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What else can I help you with?
Why are resources scarce?
There are unlimited wants for these resources, but there are only a limited amount of resources in this world. Therefore they are considered scarce.
How can night satellite imagery be used to determine differences in levels of economic development?
Night satellites show the amount of light used around the given area. People's income generally goes along with the amount of light someone uses. Low-income people use less light than higher-income people.
Why GDP equals aggregate expenditure and aggregate income?
GDP would be the amount of gross income a person or company receives. This would be the amount of income minus the amount of expenditure on things like bills.
Income not used for consumption is considered as what?
The income that is not used for consumption is called disposable income
Which is true regarding income patterns in America?
The amount of taxable income depends on income earned.
Is it considered income if someone pays your mortgage?
Yes, if someone pays your mortgage on your behalf, it is considered income for tax purposes.
Is a annuity check considered income?
An annuity check would be a part of your unearned income amount on your federal 1040 income tax return.
Is money that you loan to someone taxable?
A loan from a family member is considered taxable income. The borrower can deduct a certain amount of the interest paid. The lender will have to pay taxes on any interest earned.
Is a annuity check considered earned income?
An annuity check would be a part of your unearned income amount on your federal 1040 income tax return.
Are the penalties from a lawsuit taxable?
The penalties from a lawsuit is considered taxable income. The amount of tax depends on the amount of the settlement.
If you take cash value from a whole life policy do you have to claim the money as income?
If you take a loan against the policy, the amount you receive is not considered taxable. However, if you later surrender (cash-in) the policy, the amount you received in the loan and in the surrender will then be considered taxable income.
Are pension benefits considered income while on social security?
Yes, pension benefits are considered income when calculating Social Security benefits. Depending on the amount of pension received, it could potentially impact the amount of Social Security benefits you are eligible to receive.
Is any of this considered earned income if you and your wife live on social security income and a small pension benefit but no labor is performed?
No. Social Security and Pension income are not considered earned income for the purposed of the Earned Income Tax Credit. This is not to say that you will not have to file an income tax return and possibly pay taxes. Depending on the amount of income you have and your filing status, you may or may not have to file a return.
If someone moves in your house and you move out and they pay your mortgage is this considered income and do you have to pay taxes on it?
Yes you would have some rental income that you would be required to report on your income tax return.
Does 1099G box2 amount income?
Yes, the amount reported in Box 2 of Form 1099-G represents unemployment compensation that is considered taxable income. This means that if you received unemployment benefits during the tax year, you must report this amount on your tax return. It's important to include this income when calculating your total taxable income to avoid underreporting.
What amount of income is considered lower class?
30,000 dollars or less a year is considered lower class. However, in third world countries it would be considered a lot of money.
What earnings are considered low income in callifonia?
Low income is the total amount earned by a person. The state also uses the total number of household members to determine low income. One person earning 2000 a month in CA is not considered low income. I believe that a household of 4 has to be below 4,000 a month to be low income.
