What is the Difference Between Inheritance Tax and Estate Tax? The property and assets that a person leaves behind after death may attract estate tax and inheritance tax. How much inheritance or estate tax is charged depends on the state in which you reside, and the value of the property/money left behind. It is essential…
Artists often have multiple income sources and usually, one of them is royalty. Royalties are considered earned income by the IRS and attract taxes the way ordinary income does. If you are an artist such as an author, musician, songwriter, or singer; your income from royalties is taxable. How much in taxes you need to…
