Sentences with phrase «dollar tax liability»

Currently representing client asserting malpractice against major accounting firm resulting in a multi-million dollar tax liability owed to the State of Connecticut.

A province could issue a bond that is used to extinguish Canadian dollar tax liabilities to the province.

Not exact matches

To meet tax liabilities, investors are selling bitcoin, which could mean «massive» selling into U.S. dollars ahead of the April 17 tax filing deadline, Lee said.

To meet tax liabilities, investors are selling bitcoin, which could mean «massive» selling into U.S. dollars ahead of the April 17 tax filing deadline, Lee says.

Credits reduce tax liability dollar for dollar for the amount of credit.

A tax credit provides a dollar - for - dollar reduction of your income tax liability.

But if the state issued a dollar - for - dollar state tax credit for charitable contributions made to, say, the state's general infrastructure fund, the first $ 6,000 donated, though reducing state tax liability by $ 6,000, does nothing to lower federal taxes owed because the taxpayer would still take the standard deduction.

The Skelos complaint shows how the multiple Limited Liability Companies, or LLCs, controlled by Glenwood can be used to coordinate and bundle hundreds of thousands of dollars of campaign contributions in order to buy favorable policy outcomes and tax breaks.

LIHC provides a dollar - for - dollar reduction in federal income tax liability for project owners who develop rental housing that serves low - income households with incomes up to 60 % of area median income.

granted Riley's limited liability company, Syracuse Community Hotel Restoration Company 1, millions of dollars in property tax breaks to redevelop the 93 - year - old building, which contained pipes and wiring installed during the 1920s.

Under Walsh's leadership, the Syracuse Industrial Development Agency granted Riley's limited liability company, Syracuse Community Hotel Restoration Company 1, millions of dollars in property tax breaks to redevelop the 93 - year - old building, which contained pipes and wiring installed during the 1920s.

In a Nov. 15 letter to Speaker Paul Ryan, R - Wis., and Minority Leader Nancy Pelosi, D - Calif., a broad array of scientific and engineering societies called on House leaders to drop provisions in the tax bill (H.R. 1) that would eliminate tax credits, known as the Lifetime Learning Credit and the Hope Scholarship Credit, that alleviate the financial strain of higher education by providing a dollar - for - dollar reduction in the income tax liability of eligible students.

Members can also become certified millionaires by submitting financial information in the form of a tax return from the previous financial year that illustrates earnings of over $ 150,000 US dollars, a bank statement showing earnings of over $ 150,000 during the current financial year or documents proving net assets — after deducting all liabilities — of over $ 1 million.

[6] The columns in the table address: a) the vehicle by which funding is delivered (e.g., tax expenditure vs. social program); b) the particulars of that funding vehicle (e.g., payments to individuals vs. program providers or states); c) the dollar value of the benefit to a family; d) whether the tax benefits are refundable (provide refunds to low income families in excess of their tax liability); e) whether the benefits are progressive (inverse to family income); f) the total annual program expenditure that is conditional on children (e.g., spending on housing vouchers that goes to families without children is excluded); and g) the estimated portion of the total expenditure that goes to children under five years of age.

Here's how it works: Donors to these scholarship funds can offset their state tax liability by 70 to 100 cents for every dollar given.

Donors could reduce their tax liability by 75 % of their donations up to a full million dollars.

C - Corporations, S - Corporations and insurance companies with an Arizona corporate income tax liability or insurance premium tax liability can redirect up to 100 % of that liability to a state approved School Tuition Organization and receive a dollar - for - dollar tax credit for their contribution.

Enacted in 1997 and the nation's longest running scholarship tax credit program, the Individual Scholarship Tax Credit Program provides all Arizona taxpayers the opportunity to contribute directly to a School Tuition Organization (STO) and receive a dollar - for - dollar tax credit against their Arizona state tax liabilitax credit program, the Individual Scholarship Tax Credit Program provides all Arizona taxpayers the opportunity to contribute directly to a School Tuition Organization (STO) and receive a dollar - for - dollar tax credit against their Arizona state tax liabiliTax Credit Program provides all Arizona taxpayers the opportunity to contribute directly to a School Tuition Organization (STO) and receive a dollar - for - dollar tax credit against their Arizona state tax liabilitax credit against their Arizona state tax liabilitax liability.

Deductions reduce your taxable income while credits typically are a dollar for dollar reduction in your total tax liability.

The state credits this money towards your tax liability, dollar for dollar.

A tax credit is a dollar - for - dollar reduction of your tax liability.

By volunteering to pay tax on $ 5,000 in the year you received the stock, you reduced your overall tax liability by tens of thousands of dollars.

However, the Internal Revenue Service treats the cancelled debt as income, which can result in tens of thousands of dollars in tax liability that generally accrues in a lump sum in the quarter in which the debt is cancelled.

If that's the case, selling half your holdings this year and half next year would still result in the same overall tax liability (assuming the value of the holdings don't change), and there isn't a lot of value in deferring a few thousand dollars in taxes for 12 months.

Deductions are expenses that can be subtracted from gross income to reduce taxable income; credits reduce tax liability dollar - for - dollar and have a greater impact than deductions; exemptions occur where a tax for a certain item or type of income is reduced or eliminated.

We also report several other measures in our distribution tables including the share of the tax cut received, and the size of the tax cut in both absolute dollars and as a percentage of initial tax liability.

Tax credits provide a dollar - for dollar reduction of your income tax liabiliTax credits provide a dollar - for dollar reduction of your income tax liabilitax liability.

Tuition and fees deduction Education credits aren't the only ways to shave a few dollars off your tax liability.

Tax credits provide a dollar - for - dollar reduction of your income tax liabiliTax credits provide a dollar - for - dollar reduction of your income tax liabilitax liability.

Credits offer a tax benefit by reducing your tax liability on a dollar - for - dollar basis.

A Roth IRA uses post-tax dollars, reducing your tax liability on eventual disbursements.

While the credit is «non-refundable,» it would decrease a borrower's tax liability on a dollar - for - dollar basis.

Each credit reduces your tax liability dollar - for - dollar, as does any credit, but they differ in many ways, such as how the credit is calculated, who qualifies, what expenses qualify, and more.

Tax credits are subtracted not from taxable income, but directly from a person's tax liability; they therefore reduce taxes dollar for dollTax credits are subtracted not from taxable income, but directly from a person's tax liability; they therefore reduce taxes dollar for dolltax liability; they therefore reduce taxes dollar for dollar.

It's not as good as a dollar for dollar reduction in your tax liability, but it can reduce how much you owe over all.

«The student loan interest deduction lets borrowers deduct up to $ 2,500 a year in interest on federal and private student loans, reducing your tax liability by a few hundred dollars,» Kantrowitz said.

It is a dollar - for - dollar reduction against your federal tax liability.

Tax credits can help reduce your liability dollar - for - dollar.

On the other hand, tax credits provide a dollar - for dollar reduction of your income tax liability.

Tax credits, on the other hand, provide a dollar - for dollar reduction of your income tax liabiliTax credits, on the other hand, provide a dollar - for dollar reduction of your income tax liabilitax liability.

Since the amount of damages paid by a city or county will be paid by tax dollars, government entities get special consideration under the law (meaning their liability is capped).

The court found the parties» agreement as incorporated in the final decree was unambiguous and contemplated that the responsibility for any capital gains tax liability generated by the sale of certain stock in Coca - Cola Enterprises, Inc., [which had increased the parties net worth by several million dollars] would be shared equally by the parties....

Until now, spouses paying alimony have been permitted to deduct the entire dollar amount from their earned income, lowering their overall tax liability.

Qualified retirement accounts — Because they are funded with pre-tax dollars, retirement accounts such as 401K and IRA accounts contain built - in tax liabilities that should be considered when assessing their net value.

It offers several unique ways to address your estate tax and income tax liabilities while resolving those tax issues for pennies on the dollar.

However, it is our understanding that the adoption tax credit of $ 10,000 (plus adjustment for inflation) is a dollar - for - dollar reduction of your tax liabilities.

With some help from a financial specialist in the collaborative process, and after several collaborative law sessions, Springfield Collaborative Divorce and the collaborative team were able to devise a way to divide pre-tax assets, Canadian dollars, U.S. investments and cash, and the potential tax liabilities in a way that was fair and equitable to both parties.

CFBT is the number of dollars a property generates in a given year after all expenses but in turn still subject to the real estate investor's income tax liability.

Remember that a tax credit is a dollar - for - dollar reduction of your tax liability.

My question is, why should I pay a tax preparer $ 4,000 (in 1990 dollars) to prepare my tax return when I can use a random number generator to determine my tax liability and in all likely - hood have an answer no worse than a «tax pro», and save myself $ 4k + probably an additional $ 4 to defend the non-sense in an audit?