In this slideshare we talk about the differences between the traditional 401k and the Roth 401k. We give examples of both of them and discuss when each makes sense.
2013 Global Relocation Conference: 2013 Withholding, Gross-up, Cost Containme...Orion Mobility
This document discusses common mistakes made in gross-up analysis for employee transfers and relocations. It provides examples of situations where using annualized salaries versus year-to-date earnings, itemized deductions versus standard deductions, and other factors could result in over- or under-grossing employees. It recommends breaking out homeowners from renters, using a third-party home sale program, and only grossing up for qualified relocation expenses to improve accuracy.
This document summarizes key estate planning numbers for 2015 and 2016, including the annual gift tax exclusion, estate and gift tax exclusion amount, generation-skipping transfer tax exemption, and the federal gift and estate tax rate schedules. The annual gift tax exclusion was $14,000 in both 2015 and 2016. The estate and gift tax exclusion was $5,430,000 in 2015 and $5,450,000 in 2016, plus any deceased spousal unused exclusion amount. The generation-skipping transfer tax exemption was $5,430,000 in 2015 and $5,450,000 in 2016.
1) The document outlines the Minnesota income tax calculations for tax year 2008 based on filing status.
2) It provides the taxable income brackets and applicable tax rates for married filing jointly, head of household, single, and married filing separately.
3) The tax is calculated by applying the rates to the midpoint of each taxable income bracket and rounding the final result to the nearest dollar.
The document outlines key aspects of the US individual income tax system. It discusses tax rates and taxable income calculations for individuals, including standard deductions, exemptions, and tax credits. It also covers taxation of capital gains and losses, as well as special tax provisions for homeowners, students, charitable donations, and more. Tax rates are provided for single, married, head of household, and other filing statuses.
This document summarizes the 2014 tax rates and limits in the United States. It outlines the marginal tax rates and tax brackets for single, married filing jointly, head of household, and married filing separately filers. It also summarizes standard deductions, personal exemptions, capital gains tax rates, retirement plan and IRA contribution limits, education credits, Social Security benefits, Medicare premiums, and more.
Recent Provisions for Taxation & Penalty on Unexplained Credit, Investment, C...Himanshu Goyal
This document outlines the tax provisions and penalties for undisclosed income and assets in India under different scenarios. It provides details on the tax rates, surcharges, and penalties applicable if income is declared under an amnesty scheme, found undeclared during an audit, or discovered in a search and seizure operation. Tax rates can range from 49.9% of undisclosed income under an amnesty to 137.25% if not admitted during a search and seizure. Prosecution proceedings and higher penalties are also possible if discovered in an investigation versus voluntary disclosure.
This financial statement summarizes the assets, net assets, revenues, and expenses of the South Central Region of Soroptimist International of the Americas from July 1, 2018 through January 31, 2020. As of January 31, 2020, the region had total assets of $96,325.79, including $95,971.79 in cash assets. Over the biennium, the region generated $34,470.45 in operating revenues and $39,385.15 in restricted fund revenues. Operating expenses totaled $22,182.78 and restricted fund expenses totaled $45,098.92, resulting in a net increase of $6,573.90 in net assets.
Tax Cuts and Jobs Act: Tax Reform UpdateSkoda Minotti
Understand the new tax rules resulting from the Tax Cuts and Jobs Act of 2017, and undertake a general review of the tax changes taking effect in 2018 that result from the Tax Cuts and Jobs Act of 2017.
2013 Global Relocation Conference: 2013 Withholding, Gross-up, Cost Containme...Orion Mobility
This document discusses common mistakes made in gross-up analysis for employee transfers and relocations. It provides examples of situations where using annualized salaries versus year-to-date earnings, itemized deductions versus standard deductions, and other factors could result in over- or under-grossing employees. It recommends breaking out homeowners from renters, using a third-party home sale program, and only grossing up for qualified relocation expenses to improve accuracy.
This document summarizes key estate planning numbers for 2015 and 2016, including the annual gift tax exclusion, estate and gift tax exclusion amount, generation-skipping transfer tax exemption, and the federal gift and estate tax rate schedules. The annual gift tax exclusion was $14,000 in both 2015 and 2016. The estate and gift tax exclusion was $5,430,000 in 2015 and $5,450,000 in 2016, plus any deceased spousal unused exclusion amount. The generation-skipping transfer tax exemption was $5,430,000 in 2015 and $5,450,000 in 2016.
1) The document outlines the Minnesota income tax calculations for tax year 2008 based on filing status.
2) It provides the taxable income brackets and applicable tax rates for married filing jointly, head of household, single, and married filing separately.
3) The tax is calculated by applying the rates to the midpoint of each taxable income bracket and rounding the final result to the nearest dollar.
The document outlines key aspects of the US individual income tax system. It discusses tax rates and taxable income calculations for individuals, including standard deductions, exemptions, and tax credits. It also covers taxation of capital gains and losses, as well as special tax provisions for homeowners, students, charitable donations, and more. Tax rates are provided for single, married, head of household, and other filing statuses.
This document summarizes the 2014 tax rates and limits in the United States. It outlines the marginal tax rates and tax brackets for single, married filing jointly, head of household, and married filing separately filers. It also summarizes standard deductions, personal exemptions, capital gains tax rates, retirement plan and IRA contribution limits, education credits, Social Security benefits, Medicare premiums, and more.
Recent Provisions for Taxation & Penalty on Unexplained Credit, Investment, C...Himanshu Goyal
This document outlines the tax provisions and penalties for undisclosed income and assets in India under different scenarios. It provides details on the tax rates, surcharges, and penalties applicable if income is declared under an amnesty scheme, found undeclared during an audit, or discovered in a search and seizure operation. Tax rates can range from 49.9% of undisclosed income under an amnesty to 137.25% if not admitted during a search and seizure. Prosecution proceedings and higher penalties are also possible if discovered in an investigation versus voluntary disclosure.
This financial statement summarizes the assets, net assets, revenues, and expenses of the South Central Region of Soroptimist International of the Americas from July 1, 2018 through January 31, 2020. As of January 31, 2020, the region had total assets of $96,325.79, including $95,971.79 in cash assets. Over the biennium, the region generated $34,470.45 in operating revenues and $39,385.15 in restricted fund revenues. Operating expenses totaled $22,182.78 and restricted fund expenses totaled $45,098.92, resulting in a net increase of $6,573.90 in net assets.
Tax Cuts and Jobs Act: Tax Reform UpdateSkoda Minotti
Understand the new tax rules resulting from the Tax Cuts and Jobs Act of 2017, and undertake a general review of the tax changes taking effect in 2018 that result from the Tax Cuts and Jobs Act of 2017.
This document provides information about income and payroll tax rates for 2017 including:
- Federal income tax rates for single filers, heads of household, trusts and estates, married filing jointly, and married filing separately.
- Social security and Medicare payroll tax rates for employees and self-employed individuals.
- Details on the alternative minimum tax, kiddie tax rules, and taxation of social security benefits.
- Standard deduction amounts and details on allowable and non-allowable itemized deductions such as mortgage interest, state and local taxes, medical expenses, and more.
This document provides a 1-year performance projection for a single-family home in Dolton, IL. Key details include a purchase price of $110,000 with $27,500 downpayment and $82,500 mortgage. The projection estimates $8,493 in gross equity income for the year from $3,920 in cash flow, $1,273 in principal reduction, and $3,300 in appreciation. The home has 1,285 square feet and is expected to generate $16,800 in annual rent.
The Impact of the Tax Cuts & Jobs Act on High Tax Bracket Individuals - Show ...gppcpa
Objective: To quantify the effects of the Tax Cuts & Jobs Act for taxpayers in the highest individual tax bracket; to quantify the effects of the increase in the lifetime estate and gift tax exemption for taxpayers at all levels of wealth; and to identify the challenges and opportunities available for taxpayers as a result of these changes.
This document provides an overview of various tax planning topics for individuals and businesses for 2014-2015. It discusses strategies related to income timing, deductions, credits, retirement plans, capital gains, and estate planning. Key points include maximizing deductions and deferring income, retirement contribution limits and strategies, long term capital gain rates, and estate and gift tax exemption amounts. Contact information is provided for three CPAs who can assist with personalized tax planning.
This document is a supplier liquor excise tax return form for the Nevada Department of Taxation. It requires suppliers to report the number of wine gallons of different types of alcoholic beverages (beer, wine, liquor) shipped to Nevada residents in a given month, along with the tax rates and amounts due. Suppliers must submit the completed form and copies of invoices by the 20th of the month to report taxes owed, and may qualify for a discount if submitted by the 15th. Late or missing returns are subject to penalties and interest.
This document is a supplier liquor excise tax return form for the Nevada Department of Taxation. It requires the supplier to report the number of wine gallons of different types of alcoholic beverages (beer, wine, liquor) sold to Nevada consumers each month, along with the tax rates and amounts due. The supplier must certify the accuracy of the return and attach copies of invoices before submitting it along with payment by the due date, after which penalties and interest will apply.
Your Taxes: Top 10 Things to Know & Tax Filing Tips and TrapsModernAdvisor
Faizal Valli is an independent tax advisor with 13 years experience in tax planning. He has previously worked with small accounting firms as well as an international tax firm and a boutique practice in taxes over a wide variety of experience.
In this presentation, we discuss the top 10 changes introduced in the federal budget which was presented on Tuesday, March 22nd. We review what you need to know about these tax changes that will affect you in 2016 and going forward. Next we’ll switch gears and talk about some tax tips and traps to be aware of for the 2015 filing season as well as generally.
1) Property taxes are calculated based on appraised home values and tax rates set by various taxing entities like counties, cities, and school districts.
2) When home values rise due to increases in the housing market, it causes tax levies to rise even if tax rates remain the same, as higher home values result in more taxes collected.
3) For example, a projected $9.2 billion increase in Collin County home values for 2016 would result in almost $200 million in additional taxes collected even without any changes to tax rates by the county, city, and school district.
Reducing Taxes through Prudent Investment and Wealth ManagementJ.C. Corrigan
This document discusses strategies for managing taxes on investments. It outlines how to control deductible expenses and rebalancing to reduce taxes, and provides examples. It also discusses converting tax-deferred accounts to tax-exempt Roth IRAs when markets are down, to offset taxes, or using tax credits to do conversions with no tax liability. The key is controlling what you can with taxes through expenses, rebalancing efficiently, and tactically converting accounts when it makes financial sense.
This document summarizes recent and upcoming changes to U.S. tax laws, including estate taxes, income taxes, and reporting of foreign financial assets. The estate tax exemption will be $5 million per person until 2012 and then decrease to $1 million in 2013. Income tax rates will be lowered until 2013. Starting in 2013, there will be a new 3.8% tax on unearned income for high-income taxpayers. The document also outlines requirements for reporting foreign bank accounts and assets.
This webinar will provide you with all of the information you need to know in order to understand and implement the changes made by the Tax Cut and Jobs Act, signed into law in December of 2017. McKonly & Asbury presenters, Mark Heath – Partner, and Charlie Eisenhart – Manager, will be covering corporate tax reform including rate changes, new depreciation rules, and limitations on deductions; flow-through tax reform with a special focus on the new 199A deduction; as well as the changes affecting individuals, including new rate brackets and limits on itemized deductions.
On Wednesday 16 March the Chancellor of the Exchequer, George Osborne, will deliver his second coalition-free budget speech setting out the Government's plans for the economy based on the latest forecasts from the Office for Budget Responsibility as well as any proposals for changes to taxation.
There is little doubt that the Chancellor will continue on his path of austerity, particularly in driving down Government overheads and closing tax avoidance loopholes to fulfil his aim of eliminating the deficit by the end of the decade, but there are challenges ahead. The extended honeymoon of close to zero inflation will end during 2016 and as the rate of inflation rises, the Bank of England Monetary Policy Committee is likely to follow suit by raising interest rates and businesses will need to factor this in when planning ahead.
Our tax partners and consultants will be analysing the measures taken in the Budget and we will be presenting our analysis and commentaries.
The document provides information about Okaloosa County, Florida's annual tax certificate sale, including details about the tax certificates being sold, the bidding process, payment procedures, redemption and transfer options, and strategies for purchasing certificates. Tax certificates offer investors a first lien position on real estate taxes and can earn high interest rates of up to 18% if unredeemed, but come with risks such as the potential for bankruptcy or properties going to tax deed sale. The sale allows investors to bid on over 7,000 tax certificates issued annually on properties with delinquent property taxes.
The document outlines the payroll computation format for Ms. Pastillas for the period of August 2015. It details her basic pay of 12,000 pesos and deductions for SSS, Pag-IBIG, and Philhealth contributions totaling 713 pesos. Her taxable income is calculated to be 11,287 pesos. After applying the withholding tax table, her withholding tax is calculated to be 965.73 pesos. Her net pay for the period is 10,321.27 pesos.
This document discusses taxation issues relevant to real estate professionals. It covers topics like the sale of a principal residence, federal tax liens on real estate, cancellation of debt, employing family members, home offices, automobiles, and accounting systems. It also provides advice on dealing with unfiled tax returns, audits, and paying back taxes owed. The overall message is that taxes can significantly impact profits for real estate agents and addressing tax issues promptly is key to avoiding penalties and problems with the IRS.
Tax Accounting for Start-Ups-Chunyee_Miot_CPAMiot, Chunyee
This document provides information about business taxes and accounting for various business entities including sole proprietorships, S corporations, C corporations, LLCs and LLPs. It discusses filing requirements, who pays taxes, and issues like double taxation. It also covers topics like payroll taxes, estimated taxes, deductions, financial statements, breakeven analysis, cash flow management and questions to ask an accountant.
This document contains several accounting questions regarding financial statements, ratios, and common-size percentages. It asks the reader to calculate stockholders' equity to debt ratios, accounts receivable turnover, acid-test ratios, interest coverage, and operating expenses and net income as common-size percentages based on financial data provided for each question. It also addresses how certain transactions would be reported on financial statements.
Presentation slides from webinar presented by Aaron Dunn of The SMSF Academy on 5 September 2013 on the latest issues impacting contributions including excess concessional contribution reforms, additional contributions tax for high income earners and more.
This document summarizes key U.S. tax rates and limits for 2017 including:
- Federal income tax rates for single, married joint, head of household, and married separate filers at various income levels.
- Standard deduction and personal exemption amounts that phase out at certain income levels.
- Contribution and income limits for retirement accounts like 401ks, IRAs, and HSAs.
- Medicare premium amounts and deductibles that vary based on income.
- Social security tax rates and limits on benefits subject to income tax.
The document provides information on personal and corporate income tax rates in Canada and British Columbia for 2010, including:
- Federal personal income tax rates range from 15% to 29% depending on taxable income levels.
- Provincial/territorial personal income tax rates vary by jurisdiction but generally have two rates, a lower rate for small business income and a higher general rate.
- Corporate income tax rates for Canadian-controlled private corporations are 11-12% at the federal level and vary by province/territory, typically with a lower small business rate and higher general rate.
- British Columbia has a 2.5% lower corporate tax rate and 10.5% higher rate for 2010.
This document provides information about income and payroll tax rates for 2017 including:
- Federal income tax rates for single filers, heads of household, trusts and estates, married filing jointly, and married filing separately.
- Social security and Medicare payroll tax rates for employees and self-employed individuals.
- Details on the alternative minimum tax, kiddie tax rules, and taxation of social security benefits.
- Standard deduction amounts and details on allowable and non-allowable itemized deductions such as mortgage interest, state and local taxes, medical expenses, and more.
This document provides a 1-year performance projection for a single-family home in Dolton, IL. Key details include a purchase price of $110,000 with $27,500 downpayment and $82,500 mortgage. The projection estimates $8,493 in gross equity income for the year from $3,920 in cash flow, $1,273 in principal reduction, and $3,300 in appreciation. The home has 1,285 square feet and is expected to generate $16,800 in annual rent.
The Impact of the Tax Cuts & Jobs Act on High Tax Bracket Individuals - Show ...gppcpa
Objective: To quantify the effects of the Tax Cuts & Jobs Act for taxpayers in the highest individual tax bracket; to quantify the effects of the increase in the lifetime estate and gift tax exemption for taxpayers at all levels of wealth; and to identify the challenges and opportunities available for taxpayers as a result of these changes.
This document provides an overview of various tax planning topics for individuals and businesses for 2014-2015. It discusses strategies related to income timing, deductions, credits, retirement plans, capital gains, and estate planning. Key points include maximizing deductions and deferring income, retirement contribution limits and strategies, long term capital gain rates, and estate and gift tax exemption amounts. Contact information is provided for three CPAs who can assist with personalized tax planning.
This document is a supplier liquor excise tax return form for the Nevada Department of Taxation. It requires suppliers to report the number of wine gallons of different types of alcoholic beverages (beer, wine, liquor) shipped to Nevada residents in a given month, along with the tax rates and amounts due. Suppliers must submit the completed form and copies of invoices by the 20th of the month to report taxes owed, and may qualify for a discount if submitted by the 15th. Late or missing returns are subject to penalties and interest.
This document is a supplier liquor excise tax return form for the Nevada Department of Taxation. It requires the supplier to report the number of wine gallons of different types of alcoholic beverages (beer, wine, liquor) sold to Nevada consumers each month, along with the tax rates and amounts due. The supplier must certify the accuracy of the return and attach copies of invoices before submitting it along with payment by the due date, after which penalties and interest will apply.
Your Taxes: Top 10 Things to Know & Tax Filing Tips and TrapsModernAdvisor
Faizal Valli is an independent tax advisor with 13 years experience in tax planning. He has previously worked with small accounting firms as well as an international tax firm and a boutique practice in taxes over a wide variety of experience.
In this presentation, we discuss the top 10 changes introduced in the federal budget which was presented on Tuesday, March 22nd. We review what you need to know about these tax changes that will affect you in 2016 and going forward. Next we’ll switch gears and talk about some tax tips and traps to be aware of for the 2015 filing season as well as generally.
1) Property taxes are calculated based on appraised home values and tax rates set by various taxing entities like counties, cities, and school districts.
2) When home values rise due to increases in the housing market, it causes tax levies to rise even if tax rates remain the same, as higher home values result in more taxes collected.
3) For example, a projected $9.2 billion increase in Collin County home values for 2016 would result in almost $200 million in additional taxes collected even without any changes to tax rates by the county, city, and school district.
Reducing Taxes through Prudent Investment and Wealth ManagementJ.C. Corrigan
This document discusses strategies for managing taxes on investments. It outlines how to control deductible expenses and rebalancing to reduce taxes, and provides examples. It also discusses converting tax-deferred accounts to tax-exempt Roth IRAs when markets are down, to offset taxes, or using tax credits to do conversions with no tax liability. The key is controlling what you can with taxes through expenses, rebalancing efficiently, and tactically converting accounts when it makes financial sense.
This document summarizes recent and upcoming changes to U.S. tax laws, including estate taxes, income taxes, and reporting of foreign financial assets. The estate tax exemption will be $5 million per person until 2012 and then decrease to $1 million in 2013. Income tax rates will be lowered until 2013. Starting in 2013, there will be a new 3.8% tax on unearned income for high-income taxpayers. The document also outlines requirements for reporting foreign bank accounts and assets.
This webinar will provide you with all of the information you need to know in order to understand and implement the changes made by the Tax Cut and Jobs Act, signed into law in December of 2017. McKonly & Asbury presenters, Mark Heath – Partner, and Charlie Eisenhart – Manager, will be covering corporate tax reform including rate changes, new depreciation rules, and limitations on deductions; flow-through tax reform with a special focus on the new 199A deduction; as well as the changes affecting individuals, including new rate brackets and limits on itemized deductions.
On Wednesday 16 March the Chancellor of the Exchequer, George Osborne, will deliver his second coalition-free budget speech setting out the Government's plans for the economy based on the latest forecasts from the Office for Budget Responsibility as well as any proposals for changes to taxation.
There is little doubt that the Chancellor will continue on his path of austerity, particularly in driving down Government overheads and closing tax avoidance loopholes to fulfil his aim of eliminating the deficit by the end of the decade, but there are challenges ahead. The extended honeymoon of close to zero inflation will end during 2016 and as the rate of inflation rises, the Bank of England Monetary Policy Committee is likely to follow suit by raising interest rates and businesses will need to factor this in when planning ahead.
Our tax partners and consultants will be analysing the measures taken in the Budget and we will be presenting our analysis and commentaries.
The document provides information about Okaloosa County, Florida's annual tax certificate sale, including details about the tax certificates being sold, the bidding process, payment procedures, redemption and transfer options, and strategies for purchasing certificates. Tax certificates offer investors a first lien position on real estate taxes and can earn high interest rates of up to 18% if unredeemed, but come with risks such as the potential for bankruptcy or properties going to tax deed sale. The sale allows investors to bid on over 7,000 tax certificates issued annually on properties with delinquent property taxes.
The document outlines the payroll computation format for Ms. Pastillas for the period of August 2015. It details her basic pay of 12,000 pesos and deductions for SSS, Pag-IBIG, and Philhealth contributions totaling 713 pesos. Her taxable income is calculated to be 11,287 pesos. After applying the withholding tax table, her withholding tax is calculated to be 965.73 pesos. Her net pay for the period is 10,321.27 pesos.
This document discusses taxation issues relevant to real estate professionals. It covers topics like the sale of a principal residence, federal tax liens on real estate, cancellation of debt, employing family members, home offices, automobiles, and accounting systems. It also provides advice on dealing with unfiled tax returns, audits, and paying back taxes owed. The overall message is that taxes can significantly impact profits for real estate agents and addressing tax issues promptly is key to avoiding penalties and problems with the IRS.
Tax Accounting for Start-Ups-Chunyee_Miot_CPAMiot, Chunyee
This document provides information about business taxes and accounting for various business entities including sole proprietorships, S corporations, C corporations, LLCs and LLPs. It discusses filing requirements, who pays taxes, and issues like double taxation. It also covers topics like payroll taxes, estimated taxes, deductions, financial statements, breakeven analysis, cash flow management and questions to ask an accountant.
This document contains several accounting questions regarding financial statements, ratios, and common-size percentages. It asks the reader to calculate stockholders' equity to debt ratios, accounts receivable turnover, acid-test ratios, interest coverage, and operating expenses and net income as common-size percentages based on financial data provided for each question. It also addresses how certain transactions would be reported on financial statements.
Presentation slides from webinar presented by Aaron Dunn of The SMSF Academy on 5 September 2013 on the latest issues impacting contributions including excess concessional contribution reforms, additional contributions tax for high income earners and more.
This document summarizes key U.S. tax rates and limits for 2017 including:
- Federal income tax rates for single, married joint, head of household, and married separate filers at various income levels.
- Standard deduction and personal exemption amounts that phase out at certain income levels.
- Contribution and income limits for retirement accounts like 401ks, IRAs, and HSAs.
- Medicare premium amounts and deductibles that vary based on income.
- Social security tax rates and limits on benefits subject to income tax.
The document provides information on personal and corporate income tax rates in Canada and British Columbia for 2010, including:
- Federal personal income tax rates range from 15% to 29% depending on taxable income levels.
- Provincial/territorial personal income tax rates vary by jurisdiction but generally have two rates, a lower rate for small business income and a higher general rate.
- Corporate income tax rates for Canadian-controlled private corporations are 11-12% at the federal level and vary by province/territory, typically with a lower small business rate and higher general rate.
- British Columbia has a 2.5% lower corporate tax rate and 10.5% higher rate for 2010.
10 Most Expensive Tax Mistakes That Cost Business Owners ThousandsJASWANTSGILLCPA
1. Failing to properly plan taxes can result in paying thousands more than necessary each year. Proper tax planning allows business owners to legally reduce their tax burden.
2. Choosing the wrong business entity, retirement plan, or failing to claim available deductions like a home office or vehicle expenses can cost business owners thousands each year.
3. Sole proprietorships, S-corporations, partnerships, and C-corporations each have their own tax implications that business owners should understand to minimize their taxes. Choosing the right structure is important.
1) Failing to properly plan taxes can result in paying thousands more than necessary. Proper tax planning allows business owners to legally reduce their tax burden.
2) Choosing the wrong business entity, retirement plan, or failing to claim available medical and home office deductions are common expensive mistakes.
3) Maximizing deductions for family employment, vehicle expenses, and medical benefits can significantly reduce taxes.
The document summarizes upcoming changes to the taxation of dividend income in the UK, which will abolish the dividend tax credit and introduce a £5,000 tax-free dividend allowance. It provides examples of how various individual taxpayers and business owners would be impacted. For individuals receiving dividends over £5,000, they will pay an effective 7.5% tax on dividends instead of the previous 0% for basic rate taxpayers. Business owners taking a combination of salary and dividends will be slightly worse off. The changes may also increase taxes for discretionary trusts that receive dividends.
We want to help you manage your tax activities and simplify complex tax laws. We hope you’ll find that our 2014 Quick Tax Facts guide helps you do just that. This handy guide compiles frequently changing tax information applicable to most businesses and households.
The document compares three different tax structures - regressive, flat, and progressive taxes - across three hypothetical families with different incomes. A regressive tax takes the same percentage of income regardless of income level, whereas a progressive tax takes a higher percentage from those with higher incomes. A flat tax takes the same tax rate from all taxpayers. The document also explains how tax credits reduce the amount owed directly, while tax deductions reduce taxable income before calculating taxes owed.
This document provides information about retirement planning and outlines sources of retirement income. It discusses saving for retirement through a 401(k) plan and how pre-tax versus Roth contributions affect taxes. It shows how starting retirement savings early and the power of compound interest can help accumulate $100,000 over time. Graphs illustrate how savings and earnings grow an account balance. The document concludes by highlighting plan details such as type, trustee, vesting schedule, investments, and statement timing.
As an alumni to the courses taught by Professor Alan Cerf at UC Berkeley, Brian Rowbotham and Cindy Hsieh returns to campus each semester to be a guest lecturer for the new classes.
The document discusses the top 10 most expensive tax mistakes that business owners can make, including failing to do tax planning, misunderstanding audit odds, paying too much self-employment tax, choosing the wrong retirement plan, missing opportunities for family employment and medical benefits, not claiming a home office deduction, missing car and truck expense deductions, not deducting meals and entertainment expenses, and not using tax coaching services. It provides details on how to avoid these costly mistakes.
New York Life - pocket tax tables guide 2015-16Cristi Tenhagen
The document provides information about income tax rates, payroll tax rates, and other tax rules for 2015 and 2016. Specifically, it includes:
- Income tax rates for single filers, heads of household, trusts and estates, married filing jointly, and married filing separately based on taxable income thresholds.
- Payroll tax rates for Social Security and Medicare.
- Details about alternative minimum tax, kiddie tax, corporate tax rates, taxation of Social Security benefits, personal exemptions, standard deductions, and itemized deductions.
This presentation will be two hours in duration and will offer two CPE credits. The presentation will focus on tax law updates for both businesses and individuals that are expected to be passed. The discussion during the webinar will feature information on both sides, as they are often interdependent.
The webinar will also touch on the tax policies of some of the 2016 presidential candidates and how these policies will impact you and your organization.
This document summarizes Canada's tax system and provides strategies for tax planning. It discusses key concepts like marginal tax rates, deductions, credits, and preparing a tax return. It also outlines tax-deferred plans, tax-friendly investments, and eligible deductions. Recent tax changes and how an advisor can help with tax planning are briefly mentioned.
Income Statement of Baker and Co.Services Provided$98000Intere.pdfsudhinjv
Income Statement of Baker and Co.
Services Provided
$98000
Interest($13000*6%*4/12)
$260
Total Income
$98260
Salary Expenses
$34000
Uncollectible Account Expense
$980
Net Income
$63280
Dividend
$2000
Transferred to retained earnings
$61280
Balance Sheet of Baker & Co
Liabilities
Assets
Owners equity
$190000
Accounts Receivables
$13020
Retained Earnings
$61280
Investment(with Interest Accrued)
$13260
Cash
$225000
Total
$251280
Total
$251280
Cash A/c
Owners Equity
$190000
Investment
$13000
Accounts Receivables
$84000
Salary
$34000
Dividend
$2000
Balance
$225000
$274000
$274000
Cash Flow Statement
Cash from Operating Activities
Cash generated from operations
$63280
Less Dividend
$2000
Less Interest income
$260
Less Increase in Accounts Receivables
13020
$48000
Cash From Investing Activities
($13000)
Investments
($13000)
Cash From Financing Activities
Proceeds from Shares Issued
$190000
$190000
Cash and Cash equivalents at the beginning of the year
0
Cash and Cash equivalents at the Ending of the year
$225000
Statement of Changes of Share holders Equity
Share Holders Equity
$190000
Add Retained Earnings
$61280
Share Holders Equity as on 31-12-2010
$251280
Income Statement of Baker and Co.
Services Provided
$98000
Interest($13000*6%*4/12)
$260
Total Income
$98260
Salary Expenses
$34000
Uncollectible Account Expense
$980
Net Income
$63280
Dividend
$2000
Transferred to retained earnings
$61280
Solution
Income Statement of Baker and Co.
Services Provided
$98000
Interest($13000*6%*4/12)
$260
Total Income
$98260
Salary Expenses
$34000
Uncollectible Account Expense
$980
Net Income
$63280
Dividend
$2000
Transferred to retained earnings
$61280
Balance Sheet of Baker & Co
Liabilities
Assets
Owners equity
$190000
Accounts Receivables
$13020
Retained Earnings
$61280
Investment(with Interest Accrued)
$13260
Cash
$225000
Total
$251280
Total
$251280
Cash A/c
Owners Equity
$190000
Investment
$13000
Accounts Receivables
$84000
Salary
$34000
Dividend
$2000
Balance
$225000
$274000
$274000
Cash Flow Statement
Cash from Operating Activities
Cash generated from operations
$63280
Less Dividend
$2000
Less Interest income
$260
Less Increase in Accounts Receivables
13020
$48000
Cash From Investing Activities
($13000)
Investments
($13000)
Cash From Financing Activities
Proceeds from Shares Issued
$190000
$190000
Cash and Cash equivalents at the beginning of the year
0
Cash and Cash equivalents at the Ending of the year
$225000
Statement of Changes of Share holders Equity
Share Holders Equity
$190000
Add Retained Earnings
$61280
Share Holders Equity as on 31-12-2010
$251280
Income Statement of Baker and Co.
Services Provided
$98000
Interest($13000*6%*4/12)
$260
Total Income
$98260
Salary Expenses
$34000
Uncollectible Account Expense
$980
Net Income
$63280
Dividend
$2000
Transferred to retained earnings
$61280.
The document discusses year-end tax planning strategies and provides an overview of key income tax topics such as tax rates, deductions, credits, and the tax filing process. It aims to increase knowledge of tax planning strategies and provides information on 10 year-end tax planning strategies as well as tax resources. The document also reviews income tax rates and brackets, the differences between average and marginal tax rates, deductions, credits, and how to determine tax liability when completing a federal tax return.
The document provides information on income tax rates in Canada from 2004 to 2009, including:
- Federal tax rates for each year ranging from 15% to 29% applied to thresholds of taxable income
- Charts showing the calculation of federal tax for each tax bracket
- Provincial/territorial tax rates for each jurisdiction, year, and applicable tax brackets
It was published by Dayarayan Management & Consulting and contains tax information from the Canada Revenue Agency to help individuals complete their annual tax returns.
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
Digital Marketing with a Focus on Sustainabilitysssourabhsharma
Digital Marketing best practices including influencer marketing, content creators, and omnichannel marketing for Sustainable Brands at the Sustainable Cosmetics Summit 2024 in New York
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
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In the competitive world of content creation, standing out and maximising revenue on platforms like OnlyFans can be challenging. This is where partnering with an OnlyFans agency can make a significant difference. Here are five key benefits for content creators considering this option:
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Neil Horowitz
On episode 272 of the Digital and Social Media Sports Podcast, Neil chatted with Brian Fitzsimmons, Director of Licensing and Business Development for Barstool Sports.
What follows is a collection of snippets from the podcast. To hear the full interview and more, check out the podcast on all podcast platforms and at www.dsmsports.net
Cover Story - China's Investment Leader - Dr. Alyce SUmsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....Lacey Max
“After being the most listed dog breed in the United States for 31
years in a row, the Labrador Retriever has dropped to second place
in the American Kennel Club's annual survey of the country's most
popular canines. The French Bulldog is the new top dog in the
United States as of 2022. The stylish puppy has ascended the
rankings in rapid time despite having health concerns and limited
color choices.”
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
5. Assumptions:
Income: $60,000
Pre-retire tax rate: 25%
Post-retire tax rate: 20%
Contribution: 10%*
Roth
Traditional
Income:
Taxes:
Net Pay:
CONTRIBUTION:
$60,000
$15,000 ($60,000 * 25%)
$45,000
$4,500 ($45,000 * 10%)
Income:
CONTRIBUTION:
Taxable Income:
Taxes:
Net Pay:
$60,000
$6,000 ($60,000 * 10%)
$54,000
$13,500 ($54,000 * 25%)
$40,500
Working
Years
Taxes are LESS in the
traditional because
they are calculated on
the amount minus the
contribution
6. Assumptions:
Growth Rate: 6%
Years till Retirement: 30
Growth of Monies
(in 30 years)
Roth Traditional
Contributed:
$4,500
Contributed:
$6,000
Grew to: $27,846
Grew to: $34,461
8. Assumptions:
Income: $60,000
Pre-retire tax rate: 25%
Post-retire tax rate: 20%
Contribution: 10%*
Roth
Growth of Monies
Taxes
Net Withdrawal
Traditional
$25,846 $34,461
$6,892
$27,569
$0
$25,846
9. So, it looks like the
traditional was
better there. Right?
Yeah. But the tax rates
were higher for the
pre-retire stage. Let's
switch that up to see if
anything changes.
10. Roth vs. Traditional 401k
Example 2
Assumptions
Income:
Pre-retire tax rate:
Post-retire tax rate:
Contribution:
$60,000
20%
25%
10% (of pre-tax income for
traditional&ofpost-taxincomefor
Roth
Pre-retire tax rate is
now lower than the
post-retire tax rate
12. Assumptions:
Income: $60,000
Pre-retire tax rate: 20%
Post-retire tax rate: 25%
Contribution: 10%*
Roth
Traditional
Income:
Taxes:
Net Pay:
CONTRIBUTION:
$60,000
$12,000 ($60,000 * 20%)
$48,000
$4,800 ($45,000 * 10%)
Income:
CONTRIBUTION:
Taxable Income:
Taxes:
Net Pay:
$60,000
$6,000 ($60,000 * 10%)
$54,000
$10,800 ($54,000 * 20%)
$43,200
Working
Years
Contribution is
GREATER due to taxes
being LESS in this
example
13. Assumptions:
Growth Rate: 6%
Years till Retirement: 30
Growth of Monies
(in 30 years)
Roth Traditional
Contributed:
$4,800
Contributed:
$6,000
Grew to: $27,569
Grew to: $34,461
15. Assumptions:
Income: $60,000
Pre-retire tax rate: 20%
Post-retire tax rate: 25%
Contribution: 10%*
Roth
Growth of Monies
Taxes
Net Withdrawal
Traditional
$27,569 $34,461
$8,615
$25,846
$0
$27,569
16. Now the Roth has a
higher amount...
What's the takeaway?
17. The WHY
Ordinary tax rate today
Ordinary tax rate when you
withdraw funds
If tax rates are
expected to be
higher when funds
are withdrawn then
tax rates are for
you today... the
traditional 401k
would be a better
option
18. The WHY
Ordinary tax rate today
Ordinary tax rate when you
withdraw funds
If tax rates are
expected to be higher
today compared to
tax rates when you
plan to withdraw
funds... the Roth 401k
would be a better
option