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How much money can you give as a present before the receiver is taxed?
Wiki User
∙ 15y ago
The receiver won't get taxed, the giver will. On gifts that don't fit the exclusion which is generally $13,000 per year per giver per receiver.
Wiki User
∙ 15y ago
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How much money in gifts can I receive each year before being taxed?
The gift tax is on the one who gives, not the one who receives it.
Why do you get taxed?
because the government needs money
Do you pay taxes on 401k?
Generally, your contributions aren't taxed (put in before taxes), and your withdrawals are taxed.
Is money from a EEOC lawsuit taxable?
Yes-if you get a settlement from the EEOC it is taxable. If it is considered wages it is taxed at the rate your wages were taxed. If it is compensatory damages it is taxed at a lower rate but it cannot exceed 50% of the settlement.
Is a federal tax refund taxed?
No its not taxed. When you receive your refund, you will notice that their nothing withheld from your refund of any sort. You definitely do not have to report your refund to the IRS-its your money that you earned.
Do you get taxed on money saved?
Not taxed again on the after income tax money that you have saved but you are taxed on the earnings from the after income tax saved money.
Why was whiskey taxed?
money
Does a snooker player get taxed for a 147 break?
No, but a player will have his prize money taxed.
Can you take money out of a roth IRA before retirement age?
Yes, you can withdraw money any time from a Roth IRA, since it already has been taxed. However, after you withdraw the money, you can put back only the maximum contribution each year. The principle will not be taxed, but any interest you withdraw will be taxable before 591/2 years of age.
How much money in gifts can I receive each year before being taxed?
The gift tax is on the one who gives, not the one who receives it.
Are you taxed when you withdraw money from a mutual fund?
Yes you are taxed when withdrawing money from a mutual fund. Your current tax rate would apply.
Why do you get taxed?
because the government needs money
Is the money you get from the National mortgage settlement taxed?
yes
How did the government raise money for ww1?
taxed citizens
Do you pay taxes on 401k?
Generally, your contributions aren't taxed (put in before taxes), and your withdrawals are taxed.
Is business money taxed when earned outside of UK?
Yes, it is.
Why did the colonies resent being taxed by the British?
The colonists had never been taxed before. They felt that the British did nothing for them.
