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What else can I help you with?
Is there a tax write-off for me to gift to any family members?
Gifts under $14,000 are not taxable to the recipient and there is no tax deduction for the giver. Gifts are the annual $14,000 threshold may incur a gift tax up to 40% for the taxpayer that gave the gift.
Is a gift to grandchild a tax deduction?
No, your entirely backwards....if done properly it is neither taxable to them or gift taxable to you. No gifts - and especially no support of family - are tax deductible, (unless charitable donatiosn to QULIFIED charities).
Are executor fees taxable income if the deceased was a family member and the executor was also a beneficary?
There is a distinction between money the executor receives as compensation for administering the estate and money the executor receives as an inheritance. The fees are taxable income, the inheritance is not.
Is money listed in a will to family members taxable?
Yes, money or assets inherited from a will can be subject to taxation, but it depends on the specific laws of the jurisdiction. In the U.S., for example, beneficiaries typically do not pay income tax on inheritances, but the estate itself may be subject to estate taxes if its value exceeds certain thresholds. Additionally, any income generated from the inherited assets after the inheritance may be taxable. It's advisable to consult a tax professional or estate planner for specific guidance.
Is a gift of 25000 dollars taxable income?
A gift from whom to whom? Gifts to individuals like a family member are not taxable to the person receiving it, but may be taxable to the giver in the form of gift taxes. If large sums are gifted, you need to get professional assistance as there are ways of avoiding gift taxes if set up correctly before they are gifted. Afterward, it's too bad.
Do family members have to pay taxes on a parent's annuity when parent deceases?
Yes the annuity payments are taxable income to the beneficiaries in the same way that they were taxed to the deceased taxpayer.
What are payments by immigrants to family members in their home coumntry called?
dees nut
What two family members of Family Guy have considered liposuction?
Peter had it done. Chris considered it but wouldn't do it.
Is money that you loan to someone taxable?
A loan from a family member is considered taxable income. The borrower can deduct a certain amount of the interest paid. The lender will have to pay taxes on any interest earned.
Is gaura and oenothera the same?
Gaura are now considered to be members of the genus Oenothera. They are both members of the family Onagraceae.
What are payments sent by immigrants to family members in their home country called?
These payments are called remittances. They are typically sent by immigrants living and working in another country to support their families in their home country.
What do otters and prairie dogs have in common?
They are all members of the Musteloidea super-family. Wolverines and otters are members of the mustelidae family, and skunks are members of the mephitidae family. Until recently, skunks were also considered to be mustelids but have now been moved to their own family.
What to do if people missed sixteen days on a payment of a truck that they took payments over from a family member and then they repossess it without motifying you?
Well, a vehicle can be repossessed with no notification, so there's not much you can do about that. If the payments were taken over by family members, it's assumed the first family member was aware someone else would be paying for the truck and so is still responsible to see that the payments are made.
What is A chemical family whose members exist as reactive diatomic molecules in the gaseous phase is the?
A chemical family whose members exist as reactive diatomic molecules in the gaseous phase is the halogen family. All halogens are considered as toxic.
Are brothers in-law considered members of immediate family?
Your immediate family is another way of describing your nuclear family. Immediately family is usually considered to be your spouse, children, and parents, but sometimes includes parents only if you are living with them.
Who is considered next of kin when there are no immediate family members?
cousin, niece, nephew, aunt, uncle, grandparent
Did Thomas Edison have family members?
yes he had a lot of family members. he had 20 family members
