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Latest revision as of 05:47, 25 February 2025
Income protection insurance could be critical in troubled times. It is also known as job loss insurance or redundancy insurance within the UK and within some other countries. The policy protects the insured person against any partial or total income loss. The loss could have been due to varied reasons regarding example loss of job, the company winding up, reduction of pay, or even an accident or illness because of which the person had in giving up work. However do bear in mind that income protection insurance does not cover any pre-existing complaints.
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Congress finally acted on New Year's Day, passing the "fiscal cliff" rule. This law extended the existing tax rate structure for single taxpayers with taxable income of reduce USD 400,000, and married taxpayers with taxable income of less than USD 450,000. For individuals with higher incomes, the top tax rate was increased to 40.6% These limits are determined before the foreign earned income exception to this rule.
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Canadian investors are prone to tax on 50% of capital gains received from investment and allowed to deduct 50% of capital losses. In U.S. the tax rate on eligible dividends and long term capital gains is 0% for those in the 10% and 15% income tax brackets in 2008, 2009, and brand-new year. Other will pay will be taxed at the taxpayer's ordinary income tax rate. Could be generally 20%.
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