Sentences with phrase «income for purposes»

The first set of amendments, proposed in April 2013 and published on July 24, 2013, clarify, correct, or amend provisions on the relation to State law of Regulation X's servicing provisions; implementation dates for adjustable rate mortgage servicing; exclusions from requirements on higher - priced mortgage loans; the small servicer exemption from certain servicing rules; the use of government - sponsored enterprise and Federal agency purchase, guarantee or insurance eligibility for determining qualified mortgage status; and the determination of debt and income for purposes of originating qualified mortgages.

To be more specific on the 2 years comment, you would need to get 2 years of tax returns showing this property's returns in order for banks to consider the income it generates as part of your total income for purposes of qualifying on a new mortgage.

There is a formula that the court uses to determine the parents» respective net spendable income for the purposes of determining child support add - ons.

Massachusetts» guidelines define income for the purposes of child support calculations as all income, including wages, salaries, overtime, tips, commissions, royalties, bonuses, interest, government benefits, pensions and most other types of pay.

While disability insurance benefits are meant to replace income, they are not classified as income for the purposes of reporting your taxes.

Like many states, Rhode Island uses federal taxable income, as determined under the current IRC (but without special deductions allowed under federal law), as the starting point for determining taxable income for purposes of the business corporation tax.

If you have other questions about imputing income for purposes of child support in Georgia, contact an experienced family law attorney for assistance.

In it's 65 - paragraph judgment, the ONCA overturned the trial judge's decision, finding that structured settlement annuity payments should be considered as income for the purposes of spousal support, and not property under Part 1 of the Family Law Act.

Alberta and British Columbia, thus, appear to be at a relative consensus that Veteran's Affairs Pensions are not to be included in income for the purposes of support on the basis that such benefits are compensation for loss of amenities, and thus more appropriately characterized as property than as income.

Justice Barrington - Foote found that veteran disability pensions were therefore not income for the purposes of child support.

Storey v Simmons, 2013 ABQB 168: The Justice Veit found the Manuge case of «critical importance» for determining that Veteran's Affairs disability pensions are not income for the purposes of child support, but excluded property.

The court determined that Veterans Affairs Disability pensions could be used to calculate income for the purposes of spousal support.

An example would be if the parties have a large amount of money in a savings account or held as another asset, and one of the parties uses those funds or their income for purposes not related to the marriage.

This page provides basic information about calculating lost income for the purposes of negotiating a personal injury settlement with an insurance company.

The calculation of income for the purposes of both child and spousal support can be fairly complicated when it comes to business owners.

The trial court held that the income from this account constituted income for purposes of spousal support.

Those fees would constitute the main source of income for the purposes of financing that runway, which would allow the airport manager to increase its capacity and to extend its business of operating Leipzig - Halle airport (paragraph 41).

As part of the task of ascertaining the husband's true income for these purposes, the court was accordingly asked to characterize the $ 50,000.

What I find more interesting in this case, however, is the discussion and, frankly, the finding by the trial judge that gifts of money by the husband's parents ought to factor into his income for the purposes of child and spousal support.

The money was not to be treated as income for the purposes of spousal support.

In computing his income for purposes of the Income Tax Act, Cavanagh sought to deduct the $ 10,187.77.

The Court found that a broad and purposive approach is necessary when determining whether a particular receipt is income for the purposes of s. 68: Conforti (Re) at paras. 12 - 13.

Cembre S.p.A. informs to have signed, assisted by «Studio Tributario e Societario Deloitte» as tax advisor, the agreement with the Tax Authority defining methods and criteria in order to calculate the economic contribution to the production of intangible property income for the purposes of the...

Cembre S.p.A. informs to have signed, assisted by «Studio Tributario e Societario Deloitte» as tax advisor, the agreement with the Tax Authority defining methods and criteria in order to calculate the economic contribution to the production of intangible property income for the purposes of the so - called Patent Box regime, with reference to fiscal years 2015 - 2019.

The $ 36,000 from the TFSA is not considered income for purposes of GIS so, in the eyes of CRA, this couple essentially has no taxable income between ages 67 and 70.

Canada Revenue Agency (CRA) shares your net income for the purposes of calculating OAS clawback with Service Canada, who administers the OAS.

The full amount of benefits received is included in net income for purposes of assessing various clawbacks and other net income - based calculations: the OAS clawback (see topic 72) and the age credit (see topic 79).

If, prior to your divorce, you lived in a two - income household, your now have less spending power and a reduced monthly income for purposes of your VA home loan application.

How to Determine Eligibility In addition to obtaining certification regarding one's credentials as a highly - qualified instructor with over five years of full - time teaching service, a person will need to make sure the school in which they taught is designated as low - income for the purposes of the program.

If an individual receives income from interest, dividends, pension proceeds, social security or unemployment benefits, alimony or child support, these do not count as earned income for purposes of the tax credit.

Income from pensions, 401k plans, IRAs and other qualified retirement plans is excluded from the definition of investment income for purposes of this tax.

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

Therefore, the housing allowance (or rental value of the home) may be included in earned income for the purposes of calculating the Earned Income Tax Credit.

For example, if you pay for health insurance through your employer, or make 401k contributions, that premium is typically excluded from your income for purposes of computing income taxes

The remaining items refer to deductibility of charitable contributions, gifts and bequests, which are otherwise taxable — deductibility not to the recipient nonprofit organization, but to the donor, on the rationale that what the donor gives away to a charitable organization should not be treated as income for purposes of taxation since, unlike taxable income, it does not represent the consumption or accumulation of income for the donor's personal aggrandizement.

Because he has $ 600,000 in income and takes $ 100,000 in deductions, Randy's taxable income for these purposes is $ 500,000.

If, prior to your divorce, you lived in a two - income household, your now have less spending power and a reduced monthly income for purposes of your VA home loan application.

Can alimony qualify as earned income for the purposes of funding a Roth IRA?

«VAIDS is an initiative designed to encourage voluntary disclosure of previously undisclosed assets and income for the purpose of payment of all outstanding tax liabilities.»

Income from annuities that are provided as part of a qualified retirement plan isn't treated as investment income for this purpose, though, so it escapes the added 3.8 % tax.

Annuity is treated like your normal income and added to your total income for the purpose of taxation.

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 liability.

I am a retired senior citizen having an annual income of less than 3 lakhs from interest on deposits, EPF pension etc and hence not liable to pay income tax.Of late my wife who is not employed but a senior citizen got some amounts by way o f family settlements after her mother's death which she deposited in her name and the total annual of interest comes to about Rs 1.5 lakhs.According to her the income from her investments can not be clubbed Will her income be added to my income for the purpose of ascertaining my income tax liability.She has a separate pan no.earlier taken as she had rental income.

There's an exception to the rule that the income has to be taxable: nontaxable combat pay is qualifying income for this purpose.

Unlike payments under the UCCB, amounts received under the Canada Child Benefit are not taxable or included in income for the purpose of other federal income - tested benefits.

CPP / QPP, OAS & GIS are not eligible pension income for the purpose of lowering tax.

RRIF withdrawals count as eligible pension income for the purpose of the pension income tax credit, a tax credit you claim on your tax return that will make that $ 2,000 of income tax - free, or close to it, for most retirees.

Husband appealed imputation of income for the purpose of setting child support.

(1) the trial judge erred in determining the parties» annual incomes for the purpose of spousal support;

The amount of the benefit is included in the custodial parent's income for the purpose of calculating the child support obligation, and the benefit is also a credit toward the custodial parent's child support obligation.