How much federal income tax is paid on $9600.00
First, you offset as much of the rental income as you can with deductions for interest, depreciation, utilities, etc. Whatever net income remains, you pay tax on as ordinary income (depending on your tax bracket).
If I retire and my income is $4500. a month, how much federal income tax will I pay?
The wealthy do pay income tax, and since the wealthy have more income, they must pay more money in income tax.
It is like 12K of any income to you....basically you will pay at YOUR average rate, whatever that is.
If it is a gift from you to her, and YOU paid for it, if a tax is applied, you will pay it.
You don't pay tax on the tax-free pay and you do pay tax on taxable income
No...not deductible..if a dependent or not. It's a gift....as such, much morte than that and YOU could owe gift tax.
all people pay income tax.
yes,he has to pay 30% of income tax ,, bhawna :P........ i m aayushi :P
What answer? I see no answer here!
from what amount do workers have to pay income tax
Could it be your income??
Too much, only billionaires should pay taxes. :-)
yes we have to pay tds and advace tax beside anual income tax
No such thing..no maximum on how much money you can make, no max on how much tax you can pay
No Federal income tax due on inheritance.
You pay tax on taxable income and you don't on tax free income
There is no average income tax rate in America; income tax rates are determined by how much you earn. For example, if your taxable income is below $8500, then you will only need to pay 10%, while if you earn above $38000, then you will need to pay 35%.
On a standar IRA, Yes (you didn't pay tax on the $ contributed or as it grew). On a Roth IRA, (where you paid the tax on the income before contribution), No.
He had to pay his income tax. My dad has to pay income taxes.
Of course we are. Everyone thinks they are taxed too much except for the almost 50% of people who pay no income tax. Income tax is not the only form of taxes that we pay though. We pay sales tax; gasoline and other fuels tax; liquor, beer and wine tax; telephone service tax; vehicle tax; etc. etc. etc.
Every1 in the world pays income tax Texas does not have a State income tax, collecting that same revenue using other tax means. You of course pay Federal income taxes.
No- churches and other tax-exempt charities do not pay income tax on the donations they are given. Church employees have to pay income tax on their salaries and the church must collect with-holding tax on these salaries.