Sentences with phrase «payments for income tax purposes»

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

Q: Under current law, a self - employed REALTOR ® deducts one - half of his / her SECA / HI payment for income tax purposes.

Not exact matches

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.

For the purpose of evaluating Medicare tax exposure, it's important to know that «unearned» net investment income includes net rental income, dividends, taxable interest, net capital gains from the sale of investments (including second homes and rental properties), royalties, passive income from investments in which you do not actively participate (such as a partnership), and the taxable portion of nonqualified annuity payments.

For income tax purposes, the interest on business loans (and payments for some capital leases) is considered a deductible business expense, while the principal is nFor income tax purposes, the interest on business loans (and payments for some capital leases) is considered a deductible business expense, while the principal is nfor some capital leases) is considered a deductible business expense, while the principal is not.

One is to locate intangible property for tax purposes where the person making the intangible property payment is located rather than where the person who is entitled to receive the intangible property payment is located, because the person making the payment often has less freedom to change their location and is often more closely associated with the production of the income.

«VAIDS is an initiative designed to encourage voluntary disclosure of previously undisclosed assets and income for the purpose of payment of all outstanding tax liabilities.»

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.

In certain circumstances, the U.S. Internal Revenue Code requires that individual income taxpayers report the refund of excess state or local income tax payments received by the taxpayer as income for federal income tax purposes.

Payments reported on this form are treated in the same manner as Social Security benefits for income tax purposes

The form also shows how much, if any, was withheld from your benefit payments for federal income tax purposes.

Some offer down payment and closing cost assistance and some may offer mortgage credit that allows borrowers to reduce their withholding tax and free up more income for qualification purposes.

If your fund makes the minimum annual payment the following financial year, a new income stream is taken to have started on 1 July of that year for income tax purposes.

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.

From 1 July 2017, you will no longer be able to elect to treat your super income stream benefits (that is, the periodic payments you receive) as lump sums for tax purposes.

If you buy an annuity with non-qualified after - tax dollars, the Exclusion Ratio is the percentage of your lifetime income payments that you will not have to treat as income (for federal income tax purposes).

Although Workers» Compensation benefits and welfare payments are not directly subject to tax, the amounts are included in your net income (but not taxable income) for purposes of determining your eligibility for certain tax credits.

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 member's account balance is no longer seen as supporting a TRIS and t any payments made during the year (not just the amount in excess of the limit) will be super lump sums for income tax purposes and lump sums for SIS Regulations purposes

Structured products may be considered contingent payment debt instruments for federal income tax purposes.

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.

For Federal income tax purposes, the entire amount withheld can be treated as having been made as four timely quarterly payments of estimated tax regardless of when the withholding actually occurred, no questions asked, and if you meet the 110 % of last year's tax criterion, it is not necessary to go into the level of detail that Maryland wants.

For income tax purposes, the interest on business loans (and payments for some capital leases) is considered a deductible business expense, while the principal is nFor income tax purposes, the interest on business loans (and payments for some capital leases) is considered a deductible business expense, while the principal is nfor some capital leases) is considered a deductible business expense, while the principal is not.

Thrift Savings Plan payments are taxable as ordinary income for Federal income tax purposes for the year in which they are disbursed.

Any payments made during the year will be super lump sums for both income tax and SIS Regulations purposes.

If a fund fails to meet the minimum pension payment requirements in an income year, the super income stream will be taken to have ceased at the start of that income year for income tax purposes.

In the year of disposition the adjustment will be a subtraction for gain attributable to installment payments to be made in future taxable years provided that (i) the gain arises from an installment sale for which federal law does not permit the dealer to elect installment reporting of income, and (ii) the dealer elects installment treatment of the income for Virginia purposes on or before the due date prescribed by law for filing the taxpayer's income tax return.

For income tax purposes, you are generally considered separated when you start living separate and apart from your spouse because of a breakdown in the relationship for a period of at least 90 days, assuming you have not reconciled.If a parent is required to make child support payments in relation to a specific dependent, they are not eligible to claim that dependeFor income tax purposes, you are generally considered separated when you start living separate and apart from your spouse because of a breakdown in the relationship for a period of at least 90 days, assuming you have not reconciled.If a parent is required to make child support payments in relation to a specific dependent, they are not eligible to claim that dependefor a period of at least 90 days, assuming you have not reconciled.If a parent is required to make child support payments in relation to a specific dependent, they are not eligible to claim that dependent.

This is good news because many payments for benefits which you might not think about are considered income for tax purposes.

However, if the payor is subject to a court order, the spouse receiving spousal support or APL must treat the payments as income for federal tax purposes and the spouse paying the order may deduct the payments in arriving at adjusted gross income.

In order to further proceed with the payment of income tax online, the taxpayer will have to login to the net banking site with user id / password provided by the bank for net banking purpose and enter the payment details on the bank site.

Dues payments to the REALTOR ® Association are not deductible as charitable contributions for federal income tax purposes.

As long as you have not made any payments to your reverse mortgage, you would be precluded from deducting those interest charges for income tax purposes.

A: NO AMOUNT of any payment of the new 0.9 percent HI tax on self - employment income will be deductible for income tax purposes.