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- Gross income includes wages, dividends, capital gains, business and retirement income as wellas all other forms income.
- Examples of income include tips, rents, interest, stock dividends, etc.
- Adjustments to income are deductions that reduce total income to arrive at AGI.
- Examples of adjustments include half of the self-employment taxes you pay; self-employed health insurance premiums; contributions to certain retirement accounts (such as a traditional IRA); student loan interest paid; educator expenses, etc.
WTF?Retirement income is taxable because it's income. Weird.
You pay a 10% tax because of early withdrawal
Yes, they call that an early withdrawal tax, not an income tax.
There is also a tax if you put too much into a retirement account and a tax if you don't
withdraw enough from a retirement account.
Are you learning yet?
WTF?
Imbecile.
Post 170.
I think it's ok to pay income tax on "income" and to not pay income tax on "not income".
loopholes in U.S. tax law that aren't available to the middle class and working poor?
I have never paid income tax on "not income". Have you?
You keep bring up shit that IS taxable, getting early withdrawal $$$ from your 401K isn't income.
You get taxed on both ends because of that.........For early withdrawal, not considered income.
Just like taking $$$ out of your bank checking account.
The dividends, if any...................... ARE.
Again.
Your dear leader is the king.
You can't even fix yours, with LESSONS.
I did.
Adjusted gross income, also known as (AGI), is defined as total income minus deductions, or "adjustments" to income that you are eligible to take.
- Gross income includes wages, dividends, capital gains, business and retirement income as well as all other forms income.
- Examples of income include tips, rents, interest, stock dividends, etc.
- Adjustments to income are deductions that reduce total income to arrive at AGI.
- Examples of adjustments include half of the self-employment taxes you pay; self-employed health insurance premiums; contributions to certain retirement accounts (such as a traditional IRA); student loan interest paid; educator expenses, etc.
Generally, the amounts an individual withdraws from an IRA or retirement plan before reaching age 59½ are called "early" or "premature" distributions. Individuals must pay an additional 10% early withdrawal tax unless an exception applies.Aug 19, 2024
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-exceptions-to-tax-on-early-distributions#:~:text=More In Retirement Plans&text=Generally, the amounts an individual,tax unless an exception applies.
Retirement topics - Exceptions to tax on early distributions - IRS
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-exceptions-to-tax-on-early-distributions#:~:text=More In Retirement Plans&text=Generally, the amounts an individual,tax unless an exception applies.
You pay a 10% tax because of early withdrawal, not because it's classified as income, you dumbfuck.
l was the purchasing agent for a large corporation. I saw all of the ways the corporate money was spent. In fact, since I made the deals for all the vehicles, tools etc. I spent most of it. Sounds like an ideal situation providing I am honest. The owner (CEO) would come in and take the business credit card and go shopping for the business. While he was at it, he also picked up his weekly home shopping list using the same card. That was not counted as income (when it should have been). When he needed to remodel his home, he designated it as Employee Housing and the corporation paid for it. His kids College Expenses were paid for by the corporation, the vehicles they drove were company vehicles. And not one dime was called income. Shall I go on?
One morning, we were standing outside of the main building. The locks had been changed over the weekend. He had filed for Chapter 13 bankruptcy for the company. He walked out with an almost million dollar home, his cars, the cars that his kids had, had channeled money into accounts to pay for their education and pocket about 3.5 million dollars. Meanwhile, this is the method that MOST uber rich work with. Just before the conn is noticed by the IRS, they fold up shop and leave hundreds of workers out of work.
If only someone had reported his theft to the IRS...........
Hillary's daughter is so ugly, like a real "double bagger"They trotted her out to soviet-friendly 60 Minutes and she fucked the pooch.... she's a fucking idiot trying to masquerade as a mediocre politician and it's not working... not even close.
The likability of hillury with the intellect of that daughter-raping, decaying corpse on the beach....
Huh? Wha...?
View attachment 1023727
Until he ran off with the funds, and didn't file taxes on any of it, there was no real laws broken. All he would have to do is to file an amendment for the years that they were looking at and pay the taxes. If the IRS never caught wind of it, it's just the way the uber rich get richer. WE can't stop these people from doing this. And turning them in doesn't work. So we raise the minimum tax they openly pay to make up the difference. When Reagan and his goons lowered the taxes on millionares and above, they left the back doors open to the point is, they either paid no taxes or WE paid taxes to them in a round about way.
Until he ran off with the funds, and didn't file taxes on any of it, there was no real laws broken.
After you blew the whistle on him, how much did the IRS recover?
How much did you get for your reward?
Whistleblower Office | Internal Revenue Service
Get information about the IRS Whistleblower Informant Award, how to apply for the award, news from the Whistleblower Office and more.www.irs.gov
It must have been a lot, right?
Yah, it's whatever unemployment pays. And as Purchasing Agent, I was Business Admin type and not a CPO. And neither were any of the other employees. The laws protect the uber rich criminal, not the rest of us. We pay and they take.
