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Can tax exempt income qualify as support?
Need more info to answer properly, but if I understand what you're asking: Income that is not subject to income taxes (tax exempt investments, inheritance income from an estate, life insurance proceeds, etc) can certainly be considered income to support oneself - (IE If someone asks how you support yourself when you have no job... you may have income sources that are tax exempt that provide you with enough income to live a very comfortable lifestyle.) If you're asking for purposes of support as in child support or spousal support - then I believe that is negotiable prior to settlement of the divorce / child support case. If you're asking if tax exempt income qualifies as income for a dependecy exeption, then the answer is yes. So long as the income is enough to cover 50% of the expenses to maintain the household / provide for the child, etc.
How do you claim child support on your income tax return?
Child support is not income to the recipient or a deduction for the payer. Spousal support, also called maintenance or alimony, is income to the recipient and deductible for the payer.
What is Before tax income after tax income?
Before tax income is gross income less allowable deductions and rebates = assessable income. After tax income is assessable income less the applicable income tax
What kind of income tax is based on your taxable income?
Income tax IS based on your income that is why it is called INCOME tax.
Is Payroll Tax considered Income Tax?
Yes. Any tax on income is income tax. Taxes imposed after income, such as sales tax, aren't.
Do you get tax credits if you pay child support?
No tax credit and no tax deduction on your income tax return for child support payments.
Is spousal support tax deductible?
Spousal support payments would not be deductible on your income tax return. Only Alimony payments would be deductible on your 1040 income tax return.
Why did the progressives support a graduated federal income tax?
to pay for programs to help all americans - apex
How do you get your tax info to file your child support for2009?
Child support received or paid is NOT reported on your income tax return.
Why did the Progressives support income tax?
The progressives supported income tax because they hoped the income tax would enable the government to lower tariffs. They also believed the taxs on incomes were faier.
Can you get child tax with no income but child support?
No, children are not taxed.
In Michigan do you have to pay income tax on child support received?
If you were a resident of Michigan or had taxable income from sources in Michigan, then yes.
Why do you claim child support as income for section 8 housing?
Probably because the rules for the section 8 housing program requires you to report the child support payment as a part of your income when it is received. For income tax purposes on your federal income tax return child support is NOT TAXABLE income that you would report on your 1040 tax form.
Can tax exempt income qualify as support?
Need more info to answer properly, but if I understand what you're asking: Income that is not subject to income taxes (tax exempt investments, inheritance income from an estate, life insurance proceeds, etc) can certainly be considered income to support oneself - (IE If someone asks how you support yourself when you have no job... you may have income sources that are tax exempt that provide you with enough income to live a very comfortable lifestyle.) If you're asking for purposes of support as in child support or spousal support - then I believe that is negotiable prior to settlement of the divorce / child support case. If you're asking if tax exempt income qualifies as income for a dependecy exeption, then the answer is yes. So long as the income is enough to cover 50% of the expenses to maintain the household / provide for the child, etc.
Rent is income-based do you claim child support as income?
No. For income tax purposes on your federal income tax return child support is NOT TAXABLE income that you would report on your 1040 tax form. Gross rental income and expenses are reported on the schedule E of the 1040 tax form and then then the net rental income is entered on page 1 line 17 Rental real estate, etc, Attach schedule E.
How do you claim child support on your income tax return?
Child support is not income to the recipient or a deduction for the payer. Spousal support, also called maintenance or alimony, is income to the recipient and deductible for the payer.
Did populists support?
They wanted the government to create a graduated income tax.
