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Do you have to pay taxes when receive money from homeowner insurance?
Wiki User
∙ 13y ago
Yes it is possible that you could have some taxable income when you receive a reimbursement from your homeowner insurance policy.
Wiki User
∙ 13y ago
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Do you have to pay taxes when you receive money from a life insurance claim?
If you are an individual who receives the life insurance proceeds, you may not have to pay any federal income taxes on the benefits. If the life insurance policy names a trust as beneficiary, the trust may be subject to estate taxes.
How can I reduce my personal taxes?
A great way to reduce your taxes is to have your company put you on a budget. What I mean by this is your company will draw up a budget for the money you receive each year. The money will be split into categories such as housing, insurance, etc. This will give you multiple tax brakes that you wouldn't normally receive.
Can you file taxes with the money you receive from welfare?
yes
If you receive money as a gift from your parents do you have to pay taxes on it?
No.
Why does the state government receive all of their money from the federal government?
The state governments do not receive all their money from the Federal government. The majority of their funds come from state income taxes, property taxes and sales taxes.
Who gets the money from a Joint life insurance if you die?
Not to be vague, but anybody or anything that is named as the beneficiary will receive the life insurance proceeds. This could be a person, a trust, a charity, or an institution. Typically, the money from a joint life insurance policy is intended to cover estate taxes, but doesn't have to be used for that purpose.
How did central government receive money?
other states
Money taken out of a salary for such things as taxes medical insurance and retirement funds are called?
Money taken out of a salary for such things as taxes, insurance, and retirement funds are called deductions.
Does the beneficiary of a life insurance policy have to pay taxes on the proceeds?
The answer to the question of whether or not beneficiaries have to pay taxes on the money received from life insurance policies is: no they will not have to.
When you file your taxes, you will receive a ________ if more money was withheld from your paycheck than you needed to pay in taxes?
Refund
How does the government receive funds?
The Government gets their money from all of us paying our taxes, such as carbon taxes.
How much money will I have to pay in taxes if I don't have insurance next year under Obamacare?
How much money a person has to pay in taxes if they don't have insurance depends on how much money they make and how big their family is. Obama Care will decide the amounts.
