Video Comment on: Benefits of a Health savings account (Wells Fargo)
Karl Malin author of the number one e-book on the web “Health Savings Account Guidelines Made Easy”. Five Stars this is great information!
Duration : 0:0:28
Benefits of a Health Savings Account (Wells Fargo)
Cash ISAs vs. Savings Accounts
http://Creditchoices.co.uk show you how to save tax by saving in ISAs. Learn why ISAs are better than standard savings accounts from Creditchoices’ expert.
Duration : 0:1:50
100823 – Hyper Report
Reports on Hyperinflation:
As more Americans save the typical too big to fail banking savings account is paying close to 0 percent in interest
http://www.mybudget360.com/more-americans-save-with-low-interest-too-big-to-fail-savings-accounts-credit-card-average-near-peak/
Nearly 50 Percent Leave Obama Mortgage-Aid Program
http://www.breitbart.com/article.php?id=D9HNEND00&show_article=1
401(k) Withdrawals Spike
http://money.cnn.com/2010/08/20/news/economy/fidelity_401k_withdrawal/index.htm
California faces issuing IOUs again
http://www.ft.com/cms/s/0/3e65bb32-abb9-11df-9f02-00144feabdc0.html
Pete Stark Offers Currency Transaction Tax Bill
http://www.ibabuzz.com/politics/2010/07/20/pete-stark-offers-currency-transaction-tax-bill/
Please prepare now for the forthcoming economic, and subsequent social, unrest that will hit the U.S.
Duration : 0:2:55
Retirement Savings Fidelity 401k Hardship & 401k Loans SOAR to a 10 Year High
http://www.StockMarketFunding.com Fidelity 401k Hardship Withdrawals & 401k Loans on the Rise as 401k loans hit a 10 Year High. Retirement Saving Plans are not a saving account and we continue to see the average workplace savings investors paying taxes and penalties by taking premature withdrawals. We’ve highlighted 401k confiscation by the government in prior videos and we’ll be keeping you updated on the US Treasury and the government takeover of retirement savings.
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Fidelity: 401(k) hardship withdrawals, loans up
A record number of workers made hardship withdrawals from their retirement accounts in the second quarter.
High unemployment & companies cutting back on overtime or overall hours have reduced the take-home pay of many workers.
“People tend to be taking home less,”
In the 2nd quarter, some 62,000 workers initiated a hardship withdrawals.
45% of participants who took a hardship withdrawal a year ago
401(k) hardship withdrawal eligibility, individuals must demonstrate an immediate and heavy financial need, according to IRS regulations. Certain medical expenses; costs relating to the purchase of a primary home; tuition and education expenses; payments to prevent eviction or foreclosure on a primary home; burial or funeral expenses; and repair of damage to a primary home meet the IRS definition and are permitted by most 401(k) plans.
People under 59 1/2 will pay a 10% penalty for early withdrawal in addition to taxes.
Fidelity said it’s seen the number of workers taking 401(k) loans over the past year grow to 11 percent of total active plan participants from about 9 percent one year prior.
The portion of accountholders with a loan outstanding increased two full percentage points in the second quarter to about 22 percent. That figure is the highest in a decade!
The average initial loan amount as of the end of the second quarter was $8,650, which was typically to be repaid in 3 1/2 years.
Duration : 0:3:30
Taxes on Short Sale, Loan Modification & Mortgage Foreclosure 1 Nov08 Expert Advice from CPA
Tax on 1099C, Cancellation of Debt Income; Short Sale, Loan Modification & Foreclosure. Exception; Mortgage Forgiveness Debt Relief Act, Bankruptcy & Insolvency. Go To http://RealEstateMarketingThisWeek.com
Part 1 (Excerpt)
Expert tax advice from a CPA regarding a real estate related issues
Today’s show has a timely message. We have with us, an expert in the tax ramifications of the different types of mortgage situations that people find themselves in, we have brought in Mike Patenella, that I will introduce in just a moment, as well as Brett Fallon is back with us. Were going to be talking about the tax ramifications of short sales, foreclosures, and some of the different types of loan modifications.
Now if you listen to our show regularly, of course you know, we have been over the last several weeks, talking about loan modifications, but we have been getting hundreds of e-mails and calls requesting more information on the loan modifications. There are also some interesting questions that people ask about whats going to happen in regard to taxes. Thats the one thing that so many people are not talking about.
Well we need to talk about it. Its something that we need to bring to you that you can hear and thats what were going to focus the majority of today’s show on. Before I introduce Mike I need to introduce one of my very best friends and the best financial advisor I have ever known, Brett Fallon. Brett thanks for being on the show today.
Brett also has some information in regard to the markets and there is some really great, exciting stuff out there. But before I throw that back over to Brett, we have our expert guest today. He is a CPA and his name is Mike Patenella, thank you for being on the air with us today.
Mike is an expert in taxes, he is a CPA, he knows the ins and outs of all matters tax. His expertise in this particular area is widespread. Mike is an expert and will have specific answers to questions that we have put together. If you have had a foreclosure or youre facing foreclosure or if youre considering a short sale or bankruptcy, any number of things. Were going to touch on each just a little bit.
But we have a few numbers on our staff who are experts in loan modifications, we have put together a great video that helps explain the process, it’s about seven minutes long. And we will get that sent out to you in immediately.
Duration : 0:5:25
Canada Tax Free Savings Account
Starting in 2009, the government of Canada allows Canadians to deposit up to $5000 per year in a tax free savings account. Tax free savings sounds like a really good deal, right? Did you know there is an annoying “catch” ? I think it is a clever program to allow the rich increase their tax free income.
Duration : 0:4:13
Ally -
Ally
http://www.yellowpages.ca/bus/Canada/Ally/6222852.html?AFC-TT2527453564
Duration : 0:0:33
TAX FREE SAVINGS ACCOUNT ~ Good option for those who max out their RRSP or for Seniors
In 2009, taxpayers may contribute up to $5,000 per year to a tax-free savings account. The income is non- tax-deductible and thus tax-free upon withdrawal. We recommend this to seniors who are not eligible for RRSP contributions or taxpayers who have reached their limit in contributions to their RRSP.
Duration : 0:3:18
Tax Free Savings Accounts
KCCU’s Dave Deodato describes Tax Free savings accounts available January 2, 2009
Duration : 0:0:48
Alex Details How America has Now Gone into Complete Collectivism on The Alex Jones Show 4/4
Obamacare: Taxing The American People Into Oblivion
Steve Watson and Paul Watson
http://www.Prisonplanet.com
http://www.infowars.net
Tuesday, March 23rd, 2010
H.R. 3590, The Patient Protection and Affordable Care Act, to give it its full title, is rammed full of tax increases which will further economically cripple Americans already laboring under the worst financial crisis since the great depression.
The partnering Reconciliation Act, currently in the Senate, also contains a raft of pork barrel and tax hikes, there to fund the trillion dollar cost of nationalizing medicine.
As reported by Bloomberg News today, analysis by the nonpartisan congressional Joint Committee on Taxation reveals that the bill will generate $409.2 billion in additional taxes by 2019.
In addition, the Congressional Budget Office states that the bill also levies almost $69 billion more in penalties for those who fail to meet mandates to buy insurance.
The Journal of Accountancy boils down some of the tax hikes and penalty fees in H.R. 3590 and the Reconciliation Act the highlights include:
Excise Tax on Uninsured Individuals Individuals who fail to maintain minimum essential coverage will be subject to a penalty equal to $750. The fee for an uninsured individual under age 18 is one-half of the adult fee.
Excise Tax on High-Cost Employer Plans The federal government would impose a 40% tax on the value of employer-sponsored health coverage exceeding certain thresholds. Those levels are projected to be $8,500 for self only and $23,000 for any other level by the year 2013. This excise was announced with fanfare by the White House and labor unions in January and remains in the final bill.
Increase in additional tax on distributions from Health Savings Accounts and Archer Medical Savings Accounts not used for qualified medical expenses An increase from 10% to 20% on taxes of money in a health savings account not used for qualified medical expenses. For Archer medical savings accounts, an increase from 15% to 20%.
Additional Hospital Insurance Tax on High-Income Taxpayers High income tax payers, making on a joint return over $250,000 and a standard return over $200,000, are required to pay an additional 0.5% of wages. This applies to both self-employed, and regularly employed individuals.
Fees on Health Plans A fee applied to all health insurance providers based upon net premiums and any third party fees associated with the administration of those programs. The fees will total $6.7 billion annually. This figure begins at $8 billion in the Reconciliation Act and rises to $14.3 billion by 2018.
Tax on Indoor Tanning Services The act imposes a 10% tax on amounts paid for indoor tanning services. Like a sales tax, the tax will be collected from the person tanning when payment for the tanning services is made.
Business Insider boils down 15 more tax hikes here highlights include:
Tax on individuals without acceptable health care coverage A 2.5% income tax on individuals who do not have health care coverage, limited to a cost less than the average national health care premium.
Excise tax on elective cosmetic medical procedures A tax of 5% is levied upon the am mount paid for any cosmetic surgery. This does not include the need for such surgeries created by trauma or a disfiguring disease. If the tax is not collected by that professional completing the procedure, their business is still liable for the requirement.
The Reconciliation Act also legislates for the following surcharges: 1% surcharge on individuals making more than $350,000, 1.5% surcharge on individuals making more than $500,000, 5.4% surcharge on individuals making more than $1 million.
Yet more tax provisions in the bill are highlighted by INvestors Business Daily in their piece titled 20 Ways ObamaCare Will Take Away Our Freedoms highlights include:
Taxes On Employers If you are a large employer (defined as at least 101 employees) and you do not want to provide health insurance to your employee, then you will pay a $750 fine per employee (It could be $2,000 to $3,000 under the reconciliation changes) (Section 1513).
Taxes on Pharmaceutical Companies The government will extract a fee of $2.3 billion annually from the pharmaceutical industry (Section 9008 (b)).
Taxes on medical device manufacturers The government will extract a fee of $2 billion annually from medical device makers (Section 1405).
http://www.infowars.com/obamacare-taxing-the-american-people-into-oblivion/
Duration : 0:11:0