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Yes, as it replaces earnings.
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∙ 11y ago
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If you get welfare from the state and no other income can you still do your taxes based on that?
Yes you can still file a 1040 federal income tax return but you would not have any reason to file one.
What are the effects of tax on in com distribution?
There are two types of tax that is related to income equality: Regressive tax: The tax as a percentage of your income decrease as your income rises. Example includes VAT (Value Added Tax) where the burden of the tax falls more heavily onb the poor than to the rich. Therefore it increases the income inequality. Progressive tax: The tax as a percentage of your income increases as your income rises. Example includes income tax where as your income rises, the tax percentage increases. Therefore, it creates more income equality.
If insurance pays more for a claim than it costs for repairs do you have to claim the additional payout as income for tax purposes?
That means that it is really stupid
What is the difference between income tax and service tax?
Income tax is the tax that is charged to your income that can be paid with the preparation of tax forms or is withheld from your paycheck. Service tax refers to the tax that is charged for services, like care repair.
Individual income tax rates are usually this of tax the higher the income the higher the tax rate?
Progressive
Is welfare tax free?
Welfare payments that you receive for assistance with your necessary living expenses form government sources or any other source would NOT be taxable income that you would report on your 1040 income tax return for income tax purposes.
Do loans count as income for tax purposes?
No, only that money which you earn or interest from investments count as income and it is only income that is taxed, not money that you borrow.
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.
Can welfare deduct income tax refund?
no
How agriculture income is treated for income tax purposes?
direct income
If you're on welfare can you file for taxes?
You can file a income tax return if you WANT to if the only worldwide income that you have is the welfare income amount. IF you do NOT have any other worldwide income to be reported on the 1040 federal income tax return you would NOT be required to file a 1040 federal income tax return.
Are state income tax payments deductible on a corporate tax return?
Yes. State income (and net worth based) taxes are deductible from taxable income for Federal income tax purposes.
Is state pension unearned income for tax purposes?
Yes, state pension is considered unearned income for tax purposes. It is subject to federal income tax, but may not be subject to Social Security and Medicare taxes. State tax laws may vary on how state pension income is treated for tax purposes.
Is your income tax return qualify as income?
In the U.S., your federal income tax refund does not count as taxable income for the next year. If you receive a refund from your state, and you itemized your deductions on the federal return, then the state refund will count as income on your federal return. (If you didn't itemize, then your state refund won't count as income.)
Is sales tax deductable?
Gas tax is an excise tax not a sales tax. It is therefore not deductible for federal income tax purposes.
What has the author Wayne Lee Hoffman written?
Wayne Lee. Hoffman has written: 'Work incentives and implicit tax rates in the Carter welfare reform plan, with a comparison to current policy' -- subject(s): Taxation, Welfare recipients 'The earned income tax credit, welfare reform or tax relief?' -- subject(s): Earned income tax credit
Is Gas sales tax deductible?
Gas tax is an excise tax not a sales tax. It is therefore not deductible for federal income tax purposes.
