The Tax Questions Blog

Posts Tagged ‘abroad’

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Question: Would receiving unemployment checks & IRA monthly distribution be an additional taxable income for a retiree?

For a retiree before the age of 65 years old, a precalculated additional income is set by the government. Once the additional income is more than the set value per year, the pension is temporarily cut-off until the age of full retirement of 65 years is reached.

Answer: Are you talking about the cutoff for having your social security docked? IRA distributions and unemployment don't count toward that limit, only EARNINGS from working.

And full retirement age, when the reduction ends, isn't 65 any more unless you were born in 1937 or earlier.

How to Retire Happy, Fourth Edition: The 12 Most Important Decisions You Must Make Before You Retire $10.96 The Washington Post and New York Times Business Bestseller “Everyone in the workforce today should read this book!”—HORACE B. DEETS, FORMER EXECUTIVE DIRECTOR, AARP “Want excellent insights on retirement planning from a professional who’s actually experienced retirement himself? You’ll get just that from Stan Hinden’s book.”—STEVE VERNON, COLUMNIST, CBSMONEYWATCH.COM Award-winni...

State and Local Pensions: What Now? $21.00 In the wake of the financial crisis and Great Recession, the health of state and local pension plans has emerged as a front burner policy issue. Elected officials, academic experts, and the media alike have pointed to funding shortfalls with alarm, expressing concern that pension promises are unsustainable or will squeeze out other pressing government priorities. A few local governments have even ...

The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between $8.97 A timeless approach to investing wisely over an investment lifetimeWith the recent market maelstrom as a background, this Wall Street Journal bestseller describes just how to plan a lifetime of investing, in good times and bad, discussing stocks and bonds as well as the relationship between risk and return.Filled with in-depth insights and practical advice, The Investor's Manifesto will help you u...

A Centrist Gets Fighting Mad

Fed up with extremists, Mark McKinnon fires off a 12-point plan for a centrist comeback. From neutering czars to legalizing gay marriage, a full-throated defense of the mushy middle.

Senator Craig M. Johnson Announces Taxpayer Payer Abuse Assessment Legislation

Question: I'm younger than 55, are periodic distributions received from the pension of a deceased relative taxable?

Answer: yes

How to Retire Happy, Fourth Edition: The 12 Most Important Decisions You Must Make Before You Retire $10.96 The Washington Post and New York Times Business Bestseller “Everyone in the workforce today should read this book!”—HORACE B. DEETS, FORMER EXECUTIVE DIRECTOR, AARP “Want excellent insights on retirement planning from a professional who’s actually experienced retirement himself? You’ll get just that from Stan Hinden’s book.”—STEVE VERNON, COLUMNIST, CBSMONEYWATCH.COM Award-winni...

State and Local Pensions: What Now? $21.00 In the wake of the financial crisis and Great Recession, the health of state and local pension plans has emerged as a front burner policy issue. Elected officials, academic experts, and the media alike have pointed to funding shortfalls with alarm, expressing concern that pension promises are unsustainable or will squeeze out other pressing government priorities. A few local governments have even ...

The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between $8.97 A timeless approach to investing wisely over an investment lifetimeWith the recent market maelstrom as a background, this Wall Street Journal bestseller describes just how to plan a lifetime of investing, in good times and bad, discussing stocks and bonds as well as the relationship between risk and return.Filled with in-depth insights and practical advice, The Investor's Manifesto will help you u...

Head of little-known agency is a $1-million man

There are a lot of B.C. public servants who earn six-figure salaries -- more than 13,000 of them, in fact.

Will my retirement pension be taxable in Spain?

Question: Poll: How many of you would prefer to have a consumption tax and abolish the IRS?

It's been said that with a consumption tax, we could save tons of money abolishing the IRS. The revenues that would come in would actually increase under this plan. For instance, a person who buys a Ford, would pay on the value of that type of car, where a person who buys a Lexus would pay a much larger tax. Same with housing, etc. With this plan, there would be no loop holes for anyone, everyone would pay taxes on what they purchase. The only non-taxable things would be food and medicine. There are a lot of economists who say this would work.What do you think?

Answer: Sounds good except they want it to be about 40% on the dollar which is a heck of a lot more than we are paying now! And that doesn't count state income taxes!

My mom use to say if it sounds to good to be true then it probably isn't.

I think that fits the consumption tax pretty good

Installment/lump-sum benefits election. (tax rule on shadow stock benefits of employees not actually received as non-taxable) (Brief Article): An article from: The National Public Accountant $5.95 This digital document is an article from The National Public Accountant, published by National Society of Public Accountants on September 1, 1991. The length of the article is 452 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web ...

Deferred compensation: why is it taxable now?(FINANCE): An article from: The Non-profit Times $9.95 This digital document is an article from The Non-profit Times, published by NPT Publishing Group, Inc. on January 1, 2011. The length of the article is 1247 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Deferred compensation: why...

Deferred compensations: taxable if not subject to a substantial risk of forfeiture.(FINANCE): An article from: The Non-profit Times $9.95 This digital document is an article from The Non-profit Times, published by NPT Publishing Group, Inc. on March 1, 2011. The length of the article is 1223 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Deferred compensations: taxa...

Projections on tanning-parlor tax appear to be far too high

Just before leaving Washington, lawmakers cut a controversial cosmetic-surgery tax from the Senate version of the health-care bill and, in its place, tucked in a 10 percent tax on indoor tanning services. The new tax, proposed by the American Academy of Dermatology Association, is meant to discou...

$200,000 Residual Income

Question: Can a 64-yr old retiree receiving pension & social security benefits make a non-taxable contributution to IRA?

Retired a couple of years ago and collecting SS benefits and Medicare and pension. Want to put up to $3,000 per year for the next few years in a regular IRA. Does the IRS regs/rules prevent me from doing so? Penalties or ok?

Answer: Not unless you have earned income - salary or wages.

MPs' Expenses: Sir Ian Kennedy agrees to advance £4,000 each to cash-strapped MPs

The body which runs the new Commons expenses system has agreed to give £4,000 up front to cash strapped MPs after complaints about the way the new scheme was being set up.

В.Путин.На заседании Президиума.26.05.08.Part 2