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The term taxes is frequently applied a bit broadly here. Many of the things that some consider taxes are actually probably better classed as fee's.
Certainly you have the taxes on the gain or loss of a capital asset income tax purposes, on the Federal & State levels as applicable.
All Property taxes need to be up to date, to the time of transfer. (This can result in either a payment or a refund, depending on if taxes in that particular jurisdiction are paid in advance or arrears).
And any local transfer/recording taxes - again more like fees', although certainly some locales may have a fee, even a substantial one (a part of a percent), based on the total transfer price.
What else can I help you with?
Do you still pay taxes if the land and the property is yours?
yes
Do you have to pay capital gains taxes when you sell land?
Yes, you typically have to pay capital gains taxes when you sell land if it has appreciated in value since you acquired it. The tax is calculated on the profit made from the sale, which is the difference between the selling price and your adjusted basis in the property. However, there may be exemptions or deductions available, such as the primary residence exclusion, depending on your specific situation. It's advisable to consult a tax professional for personalized guidance.
What taxes do you pay if you live and work in New York?
In the state of New York you would pay income tax and sales tax. If you own property you would pay real estate taxes to your town/city and county. If you buy gasoline for use in a car or other road vehicle you would pay gasoline tax. If you stay in a hotel you will pay hotel taxes. If you buy cigarettes or liquor you will pay separate taxes on those products. If you run a company, you will pay payroll and business taxes. If you buy or sell stocks or bonds you will pay taxes on those transactions.
Do alaskans have to pay taxes on gold they mine?
When you sell the gold, that is income- and you will pay Federal Income Tax on that income, just like you pay on wages you earn.
Do you always have to pay taxes on land?
You have to pay taxes because we always waste stuff. But Indians don't have to pay taxes or even pay for collage because long ago, the Indians always planted the spare parts of food they didn't eat because they believed that it would grow into more food.
How did Massachusetts's tax policy affected farmers?
the farmers had to sell their land since they coulnt pay for the taxes they owned.
Do you have to pay taxes on stocks?
You have to pay taxes on the profits when you sell or otherwise dispose of the stocks. You also have to pay taxes on dividends.
When your father is still alive and sales you land and you want to sell it what percentage do you have to pay to the IRS?
You don't necessarily have to pay any taxes on land sales, if they are structured in ways that avoid taxable transactions. Talk to your accountant about minimizing your taxes on selling real estate.
Own my mobile homebut renting a lot.Have property taxes that say real estate taxes would the landlord have to pay them?
no, the realestate taxes are for the house not the land and the land-lord has to pay taxes on the land anyway.
How did Incas pay taxes?
The Incas payed their taxes by paying taxes on the land they worked on.
Do I have to pay taxes on my stock options?
Employees may or may not have to pay taxes on their stock options. According to Smart Money, employees have to pay taxes for stocks they choose to sell.
Do you have to pay taxes on land you sell if you are on social security?
The answer is Yes! Social Security benefits are non taxable but any other money you receive from sold land will have to be listed on your IRS form and yes you might have to pay taxes depending on the amount. If in doubt contact the IRS. Taxation depends on the money you get.
What taxes do you pay when purchasing a house?
When purchasing a house, you may need to pay property taxes, transfer taxes, and possibly capital gains taxes if you sell the house for a profit.
Why did officials seize farmers land?
Land, because they couldn't pay their taxes.
Why did states seize farmers land?
Land, because they couldn't pay their taxes.
Will I have to pay a capital gain's tax on my home if I sell it?
No unless that is yours and the buyers agreement they might have you pay taxes or they won't move in and if they do pay taxes you won't have to worry about them.
Would you pay taxes on candles you make in your home?
Only if you sell them.
