Sentences with phrase «state income tax depending»

State income tax depending upon where it is owned.

Invest in high - quality, short - term municipal money market securities that are typically exempt from federal income taxes and may be exempt from state income taxes depending on your state of residence.

Invest in high - quality, short - term municipal money market securities that are typically exempt from federal income taxes and may be exempt from state income taxes depending on your state of residence.

Not exact matches

While you may reduce your state income tax, property taxes could double or triple, depending on where you move.

Tax exemptions In general, the interest you earn from your tax - exempt municipal securities is exempt from federal income tax and in some cases, state or local income tax, depending on whether you are a resident of the state that issued the boTax exemptions In general, the interest you earn from your tax - exempt municipal securities is exempt from federal income tax and in some cases, state or local income tax, depending on whether you are a resident of the state that issued the botax - exempt municipal securities is exempt from federal income tax and in some cases, state or local income tax, depending on whether you are a resident of the state that issued the botax and in some cases, state or local income tax, depending on whether you are a resident of the state that issued the botax, depending on whether you are a resident of the state that issued the bond.

One other option to consider, depending on how much in taxes you're looking to save: the residency requirements as they relate to prize claims, state taxes, and income reporting.

Whether individuals or households will pay more or less will depend on a wide variety of factors, including whether they take the standard deduction, which reduces taxable income by a fixed amount, or they take targeted tax deductions, like subtracting mortgage interest or state and local taxes.

Like the majority of the nation, Oklahoma has a progressive state income tax system with six tax brackets depending on income level and filing status.

The savings will grow tax - free until college, plus it could give you a deduction against your state income tax, depending on where you live.

The answer may depend on which «middle class» is being talked about: New York's higher - income, higher - taxed middle class or lower - income, lower - taxed counterparts in states like Mississippi and Texas.

The future of our state depends on a comprehensive, balanced approach including a fair and progressive state income tax system.

But Pennsylvania faces a $ 2 billion budget deficit even without that new spending on schools, and so Wolf's plan depends on changes in state taxes, including a new tax on gas production and increases in both personal income and sales taxes.

But it's not the most generous in all circumstances, depending on a family's income, the number and ages of their children and a state's income tax rates.

For instance, depending on your total income, you might have to pay taxes on your Social Security benefit, you could lose various tax credits and you might have to pay state income taxes.

Depending on the U.S. holder's specific circumstances, dividends may be subject to an additional 3.8 % tax on passive income as well as state and local taxes, and may increase the holder's alternative minimum tax liability.

Gambling winnings are taxed when you file just like normal income so your roommate will now have to pay federal tax on $ 100,000 income (between 24 % and 40 % federal, depending on when it is reported and other income he / she has), and potentially state income tax, while the «winner» got $ 80K tax - free instead of paying tax on $ 100K.

Whether you pay federal and state taxes on Social Security income depends on your location, age, income and filing status.

Depending on your state, contributions made to the account may give you a break on your state income taxes.

The income muni bonds generate is not subject to federal income taxes and may not be subject to state and local taxes, depending on who issues the bond and where the investor lives.

Depending on the amount of income generated in the UGMA account or UTMA account and any other income the child may have, the child may need to file his or her own federal (and possibly state) income tax return and taxes may need to be paid.

Depending on where you live, you could potentially deduct contributions from your state income tax forms (note: you can not deduct contributions on federal tax returns).

How much the tax break is worth to you depends on your income tax bracket and the state in which you live.

Depending on your tax bracket, you may pay tax on the dividends of as much as 20 % of the $ 228, as well as state income tax, if applicable.

You may have the ability to file and pay your state income taxes online, depending on your particular situation (i.e., how much money you earn and what state you live in).

The period over which you deduct (the «depreciation schedule») depends on the type of the expense and the type of the income, so you better get a guidance from a licensed tax accountant (EA or CPA licensed in your State).

Instead of having to make $ 1.25 - $ 1.40 (depending on what your federal and state income tax rate is) to have a $ 1 worth of travel covered, you only have to do a tiny bit of work and have your credit scored a little more frequently than you might like.

Distributions from Traditional IRAs are subject to federal income tax and state tax depending on the state in which you live, and, if taken before age 59 1/2, a 10 percent premature distribution penalty may apply.

You also must file a new state return if your state tax obligation depends on federal adjusted gross income.

* Investment income may be subject to certain state and local taxes and, depending on your tax status, the federal alternative minimum tax.

Depending on your province of residence and how much of your stated family income is yours versus your spouse's, you're probably paying a marginal tax rate of between 30 % and 45 %, with corresponding RRSP refunds to be generated accordingly.

He uses gross income rather than net income because net income depends on where the borrower lives; state income taxes vary a lot.

Whether or not state income taxes need to be paid will depend on the state in which you live; some states do not have an income tax, and others may exempt all or part of retirement income.

But despite fiscal problems in some cities and states, tax - advantaged muni bonds are a key portfolio component for many high - income investors with a relatively low risk tolerance, as well as retirees who depend on the stable income.

Depending on the tax - preparation software used and where you live it may also be possible to file your state income tax online.

If April 15 is bearing down on you and you are looking for tax savings, opening an IRA starts to look pretty good even in the near term: For your 2015 taxes based on 2014 earnings, you may stash $ 5500 ($ 6500 if you are over 50) in an IRA and, depending on your income and tax bracket and whether your state has an income tax, you may realize enough savings from tax deductions to offset the cost significantly — as much as $ 1000 or more.

On Intuit's web site they state regarding attaching their income to my return «depending on the level of your income, [this] may result in higher income tax than if you prepare a separate return for your child.

The nuances of the new tax laws are complex and will impact individuals in different ways depending on their sources of income and mortgage and state tax expenses, but the legislation holds opportunities for American taxpayers to continue supporting their favorite charities without adverse consequences.

However, when these assets are passed to your heirs (other than your surviving spouse), they are subject to federal income tax and may also be subject to federal estate tax (depending upon the value of your estate) as well as various state income, inheritance and estate taxes.

To avoid burdening low and moderate - income households, carbon tax proceeds should be returned to Americans through periodic pro rata «dividends» or dedicated to reducing the tax burden of regressive taxes such as the federal payroll tax or state sales taxes (depending upon whether the tax is imposed at the federal or state level).

Whether or not a long - term care policy is eligible for income tax deduction depends on the nature of the specific policy and the age of the policy holder, however, some states offer tax credits.

Depending on where you live, you could potentially deduct contributions from your state income tax forms (note: you can not deduct contributions on federal tax returns).

Your capital gain could be as high as 20 % (depending on your income), 3.9 % for obummer tax, and 13.3 % for state income (highest bracket of 1m + income) which can go up to a max of near 37.2 %!