Recieved gift of 5,000 from ny relative when she died~~i live in pa.~~what are my tax responsibilities?
Answers: Serge & wartz are incorrect, vb is correct. Inheritances are never taxable to the recipient on the federal level, but Pennsylvania does tax inheritances on the state level to the receipient.
I've received $11,999 a year from a family trust and have never had to claim anything. Enjoy!
Why is everything increasing but not my income?
1 year ago I paid 75cents for my coffee, 2.00 for my sub, 2:00 for my gas, 2.20 for my milk. Today I earnings 1.35 for coffee, 3.20 for my sub, 2.98 for my gas and 3.50 for my milk---and my pay at my place of employer is equal. The repulicans are telling me that this is awsome, this is great for america we foot less tax's. How is that possible when everything go to IRAQ? Everthing is increasing, but our income stays the same?Answers: I dont suggest its all going to iraq, I ruminate the washington pork barrel is taking alot of your excise dollars. Stupid, wasteful spending. The elected official are not looking out for the tax payers, they are looking out for themselves. Did you know foreign students who come here for college are given pell grant and they dont have to remuneration it back. The merely stipulation is that they apply for the grant formerly comming here on a student visa. Thats your tax money going to train foreign students. Thats just one example of how washington wastelands your money.
Welcome to the recession that the government keep telling you is not stirring.
We are in a recession right very soon no matter what anyone say. It is right there contained by black in white contained by you account books. You in recent times proved it.
Welcome to life. In UK we discharge the equivalent of $7.50 for a Gallon of gasoline, a year ago it was almost $5.50. You are very lucky!
Who is allowed to receive Bush's tax rebate, what does one have to do to get it?
Answers: The law hasn't passed yet. There is one proposal that Bush and the House of Representatives decided on, but the Senate has not passed it. Instead they are trying to change it. Once it is voted on, you won't need to do anything to get it except file your 2007 taxes. If you meet the criteria (are a taxpayer with income within an average range) then you will get the tax rebate check mailed to you around May or June (after all taxes are filed).
A. You must file a tax return.
B. Depending on the version that gets passed, Most taxpayers making less than $75, 000 will get $500 or $600 and possibly $300 per child. Couples filing jointly must make less than $150,000 to get $1200 back under the plan most likely to pass.
The House has passed a tax rebate bill currently being considered by the Senate. If a tax rebate passes, you will have to do nothing to get it. It will come to you automatically.
Under the terms of the House bill, you would be eligible to receive a rebate of up to $600 if you paid that much in Federal Income Tax. If you only paid $350 in taxes (less than the $600 rebate limit), you only get back $350. If you had earned income of at least $3000, you would get at least the minimum rebate of $300.
While the rebate depends on your 2007 income, it is actually a rebate toward your 2008 taxes. According to the proposed plan, in 2008, taxes would be cut from 10 percent to zero percent on the first $6,000 dollars of taxable income for individual taxpayers.
It's like a one time tax cut for 2008, but you get the rebate now instead of waiting to file your 2008 taxes. Because this is an advance payment on your 2008 taxes, your refund next year could be more (or less!) depending on your 2008 income.
Nothing has passed Congress yet, so all details are subject to change. Check out the referenced site below for an automated estimate of your rebate.