Sentences with phrase «of the adjusted taxable»

The deduction for business interest expenses is generally capped at 30 % of adjusted taxable income, among other requirements.

Under the Act, the net interest deduction is limited to 30 percent of adjusted taxable income, which will generally mean earnings before interest, taxes, depreciation and amortization (EBITDA) for the next four years (2018 — 2021), and earnings before interest and taxes (EBIT) thereafter (2022 and beyond).

A lower corporate tax rate and a cap on business interest payments that exceed 30 percent of adjusted taxable income deductions could impact lower - rated companies, specifically those that employ significant leverage.

(b) during the earlier period, an assessment (the tax assessment) is made under an Income Tax Assessment Act of the taxable income, or any other component of the adjusted taxable income, of the liable parent or the other parent, for the latest year of income (the last year) that ended after the start of the earlier period.

Buyout firms and highly leveraged businesses may be hit by a provision capping the deduction for interest at 30 percent of adjusted taxable income, from 100 percent now.

Not exact matches

Investors with taxable account balances of $ 100,000 or more can expect up to 20 % of those balances to be invested in the fund, which offers greater exposure to asset classes with higher risk - adjusted returns.

Pursuant to such an election, you would include in each year as ordinary income the excess, if any, of the fair market value of such stock over its adjusted basis at the end of the taxable year.

The deduction will reduce your taxable income, so your adjusted gross income in line 37 will be reduced by the amount of interest you paid.

There are also tax considerations to keep in mind: When TIPS» principal value is adjusted upward because of inflation, the IRS considers the increase to be taxable income.

A deduction from a taxpayer's taxable adjusted gross income that is made up of deductions for money spent on certain goods and services throughout the year.

As mentioned above, the income thresholds of $ 315,000 for a couple and $ 157,500 for a single filer are based on taxable income — that is income after deducting the standard or itemized deductions from adjusted gross income.

Interest deduction limitation: Under the act, the deduction for business interest is limited to the sum of (1) business interest income; (2) 30 % of the taxpayer's adjusted taxable income for the tax year; and (3) the taxpayer's floor plan financing interest for the tax year.

It is a matter in the hands of local authorities, but there is an argument to protect this benefit, while making it taxable for wealthy pensioners by adjusting the level of taxable allowances.)

The adjusted base proportions are used to determine the taxable assessed value for each of the individual classes, therefore, shifts in these amounts could cause larger than normal tax increases, which would result in uncertainty for the taxpayer.

A deduction from a taxpayer's taxable adjusted gross income that is made up of deductions for money spent on certain goods and services throughout the year.

Some are subject to the alternative minimum tax (AMT), which is a flat - rate charge on the adjusted amount of taxable income above a certain threshold.

A: Roy, to start I would verify the Adjusted Cost Base of the policy and the amount of the Taxable Gain if the policy is surrendered.

Future growth in the shares would be taxable to the grandchildren, with the grandchild's adjusted cost base for tax purposes being the fair market value at the time of transfer.

The designated beneficiary generally does not have to include in income any earnings distributed from a QTP if the total distribution is less than or equal to adjusted qualified education expenses (defined under Figuring the Taxable Portion of a Distribution, later).

From deciding on the right asset location, to harvesting losses, to calculating the adjusted cost base of your holdings, taxable investments are always a challenge.

If the filer is covered by an employer's plan and has a modified adjusted gross income (MAGI) of $ 61,000 or less, he can deduct the full contribution from his taxable income for the year.

However up to 85 % of benefits will be taxable if your provisional income is more than the adjusted base amount.

Note that these are dollar amounts of adjusted gross income («AGI»), not taxable income.

Under the Kiddy Tax, the unearned income of certain children that exceeds $ 2,000 (adjusted annually) is taxable at the parent's, rather than child's marginal tax rate.

The second page of Form 1040A allows you to subtract a standard deduction and your exemption allowances from your adjusted gross income to arrive at your taxable income.

Since my income after taking into account the STCG of Rs. 3000 / - is below the taxable income (after considering the rebate under sec 80C, 80D etc., should I compulsarily adjust the STCG against the c / f STCL in this year or can I adjust the total loss of Rs. 5000 / - against my future year gains.

The big reason for this adjusted capital cost allowance for each of the business assets is that the CRA considers all depreciation incurred by the business assets as one annual cost borne by the business — so all depreciation on all assets is calculated, added up and the total depreciation (known in tax terms as the capital cost allowance on an asset) is then used as a tax deduction to reduce taxable earnings.

Any increase in value of the property over its adjusted cost base (ACB), less outlays and expenses, is your taxable gain.

While return of capital is not taxable — it's just your money being returned to you — it causes your adjusted cost base to fall.

In addition to the federal deduction, 37 states and the District offer an identical or similar provision, usually through their connections to the federal tax code: Most of these states start their income tax calculations with one of the federal definitions of income — adjusted gross income or taxable income — that include the student loan interest deduction.

If a state uses federal adjusted gross income, but then has its own provisions for coming up with taxable income from there, then the increase to the standard deduction and the elimination of personal exemptions at the federal level won't necessarily have any impact on the state's subsequent calculation of its own taxable income.

One involves the calculation of adjusted gross income or taxable income for state purposes.

But most teachers saw no benefit, since only those miscellaneous itemized deductions that exceed 2 % of adjusted gross income (AGI) will actually reduce taxable income.

Currently, a person that is filing as a single head of household only needs to have an adjusted gross income above $ 25,000 before their Social Security benefits may become taxable.

That can help keep you out of a higher tax bracket, qualify you for credits and deductions that you might not be eligible for with a higher adjusted gross income, and reduce the amount of your Social Security income that's taxable.

Return of capital is not taxable when it is received, but it lowers the adjusted cost base of your investment, which may result in a capital gain in the future

Many Canadians who owned taxable capital assets like cottages at that time filed an election to claim a deemed capital gain based on the then fair market value of their cottage, which would generally become your new adjusted cost base for capital gains tax purposes.

Assuming that Larry and Penny get $ 1.2 million in 2015 dollars for their business, and that they can shelter it by dividing it in half and protecting the taxable gain over their adjusted cost base of $ 350,000 for each partner, then the present federal capital gains exemption would mean that they have no tax to pay on the sale.

The higher your adjusted gross income, the more of your Social Security is actually taxable.

Such a distribution, however, will generally reduce the adjusted cost base of your units of the Portfolio and may, therefore, result in you realizing a taxable capital gain on a future disposition of the units.

Tax - equivalent yield (TEY) is the yield that a taxable bond must hold to equal or exceed the tax - adjusted yield of a municipal bond.

Most forms of retirement income are taxable at ordinary income rates, though Social Security benefits are exempt for joint filers with an adjusted gross income of $ 58,000 or less or $ 43,000 for single filers.

Imagine a single retired individual in 2016 who is in her mid 60s and has $ 60,000 of Adjusted Gross Income, reduced by a $ 7,850 standard deduction (including the over-age-65 amount) and a $ 4,050 personal exemption down to $ 48,100 of taxable income after deductions, which places her in the 25 % individual tax bracket.

If you are eligible for the offset, the percentage of net medical expenses you can claim is determined by your adjusted taxable income (ATI) and family status.

Let's assume I pose the following set of facts: 1) I need to plan for a 60 year retirement, 2) I want to have at the end of Year 60 100 % of my original balance (inflation adjusted obviously), 3) Only 10 % of my savings / investments is in tax deferred accounts (e.g., the bulk are in a taxable accounts), 4) I need a 6 % withdrawal rate pre-tax, and 5) I am indifferent to strategy (VII, etc) and asset choices (annuity vs. dividend blend vs. income, etc) but to guarantee the goals above.

When the standard deduction (or the sum of all itemized deductions), and personal and dependent exemptions ($ 3,700 each for 2011) are subtracted from adjusted gross income, the resulting amount is taxable income.

Prior to the introduction of the 2010 Federal Budget (Mar 4 2010) when you took possession of ESPP stock (exercise date) and the Fair Market Value (FMV) of the shares, on that date, exceeds the Adjusted Cost Base (ACB) of those shares you were deemed to have received a taxable benefit equal to the exercise date equity FMV minus the ACB.

To qualify for this deduction, you must be age 66 or older with earned income of at least $ 20,000 for the taxable year and federal adjusted gross income not in excess of $ 30,000 for the taxable year.

Investors with taxable account balances of $ 100,000 or more can expect up to 20 % of those balances to be invested in the fund, which offers greater exposure to asset classes with higher risk - adjusted returns.

When money is withdrawn from an account and not used to pay for qualified expenses of the designated beneficiary, the recipient of the money must add all amounts withdrawn to Idaho taxable income (if not included in federal adjusted gross income) in the year of the withdrawal.