Sentences with phrase «paid for income tax purposes»

Not exact matches

EBITDA does not give effect to the cash that we must use to service our debt or pay our income taxes, and thus does reflect the funds actually available for capital expenditures, dividends or various other purposes.

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.

If we pay distributions on our common stock, those distributions generally will constitute dividends for U.S. federal income tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under U.S. federal income tax principles.

However, if we do make distributions on our Class A common stock, those payments will constitute dividends for U.S. tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under U.S. federal income tax principles.

Taxes: Investors should note that even though the dividends are reinvested and that no cash from the dividends was paid to the investor, for federal income tax purposes, the investor will be treated as having received dividend income on the dividend payment date.

* HSA contributions, earnings, and distributions used to pay for qualified medical expenses are tax free for federal income tax purposes.

The AMT is a complicated tax calculation that is intended to eliminate the potential for taxpayers to report large financial accounting profits while reporting little taxable income for federal income tax purposes, thus, paying little or no tax.

Many who took Canada up on the offer bought expensive real estate in Vancouver, parked their families there and paid little or no income tax because they continued to work and, ostensibly, reside overseas (at least for tax purposes).

You also have no problem using secular for tax purposes as a «non-profit» so that you don't pay taxes on what is clearly income.

For those paid on contract or as consultants, it is probably worth finding an accountant or other financial adviser to help you determine how best to declare you income for tax purposFor those paid on contract or as consultants, it is probably worth finding an accountant or other financial adviser to help you determine how best to declare you income for tax purposfor tax purposes.

Upon dissolution or winding up of said corporation's affairs, whether voluntary or involuntary, all of its assets then remaining in the hands of the board of directors shall, after paying or making provision for payment of all of said corporation's liabilities, be distributed, transferred, conveyed, delivered, and paid over only to educational, scientific, literary, or charitable organizations that are exempt from federal income tax under section 501 (c)(3) of the Internal Revenue Code of 1986, as amended, and which are not private foundations within the meaning of section 509 (a) of the Internal Revenue Code of 1986, as amended, on whatever terms and conditions and in whatever amounts the board of directors may determine, for use exclusively for educational, scientific, literary, or charitable purposes, except that no distribution shall be made to organizations testing for public safety.

When we pay you, we don't hold back any portion of your payment for income tax purposes.

For tax purposes, your child would be treated as self - employed, meaning that they would be required to file a tax return and pay a 15.3 % self - employment tax when income exceeds just $ 400.

For example, if you pay for health insurance through your employer, or make 401k contributions, that premium is typically excluded from your income for purposes of computing income taFor example, if you pay for health insurance through your employer, or make 401k contributions, that premium is typically excluded from your income for purposes of computing income tafor health insurance through your employer, or make 401k contributions, that premium is typically excluded from your income for purposes of computing income tafor purposes of computing income taxes

Dividends are considered return of premium paid for tax purposes, and are therefore not included as income.

Encana Corporation hereby advises all shareholders that, effective from January 1, 2006, all dividends paid on its common shares will be designated as «eligible dividends» for Canadian income tax purposes.

You may have to pay the AMT if your taxable income for regular tax purposes, combined with certain adjustment and tax preference items (including interest on certain private activity bonds), is more than the following exemption amounts below:

I claim an employee and partner GST / HST rebate for the GST / HST paid on expenses deducted from my employment income for income tax purposes.

In the case I described above, I'd be actually selling for the purpose of reporting gains (and then paying no tax on those gains since I'd be in the 15 % income tax bracket.

Taxes: Investors should note that even though the dividends are reinvested and that no cash from the dividends was paid to the investor, for federal income tax purposes, the investor will be treated as having received dividend income on the dividend payment date.

For purposes of the regular income tax your basis is simply the amount you paid to buy the stock.

Another weird thing: Any penalties you have to pay on your CD can be deducted from your income for US federal income tax purposes.

Withdrawals, including any earnings, are federal tax - free when withdrawn to pay for qualified higher education expenses.1 Contributions are not deductible for federal income tax purposes.

However, if the joint tax return is only filed for the purpose of claiming a tax refund of withheld income tax or estimates paid, then this test will have been met.

There are two purposes for this — first, you can easily track the inflows and outflows of your business finances, and second, when it's time to pay taxes having your business finances separated will save you many hours of pulling out your hair trying to figure out your expenses and income.

From 1 July 2017, individuals will generally be liable to pay Division 293 tax if their income for surcharge purposes (disregarding their reportable super contributions) and their low - tax contributions are greater than $ 250,000.

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.

If the trustee doesn't pay the minimum annual pension payment amount, the super income stream (that is, the TRIS) ceases for income tax purposes.

The most likely reason you'll have to pay AMT is if you have certain types of deductions that don't get counted for AMT purposes, such as real estate and state income taxes.

A: There are several sources of income that can not be accepted: Unemployment insurance payments, both State & Federal temporary disability insurance payments, workers compensation or any employment or job where you are paid under the table or monies not declared for tax purposes can not be considered.

I received a letter from my brokerage that they miscalculated the interest, and putt back the money in my investment account my question is for tax purpose what should this amount of money that I paid before as an interest be considered after I got it back Interest income, so it will all taxes or capital gain so 50 % will be taxed, or it was calculated in my tax calculation for year2009

The purpose of an income classifier is to proxy for taxpayers» economic well - being and their ability to pay taxes.

/ / 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.

I understand that'll make it a loss for tax purposes and i'll pay zero tax on the income, but do i have to claim everything anyway, or can i just claim enough expenses to cover the amount i'd have been taxed?

Years ago, in a seminal decision, the Supreme Court of Canada summarized the four requirements that must be met for interest expense to be tax deductible: «(1) the amount must be paid in the year...; (2) the amount must be paid pursuant to a legal obligation to pay interest on borrowed money; (3) the borrowed money must be used for the purpose of earning non-exempt income from a business or property; and (4) the amount must be reasonable.»

Using the IRS definition: You may have to pay the AMT if your taxable income for regular tax purposes plus any adjustments and preference items that apply to you are more than the AMT exemption amount.

Early withdrawal are calculated in another very non-advantageous way using the «last in first out» (LIFO) method which means that income taxes are realized on any early withdrawals until all earnings have been covered (for tax purposes) and the balance is a non-taxable return of premiums paid.

If a Fund fails to qualify as a regulated investment company under Subchapter M in any fiscal year, it may be able to pay a tax penalty on the portion of income that caused to inadvertently violate Subchapter M or it will be treated as a corporation for federal income tax purposes.

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

For regular income tax purposes, the «spread» or «bargain element» — the difference between the price paid and market value of the stock — is not taxed when the option is exercised.

For planning purposes, it's much more useful to work with your effective tax rate — what you actually pay relative to income from all sources.

Interest earned on EE bonds with January 1, 1990, and later issue dates may qualify for exclusion from income for Federal income tax purposes if the owner pays his or her tuition and required fees or those of his or her spouse or legally dependent children at colleges, universities, and qualified technical schools during the year eligible bonds are redeemed.

For the foregoing purposes, the fund is treated as having distributed any amount on which it is subject to income tax for any taxable year ending in such calendar year and certain amounts with respect to which estimated taxes are paid in such calendar yeFor the foregoing purposes, the fund is treated as having distributed any amount on which it is subject to income tax for any taxable year ending in such calendar year and certain amounts with respect to which estimated taxes are paid in such calendar yefor any taxable year ending in such calendar year and certain amounts with respect to which estimated taxes are paid in such calendar year.

In addition, «all dividends paid on its common shares will be designated as «eligible dividends» for Canadian income tax purposes.

For the foregoing purposes, a fund is treated as having distributed any amount on which it is subject to income tax for any taxable year ending in such calendar year and certain amounts with respect to which estimated taxes are paid in such calendar yeFor the foregoing purposes, a fund is treated as having distributed any amount on which it is subject to income tax for any taxable year ending in such calendar year and certain amounts with respect to which estimated taxes are paid in such calendar yefor any taxable year ending in such calendar year and certain amounts with respect to which estimated taxes are paid in such calendar year.

For tax purposes, you need to report any business income minus business expenses to the Internal Revenue Service, but there is no rule that mandates which card you use to pay for your expensFor tax purposes, you need to report any business income minus business expenses to the Internal Revenue Service, but there is no rule that mandates which card you use to pay for your expensfor your expenses.

Is subchapter S Corporation income used to pay taxes still income for child support purposes if the parent has a controlling interest in the S Corporation?

Is subchapter S Corporation income used to pay taxes still income for child support purposes if the parent does not have a controlling interest in the S Corporation?