Taxable accounts are any investment accounts that don't receive tax advantaged treatment—such as 401(k), IRA and Roth IRA accounts.
Individuals, partnerships and corporations can all open taxable investment accounts with as little or as much money as they would like. They also have access to the money at any time. Because you pay taxes on your gains each year, the government doesn't restrict your access to your money.
Taxable Account Basics
Taxable accounts are defined by a few basic features. Once you understand these basic concepts, the rest is just details. Here are the important points you need to remember:
- You pay taxes on the money you put into your taxable accounts
- You pay taxes on your gains each year
- You can take your money out of your taxable account at any time
Video: Taxable Accounts
Now that you've got the basics of what a Roth IRA is, check out the video below and see what else you can learn about Roth IRAs at the whiteboard.
W@LL
- Is My Regular Cash/ Margin Account automaticly ta
|2009-10-20 09:03:06
Do you have to make a Different account that is 1.separate or distinct from a Cash account or Margin account that is Tax deductible?
2.Also what are the Standard restrictions on taking money out of your account and when are you allowed to?
3.What is the usual online broker setup for making transfer from your Portfolio to your personal bank account? Thanks
John Jagerson
- Taxes
|2009-10-20 09:51:18
1. I don't think I understand your question. What do you mean "tax deductible?"
2. Call your broker about restrictions or costs. It will vary but usually you can pull money out whenever you want to.
3. Generally they are very flexible and can accommodate wire transfers or checks. But you will want to check with your broker. They can tell you what they can do and what they can't
W@LL
- I Apologize, not tax deductable but Taxed
|2009-10-20 10:10:00
I'm Sorry for the confusion. the question was do you have to make Different accounts Other than your normal Cash or Margin account so it can be Taxed or are those accounts already Taxed? however i think you answered most of my questions. Another,when you mean wire transfers and checks do you mean i also can use a Bank card/debit/credit, to deposit Cash in my account? Thanks
John Jagerson
- Taxes
|2009-10-20 10:29:13
Stocks and options brokers will rarely allow you to fund an account with a credit card. I don't know this for sure but I don't even think they can (from a regulatory perspective) let you do that.
Forex brokers will - which should tell you something about that market ;)
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