 Why don't they increase taxes on beer like they do on cigarettes? |
I’m not a smoker or anything, but I feel that they reasons they give for raising taxes on cigarettes would work on beer.
Examples:
It would stop kids from developing bad habits.<... |
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 Can you write off online casino/gambling losses on your taxes? |
| a friend of mine asked me this question and I admit I dont know - I know you can write off legal losses like from vegas and stuff - and Im sure the tax man wants to you report any winnings from any ... |
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 About bush and his stimulus my girlfriend and I were sitting here estimating our tax refund ? |
| and how much we would get back this year. and she noticed that they ask how much did you get back for the stimulus last year. and she put in how much she did then she found out how much she would get,... |
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 How much will it cost me to hire someone to do my taxes? |
| I would lke to get my taxes done professionally because I worked in 2 states this year (I had no idea if that would complicate them). The past 2 years I had them done at work for free by a coworker, ... |
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 If my ex husband hasn't paid child support since March of 2007 does he still get to claim her on his taxes? |
| He hasn't paid since March of 2007, but in my divorce decree it says he gets to claim her, but the IRS says whoever pays 51% of her support gets to claim her? Which one do I have to go by? If ... |
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 I lived in Indiana until December 1st, 2006 then moved to Maryland. Where do I file state taxes? Both states?? |
| I worked in Maryland the last 3 weeks of December and live there now. I included a W2 from Maryland in my Federal Taxes.... |
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 I am self employed and have my unique tax ref number. Can i raise an invoice with VAT displayed on it? |
| I was asked for a VAT No by the company I recently did the job for but when i told them i only have Unique tax reference No rather than VAT Reg No, i was told i need to re-write an invoice and musn�... |
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 The company I used to work for is withholding my w2, is that legal? |
| I called my former employer to ask about my W2 and to make sure that they had the correct address to send it to. The person I spoke to told me that the company was withholding my W2 because I owe $40... |
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 Has Palin taken a stand for or against the Fair Tax? |
Additional Details
Please make sure you are in full understanding of the fair tax when you post your reply if you choose to post anything but a yes or no answer. Do not post what you ... |
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 Can an employer deduct taxes from cash wages? or basically once hes payed you cash? |
| So my bfriend and couple friends has been working at a company and when they first started, they began to pay them with cashiers check "under the table" [aug/sept]. Now they are doing &... |
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 Is 5,100 income per month enough to live on? |
for 2 adults and a baby?
Our rent is only $533.... |
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 If I am single and made about 11K income last year , paid about 300 in income tax,? |
| will I get one of those rebate checks? How much? I really need the money to get some new contacts as I can't afford to buy any new ones, I want to use the money for an eye exam and contacts ... |
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chef4133 | How much tax do you have to pay on money you recieved as a gift.? |
I know you can give someone up to $10,000 a year as a gift. But how much if you gave $150,000? Would it be considered income an the standard income taxes apply, or are the taxes different on large cash gifts? |
 |
 
Level 6 Troll
|
Consult a tax professional on this one, it isn't income, and it may not be taxable for either party. There are special tax rules for gifts as indicated in Publication 950.
This is what the IRS says:
<Quote>
IRS Tax Tip 2007-39
If you gave any one person gifts in 2006 that valued at more than $12,000, you must report the total gifts to the Internal Revenue Service and may have to pay tax on the gifts.
The person who receives your gift does not have to report the gift to the IRS or pay gift or income tax on its value.
</Quote> |
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skipper
 |
The person receiving the gift does not owe any tax on the gift.
The person giving the gist needs to file a IRS form 709 (Gift Tax Return) reporting the gift. The giver can give $12,000 a year to any number of individuals without having to file a report. The amount given to a single individual in excess of $12,000 per year is report and counts against the $100,000 lifetime exclusion. |
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Wayne Z
|
Receivers of gifts do not pay tax on the gift.
The Giver of a gift over $12000 must file a Gift Tax Return and may or may not have to pay gift taxes depending on how much they have already given away. |
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Judy1
 |
You don't pay anything on a gift you receive. If one person gives you ove $12K in a calendar year, THEY would have to file a gift tax return, and if any tax is due, they would be the one to pay it. |
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bostonianinmo
 |
You pay no tax on gifts that you receive, regardless of the amount. |
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PepsiLime
|
Person that receives a gift never has to pay taxes on the gift, no matter if it's 1 cent or 1 Trillion dollars. Person giving the gift can give up to $12,000 per year without triggering a gift tax return, but even if the person exceeds the $12,000 limit they would have to file a gift tax return, but have a $1,000,000 lifetime exclusion to draw against. |
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Mel
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I am not sure about US but in Canada you do not have to pay taxes on a gift or lottery winnings for 1 year. After that the taxes you pay would be the same as the tax bracket you would be in for making that sum of money in one year. So can be as high as 50%. May be different in the US. Also I believe amounts under $25000 are not subject to taxes. Best thing to do is if you get a large sum of money is to invest it as they cannot tax investments until youi cash them out. |
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FRANKFUSS
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Figure 45%. That is, if you declare it. |
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