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Taxable, of course. Virtually all interest income is taxable, unless fro a specific tax exempt type investment..like state and muni bonds.
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Who can benefit from Original Issue Discount?
OID securities are great for non-taxable entities. They have none of the tax problems taxable entities have with imputed interest etc.
Does the IRS tax you on your checking account without interest?
No. If your checking account in non interest bearing, then the you will have no interest to report on your income tax return and therefore no tax to pay.
Can a minor's bank acct be garnished?
No, a minors bank account can not be garnished, if they are the only person on the account. If this is a joint account and the non-minor is subject to a judgment then it can be levied or garnished.
How much does a notary typically charge for services to a non-account holder at a bank?
54
What is a delinquent bank account?
A bank account is usually considered delinquent if it is overdrawn and the owner has failed to repay the amount owed. Usually an account is labeled "delinquent" after around two consecutive months of non-payment.
Interest on City of Boston Bonds - are they Taxable or non-taxable?
No city bonds are taxable
is sterling bank fdic insured?
Yes, Sterling Bank is FDIC insured. All non-interest amounts in your account will be guaranteed by the FDIC.
What purpose does a student bank account serve?
A student bank account offers the student loans and overdrafts with either no interest or at a lower interest than a non-student requiring a loan or overdraft. The purpose takes into account that a student will be earning lower amounts of money than a person who is in full time employment.
Who can benefit from Original Issue Discount?
OID securities are great for non-taxable entities. They have none of the tax problems taxable entities have with imputed interest etc.
How to calculate the burden ratio of bank?
(Non Interest Op Expenditure - Non Interest Income)/ Average Assets
Burden in a bank's income statement?
adjusting non interest expenses against the non interest revenue is call burdens
Does the IRS tax you on your checking account without interest?
No. If your checking account in non interest bearing, then the you will have no interest to report on your income tax return and therefore no tax to pay.
What are the accounting entries for expenses and incomes in double entry systems?
income with non taxable should put in under which account
Can a minor's bank acct be garnished?
No, a minors bank account can not be garnished, if they are the only person on the account. If this is a joint account and the non-minor is subject to a judgment then it can be levied or garnished.
How do I open an US bank account for non-resident of USA?
To open a USA bank account for a non-resident, you should have all basic information about the person. You can then pay a visit to a local bank for registration. You can also register online.
What salary does the President receive?
The President of the United State's salary is approximately $400,000 per year. This continues once they have left office in the form of a pension which is equal to the cabinet secretary's pay.Yes. He is compensated at the rate of $400,000 per year. The president also receives several expense accounts.The president earns a $400,000 annual salary, along with a $50,000 annual expense account, a $100,000 non-taxable travel account and $19,000 for entertainment.
Is it legal for your bank to charge non-your bank ATM fees when there are NO ATMs available from your bank in the country you reside?
YES! When you open the account, you are given disclosures about your ATM card. Processing ATM transactions is very timely, especially when working with non-your bank transactions. ANd the non-bank REQUESTS payment from your bank, and they usually just pass it on to you. Usually, your bank MAY have a sister bank that it has merged with (because nowadays, all banks have merged with another at some point and still keep the same name) and you can use their ATM free of charge. But PLEASE call your bank or email them and ask them what options you have. If they can't accomodate you, it is under your best interest to just open an account with a bank where you are.
