Sentences with phrase «avoid paying taxes on the money»

Trombetta pleaded guilty to federal tax fraud because he allegedly avoided paying taxes on money he siphoned from the school to buy a Florida condominium, houses for his mother and girlfriend, and nearly $ 1 million in personal purchases.

If your investment can avoid paying taxes on the money you use to purchase it, this enemy goes away.

Not exact matches

Policymakers have bemoaned that companies make money in foreign companies but avoid having to pay federal tax on that income, which robs the U.S. Treasury of revenue.

Why pay taxes on that reinvested money, why not just keep it in the company and avoid taxes until you need the cash?

With a couple thousand dollars from my summer job life guarding (more to come on this in a future post), I opened up a US Federal Treasury Money Market fund that enabled me to avoid paying any taxes.

October 4, 1992, AP Joseph J. DioGuardi, who is seeking election to a House seat he lost amid charges of campaign finance irregularities, tried to avoid paying taxes through an investment scheme designed to lose money, according to U.S. Tax Court records... In 1978, DioGuardi was a partner in Daga Financial Co., which bought and sold options and futures on stocks and securities, according to court papers.

The leak of some 13.4 million records, dubbed the Paradise Papers, lifts another veil on the often murky ways in which the wealthy — including more than 3,000 Canadian individuals and entities — stash their money in offshore accounts to avoid paying taxes.

I would like to avoid finding myself in the position of paying increased taxes on money that «passes through me» so to speak.

By contributing to a SEP IRA or Solo 401k, you can defer some of that money into the future and avoid paying taxes on it today.

TFSAs are a great way to pass on wealth to your heirs in a tax - efficient manner — not only will they avoid paying capital gains tax on the growth of your investments before your death, but if you designate them as beneficiaries, the money will bypass your will.

You may also be able to avoid paying tax on some or all of your scholarship money.

This not only avoids the normal 10 % penalty for early withdrawal from an IRA, it spreads your withdrawal out among so many years that you end up paying a * much * lower tax rate on the money withdrawn compared to drawing it down in your retirement years.

The Roth IRA is a special type of retirement account that makes it possible to avoid taxation on investment returns because you invest with money that you have already paid taxes on in the present.

If some of these countries have treaties with Australia - you can use the treaties to avoid double taxation, but if these countries don't have tax treaties with Australia - you'll end up paying taxes twice on the same money.

You'd pay taxes on the lower rates now, reinvest that money at a higher cost basis, and avoid the higher rates later.

Understanding how tax is calculated on income and gains can help you avoid paying more than you are required to pay in taxes; smart tax planning that considers your entire financial picture can save you money.

Your contributions won't avoid taxes entirely; you'll pay income taxes on any money you withdraw from your traditional 401 (k) or IRA in retirement.

You'll avoid paying taxes on the earnings, reap potentially large state tax benefits depending on where you reside, and you'll have the ability to transfer the money to a different beneficiary (like your children or future children) if you don't use the money yourself.

Now, no one is foolish enough to assume that this will eliminate all the foreign buyers from the Canadian market, but those who want to avoid paying tax on the sale of the property that they do not live in, may end up looking elsewhere to park their money.

You shouldn't expect impressive capital appreciation, but you don't have to pay tax on the imputed rent (the rent money you avoid paying by owning the place yourself).

The key benefit of both accounts is that they allow you to avoid paying taxes on your investment gains as long as your money remains in the account.

Reporter Aaron Elstein writes that the case appears to mark the end of an extensive government crackdown on wealthy families and their advisers who avoided paying taxes by parking money offshore.

It's also important to have a plan to refund this money within the 60 - day requirement to avoid paying taxes and a penalty on your withdrawal.

You also avoid taxes on the money you put into the account, providing serious savings over paying your medical bills with your after - tax dollars.

I am an agent but won't take a commission on the deal so as to avoid paying income tax on 1031 money.

Whether it is accepting part of the purchase price in undisclosed cash on a commercial deal to avoid capital gains taxes, or refunding large deposits for a failed purchase made in a false name to «layer» the money or leasing out properties for highly inflated monthly rents paid in cash (& there are a dozen more ways to do it but you have to take my course to find out the rest).

Lastly, you may be able to avoid paying taxes on the sale of a rental property if you sell it and promptly reinvest the money in another property (called switching or tax - free exchange).

There are lots of situations where we can help, including... avoiding foreclosure, divorce, relocating, inherited an unwanted property, needing a short sale, owning a vacant house that costs money to keep every month, upside down in your mortgage, behind on payments, owe tax liens, downsized and can't sell your house, house needs repairs you can't pay for, fire damaged, bad rental tenants, and more.