income taxes ? no insurance payments are exempt
You do not generally have to pay taxes on an insurance settlement claim. You can check with your tax firm or accountant for the rules specific to your state.
No, the insurance settlement is considered compensation for a loss, not income.
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If you are an individual who receives the life insurance proceeds, you may not have to pay any federal income taxes on the benefits. If the life insurance policy names a trust as beneficiary, the trust may be subject to estate taxes.
No, Hazard Loss compensation is not considered taxable income.
our taxes do NOT go to cancer researchType your answer here...
No, they will pay the claim to you and then you will be able to do what is fiscally responsible.
My child has to pay for lunch can I claim that on my taxes?
do you have to pay taxes on medical insurance in the state of Washington
You mean a casualty insurance payout? The amount that is for the loss of property is not taxable - as long as you didn't (and don't) claim a casualty loss on it for tax. (The payment means you have no tax loss).
no