How are taxes figured on RMD accounts?

Answer Owners of individual retirement accounts (IRAs) are required to begin taking money out of the account when they turn 70½. These required minimum distributions, or RMDs, are taxable in the year th... Read More »

Top Q&A For: How are taxes figured on RMD accounts

How are taxes figured?

Taxes are figured in a wide variety of ways, but the key factors are generally a taxpayer's income, property wealth, profit from investments, price of purchases and similar factors.Income TaxesInco... Read More »

How are property taxes figured?

Property taxes are a financial burden that every homeowner must deal with on a yearly basis. Although most tax bills are included in monthly mortgage payments for homes that are financed, others a... Read More »

Can You Write Off Escrow Accounts for Taxes?

When you make payments through escrow accounts, you can write off the money on your income taxes only if it goes to pay a tax-deductible expense. And the write-off comes only when the money actuall... Read More »

Can I Write off Losses from Investment Accounts on My Taxes?

You can write off net investment losses on your taxes, but only up to a certain amount--$3,000 as of 2009. File Schedule D to claim this write-off. However, you must have actually sold an investmen... Read More »