vania-janet/multiturn-rag-retrieval-data huggingface dataset:
Yes, you are generally allowed to make contributions yourself to your HSA, even if your employer also made contributions. Let me explain further. The contribution limit for tax year 2015 is $3350 for individual coverage.  (It is higher for family coverage, or for account holders age 55+.)  The limit is for everything contributed to the HSA, whether it is an employer contribution or an account holder contribution.  (In other words, if your limit is $3350, and your employer contributed $3000, you can only contribute $350.) As far as the IRS is concerned, anything that your employer sends in is considered an employer contribution.  This might be money from the company as part of a benefit, or it might be money deducted from your salary as part of a voluntary contribution on your part.  Either way, if the employer sends it in, it is an employer contribution.  None of this employer contribution shows up on your W-2 as taxable income, so you don't get to deduct it on your tax return.  It has already been taken off of your income. Money that you send in yourself with your after-tax dollars is your account holder contribution.  This is money that you can deduct on your tax return, so that you aren't paying tax on this money. So here is what you need to do: Determine your total HSA contribution limit for tax year 2015. Find out how much your employer has already contributed for 2015.  The difference is how much you can still contribute for 2015. Contact your HSA provider and find out how to make a 2015 contribution.  Don't just send money in, because there is probably a form they want you to fill out to make a prior year contribution. Get all this done by April 15, the deadline for making a prior year contribution.  Actually, get it done before April 15, because often there will be some sort of delay of a day or two that will prevent you from doing this on the last day.
I think this article explains it pretty well: Contributions to a SEP are limited to   20% of your business  income (which is   business income minus half of your   self-employment tax), up to a maximum   of $45,000. With a solo 401(k), on the   other hand, you can contribute up to   $15,500 plus 20% of your business   income (defined the same way as   above), with a maximum contribution of   $45,000 in 2007. You can make an extra   $5,000 catch-up contribution if you're   50 or older
If you are interested, simply collect their contact information and donate by mail or in the office. You can't vet a door to door or phone call charity; not quickly enough anyway.  A real charity would be happy for your donation anytime, not just when a volunteer happens to catch you at home on the weekend. It is simply to ripe for scams in my opinion. The big exception is when a kid comes to my door with a food item.  I try to buy one just to make the kid feel successful.  Even if they never turn in the money at least I got a $2 chocolate bar.
Notice in the example that Ben contributed more that than his elective limit in total (his was $24,000 in the example because he was old enough for the $6,000 catch-up in addition to the $18,000 that applies to everyone else). He did this by declaring an employer contribution of $12,500, which was limited by his compensation but not by any of his elective contributions. Beyond the 401(k), keep in mind that elective contributions are capped across different types of retirement plans as well, so if you have a SEP IRA and a solo 401(k), your total contributions across those plans are also capped. That's also mentioned in the example. Now to the extent that you're considering different types of plans, that's a whole question in itself - One that might be worth consulting a dedicated tax advisor. A few things to consider (not extensive list): As for payroll / self-employment tax: Looks like you will end up paying Medicare, including the new ""Additional Medicare"" tax that came with the ACA, but not SS: If you have wages, as well as self-employment earnings, the tax on your wages is paid first. But this rule only applies if your total earnings are more than $118,500. For example, if you will have $30,000 in wages and $40,000 in selfemployment income in 2016, you will pay the appropriate Social Security taxes on both your wages and business earnings. In 2016, however, if your wages are $78,000, and you have $40,700 in net earnings from a business, you don’t pay dual Social Security taxes on earnings more than $118,500. Your employer will withhold 7.65 percent in Social Security and Medicare taxes on your $78,000 in earnings. You must pay 15.3 percent in Social Security and Medicare taxes on your first $40,500 in self-employment earnings and 2.9 percent in Medicare tax on the remaining $200 in net earnings. https://www.ssa.gov/pubs/EN-05-10022.pdf Other good IRS resources:"
"I am not 100% sure, but I think the answer is this:  You can't max out both.  You could theoretically max out the SIMPLE IRA ($11,500) and then contribute $4,000 to your 401k, but your total can't exceed the 401k limit of $16,500.  This also means you could max out your 401k at $16,500, but you couldn't contribute anything to the SIMPLE IRA.  Note that no matter what, you can't contribute more than $11,500 to your SIMPLE IRA. (Note that this is all independent from your Traditional or Roth IRA, which are subject to their own limits, and not affected by your participation in employer-sponsored plans.) As I understand it, a 401k and a SIMPLE IRA both fall under the umbrella of ""employer-sponsored plans"".  Just like you can't max out two 401k's at two different employers, you can't do it with the 401k and the SIMPLE IRA.  The only weird thing is the contribution limit differences between SIMPLE IRA and 401k, but I don't think the IRS could/would penalize you for working two jobs (enforcing the lower SIMPLE IRA limit for all employer-sponsored retirement accounts). You should probably run the numbers, factoring in the employer match, and figure out which account-contribution scenario makes the most financial sense for you.  However, I'm not sure how the employer match helps you when you're talking about a small business that you own/run.  You may also want to look at how the employer match of the SIMPLE IRA affects the taxes your business pays. Disclaimer #1:  I couldn't find a definitive answer on your specific scenario at irs.gov.  I pieced the above info from a few different ""SIMPLE IRA info"" sites.  That's why I'm not 100% sure.  It seems intuitively correct to me, though.  Does your small business have an accountant?  Maybe you should talk to him/her. Disclaimer #2:  The $ amounts listed above are based on the IRS 2010 limits."
"Your contribution limit to a 401(k) is $18,000. Your employer is allowed to contribute to your 401(k), usually a ""matching contribution"". That matching contribution comes from your employer, so is not subject to your personal contribution limit. A contribution to a regular 401(k) is typically made with pre-tax money (i.e. you don't pay payroll taxes on the money you contribute) so you pay less taxes for the current tax year. However when you retire and you take money out, you pay taxes on the money you take out. On one hand, your tax rate may be lower when you have retired, but on the other hand, if your investments have appreciated over time, the total amount of tax you pay would be higher. If your company offers a Roth 401(k) plan, you can contribute $18,000 of after tax money. This way you pay the tax on the $18,000 today, as you would if you did not put the money in the 401(k), but when you take the money out at retirement, you would not have to pay tax. In my opinion, that serves as a way to pay effectively more money into your 401(k). Some firms put vesting provisions on the amount that they match in your 401(k), e.g. 4 years at 25% per year. So you have to work 1 full year to be entitled to 25% of their matching contribution, 2 years for 50%, and 4 years to receive all of it. Check your company's Summary Plan Description of the 401(k) to be sure. You are not allowed to invest pre-tax money into a Traditional IRA if you are already contributing to a 401(k) plan and have reached the income limits ($62,000 AGI for single head of household). You are allowed to contribute post-tax money to a Traditional IRA plan if you have already contributed to a 401(k), which you can then Roll-over into a Roth IRA (look up 'backdoor IRA'). The IRA contribution limit applies to all IRA accounts over that calendar year. You could put some money in a traditional IRA, a Roth IRA, another traditional IRA, etc. so long as the total amount is not more than the contribution limit.
Each S-corp is bound by its own plan documents, which typically do not limit or dictate where the investments are held. Your brokerage account has no tie to the company from which the funds come, however, you are still subject to maximum SIMPLE contribution rules and cannot exceed the $12,500 (if under age 50) COMBINED contribution for any and all companies. Be careful about co-mingling from both companies as there are penalties for early withdrawals made within 2-years of participating in the plan. If you started them both at the same time it's not an issue.
The contribution limits for an IRA extend across both traditional and Roth IRAs.  If you have both a Traditional and Roth, you are limited to $5000 in contributions to both ($2500 in each, $5000 in one and $0 in the other, etc).  Opening another IRA in this case wouldn't really help you out. I've always heard the conventional wisdom to be:
Around 22 million bitcoin maximum. I can't remember full details but it's designed to dish out 12.5 coins every 10 minutes on average. Sometimes it might be 10 seconds, sometimes an hour, and half every 4 years until 22 million it just halved so in about 3.5 years you will get 6.25. Now to SEND bitcoin you can bribe miners and pay a few cents to jump the line, so you get your 12.5 + the donated coin.   As for eth it's confusing shit. Bitcoin is like a virtual dollar, eth you can 'transform' into other things to do things I don't know what it's for. Research 'dao' and eth. Dao was some sort of contract system using eth.
Q: If I call a tail a leg, then how many legs does a dog have?   A: 4. You can call it whatever you want, it's still a tail. The scenario is nonsense. There is a quid pro quo, the waitress served the customer and he tipped her. A $7 tip on a $24.47 check. He was generous, but misguided if he thought that this note would let the tip go untaxed.  And even though the article you link is fresh, the author has the gift threshold incorrect. This year it's $14,000, and has been so since 2013.  A cute story, and unlikely to be an issue for $7, but the IRS would take notice if this idea gained any traction.  Two references - If Gifts Are Not Income, Why Tax Gratuities? From the Tax Court Files: Is That Money a Gift or Income?
Spending too much too quickly is a good way to end up with no money and no idea what happened to it. Also, note that this isn't just for you; family members deserve some love too! Charitable giving. If you have more money than you know what to do with, there are plenty of people out there who know exactly what to do--try to go on living and build a basic life for themselves--but have no money with which to do so. Do your research. Scam charities abound, as do more-or-less legitimate ones who actually do help those in need, but also end up sucking up a surprisingly high percentage of donations for ""administrative costs"". Try and avoid these and send your money where it will actually do some good in the world. Reinvest in yourself. You're running a business. Make sure you have the best tools and training you can afford, now that you can afford more!"
Sure.. its possible, its exactly what activist investors do (with institutional money - e.g. pension funds, family foundations).  Crowdsourcing probably implies an average &lt;$100 donation per contributor in your mind however, so you'd need a lot of contributors (as opposed to an institution writing a $1B check out of the box)  As a benchmark, you can start agitating even without owning shares, but it probably lends credibility to have a few percentage points.  As of today, GS's market cap is $46B, JPM's market cap is $122B, BAML's market cap is $77B... so you'd need at least $1B of capital to buy a percentage point or two.  At $100 per ticket. that's 10M individual donors.
Note that since Traditional IRA contribution and Roth IRA contributions share the same nominal dollar amount annual limit, but we know that $1 of Roth IRA contributions is effectively larger than $1 of Traditional IRA contributions, that means that Roth IRA contributions has an effectively ""higher"" annual limit than Traditional IRA contributions. For example, a $5500 Traditional IRA contribution is equivalent to a $3960 Roth IRA contribution for someone in the 28% bracket; whereas a $5500 Roth IRA contribution would be equivalent to a $7638.89 Traditional IRA contribution, which you can't do. So it's not possible to do a fair comparison when you go near the limit. If it is important to you to tax-advantage the ""largest"" amount of money, then that is a reason to go for Roth IRA, since it has an effectively higher annual limit. You cannot replicate the tax advantage of a $5500 Roth IRA contribution with a Traditional IRA contribution, because that money in pre-tax dollars is beyond the limit of a Traditional IRA contribution."
I want to know it is taxable any guidelines As per the income tax rules, this is taxable to you. The amount will be treated as gift to you. The limit of this in a year [across all friends] is Rs 50,000. If the limit exceeds, the entire amount is taxable. You would need to declare this as other income and pay taxes as per your tax brackets.
"If you need to transfer a larger amount than the $14K/person/person limit, one accepted workaround is to structure it as a loan, then gift the payments over the duration of the loan. There are ""intra-family mortgage"" companies which specialize in setting up this kind of transaction. Note that this doesn't allow you to give more without penalty, it just lets you transfer the actual cash earlier, in exchange for some bookkeeping overhead and some fees for the legal processing and mortgage registration."
If you have a software company, that can produce a box of software for $5, but the box sells for $100. (You have to make a profit and cover development costs) But then you give these boxes to charity, that is a cost of $5 each and a tax rebate of $100 x 40% = $40. A profit of $35 per donation of $5.  Note: You can only do this if you have taxable profit to offset it against.
The limit, if any, would be established by your financial institutions. You would need to contact both your sending and receiving bank to ascertain any limitation they impose on wire transfers. Generally, taxes aren't imposed on transference of funds between accounts you own, but I'm not familiar with tax in Thailand and I could be wrong on that half of the question.
has very little idea about how much we earn and how high up we are in terms of income percentile. The first part of this sentence is tough to understand. My daughter was 12 when she told us what she estimated our income to be. She looked up the price of our home, worked backwards using conservative numbers, and was pretty close. Here you are saying your wife doesn't know the family income?  Percentiles are meaningless. There are $60k couples who donate 10%, and there are $300k earners who are not charitable at all, and don't even save.  It's time to have a general budget conversation with her. Perhaps starting with the rate of savings, and show how there's room for charity. If your charitable desire is based on a religious compulsion, share that as well, the 10% is what many feel commanded to share by their maker, and feel that it comes off the top regardless of their income level.  In reality, this issue is not financial, it's about open dialog between 2 people. Money is difficult for some to discuss, but you need to start somewhere.
Overcontributions made after the calendar year are not usually a problem. This is because while contributions made in Jan and Feb can be counted towards the previous year, they do not have to be. This appears to be what has happened in your case. If you had an RRSP limit of $18,000 for 2015, and in Jan 2016 you contributed $22,000 to your RRSP, then it is perfectly legal to claim $18,000 of that in 2015 and $4000 in 2016. The extra $4000 is never counted against your 2015 limit and so is not an overcontribution. If your 2016 limit is going to be less than $4000 then you will eventually have an overcontribution problem in 2016, and if you think that's likely you should sort this out now. But for most people that's pretty unlikely.
IRS Publication 969 gives all the details about HSA accounts and High Deductible plans: According to your question you are covered by a plan that can have an HSA. There a few points of interest for you: Contributions to an HSA Any eligible individual can contribute to an HSA. For an employee's HSA, the employee, the employee's employer, or both may contribute to the employee's HSA in the same year. For an HSA established by a self-employed (or unemployed) individual, the individual can contribute. Family members or any other person may also make contributions on behalf of an eligible individual. Contributions to an HSA must be made in cash. Contributions of stock or property are not allowed. That means that yes you could make a contribution to the HSA. Or if in the future you were the provider of the insurance you could have a HSA. Limit on Contributions For 2015, if you have self-only HDHP coverage, you can contribute up to $3,350. If you have family HDHP coverage you can contribute up to $6,650. It sounds like you have a family plan. Additional contribution. If you are an eligible individual who is age 55 or older at the end of your tax year, your contribution limit is increased by $1,000. Rules for married people. If either spouse has family HDHP coverage, both spouses are treated as having family HDHP coverage. If each spouse has family coverage under a separate plan, the contribution limit for 2014 is $6,550. You must reduce the limit on contributions, before taking into account any additional contributions, by the amount contributed to both spouses' Archer MSAs. After that reduction, the contribution limit is split equally between the spouses unless you agree on a different division. The rules for married people apply only if both spouses are eligible individuals. If both spouses are 55 or older and not enrolled in Medicare, each spouse's contribution limit is increased by the additional contribution. If both spouses meet the age requirement, the total contributions under family coverage cannot be more than $8,550. Each spouse must make the additional contribution to his or her own HSA.
Alright, team! I found answers to part 1) and part 2) that I've quote below, but still need help with 3). The facts in the article below seem to point to the ability for the LLC to contribute profit sharing of up to 25% of the wages it paid SE tax on. What part of the SE tax is that? I assume the spirit of the law is to only allow the 25% on the taxable portion of the income, but given that I would have crossed the SS portion of SE tax, I am not 100%. (From http://www.sensefinancial.com/services/solo401k/solo-401k-contribution/) Sole Proprietorship Employee Deferral The owner of a sole proprietorship who is under the age of 50 may make employee deferral contributions of as much as $17,500 to a Solo 401(k) plan for 2013 (Those 50 and older can tack on a $5,500 annual catch-up contribution, bringing their annual deferral contribution to as much as $23,000). Solo 401k contribution deadline rules dictate that plan participant must formally elect to make an employee deferral contribution by Dec. 31. However, the actual contribution can be made up until the tax-filing deadline. Pretax and/or after-tax (Roth) funds can be used to make employee deferral contributions. Profit Sharing Contribution A sole proprietorship may make annual profit-sharing contributions to a Solo 401(k) plan on behalf of the business owner and spouse. Internal Revenue Code Section 401(a)(3) states that employer contributions are limited to 25 percent of the business entity’s income subject to self-employment tax. Schedule C sole-proprietors must base their maximum contribution on earned income, an additional calculation that lowers their maximum contribution to 20 percent of earned income. IRS Publication 560 contains a step-by-step worksheet for this calculation. In general, compensation can be defined as your net earnings from self-employment activity. This definition takes into account the following eligible tax deductions: (1) the deduction for half of self-employment tax and (2) the deduction for contributions on your behalf to the Solo 401(k) plan.
The post-tax nature of the TFSA and completely tax-free withdrawals makes them comparable to Roth-type accounts in the U.S.; i.e. while you won't get a tax deduction for contributing, you won't pay tax on earnings when withdrawn. Yet, unlike U.S. Roth-type accounts, you are not required to use the TFSA strictly for retirement savings—there is no penalty for pre-retirement withdrawal of TFSA funds. There are also employer-sponsored defined benefit (DB) and defined contribution (DC) retirement pension plans. Generally, employees who participate in these kinds of plans have their annual RRSP contribution limits reduced. I won't comment on these kinds of plans other than to say they exist and if your employer has one, check it out—many employees lose out on free money by not participating. The under-appreciated RESP. Typically used for education savings. A lifetime $50,000 contribution limit per beneficiary, and you can put that all in at once if you're not concerned about maximizing grants (see below). No tax deduction for contributions, but investments grow on a tax-deferred basis. Original contributions can be withdrawn tax-free. Qualified educational withdrawals of earnings are taxed as regular income in the hands of the beneficiary. An RESP beneficiary is typically a child, and in a child's case the Canadian federal government provides matching grant money (called CESG) of 20% on the first $2500 contributed each year, up to age 18, to a lifetime maximum of $7200 per beneficiary. Grant money is subject to additional conditions for withdrawal. While RESPs are typically used to save for a child's future education, there's nothing stopping an adult from opening an RESP for himself. If you've never had one, you can deposit $50,000 of after-tax money to grow on a tax-deferred basis for up to 36 years ... as far as I understand. An adult RESP will not qualify for CESG.
This is a frequent problem for anyone with a large amount of deductions, whether it is student loan interest, home mortgage interest, charitable contributions, or anything else.  As an employee getting your tax withheld from your check, your options to reduce the amount withheld are limited. The HR department has no control over how much they withhold; the amount is calculated using a standard formula based on the number of exemptions you tell them.  The number of exemptions you claim on your W-4 form does not have to match reality. If you currently have 1 exemption claimed, ask them what the withholding would be if you claimed 4 exemptions. If that's not enough, go higher. As long as you are not withholding so little that you have a large tax bill at the end of the year, you are fine.  Of course, when you do your taxes, you need to have the correct number of exemptions claimed on your 1040, but this number does not need to match your W-4.