they would be responsible for filing the taxes on behalf of the deceased; but the payment would come out of estate funds, not from the children personally.
How do employers compute fica taxes for the pay period for 6200.00?
Gross earning that would be subject to FICA 6200 multiplied by 15.3%. That total dollar amount is then divided by 2 and 1/2 of that amount will be withheld from your gross earnings the other 1/2 amount will be paid by your employer to come up with the total 15.3% amount that will be remitted to the the SSA for your social security benefits amount. Each pays 7.65 % of the 15.3 % amount of 948.60. Each would be subject to 474.30 of FICA taxes.
If named as a beneficiary along with a dollar amount on a small estate affidavit where or who does the distribution come from?
Answer I am not an attorney, but I recently visited one and was told that if they are responsible for handling all my business after I passed, they would charge a percent of what I'm leaving for their fees and then they will distribute the rest to the beneficiaries that I have listed. The person who has been appointed executor or executrix of the estate is responsible for distribution of any remaining assets after all debts and taxes of the deceased have been satisfied according to state probate law.
A home was willed and left to you and 2 other beneficiaries and needs to be appraised to determine inheritance taxes who by NJ law is required to perform this appraisal?
What happens when a company don't take the right amount of taxes out of your check and in so you owe the federal money?
Asked in French Revolution
Why was the estates general not democratic?
heigh ho, here we go again. First Estate the Clergy - Bishops and Priests. between 5 and 10 percent of the population. Generally exempt from taxes, and entitled to collect a few taxes of their own. second Estate, the Nobility, about 10 percent of the population. Exempt from certain taxes, and to a limited extent beneficiaries of taxes and privileges themselves. Third Estate, everybody else. Over 80 percent of the population, paid all the taxes, no privileges at all. Voting was by ESTATE, not by head. One Estate, one vote. So the first two (less than 20 percent) could always outvote the Third (80%). democratic? I don't think so. Especially, come to think of it, as women had no vote, so we ought to halve those percentages!
Asked in British Coins
What would an 1897 british 20 dollar coin amount to in US currency?
Which figure on your last paystub goes on your w-2 form the gross ytd or net ytd earnings?
Asked in Estates
What does the executor need to start settling the estate?
A complete inventory of the estate. Valuation of the inventory. Complete listing of claims against the estate. If the estate is clearly larger than the claims against it, there is no issue with resolving the claims as they come forward. However, if there is not enough to resolve all debts, the estate has to present a plan to the court showing how much each of the debtor's is to receive, usually some number of cents on the dollar.
Asked in Taxes and Tax Preparation, Income Taxes
What is the difference between income taxes and state taxes?
Income taxes are taxes paid based on the amount of your wages and other forms of income, including but not limited to investment income, pensions, interest and dividend income, business income, rental income, etc. Income taxes are assessed by and paid to the federal government and, depending on where you live, also state and local governments. State taxes can come in many forms, including not only income taxes, but also property taxes, sales taxes, use taxes, excise taxes, business taxes, etc.
Asked in Income Taxes, Taxes and Tax Preparation
Who pays unpaid taxes after a death?
To be clear, before anybody can inherit property from the deceased the following have to be settled in this order: 1) Taxes due must be payed 2) Debts must be settled 3) Whats left gets to be distributed an accordance with the will to the heirs. Note the deceased's Executor is responsible for doing all this (the executor may also be an heir). Also NOTE that unpaid taxes and debts come out of the ESTATE. If the estate runs out of money to do this, potential heirs do not have to pay the deceased's taxes or debts out of their own money. However, they will not inherit anything in these circumstances.
Asked in Math and Arithmetic
Does the negative sign come before or after the dollar sign?
Asked in 401k and 403b Plans
When you file your taxes does the amount you contributed to your 401k plan come off your gross amount for the year?
Asked in Income Taxes, Tax Refunds
How long does it take for back taxes to come in the mail from Revenue Canada?