Sentences with phrase «net taxable income»

Generally, these tax distributions will be computed based on our estimate of the net taxable income of the relevant partnership allocable to a partner multiplied by an assumed tax rate equal to the highest effective marginal combined U.S. federal, state and local income tax rate prescribed for an individual or corporate resident in New York, New York (taking into account the non-deductibility of certain expenses and the character of our income).

In some cases, you might be able to deduct legal bills as long as you paid for services that net you taxable income.

For 2010, the maximum amount that can be claimed as an Age Credit is $ 6,446, but this amount is reduced by 15 per cent of your net taxable income in excess of $ 32,506 and disappears completely once your taxable income reaches $ 75,479.

A $ 1,000 «below the line» deduction will reduce your net taxable Income by only $ 1,000.

An «above - the - line» deduction of $ 1,000 could actually reduce your net Taxable Income by more than $ 1,000.

However, as a REIT it is required to pay at least 90 % of its net taxable income so I think it remains a dividend candidate worth watching closely.

At least once each year, the Fund will distribute all net taxable income to investors.

You'll deduct your total expenses from your total farm rental income to determine your net taxable income, or loss, from the business.

Similarly, if someone has a net taxable income of Rs. 15 lakh, then the tax outgo will increase by Rs. 2,625.

This means that on the net taxable income of Rs. 5 lakh, the tax liability will increase by Rs. 125.

If the net taxable income is negative, you may be able to use that passive loss to offset some of your ordinary income.

Same as a shoe store owner in a similar situation pays on their net taxable income.

If the net taxable income is positive, you will pay tax on it at your marginal rate.

The rebate should qualify as a reduction against gross income and therefore taxes paid would be on the net taxable income after this expense.

So you could deduct $ 4k as a depreciation expense, and only have a net taxable income of $ 1k.