Sentences with phrase «federal tax rules»

But to make that dream a reality, you have to follow a number of federal tax rules, both when putting money in and when taking money out.

Under current federal tax rules, you generally may take federal income tax - free withdrawals up to your basis (total premiums paid) in the policy or loans from a life insurance policy that is not a Modified Endowment Contract (MEC).

Federal tax rules for nonemployees cause most postdocs to be ineligible to contribute monies to IRA retirement accounts; furthermore, no money is contributed on their behalf to Social Security.

Under current Federal tax rules, loans taken will generally be free of current income tax as long as the policy remains in effect until the insured's death, does not lapse or mature, and is not a modified endowment contract.

Employers must understand the federal tax rules when establishing these plans.

Farmers, and fishermen, for that matter, have unique tax treatment under federal tax rules.

A 401 (k) is an employer - sponsored retirement savings account set up under federal tax rules.

Under some conditions, the federal tax rules consider Social Security benefits, including retirement and disability, as reportable income.

1 Under current federal tax rules, you generally may take income - tax - free partial withdrawals under a life insurance policy that is not a Modified Endowment Contract (MEC) up to your basis in the contract.

Though most states follow the federal tax rules for exempting contributions, a few do tax contributions.

Under current federal tax rules, loans taken will generally be free of current income tax as long as the policy remains in effect until the insured's death, does not lapse or matures, and is not a modified endowment contract.

Under current federal tax rules, loans taken will generally be free of current income tax as long as the policy remains in effect until the insured's death, does not lapse or mature, and is not a modified endowment contract.

The purpose of these two criteria is to be consistent with the tax law's intent that 2017 property taxes are deductible under the 2017 federal tax rules and 2018 property taxes are deductible under the 2018 federal tax rules.

Employers must understand the federal tax rules when establishing these plans.

Under current federal tax rules, loans taken will generally be free of current income tax as long as the policy remains in effect until the insured's death, does not lapse or matures, and is not a modified endowment contract.

2 Under current federal tax rules, you generally may take income - tax - free partial withdrawals under a life insurance policy that is not a Modified Endowment Contract (MEC) up to your basis in the contract.

Under current Federal tax rules, loans taken will generally be free of current income tax as long as the policy remains in effect until the insured's death, does not lapse or mature, and is not a modified endowment contract.

Under current federal tax rules, you generally may take federal income tax - free withdrawals up to your basis (total premiums paid) in the policy or loans from a life insurance policy that is not a Modified Endowment Contract (MEC).

Federal tax rules are closely reviewed, so students learn to easily recognize exchange situations and explain to clients the tax - saving benefits of the 1031 exchange.

Federal tax rules may limit who can take certain deductions based on income, or restrict deductions based on mortgage loan limits.