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This form should make its way to you by January 31 each year and will detail exactly how much interest was paid on the account and must be reported on your taxes. You should expect to pay taxes on ...
Health savings account (HSA): HSAs are tax-advantaged savings accounts that allow you to earn interest tax-free as long as you use the money to pay for qualified medical expenses. Make sure you ...
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Net investment income tax: Net investment income is subject to an additional 3.8% tax for individuals with income in excess of certain thresholds. Tax returns: U.S. corporations and most resident individuals must file income tax returns to self assess income tax if any tax is due or to claim a tax refund.
Security segregation or client funds, in the context of the securities industry, refers to regulatory rules requiring that customer assets held by a financial institution (generally a brokerage firm) be held separate from assets of the brokerage firm itself in a segregated account and that there is no commingling.
A securities account, sometimes known as a brokerage account, is an account which holds financial assets such as securities on behalf of an investor with a bank, broker or custodian. Investors and traders typically have a securities account with the broker or bank they use to buy and sell securities. [1]
Every Citibank account, including checking, savings, and CD accounts, are FDIC insured. What that means is that each account is automatically insured for up to $250,000 per depositor.
If, instead the firm finances with debt, then, assuming the firm owes $100 of interest to investors, its profits are now 0. Investors now pay taxes on their interest income, say $30. This implies for $100 of profits before taxes, investors got $70. [1] This tax-related encouragement of debt financing has not gone uncriticized. [2]