"Additional taxes" refers to extra charges or payments imposed by the government on individuals or businesses, apart from the usual taxes they are required to pay. These
additional taxes are levied to generate more revenue for the government and fund specific programs or initiatives.
Full definition
A member whose total contributions in a year exceed the contribution caps may be liable for
additional tax on the excess contributions.
Governments also gain revenue by way
of additional taxes on income at the Federal level, and various royalties and so on at the State level.
Not only will this provide you with
additional tax benefits, you will also have the option to borrow against these accounts later if your child needs additional financial help for school.
Essentially, if these expenses are forgotten, you will end up
paying additional tax for both the corporation and personally.
Let's also assume that the couple pays around $ 1,500
in additional taxes by filing separately.
The report said the five million low - earning people affected had been an «unreasonable target for raising
additional tax revenues».
This type of loan comes
with additional tax consequences, so you'll need to budget for that with your accountant.
If you're filing for bankruptcy and going through home foreclosure at the same time, you may not need to worry about
additional tax liability.
They function like hybrid annuity accounts except they are built off of whole and universal life insurance platforms which can offer
additional tax advantages.
Some states
offer additional tax benefits, such as an income tax deduction or tax credit for state residents on plan contributions.
And prospects for
providing additional tax relief to parents are up against the political appetite to make large tax cuts elsewhere while maintaining some constraints on deficits.
You may also be able to get
additional tax breaks by creating your own business if you're working as a 1099 employee.
It says tax - writing committees would provide families «
additional tax relief» that they are not prepared to describe yet.
The program is designed to operate
without additional tax rates, using state issued bonds to fund the refinancing.
If you're in the 25 % tax bracket you can expect to pay about $ 250
additional tax if you have $ 1,000 additional taxable income.
So if you already get the tax benefits from investing in a 401 (k), then you aren't
getting additional tax benefits by investing in an annuity.
Last year's business tax and estate tax reform also put hundreds of millions of dollars worth of
additional tax cuts into the fiscal pipeline for the next few years.
The mayor may even do the responsible thing and talk about the possibility of
additional tax increases and municipal layoffs.
However, fire officials say while
additional tax dollars are always welcome, it should never compromise safety.
In addition, turnover can
create additional tax burdens and trading costs could significantly reduce returns.
Essentially, this credit lets you
make additional tax - free gifts when you use up an annual exclusion, but you do have to file a gift tax return.
If you need to have
additional taxes withheld from your paycheck, obtain a new W - 4 form from your employer or human resources representative.
It's possible that you may
face additional taxes, but because of the complexity of tax law, you should consult a tax professional to get specific details about your tax situation.
By finding a way to save
additional tax free — and often matched — income, you are able to save money and prepare for the future.
As with signing over the death benefit, you will also
receive additional tax related benefits for implementing this strategy as well.
The verdict is out whether this is because of his refusal to release
additional tax returns, or just because he is less familiar to people than the sitting president.
They are no doubt making a great deal of money from this as well as the exchanges and Bitcoin businesses will
bring additional tax revenues.
Our bond upgrade provides a unique window of opportunity to stay in front of rising interest rates and we can accomplish this investment without
raising additional taxes.
However, the measure can only take effect if the voters
approve additional tax increases to pay for increased funding.
Phrases with «additional taxes»