Sentences with phrase «for income tax purposes on»

That's the amount you report as taxable for income tax purposes on Form 1040.

Not exact matches

We focus on income differences, since that is how lower -, middle - and upper - income classes are defined for tax purposes.

Based on these numbers, the insanely rich aren't using that many loopholes to shield income from taxes, since all the data is based on reported income for tax purposes.

A participant who is granted an ISO does not recognize taxable income at the time the ISO is granted or upon its exercise, but the excess of the aggregate fair market value of the shares acquired on the exercise date (ISO shares) over the aggregate exercise price paid by the participant is included in the participant's income for alternative minimum tax purposes.

Section 162 (m) of the Internal Revenue Code imposes limitations on the deductibility for corporate federal income tax purposes of remuneration in excess of $ 1 million paid to the chief executive officer, chief financial officer and each of the three next most highly compensated executive officers of a public company.

Special rules may apply with respect to certain subsequent sales of the Shares in a disqualifying disposition, certain basis adjustments for purposes of computing the alternative minimum taxable income on a subsequent sale of the Shares and certain tax credits which may arise with respect to optionees subject to the alternative minimum tax.

However, your government is already on record for its commitment to allow families with children under the age of 18 to split income for tax purposes; to extend the fitness tax credit to adults; to raise the threshold for Tax Free Savings Accounts to $ 10,000; and to reduce government detax purposes; to extend the fitness tax credit to adults; to raise the threshold for Tax Free Savings Accounts to $ 10,000; and to reduce government detax credit to adults; to raise the threshold for Tax Free Savings Accounts to $ 10,000; and to reduce government deTax Free Savings Accounts to $ 10,000; and to reduce government debt.

The Fixed Income Analysis tool is designed for educational purposes only and you should not rely on it as the primary basis for your investment, financial or tax planning decisions.

If an entity or arrangement treated as a partnership for U.S. federal income tax purposes holds shares of our common stock, the tax treatment of a person treated as a partner generally will depend on the status of the partner and the activities of the partnership.

I would personally recommend you reduce equity exposure to 60 % total if and when there is a correction in the bond market, specifically muni bonds for tax purposes based on your income.

If we pay distributions on our common stock, those distributions generally will constitute dividends for U.S. federal income tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under U.S. federal income tax principles.

Accordingly, notwithstanding receipt of the IRS private letter ruling and / or opinions of counsel or other external tax advisors, the IRS could determine that the distribution and certain related transactions should be treated as taxable transactions for U.S. federal income tax purposes if it determines that any of the facts, assumptions, representations, statements or undertakings that were included in the request for the IRS private letter ruling or on which any opinion was based are false or have been violated.

However, if we do make distributions on our Class A common stock, those payments will constitute dividends for U.S. tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under U.S. federal income tax principles.

@Vince If you are French resident for tax purposes, I would have thought you would be liable for French income tax on all investment income, including dividends from UK investments.

Income which is not shown on tax returns or not yet claimed can not be used for mortgage qualification purposes.

Taxes: Investors should note that even though the dividends are reinvested and that no cash from the dividends was paid to the investor, for federal income tax purposes, the investor will be treated as having received dividend income on the dividend payment date.

The potential tax benefits from investing in MLPs depend on their being treated as partnerships for federal income tax purposes and, if the MLP is deemed to be a corporation, then its income would be subject to federal taxation at the entity level, reducing the amount of cash available for distribution to the fund which could result in a reduction of the fund's value.

«If you use the money for purposes other than education, you are taxed regular income taxes on any gains plus a 10 % penalty,» notes Benedict.

For tax purposes, virtual currencies are treated as capital assets or income depending on whether the virtual currency was held for investment purposes, or if the virtual currency was received as a form of compensation (e.g., if the donor is a miner or received compensation in the form of virtual currencFor tax purposes, virtual currencies are treated as capital assets or income depending on whether the virtual currency was held for investment purposes, or if the virtual currency was received as a form of compensation (e.g., if the donor is a miner or received compensation in the form of virtual currencfor investment purposes, or if the virtual currency was received as a form of compensation (e.g., if the donor is a miner or received compensation in the form of virtual currency).

For income tax purposes, the interest on business loans (and payments for some capital leases) is considered a deductible business expense, while the principal is nFor income tax purposes, the interest on business loans (and payments for some capital leases) is considered a deductible business expense, while the principal is nfor some capital leases) is considered a deductible business expense, while the principal is not.

Any Social Security that is included in your Adjusted Gross Income (AGI) for federal purposes can be subtracted out of your AGI on your South Carolina tax return.

Many who took Canada up on the offer bought expensive real estate in Vancouver, parked their families there and paid little or no income tax because they continued to work and, ostensibly, reside overseas (at least for tax purposes).

You also have no problem using secular for tax purposes as a «non-profit» so that you don't pay taxes on what is clearly income.

U.S tax laws regulating which parent may claim a child as a dependent, and what happens if couples can't agree on who will claim the children as exemptions for income tax purposes.

This is intended to be helpful but it is still very important that you check the income figure shown on the notice is correct for tax credit purposes and that may be different from the income figure provided through HMRC's RTI records.

For those paid on contract or as consultants, it is probably worth finding an accountant or other financial adviser to help you determine how best to declare you income for tax purposFor those paid on contract or as consultants, it is probably worth finding an accountant or other financial adviser to help you determine how best to declare you income for tax purposfor tax purposes.

Upon dissolution or winding up of said corporation's affairs, whether voluntary or involuntary, all of its assets then remaining in the hands of the board of directors shall, after paying or making provision for payment of all of said corporation's liabilities, be distributed, transferred, conveyed, delivered, and paid over only to educational, scientific, literary, or charitable organizations that are exempt from federal income tax under section 501 (c)(3) of the Internal Revenue Code of 1986, as amended, and which are not private foundations within the meaning of section 509 (a) of the Internal Revenue Code of 1986, as amended, on whatever terms and conditions and in whatever amounts the board of directors may determine, for use exclusively for educational, scientific, literary, or charitable purposes, except that no distribution shall be made to organizations testing for public safety.

Earlier this week, Stephanie Saul of the New York Times launched a full frontal assault on scholarship tax credit (STC) programs, accusing them of failing to help low - income students, draining public schools of needed funding, and of using public money for private purposes.

On average, the federal government contributes about 10 percent to the total amount spent on public education, but these dollars account for a larger portion of many high - poverty districts» budgets.11 For example, Los Angeles Unified School District and Chicago Public Schools — both high - poverty districts — receive about 15 percent of their budgets from the Education Department.12 These dollars serve essential purposes, such as supplementing services for low - income students, defraying the cost of individualized education programs for students with disabilities, and compensating for a loss of property tax due to federally owned lanOn average, the federal government contributes about 10 percent to the total amount spent on public education, but these dollars account for a larger portion of many high - poverty districts» budgets.11 For example, Los Angeles Unified School District and Chicago Public Schools — both high - poverty districts — receive about 15 percent of their budgets from the Education Department.12 These dollars serve essential purposes, such as supplementing services for low - income students, defraying the cost of individualized education programs for students with disabilities, and compensating for a loss of property tax due to federally owned lanon public education, but these dollars account for a larger portion of many high - poverty districts» budgets.11 For example, Los Angeles Unified School District and Chicago Public Schools — both high - poverty districts — receive about 15 percent of their budgets from the Education Department.12 These dollars serve essential purposes, such as supplementing services for low - income students, defraying the cost of individualized education programs for students with disabilities, and compensating for a loss of property tax due to federally owned lafor a larger portion of many high - poverty districts» budgets.11 For example, Los Angeles Unified School District and Chicago Public Schools — both high - poverty districts — receive about 15 percent of their budgets from the Education Department.12 These dollars serve essential purposes, such as supplementing services for low - income students, defraying the cost of individualized education programs for students with disabilities, and compensating for a loss of property tax due to federally owned laFor example, Los Angeles Unified School District and Chicago Public Schools — both high - poverty districts — receive about 15 percent of their budgets from the Education Department.12 These dollars serve essential purposes, such as supplementing services for low - income students, defraying the cost of individualized education programs for students with disabilities, and compensating for a loss of property tax due to federally owned lafor low - income students, defraying the cost of individualized education programs for students with disabilities, and compensating for a loss of property tax due to federally owned lafor students with disabilities, and compensating for a loss of property tax due to federally owned lafor a loss of property tax due to federally owned land.

Effective 2002 and thanks to Economic Growth & Tax Relief Reconciliation Act of 2001 (EGTRRA), annual limits on 401k contributions were raised for this exact purpose allowing working investors to contribute more tax - deferred contributions to their retirement plans and lower their current taxable income.&raqTax Relief Reconciliation Act of 2001 (EGTRRA), annual limits on 401k contributions were raised for this exact purpose allowing working investors to contribute more tax - deferred contributions to their retirement plans and lower their current taxable income.&raqtax - deferred contributions to their retirement plans and lower their current taxable income.»

Payments reported on this form are treated in the same manner as Social Security benefits for income tax purposes

You become a resident of Canada for income tax purposes when you establish significant residential ties in Canada, usually on the date you arrive in Canada.

Encana Corporation hereby advises all shareholders that, effective from January 1, 2006, all dividends paid on its common shares will be designated as «eligible dividends» for Canadian income tax purposes.

You and your spouse are not being considered as a child on someone else's tax return for purposes of the earned income credit.

This web page is not setup for the purpose of advising individuals on how one should file income tax returns, but merely an informational page to direct someone quickly to view exactly what the IRS has to say concerning debt forgiveness.

his web page is not setup for the purpose of advising individuals on how one should file income tax returns, but merely an informational page to direct someone quickly to view exactly what the IRS has to say concerning debt forgiveness.

You may have to pay the AMT if your taxable income for regular tax purposes, combined with certain adjustment and tax preference items (including interest on certain private activity bonds), is more than the following exemption amounts below:

I claim an employee and partner GST / HST rebate for the GST / HST paid on expenses deducted from my employment income for income tax purposes.

In this case the accounting is on Schedule E, but the bottom line can not be negative (i.e.: expenses, including depreciation, that exceed the rental income - can not be deducted and are lost for tax purposes).

In the case I described above, I'd be actually selling for the purpose of reporting gains (and then paying no tax on those gains since I'd be in the 15 % income tax bracket.

If your fund makes the minimum annual payment the following financial year, a new income stream is taken to have started on 1 July of that year for income tax purposes.

Taxes: Investors should note that even though the dividends are reinvested and that no cash from the dividends was paid to the investor, for federal income tax purposes, the investor will be treated as having received dividend income on the dividend payment date.

When 529 funds are used for these qualified purposes, there is no federal income tax on investment gains (no capital gains tax, ordinary income tax, or Medicare surtax).

If you're an Australian resident for tax purposes, you generally have to declare all income you earned both in Australia and internationally on your Australian tax return.

Another weird thing: Any penalties you have to pay on your CD can be deducted from your income for US federal income tax purposes.

Optimizing the classification of capital assets for income tax purposes can have a significant impact on your corporate taxes payable and the resulting cash flow.

If you withdraw money early (before age 59-1/2) from a tax - deferred retirement account, you'll owe the IRS income tax on the amount withdrawn at your normal marginal income tax rate PLUS — unless the money's for an «allowed purpose «-- a 10 percentage point penalty.

Interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes.

Tax - free on the other hand implies income that is not taxable in the hands of investors i.e. the income from such tax - free source is not included in the total income for the purpose of computation of total tax liabiliTax - free on the other hand implies income that is not taxable in the hands of investors i.e. the income from such tax - free source is not included in the total income for the purpose of computation of total tax liabilitax - free source is not included in the total income for the purpose of computation of total tax liabilitax liability.

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.