Phrases with «tax liability»

Tax liability refers to the amount of money a person or entity owes to the government as a result of their taxable income or possessions. It represents their legal obligation to pay taxes to the government based on their financial situation, and failing to fulfill this obligation can have legal consequences. Full definition

Related phrases

income tax liability

estate tax liability

one's estate tax liability

state tax liability

one's state tax liability

Sentences with «tax liability»

If you have a state income tax liability of $ 3,000 in a certain year, you can apply part of your $ 20,000 credit. (nar.realtor)
You've still got time to make some last - minute moves in 2018 that'll lower your overall income tax liability for 2017. (policygenius.com)
This strategy can provide your spouse with additional assets to better utilize his or her applicable exclusion amount, thereby minimizing the combined gift and estate tax liabilities of you and your spouse. (pnc.com)
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Phrases with «tax liability»

Related phrases

Sentences with «tax liability»

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