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A lump-sum tax is a special way of taxation, based on a fixed amount, rather than on the real circumstance of the taxed entity. [1] In this, the entity cannot do anything to change their liability. [2] In contrast with a per unit tax, lump-sum tax does not increase in size as the output increases. [3]
Customers duped by a California mortgage broker's ads for low mortgage rates are receiving refund checks from the Federal Trade Commission (FTC). Chase Financial Funding Inc. -- which now does ...
The lump sum accrued from the initial deposit and the rent credit are only released to the buyer as down-payment on the house should the tenant/buyer decide to proceed with the purchase. The tenant/buyer is responsible for securing the necessary mortgage loan to finalize the purchase of the home.
Lump-sum taxes can be either progressive or regressive, depending on what the lump sum is being applied to. A tax placed on car tags would be regressive because it would be the same for everyone regardless of the type of car the owner purchased and, at least in the United States, even the poor own cars.
For example, if you contribute $5,000 to your company 401(k) plan, the amount of your taxable income drops by $5,000. If you’re in the 25% tax bracket, it amounts to savings of $1,250 in federal ...
A lump sum payment is single payment of a sum of money. If you’ve got a pension plan, such as a 401(k) or an IRA, and you’d like to access the vehicle’s funds, you can typically choose ...
Product return, a process in which a customer returns a product to the original retailer in exchange for money previously paid; Money back guarantee, a guarantee that, if a buyer is not satisfied with a product or service, a refund will be made; Tax refund, a refund on taxes when the tax liability is less than the taxes paid
A lump sum could be $10,000, $50,000, $200,000 or any amount that is large given your situation. You might find yourself with a lump sum for any number of reasons. Perhaps you received an inheritance.