Sentences with phrase «also lose your tax»

For example, a government - backed loan in default can subject the borrower to an administrative wage garnishment (that is, a garnishment without the creditor first obtaining a court judgment) of 15 % of disposable income, and this would be in addition to any state law garnishment by another creditor (under New York law, of several creditors have judgments against a debtor, only one at a time can garnish 10 % of wages, but a government student loan can be imposed on top of a state law garnishment.A borrower can also lose tax refunds if in default on a government student loan.

Warren, You also lose the tax deductible status of the loan.

The trustee gets paid, but you also lose your tax refund, and you may got caught in the surplus income trap, so there are lots of costs to consider.

That's because if you hold them in an RRSP and they drop, you not only lose money, but you also lose the tax - deduction value of a loss in your RRSP.

Not exact matches

You can lose any tax benefits you have enjoyed, retroactively, and penalties can also be imposed.

Individuals may also want to consider paying up their state income taxes this year, particularly if the deduction for those taxes is lost.

You can also touch a Roth without the 10 penalty using the same strategy, although I understand you will pay taxes so you lose the Roth's advantage.

Not only are you stuck with a huge capital gains tax bill, you also have to pay it after losing your previous gains.

We know that while consumers are strongly attracted to «free TV,» they also spend an enormous sum supporting it, through the purchase of their TV sets, the cost of electricity, and the add - on costs to every item they purchase which is advertised, not to mention the lost revenue in tax - deductible billions spent by advertisers.

She also said that the Park District, along with other park districts in Illinois, lost its authority to issue non-referendum bonds due to tax cap legislation approved by the state legislature in the early 1990s.

Ellner had already done time on federal tax evasion charges at that point, lost his law license and gotten it back again and also rented an apartment in a house that Levy owned and lived in during a separation from his wife, Colleen.

* finally, when the Tories introduce their # 150 marriage tax break through transferable allowances (which 1 in 3 married couples will get, though double - earner households won't), that will also be lost by anybody who gets it at the same point, exacerbating further this marginal rate issue at that point.

That seems implied by your comment that the «state's tax climate also matters» and adding that the state faces a $ 4 billion deficit, plus additional lost revenue from federal changes to health care and tax policy, which is estimated to be over $ 2 billion.

The union pointed out that procuring abroad can also lead directly to job losses, as well as lost tax revenues.

Furthermore it also causes local and state government to lose profitable tax revenue.

«It is also essential that the Governor and New York business, labor and civic leaders work with President Bush, the New York Congressional delegation, and the leaders of the U. S. House and Senate to secure direct federal assistance for the tax revenue that the state is losing as a direct result of the September 11 attacks,» said Mauro.

Attorney General Eric Schneiderman and New York City Corporation Counsel Zachary Carter are seeking $ 180 million from Atlanta - based UPS, saying the cheap cigarettes increased smoking by New Yorkers while also costing $ 29.7 million in lost tax revenue.

There is also a danger that as jobs are lost, tax receipts will fall and a second recession could ensue.

He also says that anyone who has a record of their bet, like people who had to go to the IRS window to cash a bet and pay taxes on winnings, will be able to collect payments they lost.

Joseph Pacher said local communities also would lose tax dollars now paid by the plants if they were to close.

Balls will also mention tough measures to tackle tax avoidance, including a promise to close the «eurobonds» loophole, which allows companies to shift profits out of the UK and has been estimated to cost up to # 500m a year in lost revenues.

Losing the millionaire's tax would also torpedo the governor's plan to offer free tuition at CUNY and SUNY in the future to the students who attend our public schools now.

The Syracuse Common Council, which reviews tax breaks awarded by SIDA, also would lose the opportunity to seek specific benefits such as local hiring quotas or job training programs.

Cuomo also talked about the possibility of establishing a payroll tax and exploring other avenues to help make up for lost state and local tax deductions under the new federal tax law.

Tax revenues will also go up, as the city has already gained back two - thirds of the private - sector jobs that it had lost during the recession and should have them all back in 2013, the budget office projected.

• Alexander also announced that the government will step up its efforts to recover money being lost through tax evasion and tax avoidance by setting up a new «affluent team» in HM Revenue and Customs.

He also said the Tories wanted to introduce a transferable tax allowance to help stay at home mothers, but aides admit this policy would not help the higher rate taxpayers losing out from the child benefit cut.

«IOGA of NY calls on the agency to also determine the full negative impact this delay has had on the state, especially the Southern Tier by examining lost sales, income and property tax revenue; outward job migration and jobs lost to other states; how the higher cost of fuel has impacted business growth in the state; and how many foreclosures could have been avoided.»

Schumer also stressed that under the proposed Republican compromise, New Yorkers would lose the vast majority of the tax savings they get through the SALT deduction.

But some suburbs like Long Island are also losing young people due to housing costs, including property taxes, while older residents leave because of both those taxes and the estate tax.

The IDAs would also lose much of their power to issue tax breaks, limiting it to the government they represent so that the Amherst IDA could only ease town taxes not those of every government and school district in the county as it can now.

The trade also costs the city about $ 1 billion in lost taxes each year, she added.

Wilcox also recommends a tax credit for benefits lost upon marriage.

They have also said that # 335 million will be put forward to make sure that no school loses from a funding overhaul, which is expected to be paid for by corporation tax.

Indiana state tax money follows children to whatever schools they attend, so public schools that lose students also lose revenue.

Also, I have had recurring issues with them losing track of my tax information that I set up with them so they could actually pay me for what few sales I've had with them.

When a policy lapses, you not only lose your coverage but also will have to pay income taxes if the outstanding loan is greater than the amount you've paid in premiums.

Also I hold this inside my RRSP so I'm not losing the dividend tax credit on this.

Filing separately may bring some advantages, such as no joint liability and potentially lower taxes depending on your situation, but could also cause you to lose out on possible credits and deductions.See note1

You will also lose its potential returns and all of its future's tax - deferred compounding.

Also... a savings account strategy loses here also... as the money earned on a savings account is accrued, and TAXABLE, while the lower effective rate on a properly managed heloc is tax deductaAlso... a savings account strategy loses here also... as the money earned on a savings account is accrued, and TAXABLE, while the lower effective rate on a properly managed heloc is tax deductaalso... as the money earned on a savings account is accrued, and TAXABLE, while the lower effective rate on a properly managed heloc is tax deductable.

Your wife would also lose the benefit of tax - sheltered compounding in her RSP which would be substantial given your ages and savings.

So far, the media coverage of the report, as well as the Parliamentary Budget Officers's report on TFSAs also released Tuesday, has focused on about the billions it will «cost» the government in lost tax revenue.

My extire tax returns was taking for 2015 and all the funds went to department of education and the fact that they took over 8,000 and I lost my apartment I'm currently still homeless and I'm also divorced and lost my vehicle to theft and to get even more worse my son was air lifted from school I had to miss work and I lost my job behind the the issues with my son and I don't have a good credit score because department of education and I was pressing the issues that the school was not accredited by no state and I have to pay for a service that I can't even get a job in the field I went to school for.I don't know what to do honestly about the filing for 2016 returns cause I was not offered a option to get my money back from 2015 returns cause I was really in the need for my money I worked hard for.

While you must pay income taxes on the withdrawals (and be mindful you're also losing out on future investment returns), if you are younger than age 59 1/2, there is no «early» withdrawal penalty.

Bankruptcy law dictates that any tax refunds owing for years prior to your bankruptcy will also be lost.

If you have a defaulted FFEL Program loan that is held by a guaranty agency, your state tax refunds may be also withheld and applied toward repayment of your loan, and you may lose your driver's license or other state - issued licenses.

Sam and Judy also have two children under age 17, but their joint income is $ 130,000, meaning they will lose some of their child tax credit.

We also present the fund's tax cost ratio, a calculation designed to capture the amount of a fund's distributions that's lost to taxes.

The Oakland Chamber of Commerce has said that sales have dropped 40 % at surrounding businesses as customers are afraid of being harassed going downtown (this also means lost revenue for the city in terms of sales taxes)