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labor unions, churches, universities, and hospitals

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12y ago

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Do the wealthy pay income tax?

The wealthy do pay income tax, and since the wealthy have more income, they must pay more money in income tax.


What is difference between tax free and taxable income?

You don't pay tax on the tax-free pay and you do pay tax on taxable income


Do professional punters pay income tax?

all people pay income tax.


What do you pay income tax on?

Could it be your income??


Do you need to pay monthly and quarterly income tax even though you have paid the annual income tax?

yes we have to pay tds and advace tax beside anual income tax


What is the purpose of the 990-T letter and how does it impact tax filing for nonprofit organizations?

The purpose of the 990-T letter is to report unrelated business income for nonprofit organizations. It impacts tax filing by requiring nonprofits to pay taxes on income generated from activities not related to their mission, potentially affecting their overall tax liability.


Do you pay income tax on inheritance?

No Federal income tax due on inheritance.


What is the tax rate for vacation pay?

The tax rate for vacation pay is the same as the tax rate for regular income, which is based on your total income and tax bracket.


Whats the difference between tax free income and taxable income?

You pay tax on taxable income and you don't on tax free income


Do you have to pay income tax on IRA income?

On a standar IRA, Yes (you didn't pay tax on the $ contributed or as it grew). On a Roth IRA, (where you paid the tax on the income before contribution), No.


How do you use the word income in a sentence?

He had to pay his income tax. My dad has to pay income taxes.


Does the church have to pay income taxes on tithes?

No- churches and other tax-exempt charities do not pay income tax on the donations they are given. Church employees have to pay income tax on their salaries and the church must collect with-holding tax on these salaries.