Why is there a deadweight loss on personal income tax?

Answer There are deadweight losses on almost all forms of taxation and the personal income tax is no exception to this rule. The reason why is that income taxes change behavior and taxes which change beha... Read More »

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How to Report a Loss on a Stock Sale on Your Personal Income Taxes?

Stocks are a common investment vehicle. Stocks can help fund retirement, college educations and many other dreams and desires. Stocks can gain value over a period of time, but they can also just as... Read More »

If one received a financial compensation for loss of limb from an insurance company is that money taxable and should it be included as income for income tax in Ontario Canada?

That is going to depend on your destination. For example, if you are flying into the United States you could opt to get travel insurance from American Visitors Insurance, a well known travelers' he... Read More »

Is there a minimum income to file for earned income credit?

There are no minimum income level requirements to file for the earned income credit. According to the Internal Revenue Service (IRS), several rules are in place regarding earned income tax credit e... Read More »

How is Loss of Income Insurance calculated?

I don't know how insurance calculate it, i think they should go after gross income instead of net income