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What else can I help you with?
Do loans count as income for taxes?
Loans do not count as income for taxes because they are considered borrowed money that must be repaid, not earned income.
Does the beneficiary of a life insurance policy have to pay taxes on the proceeds?
The answer to the question of whether or not beneficiaries have to pay taxes on the money received from life insurance policies is: no they will not have to.
Do federal student loans count as income for tax purposes?
No. Student loans are borrowed money, and is not considered "income;" therefore, you do not include them on your taxes.
Money taken out of a salary for such things as taxes Medical insuranceand retirement funds are called?
Money taken out of a salary for such things as taxes, insurance, and retirement funds are called deductions.
When trading equity loans when do you pay income taxes?
Borrowed money is not income. You may actually get a dedcution for some of the expenses of the new loan, and those for the loan you retire.
Do loans count as income for taxes?
Loans do not count as income for taxes because they are considered borrowed money that must be repaid, not earned income.
Where will the US get the money for the stimulus package?
Unless new or increased taxes are put into law, the money will have to be borrowed by issuing government bonds.
Money taken out of a salary for such things as taxes medical insurance and retirement funds are called?
Money taken out of a salary for such things as taxes, insurance, and retirement funds are called deductions.
How did the government pay for the war efforts?
The government raised taxes higher and borrowed money from banks and others to get the rest.
Does the beneficiary of a life insurance policy have to pay taxes on the proceeds?
The answer to the question of whether or not beneficiaries have to pay taxes on the money received from life insurance policies is: no they will not have to.
What is an example of congress's borrowing power?
Money borrowed to pay for government expenses such as police, teachers, emergencies. Money which eventually will be paid back by taxes.
How much money will I have to pay in taxes if I don't have insurance next year under Obamacare?
How much money a person has to pay in taxes if they don't have insurance depends on how much money they make and how big their family is. Obama Care will decide the amounts.
Do you have to pay taxes when you receive money from a life insurance claim?
If you are an individual who receives the life insurance proceeds, you may not have to pay any federal income taxes on the benefits. If the life insurance policy names a trust as beneficiary, the trust may be subject to estate taxes.
Do federal student loans count as income for tax purposes?
No. Student loans are borrowed money, and is not considered "income;" therefore, you do not include them on your taxes.
Money taken out of a salary for such things as taxes Medical insuranceand retirement funds are called?
Money taken out of a salary for such things as taxes, insurance, and retirement funds are called deductions.
Received a payout from aflac after having policy for 20 years do i have to pay taxes on the money received?
No, not unless you deducted the cost of the insurance on your taxes.
Borrowing allows congress to?
The framers of the Constitution allows for the government to borrow money in order to finance public projects. An example of this would be the money borrowed for the Louisiana purchase.
