Sentences with phrase «subject to tax just»

You get an income deduction when you contribute to an RRSP, but when you take it out it's treated as ordinary income and subject to tax just like salary.

In the case of an annuity held in an IRA or similar account, the distributions will all be subject to tax just like any other traditional IRA distribution.

Gains and losses on day trading activity are subject to taxes just as with gains and losses on other investment income.

Not exact matches

Instead, the former secretary of state was just subject to ordinary income tax payments as the payouts trickled in, instead of all at once.

It would assess a tax based on the point of purchase; that is, an online seller located in South Dakota would be subject to that state's tax, just like brick - and - mortar sellers in that state.

Until last week, Washington had learned to ignore Trump's words on so many subjects — health care, immigration, taxes, guns — that it came to seem natural to assume that just because he said he would impose tariffs, there was no reason to believe he actually would.

Plus, just as with an RRSP, any gains your investments make in a spousal RRIF are tax - free (though they're still subject to income tax at withdrawal).

The Joint Economic Committees Minority Staff Report Study predicts that in just eight years after the Cadillac provisions take effect, the average priced insurance policy will be subject to the Cadillac tax.

Gains from the sale of these funds are taxed just like stock and bond ETFs: 23.8 % maximum long - term rate, 43.4 % maximum short - term rate (both rates for tax year 2013, subject to change next year).

Even though the interest paid on a municipal bond is tax - exempt, a holder can recognize gain or loss that is subject to federal income tax on the sale of such a bond, just as in the case of a taxable bond.

Incidentally, subject to the $ 5500/6500 maximum limit, you can (if you choose to do so) contribute the entire amount of your compensation to an IRA, not just the take - home pay amount (which will be smaller than your compensation because of withholding for Social Security and Medicare tax, State and Federal income tax, etc).

Remember that ETFs are subject to capital gains tax just like individual stocks if held outside a registered retirement account.

Plus, just as with an RRSP, any gains your investments make in a spousal RRIF are tax - free (though they're still subject to income tax at withdrawal).

Many people just aren't sure what their situation will be — and of course, tax laws are always subject to change.

In many circumstances, a forgiven debt is subject to income taxes just like those taken out of your paycheck.

Short - term or long - term capital gain distributions paid by these funds are not exempt from income taxes however, and shares of these funds, just as fund shares in taxable accounts, may be subject to some states that impose an intangible tax.

It just doesn't make sense to allow an 18 year old to save money in a TFSA, but subject children under 18 to possible taxes.

Any investment returns grow tax - deferred and once you reach age 59 1/2 65, you can withdraw the funds for any purpose (subject to ordinary income tax), just like a traditional IRA.

Just like tax free exchanges of «like kind» real estate under section 1031 of the I.R.S. Code and other exchanges of life insurance under section 1035, annuities may also be exchanged without taxation subject to some very important rules.

A tax credit doesn't just reduce the amount of income subject to tax — it reduces the tax itself, in some cases resulting in a refund.

Just don't try to take out the appreciation or earnings, if you can avoid it, since they would be subject to taxes and penalties, unless you qualify for certain exceptions.

Just remember that the amount forgiven may be subject to tax.

The IRS treatment of royalties means they are not subject to self - employment or FICA taxes - so the tax would be just 28 %, and because it's a royalty on monthly profits it means my payment is guaranteed even if the other company owners decide not to take a drawing for themselves in a given month - and as my royalty would be an expense for the company instead of a drawing it's pre-tax for them.

Such people can always make a contribution (subject to them having compensation (earned income such as salary or wages, self - employment income, commissions on sales, etc), but they don't get a tax deduction for it (just as contributions to Roth IRAs are not deductible).

If you're a high income earner subject to Alternative Minimum Tax (AMT), TT will just compute the tax, it's not equipped to help you find ways to reduce the AMT like an EA cTax (AMT), TT will just compute the tax, it's not equipped to help you find ways to reduce the AMT like an EA ctax, it's not equipped to help you find ways to reduce the AMT like an EA can.

First, you will be subject to all kinds of taxes and penalties on the money, which makes it just not worth it.

In other words, just because someone is in the 25 % tax bracket doesn't necessarily mean he / she is really subject to a 25 % marginal tax rate, as it could be much worse!

A partial Roth conversion, on the other hand, allows the couple to create just enough income to be subject to the lower tax brackets, while stopping before they reach the upper brackets.

Deductions impacted by income phaseouts, such as medical expense deductions, miscellaneous itemized deductions, and the AMT exemption (for those subject to the Alternative Minimum Tax), can all cause the marginal tax rate that applies to income to vary from just the tax bracket aloTax), can all cause the marginal tax rate that applies to income to vary from just the tax bracket alotax rate that applies to income to vary from just the tax bracket alotax bracket alone.

Flights within Europe and the Middle East on Iberia are not subject to fuel surcharges, just mandatory government taxes and fees.

For capital gains tax (CGT) purposes houses are just like any other asset with one important exemption — that the gain on disposal of a person's principal private residence is not subject to CGT.

Isn't it OK to use the same subject line each time, just changing the date: «Smith & Jones Tax Bulletin Issue 5»?

Just like with other types of life insurance coverage, the death benefit proceeds that are received by the named beneficiary are not subject to income tax.

Start - up companies are subjected to a whole of taxes, most of which are not even known to a rookie who has just entered the playing field.

One important consideration to remember is that just because life insurance death benefits are almost always federal income tax free the death benefit may still be subject to federal estate taxes.

Just like any other income or deductions subject to federal tax law, you must report your cryptocurrency gains and losses to the IRS.

Just like virtual currency wages, payments to independent contractors taking the form of Bitcoin or other cryptocurrencies are subject to the same tax rules most of us are already familiar with.

You will also be subject to self employment taxes if you are doing this in your own name (I am not a CPA or attorney, but just PM me and I have one in North Houston that I can recommend).

If you flip with your IRA you will be subject to UBTI (unrelated business taxable income) which basically means your IRA will pay taxes and at the trust rate which can be in the 35 % plus range (just off the top of my head).