Sentences with phrase «count on deduction»

Many middle - class homeowners count on deduction as a way to save or a way to make ends meet, and the powerful real estate industry also depends on the mortgage interest tax.

Many middle - class homeowners count on deduction as a way to save or a way to make ends meet, and the powerful real estate industry also... View Article

I never really try to count on this deduction or that deduction because it's all a bit much for me to understand.

Not exact matches

While not all of the costs are necessarily borne by taxpayers — i.e., your employer might pay a share of your health insurance premiums — many out - of - pocket expenses count toward the deduction (more on that below).

Room and board during school counts; however, if you used any of your student loans to fund personal expenses not related to education, you must reduce your deduction so you aren't deducting interest paid on this portion of your loans.

But we don't count those foreign jobs when we calculate productivity (and the deduction to GDP on account of imports is generally smaller than the corresponding loss of U.S. employment), so foreign outsourcing has the effect of boosting measured productivity.

Counting your IRA contributions as tax deductions depends on the type of IRA you invest in, the retirement plan your employer offers, and your income.

(Other perks: pajamas count as work attire, book purchases count as tax deductions, zoning out on Facebook at night counts as «platform building.»)

Democrats like Senate Minority Leader Charles Schumer and House Speaker Nancy Pelosi are counting on Republican representatives from their states — New York and California — to be the vanguard against halting the deduction, which Cuomo said last week would cost 3 million New Yorkers more than $ 17 billion.

A school can lose points on the state report cards (a 5 - point deduction) if its test participation falls below 95 percent; however, a individual student who opts out of taking a required assessment is not counted in the calculation (i.e., is left out of the calculation) of proficiency rates for his or her school or district.

This isn't a fun feeling but on the slight positive, the amount of capitalized interest counts towards your $ 2500 deduction.

Counting your IRA contributions as tax deductions depends on the type of IRA you invest in, the retirement plan your employer offers, and your income.

Contributions to a qualified workplace retirement plan, such as a 401 (k) or 403 (b), have essentially the same tax - lowering effect, but they are not technically tax deductions, since they are not counted as current - year income and therefore do not appear on your tax return.

Does it still count as an RRSP deduction even if the contribution was made directly and I haven't paid tax on it?

For example, if you buy something in December with a credit card, and then pay off the credit card balance in January, you still count the expense as having occurred in December, and claim your deduction on that year's tax return.

The Internal Revenue Service counts interest paid on a home equity loan as qualified toward the mortgage interest deduction, but with a few strings.

It's also not counted as a charitable deduction, because you never paid tax on, it so it's a wash.

The business deductions count against the borrower because mortgage eligibility is based on net income.

However, it's not wise to count on the lender's site to prove your tax deductions for purchases or to prove a purchase should you require a refund on something you've purchased.

It counts as a deduction, which might reduce your tax bill by 50 cents or not at all, depending on your situation.

The IRS will not count the amount forgiven by the mortgage holder as income to the seller, thus giving distressed borrowers incentive to sell short rather than default; (2) restored the tax deduction for mortgage insurance premiums that expired at the end of 2011; (3) the mortgage interest deduction untouched; and (4) tax relief for mortgage debt forgiveness was extended another year; providing homeowners tax relief on loan modifications, short sales and foreclosures.

Many homebuyers count on taking advantage of the mortgage interest and property tax deductions after buying a home.