Sentences with phrase «tax reduction purposes»

But this salary is subject to payroll taxes which can defeat the purpose of setting up a corporation for tax reduction purposes in the first place.

Not exact matches

Furthermore, we will calculate the state and local income tax savings by applying this 5 % rate to the reduction in our taxable income, as determined for U.S. federal income tax purposes, as a result of the tax attributes subject to the TRAs.

The potential tax benefits from investing in MLPs depend on their being treated as partnerships for federal income tax purposes and, if the MLP is deemed to be a corporation, then its income would be subject to federal taxation at the entity level, reducing the amount of cash available for distribution to the fund which could result in a reduction of the fund's value.

Miscellaneous tax changes reported to be part of the package include several priorities of the business community, including: a favorable change in how the securities industry allocates its receipts for tax purposes, from the address of the firm to the address of the customer; an updating of a sales tax exemption for capital purchases by the telecommunications industry; a reduction in the ton - mileage tax; a rate reduction for small businesses; and creation of an investment tax credit for the securities arms of insurance companies.

However, if your income for surcharge purposes is above the thresholds, you may receive too much rebate (premium reduction), and you may incur a private health insurance liability when you lodge your tax return.

«We can utilize these funds for public purposes,» Brown said, «property tax reduction, economic development, [or] tourism and promotion, reduction of energy costs.»

A carbon tax is unlikely to do much to address the needs of low - income households, just as greenhouse gas reduction is not the main purpose of low - income weatherization.

I also prepare an invoice indicating the total reduction in price because it is important to communicate the value of your work (also for tax purposes).

In addition to providing consumers with appropriate disclosures, the purposes of RESPA include, but are not limited to, effecting certain changes in the settlement process for residential real estate that will result in (1) the elimination of kickbacks or referral fees that Congress found to increase unnecessarily the costs of certain settlement services; and (2) a reduction in the amounts home buyers are required to place in escrow accounts established to insure the payment of real estate taxes and insurance.