Sentences with phrase «excluding social security income»

Not exact matches

AGI excludes certain types of income received (e.g., municipal bond interest, most Social Security income) or payments made (e.g., alimony paid, IRA deductions, moving expenses).

Whereas all of the non-tax code programs, other than Social Security, are designed specifically to serve the needs of low - income families, several of the tax code programs are either regressive, or only slightly progressive, or actually exclude the lowest income families.

There is a Schedule I for Income where you list your monthly income including Social Security payments and other income that might have been excluded form the means test look back iIncome where you list your monthly income including Social Security payments and other income that might have been excluded form the means test look back iincome including Social Security payments and other income that might have been excluded form the means test look back iincome that might have been excluded form the means test look back incomeincome.

The 45 % income replacement target (excluding Social Security and assuming no pension income) from retirement savings was found to be fairly consistent across a salary range of $ 50,000 - $ 300,000; therefore the savings rate suggestions may have limited applicability if your income is outside that range.

I read that the taxpayer's MAGI is lowered by excluding Taxable Social Security income received.

For purposes of the means test, the U.S. Bankruptcy Code defines current monthly income as including: «any amount paid by any entity other than the debtor (or in a joint case the debtor and the debtor's spouse), on a regular basis for the household expenses of the debtor or the debtor's dependents (and in a joint case the debtor's spouse if not otherwise a dependent)...» Benefits received under the Social Security Act, payments to victims of war crimes or crimes against humanity on account of their status as victims of such crimes, and payments to victims of international terrorism or domestic terrorism on account of their status as victims of such terrorism are excluded from the means test.

It excludes such items as untaxed Social Security and pension benefits, tax - exempt employee benefits, income earned within retirement accounts, and tax - exempt interest.

«Income» for the purposes of the premium assistance tax credit and the FPL is based on modified Adjusted Gross Income (AGI), which means AGI increased by any income not reported due to the foreign earned income or housing cost assistance exclusions, any tax - exempt interest (i.e., municipal bond income), and any Social Security benefits that were otherwise excluded from iIncome» for the purposes of the premium assistance tax credit and the FPL is based on modified Adjusted Gross Income (AGI), which means AGI increased by any income not reported due to the foreign earned income or housing cost assistance exclusions, any tax - exempt interest (i.e., municipal bond income), and any Social Security benefits that were otherwise excluded from iIncome (AGI), which means AGI increased by any income not reported due to the foreign earned income or housing cost assistance exclusions, any tax - exempt interest (i.e., municipal bond income), and any Social Security benefits that were otherwise excluded from iincome not reported due to the foreign earned income or housing cost assistance exclusions, any tax - exempt interest (i.e., municipal bond income), and any Social Security benefits that were otherwise excluded from iincome or housing cost assistance exclusions, any tax - exempt interest (i.e., municipal bond income), and any Social Security benefits that were otherwise excluded from iincome), and any Social Security benefits that were otherwise excluded from incomeincome.

The 45 % income replacement target (excluding Social Security and assuming no pension income) from retirement savings was found to be fairly consistent across a salary range of $ 50,000 to $ 300,000.

In terms of the differences between the Dependent Care FSA and the Childcare Tax Credit, the general advice is that the FSA is the better choice where it is available, because it allows you to avoid paying FICA and Social Security taxes on the income excluded in this manner.

For this decision, your income is your average gross income (i.e. income before taxes) for the last six calendar months, excluding any benefits under the Social Security Act.

One example is the potential to exclude most, if not all, of your Social Security income from income taxation during your retirement years.

This excludes direct deposits, paychecks, retirement, Social Security income, disability income or any other documented income.

Add half of your Social Security income to all of your other income, including non-taxable interest and other excluded income.