The Motley Fool

FEBRUARY 5, 2024

Image source: Getty Images The IRS is officially accepting 2023 tax returns, and in the next couple of months, we'll all have to explain to the government what we did with our money last year. You probably expect to pay taxes on the income from your job or retirement account withdrawals if you've already left the workforce.

Taxes 246

Taxes Debt Financial Institutions Liabilities 246

The Motley Fool

NOVEMBER 26, 2024

Image source: Getty Images Paying taxes is something a lot of people only think about when they sit down in April to file a return. But it's helpful to understand the factors that can cause your tax bill to rise. That's a good thing, but the flip side is it may cause you to owe more taxes. First, contribute more to your IRA.

Taxes 130

Taxes Accounting Liabilities Banks 130

The Motley Fool

JANUARY 22, 2024

But along with forming an LLC, filing annual reports for a corporation, or filing business tax returns, now there's a new one called "BOI." In most states, with just some simple paperwork and a small fee, you can set up a small business that has its own separate identity for banking , taxes, and liability purposes.

Legal 246

Legal Taxes Liabilities Banks 246

The Motley Fool

DECEMBER 9, 2024

The non-GAAP tax rate for the quarter was actually 20.1%, which is higher than my 19% guidance. Even as higher tax rate lowered EPS by $0.02, we still hit the high end of my constant currency guidance. Lastly, my EPS guidance for Q3 assumes a base tax rate of 19%. Absolutely, we did better. Next question? Your line is open.

Taxes 245

Taxes Banks Investors Liabilities 245

The Motley Fool

DECEMBER 18, 2023

For most 401(k) plans, you have until the end of 2023 to contribute up to the limit, while IRA investors have until tax day of 2024 (April 15) to hit theirs. This is called tax loss harvesting , and it could potentially reduce your tax liability and eliminate some lemons in your portfolio.

Taxes 246

Taxes Debt Banks Accounting 246

The Motley Fool

APRIL 10, 2024

These accounts offer unique tax advantages you won't find with most other retirement accounts. No taxes on withdrawals The biggest benefit of Roth IRAs is the tax-free withdrawals they offer you in retirement. Theoretically, you could avoid taxes entirely in retirement if you had all Roth savings.

Taxes 244

Taxes Liabilities Accounting Banks 244

The Motley Fool

AUGUST 2, 2024

The tax deduction you receive upfront can help you save more today and build a big nest egg quickly. But eventually, the government wants its tax revenue. And with some clever planning, you could significantly minimize the impact of RMDs on your taxes. You'll be required to pay taxes on the amount you convert.

Taxes 244

Taxes Accounting Liabilities Assets 244

The Motley Fool

OCTOBER 8, 2023

You want to grow your business bank account balance while making smart investments in your company's future, so you don't want to spend on anything unnecessary. Every business should have liability insurance in case it is sued. Here's what they are. So, be sure to pay what you need to get high-quality professional advice.

Legal 246

Legal Taxes Liabilities Banks 246

The Motley Fool

APRIL 18, 2024

Anyone who owns a small business with a legal entity, like a limited liability corporation (LLC) should pay attention to this new rule. Just like filing taxes, if you don't do it, the consequences are severe. banking system. This is much easier than filing taxes ! You cannot afford to miss this deadline.

Legal 246

Legal Taxes Liabilities Banks 246

The Motley Fool

JULY 13, 2024

Image source: Getty Images According to a report by the Swiss bank UBS, 6.6% They take advantage of tax deductions Millionaires have learned that minimizing their tax liability is an overall strategy for protecting their personal finances. of us living in the U.S. are millionaires.

Taxes 246

Taxes Debt Depreciation Finance 246

The Motley Fool

OCTOBER 28, 2023

But another reason to do this is to save time and minimize stress during the upcoming tax season. Review documents like your bank statements, business credit card statements, payroll reports, and balance sheet, and make sure you know where everything is. As we approach Dec. 31, now is an ideal time to get your finances in order.

Taxes 246

Taxes Liabilities Finance Financing 246

The Motley Fool

MARCH 19, 2025

You know, curious, if anything, what you're taking from a balance sheet or liability standpoint besides the rights contracts at fair market value. I'll take the first part and leave them, the liability and the people, to Craig. And now, I'll hand it over to Craig for the people and for the liabilities. Your line is now open.

Leveraging 245

Leveraging Assets Liabilities Shareholders 245

The Motley Fool

JULY 6, 2024

If so, it doesn't have to break the bank. This separation not only protects your personal assets from business liabilities, but can also offer potential tax benefits. Open a business bank account: Many banks offer specialized accounts designed for small businesses, some even at no cost.

Legal 245

Legal Startups Banks Taxes 245

The Motley Fool

MAY 29, 2024

But that's the thing: Retiring with enough money in the bank to live comfortably without a steady paycheck is a goal -- it's not a guarantee. While investors can buy and sell stocks in their brokerage account at any given time, the opportunity cost is paying capital gains taxes. Achieving financial freedom is a respectable goal.

Taxes 245

Taxes Mutual Funds Passive Investors Accounting 245

The Motley Fool

JANUARY 6, 2025

The result included a 264 million after-tax charge for litigation expense as a result of a verdict the company intends to appeal. Excluding an approximate 265 million after-tax charge related to the litigation accrual, adjusted earnings for the quarter totaled 88.5 Sathish Kasinathan -- Bank of America Merrill Lynch -- Analyst Yeah.

Securities and Exchange Commission (SEC) 246

Securities and Exchange Commission (SEC) Capital Banks Shareholders 246

The Motley Fool

AUGUST 31, 2023

So it's good to learn that as of August, 401(k) balances had increased by $7,250 since the end of 2022, according to data from Bank of America. You might also create a tax liability for yourself since traditional 401(k) withdrawals are subject to taxes. And that's a not-so-favorable statistic.

Liabilities 246

Liabilities Taxes Accounting Banks 246

The Motley Fool

SEPTEMBER 20, 2023

Berkshire Hathaway also owns a massive portfolio of stocks that includes some of the largest and most successful companies in the world, such as Apple , Bank of America (NYSE: BAC) , and American Express. This approach allows him to benefit from the power of compounding and avoid unnecessary taxes.

Conglomerates 234

Conglomerates Banks Liabilities Prospects 234

The Motley Fool

MAY 8, 2024

Your side hustle should be putting piles of extra cash in your bank account , not just giving your friends free cupcakes. But if you're starting to make serious money from your side hustle, forming a limited liability company (LLC) or other legal business entity could be a good move. It lets you open a business bank account.

Legal 244

Legal Consulting Consultants Liabilities 244

The Motley Fool

JUNE 23, 2024

Use low-cost business marketing software Even if your small business is just getting started, or you don't have much money in the bank, you can make your business look bigger and well-established with small business marketing tools. Forming an LLC can help you get a business bank account , and potentially save yourself money on taxes.

Startups 233

Startups Banks Legal Liabilities 233

The Motley Fool

NOVEMBER 21, 2024

We've transformed the company from a tax and accounting platform to an AI-driven expert platform. Starting with our consumer platform, Big Bet 3 is focused on helping customers make smart money decisions, take steps to improve their financial health year round, achieve their best tax outcome, and accelerate the receipt of their refund.

Taxes 130

Taxes Accounting Leveraging Capital 130

The Motley Fool

OCTOBER 31, 2024

On the institutional side, our continued leadership in pension risk transfer was reinforced through a second transaction with IBM, this time to reinsure $6 billion of pension liabilities. We also maintain a well-diversified, high-quality portfolio and disciplined approach to asset liability management. on an after-tax basis.

Liabilities 130

Liabilities Assets Capital Shareholders 130

The Motley Fool

APRIL 16, 2024

You might also want to open a new bank account that is separate from your usual checking account where you get your paycheck. Keeping your side hustle money separate from your usual personal finances can help make it easier to track your income and any tax-deductible business expenses.

Taxes 246

Taxes Legal Liabilities Finance 246

The Motley Fool

JANUARY 16, 2025

Bank of America (NYSE: BAC) Q4 2024 Earnings Call Jan 16, 2025 , 11:00 a.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good day, everyone, and welcome to today's Q4 Bank of America earnings announcement. Should you invest $1,000 in Bank of America right now? That is $0.82

Banks 130

Banks Leveraging Capital Accounting 130

The Motley Fool

JULY 6, 2023

These include retirement age, cash-flow needs, income sources, tax liabilities, and inflation. It's important to calculate the amount you've banked relative to the amount you've spent. Set measurable goals There are a lot of variables that determine your required retirement savings.

Liabilities 246

Liabilities Debt Banks Taxes 246

The Motley Fool

DECEMBER 9, 2024

million in capital expenditures and principal repayments of finance lease liabilities, free cash flow was $34.6 Note that the non-GAAP net income per share guidance for the fourth-quarter and full-fiscal year 2025 includes a non-GAAP tax provision of approximately 20%. Operating cash flow in the third quarter was $37.4

Education 242

Education Professional Services Leveraging Accounting 242

The Motley Fool

DECEMBER 11, 2024

AI innovations delivered in the premium tiers, and add-ons helped us close our largest bookings quarter ever, with key global customer wins, including Air Canada, Allianz, American Express, Bank of America, BMW, Centene, CIBC, Cisco, Disney, Fanatics, GAP, GM, JPMorgan Chase, PayPal, Samsung, Tesco, and Wells Fargo. on a GAAP basis and 18.5%

Education 243

Education Leveraging Taxes Portfolios 243

The Motley Fool

JANUARY 23, 2025

Our fourth quarter adjusted effective tax rate was 25.4%, compared to 22.3% For the year, our adjusted tax rate was 20.5%, a decrease of 150 basis points from 2023, driven by a greater level of discrete tax benefits than in the prior year. Our next question is coming from the line of Peter Galbo with Bank of America.

Finance 223

Finance Financing Taxes Capital 223

The Motley Fool

DECEMBER 5, 2023

The intimation is that the replacement of these cables, along with potential health-related liabilities, could be quite costly for telecom companies. It also fails to consider that any liability costs (if there are any) would be determined in the U.S. court system, and that would likely be a long process.

Debt 246

Debt Liabilities Assets Capital 246

The Motley Fool

DECEMBER 19, 2024

And finally, it has enabled the consistent and predictable takedown of just in time delivered fully developed home site, and that has attracted capital to the structured land banking partnerships that have driven the nearly $20 billion of transaction that have enabled our land-light transformation to date. With the focus on being asset-light.

Assets 242

Assets Debt Capital Banks 242

The Motley Fool

NOVEMBER 28, 2023

Consumer group revenue growth reflects a strong finish to the tax extension season. We remain focused on transforming the assisted consumer and business tax categories with TurboTax Live. Our innovation in tax has accelerated in several areas. We believe this is Intuit's most exciting era yet. Third, QuickBooks.

Taxes 246

Taxes Accounting Best Practices Banks 246

The Motley Fool

FEBRUARY 13, 2025

Excluding the impact of interest and taxes, we expect bottom-line growth of 8% to 10%, reflecting the strength of our business fundamentals and the robust secular trends driving our industry. Our adjusted effective tax rate for 2025 is expected to be approximately 21%. Adjusted net income is expected to be in the range of $2.7

Education 243

Education Taxes Portfolios Leveraging 243

The Motley Fool

JANUARY 22, 2025

Excluding after-tax intangible asset amortization expense and special items for both periods, adjusted net earnings for the quarter were $4.9 Regarding taxes in the quarter, our effective tax rate was 11.7%, versus 14.4% Excluding special items, the effective tax rate was 8.8%, versus 10.8% Turning now to earnings.

Taxes 130

Taxes Portfolios Debt Assets 130

The Motley Fool

FEBRUARY 22, 2024

Let's start with tax. Tax preparation represents a $35 billion TAM. This includes $31 billion within the assisted consumer and business tax categories, which we have barely started to penetrate. Second, small businesses can file their taxes with TurboTax. Let me share more about the areas of focus this season.

Taxes 243

Taxes Accounting Leveraging Banks 243

The Motley Fool

OCTOBER 18, 2023

Mercedes is accepting legal liability for when it's Level 3 autonomous driving system drive pilot is active. Is Tesla planning to accept legal liability for FSD? Elon Musk Well, there's a lot of people that assume we have legal liability judging by the lawsuits. Even if they planned out credit, there's fewer banks together.

Liabilities 246

Liabilities Banks Legal Taxes 246

The Motley Fool

NOVEMBER 23, 2024

So if you made money in your brokerage account this year, you've created a tax bill for yourself. If that applies to you, and you didn't pay estimated taxes on those earnings, then you may end up having to write the IRS a check this coming April. And even if you earned $0 from your bank, you probably still earned a paycheck.

Accounting 130

Accounting Taxes Liabilities Banks 130

The Motley Fool

FEBRUARY 12, 2025

Our next question comes from Peter Galbo with Bank of America. I wanted to dig in a little bit on the increase in your tax rate, if I could, into 2025. I don't think any of them have really talked about quite the increase in tax that you're about to experience. Andrew Lazar -- Analyst Great. Thanks so much. Operator Thank you.

Taxes 130

Taxes Leveraging Returns Liabilities 130

The Motley Fool

APRIL 24, 2024

Mike will comment more on the pipeline in a minute, but I'll spill a little bit of this thunder and tell you we're continuing to see super attractive opportunities in the bulk market, which we believe reflects the shakeout going on in the industry with banks pulling back from the asset class and originators seeking a source of liquidity.

Leveraging 246

Leveraging Amortization Bidding Collateral 246