Sentences with phrase «depending on deductions»

The real number could be more or less depending on deductions, which is why it's so important to stay in the loop about your business.

Depending on your deductions and filing status, you may fall into a lower bracket.

Depending on your deductions, if you end up overpaying a bit you may end up with a welcome tax refund.

Federal taxpayers in those states depend on the deductions to ease the burden of high state taxes.

Not exact matches

Most households depend on a 401 (k) plan to save for retirement on the grounds that they receive a tax deduction today and pay ordinary income taxes when they take distributions later, presumably when they are in a lower tax bracket.

The actual amount you pay could be higher or far lower, depending on a variety of things like your income and expenses, deductions and your tax rate.

If you make more than $ 157,500 (filing singly) or $ 315,000 (filing jointly) and less than $ 207,500 (singly) or $ 415,000 (jointly), the deduction phases out and depends on exactly where your income falls.

Adding on to this, your business might be impacted by the coming changes to the tax code depending on how your business is structured, where you do business, and what deductions you are currently taking.

Save on your taxes now with a deduction, or save later with a tax - free withdrawal — it depends on the type of IRA you choose.

According to the IRS, whether or not a deduction is allowed for a prepayment depends on whether the taxpayer makes the payment in 2017 and the property taxes are assessed prior to 2018.

The tax deductions relevant to your situation will depend on what you spent and how you earned your money in the tax year.

Depending on how the trust is structured, the donor enjoys a current income, gift, or estate tax deduction on the donated assets.

The size of the Standard Deduction you can claim depends on whether you're filing as an individual or jointly with your spouse.

It seems that point deductions can result in a shop being temporarily excluded from search results or even being removed from the system altogether (depending on the severity of the violations).

Depending on how the trust is structured, the donor enjoys a current income, gift, or estate tax deduction on the assets donated to the trust.

Many taxpayers claim the standard deduction, which varies depending on filing status, as shown in the table below.

(Those who depend on itemized deductions, on the other hand, could potentially see their taxes increase.)

Content provided relates to taxation at the federal level only, and availability of certain federal income tax deductions may depend on whether you itemize deductions.

Your eligibility to claim a deduction for your Traditional IRA contribution on your federal tax return depends on whether you are an active participant of an employer - sponsored plan in the year to which your deduction applies.

Others reduce deductions, in which case their quantitative impact depends on the taxpayer's marginal tax rate: the higher the tax rate, the greater the value of the lost deduction.

Meanwhile, you still get most of your mortgage interest deduction, and only have to pay a slight amount of AMT, depending on the person.

Availability of certain federal income tax deductions may depend on whether you itemize deductions.

And depending on which deductions you take, like the home office deduction, your return is more likely to trigger an audit.

Of course, it could be argued that the additions outweigh the losses, but it all depends on the kind of business you run and the deductions that hit you the hardest.

The value of all of these deductions depends on the taxpayer's marginal tax rate and tax liability.

A donor's ability to claim itemized deductions is subject to a variety of limitations depending on the donor's specific tax situation.

Whether individuals or households will pay more or less will depend on a wide variety of factors, including whether they take the standard deduction, which reduces taxable income by a fixed amount, or they take targeted tax deductions, like subtracting mortgage interest or state and local taxes.

Depending on your situation, it could make more sense to take the standard deduction rather than itemize, so be sure to run the numbers to see which scenario works out the most in your favor.

Well, it will depend on how much you're paying for private mortgage insurance, your tax bracket and how big of a deduction will you be allowed.

This will depend on your income, the amount of your overall deductions and any changes in tax law.

Depending on interest rates, this may allow for a lower cost of borrowing and a greater tax deduction.

How the Trump tax plan affects you depends on your income, your current filing status and the deductions you take.

Taxpayers may be aware of numerous tax breaks, but depending on your income, many deductions may no longer be as valuable — or you may be ineligible entirely.

The answer to this really depends on their individual circumstances.There are many advantages to filing jointly; borrowers will be eligible for the student loan interest deduction and...

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.

You must be able to file a Schedule A with your tax return in order to take all of these deductions, but it may reduce your overall tax burden depending on your tax bracket and other factors.

Therefore, depending on the details, trading the SALT deduction for lower statutory rates is likely to result in lower effective marginal rates overall.

The savings will grow tax - free until college, plus it could give you a deduction against your state income tax, depending on where you live.

To be sure, not every moral principle is part of the core, but all moral principles are at least derived from it, if not by pure deduction (killing is wrong and poison kills, so poisoning is wrong), then with the help of prudence (wrongdoers should be punished, but the appropriate punishment depends on circumstances).

The only way is by offering price deductions as well as discounts depending on the quantity of products purchased.

Lobbyists whose tactics revolve around arranging advantageous tax deductions for a given industry would be impacted - this may be good or bad depending on your point of view.

Should deductions be eliminated for state and local taxes, the immediate impact would likely be on the school districts and communities whose budgets depend on that revenue.

In addition to federal funding being at risk, the tax reform plan proposed by Trump and the GOP, which will eliminate a popular state and local tax deduction on which high - tax states such as New York, New Jersey, California and Virginia depend.

The states that depend on SALT deductions are more likely represented in Washington by Democrats, leading to charges that the plan's GOP architects were committing geographic discrimination.

Where they come out eventually on it depends on what deductions are in fact permitted.»

On the eve of the House vote to approve the final draft of the GOP tax bill, Rep. Elise Stefanik said she would vote «no» because of limits placed on the state - and - local tax deductions upon which many New York taxpayers depenOn the eve of the House vote to approve the final draft of the GOP tax bill, Rep. Elise Stefanik said she would vote «no» because of limits placed on the state - and - local tax deductions upon which many New York taxpayers depenon the state - and - local tax deductions upon which many New York taxpayers depend.

Trump administration officials have insisted that when all the features of the tax bill are taken into account, those in New York and other states who now depend on the SALT deduction will come out ahead.

Taxpayers there depend on the SALT deductions in communities where salaries are generally high, homes are expensive and local property taxes alone can easily exceed $ 10,000.

Depending on the field of research, a deduction may be made from the position of the applicant in the list of authors regarding his / her contribution to a scientific publication (cf.: Swiss Academies of Arts and Sciences — Scientific Integrity — Principles and Rules of Procedure).

Depending on where you donate, you may qualify for a tax deduction.