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The highest marginal tax rate at this time is 35% X 385000 = 134750
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∙ 13y ago
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How much money do taxes take after you win 1 million dollars?
It really depends where you live, there's a state tax and a federal tax, some state taxes are higher than the others, but on average they might take almost half :/
If you win 121 million dollars in the lotto how much would you get after taxes?
61-63 million ... Roughly federal and state taxes would come out to take around half... You typically take alittle more than half the winnings if you choose "lump sum" option
How much do income tax lawyers get paid?
Most tax lawyers get a percentage of whatever you have gotten. If they have to handle the IRS for back taxes and what not, then they usually charge a commission fee and still another part of a percentage if you were to win. However, if you don't win, some lawyers do not charge.
How much will the taxes be if you win a 2 million dollar house?
For Single filing status, 2008 tax is $678,597 (2 million multiplied by 35 percent minus $21,403).For Married Filing Jointly, 2008 tax is $671,575 (2 million multiplied by 35 percent minus $28,425).For Head of Household, 2008 tax is $675,409 (2 million multiplied by 35 percent minus $24,591).The actual tax liability would be more or less depending on your other income, any income tax withheld from your other earnings, etc.
Can you deduct lost wages on your taxes due to caring for ill parents?
No. Just to start, you can't deduct income you didn't make or report. There is a lot of money I didn't make last year....I didn't win the $100,000,00 lottery..so while I didn't report it or pay taxes on it (I could)....I certainly can't deduct it. The lottery example is inapplicable to this question. Although the answer (No, you can't deduct lost wages) is correct, lottery winnings are not wages.
How much are property taxes if you win a house?
The property tax rate in your local area will be the same per year no matter how you acquired the property. The rate will be a percentage of the value of the home.
As a non-resident US citizen will you owe US taxes when you win a house or car overseas?
Yes. You must.
How much taxes would be taken from lottery win in India?
35% of your gross earnings
How much in taxes would be taken out on a 500 million dollar lottery win?
100.000
Do you have to pay taxes if you win a car?
If you win a car you are responsible to pay taxes in the state where you live.
If you win 170 million dollars in the lottery how much does taxes take?
64 million
If a low income senior citizen with no assets won one of those write an essay and win my house contests what options if any would let them keep the house?
If they "win" the house then they can keep it until they fail to pay the property taxes and can't find anyone to help them keep the house.
How much taxes are taken out on lottery winnings in North Carolina?
If I win 1000.00 what do thay take out
What percentage is taken in taxes if you win Publishers Clearing House Contest of money say 10 million dollars?
35%
What are the taxes on 800000 dollars?
What are the taxes on an 800,000 lottery win in the state of MS
If you win 4 million Arizona the Pick lotto take 12 amt.what is taxes single person?
if you win $4millon Arizona pick lottery take 50% what will your taxes be of single person
How much money do taxes take after you win 1 million dollars?
It really depends where you live, there's a state tax and a federal tax, some state taxes are higher than the others, but on average they might take almost half :/
