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Can a debt collector for a cell phone company take your income taxes?
Wiki User
∙ 12y ago
No. Only the government can take your taxes, but a debt collector can get a court judgment against you and take your pay check.
Wiki User
∙ 12y ago
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What is income taxes recoverable?
Recoverable income tax comprises income tax withheld on financial investments and is available to be offset against other similar income taxes payable. The Company and its operating subsidiaries offset recoverable income taxes against liabilities related to payroll tax withheld from employees.
How much does small businesses pay yearly in taxes?
There is no possible correct answer to this. Many taxes are paid based on income..."taxable income" specifically which varies from book income in many ways...and income is obvioulsly different for every company and every year. The expenses and how and when they are incurred in running the company are also a factor, as is which line of business and location it is in for determining which taxes are even applicable.
You earned 50.00 from one company do you have to claim it on your taxes?
The answer to this question is yes. All income is to be reported on your tax return. The company who paid you is only required to send you a 1099 form if your income is above $600 but even if you don't get a 1099, that does not relieve you from your requirement to report all income and to pay taxes on this income.
How can you calculate net interest income to be zero?
To calculate net interest income to be zero you will have to follow a few steps. First you will need to subtract the company net income from the EBIT to find the interest and taxes for the year, step two is add all taxes the company during the year and find the total taxes paid and the final step is subtract the companyÕs total taxes from the interest.
What taxes are higher corporate or income taxes?
income taxes
Why would a company overstate its expense and understate its net income?
Simply to avoid taxes
What is the meaning of legal personality in regards to who is responsible for income tax?
Taxation falls on individuals,but legal personality extends to companies: If you start a company and that company has income than that company is liable for taxes
Does QuickBooks include a program for preparing and submitting an individual's income taxes?
QuickBooks does include a program for preparing income taxes for a company but not for individuals. Consider Tax Cut Pro for that capability.
What is the difference between operating income and net revenue?
operating income refers to "net" profits. The amount of money a company has after all overhead and taxes. Revenue is the sales for a company from goods sold or "gross income.
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.
What is income before tax?
Its a generally used "sub total" in preparing an income statement, normally for a business. It is the net earnings (income minus expenses) before considering the expense of income tax. In many ways, what the company made. also the point that the income tax calculation is tarted from (as income taxes are not a deduction for income taxes).
Do you earn interest on your income tax trust?
It looks to me like you will actually pay income taxes on a trust fund, not earn interest. However, I would consult a reputable CPA, since you definitely don't want to skip paying taxes, as the IRS is a formidable debt collector.
