Sentences with phrase «value for income tax purposes»

However, a gift of assets to a non-spousal trust that names other persons as beneficiaries usually results in a disposition of those assets at fair market value for income tax purposes.

Not exact matches

The ACCA allows manufacturing companies to depreciate, for tax purposes, the value of newly purchased equipment and machinery at the accelerated rate of 50 per cent per year, reducing their taxable income in the first few years of owning the asset.

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.

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.

For federal income tax purposes, you may deduct as a charitable contribution the price of this ticket less $ 50, our good - faith estimate of the value of the goods or services received.

Therefore, the housing allowance (or rental value of the home) may be included in earned income for the purposes of calculating the Earned Income Tax Cincome for the purposes of calculating the Earned Income Tax CIncome Tax Credit.

say to me and surrender value add my income for tax purpose

Interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes.

Many Canadians took a deemed capital gain on their 1994 income tax return that pushed up the tax cost of certain capital assets for tax purposes — including their cottages — based on the market value at that time.

Using capitalization, the estimated income of the particular property is also a variable in the tax formula, contributing to the calculation of assessed value for property tax purposes.

Shareholders electing to receive distributions in the form of additional shares will have a cost basis for federal income tax purposes in each share so received equal to the net asset value of a share on the reinvestment date.

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.

If the donor shows a «detached and disinterested generosity,» the item given will be considered a gift for purposes of excluding its value from the recipient's income tax.

Loans are a great tool and provide income tax free access to your cash value for whatever purpose you desire, including investing in passive income opportunities.

Even though the death benefit is not income taxable to your beneficiary, the amount of the death benefit is added to the gross value of your estate for estate tax purposes unless it is owned by a life insurance trust.

In assessing the value of real estate for property tax purposes, there are 3 standard approaches that are employed: the Cost Approach, the Sales Comparison Approach, and the Income Approach.

D.C. has a generous Homestead Exemption that, depending on your income, lets you deduct money from your property value for property tax assessment purposes.