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Does selling old furniture count as income and do you have to pay income taxes on it?
Wiki User
∙ 11y ago
yes
Wiki User
∙ 11y ago
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Does income tax includes spouse?
Yes income tax includes spouses, that is how your suppose to do your taxes. Unless you are not married it doesn't count that way. but since you are married yes it does.
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.
Do you pay taxes when selling an asset?
Yes you do if you owe any capital gains tax on the sale of the asset after your income tax return is completed correctly and IF you owe any taxes on gain.
Define earned income taxes and personal income taxes?
An individual taxpayer using the 1040 federal income tax return earned income worked for income and the related income taxes and the personal income taxes would be the same thing on the 1040 income tax return.
Are federal income taxes deductible for federal corporate income taxes?
No, they are not.
Does selling a vehicle you were given as a result of the death of a family member count as income that you must pay taxes on?
Yes this is very possible because it is the sale of a capital asset.
Does state aid count as income for taxes?
State aid would not be taxable income that you would report on your income tax return.
How do you calculate selling gross?
The Sales Gross is the total mount of income for the selling of a product(s) or services before taxes
Do federal student loans count as income for tax purposes?
No. Student loans are borrowed money, and is not considered "income;" therefore, you do not include them on your taxes.
How does New Jersey make money?
New Jersey receives its income from taxes, assessments, etc. on the selling of cash crops, business licenses, factories, etc.
What taxes are higher corporate or income taxes?
income taxes
What if your daughter had a baby should she file taxes?
If your daughter had a baby, then that baby will count as a dependent for the purpose of her income tax, but she still has to have an income before she needs to file an income tax return.
Is the sale of a company's assets taxable for city income taxes to the business selling the assets?
Depends on the city's tax code.
Does income tax includes spouse?
Yes income tax includes spouses, that is how your suppose to do your taxes. Unless you are not married it doesn't count that way. but since you are married yes it does.
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.
How do you avoid paying capitol gains tax when selling a rental house in Canada?
You will have to complete your income tax return correctly and pay any income taxes that may be due when the income tax return is completed.
Do you pay taxes when selling an asset?
Yes you do if you owe any capital gains tax on the sale of the asset after your income tax return is completed correctly and IF you owe any taxes on gain.
