Are Automobile Insurance Proceeds Taxable?

Answer After you've been in a car accident, the last thing you want to do is worry about how the insurance money will affect your taxes. Unfortunately, without proper planning, you may have a tax burden y... Read More »

Top Q&A For: Are Automobile Insurance Proceeds Taxable

Are Aflac cancer insurance proceeds taxable?

According to Bankrate, you do not have to pay taxes on insurance payments unless your employer paid the premiums. This applies to Aflac cancer insurance. If you paid for it, you will not have to pa... Read More »

Are proceeds from life insurance taxable income?

On One Hand: Life Insurance Proceeds Are Not TaxedLife insurance beneficiaries are generally not required to pay income taxes on the proceeds they receive. This includes life insurance proceeds tha... Read More »

Are proceeds from a life insurance policy taxable?

The dividends earned each year on life insurance are taxable by the IRS in that year. However, life insurance proceeds paid upon the death of the policy owner are not considered income, and are not... Read More »

Are Life Insurance Proceeds Taxable in New York State Estate Tax?

In 2004, New York established the state exemption for estates at $1 million. This amount is much lower than the federal exemption for estates. However, the state of New York still requires the esta... Read More »