If you hold digital assets for less than a year, your capital gains are considered short-term and taxed as ordinary income, which can be as high as 37% depending on your federal tax bracket. Your state, county, or even city of residence may tax your capital gains as well, potentially ...
AnRESP is open by a "subscriber,"which is the technical term for the person who makes the contributions to the account. A parent is a typical subscriber, but there are not many limits onwho can be a subscriber. An uncle or family friend might set one up for you if your parent cannot...
(Look at Europe.) How's this for irony: The vast majority of public employee unions are political progressives (i.e. virtually all their contributions go to Democrats). That includes the phalanx of employees at the NYS Departments of Health and Education, and their local cousins, with whom...
Lump sum contributions (for us we might sell our house at some point and invest it for a number of years before buying something again, if ever) There’s a good one at spark rental but not specific enough for my needs. Does anyone know if/where something like this exists? I guess if...
30k – I pay myself 3. Convert portion of tIRA during period of no/low income (taxed at reduced rate) to Roth IRA. 4. Wait four to five years calendar years, depending on date of conversion (because years are counted instead of actual date, so a conversion on 1/1 is treated the ...
1 Many retirees find themselves in a lower tax bracket than they were in pre-retirement, so the tax-deferral means the money may be taxed at a lower rate.2 Roth IRA - You make contributions with money you've already paid taxes on (after-tax), and your money may potentially grow ...
3. Upped my 401k contributions to 20% each year to cap out by November. Participated in HSA. 4. Added in various other investments. Fundrise, Prosper, Ameritrade. “Play accounts” Yeah, yeah. I know. But I’ve got an obsession now and they are minimal. ...
That's the title of my latest piece in The Guardian. There are two key points First, in terms of effective tax rates and tax paid, any means-tested Guaranteed Minimum Income can be replicated by a non-tested Universal Basic Income, and vice versa Second,
In economics, taxes fall onwhoever pays the burden of the tax, whether this is the entity being taxed, such as a business, or the end consumers of the business’s goods. From an accounting perspective, there are various taxes to consider, including payroll taxes, federal and state income ...
716 to pay for a $3,000 medical procedure such as laser eye surgery, but just the pretax $3,000 if you use an HSA. (Note that HSA contributions are generally subject to state tax.) That’s a savings of $1,716.