The Tax Questions Blog

Archive for April, 2010

Question: What is the standard tax rate for income received from an estate trust?

I am going to be receiving ongoing income from my grandfathers estate. I have been told that it is taxable because it is classified as income not an inheritance since it is income earned by the estate since his death. I an trying to get an idea of what tax rate I should expect to pay. I do not know yet exactly how much I will be receiving.

Answer: Unless it's a capital gain, it's going to be taxed at your ordinary income rate (like a bonus at work).

If the amount is significant, consider estimated tax payments.

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Calculating Estate Tax Liability: 2001 to 2011 and Beyond This report provides a basic explanation of how to calculate the federal estate tax liability for a taxable estate of any given size, using the schedule of marginal tax rates and the applicable exclusion amount or the applicable credit amount for the year of death. The applicable exclusion amount is the amount of any decedent's taxable estate that is free from tax, known informally as the estate t...

(AFX UK Focus) 2010-04-20 03:34 Glance-PRESS DIGEST - Financial Times - April 20

Tuesday April 20 2010

Estate Planning : Estate Planning & Asset Protection

DST Systems, Inc. Announces First Quarter 2010 Financial Results

Consolidated net income for DST Systems, Inc. was $76.9 million for first quarter 2010 compared to $73.2 million for first quarter 2009. Â Taking into account certain non-GAAP adjustments explained herein, consolidated net income was $53.8 million for first quarter 2010 compared to $41.6 million for first quarter 2009.

Central Valley Community Bancorp Reports Earnings Results for the Quarter Ended March 31, 2010

FRESNO, CA--(Marketwire - April 22, 2010) - The Board of Directors of Central Valley Community Bancorp (Company) ( NASDAQ : CVCY ), the parent company of Central Valley Community Bank (Bank), reported today unaudited consolidated net income of $1,292,000, and diluted earnings per common share of $0.13 for the three months ended March 31, 2010, compared to $1,259,000 and $0.16 per diluted common ...

Question: i need help with algebra word problems(10 points best answers)?

solve the problems:
#1) Mardi received an inheritance of $60,000. She invested part at 9% and deposited the remainder in tax-free bonds at 12%. Her total annual income from the investments was $6000. Find the amount invested at 9%.

#2) In a chemistry class, 3 liters of a 4% silver iodide solution must be mixed with a 10% solution to get a 6% solution. How many liters of the 10% solution are needed?

#3) Persons taking a 30-hour review course to prepare for a standardized exam average a score of 620 on that exam. Persons taking a 70-hour review course average a score of 764. Find a linear function S(t), which fits this data, and which expresses score as a function of time.

#4) Martha can rake the leaves in her yard in 6 hours. Her younger brother can do the job in 7 hours. How long will it take them to do the job if they work together?

THANKS FOR YOUR HELP!

Answer: 2.
let x be the number of liters to be mix in the solution
4%(3) + 10%(x) = 6%(x + 3)
0.04(3) + 0.1x = 0.06(x + 3)
0.12 + 0.1x = 0.06x + 0.18
0.1x - 0.06x = 0.18 - 0.12
0.04x = 0.06
x = 1.5 liters

4.
1/6 + 1/7 = 1/x
7/42 + 6/42 = 1/x
11/42 = 1/x
42/11 = x
3 9/11 = x

approximately 3 hours and 49 minutes

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One long tax season is over, but another has just begun

The tax season headache has passed, but taxpayers’ stress could intensify this year amid possible tax increases and uncertainty that confounds planning.

Bond Investing : How Do Tax-Exempt Bonds Work?

Question: What does IRS stand for?

the one that does taxes and everyone hates for some reason

Answer: internal revenue service

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POLITICAL HOT TOPICS: Thursday, April 22, 2010

The CNN Washington Bureau’s morning speed read of the top stories making news from around the country and the world. WASHINGTON/POLITICAL For the latest political news: www.CNNPolitics.com CNN: Senate panel approves Wall Street reform bill A Senate committee on Wednesday passed a proposal aimed at helping protect the economy from future meltdowns and taxpayers from ...

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