Sentences with phrase «yet paid tax on the money»

If you haven't yet paid tax on the money, you need to do so in the process of converting.

Not exact matches

So if you can save money on your taxes overall by paying your property taxes this year, when the $ 10,000 cap is not yet in effect, you should seriously consider it.

I guess I feel the same way about a liberal agenda that say that to get out of debt we have to spend more, or that my tax dollars have to pay for something I think is morally wrong (Obamacare sets up a fund to pay for late term abortions) or a government that confiscates kids lunches, or tells me how much soda I can drink, or uses my tax money to choose winners and losers (mostly losers but Obma doners) in energy production that produces no energy yet we are sitting on more coal and oil than any other nation on the planet.

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.

The name given an investment account where taxes have not yet been paid on the money invested or the gains earned.

It's probably my favorite investment because you only need to put up 20 - 30 % of your own money, yet you get all of the returns and pay no taxes on capital gains.

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.

You will pay tax on this money (because you haven't yet), but you won't pay the 10 % early withdrawal penalty.

In effect, zero coupon bond holders are required to pay taxes on money to which they don't yet have access.

That means that it's likely these individuals don't actually need the money, and yet they're forced to withdraw it and pay taxes on it.