I,m new to the lottery so i dont know how it quite works if you win i know you get taxed and stuff. but do they consider it income each time you file your taxes. say a person quit his job after he ...
Hi
I am a full time international student in Uk, I asked for getting exemption from paying council tax. I went to the city council in Glasgow and they told me I can not grant the exemption ...
The process for claiming your winnings has been made very simple so that by the end of one week at most, you are assured of having received your cash prize and all the legal documents backing your ...
okay so i'm 18. out of school, over the summer i worked at wendys to make a lil bit of money. i worked there for a lil over a month, because i got a better job offereing, and so i took it anyway....
what is the absolute latest taxes can be filed with extentions? I am asking this because my ex owes me A LOT of childsupport and his check was supposed to intercepted yet I havent received anything......
Is it really a smart thing to not pay off the mortgage because you get to deduct the interest on it? I dont see what the point of paying out extra money to the bank just to not pay some taxes to the ...
I was payed fulltime when i work part time. My employer said i can pay it back in installements. because i was given the gross amount and not the net amount, what the best way t o pay it back? over 2 ...
i made under 8,000 for the whole year and im a dependent of my mom...i filed two w-2's already...one for 5k and the other for 2k..i just receuved a w-2 from a job that i forgot about that i only ...
A parent can make a gift of $10,000 a year to a child every year for life, or a ONE TIME gift of $30,000 tax free.
Technically you would need to report the $9,500 over the ten thousand ($750 times 26 paydays). Does she send you a 1099 form? Does she deduct for SSI, Medicare, etc? Does she claim the expense as a deduction on HER taxes? If she does any of those then yes. And you'd be on the hook for taxes, interest and penalties.
Well, by law YES, your supposed to report this income to the IRS! They don't want anyone making money w/o them taxing it! If your mother is writing off that money as a business expense (And that is a large amt NOT to write off!) I'd report it. Because if the IRS ever audits her business, she will have to let them know where it went. Thus, it comes back to you!
kapn
Consider it a gift....and let it go.
Grandpa Mac
If you are her legal dependent and she claims you on her tax form, it is probably not taxable. If she is not claiming you and you are not doing work for the money, then the money is a "gift" and is taxable to the giver once it exceeds a certain amount each year (I believe you can give up to $12000 tax free every year).
been_there_done_that
um, yes....it is income....
just me
Yes
Trouble
NO, you don't.....
UNLESS she Reports it on a 1099!
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
