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What else can I help you with?
Are lawsuit proceeds taxable for back wages?
yes
Do you pay taxes on a wrongful termination settlement?
Yes, in general, wrongful termination settlements are subject to taxes. The IRS typically treats these settlements as taxable income, particularly if they include compensation for lost wages and benefits. However, amounts awarded for emotional distress or physical injury may be non-taxable under certain circumstances. It's advisable to consult a tax professional for specific guidance based on your situation.
Are the proceeds of an endowment policy taxable?
Proceeds of an endowment policy is not taxable. Regardless of a person's tax rate, proceeds of an endowment policy is tax free. ?æ
Are the penalties from a lawsuit taxable?
The penalties from a lawsuit is considered taxable income. The amount of tax depends on the amount of the settlement.
Are wrongful death settlements in Arizona taxable?
Yes, they are.
Are proceeds from the sale of a second home taxable?
Not the entire proceeds, just the capital gain.
Are proceeds from a POD Bank Account taxable to the beneficiary?
is pod incme taxable to the reciever?
Is income from a lawsuit taxable?
Yes, any income no matter how you make it is taxable.
When there is no beneficiary listed on a life policy do the proceeds go to the estate?
Yes. The proceeds will become part of the taxable estate.
Are life insurance proceeds taxable for the care of an individual in a nursing home?
if they are death benefit proceeds no. if it is cash value proceeds then any withdrawals over the premiums paid are taxable, any loans on the cash value are not taxable. if it is a hybrid/combo life/long term care policy, then no they are not. all of this is assuming that the policy was paid with after tax dollars, not pre tax.
Is insurance cash value paid to insured taxable?
are paid up insurance proceeds paid to the living person insured taxable
Are refinancing proceeds in excess of costs taxable?
Never subject to income tax
