Sentences with phrase «income tax purposes by»

Also, the interest generated by municipal bonds may be (at least partly) taxable for income tax purposes by your state.

Not exact matches

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.

HEX avoids this by classifying its call writing income as capital gains for tax purposes.

Please print or save this message as documentation for income tax purposes as this contribution may be tax deductible to the extent permitted by law for those individuals who itemize their taxes.

The Harper government had already promised to use the surpluses to allow income splitting for tax purposes for families with children under the age of 18; to extend the fitness tax credit to adults; and, to reduce debt by $ 3 billion a year.

As discussed above, notwithstanding receipt by HP Co. of a private letter ruling from the IRS and / or opinions of counsel and other external tax advisors, the IRS could assert that the distribution does not qualify for tax - free treatment for U.S. federal income tax purposes.

Accordingly, notwithstanding receipt by HP Co. of the IRS private letter ruling and the tax opinions referred to above, the IRS could assert that the distribution and / or certain related transactions do not qualify for tax - free treatment for U.S. federal income tax purposes.

Accordingly, notwithstanding receipt by HP Co. of the IRS private letter ruling and the tax opinions referred to above, there can be no assurance that the IRS will not assert that the distribution and / or certain related transactions do not qualify for tax - free treatment for U.S. federal income tax purposes or that a court would not sustain such a challenge.

These entities are now owned 100 % by us or our subsidiaries, and are treated as a consolidated group for federal income tax purposes.

If the IRA contribution is deductible, the end result will be a contribution to an IRA that produces a tax deduction, followed by a Roth conversion that causes the income in the IRA to be recognized for tax purposes.

Investors participating in this offering will, by contrast, hold equity in GoDaddy Inc., a Delaware corporation that is a domestic corporation for U.S. federal income tax purposes, in the form of shares of our Class A common stock.

Furthermore, we will calculate the state and local income tax savings by applying this 5 % rate to the reduction in our taxable income, as determined for U.S. federal income tax purposes, as a result of the tax attributes subject to the TRAs.

Marriott International said it anticipates the receipt of an IRS private - letter tax ruling in September, confirming that the distribution of shares of Marriott Vacations Worldwide common stock will not result in the recognition, for U.S. federal income tax purposes, of income, gain or loss by Marriott International or Marriott International shareholders, except, in the case of Marriott International shareholders, for cash received in lieu of fractional shares.

The change in the current tax law regarding MLPs could result in the MLP being treated as a corporation for federal income tax purposes which would reduce the amount of cash flows distributed by the MLP.

If you are employed by a congregation for a salary, you are generally a common - law employee and income from the exercise of your ministry is considered wages for income tax purposes.

Nixon's campaign said her true income was about $ 1 million in 2017, noting that the overall figure of $ 1.5 million does not reflect some expenses incurred by Nixon's corporation, while it does include receipts from the sales of securities which are not classified as income for tax purposes.

The Chartered Institute of Taxation (CIOT) welcomes today's announcement by the Financial Secretary to the Treasury, Mel Stride MP, that mandation of digital record keeping and quarterly reporting by small businesses and landlords for income tax purposes will be deferred until at least April 2020.

«I believe that it is important that the Treasury and the IRS issue guidance or a formal opinion letter whether taxpayer contributions to state authorized trust funds, partially reimbursed by credits reducing state and local income taxes, will be considered deductible for federal tax purposes,» Faso wrote in the letter.

EIN is certified by HRSD (formerly Human Resources and Development Canada, HRDC) as an educational institution under the Income Tax Act for the purposes of issuing tuition tax receipts for amounts over $ 100 to students 16 years of age and oldTax Act for the purposes of issuing tuition tax receipts for amounts over $ 100 to students 16 years of age and oldtax receipts for amounts over $ 100 to students 16 years of age and older.

In certain circumstances, the U.S. Internal Revenue Code requires that individual income taxpayers report the refund of excess state or local income tax payments received by the taxpayer as income for federal income tax purposes.

You may get a valuation done by a qualified valuer under the Income Tax and use it for the purpose of calculating capital gains.

However, where the non-inclusion of an amount in a taxpayer's assessable income is «attributable to» the making of an election or choice expressly provided by the income tax law, no tax benefit is obtained by the taxpayer, unless the scheme put the taxpayer in the position to make that election and a person who participated in the scheme did so with that purpose.

This is a long - term saving scheme, the purpose being to mobilize small saving of individual by offering investments that carry reasonable return along with income tax benefits.

Passive income: For tax purposes, income from direct investments in a business venture by an investor who does not actively participate in management, such as income from limited partnerships.

Your full IRA contributions can always be deducted from your income for tax purposes if you are not covered by a retirement plan at work.

However, you will be required to repay 15 per cent of the amount by which your net income for tax purposes — including your OAS pension — exceeds $ 66,733.

However, since they are completed transfers, the assets and the appreciation on any income earned by the assets are excluded from the transferor's estate for estate tax purposes.

Tax information concerning the amount of interest you should include in y our income for tax purposes will also be provided by the brokTax information concerning the amount of interest you should include in y our income for tax purposes will also be provided by the broktax purposes will also be provided by the broker.

Any amount of debt forgiven by a creditor is generally considered to be income for tax purposes, so you will have to pay taxes on the amount forgiven when you file your federal income tax return in the year the debt forgiveness occurs.

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.

«Income» for the purposes of the premium assistance tax credit and the FPL is based on modified Adjusted Gross Income (AGI), which means AGI increased by any income not reported due to the foreign earned income or housing cost assistance exclusions, any tax - exempt interest (i.e., municipal bond income), and any Social Security benefits that were otherwise excluded from iIncome» for the purposes of the premium assistance tax credit and the FPL is based on modified Adjusted Gross Income (AGI), which means AGI increased by any income not reported due to the foreign earned income or housing cost assistance exclusions, any tax - exempt interest (i.e., municipal bond income), and any Social Security benefits that were otherwise excluded from iIncome (AGI), which means AGI increased by any income not reported due to the foreign earned income or housing cost assistance exclusions, any tax - exempt interest (i.e., municipal bond income), and any Social Security benefits that were otherwise excluded from iincome not reported due to the foreign earned income or housing cost assistance exclusions, any tax - exempt interest (i.e., municipal bond income), and any Social Security benefits that were otherwise excluded from iincome or housing cost assistance exclusions, any tax - exempt interest (i.e., municipal bond income), and any Social Security benefits that were otherwise excluded from iincome), and any Social Security benefits that were otherwise excluded from incomeincome.

Earnings credited to a LA ABLE Account that are subsequently refunded by LATTA are taxable for Louisiana state income tax purposes.

As expected, the plan unveiled by Prime Minister Stephen Harper and Finance Minister Joe Oliver in Vaughan, Ont., allows families with children under the age of 18 to transfer as much as $ 50,000 worth of income from the higher - earning spouse to the lower - earning spouse for tax purposes starting in this year.

/ / 6 / / The management fees paid by a TFSA account holder will not be counted as part of your contribution, but they will also not be tax deductible for income tax purposes.

An individual, who has an employment relationship, acknowledged by both the individual and the mortgage broker or mortgage banker and is treated as an employee for purposes of compliance with the federal income tax laws.

For Canadian tax purposes, Rob would include the $ 100,000 in his Canadian tax return as foreign pension income (as illustrated by the mechanics in the case above), but he would get an offsetting deduction for a $ 100,000 RRSP contribution since there is a special rule that allows you to contribute IRA funds to an RRSP without needing unused RRSP room.

Act Sept. 1, 1954, § 201 (b), increased the limitation on self - employment income subject to tax, for taxable years ending after 1954, from $ 3,600 to $ 4,200 and included as «wages», for purposes of computing «self - employment income,» remuneration of United States citizens employed by a foreign subsidiary of a domestic corporation which has agreed to have the Social Security insurance system extended to service performed by such citizens.

For tax purposes, earned income is generally the money made by an individual from employment.

Interest paid on bonds issued by states or municipalities that is tax - free for federal income tax purposes.

From that perspective, distortions are generated by the 50 % discount on capital gains income for income tax purposes, not negative gearing.

Installment Sales related items, Foreign Tax Credit, Passive Activities, Net Operating Loss carryovers, Schedule D amounts containing unrecaptured section 1250 gain (or anticipated for AMT purposes), sale of disposition of business assets, investment interest expense election including net capital gains in investment income, and items covered under «at risk» rules will not be accommodated by the system.

In the year of disposition the adjustment will be a subtraction for gain attributable to installment payments to be made in future taxable years provided that (i) the gain arises from an installment sale for which federal law does not permit the dealer to elect installment reporting of income, and (ii) the dealer elects installment treatment of the income for Virginia purposes on or before the due date prescribed by law for filing the taxpayer's income tax return.

Net contributions by a taxpayer who does not claim the Minnesota tax credit for contributions are deductible for Minnesota income tax purposes each year up to $ 3,000 for joint income tax return filers and $ 1,500 for all other filers.

Net contributions by a taxpayer are deductible for Minnesota income tax purposes each year.

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 - 20tax 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 - 20Tax 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.

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 thetax 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 theTax Authority defining methods and criteria in order to calculate the economic contribution to the production of intangible property income for the purposes of the...

You need to assess the financial statements of the company, personal expenses paid by the company, tax free shareholder loans that may be available, cash flow needs of the company and income splitting corrections that need to be made after separation to find the true income for child and spousal support purposes.

The changes included addressing passive income by removing the tax advantage for using a private corporation for investment purposes and clamping down on transforming dividend income into capital gains, which are more lightly taxed.

(5) If, under the Income Tax Act (Canada) or legislation of another jurisdiction that imposes a tax calculated by reference to income, a person is required to report the amount of his or her income, the person's income before an accident shall be determined for the purposes of this Part without reference to any income the person has failed to report contrary to that Act or legislIncome Tax Act (Canada) or legislation of another jurisdiction that imposes a tax calculated by reference to income, a person is required to report the amount of his or her income, the person's income before an accident shall be determined for the purposes of this Part without reference to any income the person has failed to report contrary to that Act or legislatiTax Act (Canada) or legislation of another jurisdiction that imposes a tax calculated by reference to income, a person is required to report the amount of his or her income, the person's income before an accident shall be determined for the purposes of this Part without reference to any income the person has failed to report contrary to that Act or legislatitax calculated by reference to income, a person is required to report the amount of his or her income, the person's income before an accident shall be determined for the purposes of this Part without reference to any income the person has failed to report contrary to that Act or legislincome, a person is required to report the amount of his or her income, the person's income before an accident shall be determined for the purposes of this Part without reference to any income the person has failed to report contrary to that Act or legislincome, the person's income before an accident shall be determined for the purposes of this Part without reference to any income the person has failed to report contrary to that Act or legislincome before an accident shall be determined for the purposes of this Part without reference to any income the person has failed to report contrary to that Act or legislincome the person has failed to report contrary to that Act or legislation.

(6) The amount of a person's gross annual employment income and the amount of the person's income or loss from self - employment may be adjusted for the purposes of this Part to reflect any subsequent change in the amount determined by the Canada Revenue Agency under the Income Tax Act (Canada) or by the relevant government or agency under the legislation of another jurisdiction that imposes a tax calculated by reference to iincome and the amount of the person's income or loss from self - employment may be adjusted for the purposes of this Part to reflect any subsequent change in the amount determined by the Canada Revenue Agency under the Income Tax Act (Canada) or by the relevant government or agency under the legislation of another jurisdiction that imposes a tax calculated by reference to iincome or loss from self - employment may be adjusted for the purposes of this Part to reflect any subsequent change in the amount determined by the Canada Revenue Agency under the Income Tax Act (Canada) or by the relevant government or agency under the legislation of another jurisdiction that imposes a tax calculated by reference to iIncome Tax Act (Canada) or by the relevant government or agency under the legislation of another jurisdiction that imposes a tax calculated by reference to incoTax Act (Canada) or by the relevant government or agency under the legislation of another jurisdiction that imposes a tax calculated by reference to incotax calculated by reference to incomeincome.