Sentences with phrase «then paid taxes on the money»

If you have a Roth IRA, then you pay taxes on the money you invest up front, and then do not pay taxes on t during retirement.

So you got your $ 3100 in «free» money, then lost $ 930 in penalties and then paid taxes on the money to the tune of 28 % plus state and local taxes on the $ 3100.

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.

Then dividends may be distributed to the shareholders who must pay a tax on the money when they file their personal tax returns.

If the money to fund your Roth IRA is coming from the 401k, then it is usually a taxable event — meaning you very likely will have to pay taxes on it and any early withdrawal fee which is 10 % from the last time I can remember.

If the seller then resells the bitcoin, he or she may have to pay capital gains taxes so it cuts into money earned on the sale, he said.

If the seller then resells the bitcoin, they may have to pay capital gains taxes so it cuts into money earned on the sale, he said.

If you make or have enough money to pay taxes on, then last year's tax statements should be sufficient.

they can bid on dead people, half the money goes to the family, half to pay off the debt, and then let them spend all their tax - free dollars and grant money on paying us back in a wasted effort.

Not only do the swindle people out of their money weekly but then they legally don't pay taxes on it.

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.

The richest of the richest want to take over all the power positions in government so that no one representing the middle class or the poor can stand up to them when they legally «steal» all their money and then pass it on from generation to generation while paying barely any taxes at all.

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.

If they are going to borrow money from us, then the State should pay interest on these property tax dollars.»

I've continued one on Smashwords because I started it there and have a tiny readership, but I spend more time setting up a book on Smashwords and then doing administrative paperwork (taxes, money transfer since they pay through Paypal, etc), than the time spent is worth in earned royalties.

In a sense, it then functions similar to the fully pre-tax IRA as it grows tax free, but then withdrawals are made and taxes paid on the pro-rated not - yet - taxed money.

However when you withdraw it, you pay income tax on the money then.

If you can afford to pay your out of pocket medical expenses with after tax money today, then you can take advantage of tax free growth on that amount by leaving it in the HSA.

So if you always owe on state and federal then you can either adjust your withholding or put money aside in a fund to pay what you owe (though you should consult a tax pro to make sure you are paying what is required during the year).

If I just invested directly into the stock without going through the tax - free vehicle then I would have to pay taxes on any money I earn and that could eat up 20 + % of my earnings.

When you withdraw this money in retirement then you are paying the AVERAGE tax rate on the withdrawal — not the marginal rate (assuming no other income).

This year, ING is doing it again — if you have money earmarked for your 2010 TFSA contribution room then you can put the money into their TFSA «kick start» account and they will pay extra interest to make up for any taxes on the interest.

Depending on the type of retirement account that you have, you either get your tax break up front (you don't pay taxes on the money that you invest until you withdraw from your account in retirement), or you get your tax break in retirement (you pay taxes on the money that you invest before it is invested, but then don't pay income taxes on it when you withdraw in retirement).

As long as the after - tax interest rate on the mortgage is higher than the after - tax interest rate you are earning on your cash, then you save money by using the cash to pay down the mortgage.

They'll eventually pay taxes on amounts contributed when money is withdrawn from the plan, but they may be in a lower tax bracket by then.

The investments continue to grow tax - free until your spouse starts withdrawing them and then just pays ordinary income taxes on the money they take out.

Your account lost money since conversion, so you paid taxes on gains that no longer exist — you can reverse, then re-convert and owe less money.

That's why financial planners will tell clients who need to catch up on their RRSP to borrow the money, contribute (invest) then use the extra money from their tax refund to help pay down the loan.

My vote goes to putting the allowed amount in your TFSA, so it is available should you need emergency money, then investing as much as you can into your mortgage to save interest on your loan, but with mortgage rates so low, making sure to check out your RRSP options, as there could be better gains by making an RRSP contribution, then using the tax refund to pay down the mortgage.

If Zuckerberg puts $ 5k into a Roth (pays taxes on the $ 5k «investment»), then using that money to purchase facebook options at 5c a share (which only he can do), then he can purchase 100,000 shares of FB with a market value of $ 2.7 million.

You can't save money on business taxes by paying yourself a wage and then counting it as an expense to the business.

Then, when you've made money on that investment, through interest earned or capital gains, the government tells you that you don't have to pay tax on it.

The lure of the Roth individual retirement account is simple: You pay taxes on your contributions, and then your money grows tax - free.

Experts recommend dividing your money between a tax - deferred account, such as a 401 (k) or a traditional IRA, and a Roth IRA that requires you to pay tax on contributions upfront but then allows your money to grow tax - free.

RSAs, on the other hand, are taxed at grant in Canada, which makes them unpopular because employees have to pay ordinary income tax on money then don't yet have.

If the investment is stock shares or mutual fund shares and the only thing that has happened since you invested is that the per - share price went up (there were no dividends paid or mutual fund distributions that occurred between the purchase and today) so your investment is now worth $ 12,000, then by all means you can withdraw $ 10,000 from your investment, but you can not withdraw only the original investment and leave the gains in the account; your withdrawal will be partly the original post-tax money that you put in (and it will be not be taxed upon withdrawal) and partly the gains on which you will owe tax.

Then, when you withdraw the money in retirement, you pay income tax on it — but no capital gains tax.

If you use borrowed money to invest (with income potential), then the interest paid on the loan is tax deductible.

only then would you spend money (ie, some of that money) setting up business entities in the relevant jurisdiction (Dubai or whatever), establishing the needed chain companies, beginning work on legal, etc etc (and as a tiny factor at the end of that chain, sure, a few advisors would sort out the best way to pay any taxes in the US / home country / whatever, taking in to account sundry issues such as visa status, etc etc).

When I do then of course I have to claim this money on my taxes that calendar year and pay taxes on it.

There is no rule that says once you sell an investment and pay taxes on the gain, you will never again pay any taxes on any other investments you then buy with that money.

You'll have to pay taxes on the money you withdraw from those accounts during retirement, but by then the money you contributed will have had years to grow tax - free.

You work hard for your money, you're taxed at 28 - 35 % federally, plus your state tax, real estate tax, sales tax, etc., and then you hear on the news about all these rich people who don't pay enough in taxes.

If you're in a high income - tax bracket and investing money through a regular taxable account, it would be foolish to buy taxable bonds and then pay income taxes on the interest you earn.

It may actually cost less money to take out a long - term loan from a bank and pay the interest then it would to pay the penalty in taxes on funds withdrawn from a terminated IRA.

If it did, then the original money earned to pay the Principal on the original property was previously taxed before you used it for that Down - Payment and later Principal Payments.

So if you're inputting $ 1,000 in annual withdrawals into the Investment Comparator, then you'll need to input the amount of withdrawals that will equal $ 1,000 in spendable money, after the taxes are paid on the insurance product withdrawals.

You can put money in a Roth IRA after you've paid taxes on it and then your money grows tax free.

If I end up needing the money before 5 years is up then I will either pay income tax on the earnings or just not withdraw them, depending on how the numbers work out.

A few years ago I transferred my TFSA from Tangerine t CIBC as a result I got fine a large penalty I talked to Tangerine and they said it was not their mistake then I Talked to my Bank The CIBC and they said it was not their mistake Then I talk to my accountant and he said I was not the only one it happened to a lots of his clients, I withdrew all the money out of that TFSA and paid the penalty wich was large enough that 10 years of interest would not have made up for it So I will never put money in a TFSA again I prefer paying income tax on what I make rather then getting shafed by the Government for some obscure rthen I Talked to my Bank The CIBC and they said it was not their mistake Then I talk to my accountant and he said I was not the only one it happened to a lots of his clients, I withdrew all the money out of that TFSA and paid the penalty wich was large enough that 10 years of interest would not have made up for it So I will never put money in a TFSA again I prefer paying income tax on what I make rather then getting shafed by the Government for some obscure rThen I talk to my accountant and he said I was not the only one it happened to a lots of his clients, I withdrew all the money out of that TFSA and paid the penalty wich was large enough that 10 years of interest would not have made up for it So I will never put money in a TFSA again I prefer paying income tax on what I make rather then getting shafed by the Government for some obscure rthen getting shafed by the Government for some obscure rules