Sentences with phrase «of tax purposes»

The CRA will ignore an individual's designation as an independent contractor if there are indications that the individual is actually an employee in terms of tax purposes.

Not exact matches

«Just as the IRS performs audits of people all the time of their tax returns, the same purpose here is to ensure a culture of compliance in this area,» he said.

Wesfarmers managing director Richard Goyder, finance director Terry Bowen and non-executive director James Graham have sold a combined $ 12.1 million worth of shares, predominantly for tax purposes.

Not surprisingly, however, the IRS does not want investors to harvest losses for the sole purpose of minimizing taxes.

Here's where things get complicated: In order to calculate the taxes you owe, you need your cost basis — that is, the original value of the asset for tax purposes — and this information can be hard to find.

For the purposes of the EPS calculation only, the net profit for the year attributable to ordinary shareholders has been adjusted to include the coupon, net of tax, on the perpetual bonds.

«In general, people who are more organized do a better job of tracking expenses and keeping records neat for tax purposes,» she adds.

Using personal property like homes and vehicles for business purposes complicates tax filings, says Argel Sabillo, co-founder of Levee.

n general, people who are more organized do a better job of tracking expenses and keeping records neat for tax purposes,» she adds.

«The purpose of the destination - based cash flow tax is to tax the sale of the goods in the U.S.,» Rosenberg explained.

For tax purposes, your home is your regular place of business, regardless of where you live.

The Obama administration has been gunning for so called «inversions», in which a U.S. company buys a smaller foreign company and then locates the merged company outside the U.S. for tax purposes, for over a year, but that hasn't stopped the flow of deals.

But before we get into classification of employees for employment tax purposes, I want to address your question about compliance checks.

Instead, Coinbase says it will release the Bitcoin Cash to customer accounts in January — raising the question of whether, for tax purposes, the distribution takes place in 2017 or 2018.

But if you then leave those securities to your heirs, their cost basis for tax purposes will be «stepped up» as of the date of your death, and your capital gains liability simply evaporates.

Use this checklist to ensure that you're saving the right financial records for tax purposes and keeping them for an appropriate amount of time.

In other words, every tax purpose, every legal and personal purpose that drove the formation of the corporation will be moot.

Uber considers adjusted earnings before taxes as a better indicator of its financial performance rather than net earnings based on Generally Accepted Accounting Principles, which include losses for accounting purposes.

Just as the IRS pays strict attention to the profits that foreign companies with U.S. operations declare for U.S. tax purposes, foreign governments closely examine the tax statements of U.S. businesses and their overseas subsidiaries.

Every accountant will be different when it comes to frequency of communication for tax planning purposes.

The ACCA allows manufacturing companies to depreciate, for tax purposes, the value of newly purchased equipment and machinery at the accelerated rate of 50 per cent per year, reducing their taxable income in the first few years of owning the asset.

It's different for Federal tax purposes where we're able to carryback most of our Federal NOLs.

Independent economists say it's a mystifying piece of tax policy that has no clear, long - term economic purpose and few — if any — recent comparable examples.

And using offshore accounts or holding companys aren't particularly effective methods for shielding income for tax purposes (since offshore accounts are subject to a whole whack of anti-avoidance rules and holding companys are typically subject to more or less the same tax rate as people in the top marginal tax bracket - the Tax Act has tightened up a lot since the 1960s so there really aren't that many «loopholes»tax purposes (since offshore accounts are subject to a whole whack of anti-avoidance rules and holding companys are typically subject to more or less the same tax rate as people in the top marginal tax bracket - the Tax Act has tightened up a lot since the 1960s so there really aren't that many «loopholes»tax rate as people in the top marginal tax bracket - the Tax Act has tightened up a lot since the 1960s so there really aren't that many «loopholes»tax bracket - the Tax Act has tightened up a lot since the 1960s so there really aren't that many «loopholes»Tax Act has tightened up a lot since the 1960s so there really aren't that many «loopholes»).

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.

Section 162 (m) of the Internal Revenue Code imposes limitations on the deductibility for corporate federal income tax purposes of remuneration in excess of $ 1 million paid to the chief executive officer, chief financial officer and each of the three next most highly compensated executive officers of a public company.

In order to help build credible links for him as part of our ongoing SEO link building strategy, we submitted useful content to the New York State Restaurant Association (NYSRA) for the purpose of acquiring an external link on their website's Restaurant Tax Center page, which the IRS actually helped to create.

ROBS allows you to roll over funds from an eligible retirement account for the purposes of purchasing a business — without triggering an early distribution or tax penalties.

Le Maire elaborated about Landau's special task: «This mission will propose reorientations on the evolution of [cryptocurrency, and] regulation to better control development, prevent their use for [the] purposes of tax evasion, money laundering, or financing of criminals or terrorism.»

Special rules may apply with respect to certain subsequent sales of the Shares in a disqualifying disposition, certain basis adjustments for purposes of computing the alternative minimum taxable income on a subsequent sale of the Shares and certain tax credits which may arise with respect to optionees subject to the alternative minimum tax.

However, your government is already on record for its commitment to allow families with children under the age of 18 to split income for tax purposes; to extend the fitness tax credit to adults; to raise the threshold for Tax Free Savings Accounts to $ 10,000; and to reduce government detax purposes; to extend the fitness tax credit to adults; to raise the threshold for Tax Free Savings Accounts to $ 10,000; and to reduce government detax credit to adults; to raise the threshold for Tax Free Savings Accounts to $ 10,000; and to reduce government deTax Free Savings Accounts to $ 10,000; and to reduce government debt.

You can snag some great deals by taking advantage of credit card rewards, other loyalty programs, and deducting your trip from your taxes if your travel is for business purposes.

OFFSHORE COMPANIES (INTERNATIONAL BUSINESS COMPANIES) is a company which does not carry out any substantial business activities in its country of formation and is framed in a law of no tax jurisdiction for the purposes of legally reducing any kind of tax payment and enhancing one's wealth management.

In addition, the amount of the fund's income distributions will vary over time and the breakdown of returns between fund distributions and liquidation proceeds will not be predictable at the time of your investment, resulting in a gain or loss for tax purposes.

Persons that for U.S. federal income tax purposes are treated as a partner in a partnership holding shares of our Class A common stock should consult their tax advisors.

If an entity or arrangement treated as a partnership for U.S. federal income tax purposes holds shares of our common stock, the tax treatment of a person treated as a partner generally will depend on the status of the partner and the activities of the partnership.

Our post-offering organizational structure will allow the Continuing LLC Owners to retain their equity ownership in Desert Newco, an entity that is classified as a partnership for U.S. federal income tax purposes, in the form of LLC Units.

If such a sale or disposition takes place in the year in which the participant exercises the option, the income recognized upon the sale or disposition of the shares will not be considered income for alternative minimum tax purposes.

Desert Newco is currently, and will through consummation of the reorganization transactions, be treated as a partnership for U.S. federal and most applicable state and local income tax purposes.

You'll have a capital gain or a capital loss when you dispose of bitcoin because virtual currencies are considered property for tax purposes.

However, the amount by which the fair market value of the shares at the time of exercise exceeds the option price will be an «item of adjustment» for participant for purposes of the alternative minimum tax.

If you can demonstrate to the IRS that at least a portion of your home — whether you're a homeowner or renter — is used exclusively for business purposes, you're allowed to take a tax deduction for certain home expenses.

Upon exercise of an ISO, the spread between the fair market value of the shares received and the exercise price will be an item of adjustment for purposes of the alternative minimum tax, unless the participant disposes of the shares in the same tax year as the ISO is exercised.

Establish the status of each person working for your startup based on the facts, and not on how the person asks to be treated for tax purposes.

For the purposes of the Public Service Loan Forgiveness Program, not - for - profit organizations that are not tax - exempt under Section 501 (c)(3) of the Internal Revenue Code are considered qualifying...

There is a large body of established tax principles and law for property that apply to cryptocurrency and how the gains, losses, income and transactions are treated for federal tax purposes.

This hypothetical illustration assumes the investor met the holding requirement for long - term capital gains tax rates (longer than one year), the gains were taxed at the current maximum federal rate of 23.8 %, and the loss was not disallowed for tax purposes due to a wash sale, related party sale, or other reason.

Modified Adjusted Gross Income (MAGI) can qualify you for a number of credits, benefits, and exclusions, which makes it important to calculate for tax purposes.

The proposal asks Berkshire Hathaway to disclose all of its political spending, including payments to trade associations and other tax exempt organizations used for political purposes.

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.