 Why is Social Security capped at $97,500? |
| I realize that amount will increase a little bit next year, but why is it capped at that amount? Pretty much everybody that makes over $100,000 per year isn't going to miss that amount, while ... |
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 I have received a summons to court for non payment of council tax? |
| but its for this year.why if i have until31.03.08 to pay for it have i received this summons?... |
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 What can you deduct for a mary kay business? |
| I'm considering starting a Mary Kay business and wanted to know all the tax deductions that are possible. I know there are 41 but I can't find any.... |
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 Why are we all forced to pay out over 56% of our wages in Taxes? |
| During the Boston Tea Party, the early americans through Tea into the Boston Harbor because of a 1/3 of 1% tax which they called "tierany." If 1/3 of 1% was unacceptable, what would they ... |
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 My ex and i have 2 kids....we decided that everyother year we would claim both kids? |
| last year he claimed both...and i was to claim both this year....now he is telling me that i cant because they live with him last year and hes going to!...can he claim them both years...we have no ... |
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 Does the 16th Amendment specify what is to be considered as "income," is all labor earnings considered income? |
| I know that the 16th authorizes the government to levy taxes on income, that is not the issue, the issue is that wages earned from working is not income, it is technically an equal exchange of ... |
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 Shouldn't we be able to deduct tips left at restaurants from our taxes, as they are someone's salary? |
| A tip you leave at a restaurant is the server's wages. In fact, it even gets taxed. So basically tips are taxed twice, from the tipper and the tipee.... |
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 Race and income tax question? |
is racial classification a factor when determining:
-how much income tax a person pays
-or what tax bracket a person is in
???
thank you in advance.
... |
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 Should there be just one tax band of 10%? |
any thoughts on this?
And I mean, EVERYONE pays, no exceptions, no loopholes, no get out clauses... everyone in the country pays one low rate of 10%
Consider it for a moment, ... |
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 So there is NO income tax law? |
that requiers you to pay income tax now knowing that is there any way to get away from paying that income tax avery week on your pay check?
Additional Details
that requiers you to pay ... |
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 I think there's a conspiracy against me? |
| I became unemployed/retired November 2007. I applied for unemployment insurance benefits. They denied it and I appealed. I won the appeal. Within one week of me winning my appeal I had the C... |
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 I recieved an email from the IRS and I wanted to know if this is a real email from them. Can you help? |
| After the last annual calculations of your fiscal activity we have determined that you are eligible to receive a tax refund of $116.40. Please submit the tax refund request and allow us 6-9 days in ... |
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 Do you have to file your w-2 if its based on just one paycheck? |
| i recieved my W2 last month but havent filed it yet since it was based on my 450 paycheck from last december. the federal social medicare come out to about 50 bucks and my stae tax is less than 15 ... |
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 Rebate stimulus checks? |
| i want to check when i will receive my stimulus rebate ... |
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 Ok its May 30 and wheres the stim tax check? |
They said on the news and site go by last 2 dodgets of ss# and Iam o6 wheres mine and has anybody got deposit yet? it would be nice if somebody got it !
Additional Details
Duh I feel ... |
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 Is there aby way to opt out of Social Security for an employee? |
| To me Social Security is a waste of my money. I cant retire till I am 70 and by then , there will be nothing left. If I invest or even bank that money, I will be getting a lot more productivity out ... |
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sweetdebbiefrommt195... | My mom recently passed away and she left me some money do i have to pay taxes? |
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les0581
 |
Generally, if you receive the proceeds under a life insurance contract because of the death of the insured person the benefits are not taxable income and do not have to be reported. Any interest you receive would be taxable and would need to be reported just like any other interest received.
However, if the policy was transferred to you for valuable consideration, the exclusion for the proceeds is limited to the sum of the consideration you paid, additional premiums you paid, and certain other amounts. |
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Theebis
|
If it's a cash inheritance, then you do will not have to pay tax on it in Canada.
The Canadian tax system only taxes dollars once. Your mom would have paid tax on that money when she first earned it.
You will however have to pay tax on any interest that this income generates.
In Canada cash inheritance and gambling winnings are NOT taxable. |
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Elna W
|
Probably, yes
It depends. If you had a joint tenancy you are now the owner and would pay tax from the date the money/securities, etc were purchased. (capital gains).I fell into this trap. My mother had me as joint owner on some Series E bonds and when I cashed them in I paid about 90% in capital gains. If you inherited it you would pay inheritance tax. There is a ceiling on this--you pay the tax for amounts over something like 600,000. You really should talk to a tax expert. |
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Steve H
 |
i think it depends on how much she left you. I remember hearing something in law and economy. Something like you dont have to pay taxes on inheritance on anything under either 5,000 or 500,000 dollars. Its a little fuzzy but i definitely remember it being something like that. I would haved checked online but i didnt know where to look at the moment. |
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Jimmy Dean
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It depends on what form the estate is in, the country you are in, and what the will says.
.
In Canada, cash from a chequing account, probably not, but there is a chance that other assets in the estate would require tax to be paid, which would deplete the cash account when the taxes are paid.
. |
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jojo
 |
Money that is inherited is not taxable. Same as lottery winnings.
You will only pay taxes in the following years on any interest that you earned when you are issued a T5. |
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ebay_convert
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Yes you do, but if you put the money into an IRA you can differ the taxes. Talk to your bank, they can help with this. =o) I'm sorry for your loss.
Good Luck! |
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Joseph, II
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Probably. Go to a local income tax preparer (Do they have H & R Block in Canada?) & tell them your situation. Not only will they be able to help you, but they'll make SURE you get to keep all the money you're entitled to... Good luck...-And I'm sorry to hear about your Mother's passing. |
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CLICKHEREx
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Just phone the Taxation Department and ask them! They should be in the phone book under Government listings, or use your Canadian internet phone site. |
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