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What else can I help you with?
Why would a lender pay the homeowner insurance?
Actually, the home owner pays the home owner's insurance. The lender has an escrow account. This is in additional to the payment of interest and repayment of principal. The escrow account pays the taxes and insurance. The escrow account pays the taxes so the government does not seize the property. The homeowners insurance pays in case the house burns down. So, you pay into the escrow account, and if your house burns down, the lender gets the insurance money. You would not pay a mortgage on a burned down house and the bank knows that, so they have you pay into the escrow account and they pay for the insurance.
Who pays taxes?
50 % of wage earners pay no taxes!!
What does it mean when they ask you if you want to hold your escrow or roll it over?
This may apply to escrow accounts for taxes. When a new home owner initially purchases a house the lender may require that an escrow or impound account be set up for taxes and insurance. The borrower pays monthly into the account. When the loan is refinanced, the home owner may have the option of rolling the existing escrow balance over into a new escrow account held by the new lender, or managing the money directly. If there is an escrow account then the monthly amount is included as part of the total monthly mortgage payment, and the lender pays property taxes and hazard insurance out of the account. If the borrower chooses not to have an escrow account, then the borrower is responsible for paying property taxes and insurance.
When I die who pays my taxes?
your estate.
A Plan where the government pays out more money than it takes in with taxes is called?
"A plan where the government pays out more money than it takes in with taxes"
Who pays income taxes on interest earned on a joint savings account that is owned by me and my mother?
Usually you and you mother will both pay half each of any taxes due on the interest which is generated from a joint account
If you live with someone that pays child support can monies be taken from your account to support that child?
If it is a joint account yes.
You had a joint bank account with your mom she died and you were the beneficiary she owes federal taxes legally do you have to pay the taxes my brother was the executor of her will received all assets?
It depends on how the account is held. Generally joint accounts are held JTWRS, Joint Tenants With Rights of Survivorship, this means when one account holder dies, their share of funds automatically passes to the other account holder(s)and is not subject to taxation or probate procedure.
Why would a lender pay the homeowner insurance?
Actually, the home owner pays the home owner's insurance. The lender has an escrow account. This is in additional to the payment of interest and repayment of principal. The escrow account pays the taxes and insurance. The escrow account pays the taxes so the government does not seize the property. The homeowners insurance pays in case the house burns down. So, you pay into the escrow account, and if your house burns down, the lender gets the insurance money. You would not pay a mortgage on a burned down house and the bank knows that, so they have you pay into the escrow account and they pay for the insurance.
is their an age limit on who pays fica taxes?
is there an age limit on who pays fica taxes
Who pays for property tax?
Usually the owner of the property is the one that pays the property taxes on the owners property. Some time the mortgage company will pay them from a escrow account but the money that is in the escrow account comes from the property owners monthly payments.
Can husbands paycheck that was put in joint bank account for child support be levied?
If you are the joint-owner of the account you have already have access to the money so there is no reason to levy it. If you are not the joint-owner then you can't levy the money in the account, only the money paid to him via his paycheck. The levy would cause his employer to divert some of the funds that it pays to him, before he receives it.
Can the State of Minnesota or the IRS take money from a bank account that is not a joint account to pay for a spouse's back taxes if the one who has the account does not owe taxes?
Minnesota is not a community property state, so the answer is generally no. However, if the funds are in the account as a result of a fraudulent conveyance to evade payment of taxes, action could be taken to recover them. Errors do happen, of course. As long as you are married to someone who does not pay their taxes, you do have to worry.
Who pays income taxes on interest earned on a joint savings account that is owned by your minor child and yourself and is there an amount he can earn that is not taxable?
The laws are different in different countries so you may wish to check with the tax authorities or an accountant or, easiest, whoever you are saving with. A minor child does have a small allowance but the parent is liable for taxes - and that would be at the parent's highest rate.
Who pays taxes?
50 % of wage earners pay no taxes!!
Who pays no taxes?
50 % of wage earners pay no taxes!!
Can the State of New York or the IRS take money from a bank account that is not a joint account to pay for a spouse's back taxes if the one who has the account does not owe taxes?
No. If it is not joined then it is your money, not your spouse's(e.g if she owes too much tax she will be placed in jail.(jail=time=money) it will be her time=money not yours that will suffer the consequences..., . Only joint accounts allow the IRS/State to do this though.
