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Yes, it is.
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What happens to the percentage of an income that is taxed when income rises and the tax is a proportional one?
The percentage of an income that is taxed will stay the same when income rises until that income reaches a certain point set by the government. A higher tax bracket may mean a higher portion of the income will be taxed.
What is the point of a w-4 form?
Tax purposes. It's to see how much you are to withhold from government taxes for purposes like family. If you claim 0 you are not claiming anyone, even yourself and more than likely will end up with more money on your tax return though each pay period you will be taxed more. If you claim 1+ you will be taxed less during each pay period but may receive less on your tax return and even owe the government.
How much would you pay if something cost 800.00 and you were taxed 15 percent?
$120.00
How much tax would you pay if you won 1.5 million dollars?
If you win 1.5 million dollars in the lottery, 35% of the money will go to the government and a certain percentage will go to the state (this percentage is state dependent). For example, if you won the 1.5 million dollars while living in Arizona, you would be taxed 35% by the government and 5% by the state, leaving you with about 900,000 dollars.
How people use math in money?
Money is a quantified unit of dollars and cents, or whatever currency that is in use in your country. Math is used at the following places: Stores: The computer tallies the total amount of the prices of the items that you buy. You hand over money and get change back.. Banks: Deposits, withdrawals, and interest rates require math to calculate. Stock Market: The price of stocks, as well as other parameters for a publicly traded company is based on some very complicated mathematical models Business (in general): Revenue - costs = profit is pretty simple, but costs can be complicated to figure out. You have production costs, materials cost (if applicable), labor cost + benefits cost for those employees, facilities (lease, rent), electricity, etc... Employee Paycheck: In the United States, we have something called an income tax where a portion of one's income is taxed at a certain percentage based on how much one makes. There are federal and state income taxes, social security taxes, medicare, disability, healthcare contributions, etc. All of these require math to calculate. The biggest thing to remember is when money is involved, there is no limit to the amount of math that can be used to keep that money.
Will the money you receive from the national mortgage settlement be taxed?
No court award are not earned income.
After winning a large sum of money after sueing a bar does the government tax that money?
Yes the money you've earned will be taxed when you spend it.
When I sell my business how is that taxed?
baby you can give me some money when your done! :)
If joint account with adult son will large deposit by you be taxed if he uses it to make a home loan down payment?
Money is taxed when you earned, not when you put it in the bank. Only the interest earned on the deposit would be taxed. When you buy a house there is no sales tax at this time.
Is a federal tax refund taxed?
No its not taxed. When you receive your refund, you will notice that their nothing withheld from your refund of any sort. You definitely do not have to report your refund to the IRS-its your money that you earned.
Do you get taxed on money saved?
Not taxed again on the after income tax money that you have saved but you are taxed on the earnings from the after income tax saved money.
Is workman's compensation taxed as earned income?
No
How much of a business's income is taxed?
The amount that a business's income is taxed depends on which of the eight tax brackets they are in which are based on overall profit. They can be taxed from 15% to 35%.
Do footballer pay tax?
In the United States footballers get no special treatment. They pay taxes like anybody else. Money earned by playing football is taxed like any other wages are taxed in the United States.
If George earned $50,000 and was taxed $7,500, while Julia earned $80,000 and was taxed $9,000, what type of income tax structure exists in their country?
regressive income tax
Winnings in California game show is taxed where?
Taxed as ordinary income and sourced to where earned, (Calif) for state purposes.
Why do you need to report interest paid or earned on life insurance?
Whole life insurance also has an investment component, so money made on the investment is taxed. If you have term insurance, then there is no interest earned, since it is strictly insurance.
