Voluntary Tax

Posts Tagged ‘insurance’

income tax return:

Question by remembranze: When filing an income tax return, do I need to include insurance refund from auto accident?
When filing an income tax return, do I need to include insurance refund from auto accident? My car was total loss. My insurance pay off my loan for the car and gave me back $ 6000 after the payoff. Do I need to report this when filing my income tax return?

Best answer:

Answer by bostonianinmo
Assuming that they paid you the fair market value of the car, and that that was less than you paid for it in the first place, you do not need to claim that on your tax return.

Add your own answer in the comments!

voluntary tax deductions:

Question by Mary W: __________ is what an employee receives after deductions for taxes, insurance, and voluntary deductions.?
__________ is what an employee receives after deductions for taxes, insurance, and voluntary deductions.
a.)Gross pay
b.)Net pay
c.)Gross profit
d.)Net sales

Best answer:

Answer by PJ
B. net pay

Give your answer to this question below!

voluntary tax system

The Wealthiest Nation in the world, the wealthiest inhabitants in the world, the most giving and charitable people the world has ever known, all reside within the borders of the United States.

Taxation is a burden everyone has in this Great Country.

Ponder this; Could incentives, for donations through the IRS vs. mandating taxes potentially pay for True Health Care? Along with open borders for insurance, tort reform, Fraud identification, increased tariffs on overseas goods, etc and etc?

The Federal Government already provides incentives for charitable contributions. Could it be possible to ward off the ever rising costs of our Health Care System simply by making donations so popular that people, every day people, would want to donate?

Too simple?
Too complicated?

voluntary tax

I want to pay voluntary national insurance payments for this tax year. I’ve looked at HMRCs website and it says that you can do it by quarterly payments or by direct debit but some of the dates specified for these payments have already passed. Is it possible to start paying voluntary national insurance for this tax year and just pay higher amounts or will I have to wait until the next tax year in April 2011.

paystub

I have my last paycheck stub of the year, received 12/20/2006. I was wondering if it will be the same as my w2. I don’t pay into an IRA or 401K, my taxes are very straight forward and simple. I don’t even pay into health insurance. I just received my new paycheck stub for 2007 yesterday, 1/3/2007, and the amount I made for the pay period matched the Y-T-D information. Does that mean my w2 will match my last paystub? I’m considering filing with my last paystub. I’ve been at the same job for 6 yrs, and have my previous w2s to get the EIN. Is it legal to do that? Thank you.

voluntary taxes taken out of my check

My fiance and I are getting married in the near future. Currently I claim S1 and she claims S0. At my job they provide us with a payroll calculator that allows us to determine our net pay after we enter in all of out voluntary deductions, i.e. medical insurance, 401K, etc, and when I change the S1 to M0 my income goes up a couple hundred a month. (I get paid monthly). My question is why is this? How are taxes for married couples determined as opposed to single filers?

My next question is I currently make about 2.5x more then my fiance, will I need to have additional taxes taken out of my check in order to prevent owing any money next tax season?

taxes voluntary

__________ is what an employee receives after deductions for taxes, insurance, and voluntary deductions.
a.)Gross pay
b.)Net pay
c.)Gross profit
d.)Net sales

ca vdi FEDERAL DEDUCTION

I am approved for LTD. According to the cafeteria plan I signed up for, the disability insurance (LTD) benefit should be 60% of my annual salary. Since the employee deductions for the insurance were paid by me with after- tax dollars, the benefit should be tax-free (that is, non-taxable). However, now my employer is offsetting a CA VDI short-term disability benefit against it to the tune of 55% of annual salary for the next year and fully taxing (federal, state, and Social Security) that benefit. I also had to apply for Social Security disability. If I am approved for that, the benefit will be taxed. So my 60% "non-taxable" benefit is shrinking to about 40%. This seems very wrong to me. Any advice? Thank you.

irs voluntary tax

Two questions:

1) Many companies require employees to pay State Disability Insurance, SDI, while other require Voluntary Disability Insurance, VDI.

It appears that SDI payments are tax deductible on the Federal return but VDI are not. Why is this?

2) Are benefits paid under each of these plans taxable or non taxable?

thanks

payroll tax rates

In other words, there marginal income tax rates of 33% and 35% will go up to 36% and 38%, respectively.

PLUS, on social security (the "payroll" tax, which the government originally sold as "insurance" even though it gets minimal, sometimes negative, growth) Obama wants to lift the INCOME CAP (currently at 2,000); SO, those making > 0,000 (including many small businesses running as Subchapter S corporations) will pay an ADDITIONAL *6.2%* (out of the 7.65% payroll tax, 19% [the 1.45% rate] is for Medicare & the other 81% of it [at the 6.2% rate] is actually social security).

Therefore, again, ON TOP OF THEIR ALREADY HIGH TAX RATES, THEY’LL HAVE TO PAY 9.2% EXTRA ON EVERYTHING OVER 0,000.

http://online.wsj.com/article/SB122385651698727257.html

http://taxes.about.com/od/2008taxes/qt/2008_tax_rates.htm