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What else can I help you with?
Are executor fees taxable in New York state?
They are income for the executor. Yes, they are taxable.
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.
Do I have to pay taxes on attorney fees?
Yes, in most cases, attorney fees are considered taxable income and must be reported on your tax return.
Are broker fees taxable?
Yes, broker fees are generally considered taxable income. When a broker receives fees for their services, those fees are typically subject to income tax. Additionally, if the broker operates as a business, they may also have to pay self-employment taxes on this income. It's advisable for brokers to consult a tax professional to ensure compliance with tax laws.
Are expediting fees taxable?
Expediting fees are generally considered taxable when they are charged for services related to the sale of tangible personal property or taxable services. However, the taxability can vary by jurisdiction and the specific nature of the service provided. It's essential to check local sales tax laws to determine if expediting fees are subject to tax in your area. Consulting with a tax professional can provide clarity based on specific circumstances.
Are car dealer fees negotiable?
Yes, usually car dealer fees are negotiable. Mostly any dealership will try to make a negotiation with you, but be sure to bring it up.
How much is car tax in Maryland?
6% of the purchase price of the vehicle less credit for the trade in. Document fees & warranties are included in the purchase price (they are taxable). Insurance ( credit life/disabilty) is NOT taxable.
Are executor fees taxable if the executor receives none of the inheritance?
Fees received by an executor are not classified as inheritance and therefore are not subject to an inheritance tax, but they are classified as income, and are subject to income tax.
Are executor fees taxable?
Executor fees are considered income. As such they are subject to income tax at a federal and state level. Depending on the situation, it may be beneficial to waive the fees if the executor is inheriting a part of the estate. Consult a tax attorney or CPA.
Is it possible to write off lawyer fees on your taxes?
Yes, it is possible to deduct lawyer fees on your taxes under certain circumstances, such as if they are related to business expenses or for the production of taxable income. However, personal legal fees are generally not deductible.
Should registration fees be paid by used car dealer?
Not in Massachusetts anyhow.
Which of the following is not one of the main sources of auto dealer profits?
Licensing Fees.
