With the tax deadline [1] just a couple days away, finishing your taxes is a pretty common theme across America right now.
In fact, the White House [2] just released the tax returns for the Obamas [3] and the Bidens [4].
If you are the President, you have to pay tax. Here are twelve more situations you may need to pay taxes.
Do You Have to Pay Tax if…
- Do You Have to Pay Tax on Credit Card Rewards? [5] Sign-up bonuses are taxable as ordinary income. In contrast, you do not have to report or pay taxes on cash back rewards for using credit or debit cards.
- Do You Have to Pay Taxes on Extra Income? [6] Income is income, no matter if it is through a full-time job, part-time job, or from mowing someone’s lawn. Once you meet the minimum income to file taxes [7], then you need to include any of your extra income.
- Do You Have to Pay Tax on Gambling Winnings? [8] Gambling winnings are fully taxable and must be reported on your tax return.
- Do Your Kids Need to File and Pay Taxes? [9] If your kids earn interest and dividends, or have a job, check out the requirements for filing taxes.
- Do You Have to Pay Taxes on Alimony? [10] Alimony is taxable to the recipient in the year it is received.
- Do You Have to Pay Taxes on Unemployment? [11] You do need to pay taxes on unemployment income.
- Do You Have to Pay Tax on Class Action Lawsuit Settlements? [12] Whether or not your class action lawsuit money is taxable depends upon the nature of the lawsuit and of several other factors.
- Do You Have to Pay Income Tax on Social Security? [13] If you have other income besides your social security, you might need to pay tax on your Social Security.
- Do You Have to Pay US Income Tax if You Are Living Abroad? [14] As long as you are a US citizen or resident alien, you will need to file a US tax return.
- Do You Have to Pay Taxes on Bitcoins? [15] Profits and losses will be subject to capital gains rules for US citizens. Yes, you will owe tax on Bitcoins.
- Do You Have to Pay Taxes in Jail? [16] Prisoners are obligated to pay taxes despite being behind bars.
- Surprising Things That Count as Taxable Income [17] Generally speaking, the IRS taxes anything that leaves you in a better economic position than you were before you received it.
How Do You…
Now that we know when we may have to pay tax, here is a great collection of popular how to tax articles to help you finish your tax return.
- How to Calculate Self Employment Tax [18]
- How Do Tax Brackets Work? [19]
- How To Sign a Tax Return for Someone Else [20]
- How to Claim the Health Insurance Premium Tax Credit [21]
- How Long Does it Take to Get Your Tax Refund Back? [22]
- How Much is the Tax Penalty for No Health Insurance in 2014? [23]
- How to Deduct Mileage on Your Personal Car [24]