Sentences with phrase «federal tax purposes where»

It's different for Federal tax purposes where we're able to carryback most of our Federal NOLs.

Not exact matches

It stated, ``... the IRS will not assert that any taxpayer has understated his federal tax liability by reason of the receipt or personal use of frequent flyer miles or other in - kind promotional benefits attributable to the taxpayer's business or official travel... This relief does not apply to travel or other promotional benefits that are converted to cash, to compensation that is paid in the form of travel or other promotional benefits, or in other circumstances where these benefits are used for tax avoidance purposes.»

A: There are several sources of income that can not be accepted: Unemployment insurance payments, both State & Federal temporary disability insurance payments, workers compensation or any employment or job where you are paid under the table or monies not declared for tax purposes can not be considered.

Further, Michigan's real estate statute defines an «independent contractor relationship» as a relationship between a real estate broker and an associate broker or real estate salesperson where there is both a written agreement between the parties stating that the associate broker or real estate salesperson is not considered an employee for federal and state income tax purposes and not less than 75 % of the annual compensation paid by the broker to the associate broker or real estate salesperson is from commissions from the sale of real estate.