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A retirement savings plan with special tax benefits that you may set up if your employer does not offer a retirement plan is called?
Wiki User
∙ 14y ago
A traditional IRA account. Go to the IRS gov web site and use the search box for Publication 590 Individual Retirement Arrangements
Wiki User
∙ 14y ago
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Is bank interest rate on savings tax deductible?
No. Interest payments, whether from banks or other sources are taxable unless some special provision applies. For example, interest paid on an Individual Retirement Account (IRA) and remaining in the IRA, and not taxable at all.
What is the name of the special savings account that requires the bank and the customer to agree on the savings amount and the time that it will be on deposit?
I believe you are thinking of a certificate of deposit.
Who is required to file a tax return?
First I would point out a common sense thing: Even if you don't HAVE TO file, (or actually especially if you don't have to), you really should. Many benefits are made available to only those that file...like this years economic stimulus payment, or earned income credits, other things lke refunds of tax you may not even realize was taken, and legal/tax security happens only by filing...so...consider if the IRS says you don't have to file - who do you think that is good for, you or them? Wanna bet...good for them bad for you! To determine if you need to file a Federal Income Tax return answer the following questions:Occasionally, individuals have one-time or infrequent financial transactions that may require them to file a Federal Income Tax return. Do any of the following examples apply to you? * Did you have Federal taxes withheld from your pension and wages for this tax year and wish to get a refund back? * Are you entitled to the Earned Income Tax Credit or did you receive Advance Earned Income Credit for this tax year? * Were you self-employed with earnings of more than $400.00? * Did you sell your home? * Will you owe any special tax on a qualified retirement plan (including an individual retirement account (IRA) or medical savings account (MSA)? You may owe tax if you:** Received an early distribution from a qualified plan ** Made excess contributions to your IRA or MSA ** Were born before July 1, 1936, and you did not take the minimum required distribution from your qualified retirement plan. ** Received a distribution in the excess of $160,000 from a qualified retirement plan. * Will you owe social security and Medicare tax on tips you did not report to your employer? * Will you owe uncollected social security and Medicare or Railroad retirement (RRTA) tax on tips you reported to your employer? * Will you be subject to Alternative Minimum Tax (AMT)? (The tax law gives special treatment to some kinds of income and allows special deductions and credit for some kinds of expenses.) * Will you owe recapture tax? * Are you a church employee with income in wages of $108.28 or more from a church or qualified church-controlled organization that is exempt from employer social security or Medicare taxes?
What benefits can one receive when using their Applied bank card?
Benefits of using an Applied bank card include special offers and discounts. One can find a list of the thousands of discounts and special offers available by visiting the Applied Advantage website.
What are the basic HSBC savings accounts features?
The HSBC savings account features include no hidden costs, ATM access, an international debit card, and an HSBC credit card. There are also special relationship discounts for home loans and personal loans.
What are the benefits of a 403b retirement plan?
There are not any special benefits of a 403B retirement plan when compared to the more familiar 401K retirement plan. The only difference is that if your work for the government or are in a civil service type job the retirement plan is called 403B.
What are some benefits of a 401K retirement plan?
Most employers offer 401k plans where they will match a certain percentage of what you put aside. It is free for you to invest in your retirement. Every employer is different on their policies. You have to become familiar with your company's policy. As all policies it can be borrowed from, but I do not recommended.
Is there a tax penalty to transfer all or some of funds from an ES OP to another fund within a 401K fund group?
No..not from the IRS...I guess there could be a special fee from the administrator. Its actually good to NOT have much of your retirement savings invested in the stock of your employer....all your eggs in one basket is the term.
Can people from Europe join the CIA?
Yes, they can join special ops, but not as full-time employees with benefits and retirement plans.
What are some advantages of fringe benefits?
The advantages of fringe benefits to the employer is that they can get away with paying you less and add in fringe benefits instead. The advantages to the employee is that they can add something special like a car, medical benefits, or vacation that make the job more desirable.
What are specialty items?
special savings
What are the advantages of JcPenny credit cards?
JcPenny credit cards have several benefits. They have a special reward program for their card holders that allows them to receive extra savings each month.
Can a divorcee collect ex husbands retirement payment after his death?
No, you are no longer related. (Unless there is some special contract entered into by all three...the decedent, the ex-wife and the employer. This would be very unlikely though.)
What are some fringe benefits for members of congress?
Unbelievably good health care and retirement plans, and special tax deductions,.
Can retirement income be garnished in Arizona?
Social Security income has some protections. (But as soon as it is deposited it becomes like any other asset). Qualified Retirement SAVINGS may have some protections (like your IRA account). (But as soon as you withdraw it, it becomes like any other asset). Retirement income, (which sounds like any income that someone who doesn't work wants to call it), wouldn't be anything special.
How does one handle special customer request?
First, it must be in compliance with the company's or employer's orders. If it is okay with the employer, handle any special requests to the best of your ability and in a professional matter.
What are the benefits of cannibalizing human brains?
It is illegal and has no special benefits
