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Is TANF taxable income?
No. TANF is not taxable, and should not be included on your federal income tax return. Per IRS Pub. 525 "Do not include in your income governmental benefit payments from a public welfare fund based upon need..."
What is a Class T mutual fund?
T-class funds are tax efficient versions of some of fund company's existing funds. These pay a set monthly amount based on the manager or fund company's realistic expectation of the fund's future performance. Typically, a portion of this distribution is treated as a return of capital, which is not immediately taxable. Conversely, the return-of-capital amounts are deducted from the cost base of the fund. This will increase the capital gain when the fund is eventually sold. The other negative is that in periods of poor performance, the fund value may not grow enough to offset the amounts distributed. This would result either in a drop in the fund's net asset value per share or a distribution cut.
How much can you get from a hardship fund?
How much do u get hardship payments
What is eqUItable premium?
the contribution paid into the fund should be fair to all the parties
Are mutual fund losses tax deductible?
No. The losses have to be managed by you. You cannot claim any tax benefits on them.
I recieved a trust fund payout in 2008 I just graduated college, how much is taxable?
There is at least 20% that is taxable from the fund.
Is the Employees' Provident Fund pension received after retirement taxable?
No, it is not taxable
Is TANF taxable income?
No. TANF is not taxable, and should not be included on your federal income tax return. Per IRS Pub. 525 "Do not include in your income governmental benefit payments from a public welfare fund based upon need..."
Is provident fund taxable on behalf of company?
No
What is a Class T mutual fund?
T-class funds are tax efficient versions of some of fund company's existing funds. These pay a set monthly amount based on the manager or fund company's realistic expectation of the fund's future performance. Typically, a portion of this distribution is treated as a return of capital, which is not immediately taxable. Conversely, the return-of-capital amounts are deducted from the cost base of the fund. This will increase the capital gain when the fund is eventually sold. The other negative is that in periods of poor performance, the fund value may not grow enough to offset the amounts distributed. This would result either in a drop in the fund's net asset value per share or a distribution cut.
Is the Principal and the interest amount withdrawn after the closure of Public Provident Fund Account on maturity is taxable?
If you withdraw before completing 5 years of service - Yes, it is taxable. If you have completed 5 full years, no it is not taxable
How much can you get from a hardship fund?
How much do u get hardship payments
On what basis are mutual funds taxed?
shareholders are taxed on the distribution of fund's income. For tax purpose, mutual funds distribute their net income to the shareholders in two ways: (1) dividend and interest payments and (2) realized capital gains.
Where was the Pension Protection Fund founded?
The Pension Protection Fund was founded in the United Kingdom. A Board is designated to manage the fund and make payments to members. The Board is established as a statutory corporation.
What is second injury fund?
A second injury fund is a fund set aside by insurance companies to reimburse employers. The fund reimburses the company for any compensation payments made by the company themselves while an employee was injured.
Retirement do they tax you on your retirement?
Most Federal Salaries are taxed Money you use for your retirement is taxed just like any other income. It is the source of the funds that may have had special tax circumstances when established. (For example, many are established with tax deductible payments during your working years...meaning the income was never taxed). Generally retirement income is taxable. It depends on how the savings the fund the plan that sources or produces the income were taxed when contributed, and while the investment grew. For example certain types of plans, a Roth IRA most notably, the income may NOT be taxable, whereas in a normal IRA it is only taxable in part. Pension plans are virtually always taxable. Talk to your plan administrator where the funds are sourced fro specifics on your plan. they will also be sending tax reporting information to you and the IRS. BE ADVISED, BY FEDERAL LAW MANY PROGRAMS REQUIRE YOU TO TAKE AT LEAST A MINIMUM DISTRIBUTION EACH YEAR (an AMD - alternative minimum distribution) that is taxable (regardless of if you need it, want it, or not) or have unsavory tax and financial consequences.
Is provident fund amount taxable on withdrawal?
If withdrawn before 5 years it is taxable else it is not taxable
