Do you have to claim child support as income on taxes?
Do you have to claim child support as income on taxes?
Child support payments are neither deductible by the payer nor taxable to the recipient. When you calculate your gross income to see if you’re required to file a tax return, don’t include child support payments received.
What’s the most you can pay in child support?
They must first sue you, win the lawsuit, and get the court to issue a wage garnishment order against you. Once they jump through all of these hoops, the amount they can garnish is limited to a maximum of 25% of your disposable income.
What bank does Bill Gates use?
Cascade Investment
| Type | Private |
|---|---|
| Founded | 1995 |
| Founder | Bill Gates |
| Headquarters | Kirkland, Washington , United States |
| Key people | Bill Gates (Chairman) Michael Larson (CIO) |
Will the bank ask where you got money?
Yes they are legally entitled to ask how you got it in case you are evading tax. It is also part of the EC Money Laundering Laws. It is a requirement that banks ask.
How much money can you put in a bank without questions?
There is no limit on how much anyone, resident in the UK, can have in their bank account in the UK. However, once you get above £85,000 in a bank, you should start moving it into accounts with other banks because of the compensation limit from the FSCS if a bank goes bust.
How much cash can you legally carry on your person?
Here’s what the U.S. Customs and Border Protection website writes: “It is legal to transport any amount of currency or monetary instruments into or out of the United States,” But anyone carrying more than $10,000 must declare the amount by filing a Report of International Transportation of Currency or Monetary …
How much money can I put in the bank?
In short, there is no limit on the amount of money that you can put in a savings account. No law limits how much you can save and there’s no rule stating that a bank cannot take a deposit if you have a certain amount in your account already.
How much cash can you pay in at the post office?
For Personal Current Accounts and Joint Current Accounts you can deposit cash at the Post Office free of charge. A number of limits to the amount of cash you can deposit exist: A maximum of £20,000 per calendar year. A maximum of £5,000 per single deposit.
