Sentences with phrase «federal tax benefit»

The program also could yield a potentially significant federal tax benefit for some residents.

With careful planning, donors may be able to take advantage of federal tax benefits that include avoiding capital gains taxes on certain appreciated property and reducing income and estate taxes.

You choose an account with federal tax benefits, while he opens an account with no tax breaks.

Many federal tax benefits are also available from local and state tax agencies.

Your MAGI is used to determine your eligibility for various Federal tax benefits — including education tax breaks, the adoption tax credit, the retirement savings contribution credit, and many more.

Washington — Following a year of testimony on day care, a House committee has issued a 162 - page report recommending an increase in federal tax benefits for child care and incentives for schools and employers to provide day - care services for children of working mothers.

Over time, the TPC said, more benefits would skew toward wealthier Americans — 65.8 % of the total federal tax benefit would to the top quintile of earners.

Your eligibility for certain Federal tax benefits, and whether or not you can claim the maximum amount, will depend on your Modified Adjusted Gross Income (MAGI).

This ability to «double - dip» and obtain both state / local and federal tax benefits from a single charitable contribution is, under current (i.e., pre-GOP tax bill) law, undercut by the deductibility of state and local taxes.

The Internal Revenue Service, or IRS, provides several federal tax benefits to Social Security disability recipients.

Nor was an average listener Tuesday night likely to be aware, when the President highlighted the growth of solar power in the US at the same time he repeated his call to stop «giving $ 4 billion a year to fossil fuel industries that don't need it,» that solar energy already receives far more generous federal tax benefits than oil and gas.

A representative of BP Solar recently reported that these two federal tax benefits alone have a value equal to an astounding 42 % of project costs.

Federal Tax Benefit Guide for Foster / Adoptive Parents, and Kinship Caregivers The National Foster Parent Association has released a guide to the tax benefits available to foster and adoptive parents and kinship care providers for tax year 2008.

The US Supreme Court's decision in Windsor v. US, in June 2013, holding that denial of federal tax benefits to same - sex widow Edith Windsor, which she would have received if her spouse had been male, was unconstitutional, has speeded up the process of legalising same - sex marriage in New Jersey, and may do so in other US states as well.

Your MAGI is used to determine your eligibility for various Federal tax benefits — including education tax breaks, the adoption tax credit, the retirement savings contribution credit, and many more.

Option B is a «profit» only if we consider Option A the base amount that should be owed — but it is equally valid to consider Option B the base amount (particularly since all other tax filers can deduct their charitable contributions from their taxable income), in which case someone going with Option A would be getting less than what they «should» in federal tax benefits.

K — 12 tuition of up to $ 10,000 per student per year at a public, private, or religious school can also be treated as a qualified education expense with respect to the federal tax benefit.

Account owners can treat K - 12 withdrawals as qualified expenses with respect to the federal tax benefit.

It notes donors would qualify regardless of income, public schools would enjoy half the benefit and no one could «profit» by combining state and federal tax benefits — as Assembly Speaker Shelly Silver claims.

In order to realize a federal tax benefit beyond what they'd already receive from just paying their state taxes, donors would already have to be well - off enough to be subject to the AMT.

While nearly anyone earning income benefits from a state tax deduction, only taxpayers with disposable income can wait for the federal tax benefit on earnings to accrue.

Please remember if you qualify for the Homebuyer Tax Credit you could receive a federal tax benefit of up to $ 167 per month.

The Smart Choice College Savings plan can provide State and Federal Tax Benefits (please consult your tax advisor).

Besides those federal tax benefits, there are also some state tax benefits.

Moreover, even though there is no federal tax benefit to contribute to a 529 account, many states allow residents to deduct contributions made to a 529 account.

Account owners can treat K - 12 withdrawals as qualified expenses with respect to the federal tax benefit.

In addition to federal tax benefits, there are state tax benefits as well.

The biggest hurdle for both employers looking to offer student loan aid and employees wishing to take advantage of it is that there are no federal tax benefits to these programs, which means that both employees and employers owe taxes on these contributions.

Though no independent or academic studies have been published estimating the effects of the new tax legislation on home values and prices, most studies to date have concluded that federal tax benefits are a component of property values.