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By "pre-inheritance" do you a gift from a person who has not died yet?
If so, there is no tax to the recipient. The giver may or may not have to pay a gift tax, depending on the amount, the recipient, and how much the giver has previously given.
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∙ 15y ago
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What is the earning threshold for a child to pay taxes?
The child's income is essentially considered the income of the parent...so it is taxed at their rate, and presumably they have enough income to be taxed.
How are cash dividends taxed?
Dividends, cash or otherwise, are taxed as ordinary income.
Is net or gross income taxed?
gross
Do you have to report your income tax check?
The refund check, as income - No - for federal (it was taxed when overpaid - tax being paid with already taxed money), but a State one, yes. It was deducted from federal income.
How are corporate profits taxed?
Earnings are taxed first as corporate profits, then as personal income after dividends are paid.
Are fixed income annuities taxed?
Yes, the income you receive will be taxed as ordinary income.
Is the annuIty received from an insurance co is taxable?
It grows tax deferred. If you take an income stream or annuitize the annuity, the money is taxed as ordinary income.
Do you get taxed on money saved?
Not taxed again on the after income tax money that you have saved but you are taxed on the earnings from the after income tax saved money.
How is interest from a mortgage taxed?
If you received interest from a mortgage loan you made, it is treated as ordinary income. List it on Schedule B.
How much of a business's income is taxed?
The amount that a business's income is taxed depends on which of the eight tax brackets they are in which are based on overall profit. They can be taxed from 15% to 35%.
What happens to the percentage of an income that is taxed when income rises and the tax is a proportional one?
The percentage of an income that is taxed will stay the same when income rises until that income reaches a certain point set by the government. A higher tax bracket may mean a higher portion of the income will be taxed.
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.
What is the earning threshold for a child to pay taxes?
The child's income is essentially considered the income of the parent...so it is taxed at their rate, and presumably they have enough income to be taxed.
Is a military pension taxed?
Yes, it is income and all income is taxed.
How are cash dividends taxed?
Dividends, cash or otherwise, are taxed as ordinary income.
What are you being taxed on?
YOU are being taxed on all of your gross worldwide income from all sources that you have reported on your income tax return for the year.
How much is taxed are you taxed on 1476.00?
in Britain it is 17.5% tax rate and if that is your annual income then no.
