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Frequently Asked Questions
If I donate$10,000 to a chruch how much do I ...
By: jen | 04-09-2008
If I donate$10,000 to a chruch how much do I actually get credit for? I know I can claim all of it but how much do I actually get to deduct when my taxes are done
What happenes tax wise if i give a stock to my ...
By: DD | 04-09-2008
What happenes tax wise if i give a stock to my child before i die
Questions Concerning Stock Options and Stock Appreciation RIghts
By: Kevin | 03-09-2008
Hello, the company I work for (Barr Labs) is being purchased by Teva. We have been given both Stock Options and Stock Appreciation Rights (SAR's). The transaction is supposed to close near the end of December, 2008.
If we let Teva close or cancel our options and SAR's automatically, we will be paid $66.50 in cash per option/SAR.
If we exercise our options/SAR's prior to the transaction close, then when the transaction closes, we will get $39.90 in cash and 0.6272 shares of Teva stock per each share of Barr Labs stock.
When an SAR is exercised, 38.50% is automatically taken out in taxes versus if we let Teva close our SAR's then the proceeds will be taxed as income.
Several questions:
1. Is the 38.50% tax on the SAR's a special type of tax or is it just a withholding that we will get a refund of if our income tax bracket is less than 38.50%?
2. Is there a tax advantage if we let Teva close our options/SAR's out versus exercising them ourselves?
3. If the BRL stock we own is purchased for $39.90 and 0.6272 shares of Teva stock, would we have to wait a full year to sell the Teva stock to get the Long Term Capital Gains tax advantage or is it considered the "same stock" due to a "change of control"?
4. Can you recommend any other sources of information concerning: Stock options and SAR's during a 'change of control' of companies?
I do not have to pay taxes on social security but ...
By: jt | 02-09-2008
I do not have to pay taxes on social security but do I have to pay on small withdrawal from ira. Am 66 and retired. also receive 186 /month retirement and have paid taxes on that but what is the rule for amount of income before you have to file? Or is that only for earned income . thanks jt
Who take tax leavy out of your pay check
By: mdx59 | 02-09-2008
who take tax leavy out of your pay check
What is a Billion
By: fredst | 02-09-2008
The federal government uses the word "Billion" a lot...
What is a BILLION??This is too true to be funnyThe next time you hear a politician use the word 'billion' in a casual manner, think about whether you want the 'politicians' spending YOUR tax money.A billion is a difficult number to comprehend, but one advertising agency did a good job of putting that figure into some perspective in one of its releases.A. A billion seconds ago it was 1959.B. A billion minutes ago Jesus was alive.C. A billion hours ago our ancestors were living in the Stone Age.D. A billion days ago no-one walked on the earth on two feet.E. A billion dollars ago was only 8 hours and 20 minutes, at the rate our government is spending it.While this thought is still fresh in our bra in, let's take a look at New Orleans It's amazing what you can learn with some simple divisionLouisiana Senator, Mary Landrieu (D), is presently asking the Congress for $250 BILLION to rebuild New Orleans. Interesting number, what does it mean?A. Well, if you are one of 484,674 residents of New Orleans (every man, woman, child), you each get $516,528.B. Or, if you have one of the 188,251 homes in New Orleans , your home gets $1,329,787.C. Or, if you are a family of four, your family gets $2,066,012.Washington, D.C . HELLO!!! ... Are all your calculators broken??xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxAccounts Receivable TaxBuilding Permit TaxCDL License TaxCigarette TaxCorporate Income TaxDog License TaxFederal Income TaxFederal Unemployment Tax (FUTA)Fishing License TaxFood License TaxFuel Perm it TaxGasoline TaxHunting License TaxInheritance TaxInventory TaxIRS Interest Charges (tax on top of tax),IRS Penalties (tax on top of tax),Liquor Tax,Luxury Tax,Marriage License Tax,Medicare Tax,Property Tax,Real Estate Tax,Service charge taxes,Social Security Tax,Road Usage Tax (Truckers),Sales Taxes,Recreational Vehicle Tax,School Tax,State Income Tax,State Unemployment Tax (SUTA),Telephone Federal Excise Tax,Telephone Federal Universal Service Fee Tax,Telephone Federal, State and Local Surcharge Tax,Telephone Minimum Usage Surcharge Tax,Telephone Recurr ing and Non-recurring Charges Tax,Telephone State and Local Tax,Telephone Usage Charge Tax,Utility Tax,Vehicle License Registration Tax,Vehicle Sales Tax,Watercraft Registration Tax,Well Permit Tax,Workers Compensation Tax. < /SPAN>-------------------------------------------------------------STILL THINK THIS IS FUNNY?Not one of these taxes existed 100 years ago,and our nation was the most prosperous in the world.We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids.What happened? Can you spell 'politicians!'And I still have to 'press #1 for English.
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