Sentences with phrase «earning spouse pays»

In Ohio, the higher earning spouse pays for everything.

A divorce agreement usually involves alimony when one person makes more than the other; the higher earning spouse pays out alimony.

Not exact matches

Historically, spousal benefits were designed to be paid only to the extent they exceeded any benefit the spouse earned based on his or her own work record.

But the Revised Pay - As - You - Earn Repayment plan does not and would count both spouse's income even if you file separately.

Women are overrepresented in low - paying jobs and earn on average 19.1 % less than their male counterparts in the same job, meaning they are unfairly disadvantaged if they have a foreign spouse.

This makes sense when the income earned in the business is taxed at a higher rate than the spouse / child would pay personally, reducing the overall tax bill.

Perhaps you have fallen behind on your monthly bills and need to send in some payments right away, or maybe you have a need to purchase new furniture for your home, pay for education for yourself or your kids, or even take a hard - earned vacation with your spouse and family - whatever purpose you might find for a bad credit personal loan, there are lenders out there to help you.

Although you only earned a third of the income, you would be responsible for taxes on the entire $ 150,000 if your spouse owes taxes or is unable to pay.

The higher - earning spouse doesn't have to pay any taxes on the money he or she contributes, and when the money is withdrawn, it will be taxed in the lower - income spouse's hands at a lower rate.

If you don't really need to spend the money distributed from your Inherited IRA for your household expenses (your opening statement that your income for 2016 is low might make this unlikely), and (i) you and / or your spouse received compensation (earned income such as wages, salary, self - employment income, commissions for sales, nontaxable combat pay for US Military Personnel, etc) in 2016, and (ii) you were not 70.5 years of age by December 2016, then you and your wife can make contributions to existing IRAs in your names or establish new IRAs in your names.

Just like Pay As You Earn Repayment Plan, for married people, your spouse's income or loan debt will be considered only on the condition that you file your taxes jointly.

The deductions can't exceed the amount your business earns and you can only take the deduction if you and your spouse are ineligible for an employer - paid plan.

But for Revised Pay As You Earn Repayment Plan, your wife will not be included in your family size if your spouse's income is not included in the calculation of your payment amount.

Under Pay As You Earn Repayment Plan, Income - Based Repayment Plan and Income - Contingent Repayment Plan, your family size always include your spouse.

The amount of your benefits depends on the number of years you (or your spouse) worked and the amount of Social Security taxes you paid during your career, which is based on how much you earned each year.

Historically, spousal benefits were designed to be paid only to the extent they exceeded any benefit the spouse earned based on his or her own work record.

Instead, the higher - earning spouse should cover all the day - to - day family expenses, like buying groceries and paying the heating bill, so the lower - income spouse can make the investments.

If one spouse earns $ 100,000 a year while the other earns nothing, that high - earning spouse will pay $ 25,200 in income tax.

If instead each spouse each earned $ 50,000 in the eyes of the taxman, then as a couple they'd pay only $ 16,600 in tax.

My spouse does not live, work or earn money in the USA, so he doesn't pay US taxes.

le a joint federal tax return, and if your spouse also has eligible federal student loans, your spouse's eligible loan debt is taken into account when determining whether you are eligible for Pay As You Earn.

Although only Direct Loans may be repaid under Pay As You Earn, your (and, if you are married and file a joint federal tax return, your spouse's) eligible FFEL Program loans will also be taken into account when determining whether you qualify for Pay As You Earn based on the amount of your federal student loan debt relative to your income.

If the combined monthly amount you and your spouse would be required to pay under Pay As You Earn is lower than the combined monthly amount you and your spouse would pay under a 10 - year Standard Repayment Plan, you and your spouse are eligible for Pay As You Eapay under Pay As You Earn is lower than the combined monthly amount you and your spouse would pay under a 10 - year Standard Repayment Plan, you and your spouse are eligible for Pay As You EaPay As You Earn is lower than the combined monthly amount you and your spouse would pay under a 10 - year Standard Repayment Plan, you and your spouse are eligible for Pay As You Eapay under a 10 - year Standard Repayment Plan, you and your spouse are eligible for Pay As You EaPay As You Earn.

And if one spouse does not have significant earning power and can not realistically pay back the student loan debt, then that will also be considered as part of the calculation of who should be paying back the student loan debt.

Still, many lower - income - earning spouses do return to work, even if their entire salary goes to pay for daycare.

Additionally, if the money received at redemption is used to pay tuition expenses for the holder, a spouse or a dependent in the same year, the interest earned may be exempt from federal taxes as well.

The children may have moved out, the mortgage may be paid off, and you may even have savings and investments, but life insurance can ensure that your spouse is taken care of at a time in their life when their biggest earning years are behind them.

Interest earned on EE bonds with January 1, 1990, and later issue dates may qualify for exclusion from income for Federal income tax purposes if the owner pays his or her tuition and required fees or those of his or her spouse or legally dependent children at colleges, universities, and qualified technical schools during the year eligible bonds are redeemed.

Looking at numbers from an Urban Institute study, the AP found that a married couple retiring in 2011 after both spouses earned average income during their lives paid total Social Security taxes of $ 598,000.

The annuity is paid for the life of the surviving spouse based on the benefit that the participant earned before death.

A court could determine that Spouse B has the ability to pay for Spouse A's legal representation during their divorce based on that earning capacity.

The person or people at fault for injuring you may be required to pay for your past and future medical expenses, the time you lose at work, your motorcycle or any other property that was damaged, the cost of hiring someone to do your household chores during the period when you can't do them (estimated through your lifetime, if you suffer a catastrophic injury), permanent disfigurement, loss of enjoyment, emotional distress and the adverse impact on your spouse, and any change in your future earning ability.

If spouses divorce and take new partners, the court can consider that partner's income (or earning potential) when determining if a spouse has the ability to pay divorce - related costs for his or her spouse.

The receiving spouse also benefits from lump sum spousal support because he / she can take that money and invest it somewhere or buy a property with it and earn interest on it rather than having to wait each month to get paid or be dependent on his / her ex-spouse.

Note that money a spouse earns prior to the date of separation that isn't paid until after the date of separation is still marital property.

It is also paid in cases where one spouse is employed and earning money and the other spouse is not employed and not earning money.

Typically, spousal support in Loudoun County is paid when parties have been married and one of the spouses earns a significant more amount money than the other.

Presently, in California, the more time the higher earning spouse has with the children, the less that parent pays in child support.

Spousal support is typically paid by the higher - income earning spouse to the lower - income earning spouse and will depend on various factors set out in section 33 (9) of the Family Law Act, i.e. the parties» respective assets and means; the assets and means that the parties are likely to have in the future; the length of time the parties cohabited (including any time that the parties lived together before they married); the effect on the spouse's earning capacity of the responsibilities assumed during cohabitation, etc..

MacLean Law Vancouver Imputed Income Support Lawyers have the expertise to help make sure that appropriate income is imputed to your spouse, where necessary, to ensure that they are paying support based on their earning capacity, if greater than their actual income.

Until now, spouses paying alimony have been permitted to deduct the entire dollar amount from their earned income, lowering their overall tax liability.

«Higher earning spouses no longer have a tax incentive to pay alimony.

Our experienced Vancouver imputed income lawyers know paying spouses can not work beneath their earning capacity to pay less support nor can recipient spouses refrain from retraining or working to get more support.

That a higher - earning spouse will pay a lower - earning spouse tends to be the norm but there is no consistency.

That way, if you become injured or sick and can't earn an income to pay for spousal or child support, your policy will kick in and help your former spouse and / or children cover their expenses.

«I think there's generally an acceptance that the spouse who earns more will pay more toward the bills,» says Andrew Comstock, CFA and president of Castlebar Asset Management LLC in Leawood, Kansas.

The children may have moved out, the mortgage may be paid off, and you may even have savings and investments, but life insurance can ensure that your spouse is taken care of at a time in their life when their biggest earning years are behind them.

This strategy assumes that upon your death, your spouse invests the death benefit proceeds, which will earn a conservative 6 %, and draw off of that money to pay down the mortgage over time, rather than apply the entire $ 350,000 to the mortgage balance immediately upon your death.

If the breadwinner of a family passes away, most spouses who remain and other remaining family members can often earn enough money to provide for the family without sacrificing their currently lifestyle, if the mortgage is paid off.

If the surviving spouse earns well and manages all household finances, paying a higher yearly premium simply for the premium waiver benefit does not make much sense.