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If an independent executive of an estate is paid 6300 dollars does she have to pay taxes on that?
It isn't an inheritance. It is a payment for services rendered. Just like anyone else getting paid for work. (If she actually is a lawyer or accountant, or as administor she hired one, would you have any question if those payments were income to the recepient?) Taxable. I believe the estate she was managing needs to provide a 1099 too.
What else can I help you with?
Do you pay estate taxes on property left to you?
Generally the taxes are paid by the estate.
Who pays taxes on estate that is controlled by the executor?
The executor of an estate uses the assets of the estate to pay any taxes or other debts owed by that estate. If it should turn out that the taxes owed exceed the value of the estate, then the executor pays as much as the estate consists of, after which there is no longer an estate.
Do I have to pay estate taxes on inheritance property?
Yes, you will have to pay estate taxes on inherited property. In the United States an estate taxes is always imposed on the transfer of the "taxable estate" of a deceased person. Have already paid state taxes for CA. in FEB. Are there going to be more? I've paid taxes, is there aditional taxes included.
Do you have to pay taxes on estate money received?
Yes, you will have to pay taxes on any estate money received.
Does the estate pay taxes?
Estates pay taxes on income and may have to pay inheritance taxes.
Is 60000 inherited taxable?
The amount of taxable inheritance depends on the entire estate. If the amount of the estate that the 60,000 was inherited from is over 2 million dollars then the income is taxable. If the estate was worth less then that then there are no taxes on the estate.
Does an independent administrator who is paid a fee for an estate have to pay taxes on that fee?
Taxable gross income includes professional fees paid to you.
What is the tax rate of an estate valued at 500000 going to children?
Zero. Estate taxes start at $3.5 million dollars value, so .5 isn't going to be taxed.
Do you pay estate taxes on property left to you?
Generally the taxes are paid by the estate.
Who paid more taxes third estate or 1st estate?
No, they did not. They were exempted from paying taxes. Only the 3rd estate (the bourgeoisie) had to pay taxes.
What type of taxes Levied directly on the entire estate of a person?
Estate taxes are levied on the entire estate of a person.
Can you claim real estate taxes on your taxes?
Yes, you can claim real estate taxes on your taxes as a deduction if you itemize your deductions on your tax return.
Are special taxes are never placed on an estate?
Special taxes can indeed be placed on an estate, typically in the form of estate taxes or inheritance taxes, depending on the jurisdiction. These taxes are assessed on the value of the estate after the owner's death and are intended to generate revenue for the government. Additionally, some regions may impose specific taxes on certain assets or transfers within an estate. Therefore, it is not accurate to say that special taxes are never placed on an estate.
Who pays taxes on estate that is controlled by the executor?
The executor of an estate uses the assets of the estate to pay any taxes or other debts owed by that estate. If it should turn out that the taxes owed exceed the value of the estate, then the executor pays as much as the estate consists of, after which there is no longer an estate.
Do I have to pay estate taxes on inheritance property?
Yes, you will have to pay estate taxes on inherited property. In the United States an estate taxes is always imposed on the transfer of the "taxable estate" of a deceased person. Have already paid state taxes for CA. in FEB. Are there going to be more? I've paid taxes, is there aditional taxes included.
Do you have to pay tax on your deceased sons super and death policy?
Insurance benefits are considered part of the decedent's estate. There are (theoretically) estate taxes due on them, but unless your son had a lot of other assets or an unusually large policy it's unlikely that there will be any estate tax due; the first five million dollars of the estate's assets (roughly) are exempt from federal estate taxes (it may not be exempt from state taxes, though; check with a tax professional if you're not sure). Benefits received from someone's estate are not subject to income tax.
Small estate is there estate taxes no will?
If there is an estate, there are tax forms to be submitted. They may not result in any estate taxes, but they have to be filled out and sent in. That is one of the responsibilities of the executor.
