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Before the TCJA, investors could deduct financial advisor fees if they exceeded 2 percent of their adjusted gross income (AGI) in 2017 and prior tax years. But this really only provided a measure ...
Interest income from a depository bank under the expanded foreign currency deposit system is taxed at the rate of 15%. [3] Income from long-term deposits and investments, when pre-terminated in less than three years after making such deposit or investment, is taxed at the rate of 20%; less than four years, 12%; and, less than five years, 5%. [2]
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.
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 ...
Three (3) new departments were created, namely: 1) Legal, 2) Assessment and 3) Collection. On the latter part of January of the same year, Memorandum Order No. V-188 created the Withholding Tax Unit, which was placed under the Income Tax Division of the Assessment Department.
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Consumption tax refers to any tax on non-investment spending and can be implemented by means of a sales tax, consumer value-added tax, or by modifying an income tax to allow for unlimited deductions for investment or savings.
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 ...