Sentences with phrase «normal income so»

Gambling winnings are taxed when you file just like normal income so your roommate will now have to pay federal tax on $ 100,000 income (between 24 % and 40 % federal, depending on when it is reported and other income he / she has), and potentially state income tax, while the «winner» got $ 80K tax - free instead of paying tax on $ 100K.

It's a tough one, and one of the reasons I am trying to get my passive income to start replacing my normal income so that I could take an easier life, but I would to just get it done

Not exact matches

So while a normal income statement shows that everything is rosy for the business, they may in fact run out of cash before they see a dime from the sale.

MH: The problem of inadequate consumer demand to fuel an economic recovery does not lie with the cost of labor so much as with the fact that it is now normal for families to pay a quarter or even a third of their income for debt service.

So you are saying that LS20 is bad to hold outside a tax wrapper, because the entire dividend is taxed at normal income tax rates (20/40/45), whereas buying a 4:1 mix of a pure bond fund and pure equity fund should save some tax, because the div from the equity fund is taxed at dividend tax rates (7.5 / 32.5 / 37.5) and it benefits from a # 5k allowance (reducing to # 2k, next year)?

So although you're still paying taxes, it's much less than if it was normal employment income.

So on your $ 10,000 capital gain, you're only paying $ 2,308 of tax, rather than the $ 4,616 that you would pay if this was normal employment income.

Some people have abused this though to disguise normal income as capital gains, so it could go away.

So if your normal marginal income tax rate were 15 %, you'd pay 25 % tax (15 % + 10 % penalty) on money withdrawn early from a tax - deferred retirement account.

LOL — I'm not worried, because the 15 % Dividend Rate expires this year anyway, it's going back to pre-Bush levels for 2011, so will be treated as normal income once again.

The relative numbers of these are such that my tax on my «normal» income (written on line 47 of the form) is less than the maximum tax credits I can access on lines 48 - 54, so my «normal» income tax burden is zero with some «wasted» credits that then apparently can't be applied toward my self - employment tax (line 57).

When you add that to normal income tax, many seniors are in 40 - 70 % tax brackets, so don't just assume you will be in a lower tax bracket after you retire.

During a RRE bear market, most people in a negative equity on sale position don't have a lot of extra assets to fall back on, so anything that interrupts the normal flow of income raises the odds of default.

For example, California adds a 2.5 % state tax early withdrawal penalty, so it ends up being 12.5 %, plus the normal income tax on the withdrawal... pretty substantial and makes me less inclined to use this approach (at least while living in California).

The difference with the normal income tax form is that everyone (just about) files one, and so filing it doesn't mean you're a criminal.

So my questions: would state income taxes affect my annual bottom line, or would normal business expenses and depreciation wipe those out on paper so I would not have to pay them anywaSo my questions: would state income taxes affect my annual bottom line, or would normal business expenses and depreciation wipe those out on paper so I would not have to pay them anywaso I would not have to pay them anyway?

Its a lease back, so is that the normal income it would recieve by being rented out as a hotel room?

«Housing is what economists call a «normal good,» so when incomes rise, households tend to spend more on housing, which pushes up prices,» writes McLaughlin.