Word: thorntons
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...SIMPLE PLAN A wad of hot money tests the brotherly love of Billy Bob Thornton and Bill Paxton. Director: Sam Raimi...
...money. If that's you, convert this year while the taxman is running a Roth special: you get to spread the tax liability over four years. But if you're near retirement and lean toward bonds or CDs, converting may be a bad idea. Analysis by accountants Grant Thornton shows that a couple in the 28% tax bracket ('98 income between $42,350 and $102,300) will need 22 years to come out ahead, assuming some state tax, a 15% federal-tax bracket in retirement and 6% average annual returns...
...taxes the recovered depreciation, in this case $20,000, at a rate of 25%. The rest of the gain is taxed at 20%. Where this really gets tricky is with installment sales. Tom Ochsenschlager, a tax partner with Grant Thornton in Washington, says taxpayers may choose one of two ways to apply the new rule. They may pay 25% on all gains received until the depreciation has been recovered, and then pay 20% on everything after that. Or they may pay a blended rate on all gains for as long as they receive payments...
Generally, the targeted tax goodies for education and retirement get phased out for joint filers with an annual household income between $75,000 and $160,000. "The thresholds are tantalizingly high," notes Tom Ochsenschlager, a tax partner with Grant Thornton in Washington. "All of a sudden, you may find it makes sense to keep your '98 income down...
...cello and harp started the piece, Tipler not even lifting his conducting stick for this performance. A surreal beginning with the resonance of the chords, this duet between the two instruments was a mysterious love song, only to be interrupted by a loud explosion from cello soloist Chris Thornton `01 that cunningly brought in the rest of the orchestra...