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The Tax Cuts and Jobs Act (TCJA) of 2017 put an end to the deductibility of financial advisor fees, as well as a number of other itemized deductions. As of January 2018, these fees no longer ...
Percentage tax is a business tax imposed on persons or entities/transactions: who sell or lease goods, properties or services in the course of trade or business and are exempt from value-added tax (VAT) under Section 109 (w) of the National Internal Revenue Code, as amended, whose gross annual sales and/or receipts do not exceed Php 3,000,000 ...
Distribution and service fees are fees paid by the fund out of fund assets to cover the costs of marketing and selling fund shares and sometimes to cover the costs of providing shareholder services. They are also called 12b-1 fees after section 12 of the Investment Company Act of 1940. "Distribution fees" include fees to compensate brokers and ...
For example, if an investor has investment income of $1,000 and interest expenses of $500, then he or she can deduct the interest expense of $500 on the tax return.
In the investment advisory industry, a management fee is a periodic payment that is paid by an investment fund to the fund's investment adviser for investment and portfolio management services. Often, the fee covers not only investment advisory services, but administrative services as well. [ 1 ]
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The taxpayer will generally be the purchaser of the shares, although some provisions are given regarding which entity is responsible for filing the tax return. Those investment services firms or credit institutions buying shares on their own account are taxable individuals, whereas the financial intermediaries involved in the transaction are ...
My advisor charges a 2% fee for financial advice. He does not provide tax advice. My portfolio is currently worth around $850,000. Does this fee sound appropriate? – Tim Without knowing the full ...