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Yes. Mutual fund houses give out a commission of 1 or 2% of the investment value to the agents/brokers who sell their MF products. This commission would be clubbed with your income and you would have to pay tax for it.
ex: If you are an agent and you convince me to buy MF of XYZ fund worth $10,000 you will probably get a commission of $200
What else can I help you with?
How can I use a personal loan for income tax purposes?
You can use a personal loan for income tax purposes by using it to pay off tax debts or to cover expenses related to tax preparation or filing. However, it's important to consult with a tax professional to ensure that you are using the loan in a way that is compliant with tax laws and regulations.
Do capital gains count as earned income for tax purposes?
No, capital gains do not count as earned income for tax purposes.
Is a home equity loan considered as income for tax purposes?
No, a home equity loan is not considered as income for tax purposes.
Do capital gains count as income for health insurance purposes?
Yes, capital gains are considered income for health insurance purposes.
Is 401k considered earned income for tax purposes?
Yes, 401(k) contributions are considered earned income for tax purposes.
Is Personal income in the US is primarily determined by selling labor services?
true
What has the author Harold William Jasper written?
Harold William Jasper has written: 'Averaging of income for federal personal income tax purposes' -- subject(s): Income tax, Income averaging
How increase in personal income generate traffic congestion?
If someones disposable income increases, they are more likely to ride in the comfort of their personal cars rather than make use of the cheaper alternative of public transport. Which will lead to an increase in traffic congestion.
Is the sale of puppies ordinary income?
Yes, the sale of puppies can be considered ordinary income if it is conducted as part of a business activity. If an individual breeds dogs with the intention of selling them for profit, the income generated from these sales would typically be subject to ordinary income tax. However, if the sale is infrequent or from a personal pet, it might be treated differently for tax purposes. It's important to consult with a tax professional for specific circumstances.
Can a sole proprietor use his business income as his personal income on a schedule c when filing his taxes?
Yes, a sole proprietor can report business income as personal income on Schedule C when filing taxes. The income generated by the business is considered personal income for tax purposes, as there is no legal distinction between the owner and the business entity. This means that all profits and losses from the business are reported on the owner's individual tax return.
How to culculate personal income to disposable income?
Personal Income = Disposable Income + Personal Savings
How price effects can be decomposed into its income effect?
price effects income directly. if price is high then demands will down and profit will high. if price is low demand will increase. and profit will minimum. but due to high selling amount profit can be increase.
How can I use a personal loan for income tax purposes?
You can use a personal loan for income tax purposes by using it to pay off tax debts or to cover expenses related to tax preparation or filing. However, it's important to consult with a tax professional to ensure that you are using the loan in a way that is compliant with tax laws and regulations.
How agriculture income is treated for income tax purposes?
direct income
Do capital gains count as earned income for tax purposes?
No, capital gains do not count as earned income for tax purposes.
Is a home equity loan considered as income for tax purposes?
No, a home equity loan is not considered as income for tax purposes.
To calculate disposable personal income you take personal income and subtract what?
individual income taxes
