Sentences with phrase «tax purposes for»

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

Not only can you file as a resident — you must file as a resident, because you are a resident alien for tax purposes for all of 2014.

After living in the US for 5 years, I filed income taxes as a resident alien for tax purposes for the years 2013, 2014 and 2015.

As a result, investors will receive an official tax statement from their broker detailing the type of income they have to report for tax purposes for the entire year and not for each distribution.

An individual in USA is a non-resident alien for tax purposes for the whole year.

@ San: The TFSA contribution room starts in 2009, if you were turned 18 or older and are a Canadian resident for tax purposes for each year.

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.

Not exact matches

We focus on income differences, since that is how lower -, middle - and upper - income classes are defined for tax purposes.

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.

The federal government recently announced that it is killing the «tampon tax,» effective July 1st, by removing the GST on products that are «marketed exclusively for feminine hygiene purposes.»

These new contributions will be accounted for separately and will be deductible for tax purposes — unlike current CPP contributions which only get a non-refundable tax credit.

Coinbase has also been battling an IRS inquiry in recent months that seeks information about cryptocurrency buyers and sellers for tax purposes.

If you converted a traditional IRA to a Roth IRA last year and need to undo it for tax purposes, October 15 is the absolute deadline to «recharacterize» the Roth account.

But taxpayers would, the argument goes, be allowed to fully deduct the amount on their federal tax returns because the new law still allows most charitable giving to be deducted for federal 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.

Here are the main points: The IRS has decided that, for tax purposes, it will not treat Bitcoin like currency, which similarly depreciates or increases in value.

One thing, however, is clear: Although both the public and the crypto community refer to bitcoin and altcoins as virtual currencies, the IRS treats them as property for tax purposes.

Almost every bitcoin or other «altcoin» transaction — mining, spending, trading, exchanging, air drops, etc. — will likely be a taxable event for U.S. tax purposes.

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.

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 bonFor 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 bonfor the year attributable to ordinary shareholders has been adjusted to include the coupon, net of tax, on the perpetual bonds.

The company didn't need to — its funds were stashed in subsidiaries incorporated in Ireland, but that, on paper at least, had no home country for tax purposes.

You also want this for tax purposes.

Riverwalk is an easy target because it is highly visible, has a large price tag, and is financed with a federal loan backed by a local motor fuel tax that, some argue, could be better used for purposes such as municipal schools.

«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.

Dig Deeper: Travel Tax Deductions How to Write Off T&E: Entertainment Like meals and lodging while traveling, entertainment for business purposes is 50 percent deductable.

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

A few years ago, incorporation for tax purposes was still a rather exotic procedure for many Canadians who could benefit.

Musk's sale generated nearly $ 600 million in proceeds for the Tesla CEO, which, according to the company, he used for tax purposes.

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.

Learn how to navigate an IRS compliance check for independent contractors and classify workers properly for payroll tax purposes.

Capital gains so realized will be treated as dividends for tax purposes.

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.

Keep in mind that an ITIN can only be used for U.S. tax purposes; it can not be used as identification for any other purpose (such as qualifying for U.S. citizenship or Social Security benefits).

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.

When the government required electronic invoicing for tax purposes in June 2010, Avon's computer systems, already nearing capacity, were further strained.

Williams said he executes more than two cryptocurrency trades a day, and uses an online service called CoinTracking to record those transactions for tax purposes.

Taxpayers who qualify as real estate professionals generally have been able to get a bigger tax break for those losses, which could prod some people to try passing as one for tax purposes.

Obviously, most businesses would find it preferable for tax purposes to make a negative adjustment in the current year and spread a positive adjustment over subsequent years.

One issue is whether you will remain a Canadian resident for tax purposes.

A statutory nonemployee, which includes direct sellers and licensed real estate agents, is treated as self - employed for all federal tax purposes, including income and employment taxes.

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.

For estate - and gift - tax purposes, an ideal valuation is one that's as low as possible, to minimize tax liabilities.

It arrived at the opinion that the arrangement with the office in Europe existed not for any bona fide business purpose, but rather was «a sham» intended to reduce its tax bill.

A court recently ruled that Coinbase must report information on 14,355 customers to the IRS for tax accounting purposes, an outcome Armstrong regards as a partial victory.

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.