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What is the tax percentage on a settlement from a car accident?
Wiki User
∙ 12y ago
The proceeds of compensation from an award for a vehicle accident are not taxable.
Wiki User
∙ 12y ago
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Do you file taxes on a car accident settlement?
no you can only file taxes in a tax place around the world or where ever you live
How much taxes do you pay on a slip and fall settlement?
The settlement will be listed as income on your Federal tax return. You will pay the tax percentage of the bracket you are in that year.
Do you have to pay taxes on car accident settlement from the at fault insurance company?
I am a resident of New York State and was involved in a personal injury accident. The settlement that I received is considered wages. You will have to check with your state and local tax laws. I am sure that a phone call to Jackson & Hewwitt or H & R Block in your state will work as well.
Can i Deduct my car accident settlement?
Perhaps you did not phrase the question the way you meant to? If you received a settlement, I am baffled as to why you would think that money you received is tax-deductible. If you still have some expenses that were not covered by the settlement, you may be able to claim a casualty loss deduction or a medical expense deduction. If you paid out a settlement, it would only be deductible if it were a business expense.
Can medical bills from an accident be claimed on taxes if there was a settlement?
Not if the settlement is medical expenses is more than the actual medical expense were. If the expense have already been deducted on your income tax return and you receive a settlement after that then you will have some recovery income that will have to be reported as income on your income tax return.
What percentage of the car price is the tax Illustrative mathematic?
Marriage
Are settlement charges to borrower a tax deduction?
On settlement statement from HUD there is a settlement charge. Is this entire charge a tax deduction?
What will be the sales tax percentage if you purchase a car in Massachusetts after August?
As of 2012 the sales tax on vehicles in MA is 6.25 percent.
Can your federal tax refund be taken if you are being sued for a car accident?
Yes, your refund is an asset and subject to lien.
What the percentage of sales tax on used car in Scottsdale Arizona?
The current total local sales tax rate in Scottsdale, AZ is 7.95%
What is the tax percentage for gift tax?
The tax percentage for the gift tax is generally 45 percent.
Where can one get free help in the US for tax settlement?
There is lots of help online for people looking for a tax settlement. Forbes magazines website offers advice for people who want help with their tax settlement also.
