Advertisement
HomeCollectionsAfter Tax
IN THE NEWS

After Tax

FEATURED ARTICLES
BUSINESS
By Matthew Lubanko | April 17, 2005
I borrowed $4,500 from my 401(k) plan last year. Earlier this year my company cut me loose in a major downsizing. In addition to telling me I no longer have a job, my company told me I had to pay back my 401(k) loan within 60 days. Is that true? And what would happen if I decided not to pay back that $4,500? J.S., Baltimore You've accidentally discovered one major pitfall of borrowing from your 401(k) plan. Your employer, under the law, can require you to pay back the loan within 60 days if you've left the company for a new job; if your company lays you off to reduce costs; or if your company fires you for misconduct.
ARTICLES BY DATE
NEWS
By Luke Broadwater and The Baltimore Sun | October 7, 2013
A city councilman is calling for an "immediate and thorough" audit of the city's finance department after The Sun reported on persistent tax bill errors that have caused the city to miss out on revenue. Councilman Carl Stokes, chairman of the council's taxation committee, plans to introduce two resolutions Monday about the issue. The first resolution calls for the audit, which Stokes says is necessary to "determine exactly what errors have been made in administering the city's property tax programs and how much these errors are costing the city.
Advertisement
BUSINESS
By George Karvel and George Karvel,KNIGHT RIDDER/TRIBUNE | August 3, 2003
A reader writes that he refinanced his mortgage from a 6.65 percent 30-year mortgage to a 5 percent 15-year mortgage in May. He has $98,000 remaining on the mortgage and was wondering if it would be more beneficial to prepay the mortgage. He earns $45,000 and guesses he is in the 28 percent tax bracket. He wants to know what his actual mortgage interest rate is after itemizing. Dear reader: As a financial matter, repaying a mortgage depends on a person's risk profile and what opportunities exist for the cash that would be used to pay off the mortgage.
NEWS
By Pamela Wood, The Baltimore Sun | September 9, 2013
The attorney for ousted Anne Arundel County Councilman Daryl D. Jones said Monday her client made a mistake in failing to file tax returns for several years, but she said that after serving his time, Jones is "fit to be a lawyer and he is fit to be a member of the County Council. " Attorney Linda Schuett made the case for Jones in Annapolis before retired Circuit Judge Arthur Ahalt, who will determine whether Jones will get his seat on the council back. Jones, a Severn Democrat who was first elected to the County Council in 2006 and re-elected in 2010, was charged in August 2011 with failing to file several personal and business tax returns between 2002 and 2007.
BUSINESS
By Bill Barnhart and Bill Barnhart,Chicago Tribune | May 5, 1997
RISK IN a mutual fund involves more than the volatility of its investment returns. For many investors, taxes represent a significant risk as well.Despite the popularity of tax-deferred investment programs, such as individual retirement accounts and employer-sponsored 401(k) plans, most individual owners of mutual fund shares annually face the tax consequences of their own investment strategies, which they can control, and their fund manager's strategies, over which they have almost no control.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | October 23, 1997
USF&G Corp. escaped winds, storms, hurricanes and other natural disasters, and as a result, operating income soared 68 percent and net income rose 35 percent in the third quarter.The Baltimore insurance company said yesterday that it's after-tax operating income jumped to $51 million in the third quarter ended Sept. 30, compared with $31 million for the same time a year earlier.After-tax operating income per fully diluted common share rose 81.8 percent to 40 cents in the quarter, compared with 22 cents for the same period in 1996.
BUSINESS
By Humberto Cruz and Humberto Cruz,TRIBUNE MEDIA SERVICES | August 19, 2007
Last month, I sold all the shares of a couple of stock mutual funds in my traditional individual retirement account and used the money to buy bonds for the IRA. That same day, I used some of my cash reserves to buy the exact number of shares of the same stock funds in a taxable account outside the IRA. While there are no tax consequences now, I figured the switch could save me quite a bit in taxes in the long run. I have since read a paper from a...
NEWS
By Gilbert A. Lewthwaite and Gilbert A. Lewthwaite,Washington Bureau | April 16, 1992
WASHINGTON -- Rich and poor rushed by the millions to meet the annual tax deadline yesterday, but after both paid their share of the nation's $1.8 trillion dues to Uncle Sam, the income gap between them remained as wide as ever.The tax system does not cause the great divide in income nor does it narrow the gap dramatically, according to a series of recent studies.Although the system takes more from the rich than the poor, it still leaves the richest richer and the poorest poorer. That trend has become a central issue in this year's presidential campaign.
BUSINESS
By Jay Hancock | August 4, 1997
THIS MIGHT COME as a surprise, but buying stock gives you ownership in something called a company and the chance to participate in the future earnings flow of that company.If you read the papers much, you might well believe that stock values are tied to the rockfish population in the Chesapeake, or to Tony Gwynn's batting average.The Wall Street Journal ran a long story last month that essentially treated the Dow Jones industrial average as a ballistic object whose only reference points were where it had been fired from, what it was pointed at and how fast it was traveling.
FEATURES
By SUSAN BONDY and SUSAN BONDY,Creators Syndicate | August 13, 1995
Q: I'm a 24-year-old looking to start investing and saving. I want to put money away for retirement. My employer has a profit-sharing plan, but it doesn't currently allow for employee contributions. From my reading of the IRS publication on individual retirement accounts, it appears I'm not eligible to receive a tax break on my contributions to an IRA. Is putting $2,000 a year into an IRA still advisable, or would the money be better invested outside of an IRA?A: The effect of tax deferral on a $2,000 investment is dramatically illustrated through the following example: Assume you are in the 28-percent federal tax bracket and pay an additional 5 percent in state, local or other taxes for a total tax rate of 33 percent.
NEWS
By Andrea F. Siegel, The Baltimore Sun | November 29, 2012
Lawyers for an ousted Anne Arundel County councilman convicted of a federal tax charge will square off Monday with the county officials who showed him the door when Daryl D. Jones asks the state's highest court to return him to his elected office. Jones' request — an appeal from a lower court that upheld his ouster — asks the Court of Appeals to erase a County Council measure that made him the first Anne Arundel council member removed from office by his colleagues. If Jones wins, the councilman named to replace him could potentially be ordered to vacate the seat.
BUSINESS
Jamie Smith Hopkins | July 10, 2012
It looked so odd: Two sets of homeowners in Howard County seemed to be getting property-tax credits that added to their bill, rather than subtracting. When I stumbled upon them in a database of Howard property taxes that we'll (fingers crossed) have online for you all to search later this month, I stared blankly at the pair. It had to be a mistake, right? Right. Howard County officials, investigating after I inquired, said the stealth tax labeled as a homestead credit was a miscalculation by the state Department of Assessment and Taxation that got by the county's finance department.
NEWS
By Scott Calvert, The Baltimore Sun | April 22, 2012
Like a car salesman, the City of Baltimore started high, came down and ended up making a deal all sides could live with. The city has agreed to give Patterson Park homeowner Maureen Coyle about two years to repay $5,702 worth of property tax breaks that she didn't ask for and that she thought reflected a legitimate discount for being an owner-occupant, Coyle says. On Friday the city's law department emailed her a contract spelling out terms of the deal that will require her to repay $250 a month.
NEWS
By Scott Calvert, The Baltimore Sun | April 6, 2012
Baltimore City is $14,026.32 less poor thanks to developer Blake Cordish. That's how much he paid after the state fixed a three-year-old error that vastly undervalued his Federal Hill mega-rowhouse. The payment, made on the Ides of March, covers additional property taxes for the past three years on his 4,600-square-foot home on East Montgomery Street. As The Baltimore Sun reported in January, the state Department of Assessments and Taxation erred when it reassessed his home in 2009.
NEWS
By Annie Linskey, The Baltimore Sun | July 21, 2011
In a hunt for more revenue, Maryland officials are weighing ways to pressure hotel-booking websites such as Expedia and Orbitz to pay more taxes — a tactic that has netted some cities, counties and states tens of millions of dollars, but left others mired in lengthy legal battles. The premise is simple. Maryland now collects sales taxes based on the bulk rates that the websites pay hotels for their rooms. But some officials say the taxes should be based on the higher prices for which the websites sell the rooms to customers.
NEWS
By Laura Smitherman, Gadi Dechter and Timothy B. Wheeler and Laura Smitherman, Gadi Dechter and Timothy B. Wheeler,Sun reporters | January 15, 2008
Gov. Martin O'Malley and his fellow Democrats in the state legislature brushed aside any concerns yesterday about his dismal approval ratings and voter discontent over tax increases approved during the November special session, saying that even if they aren't doing what is popular, they are doing what is right. "Popularity is a nice thing, and I have enjoyed it from time to time as a public servant," O'Malley said yesterday. "But more important to me is making the right decisions for the long-term interests of the people I serve."
BUSINESS
By Janet Kidd Stewart and Janet Kidd Stewart,Chicago Tribune | November 5, 2006
I am confused on whether there are taxes on an annuity. Also, if you have a deferred annuity in a mutual fund, and it loses money, can you sell it and not annuitize it and take the loss on your tax return? I put $5,000 in and it is down to $3,600 because I had it in high-tech stocks. - Brenda Kaufman, 63, Ellicott City, Md. First, revisit why you bought the annuity in the first place. The essential protection offered by an annuity is a hedge against longevity. Low-cost, tax-efficient mutual funds are great for investment growth, but if your total portfolio isn't large enough to sustain you through a ripe old age, an annuity can offer the guarantee that you won't run out of money.
NEWS
By NEW YORK TIMES NEWS SERVICE | September 5, 1999
The gap between rich and poor has grown into an economic chasm so wide that this year the richest 2.7 million Americans, the top 1 percent, will have as many after-tax dollars to spend as the bottom 100 million.That ratio has more than doubled since 1977, when the top 1 percent had as much as the bottom 49 million, according to new data from the Congressional Budget Office.In dollars, the richest 2.7 million people and the 100 million at the other end of the scale will have about $620 billion to spend, according to an analysis of the budget office figures.
BUSINESS
By Humberto Cruz and Humberto Cruz,TRIBUNE MEDIA SERVICES | August 19, 2007
Last month, I sold all the shares of a couple of stock mutual funds in my traditional individual retirement account and used the money to buy bonds for the IRA. That same day, I used some of my cash reserves to buy the exact number of shares of the same stock funds in a taxable account outside the IRA. While there are no tax consequences now, I figured the switch could save me quite a bit in taxes in the long run. I have since read a paper from a...
NEWS
By Lynn Anderson and Lynn Anderson,Sun Reporter | February 13, 2007
State Comptroller Peter Franchot announced yesterday that his office will begin visiting and inspecting businesses with amusement devices such as video poker games and pool tables to ensure that owners are paying amusement taxes on the machines. Franchot's office sent out warning letters to machine owners that had yet to set up tax accounts with the state last month, telling them that they had until Feb. 8 to do so. Failure to comply, Franchot warned, would result in possible audit, fraud penalties or criminal prosecution.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.