Sentences with phrase «for paying taxes on that money»

In the calculations for taking the penalty, you discuss the penalty of 10 % as a con; but you are leaving out the calculation for paying taxes on that money as well.

Not exact matches

Let that money sit for a while, and you'll most likely pay no more than 15 % in taxes on its growth, as the long - term capital gains tax for most people is far lower than taxes on regular income.

«There won't be enough money in the government to allow for a tax cut and fiscal stimulus program if in effect the government can't even pay the interest on the debt without borrowing the money.»

One area of contention is the matter of Apple paying taxes on the profits it recorded in Ireland as well as sending money back to the US to pay for research and development.

If the 8,000 Canadians who received stock options as part of incomes over $ 250,000 paid taxes on this money at the same rate as the rest of their income — treating executive compensation the same way you treat the income of any other working stiff — it would have raised $ 337 million for federal coffers in 2009, a down year for options.

My husband says I am responsible for paying income tax on the money I made, but I disagree - this is just my hobby, not a business.

A portion of that money is paid to the IRS — a maximum of $ 9,900 per gold medal, $ 5,940 per silver medal, and $ 3,960 per bronze medal depending on each athletes» individual tax circumstances, according to the non-profit group Americans For Tax Refotax circumstances, according to the non-profit group Americans For Tax RefoTax Reform.

For many people, Roth IRAs are a better choice because you can withdraw the money without penalty and, after retiring, won't have to pay taxes on it.

If you withdraw the money for anything other than eligible education expenses, you'll have to pay income taxes and a 10 percent penalty on the earnings portion of the withdrawal.

Secondly, spousal RRSP contributions can not be withdrawn for three calendars years from the year they were contributed or else the contributor will have to pay tax on the money (this is called the Three Year Attribution Rule).

A number of Republican House members insisted on only a partial repeal in the House bill, but the Senate has gone for a full repeal in an effort to raise more money to pay for tax cuts elsewhere.

For example, more and more people are making payments through their smartphones, they can pay for taxes, buy movie tickets, shop online, transfer money, pay for goods at restaurants and shops, all on their smartphonFor example, more and more people are making payments through their smartphones, they can pay for taxes, buy movie tickets, shop online, transfer money, pay for goods at restaurants and shops, all on their smartphonfor taxes, buy movie tickets, shop online, transfer money, pay for goods at restaurants and shops, all on their smartphonfor goods at restaurants and shops, all on their smartphones.

Both 401 (k) s and traditional IRAs are solid options for tax - advantaged retirement savings, as you don't pay taxes on your contributions until after you withdraw your money during retirement.

Yes, you'll have to pay income tax on the money you pull out for other needs, but in that sense you're no worse off than when you withdraw funds from a Traditional IRA.

The Roth has better terms for those who break the seal on the retirement savings cookie jar: It allows you to withdraw contributions — money you put into the account — at any time without having to pay income taxes or an early withdrawal penalty.

The bill also changes tax provisions for American companies abroad: Corporations will no longer have to pay corporate taxes on money they claim to have earned abroad — a move that could encourage companies to keep income in foreign tax havens.

«These accounts are built to give people tax benefits in saving for college and people who aren't using them are missing out on those tax benefits and potentially have less money for college when it comes time to pay for that,» said Stuart Ritter, a certified financial planner with T. Rowe Price.

** In other words, in most cases you won't have to pay state or federal income taxes on earnings in your 529 account, as long as you use the money for qualified expenses.

footnote † If you received a tax deduction on your contributions, your state might require you to pay it back if you use the money for expenses that aren't qualified.

Accessing your retirement funds to achieve personal and professional goals doesn't always require removing the money for good and / or paying taxes on the transaction.

This means you have worked for this money and you have already paid taxes on it.

For example, my bank account with cash that produces interest is a taxable account because I will have to pay taxes on the interest money reported by the bank.

If you use the money for something that does not qualify, or you simply withdraw the money for no specific reason, you will likely have to include it as income on your tax return and pay income tax on it.

I guess I feel the same way about a liberal agenda that say that to get out of debt we have to spend more, or that my tax dollars have to pay for something I think is morally wrong (Obamacare sets up a fund to pay for late term abortions) or a government that confiscates kids lunches, or tells me how much soda I can drink, or uses my tax money to choose winners and losers (mostly losers but Obma doners) in energy production that produces no energy yet we are sitting on more coal and oil than any other nation on the planet.

Yes, you get a tax write - off (so as to not be taxed on the money you no longer have), but it's insignificant compared to how much you would have if you'd just kept 75 % of the money for yourself and paid the 25 % tax.

I am working on a plan like this in Canada (as there are far less people and it is easier to get through) because being from a socialist country it is vital for people to feel the money they pay in taxes is being spent on things that benifit them, even if it is only a percentage of the overall amount.

If I save enough money (by not going on vacations) to send my kids to college, why should others be rewarded for having children they can't afford — by my paying more taxes and welfare for them?

The property taxes they pay help fund important educational programs for our children, and there is a lot of information available on the YourNeighborhoodToyStore.org website showing how local businesses create jobs and keep more money in the community vs shopping at a big box retailer or online retailer.

It just means that if a consumer wants to spend his expendable money on something nice (good food) they can, or they can go down to the state store and get some vegetables for free (paid for by taxes).

All the extra money went to pay for lower progressive income taxes and more health are spending on today's seniors.

To pay for the coverage, Washington sends New York State the money that otherwise would have spent on tax credits and other subsidies if those same people had enrolled for private coverage through an ACA exchange.

Rather than give the money to the law firm that employed Ambrosino, he took the money for himself and then didn't pay taxes on it.

But how would you feel if as someone paying the same stealth taxes as you, sees the same senior citizens lying on hospital trolleys, doesn't have enough money for heating (let alone a peerage) and weren't even asked to support the great «master plan» of the New Labour Dual - Monarchy?

Then - Governor George Pataki claimed most of the Empire conversion proceeds for state coffers, hiked taxes on health insurance, and used the money not just to balance the budget, but to increase pay and benefits for hospital and home - care workers.

«They're more likely to be working age, they're more likely to be paying taxes and less likely to have relatively large sums of money spent on them for education, for long - term care, for healthcare, for pension expenditure.»

If you're an average person whose tax money helped pay for the Wall Street bailout, what's going on in New York and New Jersey could really make you angry.

For the past two years, the investigative panel has looked into whether Rangel, a ranking Democrat, improperly used his congressional seat to solicit money for a college center named in his honor, failed to disclose personal assets and failed to pay taxes on a Caribbean vilFor the past two years, the investigative panel has looked into whether Rangel, a ranking Democrat, improperly used his congressional seat to solicit money for a college center named in his honor, failed to disclose personal assets and failed to pay taxes on a Caribbean vilfor a college center named in his honor, failed to disclose personal assets and failed to pay taxes on a Caribbean villa.

But the Conservatives said Ms Abbott had «floundered» when pressed over how the policy would be paid for and accused Labour of already pledging to spend the capital gains tax money on schools, welfare and the arts.

Last month, the State Senate's Republican majority said money earmarked for business promotions would be better spent on reducing the taxes paid by companies.

As Sheehan had requested, the state aid will be new money and not a «spin - up» of future payments in lieu of taxes on the Empire State Plaza, annual sums the state has been paying to Albany for decades.

The source for this controversial change was a report published by the Danish Immigration Service back in November 2014 which claimed forced military service - the main reason people leave the country - was no longer indefinite, and that anybody fleeing without permission would be welcomed back so long as they signed a «letter of apology» and paid a «diaspora tax» on the money they had earned while abroad.

Separate from congestion pricing has been a proposal for «value capture» funding that would provide money for specific transit upgrades based on the proximity of property and the taxes paid on that property.

And that agenda from Assembly Democrats typically includes finding more money for education and increasing taxes on wealthier New Yorkers in order to pay for it.

«Because [immigrants] are more likely to be working age, they're more likely to be paying taxes and less likely to have relatively large sums of money spent on them for education, for long - term care, for healthcare, for pension expenditure,» OBR chairman Robert Chote told MPs.

So both sides had incentives to burn buildings — the buildings were actually insured for more money than they were worth as rentals, and if the building was destroyed, you could build free - market housing on the site while paying very low property taxes when it was vacant.

On the other hand, the State doesn't have the money to take on local Medicaid costs and they couldn't tax enough millionaires to make it up so they would have to raise my income tax rate to pay for iOn the other hand, the State doesn't have the money to take on local Medicaid costs and they couldn't tax enough millionaires to make it up so they would have to raise my income tax rate to pay for ion local Medicaid costs and they couldn't tax enough millionaires to make it up so they would have to raise my income tax rate to pay for it.

But these were focused on specific savings to fund new spending: using the Child Trust Fund and restricting tax credits to pay for the pupil premium and to release money for a jobs package.

Ambrosino, of North Valley Stream, was indicted in April on charges of wire fraud and failing to pay taxes on money he made working as an attorney for two Nassau County agencies — the Nassau County Industrial Development Agency and the Local Economic Assistance Corp., according to authorities.

The governor says the money is needed to pay for a middle class tax cut, agreed to last year and which is scheduled to begin phasing in later this year, as well as a plan to provide free tuition at public colleges for New Yorkers earning less than $ 125,000 a year and to spend more on public schools.

«If you're holding on to a building, paying and maintaining the cost of taxes, sitting on an investment you're not profiting from, it's for a reason, and it's because you plan on making more money in the future.»