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Tax Deferral

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NEWS
By Greg Tasker and Greg Tasker,Staff writer | January 26, 1992
The Maryland Municipal League has given Mayor W. Benjamin Brown's tax-deferral program for the elderly the thumbs-up.But Del. RichardC. Matthews, R-Carroll, said it may be too late to get the measure through the General Assembly. Even so, he said he plans to talk to other county delegates about MML's endorsement.MML Associate Director Steve McHenry said he informed Matthews the league has "no problems" with the legislative proposal. The county delegation asked MML to review Brown's measure.
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BUSINESS
By Humberto Cruz and Humberto Cruz,Tribune Media Services | December 31, 2006
Most American investors favor what I've long considered a smart long-term strategy, investing in the stocks of companies that consistently increase their dividends. But they do it without much understanding of the benefits, including superior compounded returns over time and a preferential tax rate. That is one finding among many that emerged from a comprehensive survey by Eaton Vance Corp., a Boston-based investment management firm, underscoring a continued and major need for investor education.
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BUSINESS
By Jeff Brown and Jeff Brown,KNIGHT-RIDDER NEWS SERVICE | September 23, 1996
UNLESS YOU'VE already got a couple of million stashed, you're probably worried about investing for retirement. Let me guess: Your insurance agent is touting variable annuities.What could be simpler? You invest in an annuity, and you don't have to pay taxes on the earnings until you begin to make withdrawals after you're 59 1/2 . By postponing taxes, you have more money available to grow, just as you do with a 401(k) or an IRA.And with an annuity, there's "no limit" on how much you can shelter.
NEWS
By Larry Carson and Larry Carson,SUN STAFF | May 13, 2005
The Howard County Council has proposed $1 million in budget cuts to pay for a new property tax deferral program for older homeowners, wrapping up a quiet budget review for the second consecutive year. "We are on excellent financial footing because we made some tough decisions to put us there," said Chairman Guy Guzzone, a North Laurel-Savage Democrat. He was referring to a hotly contested 30 percent income tax rate increase pushed through two years ago by County Executive James N. Robey and fellow Democrats on the council.
BUSINESS
By Jeff Brown and Jeff Brown,KNIGHT RIDDER/TRIBUNE | January 9, 2000
Many investors share a hope: that Washington will someday allow them to put unlimited sums into tax-favored accounts. But for now, they are stuck with rules that limit annual contributions to $2,000 for IRAs and $10,000 for 401 (k)s. If only more could be put in! Imagine the gains that would be realized with no tax on profits for decade upon decade. Actually, you can do just as well in an ordinary, taxable account if you manage things right. In fact, you could do "better" in a taxable account, according to a study by PricewaterhouseCoopers LLP. That's because some of the tax-deferred accounts come with strings attached.
NEWS
By Greg Tasker and Greg Tasker,Staff writer | February 26, 1992
Although Mary Owens lives on a fixed income and has seen her property taxes rise in recent years, she's not in favor of the mayor's tax-deferral program for the elderly."
NEWS
By Edward H. Shur | January 26, 1992
Westminster Mayor W. Benjamin Brown is an activist politician.Hefrequently comes up with proposals to benefit the city's residents, aid needy people and encourage business.On occasion, he has found himself criticized for those ideas and for his outspokenness -- sometimes rightly, other times not.But you always know the mayor is working -- and you always know where he stands on the issues.Brown's latest proposal is for a tax-deferralprogram for the city's elderly residents. His requested legislation was sent to the Carroll County delegation.
NEWS
By Larry Carson and Larry Carson,SUN STAFF | May 4, 2005
At 76, Donald J. Dunn is looking forward to seeing the annual property tax bill on his West Friendship home stay exactly where it is for now, thanks to tax relief measures unanimously approved by the Howard County Council. "It fulfills the wishes I had," Dunn said about one bill, which would let disabled homeowners and those 65 or older with annual incomes under $75,000 defer property tax increases, interest-free, until their homes are sold. "It allows seniors the option - and it's a good option - of staying in their house and being able to plan and have some security."
NEWS
By Larry Carson and Larry Carson,SUN STAFF | May 13, 2005
The Howard County Council has proposed $1 million in budget cuts to pay for a new property tax deferral program for older homeowners, wrapping up a quiet budget review for the second consecutive year. "We are on excellent financial footing because we made some tough decisions to put us there," said Chairman Guy Guzzone, a North Laurel-Savage Democrat. He was referring to a hotly contested 30 percent income tax rate increase pushed through two years ago by County Executive James N. Robey and fellow Democrats on the council.
BUSINESS
By Julie Jason | March 28, 2004
Many approaching retirement are finding their 401(k) accounts are their largest assets, sometimes more valuable than their homes. And no wonder: It's hard to beat the triple advantages of regular payroll savings, tax-deferred growth and company contributions. When they retire, many people roll over their 401(k)s into individual retirement accounts, which continue tax deferral. While tax deferral is a benefit when you are contributing, it can become a handicap when you need your IRA to support you in retirement.
NEWS
By Larry Carson and Larry Carson,SUN STAFF | May 4, 2005
At 76, Donald J. Dunn is looking forward to seeing the annual property tax bill on his West Friendship home stay exactly where it is for now, thanks to tax relief measures unanimously approved by the Howard County Council. "It fulfills the wishes I had," Dunn said about one bill, which would let disabled homeowners and those 65 or older with annual incomes under $75,000 defer property tax increases, interest-free, until their homes are sold. "It allows seniors the option - and it's a good option - of staying in their house and being able to plan and have some security."
BUSINESS
By Julie Jason | March 28, 2004
Many approaching retirement are finding their 401(k) accounts are their largest assets, sometimes more valuable than their homes. And no wonder: It's hard to beat the triple advantages of regular payroll savings, tax-deferred growth and company contributions. When they retire, many people roll over their 401(k)s into individual retirement accounts, which continue tax deferral. While tax deferral is a benefit when you are contributing, it can become a handicap when you need your IRA to support you in retirement.
BUSINESS
By JULIUS WESTHEIMER | March 23, 2001
MONEY MATTERS: "A study of 12,000 stocks found that split stocks outperformed those that didn't," says Money magazine. "There's no logical reason - two nickels aren't worth more than a dime - but if you're considering two similar stocks and one announces a split, go with that one." "The top-performing investment newsletters over the last 10 years were, in order, The Prudent Speculator, OTC Insight, Equity Fund Outlook, The Insiders and Timer Digest." (Hulbert Financial Digest) "Weed your stock garden periodically," says Moneypaper.
BUSINESS
By Jeff Brown and Jeff Brown,KNIGHT RIDDER/TRIBUNE | January 9, 2000
Many investors share a hope: that Washington will someday allow them to put unlimited sums into tax-favored accounts. But for now, they are stuck with rules that limit annual contributions to $2,000 for IRAs and $10,000 for 401 (k)s. If only more could be put in! Imagine the gains that would be realized with no tax on profits for decade upon decade. Actually, you can do just as well in an ordinary, taxable account if you manage things right. In fact, you could do "better" in a taxable account, according to a study by PricewaterhouseCoopers LLP. That's because some of the tax-deferred accounts come with strings attached.
BUSINESS
By Jeff Brown and Jeff Brown,KNIGHT-RIDDER NEWS SERVICE | September 23, 1996
UNLESS YOU'VE already got a couple of million stashed, you're probably worried about investing for retirement. Let me guess: Your insurance agent is touting variable annuities.What could be simpler? You invest in an annuity, and you don't have to pay taxes on the earnings until you begin to make withdrawals after you're 59 1/2 . By postponing taxes, you have more money available to grow, just as you do with a 401(k) or an IRA.And with an annuity, there's "no limit" on how much you can shelter.
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.
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.
BUSINESS
By JULIUS WESTHEIMER | March 23, 2001
MONEY MATTERS: "A study of 12,000 stocks found that split stocks outperformed those that didn't," says Money magazine. "There's no logical reason - two nickels aren't worth more than a dime - but if you're considering two similar stocks and one announces a split, go with that one." "The top-performing investment newsletters over the last 10 years were, in order, The Prudent Speculator, OTC Insight, Equity Fund Outlook, The Insiders and Timer Digest." (Hulbert Financial Digest) "Weed your stock garden periodically," says Moneypaper.
BUSINESS
By Michael Gisriel | July 9, 1995
Q: Could you explain the rules concerning an IRC 1031 tax-free exchange? I'm especially interested in the time requirements for identifying and settling on the replacement of like-kind property used in the exchange.William Rosenberg,PikesvilleA: An Internal Revenue Code Section 1031 exchange is a legal capital gains tax-deferral technique, which can be used to defer or avoid the capital-gains tax due on the sale of your investment (not residential) real estate -- provided that you invest in another investment property and follow IRS guidelines on using an intermediary or facilitator.
BUSINESS
By JANE BRYANT QUINN and JANE BRYANT QUINN,1992 Washington Post Writers Group | March 1, 1992
New York -- Memo to investors who are now being blitzed by insurance agents selling a "last chance" to buy tax-deferred annuities.Relax.There may indeed be a "last chance" someday. But it won't be now.What started the blitz was President Bush's State of the Union message, in which he proposed to end the tax deferral for certain annuities. In general, he'd allow the tax shelter only for people who agreed to keep their annuities for life. He'd also leave pension annuities alone.But you wouldn't be allowed to chuck money into a tax-deferred annuity for just a few years and then cash out.Within a few days after the speech, I was deluged with letters and faxes from insurance agents, urging that I advise readers to buy an annuity quick, before it melts.
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