Until last year, the IRS took the position that employer-issued cell phones were a taxable benefit.
The source of the new complexity is the proposal to treat payments made by employers into pension schemes as a taxable benefit to the employee.
Over the years they have increased the retirement age slowly from 65 to 67, raised payroll taxes, delayed a cost of living increase and made as much as 85% of the once tax-exempt benefit checks taxable.
While taxable accounts enjoy the benefit of a lower tax rate on capital gains, the annual tax pressure may severely handicap this category, compared to the others, when it comes to investments earmarked for future retirement income.
If you're already collecting benefits and have investment income that you don't need and that pushes your benefit into taxable territory consider "converting your countable income into non-countable income, " says Andy Landis, founder of Thinking Retirement, a retirement-education website.
However, this benefit will be fully taxable to taxpayers with high AGI and nominal medical expenses.
Exclusion of Employer Provided Health Insurance: Such benefit could be made taxable for income tax purposes only (not subject to employment taxes).
Taxable part of private unemployment fund benefit payments.
FORBES: Taxes From A To Z (2013): M Is For Miscellaneous Income
Those that do may argue that there is a benefit to owning more funds in that there is the possibility to capture taxable losses.
Stocks and index funds, which benefit from much lower long-term capital gain rates, can go in your taxable accounts.
Summed up, for a divorcing spouse with little or no taxable income for the tax year, signing a joint tax return may pose considerable liability risk with no appreciable benefit.
FORBES: Nebraska Supreme Court Rules - State Court Cannot Order Joint Federal Return
应用推荐