Sentences with phrase «applies for joint filers»

The same applies for joint filers with income exceeding $ 250,000.

Not exact matches

Notably, the deduction only applies to «qualified business income» and can't be claimed by taxpayers in service businesses (excluding architecture and engineering) for single filers with taxable income above $ 157,500, and $ 315,000 for joint filers.

In higher tax brackets, the earned income credit won't apply, anyway, but some of those other deductions could be highly beneficial for joint married filers as deductions play a role in reducing your overall annual earnings, also known as your adjusted gross income, or AGI.

There are phaseout income limits that apply to «professional services» business owners such as lawyers, doctors, and consultants, which are set at $ 157,500 for single filers and $ 315,000 for pass - through business owners who file a joint return.

(In 2017, that rate applies to taxable income between $ 37,950 and $ 91,900 for singles and between $ 75,900 and $ 153,100 for joint filers.)

Also, a tax exemption applies for taxpayers older than 65 who either have income less than $ 33,000 (single filers) or $ 59,000 (joint filers).

The top rate applies to taxable income over $ 85,750 for single filers and $ 141,200 for joint filers.