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Absolutely he does. The VP of the United States is required to pay his income taxes just like everyone else is.
Gross is what you make before taxes and anything else is taken out. Net is what you take home after it is all taken out.
By filing your income tax return correctly and if someone else has done this you will receive a notice from the IRS asking for some information to prove that your information on your income tax return is correct.
In one way or another, they pay income taxes on profits, property, vehicles, and every other tax that everyone else pays. Depending on the type of business and how it is formed, determines how the income tax is paid and on what type of tax return.
When something is withheld, that means that it is removed from something else. For tax purposes, it generally refers to the taxes that are removed from a person's paycheck. For example, an employee has the following taxes removed from each paycheck: federal income taxes, state income taxes (if applicable), Social Security taxes, and Medicare taxes. The federal and state income taxes are prepayments of the tax you're expected to owe, so you will claim these payments when file your tax return. The Social Security and Medicare taxes (usually referred to as FICA) are taxes that get paid towards benefits you may be eligible for in the future. You pay half of these required taxes and the employer pays the other half (Self-employed people pay the entire amount themselves).
Absolutely he does. The VP of the United States is required to pay his income taxes just like everyone else is.
Yes they do the same as any one else that has any gross worldwide taxable income to be reported on the 1040 tax form.
Gross is what you make before taxes and anything else is taken out. Net is what you take home after it is all taken out.
By filing your income tax return correctly and if someone else has done this you will receive a notice from the IRS asking for some information to prove that your information on your income tax return is correct.
By the taxation department in sales tax, gst, value added or income tax the same as anywhere else.
In one way or another, they pay income taxes on profits, property, vehicles, and every other tax that everyone else pays. Depending on the type of business and how it is formed, determines how the income tax is paid and on what type of tax return.
That's going to depend on how you got it, where you got it, what you did with it, what else you got in the same year besides the $1.5 million, and where you live.
socioeconomic status
Sure...like anyone else (of course a disabled may have an extra dedcution when computing taxable income - but they are essentially taxable like anyone else).
No. You do not pay tax on the death benefits when you receive them but you do have to pay taxes on investment income from such benefits as anything else.
When something is withheld, that means that it is removed from something else. For tax purposes, it generally refers to the taxes that are removed from a person's paycheck. For example, an employee has the following taxes removed from each paycheck: federal income taxes, state income taxes (if applicable), Social Security taxes, and Medicare taxes. The federal and state income taxes are prepayments of the tax you're expected to owe, so you will claim these payments when file your tax return. The Social Security and Medicare taxes (usually referred to as FICA) are taxes that get paid towards benefits you may be eligible for in the future. You pay half of these required taxes and the employer pays the other half (Self-employed people pay the entire amount themselves).
"Else"? Besides what?