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No, you do not have to report money you receive as a gift as income. While any gift may be taxable, the recipient of the gift does not have to pay the gift tax. And the person who gives you the gift only needs to file a gift tax return if it’s more than the $18,000 annual...
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Many people spell Philippines as Fee-lippines because of all these taxes and fees one has to pay when traveling.
We prevent new tax liens from being imposed on you. We reduce the penalty fees you owe. We work with your auditors to reduce your tax burden. We set up a payment plan that works best for your financial situation. What Our Customers Are Saying ...
Still, even if notescrowed, most lenders still consider the amounts of property taxes and insurance premiums when calculating front-end and back-end ratios. Moreover, additional mortgage-related monthly obligations, such ashomeowners association (HOA) fees, may be included in PITI to calculate debt...
Financial aid (scholarships, fellowship grants, and teaching assistantships) that pay for higher education might be "free" to you, but you might have to pay taxes on this type of income. Generally, a scholarship for tuition expenses and fees is tax-free, but the payments for room and board...
There are many known factors you can include in your Social Security planning. You know your marital status. You can accessyour Social Security accountand/oruse a calculatorto estimate your benefits. You can make educated guesses about your life expectancy, how long you’ll work, and so on....
While you're dreaming of what you would do with all that money – like buying a new house, car, or maybe an island – how much do you really get after taxes? With a jackpot that high, it's safe to say that no matter how much in taxes is taken out, yo...
parking fees tires washes and more It takes much more recordkeeping over the year but may help you get significantly higher deductions. The choice between the standard mileage rate and the actual expense method depends on your situation. Generally speaking, if you use your car very frequently for...