| Income Fund |
| Dividend income from mutual funds? |
Yes. The Dividend re-investment is also like a new investment and you are allowed exemption u/s80C.
You have to show the tax free dividends in ITR return form under:
Schedule EI; Details of... |
| Will those who saved diligently their whole working lives to their fund retirement ultimately be punished? |
Probably.. that mass of soulless, valueless boomers will have a lot of political power to vote themselves the goodies they need to keep their self-centered indulgences intact. ... |
| Should I dump my mutual fund to buy Berkshire-Hathaway? |
check morningstar.com fund screener (free) ..... you can see which funds have a great track record over time ie EKWAX >20%/yr avg over 10yrs! , up 5% this year already when most are negative, or... |
| Why is my state income tax refund $7.00? |
You paid in just the right amount. Take your wife to Burger King for dinner. ... |
| How can a new real estate company having expenses but no income, raise funds of revenue nature to meet its exp |
investors.. ... |
| Does the IRS consider the sale of mutual funds as income? I used post-tax earnings to purchase the funds.? |
The profit is taxed, not the gross proceeds. The problem is that, if you don't report the sale, the IRS assumes the cost was $0.00.
I assume that you just received a letter from the IRS. ... |
| Should invest in equity index or equity income mutual funds ? |
Only 2 choices? Which index fund? Which equity income funds? It makes a big difference which you might select rather than the category.
Let me give you a couple of examples of what I mean. ... |
| Is it compulsory to add contribution toward new pension scheme in saving limit of 1 Lac. for income tax calcu |
its not compulsory ... |
| What is the status of Income Trust Funds? |
The status of those funds is that you can only put your income in them and they are liable for income tax if not a separate irrevocable legal entity. ... |
| Tax consideration on mutual fund withdrawal.? |
No you are not wasting your time because you can deduct the cost basis of your mutual fund investment for tax basis. you will be taxed on the amount above your cost basis. ... |
| How do you go about reporting a corporation for hiding income & using corporate funds for personal gain? |
Depending on the state you live in there are probably whistleblower statutes on the books. There are also federal whistleblower statutes. Best to consult a local lawyer. ... |
| Are there any grants or loans available in Illinois for a lower income family to purchase a business? |
Contact a local bank and ask them about the SBA 504 Program. You will need at least a 10% equity injection (down payment) If you have equity in your personal residence or in the property in Kentuck... |
| Are income in Mutual Funds taxed as Ordinary Income or Capital Gains? |
The answer is both.
Capital gains is only beneficial to you at a lower tax rate (15%) when it is a LONG term investment (held more than 1 year)
Some things in your M Fund will be long term. If ... |
| Would proceeds from selling my old stuff on ebay require reporting the funds as income? |
Not unless you made a profit on them, or depreciated them as business assets. The assumption is that you bought them with income you had already payed taxes on. ... |
| How much of my gross income can i invest in schemes that allow me to avoid income tax? |
non-taxable investments, for example non-taxable municipal bonds. Be careful of the AMT (alternative minimum tax), check out some non-taxable amt free mutual funds (google for some) ... |
| Because investment trust funds are intended to generate income on an ongoing basis to be used to support the p |
You are taking a significant risk when you post homework questions here, as you have no idea whether anyone who answers is academically gifted or not (i.e. a person can be very successful in world ... |
| How do mutual fund investments affect my taxes? |
I think you need to check with your tax preparer. Any advise offered here would not take into full account your overall tax record and therefore could not be 100% accurate.
Good luck! ... |
| What is mothly income scheme? |
It is better if you will not invest it in share market or anywhere else. You just deposit this money in post office or bank as Fixed Deposit and choose monthly income scheme. They will give you mon... |
| Any benefit to investing in mutual funds that distribute income and gains? |
It depends on what your goal is.
If you need the income that comes from those distributions, then its a great plan. A lot of retirees use this method to get a monthly income and leave their pri... |
| In order to get a mortgage need to increase my income? |
well you said your credit is not that bad. Why not try a licensed mortgage broker they can offer you more choices. You could probally do a no doc loan. This is based on you credit and the value of ... |
| Gift of money from NRI relatives(Not blood relative but a far relative) is it exempted from Income tax? |
It is taxable if you send a cheque other then NRE A/c cheque. To avoid Gift tax please issue your NRE A/c cheque. It is tax free and not taxable even if you give a gift to street dog (Used the wo... |
| Why not increase city & state income taxes & abolish property taxes? |
You'd generally have my support on that. Income taxes are the fairest of all taxes as they are based upon the taxpayer's ability to pay.
Property taxes are loosely coupled to abilit... |
| CD's? Mutual Funds? Savings Accounts? interest income help? |
How to invest $2M that falls from the sky into your lap depends entirely on the specific objectives and constrains of the individual, no single set of advice is good for everyone. From your questio... |
| I have income which is taxable but no taxes are taken out of it,what write offs can I use to off set these.? |
Since you're getting the money w/o tax withholding. You should also look into paying estimated taxes. Otherwise, if you owe taxes when filing tax return, you might get charged with interest ... |
| I sold $14,000 of mutual funds I got from my parents, does the IRS count all $14000 as income? |
Your best bet is to contact the investment firm holding the mutual fund. None of the proceeds will count as "income", as your question asks. However, if the net proceeds exceed total co... |
| Borrow money as income ? |
No. Money you receive from a loan is not income.
The only time a loan is counted as income is when a bank charges cancels a debt. In most instances, the canceled debt is treated as income. ... |
| How to buy tax saver mutual fund. Should i register through some online trading portal and buy it? |
Many mutual fund investments can be made through ICICI bank website. You need to register the same with the ICICI Bank. The details can be had from the web link.
... |
| Computer lab that is vital in our community (low income). Ran out of funding. Where can we receive funding? |
I have acquired many grants for computers while working with low income youths. The following companies have grant scholarships availabe, but do not limit yourself:
Barnes and Noble
Circuit Ci... |
| The gross income of Ginger Hughes is $215 per week. her deductions are: $15.16, FICA tax; $29.33, income tax;? |
FICA Tax is $15.16
Income Tax $29.33
1% City Tax is $2.15
2% State Tax is $4.30
3% Retirement Fund is $6.45
All the above have to be subtracted from the gross income of $215.00
Net Income... |
| Company funds for personal use, but charge it out to personal income..illegal? |
You should NEVER treat company funds as if they were an ATM. Even if you account for every penny it's sloppy.
In the event of an audit, when the IRS sees such a mess, they will go through ... |
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