A type of annuity contract that is established with a single lump-sum payment by the owner. The annuity then grows on a tax-deferred basis until annuitization. Single-Premium Deferred Annuities (SPDA) can be either fixed or variable, and distributions are only taxed when you take them. There is no investment limits regarding how much you wish to invest in a SPDA. Watch: What Are Deferred Annuities? Single Premium Deferred Annuities (SPDA) differ from immediate contracts in that they grow tax-deferred for a period of time before annuitization. They also differ from flexible-premium contracts where the investor makes multiple payments into the contract over a period of time while the assets grow. SPDA is appropriate for investors who need steady income and have a lump-sum balance to invest.
A means of taxing spot currency conversions that was originally suggested by American economist James Tobin (1918-2002). The Tobin tax was developed with the intention of penalizing short-term currency speculation, and to place a tax on all spot conversions of currency. Rather than a consumption tax paid by consumers, the Tobin tax was meant to apply to financial sector participants as a means of controlling the stability of a given country's currency. The Tobin tax has been controversial since it was originally introduced in 1972 by James Tobin, recipient of the Nobel Memorial Prize in Economics in 1981. Opponents of the tax indicate it would eliminate any profit potential for currency markets. Proponents state that the tax would help stabilize currency and interest rates because many countries' central banks do not have the cash in reserve that would be needed to balance a currency selloff.
One of two payout option methods an employer uses to distribute retirement benefits. At retirement, a retiree has the choice of either a single-life payout or a joint-life payout. A single-life payout means only the employee will be receiving the payments for the rest of his/her life, but the payments stop upon his/her death. In contrast to the single-life payout option, a retiree can also choose a joint-life payout option that will continue payments after the retiree's death to someone else, such as a spouse. Some plans restrict the survivor benefits to immediate family members. Typically, the periodic payment from a joint-life payout option will be less than the amount in a single life payout because it continues after death.
A set of rules developed by the International Chamber of Commerce (ICC) and adopted in 1992. URDG provides a framework for harmonizing international trading practices and establishes agreed-upon rules for independent guarantees and counter-guarantees among trading partners. The guarantees specify uniform practices for securing payment and performance in worldwide commercial contracts. |||The World Bank and the United Nations Commission on International Trade Law (UNCITRAL) have adopted the URDG into their standards for financing international trade. The ICC's publication, Uniform Rules for Demand Guarantees, is considered an authoritative guide and reflects international practice in the use of demand guarantees, while preserving the goal of the original rules – to balance the interests of the trading parties and curb abuse in the development of international trade guarantees.
A tax imposed on cigarettes to help pay for healthcare for the state’s poor and contribute to cancer research and smoking prevention and cessation programs. The idea behind the tobacco tax is to try and prevent more children from becoming smokers and persuade adult smokers to quit. Also referred to as "cigarette tax". Between 2002 and 2010, 47 states, Washington, D.C., and several U.S. territories have increased their cigarette tax rates more than 100 times. Each state has different prices due to varying state tax rates in addition to different manufacturer, wholesaler, and retailer pricing and discounting practices. More states have tried increasing rates in an effort to decrease the number of teenagers who start smoking and to minimize the illnesses related to smoking and second-hand smoke.
The risk of receiving lower or negative returns early in a period when withdrawals are made from the underlying investments. The order or the sequence of investment returns is a primary concern for those individuals who are retired and living off the income and capital of their investments. It is not just long-term average returns that impact your financial wealth, but the timing of those returns. When retirees begin withdrawing money from their investments, the returns during the first few years can have a major impact on their wealth. Two retirees with identical wealth can have entirely different financial outcomes, depending on when they start retirement. A retiree starting out at the bottom of a bear market will have better investing success in retirement than another starting out at a market peak, even if the long-term averages are the same.
Funds received over and above wages for services rendered. Also known as gratuities. If an individual collects tips over a given amount during a calendar month, it must be reported to the employer.
An act that allows minors to own property such as securities. The IRS allows persons to give so many thousands of dollars to another person without any tax consequences. If this recipient person is a minor, the UGMA allows the minor to own the assets without an attorney setting up a special trust fund. Under the UGMA, the ownership of the funds works like it does with any other trust except that the donor must appoint a custodian (the trustee) to look after the account. |||The donor can appoint him/herself or another person to be custodian. The custodian, who has a fiduciary duty to manage the minor's assets wisely, can use the funds to buy securities on behalf of the minor. Access to the gift must be given to the minor when he or she reaches the age of majority, either 18 or 21 (sometimes even 25), depending on UGMA state law. Should a donor acting as the custodian die before the custodial property is transferred to the minor, the entire custodial property is included in the donor's taxable estate.
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