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What else can I help you with?
Do you pay tax on money received from spouse life insurance?
Life insurance proceeds are received income tax free; how the money is taxed afterwards depends upon how and where it is invested.
I received 191000 in a cash out refinance do I have to pay income tax on the money?
The proceeds of a loan are not income, so no tax.
How do you pay taxes on dividends?
To pay taxes on dividends, you report the amount received on your tax return and pay taxes at your applicable tax rate. The tax rate on dividends can vary depending on factors such as your total income and the type of dividends received.
Does the receiver have to pay gift tax on the gift they received?
In most cases, the receiver does not have to pay gift tax on the gift they received. The responsibility for paying gift tax typically falls on the person giving the gift.
What is the difference between Roth IRA and a traditional IRA?
A Roth IRA is funded with after-tax money and you do not pay taxes when you withdraw the money. A Traditional IRA is funded with pre-tax money and you pay taxes when you withdraw the money.
Do you pay tax on money received from spouse life insurance?
Life insurance proceeds are received income tax free; how the money is taxed afterwards depends upon how and where it is invested.
I received 191000 in a cash out refinance do I have to pay income tax on the money?
The proceeds of a loan are not income, so no tax.
Do you have to pay sales tax if shipping the car abroad?
no you don't
Who is liable to pay Service Tax to the government?
In all cases except two, the provider of Service is responsible for paying the Service Tax to the Government. Only in respect of the Goods Transport Agency Service & Service received from abroad, the responsibility to pay the tax is on service receiver.
Do you have to pay income tax on money received for land to be used as a road?
The money that you receive in this case is just like a sale because that is what it is. You will receive a reporting form on this money paid to you and the IRS will get a copy as well. You will need to report this sale on your income tax return and pay taxes on the profit.
What is a tax that you pay on the money you earn?
To answer your question, the taxes you pay on the money you earn (salary, income) is called income tax.
Do you pay tax on money received from a bank account if your are the designated pay on death recipient?
It is possible that you could have some taxable income in the amount that you receive from the bank account.
Does IRS tax regular IRA distributions?
Yes, IRA distributions are taxable. You do not pay tax while the money is in the account, but you pay tax when you withdraw the money.
What type of business needs to pay tax and what type of business do not need to pay tax?
you pay from your job money
Do you have to pay taxes on money received to start a business?
Money used to start a business is tax deductible. Make sure you keep records of all your business transactions. Even if you get a small business loans or a business credit card, the interest on those loans are tax deductible. These moneys are more of business capital or operating costs and not income Money received to start a business can be viewed in one of 2 ways and thus therein lies your tax liability! 1st - If money received is income than there will be a tax levied against that revenue by the IRS. 2nd - If money received is 'capitalized' by the business then there will be no tax assessed by the IRS.
How do you pay taxes on dividends?
To pay taxes on dividends, you report the amount received on your tax return and pay taxes at your applicable tax rate. The tax rate on dividends can vary depending on factors such as your total income and the type of dividends received.
What to do if you cant pay tax on sweepstakes house?
Sell the house AS-IS and show that as the actual value of the prize you received then pay tax of that amount you received (not the amount qouted by the sweepstakes).
