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Author: Kaye A. Thomas
Publisher: Fairmark Press Inc.
ISBN: 0967498112
Category : Business & Economics
Languages : en
Pages : 322
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Book Description
A complete, authoritative guide to taxation of stocks, mutual funds and market-traded stock options.
Author: Kaye A. Thomas
Publisher: Fairmark Press Inc.
ISBN: 0967498112
Category : Business & Economics
Languages : en
Pages : 322
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Book Description
A complete, authoritative guide to taxation of stocks, mutual funds and market-traded stock options.
Author: Jason J. Fichtner
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
In order to increase personal saving and investment and to promote tax neutrality among various investment vehicles, the tax treatment of capital gains unrealized by mutual fund shareholders should be modified. The current policy of taxing mutual fund capital gain distributions unfairly discriminates against taxpayers seeking the investment benefits of diversification through mutual funds instead of through direct ownership of stocks. Therefore, the practice of taxing forced distributions of capital gains to mutual fund shareholders should be changed to allow for a deferral of taxation on reinvested capital gain distributions. Until shareholders realize a capital gain through the sale of an asset, no tax liability should incur. Since mutual funds are a popular vehicle for saving and investment of middle-income households, this tax reform would greatly increase the incentives for these people to invest and save for their future by increasing their after-tax rate of return. A tax deferral on mutual fund capital gain distributions as proposed in H.R. 168, sponsored by Rep. Jim Saxton (R-NJ), could increase the after-tax return by almost 15 percent over a 30-year period for many mutual fund shareholders. For a hypothetical taxpayer with an initial $10,000 investment in a mutual fund that returns 10 percent a year, the deferral on capital gain distributions as proposed in H.R. 168 would amount to $15,055 over a 30-year period after taxes. This amounts to approximately 150 percent of the original $10,000 investment. A change in the tax treatment of mutual funds would have a beneficial impact on all owners of mutual funds, but the benefits would primarily help those making less than $100,000 a year - 81% of households owning mutual funds, with 39% of households owning mutual funds earning less than $50,000 a year. A deferral mechanism, as proposed under H.R. 168, is relatively simple and would not result in a significant paperwork burden for mutual funds or their shareholders.
Author: United States. Congress. House. Committee on Ways and Means. Subcommittee on Select Revenue Measures
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 110
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Book Description
Author: United States. Congress. Joint Committee on Internal Revenue Taxation
Publisher:
ISBN:
Category : Mutual funds
Languages : en
Pages : 20
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Book Description
Author: OECD
Publisher: OECD Publishing
ISBN: 9264172882
Category :
Languages : en
Pages : 172
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Book Description
This book analyses the taxation of cross-border portfolio investments by means of collective investment institutions. Possible tax distortions specific to the area of collective investment institutions are identified for a representative group of OECD countries.
Author: Tomi Viitala
Publisher: IBFD
ISBN: 9076078750
Category : Capital gains tax
Languages : en
Pages : 427
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Book Description
The book analyses the taxation of investment funds and their investors from the standpoint of domestic tax laws, tax treaties and EC law. It also provides a comprehensive understanding of the tax issues arising in the cross-border transactions of investment funds and private fund investors in the European Union. The viewpoints of the source state of income, residence state of the investment fund as well as the residence state of the investor are all considered. The book takes a comparative approach by covering five EU Member States (the United Kingdom, Germany, France, Luxembourg and Finland). On the basis of the examination at the Member State level, the present tax rules and practices are tested against the fundamental freedoms of the EC Treaty. The conclusion is that there are still various tax measures that are likely to be in conflict with EC law. The book also discusses possibilities of adopting targeted measures of positive integration at the level of the European Union with a view to enhancing the objective of the single investment fund market.
Author: United States. Congress. Joint Economic Committee
Publisher:
ISBN:
Category : Investments
Languages : en
Pages : 14
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Book Description
To increase personal saving and investment and to promote tax neutrality among various investment vehicles, the tax treatment of capital gains unrealized by shareholders should be modified. The current practice of forcing distributions of capital gains to mutual fund shareholders should be changed. Until the shareholder realizes a capital gain through the sale of an asset, no tax liability should incur. with respect to regulated investment companies, the realization point that triggers a capital gains tax liability should be moved from the corporate level down to the individual shareholder level. Since mutual funds are a popular vehicle for saving and investment of middle-income households, this tax reform would greatly increase the incentives for these people to invest and save for their future by increasing their pre-liquidation rate of return. The current tax treatment of mutual funds causes the average mutual fund investor to lose between 10 percent and 20 percent a year of their pre-liquidation rate of return. On a $10,000 investment earning a 10 percent annual rate of return, a 2.3 percentage point reduction in the pre-liquidation rate of return would cost a mutual fund investor almost $82,000 over a 30 year period--on a $26,000 investment a mutual fund investor would forego approximately $213,000 over a 30 year period. A change in the tax treatment of mutual funds would have a beneficial impact on all owners of mutual funds, but the benefits would primarily help those making less than $100,000 a year, with 43% of households owning mutual funds earning less than $50,000 a year.
Author: Carrie Schwab-Pomerantz
Publisher: Crown Currency
ISBN: 0804137374
Category : Business & Economics
Languages : en
Pages : 434
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Book Description
Here at last are the hard-to-find answers to the dizzying array of financial questions plaguing those who are age fifty and older. The financial world is more complex than ever, and people are struggling to make sense of it all. If you’re like most people moving into the phase of life where protecting—as well as growing-- assets is paramount, you’re faced with a number of financial puzzles. Maybe you’re struggling to get your kids through college without drawing down your life’s savings. Perhaps you sense your nest egg is at risk and want to move into safer investments. Maybe you’re contemplating downsizing to a smaller home, but aren’t sure of the financial implications. Possibly, medical expenses have become a bigger drain than you expected and you need help assessing options. Perhaps you’ll shortly be eligible for social security but want to optimize when and how to take it. Whatever your specific financial issue, one thing is certain—your range of choices is vast. As the financial world becomes increasingly complex, what you need is deeply researched advice from professionals whose credentials are impeccable and who prize clarity and straightforwardness over financial mumbo-jumbo. Carrie Schwab-Pomerantz and the Schwab team have been helping clients tackle their toughest money issues for decades. Through Carrie’s popular “Ask Carrie” columns, her leadership of the Charles Schwab Foundation, and her work across party lines through two White House administrations and with the President’s Advisory Council on Financial Capability, she has become one of America’s most trusted sources for financial advice. Here, Carrie will not only answer all the questions that keep you up at night, she’ll provide answers to many questions you haven’t considered but should.
Author: Roderick Graham
Publisher:
ISBN:
Category : Government securities
Languages : en
Pages : 48
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Book Description
Author: Jason J. Fichtner
Publisher:
ISBN:
Category :
Languages : en
Pages : 17
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Book Description
Mutual funds are an important vehicle for low- and middle-income households to invest in the stock market and save for the future. The number of families investing in mutual funds has increased more than 1,000 percent, from 4.6 million households investing in mutual funds in 1980, to a high of 56.3 million in 2001. For 2003, 53.3 million households owned mutual funds.Recently, the mutual fund industry has received much attention relating to corporate structures, trading fees and expenses, and potential abuses in the industry. All of these issues are important and result in additional costs to mutual fund investors and should be fully addressed. Nonetheless, it is extremely important that attention not be diverted from the largest costs affecting mutual fund shareholders - taxes.Even if shareholders do nothing more than buy and hold mutual fund shares, they could still be hit with potentially large tax liabilities due to capital gain distributions. Shareholders are then either forced to sell assets to pay the tax liability, or must divert capital from other more productive uses in order to pay the tax. The current tax on mutual fund capital gain distributions is economically inefficient, creates an opportunity cost to shareholders, and can further result in considerable economic losses due to the effects of compounding.A bill (H.R. 496) introduced by Rep. Jim Saxton (R-NJ) addresses the problems taxable mutual fund investors face relating to the unfair and highly punitive tax levied on capital gain distributions. The bill would allow a deferral of capital gain distributions up to $6,000 for married couples filing jointly and $3,000 for all other tax filers. The deferral provision in Rep. Saxton's bill would provide substantial benefits to low- and middle-income taxpayers investing in mutual funds and significantly aid American families saving for their future.
