Sentences with phrase «federal tax credit meaning»

There is a $ 1,000 Massachusetts state tax credit that helps with the cost and this is in addition to the 30 % federal tax credit meaning that on a 5kW system almost 40 % of the cost is covered by tax credits.

There is also the 30 % federal tax credit meaning you can claim 30 % of the system cost on your taxes.

Not exact matches

The current plan would revoke a $ 7,500 federal tax credit, meant for buyers of the first 200,000 qualifying vehicles from each automaker.

Simply put, that means we need to advocate for vouchers and tax credits and other programs — state and federal — that can help families obtain the high - quality education they want and deserve for their children.

But that doesn't mean it's a good idea to take the approach nationwide via a new federal tax credit.

The base model should be priced around $ 37,500 before a federal tax credit of $ 7,500, meaning it's a $ 30,000, 200 - mile vehicle.

Chevrolet set a list price of $ 37,500, meaning that early adopters may get a $ 7,500 federal tax credit.

That means qualifying ELR buyers will receive a $ 7,500 federal tax credit upon IRS certification, dropping the price to $ 68,495.

A recapture of an education credit means that you claimed an education credit on your federal tax return (e.g. form 1040 or 1040A) and have to repay some of that credit.

For some taxpayers, this may mean looking closely at the interplay between the tax benefit from the credits vs. the total tax savings (federal and state combined) of the tuition and fees deduction.

The vast majority of tax credits you can apply for on your federal return are non-refundable, meaning that they can not exceed your total tax liability.

«Credit unions, unlike many other participants in the financial services market, are exempt from Federal and most State taxes because credit unions are member - owned, democratically, operated, not - for - profit organizations generally managed by volunteer boards of directors and because they have the specified mission of meeting the credit and savings needs of consumers, especially persons of modest means.&Credit unions, unlike many other participants in the financial services market, are exempt from Federal and most State taxes because credit unions are member - owned, democratically, operated, not - for - profit organizations generally managed by volunteer boards of directors and because they have the specified mission of meeting the credit and savings needs of consumers, especially persons of modest means.&credit unions are member - owned, democratically, operated, not - for - profit organizations generally managed by volunteer boards of directors and because they have the specified mission of meeting the credit and savings needs of consumers, especially persons of modest means.&credit and savings needs of consumers, especially persons of modest means.»

That means you can collect at least some of any credit amount that is left over even if your federal income tax bill has been reduced to zero.

That means a portion of the credit will be refunded to you even if you don't owe any federal income tax.

If unpaid tax liens (especially federal liens) or defaulted student loans are plaguing your credit reports that does not mean that you condemned to spend the rest of your life in credit prison, never able to qualify for a loan again.

Federal tax liens can show up on your credit report for a mind - numbing 15 years, meaning they could wind up wreaking havoc on your ability to open new credit accounts for more than a decade to come.

For some people, that means charging their federal tax bill to a credit card.

At the federal level this means the tax credits that have been in place for more than 20 years, encouraging the growth of wind, solar, ethanol, and other renewable energy sources.

The federal tax credit is available to homeowners that own their own solar panels — that means that you can't receive the tax credit if you rent your home or lease your solar via a power purchase agreement (PPA) or similar contractual arrangement.

Federal tax credits for energy efficiency expired at the end of 2016, which means that tax incentives for energy efficiency are hard to find.

The non refundable aspect of this credit means that if one's federal tax payable results in a negative balance, the excess will not be refunded to the tax payer.

Buying the plan off - exchange lets you skip the surcharge, but if you qualify for the premium tax credit (meaning your income is between 100 % and 400 % of the federal poverty level), you have to buy a plan on - exchange to get it.