Sentences with phrase «still pay taxes on the money»

Not exact matches

Then realize that if you have deferred taxes by investing in a 401 (k) or IRA, you'll still have to pay taxes on those sums when it comes time to withdraw money from your retirement accounts.

You can take up to $ 10,000 from your IRA without penalty to buy a home, although you'll still need to pay taxes on the money.

That cash remains offshore, but Apple, which paid more than $ 6 billion in taxes in the United States last year on its American operations, could still have to pay federal taxes on it if the company were to return the money to its coffers in the United States.

The fact that I would have made more money with the higher rate of return on the «regular» money market fund while still paying the taxes didn't present itself to me.

Tom Tom doesn't work or pay taxes, and he still spends money on stuff he doesn't need?

But it all depends because if you wait until eligible age to take out money from a 401k, for example, you're still going to be paying taxes on it.

So putting money into a Roth IRA is likely still better tax-wise than putting it in a non-retirement account, even if it's possible that you will eventually have to pay some taxes on it.

Yee wouldn't get a tax refund on the money she pays back into RRSP under the plan, so by designating the minimum repayment she can still get the tax benefit for any RRSP contribution she makes above $ 1,666.

That way, you still don't get any deduction when the money goes in, and you still pay tax on the earnings — but you pay the tax at the end, when you take the money out.

Now people on welfare don't exactly live grand lifestyles so it still is better to earn more money and pay taxes on it than it is to subsist on welfare.

You'll still have to pay any penalties and taxes on money from your self - directed IRA if you take the money out before a certain age.

While many of those same rules are still in place, the reason a TFSA is so innovative is because it gives Canadians an option to save and grow their money without having to pay any taxes on it.

my bank sent my check back because my husband not on my account every year they took it, but my husband passed away last year and they put that on my return we filed jointly and now i guess we wait ive learned that if you call it will take longer so i guess i just wait, the only thing is i had to pay my friends back that helped me with both my husband and daughters funeral, both were sudden so i wait the good news my husband was a vietnam veteran and the VA will be giving me money back not all for his funeral he was service connect disability after he passed away agent orange exposer but they do give me a dic benefit which is tax exempt, so just sharing so your people know a couple of things thank you, question when they issue a check willit still have my husbands name on it even tho he passed away and yes it is on the irs paper work just wondering thank you blessings

Even though you pay tax on them twice, you will still most likely be ahead by a good amount of money considering you were able to buy the stock at a good price.

Just for the record — the tax refund money is not «tax free», you have still paid income tax on it.

but I am still not sure if my parents will need to pay taxes on the money that I send them since it is not a NRI / NRE / NRO account?

If we don't have to pay capital gains tax, do we still have to claim the money as income on our income tax return?

Now you can take that money out of your Traditional IRA and not pay a penalty (because you won't pay the penalty for early withdrawals when you use it for tuition), but you'll still have to pay the regular income tax on it.

The reality that I'm seeing these days is — people are putting their money into their 401 (k) s while in the 25 % tax bracket and taking it out while still in the 25 % tax bracket and paying an additional 10 % penalty on the money.

I decided on a tax refund loan since that feels like I'm basically borrowing my own money — I know the refund is coming, and even though I'll need to pay the loan out of my paychecks for now, I'm still getting it back in a couple of months.

The advantage of this is you don't have to pay income taxes on the money you put into your IRA until that money is withdrawn (hopefully while you're still young enough to enjoy having been such a responsible investor).

Government STRIPS and corporate zeroes have a «phantom tax» structure — although no money is paid until maturity, you'll still be responsible for paying tax on them every year as long as you own them.

Even if you plan to retire early, you still need money to live on in your 60s, 70s, and beyond so why not pay for those years with tax - deferred (or potentially tax - free) money?

You still have to pay taxes on any earned income that you put in the savings plan; however, the main tax advantage of a 529 plan is that all earnings of the money in the plan are not subject to federal tax if they are used for the educational expenses of your child.

However, because there is still some ambiguity in the law on this point, the estate trustee should reach out to the estate's unsecured creditors to let them know (a) that the estate does not have enough money to pay all debts in full and (b) that the estate trustee is planning to pay the estate taxes before paying the other debts.

In a different situation, if you have accumulated a sufficient cash value and there is enough money on your account to cover the premium, you may still want to pay the amount you find appropriate to earn interest which is credited on a tax - deferred basis.

I mentioned before that proponents argue that scaling back welfare programs will free up money to allocate to the UBI budget; in addition to that, they also think that if people will be getting money from the government, it makes the tax increase easier to swallow (if you're paying an extra $ 8,000 a year in taxes but getting $ 12,000 annually in UBI, you're still coming out on top).

And while they received insurance money, the Neelys are still paying property taxes and utilities to keep the lights on to show the house.

It is not as straight forward as renting to another tenant of course (company expenses are 100 % tax deductible, still it is a «loss» compared to putting that money into my own pocket), but this particular tenant is very reliable and always pays the rent on time!

Under TCJA, even after spending all this money on buying a new home, paying the interest on their mortgage and paying their property taxes, they are actually still better off taking the standard deduction of $ 24,000.