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How is discretionary income calculated?
Discretionary income is calculated by taking your gross income minus your expenses and what you are left with is discretionary income. Most Americans do not have a large amount of discretionary income.
Per capita income Calculated by?
The percapita income is the income earned per person by the state or country.It is calculated by dividing the total national income by the population of the state.
How does income insurance work, exactly?
You can qualify for income insurance if you become ill long term, or have a serious accident which prevents you from working or earning an income. As with car insurance, you need to choose the insurance package that is best for you. Additional information can be found at the following link: http://www.incomeinsurance.co.uk/
What do you mean by income over expenditure or expenditure over income?
income over expenditure is profitexpenditure over income is loss
What is the average income of a crop insurance agent?
The average income of a crop insurance agent is $6000 monthly. This translates to a salary of over $72000 per year.
Are insurance payments for loss of income taxable?
because it is....
What type of insurance is designed to replace the loss of income from a deceased family member?
Life Insurance
What is business income extra expense insurance?
Coverage for loss of income and extra expenses necessary to continue operating following a covered loss.
Do I need to pay taxes on an insurance claim payment?
No, the insurance settlement is considered compensation for a loss, not income.
Disability Insurance Needs?
Disability Insurance Needs One of the most common causes of income loss is through a disability. While most disabilities cause only temporary loss of income, any income loss can be devastating if you are not financially prepared. This calculator helps you determine how much disability insurance you may need to cover expenses during such a disability.
Why is it necessary to own life insurance?
Insurance is a tool to prevent financial loss. If there are ones that would be put at a disadvantage because of your loss of income or if you have debts that would cause hardship then you need life insurance.
Do you pay taxes on a home insurance settlement from a tornado?
Not exactly. Reimbursement for the loss is not taxable income....just like simply selling the property at no loss/gain would not have been income. Common sense prevails here - what you CAN'T do is take a casualty loss for damages that are reimbursed by insurance. (The reimbursement means you didn't have a loss). To the degree you have an unreimbursed loss, that's fine. If you report a loss and then are reimbursed, essentially that would become income.
What has the author Denis Riley written?
Denis Riley has written: 'Consequential loss and business interruption insurances and claims' -- subject(s): Business income insurance, Business interruption Insurance, Insurance, Business interruption 'Riley on business interruption and consequential loss insurances and claims' -- subject(s): Business income insurance
What does business insurance cover?
Business insurance covers things that would be a financial loss for the company. This would include natural disasters, liabilities, loss of income, record protection, etc.
Do you have to pay taxes on an insurance claim from a house fire?
No. Insurance benefits from a house fire would be considered a swap of assets. You cannot take a deductible loss on your taxes for the loss that was reimbursed by insurance.
Are proceeds from insurance for roof replacement subject to tax withholding?
No, proceeds of an insurance claim are repayment for your financial loss. It's not considered income.
You recently received proceeds from an business insurance damage claim Are these proceeds taxable?
To get to the route of what your asking: The amount of the LOSS that is deductible is the unrecovered loss. Hence if you have claimed the entire loss as a deduction the amount of insurance you get is income - because essentially, you overdeducted the loss. If you have made no loss deduction claim, then u=insurance is NOT taxable as it is onlyr returning you to the position you were in before the loss.
