Sentences with phrase «annual federal tax deduction»

There, and elsewhere, more people are donating land for protection, cashing in on the annual federal tax deduction of up to 50 percent of adjusted gross income.

Not exact matches

To better compare income tax burdens across counties, we applied relevant deductions and exemptions before calculating federal, state and local income taxes for a family making $ 50,000 annual income in each location.

The existing federal annual expenditure on childcare of $ 26 billion plus a portion of the federal tax expenditure for charitable contributions is more than sufficient to cover the $ 42 billion bill, while leaving a substantial charitable contribution deduction in place.

However, it's never too soon to start planning for your annual federal and state income tax deductions.

If you itemize your deductions and live in a state that imposes an annual personal property tax based on the value of your car, you may deduct that tax on your federal return, Phillips said.

• Prepared quarterly and annual state and federal tax returns according to the latest tax code, applying all applicable deductions and credits to minimize tax liability.