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if it is strictly considered a reimbursement for using your vehicle for business use then you will not be responsible to pay taxes or even report this as income. If however, it exceeds the cost of using your vehicle for business then you will have to report this as income. For this reason you need to keep a log just like you would for deducting unreimbursed business expenses. This would be necessary in case your return was ever examined by the IRS so that you could show that through mileage or actual expenses you were reimbursed less than you would have been able to deduct if you itemized expenses. Do not take a deduction on form 2106 and receive an allowance.
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If you live in Indiana and buy a car in New York will you have to pay sales tax in Indiana?
You will pay Indiana sales tax (7%).
What is the Federal mileage allowance for car travel to and from medical appointments What is the Federal allowance for volunteer work?
What is the federal mileage allowance for car travel to work with non-profit organizations? What if I am a for-profit busiiness hired to work for a non-profit? Do they pay the non-profit rate or the business rate? 20
How much money can you gift tax-free to your son or daughter each year?
You can give $13,000 in 2009 (the number changes most years) without having to report it or file a gift tax return. If you give more than that, you have to file a gift tax return. The excess over $13,000 is subtracted from both your lifetime gift tax allowance and from your estate tax allowance. Once your $1 million lifetime gift tax allowance is used up, you have to start paying gift taxes. Once your estate tax allowance is used up, after your death your estate will have to pay estate taxes. Note that tuition paid directly to an educational institution or medical bills paid directly to a medical services provider on behalf of your child (or anyone else) do not count. You can pay as much of either of those as you want and it will not count against your annual or lifetime limits.
Retiring age 62 2018 Jan how much can i earn?
That depends on your income. If your total income (state pension plus wage) is less than the single person's tax allowance - you'll pay no tax. If your wage takes you over the current tax allowances - you'll pay tax on the WHOLE amount (including your pension) !
Do you have to pay tax on allowances in Australia?
If you receive an allowance from your employee it does have to be included as income on your tax return which means that yes you have to pay taxes on it BUT many allowances you can claim back as a deduction so in fact they cancel each other out so no tax will be paid on that amount. It really depends on what your occupation is and what the allowance is that you are getting. (And whether it is actually a fringe benefit you are getting not an allowance). Additional Info: Not all allowances need to be included on your PAYG Payment Summary which means you do not need to put them on your tax return therefore do not pay tax on them (and you are also not allowed to claim a deduction against them) "Bona fide allowances" such as travel and meal are ones that must be included on your PAYG payment summary and you can also claim back the actual expenses incurred on your travel/ meal upto the ATO limit without substantiation, so sometimes you actually have a bigger claim than the amount of allowance you added as income so you will get a refund amount back.
What is personal import tax allowance?
Import tax is the government tax you must pay on goods imported into your country from outside of your economic area. Import tax allowance is the limit of the value of items you can import without having to pay any import tax. This means that low value items can be imported tax-free. The import tax allowance varies from country to country
Do you pay more tax with tax codes 647l or 603l?
The number part is your tax free allowance - ie £6470http://www.hmrc.gov.uk/incometax/codes-basics.htmI'm guessing 603L was last years allowance. So you should pay slightly less tax on 647L
Do you have to pay the car tax if you sold your car?
Buyer pays tax.
Do you have to pay state tax in New Jersey buying a car from an individual?
Yes, you pay tax, but not to the individual unless he has a dealer's license. Normally you will pay the tax when you register the car in your name. They will ask how much you paid for the car and the tax is based on that.
Do you have to pay sales tax if you buy out a lease car?
Yes, you do have to pay sales tax - it's like purchasing a second hand car. You still pay sales tax
Do you pay coucil tax when your on jobseekers allowance?
Yes - unless you receive other benefits as well as JSA.
Do you pay tax if you live in the Republic of Ireland but buy a car in England?
If you are bringing the car back to Ireland then you will have to pay tax on it.
Do used car dealers pay sales tax and license when they buy wholesale?
They are a reseller and do not pay tax when they purchase a car.
Do i have to pay sales tax if I buy a car out of state?
You pay the sales tax for the state in which you're going to register your car.
What tax do you pay if you buy a car in PA and live in NJ?
You pay NJ tax.
Do you pay sales tax when purchasing a used car in Minnesota when the car is being shipped to Kentucky?
YES ... You must pay the tax's from were the car was brought from ...
Do you have to pay sale tax on a car the you still owe and the bank still has the title?
Yes, you have to pay the sales tax when you license the car.
