Sentences with phrase «year safe harbor»

Most people simply rely on the «total tax» figure from their tax return to determine the amount of withholding and other credits needed to qualify for the prior year safe harbor.

In many cases, the best way to determine the amount of estimated tax to pay is the easiest: use the prior year safe harbor.

Your withholding and credits for 2009 will be $ 21,000, so you can't rely on the prior year safe harbor to avoid paying estimated tax.

We call this the prior year safe harbor.

If you qualify, the prior year safe harbor is a safe way to avoid the penalty for underpayment or estimated tax, no matter how large the underpayment is or how obvious it was that you would end up having an underpayment.

Some people wonder whether they're permitted to use the prior year safe harbor even if they know they're going to owe more tax for the current year.

If you use the prior year safe harbor for this year, you'll pay $ 30,000 more than necessary, so it makes sense to base your payments on 90 % of the current year estimated tax.

There's a rule that requires taxpayers with adjusted gross income above $ 150,000 on the prior year's return ($ 75,000 if married filing separately) to pay 110 % of the prior year's tax (not just 100 %) when applying the prior year safe harbor.

If you have good reason to believe that 90 % of your current year's tax will be significantly lower than your prior year's tax, you'll pay a lot more than necessary if you rely on the prior year safe harbor.

The majority of people who pay estimated tax rely on the prior year safe harbor.

Not exact matches

«Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do, so throw off the bowlines, sail away from safe harbor, catch the trade winds in your sails.

Safe harbor plans offer a simple trade - off: employers can avoid the hassle and expense of annual testing on their 401k plan, but they have to offer contributions that are fully vested at the time they're made and notify employees about the nature of the 401k plan each year.

Changing political circumstances altered political ideals over the next seventy years, such that pro-Catholic thinkers such as Félicité de Lamennais gradually began to endorse liberalism's doctrine of religious liberty as a way of providing safe harbor for the Church's social influence within a French state that was no longer officially Catholic.

After this piece of the law went into effect in August, religious nonprofits were given «safe harbor» of one year from implementing the law.

In fact, the «safe harbor» provisions in NCLB mean that all schools do not have to meet fixed targets across the board each year, but only make some improvement in order to make adequate yearly progress.

The safe harbor provision in NCLB was a crude way to measure growth, but it at least attempted to account for the fact that not all students come in with the same achievement levels and we can't expect schools to erase those gaps in a single year.

Here is an excerpt: «'' The amendment for consolidated schools includes a petition option: «If a consolidation results in a change of forty (40) percent of the receiving school's population, an LEA may petition to have the school's safe harbor targets that will be used in determining adequate yearly progress (AYP) for the next school year recalculated based on the school's new population.

However, for the purposes of determining AYP via safe harbor for the year following the consolidation, the District of Columbia would recalculate the safe harbor targets based on the consolidated population (i.e., based on the previous year's assessment results for all students from the sending and receiving schools that constitute the population of the consolidated school).»

After the 2016 election and the year - which - will - not - be-named-please-god-leave-it-out-of-the-history-books (last year, and may it never come again)... this is like a safe harbor after hurricane travel.

o All part - year residents, nonresidents and «safe harbor» residents must send a copy of their federal return with their Maine return.

Rare to find a Point Lot only available every 15 - 18 years - 130 feet - bring your mega yacht safe hurricane harbor, extra deep at dock, Huge patio and pool area with extra side yard.

This safe harbor market was responsible for the 10 GW of turbines ordered last year, which qualified for 100 percent of the PTC that's eligible to be installed any time during the next four years.

The FCC and FTC aren't known for their sense of humor, but ads for those ran for years (perhaps thanks to a disclaimer to the effect of, «for entertainment purposes only» — a safe harbor I would imagine is just as applicable online).

Patricia White, dean of the University of Miami School of Law, advised prospective students not to «look to law school as a safe harbor» to wait out the current economic storm, and even offered incentives to students willing to defer admission for a year.

In truth what they are saying is that if you lied on the last life insurance application and have made it to the sort of safe harbor beyond two years, and you intend to lie again when you apply for a new policy to replace it, then you might want to stick with what you have and avoid replacement because liars are at risk in the first two years.

The ABA Section of Taxation recommends that the IRS impose a set of temporary rules «in the form of a safe - harbor» to taxpayers who transacted in a forked currency as a result of a hard fork during the 2017 tax year.

The Stop Online Piracy Act (SOPA) is a nasty, totally broken little power grab of a bill that would effectively end the concept of «safe harbor» that has allowed the internet to grow and thrive over the last ten years by allowing the government to add websites to a DNS blacklist for posting any kind of copyrighted material, fair use or not.

Sure enough, a dozen years after the original Australia - U.S. Free Trade Agreement, the government has now announced that for web platforms, the safe harbor drafting error will not be corrected for now, thereby leaving platforms exposed to claims from copyright owners over user - uploaded content.

January 11, 2012: On Thursday, Jan. 10, 2013, NAR achieved a significant victory in obtaining a safe harbor in the QM rule for loans underwritten to the automated standards of the GSEs, FHA, VA, and RHS and within their respective loan limits for up to seven years and with regard to the GSEs, seven years or whenever they leave conservatorship.

Revenue Procedure 2008 - 16 provides a safe harbor where the Internal Revenue Service will not challenge the character of a vacation property when in each of the two years held, the property is rented at fair market rent for fourteen days each year.

To be sure, buyers from Hong Kong and Mainland China have been migrating to North America in spades over the last 20 years, especially since 1997 when Hong Kong was handed over to China and residents and investors sought financial safe harbor in overseas real estate.