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Most programs that give a stipend send a 1099 misc to the host family, which translates into a self employed business. So, save receipts for food and transportation to use for deductions. Also, a portion of your home expenses can be used as in a home business. Or you can deduct the amount you could charge for renting the same room, plus the food and transportation expenses. If you don't go that route, you'll end up paying back a third of your stipend in taxes.
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When whole life cash value is converted to annuity is it taxable?
No, in that specific circumstance it is tax exempt. As a point of interest, this is known as a "1035 exchange."
Is ppf interest taxable?
No. It is not taxable
Is ppf amount taxable after maturity?
No. it is not taxable
What kind of taxes are charged on the principal of student loans?
AnswerThere are no taxes on the principal of any loan, student or otherwise.In fact, there are no taxes on the payor of interest on a loan, student or otherwise. (The receipient of interest has taxable income of the amount earned).The interest paid on a loan secured by ones residence, are generally, deductible (the opposite of paying taxes)..
Are shoes taxable?
Oh yes shoes are taxable as some come from abroad.
Is foreign exchange gain taxable?
Foreign exchange gains are taxable but they are taxable with different rate of tax then actual normal profit of business.
Is stipend taxable?
If the stipend was for books or education, it is not taxable. Other stipends may be taxable depending on their purpose.
Is corporation tax payable on foreign exchange gains?
Of course. Even income from business deals occuring entirely out of the country are taxable income. Forreign source, but taxable here (and maybe there).
Are you tax exempt if you are a full time student?
No. A student has no particular importance to your taxability. It is like any other profession. Taxability is based on taxable income.
Do student grants have to be reported on income taxes?
ususally that would be no as financial aid is not considered taxable income
Can a student with 3 children file an income tax return if student loans are the only source of income?
No. Student loans, while you're receiving them, aren't taxable.For more information, go to www.irs.gov/individuals/students for the article, 'Taxable Income for Students'.Also go to www.irs.gov/formspubs for Publication 525 (Taxable and Nontaxable Income).
Does a student loan refund have to be claimed as income on taxes?
Loans are never taxable...I'm not sure what you mean by a loan refund though!
When whole life cash value is converted to annuity is it taxable?
No, in that specific circumstance it is tax exempt. As a point of interest, this is known as a "1035 exchange."
If an Employer pays an insurance stipend is it taxable?
Damned if you do, damned if you don't. If it is not taxed, it's a health reimbursement arrangement that likely runs afoul of the nondiscrimination rules and ACA requirement that there be no annual limits beginning in 2014. If it is taxed, it may increase the regular rate of pay for FLSA purposes.
Do I have to pay taxes on money won in a foreign casino?
Gambling winnings are taxable. Earnings made outside of the US (example: sports players playing or winning a championship someplace else, a salesman making sales in Europe, etc) are taxable. So yes.
Is labor taxable taxable in Florida?
Yes! All services are taxable in Florida.
Is ppf interest taxable?
No. It is not taxable
