Sentences with phrase «still paying tax on»

This means that even if the portfolio is producing more income than you can spend, you are still paying tax on the excess.

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.

Note that you must still pay taxes on reinvested dividends each year as received.

You must still pay tax on gains on the sale of a recreational property such as a cottage or a ski chalet.

You still pay tax on the $ 1,000 profit, regardless of what stays in the LLC or leaves the LLC.

And number three is you can use it for qualified medical expenses and still pay no taxes on it.

Now, if you need the whole $ 10,000 then you'll need to actually take $ 13,333 out and withhold $ 3,333 in order to have the $ 10,000 and still pay your taxes on it.

But they still pay tax on the income.

«He still owns it and he still pays taxes on it, but he can't build on it and he can't sell it,» says Kadysh, «Who's going to buy useless land?»

Not exact matches

In contrast, for the CPP any extra benefits in retirement will be paid by taxes on anyone who is of working age — unless you're retired or still a student, that means you, not someone else.

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.

In that scenario, even if the firm finishes the year in the red, it would still be required to pay income tax based on the profitable months.

Even if you don't receive an official income form for work you performed, you probably still need to let the IRS know about it: If your income (after expenses) from a side gig is at least $ 400, you are required to report it and pay taxes on it.

' cents S - corp conversions: Normally when a corporation elects «S corporation» status, it has to pay taxes on any gains it earned while still a C corporation («built - in gains») and realized in its first ten years as an S corporation.

They would still end up paying about 53 % in tax on the last $ 200,000 of earned income if they did.

(She'll still be paying her taxes on a cash basis.)

Finally, you still have to pay taxes on the annuity income stream on all gains beyond your cost basis.

While American citizens are still on the hook to pay taxes to the U.S. while living overseas, there are ways to reduce that bill, according to David McKeegan, co-founder of Greenback Expat Tax Services.

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.

That means if someone is paying you in cryptocurrency, you still have to pay taxes on it as you would income because bartering property for services is a taxable activity.

I'm holding off on adding to passive income streams right now because I've still got a full time job and am already paying more than enough in taxes.

Though the developer would have been able to sue, «he still would have a hole in the ground that he was paying taxes and insurance and contractor fees on.»

And even with the modest increase contained in the proposed B.C. Budget on incomes over $ 150,000, a person with an annual income of $ 300,000 would still pay the fourth lowest taxes in Canada (only Alberta, New Brunswick and Newfoundland's effective tax rates are mildly lower).

If you don't meet these requirements but still want to make withdrawals, you must pay income tax on the withdrawal amount.

You'll have to pay taxes on the forgiven amount, but it can still be a way to eliminate a large chunk of your loans.

That said, you will likely still have to pay income tax on that withdrawal.

Under the compromise, people will still be able to deduct up to $ 10,000 on the property taxes they pay locally, but they will no longer be able to deduct the other taxes they pay to state or local governments from their federal tax payments.

In addition, under current Internal Revenue Service rules, you may be required to pay income tax on any amount that's forgiven if you still have a remaining balance at the end of your repayment period.

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.

Still, the income - tax break on any earnings used to pay legitimate college expenses, coupled with the ability to avoid borrowing costs for tuition later, could make even lower returns in a 529 plan equivalent to higher returns outside of one — and better than not saving at all.

For example, if you earned $ 30,000 of income from working in the United States and you filed a U.S. tax return and paid $ 5000 in U.S. taxes, you would still report the $ 30,000 of U.S. income on your Canadian tax return but because Canada and the U.S. have a tax treaty you would be credited with the $ 5000 you paid in the U.S.

If you have had the account for 5 years, and are under 59 1/2, you can withdraw the earnings for qualified educational expenses without the penalty but you will still have to pay taxes on them.

Thus, MLP ETF investors are getting after - tax returns and are still obligated to pay dividend taxes on distributions from the ETF.

(1) Churches on base of all religions are funded by the government... yes, your tax dollars are paying for me to be able to enjoy whichever religious service of the 10 denominations that my small base has (not Fort Bragg)... and if I want to be Christian one day, switch to Muslim another, or Jewish another then your tax dollars are still going to pay for me to have freedom of choosing my religion on base.

Anyway, I'm willing to bet you still pay taxes to a government that promoted slavery once and bombs and spies on foreign countries unjustly.

Far more serious than these matters, however, is the fact that the dying still goes on in Indochina, killing and torture and suffering paid for by your taxes and mine.

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

Now, 100 years later, as demographics have changed, Christians still want everybody to pay for their amusement park, and those non-Christians who pay their taxes don't want to financially support it based on their own faiths want the bible removed from «Bible Land».

You could be an Atheist, a liberal Mensa member since 1983 living in Omaha who has served in the US Navy for a long time; like MIROSOL posted on his blog or if you pay taxes so your voice is heard like KEVIN post says he must do in his blog, I bet you that over 30 % of your income is still required by the US tax laws.

They would just pay the penalty (if they didn't lie about coverage on their taxes) because it is still much cheaper than purchasing coverage.

«Obamacare» allowed keeping your kids on your insurance (which you pay for) until they're 26 But today — We still can not purchase prescriptions on - line from Canada (where many of our drugs are made) to save $ The Supreme Court even admitted that a mandate would really be a tax..

Still, while the park board has yet to decide how to pay for the water park, a proposal for a tax increase on the November ballot is unlikely, said Christine Garry, president of the park district's Board of Commissioners.

So instead the law would likely say that they expect a tax to be payed by these large company whenever they process a transaction for a US citizen (actual law would be a bit more complicated since someone living in Germany who buying a service from another German citizen who just happens to also be a US Citizen shouldn't be taxed, but the general idea of calling out which transactions the US claims tax on still applies...)

«The question that we should ask is how can you inherit a budget deficit of 9.3 % of GDP, proceed to reduce taxes, bring down inflation, bring down interest rates, increase economic growth (from 3.6 % to 7.9 %), increase your international reserves, maintain relative exchange rate stability, reduce the debt to GDP ratio and the rate of debt accumulation, pay almost half of arrears inherited, stay current on obligations to statutory funds, restore teacher and nursing training allowances, double the capitation grant, implement free senior high school education and yet still be able to reduce the fiscal deficit from 9.3 % to an estimated 5.6 % of GDP?

So if we assume a 9 % California sales tax on an inclusive basis (to match the 25 % VAT), that still leaves 6 % to pay local income taxes.

``... When it comes to the Democrats» record on taxes, spending and reform, taxpayers are still paying for their broken promises.»

After Mr Clarke's intervention Mr Osborne's aide immediately claimed that they were still «firm» on inheritance tax and that it was «paid for.»

New York City Mayor Bill De Blasio wants to pay for pre-K for New York City children by raising New York City income taxes on households earning more than $ 500,000 saying that if state funding gets cut, pre-K for New York City children will still be funded.

WASHINGTON — Gov. Phil Murphy said Thursday that he still wants to raise taxes on millionaires to pay for a multitude of state programs, potentially setting up a showdown with Senate President Steve Sweeney over the state budget.