ALL ABOUT FINANCE

Author: Andrew Lee  About 5 minutes read. DISCLAIMER: Author is not a tax professional nor financial advisor. All materials here are provided as-is and it is only used for general information. It does not guarantee the same future performance or outcome. Please consult with a qualified tax professionals and financial advisor for your individual situation and perform your own due-diligence. If you are new to Annuity, you can read up on this article “ Annuity, annua? A lifetime income? ” which provides a general overview what an Annuity is. It is recommended to consult with a qualified and licensed life agent or financial advisor for such product if you are interested. Here, we will mention 2 common strategies. Whether the strategy is suitable for you depends on individual conditions, goals, and your risk tolerance. One is called the  split annuity , and the other is leveraging an  equity-indexed annuity  product. 1. Split Annuity There are different ways to plan accor...

  Photo by The New York Public Library on Unsplash Author: PaZoo About 3 minutes read. The only reason why I want to write this is to share my own experience. When I started working, I was not aware of any of these, and I basically never thought about them or reviewed them until later. I hope this could be a wake up call for those that started working, and making some earned income to think about these since tax does impact your take-home $, but do not take it negatively, they are also the vehicle for public good and pay for our infrastructure, social benefits, and society, to run our government and business, and create job opportunities, etc. It is reciprocal.  AFAIK, there are 3 tax categories today most people will encounter. They are Taxable Income, Tax-Deferred, and Tax-Advantage respectively.  What do they mean? Generally speaking, it means Taxable Income - tax every year Tax-Deferred - instead of tax every year, they are deferred and tax later Tax-Advantage ...

Photo by Olga DeLawrence on Unsplash Author: Andrew Lee About 2 minutes read. DISCLAIMER: Author is not a tax advisor nor tax professional. All materials and references below are interpreted as-is and is only used for general information purposes and not for tax advise. Please consult with a qualified tax professional before following any information here. In case you are still wondering whether you need to pay tax on the stimulus check. The answer is no, and it also "will not affect your income purposes of determining eligibility for federal government assistance or benefit program". According to IRS, the stimulus check you receive will not impact your gross income and you do not need to include in your tax filing.  "No, the Payment is not includible in your gross income. Therefore, you will not include the Payment in your taxable income on your Federal income tax return or pay income tax on your Payment. It will not reduce your refund or increase the amount you owe ...