Business

Recent Answers

2009-11-19 Tax Law (Questions About Taxes) - Tax Liability:

depends upon how you (and they) set it (your loan, investment and subsequently the business itself). key is how you will recognize (if you realize at some point in the future) gains/income - annual

2009-11-19 Tax Law (Questions About Taxes) - Federal Tax on Federal CSRS pension living abroad:

Ray, Thanks for your question. As a U. S. citizen you are subject to tax on your worldwide income, regardless of residence. I cannot provide citations in this forum as it would be too time consuming

2009-11-19 Tax Law (Questions About Taxes) - 401K withdrawals:

Hi Denise, 401K withdrawals are considered ordinary income subject to federal income tax not subject to the 10 percent penalty if the distributions are taken once you reach 59 1/2. They are not subject

2009-11-19 Personal Investment & Financial Planning - Former Employer Pension:

Hi. It depends on what type of plan it is. If it is a 401k/Profit Sharing, then yes, you can cash it out. If it is a defined benefit pension, or other type of pension, then maybe not as some of these types

2009-11-19 Tax Law (Questions About Taxes) - Perdiem tax:

Mark, Thanks for your question. If the assignment is for an indefinite period, or is expected to last more than a year, any per diem amount received is taxable from day one. In addition, no travel