Normally you never make a profit on a car you buy and sell years later. Depreation will take care of that. However if you are buying and selling cars for profit, then yes the net profit is considered earned income. Not the selling price but the net profit.
You will file a claim through your insurance for the loss of the vehicle as well as lost income, etc. You must be able to prove the lost income and related expenses. Your insurance company will take care of the claim so that you can get back to business, then it will file against the insurance carrier of the at-fault driver.
Cars may be donated to the Breast Cancer Fund. The vehicle is sold at auction, and the sale proceeds are passed on to the Breast Cancer Fund. This may allow you to claim a tax deduction for the sale price of the vehicle.
When a firm sells a good or a service, the sale contributes to the nation's income
No
Only if the insured incident occured before the sale of the house (and the claim placed prior to sale). It is at the date of the claim not relevant to selling.
Yup . . . and don't forget to file your state return too for sale's tax credits, grocery credits, etc. Adds up to hundreds even if you have a small family!
Yes, you can still file taxes in 2021 if you have no income but claim a dependent.
Loss on sale of land is added back to net income in operating activities and sale of land is shown under investing activity as a reduction in amount.
Yes
Yes,You Can!
no
yes