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What percentage of a person's income can be taken for restitution payments?
Wiki User
∙ 14y ago
It is usually calculated on a percentage basis. A total of all your monthly obligations and your income and available assets.
Wiki User
∙ 14y ago
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What is witholding?
Payors of dividends and interest do not ordinarily withhold income taxes from those payments. However, persons who do not report that income on their tax returns are subject to "backup withholding" of taxes from those payments.
What is backup witholding?
Payors of dividends and interest do not ordinarily withhold income taxes from those payments. However, persons who do not report that income on their tax returns are subject to "backup withholding" of taxes from those payments.
What percentage of federal income taxes are paid by persons making more than 250000?
43.6
What did SSI provide income for?
SSI provides cash payments to low-income persons over age 65 or disabled who meet certain other factors of eligibility, such as citizenship.
Describe the progressive nature of the individual income tax?
It imposes a higher percentage rate of taxation on persons with higher incomes.
Are income tax payments deductible?
State income tax payments are deductible on your federal income tax return. (You may deduct state income tax or sales tax, but not both.) Federal income tax payments are deductible on your state tax return in a tiny number of states.
Explain debt to income on credit scoring?
Add up all your gross income ... Add up all your normal bills, including utilities, car payments, credit card payments. Now divide the bills by the income - the result will be a percentage. The lower that number, the better ... generally if it is above 42%, one is likely not to get that car loan after all.
Who is exempt from paying child support?
Almost no income/assets are exempt from child support. One exception is public assistance payments (including SSI).
Are tax payments deductible?
Estimated Income tax payments are not deductible in figuring out what your taxable income is, that determines how much your actual income tax is. See, that's circular.
Formula for net income percentage?
Net income percentage = Net income / Revenue
Do i as a disabled veteran pay income tax on the disability payments?
If your disability payments are through the VA then they are tax free and are not considered taxable income.
What is a persons taxable income?
Persons taxable income is the taxable income of any individual like owners or anybody in normal life which includes salary income, income from any business in partnership etc.
