If you buy an annuity in pre-tax dollars, the annuity payments will be fully taxed as income. If you purchase an annuity with after-tax funds, you only have to pay income tax. Annuities...
Net interest income can be referred to as a financial performance that shows the difference between the revenue from the interest-bearing assets of a bank alongside the expenses that...
A program was created by the Federal Unemployment Tax Act (FUTA) to help state government pay terminated workers unemployment benefits. Employers that pay wages of $1,500 or more annually...
Couples living in a community property state own their marital properties, income, and assets jointly. If you earn around $75,000, the income is yours as much as it is your spouse....
If you are contemplating going with a reverse mortgage or HECM loan, it is imperative to research this unique retirement option's financial impact. A reverse mortgage allows you...
The QBI (qualified business income deduction) allows individuals to deduct up to 20% of business income, REIT dividends, or PTP income from personal income tax returns. Those who are...
Estimated tax is the method some employers use to pay income taxes. When paying income taxes, there are two methods allowed by the IRS; the withholding method or, you guessed it, the...
Traders can enjoy significant tax savings and here are some rules that the IRS checks before qualifying traders.Hours: It would help if you spent at least four hours per day trading...
What is a combat zone?A combat zone is designated as a war zone for a specified period with the aim of reporting to the Internal Revenue Service by military personnel. While serving...