Sentences with phrase «tax terms»

Our conclusion is that there needs to be a level playing field in tax terms.

After the completion of the project, favourable tax terms will be given.

As simple as these programs can be, you may have experienced a new situation this year or a fancy tax term will leave you scrambling for help.

These commonly used tax terms have been in the news a lot lately, but many don't understand the differences between them.

Here are 20 basic tax terms you should know.

Since, this route is very expensive in taxes terms, your taxes will amount to $ 220.

(Just as reasonably, you could convert taxable yields into after - tax terms by multiplying by 1 minus your tax rate, but that's just not the way it's done.)

Understanding common tax terms including gross income and taxable income can help individuals navigate tax accounting in...

Understanding common tax terms including gross income and taxable income can help individuals navigate tax accounting in...

And for more tax terms put in simplified language, visit the Glossary page on this website.

Combined income, sometimes referred to as provisional income, is an Internal Revenue Service tax term that includes your adjusted gross income from your tax return plus nontaxable interest and one - half of your Social Security benefits.

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.

I also recall being surprised that the course was almost entirely intricate math related: all sorts of math — needing to be memorized — formula, algorithms, tax terms relative, and how it all related to supporting clients interested in acquiring or disposing of commercial or industrial property.

If you're making a charitable donation, giving stock could help you come out ahead, in tax terms.

By valuing each unit during each phase of use, you can determine your adjusted cost base (ACB)-- a tax term that refers to the change in an asset's book value.

Capital Cost Allowance (CCA) is the tax term for depreciation and is used when capital assets are purchased.

The tax term for such depreciation is «capital cost allowance» (CCA).

Trouble understanding the tax terms?

Learn what those tax terms really mean.

Furthermore, the court concluded that a purchase offered a better use of money than a rental property both in investment and tax terms.

I life insurance loan is typically tax free (unless it was set up as a Modified Endowment Contract - this is a tax term, but important to know if it is a MEC), but if there is a gain in the policy and if the loan causes the policy to lapse in the future, the gain may be realized on your tax return as ordinary income.

By structuring the tax terms of the settlement agreement to allow for some flexibility, a neutral accountant can review the situation on a yearly basis and adjust accordingly.

A tax term which refers to the value of property for the purposes of determining whether or not a profit or loss has been realized upon sale or transfer.

Cost basis is a tax term for the dollar amount assigned to a property at the time it is acquired, for the purpose of determining gain or loss when it is sold.