Sentences with phrase «in nontaxable»

This is the face value of the life insurance policy that is to be paid out to your beneficaries in the event of your death and the total amount paid out (less any loans against the policy) is usually in a nontaxable lump sum payment.

The size of your credit depends on how much taxable disability income you had as well as how much you received in nontaxable disability benefits.

Among the top bond funds in the nontaxable space, the number of winning funds was nearly the same as the prior year: 64 funds won best bond funds awards for 2018 out of a total of 375 municipal bond funds evaluated.

Not exact matches

Should put your money in a taxable or nontaxable account?

The money goes to God, and God lives in the sky which is outside of the US and is therefore nontaxable.

A whopping $ 409,916 in salary, deferred pay and «nontaxable benefits.»

Your nontaxable combat pay will be used in the calculation of your Earned Income Tax Credit which may give you a larger EITC credit.

Even in this case, your combat pay remains nontaxable.

If you are stationed in a combat zone for at least one day out of a month, not only should you receive a nontaxable combat pay allowance for that month, but the entire month's regular salary may be excluded from your taxable income.

However, they may choose to include nontaxable pay in their earned income for the purposes of calculating the EITC.

Members of the armed forces do not normally include nontaxable pay, such as combat pay, in their earned income when calculating the Earned Income Credit.

Review Publication 550 for assistance in determining if the amount shown in Column 3 is truly nontaxable to you.

This is to make sure the new employer will be able to keep track of the nontaxable amount in the new Roth account.

If you don't really need to spend the money distributed from your Inherited IRA for your household expenses (your opening statement that your income for 2016 is low might make this unlikely), and (i) you and / or your spouse received compensation (earned income such as wages, salary, self - employment income, commissions for sales, nontaxable combat pay for US Military Personnel, etc) in 2016, and (ii) you were not 70.5 years of age by December 2016, then you and your wife can make contributions to existing IRAs in your names or establish new IRAs in your names.

You'll find more information in IRS Publication 525, «Taxable and Nontaxable Income.»

The first - in - time loans are nontaxable up to this limit.

Since this portion is nontaxable, in most cases, you may subtract the amount reported in Box 3 of IRS Form 1099 - DIV form the cost basis of your shares.

If you made nondeductible contributions to a traditional IRA at any time in the past, and haven't previously withdrawn the nondeductible contributions, then your partial conversion will be partly nontaxable.

Nontaxable scholarships aren't considered in this test.

A: If you convert the entire amount of all traditional IRAs you own, then the non-taxable part of your rollover distribution is simply the total amount of nondeductible contributions you made to all of those IRAs, less the amount of nontaxable distributions you received in the past.

Nontaxable trades: If you acquire new investment property in exchange for old investment property, such as in a tax - deferred exchange, the holding period begins on the day after the date the original (or old) property was acquired.

After - tax returns are not relevant to shareholders wh o hold shares in tax - deferred accounts or shares held by nontaxable entities.

However, in most cases all distributions you take from the account at retirement will be nontaxable.

Well, if you withdrew $ W during 2016 and the total value of all your Traditional IRA accounts was $ X at the end of 2016 and your total basis in your Traditional IRA is $ B, then (assuming that you did not indulge in any Traditional - to - Roth rollovers for 2016), multiply W by B / (W+X) to get the amount of nontaxable basis in the withdrawal.

In general, nontaxable allowances include travel allowances and the part - of - living allowances for utilities, housing, clothing, food, and household supplies.

After - tax returns are not relevant to sharehold ers who hold shares in tax - deferred accounts or shares held by nontaxable entities.

Find more information on nontaxable employer - provided educational assistance in IRS Publication 970 - Tax Benefits for Education.

Ordinarily, when you have basis in your IRAs, any distribution is considered to include both nontaxable and taxable amounts.

«Spending $ 1,000 to get $ 10 in points is seen as a discount and is nontaxable,» says enrolled agent Morris Armstrong of Armstrong Financial Strategies * in Danbury, Connecticut.

In order to figure out the taxable portion of an annuity payment, an exclusion ratio is used to determine the ratio of taxable to nontaxable proceeds in an annuity paymenIn order to figure out the taxable portion of an annuity payment, an exclusion ratio is used to determine the ratio of taxable to nontaxable proceeds in an annuity paymenin an annuity payment.

Only when the interest or gain is exhausted are distributions treated as a nontaxable recovery of investment in the contract.

• First - hand experience in collecting and summarizing timekeeping information to ensure correct payroll processing activities • Track record of accurately calculating garnishments and commissions and efficiently posting them to payroll systems • Competent at handling sophisticated payroll systems and databases by following state and federal rules and regulations • Proficient in calculating and depositing payroll taxes and processing employment verifications to ensure accurate payroll procedures • Adept at maintaining payroll information by collecting, calculating and entering payroll data into predefined company systems • Competent in determining payroll discrepancies and taking effective measures to ensure that they are corrected before they have an adverse effect on the system • Qualified to prepare payroll reports by compiling summaries of earnings, taxes, deductions and nontaxable wages • Effectively able to update payroll information by recording changes such as insurance coverage, loan payments and salary increases • Proven ability to address employees» pay - related concerns and queries by remaining within the confines of company protocols • Hands - on experience in developing, maintaining and managing comprehensive payroll records by ensuring that both confidentiality and security of information is maintained

In October, the city council of Inglewood, Calif., passed a measure that prohibits stores larger than 155,000 sq. ft. and devotes more than 20,000 sq. ft. to nontaxable goods, within municipal bounds.

«And unlike gold, you would have been able to live in the property, reap the tax deductions for mortgage interest and property taxes, and a nontaxable gain of up to $ 500,000 when the house was sold,» Jones says.

A federal appellate court has considered whether payments received by a tax - exempt association from the publisher of the association's magazine derived from advertising revenue in the association's magazine should be treated as taxable unrelated business income or as nontaxable royalty income.