Word: taxed
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Parents reeling from the complexity of their 529 college savings plan will be glad to know that help may be on the way. Congress last week grilled industry watchers on how the plans, which let money invested for college grow free of federal tax, are designed and sold. They have ballooned in popularity and now hold more than $50 billion in assets. But with each state designing its own program, 529s have developed into a hodgepodge of variations, many with multiple layers of fees not clearly disclosed. The National Association of Securities Dealers has launched an investigation into broker-sold...
...TAX CONCERNS. You'll forgo some tax benefits associated with investing in real estate, says Islandia, N.Y., financial planner Michael Kresh. You usually can't deduct depreciation, and when you begin withdrawing money from a traditional IRA or SEP-IRA, those funds will be taxed as regular income. Since a Roth IRA lets you withdraw funds tax free after age 59 1/2, that may be your best option...
...Colombia, or FARC. But after the 1993 death of Medellín boss Pablo Escobar, Colombia's drug cartels broke up into less powerful organizations. That created the opportunity for the AUC and the FARC to become more deeply involved in Colombia's cocaine trade. Both claim they only "tax" coca cultivation and cocaine traffic on their turfs. But collectively, the AUC and the FARC now earn over $1.5 billion a year from drugs, according to U.S. officials. Analysts say that could only result from moving the product themselves. The cash has allowed the AUC and the FARC to build...
YURI SCHMIDT, defense lawyer for Mikhail Khodorkovsky, former CEO of Russian oil firm Yukos, ahead of Khodorkovsky's trial this week for alleged tax evasion and fraud
Joshua A. Barro ’05, who led the opposition, compared the fee increase to a tax hike and took issue with the council’s ability to handle an expanded budget, as well as its ability to accurately assess student needs...