thus allowing more government surveillance of who’s forking over money to the protesters. The government will also be using its expanded powers to allow financial institutions to freeze the corporate accounts o
Another way to minimize the effects of the NIIT is to delay income, such as year-end bonuses or capital gains, to stay below the threshold in a given year, says Carey. Investors can also use the strategy of harvesting capital losses to offset taxable gains and lower their MAGI. "Another...
The Tax Court recently calculated the fair market value (“FMV”) of life insurance policies distributed by a terminated 419 welfare benefit plan. The FMV of the policies—which must be included in the taxpayers’ income—was determined by the court based on: (1) surrender charges, (2) con...
In contrast, our SIPPs benefit from a massive cliff-edge if you enjoy higher-rate tax relief when you pay in but your retirement income falls mostly in the 0-20% band. This feature of the UK tax system tilts the playing field heavily in favour of pensions vs ISAs, as we’ll see. I...