Do You Pay Tax on Selling Scrap Metal

If you sell scrap metal for profit, you may need to pay taxes on the proceeds. The taxability of scrap metal sales depends on several factors, including the frequency of sales, the amount of profit made, and the specific laws and regulations in your jurisdiction. In some cases, selling scrap metal may be considered a … Read more

Who Owns Nyc Taxi Medallions

Taxi medallions in New York City are a limited-entry system operated under the Taxi and Limousine Commission. This means that a fixed number of medallions are issued by the city and they are required for any vehicle to operate as a taxi in the city. Due to the limited supply and high demand for medallions, … Read more

How Do I Avoid Estate Tax in Ny

In New York, several strategies can be employed to minimize or even eliminate estate tax liability. One effective approach is making lifetime gifts, which can reduce the value of your taxable estate. Establishing a revocable living trust can also be beneficial as it allows you to transfer assets into the trust while maintaining control over … Read more

Does Everyone Get the Child Tax Credit

The Child Tax Credit is a tax credit that helps families with the cost of raising children. It is available to most families with children under the age of 17. The amount of the credit depends on the age of the child and the family’s income. Families can receive the credit even if they do … Read more

Does a Nonprofit Pay Capital Gains Tax

Nonprofits can also generate revenue from selling investments. This is known as capital gains. When a nonprofit sells an investment, such as a stock or bond, that generates income. Nonprofits are not exempt from paying capital gains taxes. However, they are taxed at a much lower rate than for-profit companies. For most nonprofits, the capital … Read more

Are Hsa Contributions Pretax or Posttax

HSA contributions are generally made on a pre-tax basis, meaning the amount contributed is deducted from your paycheck before taxes are calculated. This reduces your taxable income, potentially resulting in lower tax liability. However, some HSAs allow for post-tax contributions, where you contribute after-tax dollars. While these contributions do not reduce your current taxable income, … Read more

When Was Ataxia First Discovered

The first recorded instance of ataxia was described by the ancient Greek physician Hippocrates in the 4th century BCE. He observed a patient with “a staggering gait, difficulty with speech, and tremors of the hands.” The term “ataxia” was coined in the 19th century by the French neurologist Jean-Martin Charcot, who used it to describe … Read more

Are Garden Expenses Tax Deductible

Gardening expenses may be tax deductible under certain circumstances. If you use a portion of your garden to grow produce for sale, or for use in a business, you may be able to deduct expenses related to the gardening activity. These expenses can include the cost of seeds, plants, soil, fertilizer, and other supplies. You … Read more

Are Tips Good for Taxable Accounts

Tips are considered taxable income subject to taxation, regardless of the account type they are deposited into. They should be recorded as earnings and reported as income on an individual’s tax return. Taxable accounts, such as brokerage accounts or traditional IRAs, do not provide tax advantages for tips received. Any tips deposited into these accounts … Read more