The amount of income that is used to calculate an individual’s or a company’s income tax due. Taxable income is generally described as gross income or adjusted gross income minus any deductions, exemptions or other adjustments that are allowable in that tax year.Taxable income is also generated from appreciated assets that have been sold or capitalized during the year and from dividends and interest income. Income from these sources is generally taxed at a different rate and calculated separately by the tax entity. Individuals may choose to use a standard deduction amount for a given tax year. This amount is subtracted from gross income to arrive at the final taxable income figure. If individual deductions are claimed, the person or company will hope to have a total amount deducted from gross income lower than what would be achieved using the standard deduction. Some typical deductions that lower many tax bills include IRA contributions and certain business expenses.
A class of self-made millionaires that live relatively modest lives. Instead of spending wealth on gaining luxurious items and living expensive lifestyles, these individuals prefer to make contributions to charitable causes and spend time with their families. The concept of social responsibility may have contributed to the emergence of this new class of wealthy individuals. All in all, these individuals can be a great benefit for society because they redistribute a vast amount of wealth for social good. However, it may be difficult to become a YAWN because it can be very tempting for wealthy young people to be drawn to more extravagant lifestyles.
An option available within some employer-sponsored qualified plans that allows for Roth tax treatment of employee contributions. The Roth option allows employees to deposit money into their retirement plans on an after-tax basis. This feature is available for both 401(k) and 403(b) plans. The Roth option is a godsend for highly compensated employees whose incomes are too high to permit Roth IRA contributions. Annual contributions can allow them to accumulate an enormous pool of tax-free cash by the time they retire.
A government program created for the establishment and management of a Treasury fund, in an attempt to curb the ongoing financial crisis of 2007-2008. The TARP gives the U.S. Treasury purchasing power of $700 billion to buy up mortgage backed securities (MBS) from institutions across the country, in an attempt to create liquidity and un-seize the money markets. The fund was created by a bill that was made law on October 3, 2008 with the passage of H.R. 1424 enacting the Emergency Economic Stabilization Act of 2008. The Treasury will be given $250 billion immediately, and the President must certify additional funds as they are needed. The additional funds will be distributed as $100 billion, and then as the final $350 billion is given, Congress has the right to not approve the additional amounts. |||Global credit markets came to a near stand still in September 2008, as several major financial institutions, such as Lehman Brothers, Fannie Mae, Freddie Mac and American International Group, went under. In a few surprising moves, heavyweights Goldman Sachs and Morgan Stanley even changed their charter to become commercial banks, in an attempt to stabilize their capital situation. The bailout will attempt to increase the liquidity of the secondary mortgage markets by purchasing the illiquid MBS, and through that, reducing the potential losses that could be felt by the institutions who currently own them. In October of 2008, revisions to the program were announced by Treasury Secretary Paulson and President Bush; allowing for the first $250 billion to be used to buy equity stakes in nine major U.S. banks, and many smaller banks. This program demands that companies involved lose some tax benefits, and in many cases incur limits on executive compensation.
Any event or transaction that results in a tax consequence for the party who executes the event. Common examples of taxable events for investors include receiving interest and dividends, selling securities for a gain and exercising options. Investors should focus on limiting their taxable events, or at least minimizing high tax rate events while maximizing low tax rate ones. Holding on to profitable stocks for more than a year (to eliminate short-term capital gains) is one of the easiest ways to minimize the effects of taxable events.
A company that was once making a takeover attempt but ends up discussing a merger with the target company. The implication is that the company attempting the takeover has chickened out, deciding to discuss things instead of making an aggressive move.
Select groups of capital which are monitored with regards to their international movement. Treasury international capital is used as an economic indicator that tracks the flow of Treasury and agency securities, as well as corporate bonds and equities, into and out of the United States. TIC data is important to investors, especially with the increasing amount of foreign participation in the U.S. financial markets. |||As demand for U.S. financial instruments increases, the value of the dollar is held up. This is because demand for U.S. dollars increases as they are needed to purchase U.S. securities. Strong demand also places downward pressure on interest rates. Because this data can have a direct effect on interest rates and the value of the dollar, and because foreign ownership of U.S. debt is more prevalent than foreign ownership of U.S. equities, this data seems to have a larger effect on the bond markets than on the stock markets.
A number that is assigned to a tax paying businesses for identification and record keeping purposes. The TIN number allows the IRS to keep track of all taxpaying entities and manage their accounts. Corporations, estates and trusts must file their taxes under this number each year. For firms, the TIN number is their Social Security number equivalence. For corporations, this number is their EIN (Employer Identification Number). Estates, trusts and partnerships use EINs as well.
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