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Phrases with «taxable year»

The phrase "taxable year" refers to a specific period of time, usually a calendar year, in which individuals and businesses calculate their income and pay taxes on it. It is the time frame used by the government to determine what you owe in taxes based on your earnings during that period. Full definition

Related phrases

Sentences with «taxable year»

  • More precisely, this rule will apply if your withdrawal occurs before the first day of the fifth taxable year after the year of the rollover. (fairmark.com)
  • Any amount payable under this paragraph shall be taken into account in computing the amount of any deduction allowable to the taxpayer for interest paid or accrued during such taxable year. (exeter1031.com)
  • Any money earned off the principal will also become taxable that year and will be subject to an additional 20 % penalty. (moneysense.ca)
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