Sentences with phrase «loophole in the tax law»

Those who want to contribute annually to a Roth but exceed the income cap may also take advantage of a loophole in the tax law by doing a backdoor conversion, which entails contributing money to a traditional, nondeductible IRA each year and then immediately converting it into a Roth.

The focus of the report was the sale of «boutique» tax avoidance schemes which exploit loopholes in the tax law to reduce the amount the client pays.

The second way you can give the taxman the miss is to exploit loopholes in tax laws in order to earn outsized tax deductions.

Not exact matches

Under the Trump tax plan, loopholes for real estate investors like him and his son - in - law Jared Kushner will be bigger than ever.

Rockefeller expects state and local tax revenues to fluctuate over the coming quarters as a result of the tax bill, as high - income taxpayers look for new loopholes in the law and adjust their behavior accordingly.

What's more, the Tax Cuts and Jobs Act, which was signed into law in December 2017, officially closed the tax loophole that allows crypto investors to use the like - kind exchange to sidestep taxatiTax Cuts and Jobs Act, which was signed into law in December 2017, officially closed the tax loophole that allows crypto investors to use the like - kind exchange to sidestep taxatitax loophole that allows crypto investors to use the like - kind exchange to sidestep taxation.

The tax bill, signed into law in June 2001, failed to remove loopholes, and it reduced taxes, largely for the wealthy, by $ 1.35 trillion across a ten - year period.

There are five or six major landholders who are benefiting from loopholes in the laws and administrative shortcomings, and who are thus accruing all the value in the appreciation in land without being taxed.

A coalition of labor unions, religious groups, and others are urging Governor Cuomo and the legislature to close what they say are loopholes in the law that protect large corporations from paying their fair share of taxes.

It appears NRG still qualified for a 100 - percent refund of its property taxes because of a loophole in the zone law.

The combined fiscal impact of the six «100 hours» bills (which implement 9/11 Commission recommendations, close energy tax loopholes and more) is significant: the Congressional Budget Office (CBO) has estimated $ 21.1 billion in savings and revenue over the next ten years if the bills are signed into law.

Empire Zone tax credits also went to real estate management companies, power plants, lawyers and accountants - people in industries that were not in danger of leaving New York state, and people who were in the best position to know the laws and its loopholes.

The study detailed loopholes in the federal tax law that states and some taxpayers could exploit to preserve the benefit of the state and local tax deduction, or SALT.

DeFrancisco's Syracuse law firm received $ 187,525 in state tax credits between 2002 and 2013 by taking advantage of a loophole under the now - defunct Empire Zone program that was designed to attract big businesses and jobs to needy areas, public records show.

This change in EU law is designed to close that specific tax loophole, and provide a level playing - field for everyone.

But again, we'll see if this «loophole» in tax law lasts the next round of tax overhaul legislation.

There are major differences in how the new tax law and its various loopholes affect different industries, according to InvestmentNews.

Until recently a controversial loophole existed in the tax law allowing buyers of high - end luxury SUVs, to write - off the entire expense of the vehicle in the year of purchase.

For example, a casual perusal of the online legal research service Westlaw reveals that «mumbo jumbo» appears at least 251 times in judicial opinions.8 «Jibber - jabber» shows up just seven times (although surprisingly used by parties, rather than in statements from the court), while the more prosaic «gobbledygook» has 126 hits in the legal database.9 Believed to have been coined in 1944 by U.S. Rep. Maury Maverick of Texas, «gobbledygook» has been used by everyone from political figures referring to bureaucratic doublespeak (for example, President Ronald Reagan's stinging 1985 indictment of tax law revisions as «cluttered with gobbledygook and loopholes designed for those with the power and influence to have high - priced legal and tax advisers») to judges decrying the indecipherable arguments and pleadings of the lawyers practicing before them.

• Proficient in researching tax laws and regulations, aiming to ensure that loopholes and problems are dealt with appropriately.