You are to present the results of your calculation, the. total cost to the customer, the steps the service manager would oversee the. technician performing, and an outline of how the service manager would determine. if the work had been performed to the customerâs satisfaction.
State Income Taxes and Federal Income Taxes. In general an inheritance in and of itself is not considered income, so you won't have to report your inheritance on your state or federal income tax return. However, the property that you inherit may have built in income tax consequences. For example, if you inherit a traditional IRA or 401(k), then you will have to include all distributions you take out of the IRA or 401(k) in your ordinary federal income, and possibly your state income, during the year in which you take the distributions.
Under federal and state income tax law, alimony is deductible by the payor spouse and reportable as income to the dependent spouse, provided that the following criteria are met: 1  the payments are in cash and not in kind. 2  the payments are made incident to divorce or to a separation agreement.hile the parties may privately agree that the tax deduction and the taxable income aspects of federal alimony law shall not apply, the parties may not by private stipulation create âalimony paymentsâ that do not meet the five federal criteria and yet attempt to obtain the tax deduction for the payor.