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Video instructions and help with filling out and completing simple ira compensation definition

Instructions and Help about simple ira compensation definition

You an annuity is a financial product are sold by life insurance companies to help you generate a fixed regular income for the rest of your life so let me explain how this works you pay a lump sum amount to the insurance company say 10 lakh rupees in return the insurance company will pay you let's say around 70 thousand rupees every year for the rest of your life of course you can choose to take the 70 thousand on a monthly quarterly half-yearly or on an annual basis now let me explain with the help of a pension plan and how it works in India so say at the age of 35 you buy a pension plan invests regularly for the next 25 years and at the age of 60 you have accumulated an amount of 24 lakhs as per the current rules of the insurance regulator you can only withdraw one-third of this amount for some urgent personal requirement so out of this 24 lakhs 8 lakhs can be withdrawn for some personal requirement at that time the rest of the 16 lakhs have to be invested in purchasing an annuity from the same insurance company you can of course choose to use the entire 24 lakhs to purchase an annuity from the insurance company now when you make this lump sum payment to the insurance company they fix an interest rate at which they will pay you on a regular basis so let us assume that you have a 7% interest rate on 24 lakhs at 7% interest rate they will make a payment of one lakh sixty eight thousand to you every year no matter what this interest rate doesn't change and that is the advantage of purchasing an annuity the insurance company makes money in case they can use the capital which you have invested to generate income greater than 7% so in case they've invested in some instruments which are generating 9% returns the 2% is what they make they of course stand to lose in case they make less than 7% on the money invested by you the annuities also offers some options the highest return option of course is one in which you invest a lump sum and they pay you a regular amount till the end of your life the second option is they pay you a regular amount plus return the amount which you have invested to your nominee the third option is after your are death they pay your nominee till her death so in case you have taken a policy after your death you are normally your wife spouse whoever it is continues to receive the pension till the end of that person's lifetime there may be a few more variations of these payouts which are made to you by different insurance companies so it is best to check which option suits you the best now coming to the part on interest rates different insurance companies.

FAQ

I need help filling out this IRA form to withdraw money. How do I fill this out?
I am confused on the highlighted part.
How much can you contribute to both a Roth IRA and a SIMPLE IRA in the same tax year?
Mike and Wray are correct and offer some great information in their posts. Just to reiterate, yes you may contribute the max to both a Roth and a SIMPLE assuming you fall below the MAGI limit.Also, if you are married you might be able to open a spousal IRA/Roth for your spouse if you are under the aforementioned MAGI limits. Thus, even if your spouse isn't working you can open a Roth or traditional IRA and make a deductible contribution to his/her account. Assuming you fall below the phaseout limits and your spouse qualifies, you could contribute an additional $5K (deductible).
I recently opened a Fidelity Roth IRA and it says my account is closed and I need to submit a W-9 form. Can anyone explain how this form relates to an IRA and why I need to fill it out?
Financial institutions are required to obtain tax ID numbers when opening an account, and the fact that it's an IRA doesn't exempt them from that requirement. They shouldn't have opened it without the W-9 in the first place, but apparently they did. So now they had to close it until they get the required documentation.
How can you explain black holes to a kid?
Black Holes: The Hungriest Objects in Space!What are black holes?Have you ever had to vacuum your bedroom? When you do, watch closely because you will see the dirt and crumbs start to move towards the vacuum cleaner. A black hole is similar to a vacuum cleaner, cleaning up debris left behind in outer space.However, it is not suction power that makes things fall into a black hole. Suction would not be strong enough. Instead, a black hole uses the power of gravity to pull things towards it.How do black holes form? When a large star runs out of fuel it can no longer support its heavy weight. The pressure from the star's massive layers of hydrpress down forcing the star to get smaller and smaller and smaller. Eventually the star will get even smaller than an atom. Imagine that for a moment, an entire star squashed up into less space than a tiny atom.How can something get smaller but retain the same amount of mass, or stuff?It is really quite simple. If you take a sponge the size of a soda can, you can easily squish it in your hands until it is completely covered. But here is the interesting part. If you make something smaller by squishing it, its gravity becomes much stronger. Imagine then, if you squish a star into the size of an atom how powerful its gravity would become.A black hole's gravity becomes so powerful that anything, including light that gets too close, gets pulled in. That's right, not even light can escape the grasp of a black hole.Anatomy of a Black HoleBlack holes are made up of 3 main parts. The very outer layer of a black hole is called the Outer Event Horizon. Within the Outer Event Horizon you would still be able to escape from a black hole's gravity because the gravity is not as strong here. The middle layer of a black hole is called the Inner Event Horizon. If you didn't escape the black hole's gravity before you entered the Inner Event Horizon, then you have missed your chance to escape. The gravity in this layer is much stronger and does not let go of objects it captures. At this point you would begin to fall towards the center of the black hole. The center of a black hole is called the Singularity. This is simply a big word that means squashed up star. The Singularity is where the black hole's gravity is the strongest.How can you fall into a black hole?Think of the Earth. When you are in outer space you can float around. If you get too close to the Earth you will be pulled in by its gravity. On the Earth, you could leave again in a rocket ship. However, if you fall into a black hole, there would be no way to get out because the gravity is so powerful.Have you ever heard of a black hole? You might well have done. But we are not talking about a hole in the ground, we are talking about the ones that astronomers believe exist in our gigantic Universe. Despite their name, scientists believe that there is a lot more to these objects. So what exactly is a black hole?If you were to ask an astronomer this question, they are most likely to say that a black hole must be one of the most strangest objects ever. They are almost like an incredibly strong vacuum cleaner without the noise - not only would the crumbs from under your bed be unable to escape, but anything that happens to travel past would have a hard job trying to wriggle free from its clutches, too. Do you know what causes a black hole to gobble up everything in sight? Have a go at guessing what the answer might be before you carry on reading. Perhaps you can get into a group with your friends and think of some answers - drawing pictures of a black hole might be able to help you to figure it out!Credit: Black Holes - Part 2 - Astronomy For Kids - KidsAstronomy.com
I received Worker's Compensation in 2021. how could I find out how much I received in payments for filling out the FAFSA?
US workers compensation insurance carriers, third party claims administrators and self insureds all keep detailed records on how much they have paid on a  given claim. It is broken down into medical payments and indemnity payments and claim expenses.For FAFSA's purposes , you want the indemnity payments which consists of lost time benefits and any settlement or award for your wage loss or disability.If you received a settlement or an award that was paid in a lump sum, it may have been a blend of medical and indemnity which makes it harder to break into accurate components. If there was a settlement, the document itself may recite how much was allocated to disability , disputed lost time, etc.Usually when a person has a lawyer, the carrier will not  ( is ethically prohibited , actually) from talking directly to the claimant. However,  for administrative  things, the claim adjuster should be willing to give you the information needed. If the case is being litigated, your lawyers office needs to make the call. Regardless, it is simple and easy to retrieve on the carrier's end.There will not be a 1099 or W2. Also, worker's compensation benefits are not  considered income under the Internal Revenue Code, so look carefully at the way FAFSA asks the question- you may not need this after all.
How does one get invited to the Quora Partner Program? What criteria do they use, or is it completely random?
I live in Germany. I got an invite to the Quora partner program the day I landed in USA for a business trip. So from what I understand, irrespective of the number of views on your answers, there is some additional eligibility criteria for you to even get an email invite.If you read the terms of service, point 1 states:Eligibility. You must be located in the United States to participate in this Program. If you are a Quora employee, you are eligible to participate and earn up to a maximum of $200 USD a month. You also agree to be bound by the Platform Terms (https://www.quora.com/about/tos) as a condition of participation.Again, if you check the FAQ section:How can other people I know .participate?The program is invite-only at this time, but we intend to open it up to more people as time goes on.So my guess is that Quora is currently targeting people based out of USA, who are active on Quora, may or may not be answering questions frequently ( I have not answered questions frequently in the past year or so) and have a certain number of consistent answer views.Edit 1: Thanks to @Anita Scotch, I got to know that the Quora partner program is now available for other countries too. Copying Anuta’s comment here:If you reside in one of the Countries, The Quora Partner Program is active in, you are eligible to participate in the program.” ( I read more will be added, at some point, but here are the countries, currently eligible at this writing,) U.S., Japan, Germany, Spain, France, United Kingdom, Italy and Australia.11/14/2018Edit 2 : Here is the latest list of countries with 3 new additions eligible for the Quora Partner program:U.S., Japan, Germany, Spain, France, United Kingdom, Italy, Canada, Australia, Indonesia, India and Brazil.Thanks to Monoswita Rez for informing me about this update.
How can I get more people to fill out my survey?
Make it compellingQuickly and clearly make these points:Who you are and why you are doing thisHow long it takesWhats in it for me -- why should someone help you by completing the surveyExample: "Please spend 3 minutes helping me make it easier to learn Mathematics. Answer 8 short questions for my eternal gratitude and (optional) credit on my research findings. Thank you SO MUCH for helping."Make it convenientKeep it shortShow up at the right place and time -- when people have the time and inclination to help. For example, when students are planning their schedules. Reward participationOffer gift cards, eBooks, study tips, or some other incentive for helping.Test and refineTest out different offers and even different question wording and ordering to learn which has the best response rate, then send more invitations to the offer with the highest response rate.Reward referralsIf offering a reward, increase it for referrals. Include a custom invite link that tracks referrals.
How many people became atheist to fill the void created by the lack of simple faith in something?
I don't think that anyone becomes an atheist. They merely remove a past belief from their life if they were once religious or they have never been religious to begin with and chose to remain so. It is akin to ceasing to believe in Santa. It doesn't brand us as becoming Santaless for the rest of our lives. We stop believing in Santa because we realise there is no proof of his existence, as much as we may want there to be. I certainly do.It seems that what many religious people fail to understand is that both theists and atheists have a vast array of things and people to have faith in, without mention of the faith in a God. We have faith in our friends and families, in our jobs, mode of transport and in ourselves, to name but a few of many.I think faith is a wonderful thing, including religious faith for those who believe it and find peace or support through it. No decent non-believer would ever ridicule that. But I personally don't feel there is a void to fill as an ex-Catholic. I felt greatly unburdened when I stopped believing unquestioningly and did my own thinking and research. It did not change my morals. If anything it made me take more responsibility for myself and my interaction with the world around me. I, as an atheist, just get on with my life and try to do my best for my family and for others. I don't wear a badge that says "I'm an atheist" and I don't mention it unless questioned. It's a non-issue to me for the most part.Thank you for asking an interesting question that made me think. I appreciate that.
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