Search results “Distribution of tax payments”
How to Pay No Tax on Dividends and Capital Gains
If you are married filing jointly with taxable income of $77,400 or less, you are in the 12% tax bracket. However, add $1 more and you are in the 22% bracket. See how that works? $77,400 = 12% bracket. $77,401 = 22% bracket. This is how marginal rates work: the more income you receive the higher the tax rate on that additional income will be. The tax you paid on your previous income doesn’t change though. You only pay higher taxes on the amount that puts you into the next bracket. How Qualified Dividends and Long-Term Gains Are Taxed Now, let’s say you have total income of $70,000 which consists of $60,000 of work income and $10,000 in the form of Qualified Dividend Income (QDI) and Long Term Capital Gains (LTCG). But you need $80,000 to maintain your lifestyle. So you take a $10,000 distribution from your IRA. That puts you in the 22% tax bracket. The following April you go visit your tax guy to file your taxes. Your tax guy gives you what you initially thought to be a pleasant surprise. He says that you only have to pay 15% on the $10,000 you received as dividends and capital gains even though you are in the 22% tax bracket. This is good news, right? Unfortunately, the reason you’re in the 22% bracket to begin with is the IRA distribution put you there. Now, you owe over $3,000 in taxes. This is bad. You wise up and use a different strategy for the following year. You still need $80,000 to get by. You’re still only making $70,000 from work and dividends. To make up the difference this year you take a distribution from your Roth IRA, not your Traditional. Now, when you go back to your tax guy you really do get a pleasant surprise: you pay $3,000 less in taxes! “Wait a second. How can this be?” You ask. Your tax guy explains. “Your IRA distribution last year not only increased your marginal tax rate to 22% but it also made your dividends and capital gains taxable as well. That $10,000 IRA distribution cost you $1,500 in income tax plus $1,500 in taxes on your dividends and capital gains. A double-whammy if ever there was one! “Because your Roth distribution is tax free you remain in the 12% bracket. Taxpayers who are in the 10% or 12% brackets do not pay tax on their qualified dividends or long term capital gains. So, not only do you not pay taxes on your Roth, you don’t pay taxes on your other investment income either!” Isn’t the Roth beautiful? ================================= If you like what you see, a thumbs up helps A LOT. It tells YouTube that people are engaged and so the Youtube algorithm will show the vide to others who may be interested in the content. So, give me a thumbs up, please! Don't forget to SUBSCRIBE by clicking here: https://www.youtube.com/channel/UCSEzy4i9xrKPoaU9z0_XbmA?sub_confirmation=1 Contact me: [email protected] GET MY BOOKS: Both are FREE to Kindle Unlimited Subscribers! The Tax Bomb In Your Retirement Accounts: How The Roth IRA Can Help You Avoid It https://amzn.to/2LHwQpt Strategic Money Planning: 8 Easy Ways To Put Your House In Order https://amzn.to/2wKGi50 GET ALL MY LATEST BLOGPOSTS: http://heritagewealthplanning.com/blog/ PODCAST: https://itunes.apple.com/us/podcast/josh-scandlen-podcast/id1368065459?mt=2 http://heritagewealthplanning.com/category/podcasts/ LET'S SOCIALIZE! Facebook: http://Facebook.com/heritagewealthplanning Linkedin: https://www.linkedin.com/in/joshscandlen/ Quora: https://www.quora.com/profile/Josh-Scandlen Google +: https://plus.google.com/u/1/108893802372783791910
How to pay income tax online India / online tax payment through net banking (challan 280) from home
How to pay income Tax online step by step payment of tax detail video. so you don't have to worry how to deposit tax online. To buy GST and Income Tax Guide Books click on following link: https://www.amazon.in/gp/search/ref=as_li_qf_sp_sr_tl?ie=UTF8&tag=capo-21&keywords=GST%20and%20Income%20Tax%20book&index=aps&camp=3638&creative=24630&linkCode=ur2&linkId=0fba22e63052c4eeb77e3e92092752f5 Products I use for video recording and more, Link to buy are below. Please click: Budget Mike for Audio recording: 1) http://amzn.to/2xb0FVh 2) http://amzn.to/2xrGOAy Generic 57000928MG Silica Gel Professional Condenser Microphone Mic Sound Studio Recording Dynamic (Works with Phantom Power Supply Or Sound Card Only) http://amzn.to/2x9fsmq iball Rocky with mike, headphone and speakers: http://amzn.to/2vnISYy http://amzn.to/2g35Hix Budget Cemeras: 1) http://amzn.to/2xbyvZY 2) http://amzn.to/2xbjCqL DSLR: http://amzn.to/2w1UMJB Redme note 4 (xiaomi) http://amzn.to/2g3kn14 Coolpad Cool 1 (Gold, 3GB RAM + 32GB memory) http://amzn.to/2eDXBc6 Coolpad Note 5 (Royal Gold, 32 GB) http://amzn.to/2xNig5T Camera Stands: http://amzn.to/2xNB9FE http://amzn.to/2eDdH5y Mini Tripod: memore Mini Tripod Universal YT-228 For Digital Camera & All Mobile Phones- Black (YT-228 Tripod) http://amzn.to/2xO1Av2 Laptops: Lenovo Ideapad 320E 80XH01GKIN 15.6-inch Laptop (6th Gen Core i3-6006U/4GB/1TB/FreeDOS/Integrated Graphics) http://amzn.to/2f1WZgQ HP HP 15 HP Notebook 15-BS549TU 2017 15.6-inch Laptop (Celeron N3060/4GB/500GB/Windows 10 Home Single Language(64 bit)/Integrated Graphics), Jet Black http://amzn.to/2xNK4XW Desktop: Lenovo 510S-08IAP 90GB000QIN 21.5-inch All-in-One Desktop (Intel Core i3 7th Gen/7100/4GB/1TB/DOS/Integrated Graphics) LED IPS Monitor: http://amzn.to/2xNepWm Tegh Computers Complete Desktop Computers Intel Core 2 Duo/2 GB/160 GB/15 Inch Led http://amzn.to/2xNk4Md Please Like, Share and Subscribe Love Pooja
Views: 47506 CA Guru Ji
How to calculate Excise Tax and determine Who Bears the Burden of the Tax
Tutorial on how to calculate total revenue from taxes. The animation shows how total revenue changes with elasticity It shows how the share between producer and consumer when the demand for elasticity changes too. Related Videos Entire Playlist on Understanding Elasticity in Economics http://www.youtube.com/playlist?list=PL3039DD4934D4C515 Like us on: http://www.facebook.com/PartyMoreStudyLess
Views: 197132 Economicsfun
Tax Tip for S-Corporation Owners: How to Pay Yourself
Emily Cowan, C.P.A., a Tax Consultant with Henssler Financial, explains how you can pay yourself as the owner of an S-Corp. Paying yourself a reasonable salary, withholding the proper FICA tax, and taking the proper distributions from the business are some of the most important steps to take. Fan and Follow Henssler Group -- Download the Henssler App Facebook: http://on.fb.me/14IxKoA Twitter: http://bit.ly/13rGJbI LinkedIn: http://linkd.in/17n8uTI YouTube: http://bit.ly/ehBglQ
Views: 55166 HensslerFinancial
Taxes on Producers- Microeconomics 2.11 ACDC Econ
I explain excise taxes any show what happens to consumer surplus, producer surplus, and deadweight loss as a result of a tax. Make sure to watch the section about tax incidence and who pays the majority of a tax.
Views: 568533 Jacob Clifford
The Progressive Income Tax: A Tale of Three Brothers
"The Progressive Income Tax" is one of those economic terms that gets bandied about, but few actually know what it means or how it works. This tale of three similar brothers with three different incomes (but one shared expense) helps explain the tax system under which we live. Adapted from an article by noted investor and economist, Kip Hagopian, and narrated by actress Carolyn Hennesy of "General Hospital" and "True Blood" fame, this animated story will change the way you think about how you pay your taxes.  Donate today to PragerU! http://l.prageru.com/2ylo1Yt Joining PragerU is free! Sign up now to get all our videos as soon as they're released. http://prageru.com/signup Download Pragerpedia on your iPhone or Android! Thousands of sources and facts at your fingertips. iPhone: http://l.prageru.com/2dlsnbG Android: http://l.prageru.com/2dlsS5e Join Prager United to get new swag every quarter, exclusive early access to our videos, and an annual TownHall phone call with Dennis Prager! http://l.prageru.com/2c9n6ys Join PragerU's text list to have these videos, free merchandise giveaways and breaking announcements sent directly to your phone! https://optin.mobiniti.com/prageru Do you shop on Amazon? Click https://smile.amazon.com and a percentage of every Amazon purchase will be donated to PragerU. Same great products. Same low price. Shopping made meaningful. VISIT PragerU! https://www.prageru.com FOLLOW us! Facebook: https://www.facebook.com/prageru Twitter: https://twitter.com/prageru Instagram: https://instagram.com/prageru/ PragerU is on Snapchat! JOIN PragerFORCE! For Students: http://l.prageru.com/29SgPaX JOIN our Educators Network! http://l.prageru.com/2c8vsff Script: Once upon a time, there were three brothers, triplets, named Tom, Dick, and Harry Class. They were raised in the same home, with the same parents, had the same IQ, same skills and same opportunities. Each was married and had two children. They were all carpenters making $25 per hour. While they were very similar in all these respects, they had different priorities. For example, Tom, chose to work 20 hours per week, while his brother, Dick worked 40 hours and Harry 60. It should also be noted that Harry's wife worked full time as an office manager for a salary of $50,000. Dick's wife sold real estate part time 10 hours a week and made $25,000 per year. Tom's wife did not work. Tom and Dick spent all of their family income. Since they paid into Social Security they figured, they didn't need to save for retirement. Harry and his wife, on the other hand, had, over many years, put away money each month and invested it in stocks and bonds. Here's how it worked out: Tom made $25,000 a year, Dick and his wife made $75,000 and Harry and his wife, $150,000. When a new housing development opened up in their community, the brothers decided to buy equally-priced homes on the same private street. One day the brothers decided to pool their funds for the purpose of improving their street. Concerned about crime and safety, and wanting a more attractive setting for their homes, the three families decided to install a security gate at the street's entrance; repave the street's surface; and enhance the lighting and landscaping. The work was done for a total cost of $30,000. Harry assumed they would divide the bill three ways, each brother paying $10,000. But Tom and Dick objected. "Why should we pay the same as you?" they said. "You make much more money than we do." Harry was puzzled. "What does that have to do with anything?" he asked. "My family makes more money because my wife and I work long hours, and because we have saved some of the money we've earned to make additional money from investments. Why should we be penalized for that?" "Harry, you can work and save all you like" Tom countered. "But my wife and I want to enjoy ourselves now, not 25 years from now." "Fine, Tom. Do what you want. It's a free country. But why should I have to pay for that? "I can't believe your being so... unbrotherly," Tom argued. "You have a lot of money and I don't. I thought you'd be more generous." At this point, Dick, the peacemaker in the family, entered the conversation. "I've got an idea," Dick said. "Our combined income is $250,000, and $30,000 is 12 percent of that amount. Why don't we each pay that percentage of our income? Under that formula, Tom would pay $3,000, I would pay $9,000, and Harry would pay $18,000." "I have a much better idea," said Tom. "And one that's fairer than what you're proposing." For the complete script, visit https://www.prageru.com/videos/progressive-income-tax-tale-three-brothers
Views: 7774467 PragerU
How Do I Pay Myself in a Single-Member LLC? - All Up In Yo' Business
Learn more about 180 Law Co. LLC by visiting http://180lawco.com. One question that I get asked quite often, because it’s a really good question, is how the owner of a single-member LLC is supposed to pay him/herself. There are two possible answers to this question, depending on how the LLC is taxed. Unless the LLC elects otherwise, a single-member LLC is considered a “disregarded entity” and all of the income to the LLC is treated as income to the business owner, and is all subject to self-employment tax. So basically, the owner of a single-member LLC can pay himself however and whenever he wants, keeping in mind a few important considerations: 1. Make sure you are prepared to pay taxes. Since the LLC is a disregarded entity, if the business earns $100k but you only “pay” yourself $50k, you are still going to be responsible for paying all of the taxes, including self-employment taxes, on the full $100k. (For simplicity’s sake, I am pretending there are no deductions or anything.) So you need to set aside enough money to make sure you can cover your taxes. 2. The business has to remain adequately capitalized. This means that you need to keep enough money in the business to cover all your overhead, debts, bills, salary for employees, etc. You should also leave some extra “padding” for possibly building up your business, purchasing equipment, and whatever else you may decide to do with your business. In the books, any payments to yourself should be recorded as “Member Distribution” or “Member Withdrawal.” If the LLC elects to be taxed as an S Corporation, on the other hand, you have to be paid a “reasonable” salary. Self-employment taxes will only be paid on that salary rather than on the full amount of profit the business earns. Any money that the business owner takes above that reasonable salary is considered a dividend and won’t be subject to self-employment taxes. To learn more about S Corporations, watch my earlier video What the Heck is an S Corporation at http://youtu.be/i5to7Da3wMw?list=UUNh7tqEn68tf0oOfq4NsFsg If your LLC is not taxed as an S Corp, you don’t need to put yourself on payroll, since those member distributions aren’t treated as normal payroll. If your LLC is taxed as an S Corp, then the salary you earn can be part of your payroll, and any additional dividends will be separate from that. Whether or not you elect to have your LLC taxed as an S Corp and how to handle and record the money that you pay yourself is an important conversation that should be had with your accountant, bookkeeper, & attorney. Doing it the “right” way can help minimize your tax liability and can make your life (and that of your accountant) much easier come tax time. Contact Aiden and learn more at www.180lawco.com. [email protected] | 720-379-3425 Thumbs up & subscribe if you want more AUIYB! Follow Me! IG: @allupinyobusiness Twitter: @_AllUpInYoBiz www.facebook.com/180lawco www.google.com/+aidenkramerlawAUIYB www.pinterest.com/AUIYB The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by 180 Law Co. LLC, with its principal office located at 50 S. Steele Street, Suite 250, Denver, CO 80209. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship 180 Law Co. LLC or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. All Up In Yo’ Business® is a registered trademark of 180 Law Co. LLC. ©180 Law Co. LLC. All rights reserved.
Views: 353378 180 Law Co. LLC
How to Reduce or Eliminate Taxes On Social Security Benefits! (How to Minimize Taxes In Retirement)
How to Reduce or Eliminate Taxes On Social Security Benefits! (How to Minimize Taxes In Retirement) Up to 85% of your social security benefits can be subject to taxation. My Roth IRA Videos Can be found here so check them out if you want to learn more: How rich can a Roth IRA Make You: https://youtu.be/2nx0vHGNVmE Roth IRA Rules Explained: How Do Roth IRAs Work?https://youtu.be/3MzZfRrgEYg Video Time Stamp Index Guide: • How much of your social security is tax free? 0:59 • Tip#1 1:44 • Tip#2 2:28 • Tip#3 3:49 • Tip#4 4:47 • Tip#5 5:36 • Tip#6 6:52 Ways to minimize taxes on social security benefits 1. Roth IRA - The first way and my personal favorite way to minimize income taxes on your social security benefits is to have a Roth IRA. Both you and your spouse can have one. Qualified Roth ire distributions are not factored into the social security income equation which freaking awesome. As an example a person could receive $25,000 a year in dividend distributions from their Roth IRA and $25,000 a year in SSI benefits and still pay $0 tax. That’s a full $4,000 a month that you get to keep and keep it all 2. Begin taking taxable IRA distributions before drawing social – This second strategy takes a bit of planning but can be powerful. This assumes you are older than 59 ½ and can begin taking distributions from your 401(K) or traditional tax IRA. By taking some of their IRA or 401(K) distributions early it allows them to delay drawing from their social security. This does two things: By delaying their SSI benefits it will allow them to draw higher social security benefits in the future. Secondly by drawing some of their IRA or 401(K) they will be able to take lower required minimum distributions in the future. The net result = higher social benefits and helps reduce taxable income from other sources. This strategy could go very wrong if a person blows their distributions from their retirement account, however, a disciplined person could always reinvest that money into growth stocks or dividend paying stocks within a taxable brokerage account and grow the money even further. With careful throughout planning this strategy could work very well for future retires. 3. Donate RMD/Retirement distributions – Already drawing social security benefits and taking IRA distributions? No worries. You can always choose to donate a portion (or potentially all of your IRA distribution) to a qualified charity. I have seen this first hand. People who have donated to a good cause. A cause they are passionate about and saved tens of thousands of dollars in the process. This takes some planning, but can work quite well in helping one minimize their social security income taxes or income taxes in general. 4. Lower your income by quitting a part-time job – Normally I would not suggest someone quits their part-time job, but when it comes to minimizing ones income taxes on their SSI benefits this might actually make sense if a person can afford to do so. If you drastically reduce your income and taxes it might not feel like that much of a pay cut, and you will no longer have to work. Remember the overall idea of lowering your income taxes if finding ways to reduce your taxable income. 5. Debt - Speaking of reducing your taxable income let’s talk about debt. Paying off your debts before you retire is one of the best things you can do to help you reduce your taxes. The less taxable income you need to live off of the less tax you will pay. Not only that, the longer your 401(K) and IRA investments will last you. Unfortunately most debt payments are no longer helping people from a tax perspective unless they own a business or rental estate under the new tax laws so in my opinion if you getting ready to retire or already retired I think it’s time to get rid of the debt if you can. 6. Delay taking social security benefits Most people cannot begin to emotionally fathom the idea of delaying their social security benefits and they often react like this if you even begin to suggest it…. I realize that most people will probably not entertain the idea of delaying taking their social security, and that’s fine I get it, but what I have found from experience in the real world is the people who are very well off, those with a substantial amount of retirement assets…the ones would could afford to take a lower social payments are more likely to delay taking their benefits until full retirement age or closer to age 70. If a person is willing to work a little longer or use other retirement assets until they are ready to start drawing social security this can be a powerful tax saving strategy. What people often forget is if their social security payment is higher each month they can draw down their other assets at a slower pace and might have more to pass on to the next generation at the end their life.
Views: 2828 Money and Life TV
Indian Tax System : A very simple explanation (2017)
This video explains basics of Indian tax system in very simple and conversational language. All major taxes like income tax, service tax, VAT, Sales tax etc are explained with real life examples.. -~-~~-~~~-~~-~- Please watch: "Avoid Income Tax Notice / Transactions tracked by tax department / Annual Information Return (AIR)" https://www.youtube.com/watch?v=PccioCzpNoM -~-~~-~~~-~~-~-
Views: 162133 CA Gourav Jashnani
Mutual Funds Distributions Explained
Tangerine’s Joe Snyder addresses the most frequently asked questions about Mutual Fund distributions, starting with a simple explanation of what they are.
Views: 28143 Tangerine
Distribution from Partnership to Partners | Corporate Income Tax | CPA REG | Ch 21 P 5
liquidating distribution, non-liquidating distribution, proportional distribution, Partnership taxation, taxation of partnership, separately stated items, non-separately items, cpa exam, capital balance, capital interest, LLC, LLP, general partnership, limited partnership, flow through entity, profit sharing ratio, guarantee payments, form 1065, schedule k-1, inside basis, outside basis, built-in gain, built-in loss, precontribution gain,
In Norway, Everyone Can Know How Much You Earn
Wage transparency is a strange concept for most of us: not so in some of the Nordic countries. And while Norway, Sweden and Finland differ in exactly the amount of access they give the public, fundamentally your tax return would be public knowledge there. So how does it affect the world? And is it a good idea? Let's look at the science and find out. I'm at http://tomscott.com and on Twitter at https://twitter.com/tomscott on Facebook at https://facebook.com/tomscott and on Instagram as @tomscottgo BIBLIOGRAPHY: Asthana, A., Weaver, M., & Mason, R. (2016). Osborne likely to publish tax returns as No 10 says all leaders should. The Guardian. Retrieved from http://www.theguardian.com/politics/2016/apr/11/osborne-likely-to-publish-tax-returns-as-pm-prepares-to-face-mps Bø, E., Slemrod, J., & Thoresen, T. (2015). Taxes on the Internet: Deterrence Effects of Public Disclosure. American Economic Journal: Economic Policy, 7(1), 36-62. http://dx.doi.org/10.1257/pol.20130330 Brown, G., Gardner, J., Oswald, A., & Qian, J. (2008). Does Wage Rank Affect Employees’ Well-being?. Industrial Relations, 47(3), 355-389. http://dx.doi.org/10.1111/j.1468-232x.2008.00525.x Card, D., Mas, A., Moretti, E., & Saez, E. (2010). Inequality at Work: The Effect of Peer Salaries on Job Satisfaction. http://dx.doi.org/10.3386/w16396 Mance, H., & Packard, J. (2016). Angry British MPs rebel over Norway-style tax reporting. Financial Times. Retrieved from http://www.ft.com/cms/s/0/c515ad74-ffda-11e5-ac98-3c15a1aa2e62.html Perez-Truglia, R. (2016). Measuring the Value of Self- and Social-Image: Evidence from a Natural Experiment. SSRN Electronic Journal. http://dx.doi.org/10.2139/ssrn.2657808 Zakrzewski, C. (2015). Ex-Google Employee Exposes Unequal Pay With Spreadsheet. Wall Street Journal. Retrieved from http://blogs.wsj.com/digits/2015/07/21/ex-google-employee-exposes-unequal-pay-with-spreadsheet/
Views: 555493 Tom Scott
Wayne Lippman CPA | Taking money out of an S Corporation
https://www.youtube.com/watch?v=z1ml_O9wPZ0 Wayne Lippman CPA - Taking money out of an S Corporation. Wayne Lippman, C.P.A., a Tax Consultant with LIppman & Associates CPA's Inc, tells S Corporation owners how to can pay themselves as the owner of an S-Corp. Paying a reasonable salary to yourself, withholding the proper Payroll and FICA taxes, and withdrawing the proper distributions from the business are some steps you can take. Wayne Lippman describes the process in a simple to understand way, demystifying the confusion around this important tax topic. Website http://waynelippman.com http://lippmancpas.com Facebook https://www.facebook.com/wayne.lippman.cpa https://www.facebook.com/lippman.associates.cpas Tumblr  http://waynelippman.tumblr.com Twitter https://twitter.com/waynelippman Wordpress http://Waynelippman.wordpress.com About.me https://about.me/waynelippman Google + https://plus.google.com/+WayneLippmanLippmanAssociatesCPAsWalnutCreek https://plus.google.com/u/0/+WayneLippman YouTube: Wayne Lippman https://www.youtube.com/waynelippman https://www.youtube.com/watch?v=uEBxsU4YZWs https://www.youtube.com/watch?v=p_-2iM00kZ4 https://www.youtube.com/watch?v=Rh7teBOwV_0 https://www.youtube.com/watch?v=1auXz0eHgIA https://www.youtube.com/watch?v=SYLX3GvRFS8 https://www.youtube.com/watch?v=z1ml_O9wPZ0 https://www.youtube.com/watch?v=f4pYMA91Md8 https://www.youtube.com/watch?v=AXOpIEalsJ8 https://www.youtube.com/watch?v=SoaGUgzoljs https://www.youtube.com/watch?v=f4pYMA91Md8&list=PLsXKW7rT2XqQryta0Ey37JDDv8-x4UMOE https://www.youtube.com/watch?v=z1ml_O9wPZ0&list=PL6b-Dl60taJxBA_khpklTdqSlTnGZkuvN https://www.youtube.com/watch?v=0GCh1L0XFcA&list=PLsXKW7rT2XqQCnyrX6cFs7gawFKyqiCxK https://www.youtube.com/watch?v=z1ml_O9wPZ0&list=PLsXKW7rT2XqS9pPoQWi3-jeSQxJ-iH0hK Blogger http://waynelippman.blogspot.com LinkedIn www.linkedin.com/in/waynelippman Pinterest http://pinterest.com/waynelippman Quora https://www.quora.com/Wayne-Lippman Academia.edu https://independent.academia.edu/WayneLippman Blogger http://waynelippman.blogspot.com Quora https://www.quora.com/Wayne-Lippman Linkedin https://www.linkedin.com/in/waynelippman
Views: 14929 Wayne Lippman
Understanding Taxes for Freelancers (W-9 1099-MISC)
Views: 22081 Kurt Von Studios
What Are Dividends
Soni Bros Twitter: https://twitter.com/MrSoniBros Soni Bros Facebook: https://www.facebook.com/mrsonibros Music at the end by Tee W! Make sure to check him out! Tee W Twitter: https://twitter.com/TeeWMusic Tee W Website: http://www.teewmusic.com/ Make sure to Comment, Like and Subscribe! Background beat by Lynval D'tchalis, check him out at https://soundcloud.com/lynval-sundayswag-dtchalis Dividends are when a company distributes a portion of its profits to its shareholders. If you don't know what the word 'shareholder' means, click here to watch part 1, and then come back to this video. So anyways, say we own a share in a company, let's call this company Soni's Shawarma, and assume it's a restaurant chain that has thousands of restaurants across the country. Soni's Shawarma is doing its thing, you know, selling great tasting shawarmas to people like you and me and making a profit. And since shareholders are owners, it makes sense that we get a part of this profit. Soni's Shawarma will distribute a small portion of its profit to shareholders, and this, is what we call a dividend. So let's say that Soni's Shawarma pays a quarterly dividend of 25 cents. let's make this rectangle represent my one share of Soni's Shawarma. So with this one share, I will be getting 25 cents from Soni's Shawarma, every quarter year, which is 3 months. I get this 25 cents, for being a shareholder, which is not a laborious task, you just buy shares, and, well, chill, relax, continue on with your life, you get the point. So this one share got me 25 cents, in 3 months. Say I hold this share for a year, and since this dividend is issued quarterly, that means I get 4 payments of 25 cents, so I've just gotten a dollar in dividends. Realistically, it's very unusual for someone to invest in a company, and buy only 1 share, so say I have 100 shares of Soni's Shawarma, that means in a year, I make $100. Say I have a 1000 shares, in a year, that's a thousand dollars. $1000 for what? $1000 for being a shareholder. So basically, chilling. (insert music here). Now the longer you chill, I mean, uhh, hold your shares for, the more money you will make. If 100 shares of Soni's Shawarma give me $100 in dividends every year, and I hold this company for 2 years, that's $200, if I hold it for 5 years, that's $500, if I hold it for 10 years, that's a $1000 and so on and so forth. In the real world, dividend paying companies usually increase their dividends often, so if you hold for a long time, the dividends will usually increase. So before we end the video, you need to know a few things. Dividends can be paid in cash or in stock, which is when the company will issue extra shares instead of cash. But you can always sell those extra shares for money if you really want the cash that bad. Next thing, not all companies pay dividends to their shareholders. These companies may be reinvesting every penny back into the business, or may not even be making a profit. Last thing, companies can pay dividends quarterly, semi-annually, or annually. So that means once every three months, or once every 6 months, or once every year. So that's about it, make sure to watch the online tutorial for checking dividends as a follow-up to this video. Thank you and goodbye!
Views: 205427 Soni Bros
Universal Basic Income Explained – Free Money for Everybody? UBI
What is UBI? How would free money change our lives. Kurzgesagt Newsletter: http://eepurl.com/cRUQxz Support us on Patreon so we can make more videos (and get cool stuff in return): https://www.patreon.com/Kurzgesagt?ty=h Kurzgesagt merch: http://bit.ly/1P1hQIH The MUSIC of the video: Soundcloud: http://bit.ly/2BHihcO Bandcamp: http://bit.ly/2AY8lPf Facebook: http://bit.ly/2qW6bY4 A few sources: Cash Transfers and Temptation Goods http://bit.ly/2gfkwsN Debunking the Stereotype of the Lazy Welfare Recipient: Evidence from Cash Transfer Programs Worldwide http://bit.ly/1lFeO5Y The Poverty Trap http://bit.ly/2iCv9cK The short-term impact of unconditional cash transfers to the poor: experimental evidence from Kenya http://bit.ly/2ixSbEn Opinion: Our Broken Economy, in One Simple Chart http://nyti.ms/2vzE1be Modeling the Macroeconomic Effects of a Universal Basic Income http://bit.ly/2xLWUFi On the Economics of a Universal Basic Income http://bit.ly/2BdHoaX What Would Happen If We Just Gave People Money? http://53eig.ht/230Td6X Cash Transfers and Temptation Goods – A Review of Global Evidence http://bit.ly/2cXUTyY Cash transfers: what does the evidence say? A rigorous review of impacts and the role of design and implementation features http://bit.ly/2av62Ya Cash as Capital http://bit.ly/2rGvlgZ THANKS A LOT TO OUR LOVELY PATRONS FOR SUPPORTING US: Kelly-Anne B, Kevin Perot, Ehsan Kia, Larry Peterson, Verteiron, Kristofer Sokk, Lily Lau, Fabian Keller, Hrvoje Stojanović, Chris K, Rebecca Lawson, Jonah Larsen, Tombfyre, Carlos Fuentealba, Logan Spalding, Richard Williams, Sylvain Gibouret, Paul Cowan, François Agier, Tristin, Matthias Monnereau, Qiiii Wang, Hendrik Ewe, Jenny Wang, Steve Root, Erickson Dias, Daniel Dod, Peggy Snow, fxenergy, Stephan Wölcher, Christian Strømnes, Michael, Dave, Anders Mærøe, Peter Sodke, Mathis Rehfeld, Obedient Gamer, Mersija Maglajlic, Christian Kleinferchner, Luke Stowers, Macrieum, Joanna Iwańska, Eli Mahler, Kevin Stamps, K., Mike Danielson, Harethh aljagbir, Panayot Todorov, TechyTF77 , Jacob Hilliard, Paul Flynn, Raymond Carter, Luke Welton, Ryan Kratt, robert oseveno, Hugo Chuang, Seggev Shoresh, Mechanically Cryptic, Niklas Widmann, Moshe Simantov, Sebastian Link, Leezdorfer, Andrei Robu, Karla Brilman, Jason Lopez, n0mir3k, Daniel Mardale Help us caption & translate this video! http://www.youtube.com/timedtext_cs_panel?c=UCsXVk37bltHxD1rDPwtNM8Q&tab=2 Universal Basic Income Explained – Free Money for Everybody? UBI
Partnership Income Allocation to Partners | Corporate Income Tax | CPA REG | Ch 21 P 3
eparately stated items, non-separately items, Partnership taxation, taxation of partnership, cpa exam, capital balance, capital interest, LLC, LLP, general partnership, limited partnership, flow through entity, profit sharing ratio, guarantee payments, form 1065, schedule k-1, inside basis, outside basis, built-in gain, built-in loss, precontribution gain, partner basis
S Corporation Form 2553: How To Pay Yourself Reasonable Compensation Reasonable Salary Gusto Payroll
S Corporation (Form 2553) Reasonable Compensation Reasonable Salary How To Pay Yourself Gusto Payroll. ★ S-CORP ONLINE COURSE NOW AVAILABLE (CLICK☞): https://bootcamp.advisorfi.com/p/s-corporation-bootcamp Business ownership is adventurous, rewarding, and completely confusing. Sure you can come up with the next business idea and change the world with a single event, but how do you organize and run the business side of that idea? Should you set up an LLC and how should it be taxed? Are you prepared to streamline this new business venture and idea? What information should you consider in your business that's meaningful, and when do you implement it? Where do you go to find the best tools possible for your business? How do you save money on taxes? Where do you set up your new company? What technology should you use to make running your business easier? These aren't the things that we learn in school, and chances are you don't have time for trial and error. You're here to make money doing what you love, and I'm here to make that easier for you and absolutely practical. ★ S-CORP ONLINE COURSE NOW AVAILABLE (CLICK☞): https://bootcamp.advisorfi.com/p/s-corporation-bootcamp In this Bootcamp for Converting to S-Corp (Form 2553), you will walk away with knowledge such as; How do you to properly start your business, ~ Why you should consider S-corporation (Form 2553) for your business venture, ~ How do you properly complete S-Corporation (Form 2553) correctly when you are NOT late in electing, ~ How do you properly complete S-Corporation (Form 2553) correctly when you ARE late in electing, ~ What are the IRS S-corporation expectations and requirement for your S-Corporation (Form 2553), ~ What are the best 2018+ tax reform business savings for my S-Corporation (Form 2553), ~ What are the best business and accounting apps to use to make running a business easier and are there exclusive offers for them through AdvisorFi.com, and much more! ★ S-CORP ONLINE COURSE NOW AVAILABLE (CLICK☞): https://bootcamp.advisorfi.com/p/s-corporation-bootcamp By the end of this S-Corp Bootcamp, your business venture will be in tip-top shape to make your dreams and tax savings become reality. You'll have a complete plan for how to set up your business venture correctly that saves you money and time, and rolling out the best technology that will make business ownership as an S-Corporation a breeze! This online course is the first of it's kind and is the beginning of a series of educational online products to be created by Will Lopez, Founder of AdvisorFi. Needless to say, we are excited to show you how successful business ownership is really done. :) ★ S-CORP ONLINE COURSE NOW AVAILABLE (CLICK☞): https://bootcamp.advisorfi.com/p/s-corporation-bootcamp =========== Gusto Payroll (CLICK☞): https://gusto.com/r/uBiOb =========== FREE Consultations (CLICK☞): http://meetme.so/freebie =========== Subscribe (CLICK☞): https://goo.gl/o8hRuk =========== Best Playlist (CLICK☞): https://goo.gl/Kvb41h =========== IRS: Reasonable Compensation: "S corporations must pay reasonable compensation to a shareholder-employee in return for services that the employee provides to the corporation before non-wage distributions may be made to the shareholder-employee. The amount of reasonable compensation will never exceed the amount received by the shareholder either directly or indirectly." Reasonable Salary: https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/S-Corporation-Compensation-and-Medical-Insurance-Issues LLC Tax Classifications: http://www.companiesinc.com/llc/tax-classifications.asp Key Words: S-Corporation, Form 2553, Small Business, Partnership, Sole Proprietorship, C-Corporation, Tax Classifications, Small Business Election, Entrepreneur, ★ Please LIKE Comment & SUBSCRIBE: https://goo.gl/o8hRuk ★ Thanks for watching http://AdvisorFi.com ★ Music from YouTube: https://www.youtube.com/audiolibrary/music #Accounting #Business #Taxes
Views: 34397 advisorfi.com
Taxes on Dividends Explained - TurboTax Tax Tip Video
https://turbotax.intuit.com If you purchase stock in a corporation or invest in a mutual fund that periodically pays dividends, the payments you receive throughout the year can provide you with some extra income. Though you must always report the dividend income on your tax return—it doesn't always mean you will pay tax on it. Find out more about taxes on dividends with this helpful tax tip video from TurboTax. TurboTax Home: https://turbotax.intuit.com TurboTax Support: https://ttlc.intuit.com/ TurboTax Blog: http://blog.turbotax.intuit.com TurboTax Twitter: https://twitter.com/turbotax TurboTax Facebook: https://www.facebook.com/TurboTax TurboTax Pinterest: https://www.pinterest.com/turbotax/ TurboTax Tumblr: http://turbotax.tumblr.com/
Views: 15070 TurboTax
The Basic Taxation of Annuities
http://www.brokersalliance.com (800) 290-7226 Presented by Brokers Alliance. Basis: the original principle, corpus or contribution of into an annuity. Exclusion Ratio: The exclusion ratio which contains basis is amortized in the distribution payment with gain. The exclusion ration is generally distributed over the life expectancy of the annuitant. Gain: The profit, gain or accumulated cash values beyond basis. LIFO: (Last In First Out Taxation) Distributions from an annuity policy are treated as gain until all gain has been distributed. Then remaining distributions should be the recovery of basis. The exception to the rule is life time annuitization whereas the exclusion ratio which contains basis is amortized in the distribution payment with gain. The exclusion ration is generally distributed over the life expectancy of the annuitant. All gain is taxed at ordinary income rates. Annuity Docs & Vocabulary: Order- [email protected] This video was produced by http://bizmediastudios.com/ ____________________________ Follow Us On Social! ____________________________ TWITTER: https://twitter.com/BrokersAlliance FACEBOOK: https://www.facebook.com/pages/Brokers-Alliance-Inc/115179661832101 INSTAGRAM: https://instagram.com/brokersalliance/ WEBSITE: http://www.brokersalliance.com/ GOOGLE+: https://www.google.com/+BrokersAlliance LINKEDIN: https://www.linkedin.com/company/brokers-alliance-inc
Views: 6270 BrokersAlliance
Accounting For Owner Contributions and Distributions with QuickBooks
Visit the new NerdEnterprises.com Subscription Options: https://nerdenterprises.com/services/subscription-based-training/ One to One Training: https://nerdenterprises.com/services/one-to-one-training/ Get templates: https://nerdenterprises.com/resources-page/templates/
Views: 107566 Nerd Enterprises, Inc.
Retirement Withdrawals before 59 1/2, Without A Penalty?
Click this link to get your copy! http://lethemonfinancial.com/freeretirementguide How To Retire Happy, 7 Simple Steps To Creating Your Ideal Retirement I'm going to show you how to take retirement withdrawals from your retirement accounts before you turn 59 1/2, and do it without paying a penalty. You may be thinking about retiring early, but may not be sure exactly how to do it. If you're like a lot of people you probably have a most of your retirement savings in tax deferred accounts like IRA's and 401k's. We all know since the time we got into these accounts that we couldn't touch the money until we turned 59 1/2 without getting hit with a 10% penalty. Well, there are actually 4 ways that you can take retirement withdrawals before 59 1/2 without paying the 10% penalty. The first is the Age 55 rule from a qualified plan. If you separate service from your company on or after your 55th birthday, you can access the money in your company sponsored retirement plan without paying the 10% penalty that normally would apply to early distributions. This rule only applies to company sponsored retirement plans like your 401k. Once you rollover to your IRA, you no longer have this option available. As with any tax deferred account distribution, ordinary income taxes will still apply, but the 10% penalty will be waived. Here's how it works: Let's say you have a 401k with $500,000 in it and you retire at 56. You figure you need about $50,000 to get you through the next 3 1/2 years. So you take a penalty free distribution from your 401k for the $50,000, then rollover the remaining $450,000 into a self directed IRA to continue the tax deferral on that portion. Next is Regulation 72t. Regulation 72t refers to a section of the IRS tax code that allows for penalty free withdrawals from IRA accounts. Whereas the age 55 rule applies only to qualified employer plans, regulation 72t is just for IRA accounts. Again, as with any tax deferred retirement account distribution, you still have to pay the taxes, but what we're talking about here, is how to avoid the normal 10% penalty. You can elect 72t at any age as long as you follow the 3 rules. The payments must be "substantially equal". You must use one of the three distinct methods of calculating what your annual payment is each year. Your Payments must continue for 5 years or until you turn 591/2 whichever occurs later. Regulation 72t is a complex tax strategy and should not be implemented without seeking appropriate advice from a qualified financial professional. Take a loan Not my favorite, but another option that may be available is to take a loan from your 401k account before you retire. 401k's generally allow you to borrow 50% of your account value up to a maximum of $50,000. One advantage is that you don't have to pay taxes on the loan amount, however, the disadvantage is that you lose the growth on your money. Before you do this, check with your plan provider to make sure you can keep the loan open after you retire. Even if your employer does allow you to keep the loan after you retire, it will likely prevent you from rolling over your 401k to an IRA. Also, make sure to keep up on your payments, otherwise the outstanding balance of the loan will become taxable and may be subject to penalties if you are under age 59 1/2. After Tax Distributions You may have money in your company retirement plan that has already been taxed. If you do, this can be another source of money that you can access before 59 1/2. The after tax portion of your account consists of two parts. The portion that you contributed after tax, and the earnings on your after tax contributions that have not been taxed. Even though the IRS rules allow you to roll the entire account over to your IRA. If you roll over after-tax contributions you will be required to keep track of what portion of every future IRA withdrawal is taxable and what part is non taxable. We don't recommend this. The preferred method is to rollover all of your pretax money to your IRA account, and then take a check for the portion of your account that has already been taxed. When you receive this check it is a non-taxable event. This money has already been taxed and therefore you can do whatever you want with this money. Depending on how much you have in your after tax portion of your account, this can be another great way to get access to some of your money, not only penalty free, but tax free as well, in order to fund an early retirement. If you want to get more tips and strategies like this, click on the link below to check out my Free Retirement Readiness Guide, 7 Step Action Plan to Creating Your Ideal Retirement!
Views: 64647 Money Evolution
How Do Business Owners Get Paid - Here's The Best Way
http://becomewealthystartingtoday.com - How Do Business Owners Get Paid You probably ended up on this page because you’re trying to find out how do business owners get paid. If so, in a nutshell, the answer is after everyone else gets paid. In my businesses, I generally set aside three times my monthly expense as backup funds then pay myself from the balance. However, the answer to the question, “How do business owners get paid?” will be different depending on who’s answering. On another note, if you’re interested in venturing into another area of business with better benefits I have a suggestion for you. I now do what I love, work when I want and where I want while earning more than ever before. To learn more about this opportunity click the link. https://www.youtube.com/watch?v=CI1fGwZ_V1s Here are some addittional articles about How Do Business Owners Get Paid Salary or Draw? How to Pay Yourself as An Owner | QuickBooks http://quickbooks.intuit.com/r/payroll/salary-or-draw-how-to-pay-yourself-as-business-owner/ QuickBooks Sole proprietors and members of partnerships are free to pay themselves — or otherwise take the profits out of their businesses — whenever they'd like. Payroll withholdings do not apply, but each individual essentially pays the equivalent on his or her reported income at tax time. business - Paying Yourself: From Startup and Beyond - Entrepreneur https://www.entrepreneur.com/article/80024 Entrepreneur business - Paying Yourself: From Startup and Beyond - Entrepreneur.com. ... your salary is one of the most important decisions you'll make as a business owner. ... So how do you know what is enough to get by and what you are worth? How Do Business Owners Get Paid? Meet The Owner's Draw ... https://justworks.com/blog/understanding-owners-draws May 16, 2016 - In many businesses workers are paid wages or a salary, and that compensation is subject to income tax withholding and employer taxes. But sole proprietors, partners in a partnership, and the members of a limited liability company are never paid wages because they are considered to be self-employed.
Views: 7756 Chris Thompson
How to Withdraw from 401k after age 60 - How to Withdraw from 401ks after Age 60
What are the ways on how to withdraw from 401k after age 60 – How to withdraw from 401ks after age 60? 1-800-566-1002 http://www.RetireSharp.com . What are the best ways how to withdraw from 401k after age 60 for retirement and learn how you can avoid the most common mistakes that individuals have made when looking how to withdraw from 401k after age 60. 401K Rollover Or 401K Withdrawal? What's the difference between a 401k withdrawal and a 401k rollover anyways? Can you do a rollover without doing a withdrawal? Read to find out how. Closer to the last stages of your retirement, you'll need to understand the distribution process. You maybe changing careers or retiring soon and in need of income. Regardless of the need, there's some standard steps that you'll need to adhere to. If not done correctly, you may face adverse tax consequences. While most employers no longer offer pensions, many still offer a 401k retirement plan. With disciplined investing, you may have saved up a substantial nest egg. If you've separated from your job or severed from service, it's very important to handle everything properly. It's very crucial you understand the 401k withdraw process. Foremost, when withdrawing from a 401k or any other qualified plan, there can be consequences. If you are 59 1/2 or older, you can take withdrawals from your 401k retirement without any penalty. In all cases that early retirement withdrawal prior to 59 1/2 can cost you an extra 10% tax. This is in addition to you being taxed at your current income rate. At age 70 1/2, it is mandatory to take withdrawals call RMD or required minimum distribution. These penalties can be avoided by doing what's called a 401k rollover. Rolling your 401k maybe the best option for deferring taxation. Doing a rollover allows you to move your funds from your current 401k to another account. This is very commonly done by moving the funds to an IRA or individual retirement account. By making a 401k rollover, you often have more control of your account than leaving it at your previous employer. This is by far the most preferred method than having an old employer keep the funds. The old employer can charge fees as well for doing so. A lump sum distribution is also an option when making a 401k withdrawal. Lets say you cash out the old 401k. Again if done prior to age 59 1/2, there is the 10% penalty. Additionally, employers will require you to withhold 20% to cover income taxes. There is one exception to this rule and it would applies to using the withdrawals for a 1st time home purchase. The limit to that exception is up to $10,000 out of an IRA or 401k for sole use of a 1st time home buyer. Another way to avoid taxation, is to do a direct transfer. This is done by transferring the funds directly from your old employer to the new IRA account you set up or new 401k from a new employer. If the distribution check was made out to you and mailed to you; then you have 60 days to complete a transfer to another institution. The direct transfer is the preferred way since it does not require a deadline to meet. Either way would work for a 401k withdrawal. Feel free to subscribe to our YouTube channel and receive instant access on different retirement related topics. Thanks for watching! Related Search terms: how to withdraw from 401k after age 60 annuities how to withdraw from 401k after age 60 income how to withdraw from 401k after age 60 explained how to withdraw from 401k after age 60 reviews how to withdraw from 401k after age 60 review What is the best fixed indexed how to withdraw from 401k after age 60 vs the top immediate income how to withdraw from 401k after age 60 for retirement https://www.youtube.com/watch?v=gR8KSYt5cz4
Views: 36858 retiresharp
How to Pay Yourself in a Single Member LLC
In today's video, I share with you the proper method to pay yourself if you own a Single Member LLC. Single Member LLC's are one of the most powerful and flexible legal entities that most online entrepreneurs use to protect not only their business, but also their personal assets. However, if you don't set up the LLC properly, it won't provide you any protection at all. Today we talk about how to pay yourself if you have set up a Single Member LLC. This will be especially helpful for you solopreneurs out there who are building businesses on the side. To schedule a phone conference: http://bit.ly/2KLHyIE Support my channel on Patreon: http://bit.ly/2E3FOd7 I've written a more in depth blog post on this issue at my website: http://bit.ly/2a2GMYy I have also prepared a business building legal checklist that you can download at the following link: https://www.hawthornlaw.net/cheatsheet For more information, you can check me out at: http://www.hawthornlaw.net Or find me on Social at: Twitter: http://www.twitter.com/hawthornlg Snapchat: @jimhart518 Facebook: http://www.facebook.com/hawthornlaw Or join our free online community at: http://www.hawthornlaw.net/facebook
Views: 215801 Hawthorn Law
SAP SD | Tax Determination | SAP Sales & Distribution Module
Tax Determination: SAP Sales & Distribution Module; Tax Determination in Sales and Distribution Module Steps to Configure Tax Determination 1) Define Tax Determination 2) Define Regional Code 3) Assign Delivering Plants for Tax Determination 4) Master Data Classification 5) Maintain Sales Tax Identification Number Determination 6) Maintain Tax Codes 7) Maintain Tax Condition Records Video by Edupedia World (www.edupediaworld.com), Free Online Education. Click here https://www.youtube.com/playlist?list=PLJumA3phskPHjbd-dsViJ1Kg8L7AKZdDT for more videos on SAP ERP- Sales & Distribution; All Rights Reserved.
Views: 7420 Edupedia World
Withdrawing money from retirement accounts
Withdrawing money Now that we've covered how to put money into your retirement account, and how to manage it once it's in there, let's take a look at how to withdraw your money. The government gives up a lot of tax revenue by letting you save through retirement accounts. The government is offering you the carrot of tax deferred savings, but it also has the stick of penalties to deter you from raiding your account before retirement. Penalties for early withdrawal Generally, you cannot withdraw money in retirement accounts until you reach the age of 59.5. If you withdraw funds early, the amount you withdraw is treated as taxable income with taxes due immediately. You also must pay an additional penalty tax of 10 percent of the amount withdrawn. As always, however, there are exceptions and you actually have a good degree of access to your money. Borrowing against retirement account assets In the case of a 401(k), it depends on the plan, but you generally can borrow against your account balance for any reason. You don't have to show any kind of hardship. You normally can borrow up to half of your account balance, up to a maximum of $50,000. The term of the loan is normally five years, and longer if the loan is used to make a downpayment on a home. You generally pay a low interest rate on the loan, and best of all, you usually pay the interest to your own retirement account. 403(b) plans also normally allow borrowing against your account. IRA's are different, however. You can't use your IRA money as collateral for a loan. 401(k) hardship cases with penalty 401(k) plans also allow you to withdraw your money in so-called hardship cases. The definition of a hardship varies from plan to plan, but some acceptable hardships include making a downpayment on a home and paying for college tuition. In these cases you can withdraw your funds before age 59.5, but you still must pay the penalty tax of 10 percent, despite the hardship. 401(k) hardship cases without penalty There are also cases where you can withdraw money from your plan without paying the penalty tax, but these are more drastic cases. If you have large uninsured medical expenses or suffer a disability and cannot work, you can withdraw the money before age 59.5 and avoid paying the 10 percent penalty tax. Also, if you die before age 59.5, your beneficiaries can withdraw the money without paying the penalty. In both cases, however, regular income taxes must be paid. Withdrawing money as an annuity Finally, you can withdraw money before age 59.5 and avoid any penalty if you agree to withdraw the money in a series of roughly equal payments each year. Assume you're 50 and have enough money saved up to retire. You can stop working and receive roughly equal annual payments from your account as determined by IRS tables. You must continue these payments for five years or until age 59.5, whichever is later. You must pay normal income taxes on the annual distributions, but you won't have to pay a penalty. Withdrawing money after age 59.5 We've talked about how to manage money before you've retired, so now let's look at how to manage and withdraw money from your accounts after retirement. After age 59.5 you can tap into your accounts without penalty, but your retirement accounts should be the last place you'll want to look for money. If you have other savings outside of retirement accounts, you'll want to use these other savings first. You'll want to let your money in the retirement accounts grow tax-deferred as long as possible. Forced withdrawals after age 70.5 However, the day will come when you'll have to begin to withdraw money from your retirement accounts. In fact, after you reach age 70.5 you must begin making minimum withdrawals from your retirement accounts according to a set schedule. Unfortunately, you can't let the money grow tax deferred forever. But in most cases when you take the money out after age 59.5, you can take out almost any amount you want, whenever you want. You can take out a big chunk all at once, or you can have your mutual fund send you checks on a monthly basis. If you receive a lump sum from a pension, you can annuitize the lump sum by turning it into a stream of monthly payments for your lifetime. However, you will have to pay income taxes on almost all the distributions that you receive from your retirement accounts. About the only exceptions are if you make non-deductible contributions to your IRA or 401(k). At the end of the year your old employer or the mutual fund will send you a Form 1099-R. This form shows how much you received from your retirement account. The IRS uses this information to ensure that the amount listed on your tax return matches the amount distributed by your mutual fund. Copyright 1997 by David Luhman http://moneyhop.com/scripts/retirement-planning/150-withdrawing-money-from-retirement-accounts
Views: 19799 MoneyHop.com
The Financial Planner - Dividend Distribution Tax
In this episode of The Financial Planner we are in conversation with Sumeet Vaid, CFP, Ffreedom decoding dividend distribution tax.
Views: 599 Bloomberg TV India
Dividend Distribution Tax - Meaning, Accounting, Disclosure and Presentation
Did you liked this video lecture? Then please check out the complete course related to this lecture, Advanced Accounting A Complete Studywith 450+ Lectures, 60+ hours content available at discounted price(10% off) with life time validity and certificate of completion. Enrollment Link For Students Outside India: https://bit.ly/2weNR0h Enrollment Link For Students From India: https://www.instamojo.com/caraja/advanced-accounting-a-complete-study-for-ca-/?discount=inyaacs4 Our website link : https://www.carajaclasses.com Course Description Welcome to this course Advanced Accounting A Complete Study for CA / CMA / CFA / CS Students. As the name says, this course is structured keeping in mind academic curriculum of Advanced Accounting Paper meant for CA IPCC / CMA Inter / CS / CFA Students. In this course, you will learn advanced Accounting topics like a) Branch Accounts b) Departmental Accounts c) Accounting for Royalties d) Accounting for Hire Purchase Transactions e) Self Balancing Ledgers f) Sectional Balancing Ledgers g) Accounting for Service Sectors, Project Accounting, etc. h) Accounting for Service Sectors like Software, ITES, Telecommunication, Entertainment, Hospital, Educational Institutions. i) Accounting for Special Transactions - Bill of Exchange j) Accounting for Special Transactions - Consignment k) Accounting for Special Transactions - Joint Venture l) Accounting for Special Transactions - Sale of goods on Approval or Return Basis m) Accounting for Special Transactions - Account Current n) Accounting for Special Transactions - Investment Accounts o) Accounting for Special Transactions - Insurance Claim (Loss of Stock and Loss of Profit) p) Accounting for Banking, Electricity and Insurance Companies. This course is structured in self paced learning style. Theoretical back ground for each and every topic will be explained followed by numerous case studies and most of them will be past examination tested problems. Take this course and gain complete understanding of Advanced Concepts in Accounting and prepare confident-ally for Professional Course Examinations.
Pension & Social Security Income Reporting
Lecture Content This lecture covers the reporting of income from retirement plans, education accounts and social security income. Topics Covered * Overview of Form 5498 IRA Contribution Information * Discussion of Form 1099R and distributions codes * Use of Form W4-P Withholding Certificate for Pension or Annuity Payments * Overview of the different kids of retirement plans taxpayers may participate in * Using Form 8606, Nondeductible IRAs, to figure the taxable part of a distribution from an IRA * Traditional IRA to Roth IRA conversions * Roth IRA to traditional IRA recharacterization * Inherited IRAs * Loans from pension and annuity plans * Additional tax owed on certain early distributions from retirement plans * Exceptions to additional tax on early distributions from retirement plans * Additional tax on certain distributions for education accounts * Additional tax on excess contributions to certain accounts * Required minimum distributions * How to complete Form 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts * Calculating the taxability of annuity income with the Simplified General Rule * Lump-sum distributions * How to report partially taxable distributions from IRAs * Instructions for Social Security Form SSA-1099 Benefits statement, Form RRB-1099 Tier I Railroad Equivalent Benefit statement, and Form RRB-1099R Tier II Railroad Retirement Benefits statement * Form W-4V social security Voluntary Withholding Request * How to calculate the taxability of social security income using the social security benefits worksheets * Taxation methods to apply to lump-sum social security payments * Special deductions relating to social security benefits income and repayments Terms of Use or Enrollment Pacific Northwest Tax School's course materials and teaching techniques are valuable proprietary information of Pacific Northwest Tax School, and all such information is subject to copyright, including written, recorded, internet based as well as all other electronic media. Each Student agrees that she/he will use the information only for purposes of education and training; and as a condition of enrollment, that they will not disseminate the information to any third party and will treat the materials as confidential information of Pacific Northwest Tax School. As a condition of enrollment, Students pledge not use any information in any competitive fashion, including to create or derive competitive materials. Students further agree that any breach of these terms and conditions shall cause the school irreparable harm, entitling Pacific Northwest Tax School to injunctive relief, as well as any other remedy that may be available at law or equity. Students shall have twelve months from date of enrollment in any continuing education course, to successfully complete the course and receive their Certificate of Completion.
How Do My Withholdings Affect My Tax Return?
Nate Ritchison, CFP® explains how your withholdings on your W-4 affect how much you owe to or get refunded by the IRS. He highlights the importance of staying on top of your taxes throughout the year, especially if your situation changes (i.e. you get married, divorced, have kids, purchased a home, etc.). Transcription: "Most of us have experienced an emotional and financial roller coaster when filing our taxes. Did you know you don't have to experience this anxiety? Hi, I'm Nate Ritchison, CERTIFIED FINANCIAL PLANNER™ with Pure Financial Advisors, and this is Question of the Week. This week's question is: How do my tax withholdings affect my tax return? Most of us, as we grow earned income, are going to owe some income taxes on that income. If you're self-employed, you have to pay quarterly taxes throughout the year. But for most of us, if we're employees of a company, we had those taxes withheld from our paychecks every month. The amount you have withheld is completely up to you, and you determine the amount you have withheld by filling out that W-4 when you first start your job. If you want more withheld, you claim more withholdings and allowances. If you want less withheld, you have less allowances claimed. This system works really well if you're a standard tax filer. That is, you're single, you have one job and you'd claim the standard tax deduction. For a lot of us, we don't fit into that category. We need to regularly review our withholdings so we don't have these surprises when it comes to filing our taxes. The surprise of if you owe money or have a big refund can be negative. The reason is because if you owe money, chances are if you owe a lot then you also have to pay your tax and a tax penalty on top of that. If you get a big refund, what you've done is you've just given an interest-free loan to the government over that period of time. Either way, you want to make sure you dial in your tax withholdings. Now, when you consider your tax withholdings, also consider some changes that can affect your taxes throughout the year--things like if you've been married or got divorced, if you've had a child, a job change or maybe even purchased a home, those are all things you might want to consider to adjust your withholdings up or down. Other things like doing some financial planning can also affect how much tax you're going to pay and maybe how much you want to have withheld from each paycheck. Things like if you have dividend income or interest income, if you have capital gains, if you have an IRA distribution you take or maybe you do some Roth conversions, these are things you want to consider because they will affect your taxes when you file your tax return. Either way, you want to make sure you stay on top of this and you adjust your taxes throughout the year, either through your W-4 or making estimated payments so that your tax season is as boring as possible. This is Nate Ritchison with Pure Financial Advisors, and this was the Question of the Week" If you live in southern California and would like to schedule a free assessment with one of our CFP® professionals, click here: https://purefinancial.com/lp/free-assessment/ http://purefinancial.com IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor. • Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
Explanation about "Good and Service Tax (GST) - One Nation One Rate"
GST will be a game changing reform for Indian economy by developing a common Indian market and reducing the cascading effect of tax on the cost of goods and services. It will impact the Tax Structure, Tax Incidence, Tax Computation, Tax Payment, Compliance, Credit Utilization and Reporting leading to a complete overhaul of the current indirect tax system. What is GST? Goods and Services Tax – GST is a comprehensive tax levy on manufacture, sale and consumption of goods and services at a national level. Through a tax credit mechanism, this tax is collected on value-added goods and services at each stage of sale or purchase in the supply chain. The system allows the set-off of GST paid on the procurement of goods and services against the GST which is payable on the supply of goods or services. However, the end consumer bears this tax as he is the last person in the supply chain. Experts say that GST is likely to improve tax collections and boost India’s economic development by breaking tax barriers between States and integrating India through a uniform tax rate. What are the benefits of GST? Under GST, the taxation burden will be divided equitably between manufacturing and services, through a lower tax rate by increasing the tax base and minimizing exemptions. It is expected to help build a transparent and corruption-free tax administration. GST will be is levied only at the destination point, and not at various points (from manufacturing to retail outlets). Currently, a manufacturer needs to pay tax when a finished product moves out from a factory, and it is again taxed at the retail outlet when sold. How will it benefit the Centre and the States? It is estimated that India will gain $15 billion a year by implementing the Goods and Services Tax as it would promote exports, raise employment and boost growth. It will divide the tax burden equitably between manufacturing and services. What are the benefits of GST for individuals and companies? In the GST system, both Central and State taxes will be collected at the point of sale. Both components (the Central and State GST) will be charged on the manufacturing cost. This will benefit individuals as prices are likely to come down. Lower prices will lead to more consumption, thereby helping companies. What type of GST is proposed for India? India is planning to implement a dual GST system. Under dual GST, a Central Goods and Services Tax (CGST) and a State Goods and Services Tax (SGST) will be levied on the taxable value of a transaction. All goods and services, barring a few exceptions, will be brought into the GST base. There will be no distinction between goods and services. Read more @ http://superprofs.com/ca/gst-goods-service-tax-ca-cma-cs-exams/ Classes are available for CA/CS/CMA. You can purchase classes at a very reasonable price. For full lectures, chapter wise log on to our website: www.superprofs.com or call at 011-39587099
Views: 118767 SuperProfs.com
Accounting for Beginners #51 / Payroll / Employees Net Pay / Where do the Taxes Go? / Accounting 101
https://www.youtube.com/playlist?list=PLT-zZCow6v8t5_2RQDnAOQHfQiBYDw26z BEST ACCOUNTING PLAYLIST ON YOUTUBE !!!!!!!! Accounting for Beginners #51 / Payroll / Employees Net Pay / Where do the Taxes Go? / Accounting 101. We really switch gears with this video. So much so, that i had to put a video of a sideshow in. We went to payroll. And this video is focusing on the Employee's check. How you start with the gross amount minus taxes and you are left with the net amount. The easiest way to keeps debits and credits, and Assets = Liabilities + Equity ( Accounting Equation) straight. This is how i passed the CPA Exam to become a licensed CPA in the State of Florida. You can use the information in the video on your first day of Accounting class all the way tho being a CPA. Debits, Credits, Assets, Draw, Expenses, Liabilities, Equity, Revenue. This video has a very basic example and can be used in the most advanced situations. Learn Debits and Credits and the basic accounting equation which is assets = liabilities + equity. This will also help with the income statement which is Revenues - Expenses. I hope you enjoy the video. In this video i go over journal entries. Get your tips here in this accounting for beginners video. There is also information on the balance sheet here in this video. I also go over Accounts Receivable, Accounts Payable, Depreciation, Accumulated Depreciation, Putting Assets on the books, Fifo and Lifo Inventory Valuation, and so much more in this series for beginners. Accounting For Beginners #1 https://www.youtube.com/watch?v=_pTU4gwmcMs Debits and Credits / Assets = Liabilities + Equity Accounting For Beginners #2 https://www.youtube.com/watch?v=0--jJn6zqfg Basics / Accounting Equation Accounting For Beginners #3 https://www.youtube.com/watch?v=YXFEEr3qHIo Journal Entries / Beginner Tips Accounting For Beginners #4 https://www.youtube.com/watch?v=Yy1DtVND7yo Income Statement / Revenue - Expenses Accounting For Beginners #5 https://www.youtube.com/watch?v=fEtBFB_Nq-o The Balance Sheet / Basic Tutorial Accounting For Beginners #6 https://www.youtube.com/watch?v=XyB3mmzQ_jU Putting an Asset on the Balance Sheet Accounting For Beginners #7 https://www.youtube.com/watch?v=H4udCOiU8i8 Depreciating an Asset / Basics Accounting For Beginners #8 https://www.youtube.com/watch?v=xjXgpnUEgFI Depreciation Expense / Basics Accounting For Beginners #9 https://www.youtube.com/watch?v=QFV6PGIMT5M Accounts Receivable / Basics Accounting For Beginners #10 https://www.youtube.com/watch?v=xQ0u_QocSO4 Accounts Payable / Basics Accounting For Beginners #11 https://www.youtube.com/watch?v=tFA9HD3-7SI Fifo and Lifo Inventory / Basics Accounting For Beginners #12 https://www.youtube.com/watch?v=Z-g1Tnf3oi4 1 Journal Entry With 2 Assets / Basics Accounting For Beginners #13 https://www.youtube.com/watch?v=ds2Y0MxzMBA Accounting Study Guide / Template Accounting For Beginners #14 https://www.youtube.com/watch?v=BU9emeoLKX0 Journal Entry with Cash / Expense Accounting For Beginners #15 https://www.youtube.com/watch?v=kwCtASXQRLU Journal Entry With Cash / Revenue Accounting For Beginners #16 https://www.youtube.com/watch?v=1YrcjlHFBZ0 Debits & Credits / Negative Asset Accounting For Beginners #17 https://www.youtube.com/watch?v=amf1hyptG70&t=25s T-Accounts / Debits and Credits / Accounting 101 Accounting For Beginners #18 https://www.youtube.com/watch?v=18zPzkMbS2c What is a Draw? / Withdraw / Distribution / Dividend / Equity Accounting for Beginners #19 https://www.youtube.com/watch?v=r43j010KT58 Don't Abbreviate / Accounting 101 / Basics Accounting For Beginners #20 https://www.youtube.com/watch?v=yXJVISZA8yU Chart of Accounts / Assets, Liabilities, Equity, Revenues, Expenses Accounting For Beginners #21 https://www.youtube.com/watch?v=CK9NgJoqJa4 T Account Example / Accounting Tutorial Accounting For Beginners #22 https://www.youtube.com/watch?v=EC93RsvgK9E&t=25s Trial Balance Unadjusted / Accounting Basics Accounting For Beginners #23 https://www.youtube.com/watch?v=-9-LAnE61lw&t=25s Cash in a Bank Account / Checking Account / Basic Accounting Accounting For Beginners #24 https://www.youtube.com/watch?v=aUjVslkn4HI&t=25s Does The Transaction Increase Assets / Accounting Basics Accounting for Beginners #25 https://www.youtube.com/watch?v=zKreBUTJx5E&t=25s Accounts Receivable Example / Accounting 101 / Accounting Basics Accounting For Beginners #26 https://www.youtube.com/watch?v=66YddsOGau0&t=312s Reducing Accounts Receivable / We got Paid / Accounting basics. #Accounting #Exercise #CPA
Views: 8840 CPA Strength
10% Early Withdrawal Penalty Tax
If you receive a TSP distribution before you reach age 59½, you may be subject to a 10% early withdrawal penalty tax in addition to the regular income tax.
Views: 52104 TSP4gov
What Is The Tax On Dividends
What is the tax on dividends KNOW MORE ABOUT What is the tax on dividends Tax on dividend income in india 2018 myloancare. Add your income from dividends to other taxable when working 18 jun 2018 while the tax cuts and jobs act didn't make any big changes way dividend is taxed, new brackets 12 mar this guide was designed help investors understand what it is, rates, how calculated 6 apr recent in code means certain u. Do i need to pay tax on dividend income? Cleartax. 16 feb 2018 finance minister arun jaitley in his budget 2018 speech has proposed to introduce dividend distribution tax (ddt) in case of equity mutual 29 may 2018 the dividend tax rate you will pay on ordinary dividends is 22. Under the new law, qualified dividends are taxed at same rate as long term capital gains, which is 15 percent for most individual taxpayers. The internal revenue service considers what is dividend tax? How much tax do i pay on dividends in 2018 19? Will the allowance increase my bill? When payable? Which if you want to know how you'll from 2017 18 year complete your self assessment return, use our a shareholders (beneficial owners) when are paid them, and, under normal circumstances, withheld their 22 feb general rules for qualified and capital gains have not changed cuts jobs act. Learn how this can if you received dividends from any of your investments year, may have to pay income tax on these payments. Googleusercontent search. Qualified dividends are that meet the requirements to be taxed as capital gains. Qualified dividends received by individuals in the 10. How to pay no taxes on your dividends or capital gains. Dividend tax rates beginners guide the balance. Dividend from a foreign company is taxable at the applicable income dividends received any indian upto rs. They are still one of the Do i need to pay tax on dividend income? Cleartax. 26 nov 2017 dividend received from a domestic company is exempt from income tax. Dividend tax wikipedia do i need to pay on dividend income? Cleartax cleartax s how dividends taxable "imx0m" url? Q webcache. Generally, any dividend that is paid out from a common or preferred stock an ordinary unless otherwise stated. Dividend tax wikipedia. Illustration 1 tax at the rate of 10. Under current law, qualified dividends are taxed at a 20. Your 2018 guide to dividend taxes the motley fool. 10 lakhs are tax free in the hands of the investors under section 10(34). 20 jul 2018 dividend received from an indian company is exempt from tax, whereas the dividend received in excess of rs 10 lakhs is taxable tax on dividend income received by individual huf firms. The shareholders pay taxes first as 4 apr 2018 the dividend taxation system was changed on 6th april 2016. Households pay no taxes on qualified dividends and lt capital gains. How much is taxed on dividend income and how to report it? Efile. What is the double taxation of dividends? Dividends what are they, and how they taxed? It contracting. The old system, which invol
S Corp Shareholder Compensation
Don't risk an audit. If you're an S Corp shareholder pay yourself a reasonable salary before taking a tax free distribution. Checkout ARI's YouTube Channel for other important videos: https://www.youtube.com/user/ARIAssociates Visit ARI on FaceBook: https://www.facebook.com/AlexanderRemingtonInternational
How long does it take to see Earnings from DistroKid?
When it comes to being an independent musician, one of the biggest aspects is getting paid. I love DistroKid, and I use it to release all my music, so in this video I answer a popular question which is when you get paid from DistroKid. It's a bit longer than I would like, but once you get into a rhythm, it doesn't matter too much Check out DistroKid here (7% Discount!): https://distrokid.com/vip/seven/576311 My review of DistroKid: http://marcfreccero.com/distrokid-review/ DistroKid Videos: https://www.youtube.com/playlist?list=PLC6_h3BCPalWiwLEeS-cpQFHyN9N_WmfW
Views: 33476 Marc Freccero
Mukhriz wants fairer tax revenue distribution
Kedah Menteri Besar Mukhriz Mahathir has suggested that the federal government look for a new method to distribute the federal tax revenue fairly to all states, especially those with low income. He said according to the federal system, the federal government would collect taxes from numerous sources nationwide before sharing the revenue with the states. “Kedah has the lowest income, we don’t have oil or gas, so we don’t get any royalty payment. We only have forests, but even then, logging is not permitted. We understand this matter and want to manage the state’s natural resources sustainably. “Thus, I would like to suggest that the new federal government fairly distribute tax revenue for the benefit of all, especially to low-income states like Kedah,” he said after receiving a courtesy call from Rural Development Minister Rina Mohd Harun at his office in Wisma Darul Aman.
Views: 577 Free Malaysia Today
Quickbooks Owner Draws & Contributions
In this video, we demonstrate how to set up equity accounts for a sole proprietorship in Quickbooks. We also show how to record both contributions of capital and draws from equity by owners.
Views: 104752 PaperTrailFinancial
Life Insurance Policy Withdrawals, Loans & Annuitization Training
EduTrainer Steve Savant coaches you through the basics of withdrawals of life insurance polices, policy loans & annuitization of life insurance policies. Edutrainment Workshops: The Essentials for Life Insurance - Withdrawals, Loans & Annuitization Training Depending on the status of the policy as issued, modified endowment or non-modified endowment contract, will determine the distribution options taxable status. However for simplicity sake withdrawals and policy loans will assume the contract was issued as a non-modified endowment contract and that the contract is kept in force for the life of the insured. Withdrawals of basis taken after 15 years, to avoid exposure to taxation of any accumulated policy gains under the force out rule, should be tax free. Policy Loans of Gain taken during the life of the in force policy will be subject to charges that may or may not be offset by interest crediting and any accrual costs that may occur because of the charging and crediting time disparities. Life Time Annuitization & the Exclusion Ratio will be considered as a modified endowment contract with distribution payments comprised of tax free basis generally amortizing to the insured's life expectancy and table policy gains. Any taxable events will be subject to ordinary income tax at the policy owner's "blended" tax bracket. Life Insurance Basic Entry Manual: Order- [email protected] Download Lincoln Benefit Life's user friendly proposal software and follow Steve Savant as he teaches the basic concepts of life insurance at www.lblsales.com/etw EduTrainment workshops is sponsored by Lincoln Benefit Life, An Allstate Company
Views: 10531 BrokersAlliance
How to Fill out Form 1120S
This is a how to video for those looking to fill out form 1120S, SCorp tax return, themselves. I HIGHLY recommend using a CPA for this return, but if you want to give it a go yourself, this will help. Or if you want to learn more about the form so you know what your CPA is looking for this video would be very helpful. For those looking for help with this form, email me at [email protected] or see our website at cpajdb.com. We offer several packages for small business owners.
Views: 73091 Josh Bauerle
Borrow From Your 401k and Increase Net Worth (Part 1)
Borrow from your 401k is fine, especially if you have expensive debt! In this video, we actual model the results of two scenarios: 1. Borrow $10k from the 401k to pay off $10k credit card. 2. Don't borrow $10k from 401k to pay off $10k credit card. We'll call the guy in scenario 1, Josh, and the guy in scenario 2, Joey. They both have an expected rate of return on their 401k of 6%. They also both paying 10% interest on their credit card. Josh says to Joey he is going to borrow from his 401k to pay off that credit card. Joey, having read ALL of the financial literature that's out there, says that's crazy and he will continue to pay the credit card debt with monthly payments. When Josh took out the 401k loan the interest rate he paid was 4.5%. He also has to pay the loan back over 5 years, 60 months, meaning his monthly payment was $188 Joey paid the exact $188 a month towards his credit card. Who do you think came out ahead??? Well, unsurprisingly, it was JOSH. Why? Simple, the 4.25% interest he is paying on the loan goes back to HIM! Also, each $188 monthly payment is growing at the expected rate of return of 6% as well. Josh took out $10k to pay off $10k in debt and paid $11,280 back..100% of which went back to his account. On top of that, that $11,280 was also growing at 6%. Thus over that 60 month time frame, the $11,280 he paid back grew to $13,177! At the end of 5 years his total account was worth $67,070. Joey, on the other hand, decided to leave his 401k untouched and instead directed his $188 a month payment towards his credit card. Unfortunately for him, after 5 years, he still had a balance of nearly $2,000 on his credit card! Plus, while he started with more than Josh, after 5 years his 401k only grew to about $67,000 while Josh had a bit more in his account, EVEN after taking the $10k loan! Ultimately, Josh was nearly $2,000 wealthier than Joey after borrowing from his 401k to pay off his credit card debt. Will this scenario ring true always??? Of course not. If your expected rate of return is higher than your credit card interest, well, you may want to reconsider. (I'd simply ask how you expect to get that return though???) Maybe you have a 0% teaser rate on your credit card. My default is to pay down debt, but I get the arbitrage opportunity that exists by using a 0% card and allowing your investments to grow. What if you leave your job BEFORE the 401k loan is paid off? Then you' will pay ordinary income (OI) tax on the remaining balance of the loan, PLUS if you're under 59.5 you'll also pay a 10% penalty. So, again, proceed with caution. But don't simply just follow the herd blindly over the cliff and close your eyes to the opportunity that does exist. Now, you can NOT borrow against an IRA. So, if you have an IRA and are considering taking a distribution in order to pay off a debt, remember, PLEASE, that each dollar you do take out will be taxed as OI AND if you're under 59.5 you're going to pay that 10% IRS penalty. In this case a it will take more than a $15,000 distribution from an IRA for someone who is say 50 years old in a 25% tax bracket to net the $10k to pay the credit card. Don't do that! On the other hand, what if you have a TAXABLE account with some gains in it. Should you use that? Maybe. Say you have an account worth $10k that consists of $5k of long term capital gains. Well, in this case you'd pay $750 in a one-time capital gains tax to avoid the 10% interest charge, EACH YEAR! Makes sense to me to do that. But each situation is different. So, choose your path carefully. Finally, the best solution of course is to not have any debt! But that's a tough pill to swallow for most Americans today. Things just cost more than the cash we have available. Going forward though TRY to get out of debt. That is the best financial planning move you can make. I'd love to hear your thoughts. Put questions and comments below. Stayed tuned for part 2 of how borrowing from your 401k can make you money. In this second scenario we are not even going to use the 401k loan to pay off debt. We're just going to invest it. Watch and learn how borrowing from your 401k can actually INCREASE your net worth. Thanks! ================================= If you like what you see, a thumbs up helps A LOT. So, give me a thumbs up, please! Don't forget to SUBSCRIBE by clicking here: https://www.youtube.com/channel/UCSEz... GET MY BOOK: Strategic Money Planning: 8 Easy Ways To Put Your House In Order It's FREE if you're a Kindle Unlimited Subscriber! https://amzn.to/2wKGi50 GET ALL MY LATEST BLOGPOSTS: http://heritagewealthplanning.com/blog/ PODCAST: https://itunes.apple.com/us/podcast/j... LET'S SOCIALIZE! Facebook: http://Facebook.com/heritagewealthpla... Linkedin: https://www.linkedin.com/in/joshscand... Quora: https://www.quora.com/profile/Josh-Sc... Google +: https://plus.google.com/u/1/108893802...
Is there really a new tax code that lets you reduce your required minimum distribution?
http://IncredibleRetirement.com 800-393-1017 Is there really a new tax code that lets you reduce your required minimum distribution? This was the question one of our clients recently asked us. They had received an unsolicited email from somebody that they had never heard of. The subject line read something like, if you don't need your required minimum distribution, you don't have to take it if you use this new strategy? What could this new strategy, an exciting new IRS regulation be? Surprise! It’s an annuity, but not just any annuity. It’s a QLAC, a qualified longevity annuity contract. Here's what we told our client - this so-called new tax code, yeah, it came out back in 2015. So it's not a brand-new, super-secret provision in the tax code. Yes, we are familiar with qualified longevity annuity contracts, and so far, we just haven't been able to justify or recommend using them. We can send you tons of academic research that pretty much says most folks are better off keeping their money in a diversified investment portfolio. In our opinion, using the angle of reducing your required minimum distributions is a little disingenuous. Yes, your required minimum distributions are reduced based on the amount you put into a QLAC, but the reduction, in our opinion, is minimal. The maximum amount of money that you could put into a qualified longevity annuity contract is 125,000 or 25% of your IRA balance, whichever is lower. If you have an IRA valued at over a half a million dollars, you could put in $125,000 into a qualified longevity annuity contract. Your required minimum distribution would go down by maybe $5,700, and that reduces your taxes by maybe $1,425. so it's just not that huge of a tax reduction strategy, at least not the way this email made it sound. The way these contracts work is - at some point in the future, 5 years, 10 years, 20 years, you start getting income payments for life, no matter how long you live. The example they sent our client offered two options, which are the only options that these contracts have. It's life only either with or without a refund option, and there's a single life and a joint life option. They only sent our client the single life information, and here's what we found - with the life only with refund option, it would take him almost 15-1/2 years just to get back his initial deposit before he started collecting any of the insurance company's money. The good news is - if something did happen to him during the first 15-1/2 years, his heirs would've at least gotten back the initial deposit, less any payments already made. But if that happened, there would've been zero interest earned on the money - not a bad deal for the insurance company. If he went with the life only with no refund option, then he gets a bigger check every month and the time it takes to get his initial deposit back is reduced - now it's only 13-1/2 years that he has to wait in order to get his initial deposit back. The bad news is - if something did happen to him during the first 13-1/2 years, nothing would've been paid to his heirs. This is what the annuity industry calls mortality credits. The money not paid out to people who die early is used to pay out to people who live longer than the life expectancy the annuity company used to determine their payment amount. Again, not a bad deal, for the insurance company. Then, just to make things interesting, I checked out the background of the advisor that sent this email. The company that he works for, surprise, a wholly owned subsidiary of the insurance company selling this annuity contract. Huge conflict of interest, don't you think? Before you make an investment decision, especially on something that's new to you, get a second opinion from a trusted financial advisor. Someone who doesn't have skin in the game, someone who's not going to profit from your decision to buy a product. if you're not already a client of ours, we do provide a complementary second opinion service. We’ll evaluate whether your current financial advisors are taking good care of you. If they are, we’ll recommend that you stay with them. If not, we’ll evaluate whether we would be the right advisor for you. If we aren’t a good fit for your situation, we’ll point you in the right direction for you.
Views: 148 Brian Fricke
How to maintain company Salary payroll in Tally erp9(HINDI) All step with examples
How to maintain company Salary payroll in Tally erp9(HINDI) All step with examples
Views: 314789 Anirban Sarkar
Partnership Taxation | Corporate Income Tax | CPA REG | Ch 21 P 1
Partnership taxation, taxation of partnership, separately stated items, non-separately items, cpa exam, capital balance, capital interest, LLC, LLP, general partnership, limited partnership, flow through entity, profit sharing ratio, guarantee payments, form 1065, schedule k-1, inside basis, outside basis, built-in gain, built-in loss, precontribution gain,
Are Distributions From Pensions Taxable In PA?
Box 2a should lump sum distribution, see form 4972, tax on table 7 2 income items never taxable as pa compensation 13. Pa income tax and withholding summary for employment related pennsylvania good state retirement, bad death. File filing instructionsberkheimersmartasset. Normal distributions (box 7 coded a 4 or 7) are not taxable on if the taxpayer feels that none of this income should be in pa, an adjustment distribution is for pa purposes, unless (1) your pension do you pay taxes pensions from state retired you're while pennsylvania exempts and social security taxation, traditional 401(k) federal return, most states tax laws make retirement received payment own sers also survivor beneficiary how much total paid to. In pa, retirement income is not taxable if jul 27, 2015 pennsylvania a smart choice for budget minded retirees because in fact, 401k withdrawals you may never pay any state taxes security, private or public pensions, deferred compensation plans, apr 25, 2007 the most notable difference involves pennsylvania's taxation of elective distributions from plan (including 401(k), 403(b) and simple keoghs, other pension plans are subject to tax oct 13, this ira distributions, social security all does include life insurance person's 7, 2013 when federally tax? Pennsylvania doesn't income, including account single. Pennsylvania additions to taxable income knowledgebase. W 2 wages and 1099 r ira pension distributions, pa schedule w 2s part b miscellaneous compensation from misc or use this to report taxable distributions may 8, 2017 you took a distribution retirement account (ira, roth ira, 401k, since it is considered pa, be included as income will pay $366 of pennsylvania state taxes on your pre tax withdrawals accounts are not taxed. Ira payouts may avoid state income tax wsj. Pa state tax on early distribution from retirement plan turbotax how do i know if the amount my 1099r (1099 r) is taxable or pension income subject to personal tax? . Feb 18, 2004 distributions you receive after age 59 are not taxable even if retired. Pa state tax on early distribution from retirement plan turbotax. If you invested in a retirement annuity that is not part of an employer sponsored program or commonly recognized program, have pa taxable income when begin receiving payments dec 10, 2002 as long retire and receive distributions from qualified pension plan by either meeting years service age requirement the plan, your for state purposes 3, tax if retired how do i determine my ira withdrawals are subject to tax? . All 2014 distributions were taken prior to client reaching age 59. Chapter 7 gross compensation pa department of revenue. 1099 r tax form pennsylvania state employees' retirement system. Retired to pennsylvania federal retirees soup. Custhelp app answers detail a_id 1470 how do i know if the amount on my 1099r. Taxprotalk view topic pa tax treatment of lump sum pension retiring and pennsylvania income penn national. Wages are taxed at normal public
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Learn How to Create Payroll or Salary Statement in Excel, How to Calculate DA, HRA, PF, Gross Salary, EPF, LIC, Total Deductions and Net Salary in Hindi, also learn how to format or Design Salary Sheet for your employees. Learn Excel basic formulas Sum, Percentage, Subtraction etc. Create Salary Statement in excel, create payroll in excel, create salary sheet in excel. Useful for Rscit course and all computer courses such as ccc,bcc,o level,pgdca students, also useful for students who are apply for govt job competition exams. Thanks for Watching!!! Have a Nice Day! Watch - MS Excel Paste Special Advance in Hindi - https://www.youtube.com/watch?v=u_ZKXJNHTkE Watch-MS Excel Paste Special Advance in Hindi https://www.youtube.com/watch?v=u_ZKXJNHTkE Watch-Learn MS Excel in hindi Part-1| Sum,Multiplication,Subtraction & Division |All About Excel https://www.youtube.com/watch?v=xuxmniuMMIU Visit Our Website: http://www.cpitudaipur.com Visit Our Blog: http://cpitudaipur.blogspot.in/ Like Our Facebook Page: http://facebook.com/cpitudr Please Subscribe to Our Channel https://www.youtube.com/channel/UCSMsxXvvi-7XvygtsMWRBOg
Tax Reform: 2017 Year-End Planning
With the ever-changing tax reform, make sure you prepare ahead of time. Don't be blindsided by the potential changes that tax reform could bring. Alan Clopine, CPA walks you through critical year-end tax planning strategies that you might want to implement before 2018. Transcription: "There's a final Republican tax bill. House and Senate party leaders have negotiated differences between their two bills. Now this bill is still being written as we speak. This is changing hourly, daily, so stay tuned. Some of the information I'm telling you may change but here's what we know at this point. There are a couple things that may go away starting next year. One is the ability to deduct your state and local taxes except up to about $10,000. That's what's in the current bill that the Senate and House will be voting on. In other words, if you have property taxes of $6,000 and state taxes of $10,000, that's $16,000. You can only deduct $10,000 of that. So you might want to prepay your state taxes for 2017 before December 31st. You also might want to prepay your April tax payment by December 31st to make sure that you're getting a full deduction because you may not get that deduction next year. Here's another thing that's really important and we're being a bit cautious here, but Roth IRAs. When you convert an IRA to a Roth IRA you have to pay tax on the conversion. Some of you may have done a Roth conversion realizing that you can always undo a Roth conversion in the next tax year all the way to your filing due date. In other words, you could do a $50,000 Roth conversion in 2017 and by April 15th you could recharacterize all or part of that and pay no tax if you're a too high of a tax bracket. It looks like in this bill recharacterizations are going away. And nobody knows this for sure but there's a concern that the recharacterizations will not even be available next year for 2017. So we're advising all people that have done Roth conversions in 2017 if you're planning to recharacterize or undo some of this please do it by December 31st to be safe and don't delay because your brokerage firm, like Fidelity or TD Ameritrade, they may not be able to process this on the last couple days of the year. So do this right now, as soon as you get this message. If you're planning to recharacterize, please be safe because you may not be able to recharacterize next year. If you would like more information go to purefinancial.com." If you would like to schedule a free assessment with one of our CFP® professionals, click here: https://purefinancial.com/lp/free-assessment/ Make sure to subscribe to our channel for more helpful tips and stay tuned for the next episode of “Your Money, Your Wealth.” https://www.youtube.com/subscription_center?add_user=PureFinancialCFP Channels & show times: http://yourmoneyyourwealth.com https://purefinancial.com IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor. • Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.

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