Sentences with phrase «by taking advantage of these deductions»

Finally, you can reduce your income taxes by taking advantage of every deduction and credit that is legally available to you on the federal and state levels.

If a person plays his cards right, he could drastically reduce his tax by taking advantage of these deductions.

Not exact matches

You may also be able to minimize plan costs by taking advantage of government tax credits and deductions.

The Section 179 deduction is the most - used tax credit by small businesses, with more than a third of business owners reporting taking advantage of it, according to a March NSBA tax survey.

The bump may be temporary, though, driven in part by the passage of the Tax Cuts and Jobs Act (TCJA) in December, which motivated some residents of high - tax states to prepay their taxes in 2017 in order to take advantage of the state and local tax deduction that's capped at $ 10,000 starting in 2018.

It's an «extra» tax imposed by the IRS to prevent wealthy taxpayers from taking advantage of so many credits and deductions that they effectively avoid paying any taxes at all.

Most of the new money would be paid by taxpayers who can no longer take advantage of former deductions.

Cortland County is trying to clarify New York State Property Tax Pre-Payment Plan, established by an executive order from Governor Cuomo which offers property tax payers the opportunity to pre-pay their property tax bill ahead of time to take advantage of deductions that may not be available with the new tax plan.

Hundreds of local residents took advantage of an executive order by Gov. Andrew Cuomo allowing taxpayers to make advance payments on their 2018 property taxes before changes to the federal tax code restricts tax deductions.

March 2018 by William Meyer The lower tax rates and higher standard deductions make taking advantage of Roth IRAs more attractive now.

March 2018 by William Reichenstein The lower tax rates and higher standard deductions make taking advantage of Roth IRAs more attractive now.

So long as our taxable income (which in retirement will be the amount we convert from our Traditional IRA to our Roth IRA and dividends from our taxable account if over and above our deductions and exemptions) is below that threshold, we can and will take advantage of the 0 % long term capital gains tax by selling our highly appreciated assets in our taxable brokerage account.

Get the best value from your tax return by taking advantage of all the tax deductions and credits available to you.

In fact, by taking advantage of the standard deduction, you could convert as much as $ 24,000 per year from your traditional IRA to a Roth free of tax.

By timing certain expenditures, you can better take advantage of specific deductions.

Quarterly management reports — Break out business expenses by employee and merchant type so you can take advantage of tax deductions.

Years ago, it was designed to ensnare crafty taxpayers who tried to take advantage of the tax deduction by calling payments alimony when they were actually dividing marital property.

By taking advantage of all applicable tax deductions, investment property owners can increase their revenue and reduce their tax liability, opening the possibility to purchase additional properties.

As the deadline to file taxes approaches, the Cortland County Board of Realtors ® wants to remind homeowners of the many tax benefits, savings and deductions they can take advantage of simply by owning a home.