child tax credit
total non refundable
additional child care
Ch. 14- Capital Gains and Losses. The code does not define capital assets, but rather 1221 lists
business assets that are NOT capital assets. This means that personal use assets (cars, houses,
clothes, TV's etc.) and investment assets (non-business assets
Foreign Tax credit
US citizens & residents are taxed only one time on worldwide income at the national level.
Credit is applied for smaller amount. Where to pay does not matter.
Ex) Canada income tax $20000 US income tax $30000, the
Rate of Return
Tax Rate (Investment)
Tax Rate (Withdrawal)
Mutual Fund - Has to pay tax on income before it is investe
(there is no tax at withdrawal because the
Roth IRA - Has to pay tax on income before it is
Phaseout of Exemptions
You lose at least part of the benefit of your exemptions if your adjusted gross income (AGI) is above a certain amount. For 2014, the
phaseout begins at the following amounts.
Head of h
Acct 2101 Lyman Extra Credit Recent Stocks Googles stock has been on a large decline throughout this quarter and the previous. This can be attributed to a continuous decline in search traffic on the search engine. As a result of the decline in users,