Is this taxed?

Posted By: Cnn reporting on 2008-01-24
In Reply to:

Cnn is reporting tax rebate of $600 for individual and $1200 for couples. Is this something we have to turn around and pay taxes on like income would be?

Complete Discussion Below:

marks the location of current message within thread

Is this taxed? - Cnn reporting
- Yep! - nm - Laura
- This is something I would rather do without and the reason - Unbelievable
  - And that is precisely why they are giving it to - people who will spend it.
- Yes, it will be taxable. What a joke, huh???? - What tax break??
- Saw the news 5 mins ago, it is $300 indiv, $600 couple. nm - R
  - As of 1 minute ago, here's what they agreed on - What a mess!!
    - See, I knew if I posted after the noon news it would be different after the evening news! LOL nm - R
    - Did they say when we could expect this? - LinK
      - Checks could be in taxpayer mailboxes by June, according to an Associated Press report. - -nm
      - When you file your taxes - ERMT
        Great - Sounds good to me - LinK
- probably since any income is taxable - mdlfcrs
- Actually, I read it was $800 for individuals and $1600 for couples - ERMT
  - That was for Bush's plan, which they decided against - sm
    - OOPS!! Meant 300 per person and extra 300 - per child

The messages you are viewing are archived/old.
To view latest messages and participate in discussions, select the boards given in left menu

Other related messages found in our database

It's not your assets that would be taxed,
it's your income acquired from the services you provide using your assets. Now, I don't know about other states, but I do not think that services are taxed in my state (to the consumer utilizing the services), but the business providing the services definitely is required to pay income taxes. Just like with my transcription service. I do not charge anyone taxes on the service fees, but I do have to pay income tax.

You will be taxed on capital gains
nm

Would you also want your income taxed at the 40% rate?
At one time England did that. The friends we had in Cananda said they were taxed to death on their income, but they were pretty pleased with their healthcare. There is no easy solution.