Sentences with phrase «federal tax purposes because»

Not exact matches

But taxpayers would, the argument goes, be allowed to fully deduct the amount on their federal tax returns because the new law still allows most charitable giving to be deducted for federal tax purposes.

Riverwalk is an easy target because it is highly visible, has a large price tag, and is financed with a federal loan backed by a local motor fuel tax that, some argue, could be better used for purposes such as municipal schools.

The group incentive nature of employee stock ownership and profit sharing makes this an effective way to create and reinforce a sense of common purpose, and to encourage higher commitment and productivity.23 It is also the case with ESOPs that the new ownership might not be viewed by the firm in the same way as other added compensation because the ownership is financed through loans to buy new capital as company stock, with Federal tax incentives, and the shares are not paid as normal wages and benefits out of company budget reserved for this purpose.

• the Trust fails to qualify for treatment, or ceases to be treated, as a grantor trust for US federal income tax purposes, and the Trustee receives notice from the Sponsor that the Sponsor determines that, because of that tax treatment or change in tax treatment, termination of the Trust is advisable;

the Trust fails to qualify for treatment, or ceases to be treated, as a grantor trust for US federal income tax purposes, and the Trustee receives notice from the Sponsor that, because of that tax treatment or change in tax treatment, termination of the Trust is advisable;

Since contributions would be both deductible and trigger the credit, the effective credit would be between 91 percent and 94 percent.31 This proposal provides relief from the SALT cap because the contribution can be deducted from income for federal tax purposes, just as the State and local tax was prior to TCJA.

But DOMA reaches beyond just taxes; it impacts everything at the federal level because for all federal purposes, same - sex married couples are considered legal strangers.

The federal government determined that millions in taxes were being drained off each year because of the way investment property sales have been treated for tax purposes.

Because transfers to an IDGT are completed gifts for Federal estate and gift tax purposes, lifetime transfers to IDGTs consume the donor's gift tax exemption.

The income taxes decrease the grantor's estate, and, because the taxes are on income treated as the grantor's for income tax purposes, they are not treated as gifts for Federal gift tax purposes.

You want to use it for estate planning purposes because you're set to owe federal or state estate taxes on your assets

You want to use it for estate planning purposes because you're set to owe federal or state estate taxes on your assets