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What can you do when you can not afford car payments because of loss of income?
Wiki User
∙ 14y ago
Well, sometimes you can explain to the dealership what's happened and they might agree to give you some extra time to get the money for your payments. Other than that I don't really know what you can do unless you borrow the money.
Wiki User
∙ 14y ago
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Are insurance payments for loss of income taxable?
because it is....
If you are not receiving child support payments can you receive a tax break for income loss?
Unless you are producing children as a side business to being a prostitute, the money received is not income to show a loss on.
Are life insurance payments reported on the balance sheet?
Cash value would be. Premiums would be on the Profit and Loss - Income Statement.
Can a finance company repossess a car after notifying them that you have loss of income or disability insurance through them?
Only if you start missing payments. They have no business knowing your source of income once the loan has started. Should a payment be missed, they may start (at their discretion) repossession proceedings. Failure to show your source of income for these payments is not a reason to call your note.
Can you file for tax returns on only workmen's compensation?
NO WC income may or may not have been taxable, and may or may not have been withheld on when it was paid. It depends on the specific WC program and what the particular benefit is for. (Payments for loss of a body part, say an arm or such, aren't taxable - they just are to replace your loss. But payments for loss of income, which would have been taxable had you worked for it - certainly are taxable still). It also matters if the "insurance" was paid for by you or the employer. You will receive a 1099 saying what type of income yours was and what if anything was already withheld.
Are Workmen's Comp benefits taxable income?
Actually it's no, they are not taxable.http://www.irs.gov/publications/p907/ar02.html#d0e206 Other PaymentsYou may receive other payments that are related to your disability.The following payments are not taxable.Benefit payments from a public welfare fund, such as payments due to blindness.Workers' compensation for an occupational sickness or injury if paid under a workers' compensation act or similar law.Compensatory (but not punitive) damages, for physical injury or physical sickness.Disability benefits under a "no-fault" car insurance policy for loss of income or earning capacity as a result of injuries.Compensation for permanent loss or loss of use of a part or function of your body, or for your permanent disfigurement.Yes, but they are taxed by a different criteria than normal income.
What is the loss of crops and income 10?
loss of crops and income 10
What is the number one reason for consumer default on loans?
Someone defaults on a loan when they fail to pay it back (or pay back a regular instalment). Normally this would either be because they can't afford the payment, or they forgot to make the payment.
Are workmens comp benefits taxable?
Actually it's no, they are not taxable.http://www.irs.gov/publications/p907/ar02.html#d0e206 Other PaymentsYou may receive other payments that are related to your disability.The following payments are not taxable.Benefit payments from a public welfare fund, such as payments due to blindness.Workers' compensation for an occupational sickness or injury if paid under a workers' compensation act or similar law.Compensatory (but not punitive) damages, for physical injury or physical sickness.Disability benefits under a "no-fault" car insurance policy for loss of income or earning capacity as a result of injuries.Compensation for permanent loss or loss of use of a part or function of your body, or for your permanent disfigurement.Yes, but they are taxed by a different criteria than normal income.
how does income and expenses account difference from Profit and Loss Account?
Income and expense for not for profit organisations is same as profit and loss account but they cannot use the name profit and loss account because not for profit organisations are not formed to earn profit.
What would it affect if the Great Barrier Reef was destroyed?
Australia because there will be lower income because of loss of tourism.
Difference between income and expenditure account and p and l account?
Differences Between Receipts And Payments Account And Income And Expenditure AccountThe following are the main differences between receipts and payments account and income and expenditure account: 1. NatureReceipts and payments account is a summary of cash transactions for a period and it is a real account. Income and expenditure account is a summary of expenditure and income like trading and profit and loss account and it is a nominal account.2. ObjectiveReceipts and payments account is prepared to show cash and bank receipts and payments during the period to derive closing balance of cash and bank. Income and expenditure account is prepared to show the net result of the operation during the period to derive surplus or deficit.3. RecordingAll cash and cheque receipts are recorded on debit side of receipts and payments account where as all cash and bank payments are recorded on credit side. In income and expenditure account all expenditure of revenue nature are recorded on debit side and all incomes of revenue nature are recorded on credit side.4. Capital And Revenue ItemsThere is no distinction between capital and revenue receipts and payments in receipts and payments account. All expenses and incomes of revenue nature are recorded on accrual basis in income and expenditure account.5. ContentsReceipts and payments account contains only cash and bank transactions. Income and expenditure account contains both cash and non-cash expenses and incomes of revenue nature.6. Balance Sheet RequirementReceipts and payments account is not required to prepare balance sheet. Income and expenditure account is required to prepare balance sheet.7. AdjustmentsNo adjustments are required in receipts and payments account. In income and expenditure account adjustments are made because it is prepared on accrual basis.
