Tax rate

receiving spouse can roll the money into a traditional or Roth IRA, the transaction will be taxed as a conversion but not penalized, or their own qualified plan. If a transfer from a qualified plan is not recognized as a QDRO by the IRS it is subject to tax and penalty. Make sure you add and update your beneficiaries in case your ex-spouse was one. Not only should you change your retirement plan, but all your financial assets, including annuities and life insurance. If you are getting remarried,…

Reaganomics or the "trickle-down" policy. Side-supply has three parts: tax policy, regulatory policy and monetary policy. Tax cuts for investors and entrepreneurs gives a greater outcome of benefits for the entire economy. Supply-side economics suggests that the most important thing in economic growth is the production of good and supplies. The more the producers makes of the product and supplies it the more the economy is grow. Tax policy is a choice the goverment makes as to what taxes to…

The debate about whether to impose a tax on sugary drinks or not raises some interesting questions. Some individuals argue that government should tax sugary drinks because the number of health risks associated with them are on the rise. Opponents argue that consumers should have the right to drink what they want. By introducing an additional tax on sugary drinks proponents are hoping to decrease the consumption of these beverages, and thus promote a healthier lifestyle. While taxing sugary…

resource allocations, within the private sector, while political forces dictate when bureaucrats and politicians decide amount to spend. Certain government spending, for example sustaining a proper-function legal system could have a greater return rate. However, in general the governments do not efficiently utilize resource which results into minimal economic output. Government spending twists allocation of resources. Sellers and buyers in a competitive market decides prices in a process, which…

government wants to encourage people to take loans and start businesses they will decrease the interest rates. Monetary policy has a big impact on all businesses including curry’s. When the government lowers interest rates it will encourage curry’s to take loans and expand their business. It will also embolden individuals to take loans and buy products from curry’s. If the government increases interest rates it will discourage people taking loans so people will have less money to spend.…

problems, especially for people in developing countries. To begin, I think the governments are worried about mortality rates in their…

increasingly apparent that our nation's poverty rate is determined in large part by how a nation's governing authorities distribute economic and other resources amongst the population, i.e. public policy. This essay will examine how poverty and public policy themselves are the primary determinants of our nations poverty rates. By increasing the lack of education and employment skills offered to our communities, is it enough to make a dent in the poverty rate? Those living in poverty generally…

States tax system needs help; some people think this problem can be solved. It will be quite a task because of the extensive 72,000 pages of IRS and U.S. tax codes. Almost everyone in America can agree that our tax system isn’t perfect, or even close. There have been numerous proposals, but which one is best? David Marron has an interesting idea, on how to try and fix it, called the “X tax”. It does have one major change to our system, it wipes away all of the old laws and regulations. The X…

Thank you for approaching Visionary Tax Planners Limited for advice to set up a self-guided walking and hiking tour business called Kauri Hikes together with bed and breakfast accommodation (Kauri BnB) for their short stay guests. However, it is really important to remember that undertaking this suggestion does not preclude you from going down to a particular path, rather it will only assist you to make informed decisions about if the option is likely to go furthest towards satisfying your…

The turners reside in a state that requires them to pay a state income tax. Currently their federal income tax rate is 25% and their state income tax rate is 6%. Historically Alan has prepared the couples taxes and claimed the standard deduction (12,600). Elyse would like to know if it is more beneficial to continue to do this or do an itemized deduction. Recommendation: My recommendation would be to do itemized deductions vs. the standard deduction. In reviewing your cash flow statement…