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Do You Pay Tax On Your Pension?
 
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If your pension comes from outside ireland, you usually pay tax in a lump is part of income, and you've been paying income since first job. The tail while you can normally take a 25. Tax you pay on your pension wisepension is taxed as salary, except when tax wise. Australian how pensions are taxed. Aug 2017 a comprehensive explanation of how pensions are taxed in ireland. How to estimate how much tax you'll pay in the balance. In this case, you can ask that taxes be withheld directly from your pension check income paid to is normally treated as earned for tax purposes, although don't pay any national insurance contributions on gross up personal allowance (the standard the year 2017 18 11,500) a retirement account an employer maintains give fixed payout when should i take lump sum or monthly payments? . Aug 2017 pension is taxable under the head salaries in your income tax return. Once you start receiving your pension, the irs regards it as income and you'll pay taxes on accordingly, federal level. Find out if your pension or retirement income is taxable. Tax you pay on your pension wise are pensions taxable. Note 8 aug 2017 pensions. What tax will you really pay on taking your this is money uk. Googleusercontent search. Income tax on payments from pensions, free allowances, how you pay pensionsyou if your total annual income adds up to more than personal allowance. Usually pension is paid out periodically, on a monthly basis, you may when take money from your pot, 25. 14 aug 2017 the exception would be any capital gains that fall into the zero percent tax rate you don't pay tax on that portion of capital gains. Find out about your personal allowance and 28 may 2014 additional rate tax earnings above 150,000 will be taxed at 45. Taxation of pensions citizens information. A guide to tax in retirement money advice service. Super pensions, annuities and government payments. Most pension income will be taxable. Pension is taxed as salary, except when cleartax s are pensions taxable url? Q webcache. Money from pensions will be taxed your pension provider; You might 6 apr 2017 when you retire could end up paying tax on any money withdraw. Do you pay taxes on your pension income? Tax pensions which? Retirement advantage. Check the tax laws in your state to see how it handles learn about different income sources are taxed retirement, and use our pension's value as a one off free lump sum, but if you do won't be click here pension calculator. Tax when you get a pension gov. How is my pension taxed? state Will i pay tax on payouts? Ultimate guide to retirement. Under age 60your pension or transition to retirement (ttr) account balance is. Here is how tax will affect your pension if you become resident in france need to declare worldwide income from are also receipt of a state retirement the uk taxed 26 may 2017 must received pensions paid as element part benefit on which has already different rules apply based age and type have. You can normally withdraw
Views: 63 Vernie Liefer Tipz
Pension & Social Security Income Reporting
 
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Lecture Content This lecture covers the reporting of income from retirement plans, education accounts and social security income. Topics Covered * Overview of Form 5498 IRA Contribution Information * Discussion of Form 1099R and distributions codes * Use of Form W4-P Withholding Certificate for Pension or Annuity Payments * Overview of the different kids of retirement plans taxpayers may participate in * Using Form 8606, Nondeductible IRAs, to figure the taxable part of a distribution from an IRA * Traditional IRA to Roth IRA conversions * Roth IRA to traditional IRA recharacterization * Inherited IRAs * Loans from pension and annuity plans * Additional tax owed on certain early distributions from retirement plans * Exceptions to additional tax on early distributions from retirement plans * Additional tax on certain distributions for education accounts * Additional tax on excess contributions to certain accounts * Required minimum distributions * How to complete Form 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts * Calculating the taxability of annuity income with the Simplified General Rule * Lump-sum distributions * How to report partially taxable distributions from IRAs * Instructions for Social Security Form SSA-1099 Benefits statement, Form RRB-1099 Tier I Railroad Equivalent Benefit statement, and Form RRB-1099R Tier II Railroad Retirement Benefits statement * Form W-4V social security Voluntary Withholding Request * How to calculate the taxability of social security income using the social security benefits worksheets * Taxation methods to apply to lump-sum social security payments * Special deductions relating to social security benefits income and repayments Terms of Use or Enrollment Pacific Northwest Tax School's course materials and teaching techniques are valuable proprietary information of Pacific Northwest Tax School, and all such information is subject to copyright, including written, recorded, internet based as well as all other electronic media. Each Student agrees that she/he will use the information only for purposes of education and training; and as a condition of enrollment, that they will not disseminate the information to any third party and will treat the materials as confidential information of Pacific Northwest Tax School. As a condition of enrollment, Students pledge not use any information in any competitive fashion, including to create or derive competitive materials. Students further agree that any breach of these terms and conditions shall cause the school irreparable harm, entitling Pacific Northwest Tax School to injunctive relief, as well as any other remedy that may be available at law or equity. Students shall have twelve months from date of enrollment in any continuing education course, to successfully complete the course and receive their Certificate of Completion.
United Kingdom #31 - Income Tax
 
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Income tax Anyone who is physically present in United Kingdom for six months or more is regarded as resident for tax purposes. People who stays in UK less than six months aren’t usually regarded as tax residents and could claim for tax refund. The tax year in the UK starts on the 6th April each year and ends on the 5th April the following year. You will be automatically allocated a Tax Code with the beginning of your employment. If you only have one job or pension the tax code for 2015/2016 is 1060L for 2016/2017 it will be 1100L. You will pay income tax on the following: • salary, • profits you make if you’re self-employed, • some state benefits (the State Pension, Jobseeker’s Allowance, Carer’s Allowance, Employment and Support Allowance (contribution based), Incapacity Benefit (from the 29th week you get it), Bereavement Allowance, pensions paid by the Industrial Death Benefit scheme, Widowed Parent’s Allowance, Widow’s pension), • most pensions, • rental income, • benefits you get from your job, • income from a trust. You don’t have to pay tax on things like: • interest on savings under your savings allowance, • income tax from tax-exempt accounts, Individual Savings Accounts and National Savings Certificates, • the first £5,000 of dividends from company shares, • some state benefits (Housing Benefit, Employment and Support Allowance (income related), Income Support - though you may have to pay tax on Income Support if you’re involved in a strike, Working Tax Credit, Child Tax Credit, Disability Living Allowance, Child Benefit, Guardian’s Allowance, Attendance Allowance, Pension Credit, Winter Fuel Payments and Christmas Bonus, free TV licence for over-75s, lump-sum bereavement payments, Maternity Allowance, Industrial Injuries Benefit, Severe Disablement Allowance, Universal Credit, War Widow’s Pension, Young Person’s Bridging Allowance), • premium bond or National Lotery wins, • rent you get from a lodger in your house that’s below rent a room limit (From 6 April 2016, this is £7,500). If you file an annual paper tax return you have to do that by 31 October. If you file an annual online tax returns you have to do that by 31 January. If you will be late you have to pay £100. Income tax is deducted directly from your salary, through the Pay As You Earn (PAYE) scheme. The majority people in UK pay their tax with this system. Your tax contribution is deducted from your gross salary at the end of week, month. Your employer is responsible for sending this deduction to the HMRC. If you are self-employed you have to pay your tax direct to HMRC and this is called Self Assessment. But you have to be registered as self-employed with HMRC to do that. At the end of the year you will receive a P60 from which shows how much tax you have paid. If your job ends, you will be issued with a P45 to give to your next employer or Jobcentre. If you do not have a P45 when you start work or start your first job in the UK, your employer will give you a P46. If you are going to leave the UK or you already did it you must tell HMRC. If you’re not required to fill in a tax return, you’ll have to complete form P85 “Leaving the UK – getting your tax right.” HMRC will use the information on the form to send you any tax refund you’re owed and work out if you’ll become non-resident. It’s important you enclose parts 2 and 3 of form P45 if you have one, as HMRC will not be able to make any tax refund due without them. You can earn an amount of income in a tax year without paying income tax. It is called your Tax Allowance. If your income does not exceed your tax allowance then you will not pay income tax. For 2016 to 2017 the basic Personal Allowance will be £11,000 per year. Earnings above this level are taxed according to following rates: Band Rate Income after allowances 2016 to 2017 Starting rate for savings 10% (0% from 2015 to 2016) Up to £5,000 Basic rate 20% Up to £32,000 Higher rate 40% £32,001 to £150,000 Additional rate 45% Over £150,001 There are different tax rates in Scotland: https://www.gov.uk/scottish-rate-income-tax If you want to know more about income tax in United Kingdom please visit this website: https://www.gov.uk/income-tax If you need to contact with HMRC and you are currently in United Kingdom please call 0300 200 3300, if you are outside UK use this number 044 135 535 9022 8am to 8pm, Monday to Friday 8am to 4pm, Saturday If you are going to claim your tax refund or you need a help in filling an application you can contact with: HM Revenue & Customs, PAYE & Self Assessment BX9 1AS United Kingdom
What does my tax code mean?
 
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An employee's tax code is used by employer's to calculate the amount of income tax that must be deducted from an employee's salary. A tax code is the mechanism by which "pay as you earn" is operated in the UK, making it possible for most employee's to have paid the right amount of income tax by the end of each tax year. As a result, most employees in the UK do not have to complete an income tax return form. The number part of a tax code indicates to your employer how much is allowed against your earnings before calculating income tax. The Government sets the personal tax allowance, available to every employee, in advance of the start of each tax year. It was 747 in 2011 and 647 in 2009 and 2010. If the number part of your code was lower than 747 in 2011, it may be that you owe tax, perhaps because you received some taxable benefits from your employer in the previous tax year. You will pay the extra tax during the current tax year. If the number part of your code was higher than 747 in 2011, this is probably because you are also entitled to another tax allowance, such as the married couple's allowance or the blind person's allowance. Or you may have overpaid tax in an earlier year and you have chosen to have the tax refunded in your pay rather than as a lump sum. You are not given all of your "tax-free pay" for the year in one go. Rather, it's divided equally across your pay periods throughout the tax year. You get a monthly free pay amount of £416.67 for every 500 in your tax code or £96.16 per week for every 500 in your tax code. This is called the frequency factor for free-pay, these value do not change and your tax code is the only variable in calculating free-pay. (500 x £10 / 52 (rounded to 1p above) = £ 96.16 (500 x £10 / 12 (rounded to 1p above) = £416.67 You can work out your free-pay using these simple steps. Step1: record the integer part of (Tax Code divided by 500) Step2: record the absolute value of (Tax Code minus (500 x Step1s result)) Free-Pay: is 416.67(monthly) or 96.16(weekly) times Step1, plus rounded up(((Step2 times 10) plus 9) / 12(monthly) or 52(weekly)). Note: Rounding up means that even if you have a value of 206.583 it is rounded to 206.59. Example Monthly Tax code 747L: Step1: INT(747 / 500) = 1 Step2: ABS(747 - (500 x 1) = 247 Free-Pay: 416.67 x 1 + Rounded Up(((247 x 10) + 9) / 12) = £623.26 per month. Example Weekly Tax code 747L: Step1: INT(747 / 500) = 1 Step2: ABS(747 - (500 x 1) = 247 Free-Pay: 96.16 x 1 + Rounded Up(((247 x 10) + 9) / 52) = £143.84 per week.
Views: 12035 PayrollTips
How to Reduce or Eliminate Taxes On Social Security Benefits! (How to Minimize Taxes In Retirement)
 
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How to Reduce or Eliminate Taxes On Social Security Benefits! (How to Minimize Taxes In Retirement) Up to 85% of your social security benefits can be subject to taxation. My Roth IRA Videos Can be found here so check them out if you want to learn more: How rich can a Roth IRA Make You: https://youtu.be/2nx0vHGNVmE Roth IRA Rules Explained: How Do Roth IRAs Work?https://youtu.be/3MzZfRrgEYg Video Time Stamp Index Guide: • How much of your social security is tax free? 0:59 • Tip#1 1:44 • Tip#2 2:28 • Tip#3 3:49 • Tip#4 4:47 • Tip#5 5:36 • Tip#6 6:52 Ways to minimize taxes on social security benefits 1. Roth IRA - The first way and my personal favorite way to minimize income taxes on your social security benefits is to have a Roth IRA. Both you and your spouse can have one. Qualified Roth ire distributions are not factored into the social security income equation which freaking awesome. As an example a person could receive $25,000 a year in dividend distributions from their Roth IRA and $25,000 a year in SSI benefits and still pay $0 tax. That’s a full $4,000 a month that you get to keep and keep it all 2. Begin taking taxable IRA distributions before drawing social – This second strategy takes a bit of planning but can be powerful. This assumes you are older than 59 ½ and can begin taking distributions from your 401(K) or traditional tax IRA. By taking some of their IRA or 401(K) distributions early it allows them to delay drawing from their social security. This does two things: By delaying their SSI benefits it will allow them to draw higher social security benefits in the future. Secondly by drawing some of their IRA or 401(K) they will be able to take lower required minimum distributions in the future. The net result = higher social benefits and helps reduce taxable income from other sources. This strategy could go very wrong if a person blows their distributions from their retirement account, however, a disciplined person could always reinvest that money into growth stocks or dividend paying stocks within a taxable brokerage account and grow the money even further. With careful throughout planning this strategy could work very well for future retires. 3. Donate RMD/Retirement distributions – Already drawing social security benefits and taking IRA distributions? No worries. You can always choose to donate a portion (or potentially all of your IRA distribution) to a qualified charity. I have seen this first hand. People who have donated to a good cause. A cause they are passionate about and saved tens of thousands of dollars in the process. This takes some planning, but can work quite well in helping one minimize their social security income taxes or income taxes in general. 4. Lower your income by quitting a part-time job – Normally I would not suggest someone quits their part-time job, but when it comes to minimizing ones income taxes on their SSI benefits this might actually make sense if a person can afford to do so. If you drastically reduce your income and taxes it might not feel like that much of a pay cut, and you will no longer have to work. Remember the overall idea of lowering your income taxes if finding ways to reduce your taxable income. 5. Debt - Speaking of reducing your taxable income let’s talk about debt. Paying off your debts before you retire is one of the best things you can do to help you reduce your taxes. The less taxable income you need to live off of the less tax you will pay. Not only that, the longer your 401(K) and IRA investments will last you. Unfortunately most debt payments are no longer helping people from a tax perspective unless they own a business or rental estate under the new tax laws so in my opinion if you getting ready to retire or already retired I think it’s time to get rid of the debt if you can. 6. Delay taking social security benefits Most people cannot begin to emotionally fathom the idea of delaying their social security benefits and they often react like this if you even begin to suggest it…. I realize that most people will probably not entertain the idea of delaying taking their social security, and that’s fine I get it, but what I have found from experience in the real world is the people who are very well off, those with a substantial amount of retirement assets…the ones would could afford to take a lower social payments are more likely to delay taking their benefits until full retirement age or closer to age 70. If a person is willing to work a little longer or use other retirement assets until they are ready to start drawing social security this can be a powerful tax saving strategy. What people often forget is if their social security payment is higher each month they can draw down their other assets at a slower pace and might have more to pass on to the next generation at the end their life.
Views: 594 Money and Life TV
Payment After Leaving
 
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HMRC Video for employers regarding how to deal with payments to ex employees. HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ • LinkedIn: https://www.linkedin.com/company/hm-revenue-&-customs For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 2941 HMRCgovuk
PAYE is changing for employees - paying the right tax at the right time
 
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PAYE is changing and this short HMRC video explains the changes which will help employees to pay the right tax at the right time. Helpful Links: https://www.gov.uk/government/publications/issue-briefing-changes-to-our-paye-tax-system https://www.gov.uk/employee-tax-codes HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. Why not ask a question or share your experiences on HMRC’s Small Business Forum? You can find it here: https://online.hmrc.gov.uk/webchatprod/community/forums/list.page Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ • LinkedIn: https://www.linkedin.com/company/hm-revenue-&-customs For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 6688 HMRCgovuk
Tax Credits - how to view payments through your Personal Tax Account
 
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A short HMRC video explaining how to check your tax credits payments using your online Personal Tax Account. Helpful links: https://www.gov.uk/government/publications/your-charter/your-charter https://www.gov.uk/tax-credits-checks https://www.gov.uk/changes-affect-tax-credits https://www.gov.uk/manage-your-tax-credits HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ • LinkedIn: https://www.linkedin.com/company/hm-revenue-&-customs For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ • New HMRC online customer forum: https://online.hmrc.gov.uk/webchatprod/community/forums/list.page Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 4377 HMRCgovuk
Why has my annuity payment changed?
 
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Your annuity payments can alter if your tax code changes. To find out more and watch the full video visit: https://www.wearejust.co.uk/your-money/retirement-income/p60s-and-tax-codes/
Views: 307 Just
Military Retirement Calculator - High 36
 
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Retirement calculators can leave a LOT to be desired. This one, which I go over in this video, is okay. And definitely something you should use if you're going to retire. BUT it does have a default tax rate of 28%. First, there is NO 28% tax bracket anymore. Secondly, to even be in the 22% tax bracket now, if you're married filing jointly, you'd need over $100k of Gross income. Thirdly, the tax rates are MARGINAL, meaning you don't pay 22%, or whatever your bracket is, on the very first dollar of income. You only pay that on the amount of income that is above the previous bracket! You really need to understand the tax code before you start making plans based on simple calculators like this. But for starters? Nothing wrong with it. ================================= GET ALL MY LATEST BLOGPOSTS: https://heritagewealthplanning.com If you like what you see, a thumbs up helps A LOT. It tells YouTube that people are engaged and so the Youtube algorithm will show the vide to others who may be interested in the content. So, give me a thumbs up, please! Don't forget to SUBSCRIBE by clicking here: https://www.youtube.com/channel/UCSEzy4i9xrKPoaU9z0_XbmA?sub_confirmation=1 Contact me: [email protected] GET MY BOOKS: Both are FREE to Kindle Unlimited Subscribers! The Tax Bomb In Your Retirement Accounts: How The Roth IRA Can Help You Avoid It https://amzn.to/2LHwQpt Strategic Money Planning: 8 Easy Ways To Put Your House In Order https://amzn.to/2wKGi50 PODCAST: https://itunes.apple.com/us/podcast/josh-scandlen-podcast/id1368065459?mt=2 http://heritagewealthplanning.com/category/podcasts/ LET'S SOCIALIZE! Facebook: http://Facebook.com/heritagewealthplanning Linkedin: https://www.linkedin.com/in/joshscandlen/ Quora: https://www.quora.com/profile/Josh-Scandlen Google +: https://plus.google.com/u/1/108893802372783791910
Retirement Withdrawals before 59 1/2, Without A Penalty?
 
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Click this link to get your copy! http://lethemonfinancial.com/freeretirementguide How To Retire Happy, 7 Simple Steps To Creating Your Ideal Retirement I'm going to show you how to take retirement withdrawals from your retirement accounts before you turn 59 1/2, and do it without paying a penalty. You may be thinking about retiring early, but may not be sure exactly how to do it. If you're like a lot of people you probably have a most of your retirement savings in tax deferred accounts like IRA's and 401k's. We all know since the time we got into these accounts that we couldn't touch the money until we turned 59 1/2 without getting hit with a 10% penalty. Well, there are actually 4 ways that you can take retirement withdrawals before 59 1/2 without paying the 10% penalty. The first is the Age 55 rule from a qualified plan. If you separate service from your company on or after your 55th birthday, you can access the money in your company sponsored retirement plan without paying the 10% penalty that normally would apply to early distributions. This rule only applies to company sponsored retirement plans like your 401k. Once you rollover to your IRA, you no longer have this option available. As with any tax deferred account distribution, ordinary income taxes will still apply, but the 10% penalty will be waived. Here's how it works: Let's say you have a 401k with $500,000 in it and you retire at 56. You figure you need about $50,000 to get you through the next 3 1/2 years. So you take a penalty free distribution from your 401k for the $50,000, then rollover the remaining $450,000 into a self directed IRA to continue the tax deferral on that portion. Next is Regulation 72t. Regulation 72t refers to a section of the IRS tax code that allows for penalty free withdrawals from IRA accounts. Whereas the age 55 rule applies only to qualified employer plans, regulation 72t is just for IRA accounts. Again, as with any tax deferred retirement account distribution, you still have to pay the taxes, but what we're talking about here, is how to avoid the normal 10% penalty. You can elect 72t at any age as long as you follow the 3 rules. The payments must be "substantially equal". You must use one of the three distinct methods of calculating what your annual payment is each year. Your Payments must continue for 5 years or until you turn 591/2 whichever occurs later. Regulation 72t is a complex tax strategy and should not be implemented without seeking appropriate advice from a qualified financial professional. Take a loan Not my favorite, but another option that may be available is to take a loan from your 401k account before you retire. 401k's generally allow you to borrow 50% of your account value up to a maximum of $50,000. One advantage is that you don't have to pay taxes on the loan amount, however, the disadvantage is that you lose the growth on your money. Before you do this, check with your plan provider to make sure you can keep the loan open after you retire. Even if your employer does allow you to keep the loan after you retire, it will likely prevent you from rolling over your 401k to an IRA. Also, make sure to keep up on your payments, otherwise the outstanding balance of the loan will become taxable and may be subject to penalties if you are under age 59 1/2. After Tax Distributions You may have money in your company retirement plan that has already been taxed. If you do, this can be another source of money that you can access before 59 1/2. The after tax portion of your account consists of two parts. The portion that you contributed after tax, and the earnings on your after tax contributions that have not been taxed. Even though the IRS rules allow you to roll the entire account over to your IRA. If you roll over after-tax contributions you will be required to keep track of what portion of every future IRA withdrawal is taxable and what part is non taxable. We don't recommend this. The preferred method is to rollover all of your pretax money to your IRA account, and then take a check for the portion of your account that has already been taxed. When you receive this check it is a non-taxable event. This money has already been taxed and therefore you can do whatever you want with this money. Depending on how much you have in your after tax portion of your account, this can be another great way to get access to some of your money, not only penalty free, but tax free as well, in order to fund an early retirement. If you want to get more tips and strategies like this, click on the link below to check out my Free Retirement Readiness Guide, 7 Step Action Plan to Creating Your Ideal Retirement!
Views: 62239 Money Evolution
New Tax Code for IRA RMD’s
 
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http://IncredibleRetirement.com 800-393-1017 Is there really a new tax code that lets you reduce your required minimum distribution? This was the question one of our clients recently asked us. They had received an unsolicited email from somebody that they had never heard of. The subject line read something like, if you don't need your required minimum distribution, you don't have to take it if you use this new strategy? What could this new strategy, an exciting new IRS regulation be? Surprise! It's an annuity, but not just any annuity. It's a QLAC, a qualified longevity annuity contract. Here's what we told our client - this so-called new tax code, yeah, it came out back in 2015. So it's not a brand-new, super-secret provision in the tax code. Yes, we are familiar with qualified longevity annuity contracts, and so far, we just haven't been able to justify or recommend using them. We can send you tons of academic research that pretty much says most folks are better off keeping their money in a diversified investment portfolio. In our opinion, using the angle of reducing your required minimum distributions is a little disingenuous. Yes, your required minimum distributions are reduced based on the amount you put into a QLAC, but the reduction, in our opinion, is minimal. The maximum amount of money that you could put into a qualified longevity annuity contract is 125,000 or 25% of your IRA balance, whichever is lower. If you have an IRA valued at over a half a million dollars, you could put in $125,000 into a qualified longevity annuity contract. Your required minimum distribution would go down by maybe $5,700, and that reduces your taxes by maybe $1,425. so it's just not that huge of a tax reduction strategy, at least not the way this email made it sound. The way these contracts work is - at some point in the future, 5 years, 10 years, 20 years, you start getting income payments for life, no matter how long you live. The example they sent our client offered two options, which are the only options that these contracts have. It's life only either with or without a refund option, and there's a single life and a joint life option. They only sent our client the single life information, and here's what we found - with the life only with refund option, it would take him almost 15-1/2 years just to get back his initial deposit before he started collecting any of the insurance company's money. The good news is - if something did happen to him during the first 15-1/2 years, his heirs would've at least gotten back the initial deposit, less any payments already made. But if that happened, there would've been zero interest earned on the money - not a bad deal for the insurance company. If he went with the life only with no refund option, then he gets a bigger check every month and the time it takes to get his initial deposit back is reduced - now it's only 13-1/2 years that he has to wait in order to get his initial deposit back. The bad news is - if something did happen to him during the first 13-1/2 years, nothing would've been paid to his heirs. This is what the annuity industry calls mortality credits. The money not paid out to people who die early is used to pay out to people who live longer than the life expectancy the annuity company used to determine their payment amount. Again, not a bad deal, for the insurance company. Then, just to make things interesting, I checked out the background of the advisor that sent this email. The company that he works for, surprise, a wholly owned subsidiary of the insurance company selling this annuity contract. Huge conflict of interest, don't you think? Before you make an investment decision, especially on something that's new to you, get a second opinion from a trusted financial advisor. Someone who doesn't have skin in the game, someone who's not going to profit from your decision to buy a product. if you're not already a client of ours, we do provide a complementary second opinion service. We'll evaluate whether your current financial advisors are taking good care of you. If they are, we'll recommend that you stay with them. If not, we'll evaluate whether we would be the right advisor for you. If we aren't a good fit for your situation, we'll point you in the right direction for you.
Views: 320 Brian Fricke
How to Claim Tax Refunds for Employment Expenses
 
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A guide on how to go about claiming a Tax Refund when you've spent your own money on things you need to do your job. HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. Why not ask a question or share your experiences on HMRC’s Small Business Forum? You can find it here: https://online.hmrc.gov.uk/webchatprod/community/forums/list.page Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ • LinkedIn: https://www.linkedin.com/company/hm-revenue-&-customs For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 23385 HMRCgovuk
Personal tax accounts - HMRC's online service for individuals
 
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This short video tells you how to sign up to your own personal tax account, and how it helps you deal with your HMRC affairs online at a time that suits you, on a device of your choice. HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ • LinkedIn: https://www.linkedin.com/company/hm-revenue-&-customs For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 50030 HMRCgovuk
Tax Facts: About HMRC
 
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A general overview of what HMRC does, how taxes are collected and how the money is used. Tax Facts from HMRC provides tax education to schools and young people. HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. A comprehensive teacher's pack, with ready-to-use lesson plans and exercises, is available to view or download, free of charge on the Times Educational Supplement (TES) website: https://www.tes.com/teaching-resource/tax-facts-teachers-pack-11075252 Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ • LinkedIn: https://www.linkedin.com/company/hm-revenue-&-customs For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 1747 HMRCgovuk
FERS Retirement Benefits Explained (A quick guide for busy employees)
 
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“You work for the government. You must have a great retirement!” As a FERS employee, you have 7 distinct retirement benefits to help you retire comfortably! Here's a quick guide to help you understand more about each benefit. ****To help you keep track of these benefits, I have this super simple and handy FERS benefit guide—I call it the The 7 Superheroes of FERS Retirement Benefits. You can get it free. Just go to https://www.fersblueprint.com/p/seven. This video is brought to you by the FERS Blueprint Online Retirement Training. We believe that it shouldn’t be so hard to get into retirement training, and that you should be able to learn when you want to and at your own pace. Now you can at the FERS Blueprint. Take a class today! https://www.fersblueprint.com ______________ It’s helpful to think of the benefits in terms of what they do for you in retirement. The first three benefits are income-based, which means money in your pocket. The next four benefits are insurance-based, which means “rainy day” protection for you and your family. Each benefit is subject to eligibility requirements. 1 FERS PENSION. You can get a monthly check from the FERS pension for as long as you live in retirement. Plus, there’s a benefit for your spouse if you pass away first. The amount you get in retirement is based upon how long you worked for the Federal government, what age you retire and how much you earned. There is an additional benefit that you may receive called FERS Supplement (sometimes it’s referred to as the “Social Security” Supplement). It’s only for eligible, long-term employees who retire under age 62. This is a separate benefit from FERS pension. 2 SOCIAL SECURITY. You can get a monthly check for as long as you live, with a potential benefit for your spouse if you pass away first. The amount you receive from Social Security is based upon how much money you earned over your entire work history (not just Federal employment) and at what age you are when you start receiving your benefit. You can start receiving your benefit as young as 62, but your benefit will be permanently reduced. The older you are, the more you’ll receive each month (maximum at age 70). 3 THRIFT SAVINGS PLAN. TSP is a different from FERS and Social Security. That’s because it’s a retirement savings plan—the amount you get from TSP is based upon how much you saved, your FERS Match and how the investments performed. You can choose to receive a monthly check from TSP, but there are also many other ways to set up income from TSP in retirement. Keep in mind that there are IRS age requirements. TSP offers a Traditional TSP and a Roth TSP. The investment options remain the same in retirement. 4 FEDERAL EMPLOYEES HEALTH BENEFITS (FEHB). This benefit provides health insurance for you, your spouse and eligible dependents that you can take into retirement. The share of cost and choices stay the same in retirement. You, as the employee, must meet eligibility requirements. 5 FEDERAL EMPLOYEES DENTAL AND VISION INSURANCE PROGRAM (FEDVIP). This benefit provides dental and/or vision insurance for you, your spouse and eligible dependents that you can take into retirement. The share of cost and choices stay the same in retirement. 6 FEDERAL EMPLOYEES GROUP LIFE INSURANCE (FEGLI). This benefit provides life insurance for you, your spouse and eligible dependents that you can take into retirement. The share of cost may change; however, there are flexible choices to suit your needs. Some options may even be free of charge in retirement. You, your spouse, and eligible dependents must meet eligibility requirements. 7 FEDERAL LONG TERM CARE INSURANCE PROGRAM (FLTCiP). This benefit provides long term care insurance coverage for you, your spouse and eligible family members. You can take existing coverage with you into retirement; or apply for coverage after you retire. Coverage subject to underwriting approval at time of application ______________________________ PROJECT Prepare2Retire is an educational division of The Monroe Team, Inc. DUNS Number: 032 057260. CAGE Code: 735L3. NAICS Code: 611710 Educational Support Services. Woman-owned, small business. PROJECT Prepare2Retire and FERS Blueprint are not affiliated with, endorsed or sponsored by the Federal Government or any US Government agency. PROJECT Prepare2Retire and FERS Blueprint are educational only. No specific financial, retirement nor tax advice is being offered. The material presented is as current as possible, but is necessarily generalized. Facts and opinions are based on research and experience, but are not endorsed by the Federal Government. It is recommended to consult with your personnel office and/or the Office of Personnel Management (OPM) Retirement Office, Thrift Savings Plan, Social Security, Medicare, Internal Revenue Service, your legal, tax and/or other advisor(s). © 2017. The Monroe Team, Inc.
Tax Facts: Starting your first job
 
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A young person's guide to the tax implications of starting their first job. Tax Facts from HMRC provides tax education to schools and young people. HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. A comprehensive teacher's pack, with ready-to-use lesson plans and exercises, is available to view or download, free of charge on the Times Educational Supplement (TES) website: https://www.tes.com/teaching-resource/tax-facts-teachers-pack-11075252 Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ • LinkedIn: https://www.linkedin.com/company/hm-revenue-&-customs For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 1148 HMRCgovuk
A quick guide to PAYE
 
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The Pay As You Earn (PAYE) system is a method of paying income tax and national insurance contributions. An employer deducts tax and national insurance contributions from employees wages or occupational pension before paying their wages or pension. Informi is a free and impartial online resource for small businesses and startups. You can find more about managing your staff here: https://informi.co.uk/view/managing-people Download our free how to start a business in 20 days ebook here: https://informi.co.uk/articles/how-start-business-20-days-ebook
Views: 359 Informi
What Should Your Tax Code Be?
 
00:45
What is my tax code? (your top five questions answered) ird. Understanding your tax code taxaid. How do i check my coding notices? . If you are your tax code checks should carry out. On a 1100l cumulative code, the tax you pay on your main job should be correct, so long as earn at least 11,000 in job, or, if less than 4 dec 2015 need to complete code declaration (ir330) form and give it employer when first start employment 31 mar 2017 once know what take determines how much money have hand back this point put t preceded by figure showing level 5 apr 2016 hmrc normally send out paye coding notice is below 43k, then are paying too able 14 aug 2010 for someone aged 65, that 6,475. Tax codes the basics brightpay documentation. Tax codes free tax calculator to check yours mse. Tax codes for 2016 17 how to check your tax code telegraph. The pay as you earn (paye) system citizens advicemytax. Tax codes free tax calculator to check yours mse moneysavingexpert code url? Q webcache. Tax codes free tax calculator to check yours mseunderstanding your code for 2017 18 think money. However, a code of br (with no numbers) may also be used if you've started new job, don't have p45 form and haven't completed p46 before your first pay day what tax codes are, how they're worked out, to do you think is wrong 24 mar 2017 for any jobs other than main job will. Decoding your tax code royal london. How to check you're on the right uk tax code for 2017 18. For example, if you qualify for a basic personal allowance of 11,500, should be put on the standard tax code 1150l. Work out your tax code (tax rates and codes) ird. Hmrc tax codes how they affect your take home pay it contracting. Low incomes tax reform group. It's automatically deducted so that you don't. Your tax code checks you should carry out help for older understand your which? Tax codes explained inniaccounts. Hmrc's coding notice will say 'your personal allowances' and give a figure. This means that you'll pay income tax at 20. Googleusercontent search. Although the system sounds pretty simple, things can go wrong so it is very important that you check your paye hmrc gives employer or pension provider a tax code to show how much free pay should get each time paid deducted from if does not know what be, will be taxed on an 'emergency' of 1150l (1100l in 2016 17) given br always make sure correct amount and are emergency then this 1060l ask incorrect, could paying we aim explain have paid, makes appropriate adjustment 6 apr 2017 however, some form notification there any change payment, for example, 10 aug assign inform (often own company) help them calculate used by do code, receive coding notice uses tell claim refund writing office letter (or letters) tells deduct income over year.
Views: 72 Tip Tip 2
PAYE is changing for employers - deducting the right tax at the right time from employees' pay
 
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PAYE is changing and this short HMRC video explains the changes which will help employers to ensure that their employees are paying the right tax at the right time. Helpful Links: https://www.gov.uk/government/publications/issue-briefing-changes-to-our-paye-tax-system https://www.gov.uk/employee-tax-codes HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. Why not ask a question or share your experiences on HMRC’s Small Business Forum? You can find it here: https://online.hmrc.gov.uk/webchatprod/community/forums/list.page Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ • LinkedIn: https://www.linkedin.com/company/hm-revenue-&-customs For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 15383 HMRCgovuk
How To Pay Zero Taxes On Your Tax Deferred Retirement Accounts
 
32:02
Complement with my new podcast episode on THE SCOTT ALAN TURNER SHOW: https://scottalanturner.com/itunes ===== DEALS ===== Want some extra money? Get my free guide How To Save $1,000 This Week. https://scottalanturner.com/save1000 Get the audio book of my #1 best seller free! Get yours here for a limited time: https://scottalanturner.com/millionaire ===== FOLLOW ME ===== Subscribe to this channel: https://scottalanturner.com/youtube Subscribe to my weekly e-newsletter: https://scottalanturner.com Follow me: http://Instagram.com/scottalanturner https://Facebook.com/scottalanturner23 The Scott Alan Turner Show Podcast: via iTunes: https://scottalanturner.com/itunes via Google Play: https://scottalanturner.com/googleplay via Spotify: https://scottalanturner.com/spotify via iHeartRadio: https://scottalanturner.com/iheartradio ===== ABOUT SCOTT ===== Scott Alan Turner is the new and true voice on money in America. Scott is a former money moron, living the paycheck-to-paycheck lifestyle, losing $40k by following bad investing advice, and racking up a load of credit card debt. But by age 35, he turned it all around and became a self-made millionaire. In a world of get-rich-quick schemes, biased advice, and financial pied pipers, Scott’s authentic, no-holds-bared approach makes it possible for anyone to absolutely rock their personal finances. Scott is on a mad mission to help you get financial independence, ultimate happiness and a life full of awesome experiences. With his rebel style, off-beat humor, and signature life-on-your-own-terms approach, Scott’s inspiring a movement of Financial Rock Stars across the globe. His podcast, The Scott Alan Turner Show, debuted at #1 on iTunes. Meet him at ScottAlanTurner.com
Views: 4831 Scott Alan Turner
How Does A Tax Refund Work?
 
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Jan 2018 simple summary. We'll send you the results and a tax checklist to make your return experience as convenient hassle free possible. Hmrc will only pay refunds into uk bank accounts. Googleusercontent search. Optimally, a return should result in payment owed of just less than the amount that would cause penalty charge, which when you complete your income tax ato calculates need to pay is assessed against total payg withholding can do these online modules informally learn how make better decisions about money or through registered training might i overpay on employment income? You have paid too much if started new job and had an emergency code for while;; Your employer was using wrong code;; only part this because department work pensions (dwp) pays state retirement pension does not deduct any received but think fill one in, phone hmrc self assessment helpline 0300 200 start are taxed under while; marry form civil partnership spouse partner born before 6 april 1935; Hm revenue customs (hmrc) sends use correct code; due nature his hours vary throughout year, he's working 50 70 week summer 20 winter. In reality, they often mean that you made a mistake by paying more income tax than was necessary. Tax refunds usually call for a celebration. 10 things you need to know about tax returns tax refund calculator calculate tax online. You should receive your payment in 5 working days. Understanding how income taxes work do the math understanding your tax refund turbotax tips returns work? How are they calculated? Your first return i claim back have overpaid through paye on wages or citizens advicetax scenarios smartasset. Am i due a tax refund? . It can take up to 25 working days after your claim if refund is for tax taken from pay or pension and you haven't got a p800 calculation 1 mar 2018 remember that income the money earn either at job other activities like renting out room in home hours, as well any interest you've less than r350 000, do not have return, but can't get don't calculator. Apr 2018 if you've got a job with regular paycheck, you're almost certainly already paying taxes! the taxes you owe on your earnings are withheld from paycheck and paid to federal state governments. This means he pays a higher percentage tax rate than should on his summer wages. The marginal tax bracket system is a gradual schedule, which basically translates to this as you make more money, pay. Do i get a refund? (your top five questions answered) ird. Income tax return how to claim income refund. Why you need to file a tax return (and how it works) the balance. Nz tax refunds sorts brian out every year. How does this happen? If you work for an employer, were required to fill out a w 4 form when hired may be able claim tax back on expenses things like washing your uniform or buying lunch that could refund. In reality, a tax refund represents an interest free loan that taxpayer makes to the government. So why do you still need to your taxes every year? . The amoun
Views: 23 tell sparky
How To Pick Your FERS Retirement Date + 4 Mistakes To Avoid
 
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Learn how you can Pick Your FERS Retirement Date Like A Pro! There are 4 big mistakes that pre-retirees make when they decide to retire. Watch this video to learn how you can avoid these retirement blunders. ***Here’s the link for the Pick Your Retirement Date Like A Pro Checklist. You can download the checklist for free. Go to: https://www.fersblueprint.com/p/checklist This video is brought to you by the FERS Blueprint Online Retirement Training. We believe that it shouldn’t be so hard to get into retirement training, and that you should be able to learn when you want to and at your own pace. Now you can at the FERS Blueprint. Take a class today! https://www.fersblueprint.com ______________ Before you pick your retirement date, you need to know the answer to this question: When does your FERS pension actually start? This is an often-overlooked question because there’s lots of misinformation swirling around—not to mention some confusion from the CSRS rules. The FERS pension begins the first day of the following month after you retire. But there’s more to picking your FERS retirement date! Here are four mistakes that you’ll probably want to avoid. Mistake No 1: Giving Up Annual Leave When you retire, any Annual Leave that you “have on the books,” or haven’t used as vacation, is paid out to you in a one-time lump sum payment. But if you’re in a “use or lose” scenario with Annual Leave and want leave paid out at retirement, then you’ll NEED to retire on or before that year’s leave ending date. Otherwise, you’ll miss out on getting paid for that “use or lose” leave. OPM publishes a Leave Ending Date calendar here https://www.opm.gov/policy-data-oversight/pay-leave/leave-administration/fact-sheets/leave-year-beginning-and-ending-dates/ Mistake No 2: Paying More Income Taxes Unexpectedly If you’ve saved a lot of Annual Leave, you’re likely to get a pretty big check. That income is taxable, and it’s added to all your other earnings that year. This might cause you an unexpected and expensive tax bill. Consult with your tax professional. Mistake No 3: Losing TSP Monies to Penalties A lot people plan to use money from their TSP when they retire. But they aren’t too clear about age restrictions before they pick their retirement date. Normally, you must be at least 59 ½ year old to take monies out of your retirement savings account (like TSP or IRA). If you’re younger than that, you could have to pay an early age withdrawal penalty. There’s an exception for your TSP. If you separate from service in the year in which you turn 55 years or older, you can take withdrawals from TSP without any early age penalty. Here’s the TSP link to learn more: https://www.tsp.gov/PDF/formspubs/tsp-536.pdf Mistake No 4: Thinking that FERS starts Right Away Be prepared to wait because OPM’s retirement application processing time can vary quite a bit. The backlog can cause you to wait for an extended period. It can be a big mistake to retire without enough savings to take care of expenses. Keep in mind that TSP can take 4-6 weeks after you retire before you can request payments. It makes good financial sense to start retirement with at least four to six months of expenses in a saving account. Remember these tips when you’re picking your retirement date! If you’ll have “use or lose” leave, check the leave date calendar so that you don’t risk losing that extra leave! Talk with your tax professional about your tax planning. Decide how and when you’ll access your TSP funds. And, finally have enough saved up to wait while OPM processes your retirement application! To get a Pick Your Retirement Date Like A Pro Checklist, visit: https://www.fersblueprint.com/p/checklist This tutorial was brought to you by the FERS Blueprint—Online FERS Retirement Training. Learn more https://fersblueprint.com for more information. FERS Blueprint is an educational division of The Monroe Team, Inc. DUNS Number: 032 057260. CAGE Code: 735L3. NAICS Code: 611710 Educational Support Services. Woman-owned, small business. FERS Blueprint is not affiliated with, endorsed or sponsored by the Federal Government or any US Government agency. FERS Blueprint is educational only. No specific financial, retirement nor tax advice is being offered. The material presented is as current as possible, but is necessarily generalized. Facts and opinions are based on research and experience, but are not endorsed by the Federal Government. It is recommended to consult with your personnel office and/or the Office of Personnel Management (OPM) Retirement Office, Thrift Savings Plan, Social Security, Medicare, Internal Revenue Service, your legal, tax and/or other advisor(s). © 2017. The Monroe Team, Inc.
Contractor Pensions
 
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http://www.tarpon-uk.com/ 0845 643 1580 [email protected] Contractor Pensions What is a pension? A pension is a long-term investment to provide a source of regular income when you retire. Contributions are made into a pension fund while you are working which will then give you regular payments once you have retired based on the amount you have contributed. A pension is one of the most cost effective ways of saving for retirement as the government gives you tax relief on contributions made. For example, a basic rate taxpayer can contribute £78 to their pension scheme; this is then "topped up" by the tax man meaning you actually have £100 contributed to your fund. Less than half of people are currently saving enough for when they retire and nearly a quarter of people are not saving at all. When you retire, you'll still have bills to pay and will also want a regular income so that you can enjoy and make the most of your retirement years. Why do I need one? A lot of people may think that retirement is a long way off for them, and so put off setting up a pension fund. But people are living longer meaning your retirement years could equal a third of your life, so the earlier you begin making contributions to a pension fund the better. The State Pension gives a basic income when you retire, but it is wise to set up a private pension as well so that you can live the lifestyle you want. Types of pensions • The Basic State Pension How much you get will depend on how much you have paid in National Insurance Contributions during your working life. • The Additional State Pension Depending on your individual circumstances, you may be entitled to additional State Pension. • Occupational Pension This is an arrangement that an employer may make to provide its employees with a pension when they retire. These are also known as work or company pensions. Most employers who run these schemes make contributions to the pension on top of the employee's contribution. • Stakeholder Pension This is an individual pension. The money you contribute is invested and can be moved to wherever you are working. There are a number of government requirements -- low minimum investments, capped fees and flexibility. • Personal Pension This is an individual pension which is likely to have higher minimum investments and fees than a stakeholder pension, but there will often be greater investment choice and flexibility. • Self Invested Personal Pension A Self Invested Personal Pension (SIPP) can allow you to take a much more active role in the investment of your pension pot. You may be able to choose from a range of fund managers and you could invest directly in property. You should always seek financial advice before making any decisions about how to invest for your pension. Employee benefits, contractor expenses, employment status, contractor tax, employment benefits, employee payroll, ltd co set up, ,simply names, set up ltd co, contractor payroll, umbrella service, umbrella co, HMRC contractor, HMRC umbrella, HMRC employed, Salary sacrifice, freelance work, freelance payroll, contractor mortgage, contractor pension, Contracting, payroll, Umbrella Payroll, IR35, advice, compliant, compliance, PAYE, employee management company, dispensation, Saving money in contracting, Consultant Technologies, IR35 solutions, Benefits of being a contractor, Contractor payments, good net pay in contracting. umbrella company tarpon payroll tarponltd ltd paye advice salary pay tax employee benefits agency contractor contracting
Views: 2538 TarponLtd
New employers - the basics
 
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New employer - an introduction to PAYE and how to get started. For the latest HMRC video updates please subscribe to HMRC's YouTube channel and visit our Employer page at www.gov.uk for further HMRC help. Links to specific sections in the video: payroll deductions: https://goo.gl/YQIbAz starter checklist: https://goo.gl/vgWuCZ basic PAYE tools: https://goo.gl/QH1f0E free payroll software: https://goo.gl/l4oXzo HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. Why not ask a question or share your experiences on HMRC’s Small Business Forum? You can find it here: https://online.hmrc.gov.uk/webchatprod/community/forums/list.page Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ • LinkedIn: https://www.linkedin.com/company/hm-revenue-&-customs For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 18741 HMRCgovuk
Will I have to pay income tax on my disability benefits?
 
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Will I have to pay income tax on my disability benefits? | Touby, Chait & Sicking, PL | Dedicated to Workers’ Rights in Florida | 305-442-2318 | http://www.fortheworkers.com/ | 2030 S. Douglas Road, Suite 217, Coral Gables, Florida 33134 | Worker's compensation disability benefits are income tax free under Section 104 of the Internal Revenue Code. Disability benefits paid for in line of duty injury for public employment are similarly tax exempt, however, disability benefits for private employee pensions are taxable. The reason has to do with a complicated provision in the tax code.
Sage 50 Payroll (UK) - Update your employees' tax codes
 
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Use global changes to update your employees' tax codes for the 2018/2019 tax year.
What Should Your Tax Code Be?
 
00:45
What is my tax code? (your top five questions answered) ird. Understanding your tax code taxaid. How do i check my coding notices? . If you are your tax code checks should carry out. On a 1100l cumulative code, the tax you pay on your main job should be correct, so long as earn at least 11,000 in job, or, if less than 4 dec 2015 need to complete code declaration (ir330) form and give it employer when first start employment 31 mar 2017 once know what take determines how much money have hand back this point put t preceded by figure showing level 5 apr 2016 hmrc normally send out paye coding notice is below 43k, then are paying too able 14 aug 2010 for someone aged 65, that 6,475. Tax codes the basics brightpay documentation. Tax codes free tax calculator to check yours mse. Tax codes for 2016 17 how to check your tax code telegraph. The pay as you earn (paye) system citizens advicemytax. Tax codes free tax calculator to check yours mse moneysavingexpert code url? Q webcache. Tax codes free tax calculator to check yours mseunderstanding your code for 2017 18 think money. However, a code of br (with no numbers) may also be used if you've started new job, don't have p45 form and haven't completed p46 before your first pay day what tax codes are, how they're worked out, to do you think is wrong 24 mar 2017 for any jobs other than main job will. Decoding your tax code royal london. How to check you're on the right uk tax code for 2017 18. For example, if you qualify for a basic personal allowance of 11,500, should be put on the standard tax code 1150l. Work out your tax code (tax rates and codes) ird. Hmrc tax codes how they affect your take home pay it contracting. Low incomes tax reform group. It's automatically deducted so that you don't. Your tax code checks you should carry out help for older understand your which? Tax codes explained inniaccounts. Hmrc's coding notice will say 'your personal allowances' and give a figure. This means that you'll pay income tax at 20. Googleusercontent search. Although the system sounds pretty simple, things can go wrong so it is very important that you check your paye hmrc gives employer or pension provider a tax code to show how much free pay should get each time paid deducted from if does not know what be, will be taxed on an 'emergency' of 1150l (1100l in 2016 17) given br always make sure correct amount and are emergency then this 1060l ask incorrect, could paying we aim explain have paid, makes appropriate adjustment 6 apr 2017 however, some form notification there any change payment, for example, 10 aug assign inform (often own company) help them calculate used by do code, receive coding notice uses tell claim refund writing office letter (or letters) tells deduct income over year.
Views: 76 Question Bag
Having problems signing in to send your tax return online?
 
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An HMRC video explaining what to do if you have problems signing in to send your online tax return. HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. Why not ask a question or share your experiences on HMRC’s Small Business Forum? You can find it here: https://online.hmrc.gov.uk/webchatprod/community/forums/list.page Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ • LinkedIn: https://www.linkedin.com/company/hm-revenue-&-customs For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 15510 HMRCgovuk
ऐसे भरे ITR 2018-19, Pay Commission Arrear Tax Refund, ज्यादा से ज्यादा, Income Tax return
 
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How to file income tax return for AY 2018-19 FY 2017-18 if u want me to fill ur itr then mail me ur documents at [email protected]
Views: 18562 SARKARI AADMI
HMRC - Help with Online Security
 
01:12
An HMRC video outlining the security arrangements for it's online services. HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. Why not ask a question or share your experiences on HMRC’s Small Business Forum? You can find it here: https://online.hmrc.gov.uk/webchatprod/community/forums/list.page Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ • LinkedIn: https://www.linkedin.com/company/hm-revenue-&-customs For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 12759 HMRCgovuk
Budgeting for your Self Assessment Tax Bill
 
02:17
One of a series of short videos to help you with HMRC Self Assessment. This one is about budgeting for your tax bill. HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. Why not ask a question or share your experiences on HMRC’s Small Business Forum? You can find it here: https://online.hmrc.gov.uk/webchatprod/community/forums/list.page Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ • LinkedIn: https://www.linkedin.com/company/hm-revenue-&-customs For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 12401 HMRCgovuk
7th Pay Important Service/Pension Rules for Employees & Pensioners #FRSR  #Service Rules
 
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#FRSR for Central Government Employees and Pensioners. Important Service Rules and Fundamental Rules for Employees and Pensioners. #Leave Rules, #Pension Rules, #7thcpc news @@@@@यदि वीडियो लाभदायक रहता है तो कृपया और वीडियो के लिए Like, Share और सब्सक्राइब करना ना भूलें@@@@@ Follow us on: YouTube: https://www.youtube.com/c/GovtEmployeesNews Website: http://www.govtemployeesnews.com/ Facebook: https://www.facebook.com/GovtEmployeesNews/ Twitter: https://twitter.com/GovtEmpNews Google+: https://plus.google.com/+GovtEmployeesNews1 Blogger: https://govtemployeesnews1.blogspot.com/ Email: [email protected] Our Playlists You can watch your Category Videos……… ****** Defence Employees News********* https://www.youtube.com/playlist?list=PLnQ5z9CDty1RAWk4M83kXbU3S8PSn8rON *********Central Govt. Civil Employees Cornder********** https://www.youtube.com/playlist?list=PLnQ5z9CDty1Q0ehd8kRH8YgyFw4AqQXQj *********GDS (Gramin Dak Sevak) Latest News*********** https://www.youtube.com/playlist?list=PLnQ5z9CDty1Rrxh5MjW8zPw30mKUQZWbT **********Pensioners News************** https://www.youtube.com/playlist?list=PLnQ5z9CDty1SGD4x_xGo3fKNLx8mrcy-Y **********Railway Employees News******* https://www.youtube.com/playlist?list=PLnQ5z9CDty1Sj2Sc4oErUVKBeEuOeF9G6 7th pay commission latest news, seventh pay commission latest news, 7thcpc news, 7thcpc latest news today, 7th pay commission latest news today, pcda pension, pensioners latest news, defence pension latest news, central government employees latest news, govt employees news, govt pensioners news, family pensioners news, defence pension, 7th pay commission army latest, army pension 2017, pay rules 2017, pay matrix, defence pay matrix, sainik welfare, latest pension plan, cg staff latest news, civilian pensioners latest news, best saving plan, today headlines for government employees, seventh pay commission allowance, travelling allowance, daily da and ta for govt employees, how to, hindi news today, defence pensioners today news, gramin dak sevak, gds news, gds latest news, gds pay matrix, gds result 2017, gramin dak sevak result 2017, gramin dak sevak new salary, gds revised allowances, gds leave rules, govt employees leave rules, dopt latest order, government latest order, Railway Employees News, railway pensioners latest news, indian railway latest updates, railway employees allowances, railway employees leave rules. CGHS, Central Government Health Scheme, New Pension Scheme, National Pension System, National Pension Scheme, New Pension System. Retirement Age, Indian Railway News, Railway Employees News, Railway Pensioners News. Compassionate Appointment Guidelines and Procedure. House Rent Allowance, HRA, Income Tax Rules, HRA for Central Government Employees. 7th Central Pay Commission, Central Civil Pensioners, MoD Orders. To buy the Important Books for a Govt. Employee please click on the link given below: Swamy Handbook 2017 (English) http://amzn.to/2onmwnk Swamy Handbook 2017 (Hindi) http://amzn.to/2on6R7v Revised pay rules handbook http://amzn.to/2pgldLm Swamy’s TA Rules made easy http://amzn.to/2pC4pOG Disclaimer: Objective of this Channel is to provide real time information for Govt Employees and Pensioners. Each and every efforts are made to keep the content of this Channel correct and up-to-date. But, this Channel does not make any claim regarding the correctness of information provided in the Videos. The contents of this Channel cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this Channel will not be liable in any manner whatsoever for such loss or damage. The Channel will endeavor to edit/delete any material which is considered offensive, undesirable and or impinging on national security. Users are advised to verify/check any information with the relevant departments(s) and/or other source(s), and to obtain any appropriate professional advice before acting on the information provided in the Channel. By: Govt Employees News
Views: 9890 Govt Employees News
7th Pay Commission लाखों Pensioners को 31 July तक New Pension & Arrears Payment CPAO latest Orders
 
05:44
#pension, #7thpaypension, #pensionstatus, #govtemployeesnews, 7th pay commission pension latest news today. Pensioners and Family Pensioners latest news today. 7th pay commission pension status. @@@@@यदि वीडियो लाभदायक रहता है तो कृपया और वीडियो के लिए Like, Share और सब्सक्राइब करना ना भूलें@@@@@ Follow us on: YouTube: https://www.youtube.com/c/GovtEmployeesNews Website: http://www.govtemployeesnews.com/ Facebook: https://www.facebook.com/GovtEmployeesNews/ Twitter: https://twitter.com/GovtEmpNews Google+: https://plus.google.com/+GovtEmployeesNews1 Blogger: https://govtemployeesnews1.blogspot.com/ Email: [email protected] Our Playlists You can watch your Category Videos……… ****** Defence Employees News********* https://www.youtube.com/playlist?list=PLnQ5z9CDty1RAWk4M83kXbU3S8PSn8rON *********Central Govt. Civil Employees Cornder********** https://www.youtube.com/playlist?list=PLnQ5z9CDty1Q0ehd8kRH8YgyFw4AqQXQj *********GDS (Gramin Dak Sevak) Latest News*********** https://www.youtube.com/playlist?list=PLnQ5z9CDty1Rrxh5MjW8zPw30mKUQZWbT **********Pensioners News************** https://www.youtube.com/playlist?list=PLnQ5z9CDty1SGD4x_xGo3fKNLx8mrcy-Y **********Railway Employees News******* https://www.youtube.com/playlist?list=PLnQ5z9CDty1Sj2Sc4oErUVKBeEuOeF9G6 7th pay commission latest news, seventh pay commission latest news, 7thcpc news, 7thcpc latest news today, 7th pay commission latest news today, pcda pension, pensioners latest news, defence pension latest news, central government employees latest news, govt employees news, govt pensioners news, family pensioners news, defence pension, 7th pay commission army latest, army pension 2017, pay rules 2017, pay matrix, defence pay matrix, sainik welfare, latest pension plan, cg staff latest news, civilian pensioners latest news, best saving plan, today headlines for government employees, seventh pay commission allowance, travelling allowance, daily da and ta for govt employees, how to, hindi news today, defence pensioners today news, gramin dak sevak, gds news, gds latest news, gds pay matrix, gds result 2017, gramin dak sevak result 2017, gramin dak sevak new salary, gds revised allowances, gds leave rules, govt employees leave rules, dopt latest order, government latest order, Railway Employees News, railway pensioners latest news, indian railway latest updates, railway employees allowances, railway employees leave rules. CGHS, Central Government Health Scheme, New Pension Scheme, National Pension System, National Pension Scheme, New Pension System. Retirement Age, Indian Railway News, Railway Employees News, Railway Pensioners News. Compassionate Appointment Guidelines and Procedure. House Rent Allowance, HRA, Income Tax Rules, HRA for Central Government Employees. 7th Central Pay Commission, Central Civil Pensioners, MoD Orders. To buy the Important Books for a Govt. Employee please click on the link given below: Swamy Handbook 2017 (English) http://amzn.to/2onmwnk Swamy Handbook 2017 (Hindi) http://amzn.to/2on6R7v Revised pay rules handbook http://amzn.to/2pgldLm Swamy’s TA Rules made easy http://amzn.to/2pC4pOG Disclaimer: Objective of this Channel is to provide real time information for Govt Employees and Pensioners. Each and every efforts are made to keep the content of this Channel correct and up-to-date. But, this Channel does not make any claim regarding the correctness of information provided in the Videos. The contents of this Channel cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this Channel will not be liable in any manner whatsoever for such loss or damage. The Channel will endeavor to edit/delete any material which is considered offensive, undesirable and or impinging on national security. Users are advised to verify/check any information with the relevant departments(s) and/or other source(s), and to obtain any appropriate professional advice before acting on the information provided in the Channel. By: Govt Employees News
Views: 225736 Govt Employees News
3 Reasons Why You Should Not Pay Your Debt
 
01:13
Paying off an old collection or charge off will increase your credit score. This is a huge MYTH! Effects of Paying When you pay an older collection account or charge-off account, your credit score most likely will suffer. Think twice before paying off an old collection or charge off. By paying your debt, it renews the date of last activity. The collection company or creditors can now report the account for another 7 years. Everyone knows debt collections are bad for your credit score. Any past due accounts including debt collections have negative effects. These accounts report on your credit report for up to7 years. As accounts age, they have less and less impact on your credit score. Many consumers believe by paying off collections or charge-off accounts, that it will raise their credit scores. It certainly seems logical; however it is far from the truth. If you are concerned about your credit score, paying off debts prior to obtaining any other type of loan or mortgage can greatly hurt your credit score. Ultimately, if it is an older account when paid off (or payments are made on the account), by doing so can be devastating to ones credit score. The recent activity of any derogatory item has a big impact on how it effects your overall credit score. Is the Debt Still Valid? After a certain period of inactivity on an account, a debt becomes time-barred and debt collectors can no longer sue you for it. This period is known as "the statute of limitations on debt" and varies by state. If the statute of limitations has passed, it is illegal for a debt collector or creditor to sue you. You need to be careful in communicating with a debt collector because the debt statute of limitations can easily be restarted by acknowledging that you owe the debt, making a payment, entering a payment plan, making an agreement to pay or making a charge on the account. After 7 Years Collection and charge-off accounts should only remain on your credit report for 7 years. It is important to check your credit reports as the credit bureaus often continue reporting these derogatory accounts over the 7 year limit. If you have any questions regarding collection accounts on your credit reports, call our office today for your complimentary credit consultation. We look forward to hearing from you. 480-502-5554 LEGAL DISCLAIMER: The advice provided is for informational purposes only. It is not to be construed as Legal Counsel or Legal Advice.
Views: 407929 911creditpros
Self-Directed Solo 401k Pension Plan
 
35:58
Truly self-directed Solo 401k plan is the most powerful retirement savings vehicle allowing plan participants to shelter from taxes significant portions of their self-employed earnings. Not only that is gives you the power to invest into virtually anything: real estate, private lending, tax liens and tax deeds, private business, precious metals, trust deeds, and more... The participant loan loan feature gives you the ability to access your retirement funds tax-free and penalties-free even before you retire! And because the rules enable plan holders to buy investment property with use of leverage not being subject to Unrelated Business Income Tax (UBIT) it make it superior to self-directed IRA. Custodian is not required with truly self-directed Solo 401k, plan assets are held in a trust and you have total and direct control over it as plan administrator. To learn more about the Solo 401k please visit our website and request complimentary consultation with one of our retirement account experts: http://www.sensefinancial.com/
Views: 10257 SenseFinancial.com
Are IRA Distributions Taxable In New York State?
 
00:46
Taxes on ira withdrawals which state's tax laws apply when i live in new york. New york tax iras? The motley fool does new fool knowledge iras. Decedent had not taken any distributions from the ira or pension at time of dec 24, 1998 new york state department taxation and finance. Distribution election new york state teachers' retirement. Wages are taxed at abstract taxation of pension plan distributions and individual retirement accounts (ira) in new york state city is complicated. Received in periodic payments (except ira or keogh)however, foreign pension distributions are not typically reported on new york state, local governments and federal government full exclusion section 114 of title 4 the u. How to inherit joint tenancy property in new york conversion means that what would be a taxable traditional ira distribution can made into plan of state or local government (section 457 plan), or; An nys pension and annuity exclusion. Ira beneficiaries who live in new york state get the same tax break on th e amount of distribution from ira account is added to your other taxable income plus ny rate 6. Also include distributions received from a new york state or local pension plan periodic and lump sum payments an ira, but not derived this option is most similar to you receiving paycheck employer your withdrawals are taxed as ordinary income. This includes distributions from iras. Took an early distribution (im 42) from. Googleusercontent search. As a result, ira distributions up to certain amount don't get taxed for new york state income tax purposes jan 4, 2017 are my social security benefits taxable by state? Account (ira) contributions deduction on return? Do i have pay taxes pension from state, local when taxpayer completes return, an opportunity exclude of and annuity is provided. Ira payouts may avoid state income tax wsj. The state of new york has a income tax, but residents benefit from an exemption on some their retirement that offers more favorable tax treatment than federal law. Roth iras how they work and to use them new york 403(b) field guide 2015 edition nysut member benefits. Code creates a limitation on state income taxation of certain pensions new york state, local governments, and the federal government. Tsb m 98(7)i 12 98 new york tax treatment of roth iras,tsbm987i. Does new york tax iras? The motley fool. However, the guidelines clearly state that exclusion is not to exceed 'regardless of source(s) income. Taxpayer services if a roth ira distribution is subject to federal tax because it was not jul 7, 2013 withdrawals from individual retirement accounts may avoid state income new york exempts taxation the first of plan you will pay $366 taxes on your pre are partially taxed. Aspx url? Q webcache. Distributions from an individual retirement account, deferred compensation non spouse beneficiaries cannot contribute to inherited ira and roll over, but if jay withdraws the immediately, it will count as taxable income him, $100k in
Views: 164 new sparky
Taking on a New Employee without a P45
 
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A short HMRC video explaining the procedures for taking on new employees who don't have a P45. This video was developed through collaboration with employers. Helpful Links: https://www.gov.uk/new-employee https://www.gov.uk/government/publications/paye-starter-checklist https://www.gov.uk/new-employee-tax-code/y/you-don-t-have-their-p45 HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ • LinkedIn: https://www.linkedin.com/company/hm-revenue-&-customs For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 25632 HMRCgovuk
P2 Tax Notice
 
01:40
An HMRC guide to help you understand your P2 tax notice, what it means and what you need to do if you're received one. HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ • LinkedIn: https://www.linkedin.com/company/hm-revenue-&-customs For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 6856 HMRCgovuk
eTax.com Form 1099-R Distribution
 
01:40
http://www.etax.com If you've received retirement payments throughout the year from your pension, annuity, IRA or similar type of plan, you'll receive a Form 1099-R as a report of the fund distribution. After an employee retires or becomes disabled, he or she can begin receiving pension and annuity distributions. If the employee made contributions after-tax, only a portion of the retirement payments are subject to tax. On the other hand, contributions made pre-tax are normally entirely included in taxable income when distributed. When a taxpayer choses to redirect retirement funds from one account to another without paying the taxes, they are performing a rollover. Form 1099-R will specify any direct rollovers in box 7 with either G or H codes. Any payments received prior to the taxpayer turning 59 ½ years of age are considered early distribution, and are subject to additional taxes. The government instills a 10% tax on early distributions in an effort to stray people away from using their retirement funds for other purposes. In addition to the federal government, early distributions may be subject to state penalties. There are a few exceptions which may alter the installation of this 10% tax to the entire distribution amount. Some of these exceptions are: death, disability, medical expenses greater than 10% of your AGI, and an IRS levy.
Views: 2779 eTax.com
Pay Matrix for level 1 to 5 As per 7th Pay Commission_जानिए 1800 से 2800 ग्रेड पे का नया लेवल
 
06:07
जानिए कितना होगा आपका नया बेसिक सैलरी और लेवल सातवें वेतन आयोग के अनुसार। Follow us on: YouTube: https://www.youtube.com/channel/UCAI54EfWq7x4bknabgtUK9g Facebook: https://www.facebook.com/JorwalAcademy1 Twitter: https://twitter.com/JorwalAcademy Google+: https://plus.google.com/u/0/114388772912634119419 Blogger: http://jorwalacademy.blogspot.in/ ****** Defence Employees News********* https://www.youtube.com/playlist?list=PLnQ5z9CDty1RAWk4M83kXbU3S8PSn8rON *********Central Govt. Civil Employees Cornder********** https://www.youtube.com/playlist?list=PLnQ5z9CDty1Q0ehd8kRH8YgyFw4AqQXQj Understand the pay matrix for level 1 to 5 as per 7th Pay Commission. How pay will be fixed on joining, annual increment and on promotion. Know your entry pay as per 7th pay commission. To buy the Important Books for a Govt. Employee please click on the link given below: Swamy Handbook 2017 (English) http://amzn.to/2onmwnk Swamy Handbook 2017 (Hindi) http://amzn.to/2on6R7v Revised pay rules handbook http://amzn.to/2pgldLm Swamy’s TA Rules made easy http://amzn.to/2pC4pOG Swamy’s Compilation of Fundamental and Supplementary Rules FRSR Part 1 – General Rules http://amzn.to/2pMPIrP Swamy’s Compilation of Fundamental and Supplementary Rules FRSR Part –II Travelling Rules http://amzn.to/2pm60Io Swamy’s Compilation of NPS http://amzn.to/2oxFwPC Swamy’s Pension Rules Made Easy http://amzn.to/2oxTX5T
Views: 618473 Govt Employees News
GDS New Level & Salary in 7th Pay, GDS Pay Fixation in Revised Pay Scale #Know your New Level
 
07:10
GDS New Level and Salary as per 7th pay commission. How to calculate GDS New salary and level. @@@@@यदि वीडियो लाभदायक रहता है तो कृपया और वीडियो के लिए Like, Share और सब्सक्राइब करना ना भूलें@@@@@ Follow us on: Join on WhatsApp: https://chat.whatsapp.com/HvIPYpHBJdsIvetnDGQQel YouTube: https://www.youtube.com/c/GovtEmployeesNews Website: http://www.govtemployeesnews.com/ Facebook: https://www.facebook.com/GovtEmployeesNews/ Twitter: https://twitter.com/GovtEmpNews Google+: https://plus.google.com/+GovtEmployeesNews1 Blogger: https://govtemployeesnews1.blogspot.com/ Email: [email protected] Our Playlists You can watch your Category Videos……… ****** Defence Employees News********* https://www.youtube.com/playlist?list=PLnQ5z9CDty1RAWk4M83kXbU3S8PSn8rON *********Central Govt. Civil Employees Cornder********** https://www.youtube.com/playlist?list=PLnQ5z9CDty1Q0ehd8kRH8YgyFw4AqQXQj *********GDS (Gramin Dak Sevak) Latest News*********** https://www.youtube.com/playlist?list=PLnQ5z9CDty1Rrxh5MjW8zPw30mKUQZWbT **********Pensioners News************** https://www.youtube.com/playlist?list=PLnQ5z9CDty1SGD4x_xGo3fKNLx8mrcy-Y **********Railway Employees News******* https://www.youtube.com/playlist?list=PLnQ5z9CDty1Sj2Sc4oErUVKBeEuOeF9G6 7th pay commission latest news, seventh pay commission latest news, 7thcpc news, 7thcpc latest news today, 7th pay commission latest news today, pcda pension, pensioners latest news, defence pension latest news, central government employees latest news, govt employees news, govt pensioners news, family pensioners news, defence pension, 7th pay commission army latest, army pension 2017, pay rules 2017, pay matrix, defence pay matrix, sainik welfare, latest pension plan, cg staff latest news, civilian pensioners latest news, best saving plan, today headlines for government employees, seventh pay commission allowance, travelling allowance, daily da and ta for govt employees, how to, hindi news today, defence pensioners today news, gramin dak sevak, gds news, gds latest news, gds pay matrix, gds result 2017, gramin dak sevak result 2017, gramin dak sevak new salary, gds revised allowances, gds leave rules, govt employees leave rules, dopt latest order, government latest order, Railway Employees News, railway pensioners latest news, indian railway latest updates, railway employees allowances, railway employees leave rules. CGHS, Central Government Health Scheme, New Pension Scheme, National Pension System, National Pension Scheme, New Pension System. Retirement Age, Indian Railway News, Railway Employees News, Railway Pensioners News. Compassionate Appointment Guidelines and Procedure. House Rent Allowance, HRA, Income Tax Rules, HRA for Central Government Employees. 7th Central Pay Commission, Central Civil Pensioners, MoD Orders. To buy the Important Books for a Govt. Employee please click on the link given below: Swamy Handbook 2017 (English) http://amzn.to/2onmwnk Swamy Handbook 2017 (Hindi) http://amzn.to/2on6R7v Revised pay rules handbook http://amzn.to/2pgldLm Swamy’s TA Rules made easy http://amzn.to/2pC4pOG Disclaimer: Objective of this Channel is to provide real time information for Govt Employees and Pensioners. Each and every efforts are made to keep the content of this Channel correct and up-to-date. But, this Channel does not make any claim regarding the correctness of information provided in the Videos. The contents of this Channel cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this Channel will not be liable in any manner whatsoever for such loss or damage. The Channel will endeavor to edit/delete any material which is considered offensive, undesirable and or impinging on national security. Users are advised to verify/check any information with the relevant departments(s) and/or other source(s), and to obtain any appropriate professional advice before acting on the information provided in the Channel. By: Govt Employees News
Views: 104605 Govt Employees News
paye calculator
 
01:16
Click here to join my bestselling udemy course for FREE https://www.udemy.com/entrepreneurs-entrepreneurship-tips-tricks-and-more/?couponCode=YOUTUBE%28FREE%29 paye calculator Watch my video paye calculator and learn how to calculate your Tax free allowance, Total taxable income, Tax due, National Insurance, Total Deductions, Net Wage, Employers NI, Net change since last year. UK PAYE calculator This is the calculator for 2014/15 Fill in the following fields: Salary calculator; Enter gross wage; Click calculate tax. Year Married Blind I pay no NI Include student loan repayment Age Any Allowances/ -Deductions Tax code (optional) Pension Contribution (% or amount) Childcare Vouchers per Gross wage is paye calculator Income tax[edit] UK income tax and National Insurance charges (2010-11)[dated info]. UK income tax and National Insurance as a percentage of taxable pay (2010-11)[dated info]. Income tax is the single largest source of government revenue, making up about 30% of the total, followed by National Insurance contributions at around 20%.[16] Each person has an income tax personal allowance, and income up to this amount in each tax year is free of tax. For the 2014/15 tax year, the tax-free allowance for under-65s with income less than £100,000 is £10,000.[17] Any income above the personal allowance is taxed using a number of bands: 2014/15 Rate Dividend income Savings income Employment and other income Income bracket (above tax-free allowance) Starting rate - 10% - £0 - £2,880 Basic rate 10% 20% 20% £0 - £31,865 Higher rate 32.5% 40% 40% £31,866- £150,000 Additional rate 37.5% 45% 45% Over £150,000 For every £2 earned above £100,000, £1 of the personal allowance is lost. This means for incomes between £100,001 and £120,000 the marginal income tax rate is 60%.[20] The taxpayer's income is assessed for tax according to a prescribed order, with income from employment using up the personal allowance and being taxed first, followed by savings income (from interest or otherwise unearned) and then dividends. Contact: Christos Pittis website: www.christospittis.com https://www.udemy.com/u/christospittis/ twitter: https://twitter.com/CPITTIS facebook page: https://www.facebook.com/christoscpittis email: [email protected] https://www.udemy.com/u/christospittis/ YouTube: https://www.youtube.com/channel/UClqulZeiMIfgPv_LirylA0g/videos
Registering for Self Assessment
 
03:17
This video explains how to register your new business online with HM Revenue & Customs so that you can complete a Self-Assessment tax return. HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. The HMRC Online Customer Forum allows you to ask questions, see what others are asking and get the answers and top tips on a range of topics including VAT, self-employment, Self Assessment or being an employer. You can find it here: https://online.hmrc.gov.uk/webchatpro... For more information on starting your own business, why not try our online guide. You can find it here: http://www.hmrc.gov.uk/courses/SYOB3/syob_3/html/syob_3_menu.html Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ • LinkedIn: https://www.linkedin.com/company/hm-r... For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 13323 HMRCgovuk
How to File Income Tax Return for in Pakistan ? (Step by Step for Salaried Person)
 
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Return Filing Tutorial for Citizens of Pakistan. FBR has introduced IRIS, a system, for filing income tax returns and wealth statement online. It is quite easy to file your wealth statement and return online and become a filer. This video will answer following questions. How to file your income tax return How to submit your income tax return how to prepare your annual return how to submit return in iris how to file return in fbr manua return how to claim refund how to adjust tax in return ================================================ Who needs to file the income tax returns? ========================================== Following Persons are required to file return as per law in Pakistan Every company Every person (other than a company) whose taxable income for the year exceeds Rs400,000 Every non-profit organization as defined in clause (36) of section 2 Every welfare institution approved under clause (58) of Part I of the Second Schedule Every person who has been charged to tax in respect of any of the two preceding tax years Every person who claims a loss carried forward under this Ordinance for a tax year Every person who owns immovable property with a land area of two hundred and fifty square yards or more or owns any flat located in areas falling within the municipal limits existing immediately before the commencement of Local Government laws in the provinces; or areas in a Cantonment; or the Islamabad Capital Territory Every person who owns immovable property with a land area of five hundred square yards or more located in a rating area Every person who owns a flat having covered area of two thousand square feet or more located in a rating area Every person who owns a motor vehicle having engine capacity above 1000 CC Every person who has obtained National Tax Number Every person who is the holder of commercial or industrial connection of electricity where the amount of annual bill exceeds Rs500,000 Every person who is registered with any chamber of commerce and industry or any trade or business association or any market committee or any professional body including Pakistan Engineering Council, Pakistan Medical and Dental Council, Pakistan Bar Council or any Provincial Bar Council, Institute of Chartered Accountants of Pakistan or Institute of Cost and Management Accountants of Pakistan Every individual whose income under the head Business exceeds Rs300,000 but does not exceed Rs400,000 in a tax year. ====================================================== ++++++++++++++++++++++++++++++++++++++++++++++++++++ ====================================================== Please make sure that all necessary information is given before filing return otherwise, it may be declared invalid return.
Views: 52107 LACE for CSS/PMS
ICR125: 5 Important Tax Breaks You Might Be Missing
 
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In this episode of Informed Choice Radio, Martin talks about five important tax breaks you might be missing. There is also a roundup of the latest personal finance news and an update from the world of Informed Choice. 5 important tax breaks you might be missing The UK has the longest tax code handbook in the world, containing more than 17,000 pages. This results in a wasteful tax system. This year, our collective national tax waste was calculated by unbiased.co.uk to be £4.6bn. In this episode, Martin talks about five important tax breaks you might be missing. 1 – Marriage tax allowance This was introduced last April and is worth £220 this tax year. Despite 4.2m married couples and civil partnerships in the UK being eligible for this tax break, HMRC say only 1m couples have done so. Marriage tax allowance allows one partner to transfer part of their tax-free income tax personal allowance to the other partner. One of the partners must earn less than £11,000, the level of the personal allowance, and the other has to be paying income tax at the basic rate. It takes less than five minutes to apply online for marriage tax allowance and you can backdate the claim to the previous tax year. Claim online at https://www.gov.uk/marriage-allowance/how-it-works 2 – Tax relief on pension contributions Every single year, thousands of people who pay their income tax through the self-assessment system fail to claim the full income tax relief to which they are entitled on the contributions made to personal pensions. When you make a personal pension contribution, basic rate income tax relief is automatically added to your pension pot. But if you’re a higher or additional rate taxpayer, you need to claim the difference through the self-assessment process or by contacting HMRC. HMRC will allow you to claim the extra tax relief for the last four tax years, so if you’ve forgotten to claim or didn’t realise you could, get on the phone to the taxman and ask for your money back! 3 – Not using tax efficient savings and investments Last year, £1.2bn of income tax was wasted by people not using their cash ISA allowances. £104m in capital gains tax was wasted by investors not using their stocks and shares ISA allowances. Adults have an ISA allowance of £15,240 in the current tax year, rising to £20,000 next April. With the introduction of the Personal Savings Allowance, Martin explains in this episode why the cash ISA might not be as important as before, but over time it can still be worth using your ISA allowance each and every tax year. 4 – Failing to reduce capital gains tax We each get a capital gains tax allowance, which is £11,100 in the 2016/17 tax year. So profits on the sale of investment assets realised up to that amount are free of capital gains tax. One of the biggest mistakes we see people make with capital gains tax is failing to use their annual allowance and their partner’s annual allowance. Husbands and wives, or civil partners, can effectively combine the £11,100 annual allowance to realise up to £22,200 of capital gains in this tax year. Martin explains how this works. 5 – Paying too much inheritance tax Inheritance tax is paid at 40% on the value of your taxable estate above the level of your nil rate band, which is £325,000 at the moment. The nil-rate band is due to be higher in the future with the introduction of an additional nil-rate band when a residence is passed on death to a direct descendant. This will be £100,000 in 2017 to 2018, rising in stages to £175,000 in 2020 to 2021. But despite the availability of the nil rate band, we still waste millions each year in unnecessary inheritance tax payments. Last year, that figure for the UK was a total of £550m. We’re wasting this money because we fail to plan. Personal finance news update -Government plans to allow pensioners to sell their pension annuities back to insurance companies have been abandoned. -Price inflation rose sharply in the year to September, according to the latest official figures. -House prices have continued to rise strongly following the EU referendum in June, with rise in eastern and southern England driving prices higher. -Nearly two-thirds of Brits always splurge when buying teabags while more than three-quarters scrimp on frozen foods and cleaning products. -New research from American Express has found the half term holiday will cost parents £276 per child, equating to £552 for the average family with two children. Help us spread the word! Thank you for listening to this episode of Informed Choice Radio. Please use the comments section below to share any feedback you have. If you enjoyed this episode, please share it by using the social media buttons on this page. If you enjoy the show, please subscribe in iTunes and write us a review!...
Views: 100 Informed Choice
Sage 50 Payroll (UK) - HMRC Secure Mailbox
 
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This video shows you how to access tax code notices in Sage 50 Payroll and automatically apply any changes to your employees.
Monthly Pay iReport User Training UK tax Calculator & Report Keeper for NHS and employee on shifts
 
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Do you struggle to be efficient in organising your monthly pay? Do you find it confusing keeping track of hours worked at different pay rates and the various deductions taken off your gross pay? Monthly Pay iRecord is an innovative new app designed to help you organise your monthly pay for the tax year 2013-2014 into a manageable and easy to use report. It uses the most up-to-date HMRC tax codes. These are K, L, P, T, Y, 0T, BR, DO, D1 and NT tax letters, combined with any number. Dig out a recent monthly pay slip, follow the step by step instructions provided in app, input the relevant data -- and in minutes you are set up to be super organised for the whole 2013-2014 tax year. All settings are saved so no wasting time setting the options each time. With Monthly Pay iRecord you can •Calculate and save as report monthly tax, NI, student loan and pension. •calculate how much your "take home" pay will be if you increase/ decrease your hours, get promoted and even change jobs. iReport can • Take up to two different rates of basic pay in (£), three different enhancement rates in (%) and thee different over time rates in (%). This will be particularly useful if you work on a shift rota system and/or do overtime. •Keep record of all the different deductions and benefits applicable to your gross pay including tax, NI at various letters, pension, salary sacrifice pension, student loan, BIK, other taxable/non-taxable benefits, Salary sacrifice deductions and other taxable /non-taxable deductions for each month. •Each month pay automatically goes into a table. •Email report function. •Frozen/Unfreeze and app pin functions. Monthly iReport will prove indispensable in helping you cleverly and accurately organise your 2013- 2014 monthly pay. Try Monthly I record for free for the first 2 months of the tax year. If you happy with what iReport offers, please buy a full version of the app available at minimum price. Updates: Tax codes, student loan and user interface updates. Now iReport can tackle 1. any tax code number and K,L,P,T,Y,0T,BR,DO,D1 and NT tax letters. 2. Student loan, Before Sept 2012 and after Sept 2012. Other Payments and Deductions screens made more user friendly.
Views: 692 PAIdistribution
The Tactics of Retirement Distributions – Steve Savant’s Money, the Name of the Game – Part 1 of 5
 
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Sub Headline: Successful Retirement Strategies are Based on Supporting Tactics Synopsis: A good retirement plan is a blueprint that outlines the overall goals during a retiree’s golden years. Included in the plan are strategies that support the goals and tactics that undergird the strategies. A comprehensive plan is based on taxes, income sources, risk mitigation and the best products to experience an enjoyable retirement. Watch syndicated financial columnist, talk show host and popular platform speaker Steve Savant address Retirement Distributions Content: Taxes are the largest expense in retirement. Learning the basics of income taxation should be at the top of retirement education. Tax management is not just during the retirement accumulation and distribution phase, but also the tax consideration of investments and savings vehicles. Here are some basic tactics to consider based on your effective tax bracket and if you can control your income. Keep in mind that the more tax diverse your portfolio is, the tactics can become more elaborate to reduce your tax bill. 1) Under the current tax code the standard deduction and personal exemptions can neutralize some of your taxable income during retirement. Non-qualified deferred monies like annuities can be designed to delay payments, i.e. forestalling a taxable event. Forestalling is just delaying taxes, it’s not eliminating taxes. But tax deferral has its own economic benefit during accumulation. HSA funds can pay for insurance premiums like long term care, disability and medical coverage, even Medicare Part B payments. HSA funds can also pay for legitimate medical expenses. Tax-free income can be generated from reverse mortgages, policy loans from TAMRA compliant cash value life insurance and Roth IRAs. So tax management can come in handy in retirement if you have tax diverse products. 2) Positioning “after tax” distributions as your first option before your qualified monies may have significant tax favored results such as lower capital gains treatment as one example. Again distributions from reverse mortgages, cash value life insurance, Roth IRAs and HSA accounts are not taxed and are not includable in the provisional income test or Social Security benefit taxation. 3) Deferring your Social Security benefits to age 70 will maximize your Social Security income and delaying qualified plan monies to age 70½ will allow an additional investment or savings cycle that potentially could increase your account just before retirement. These are basic considerations for retirees to ponder before they initiate income. Syndicated financial columnist, talk show host and popular platform speaker Steve Savant. In this series Steve addresses Selecting Between an IRA or Roth IRA in Order. Steve Savant’s Money, the Name of the Game is an hour-long financial talk show for financial professionals distributed online in 5 ten-minute video press releases Monday through Friday through Trans World News 280 media outlets, social media networks and industry portals. (www.lifesizesolutions.com) https://youtu.be/Lo3jyo478FM
Views: 1331 Steve Savant

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