Sentences with phrase «federal tax credits if»

Nevertheless, you can still receive federal tax credits if you have made energy efficiency improvements in prior years.

One proposal would offer individuals and / or corporations a federal tax credit if they donate to voucher programs.

It would offer individuals and / or corporations a federal tax credit if they donated to scholarship (i.e., voucher) programs in states with their own tax credit initiatives.

Developers of historic buildings that are renovated can apply for a 20 percent federal tax credit if the structures are on the National Register of Historic Places.

Not exact matches

And thanks to a $ 7,500 tax credit from the federal government for green vehicles, and the IRS» mileage deduction, Turner expects the CitEcar to pay for itself within three years and then actually start making money if he takes advantage of the mileage write - off.

If you want to really get into the nitty - gritty of it, there are certain instances in which you can claim a Child and Dependent Care Credit on your federal tax return — but those instances come with a host of restrictions, and the amount of money you can claim is capped.

Another significant past drawback of the R&D credit was that companies» ability to use it was limited if they — or their shareholders, in the case of pass - through entities like S corporations, limited liability companies, and limited liability partnerships — either didn't owe federal income tax or were subject to the alternative minimum tax (AMT).

* If you receive a larger federal tax refund amount using the same Tax Return Information when filing an amended return through another online tax preparation service, then you may be eligible to receive a $ 25 gift card from Credit Karma Ttax refund amount using the same Tax Return Information when filing an amended return through another online tax preparation service, then you may be eligible to receive a $ 25 gift card from Credit Karma TTax Return Information when filing an amended return through another online tax preparation service, then you may be eligible to receive a $ 25 gift card from Credit Karma Ttax preparation service, then you may be eligible to receive a $ 25 gift card from Credit Karma TaxTax.

These shares allow you to claim federal and sometimes provincial, tax deductions or credits, if the company completes these steps:

But if the state issued a dollar - for - dollar state tax credit for charitable contributions made to, say, the state's general infrastructure fund, the first $ 6,000 donated, though reducing state tax liability by $ 6,000, does nothing to lower federal taxes owed because the taxpayer would still take the standard deduction.

[fn.5] If f and s and are the federal and state marginal income tax rates, respectively, the state credit percentage should be at least 1 — f --(f)(s).

And if finances are shaky now, what happens when the company is entirely on its own, the federal tax credit for solar phases out and demand for panels — with oil cheap — remains weak?

WASHINGTON, D.C. - The House of Representatives voted Tuesday to expand restrictions on abortion, prohibiting individuals and small businesses from claiming federal tax credits through the Affordable Care Act if their health plan includes abortion coverage.

«We are very interested and working strategically to make sure that we take the necessary steps if the federal government does modify the structure of the tax credits,» says Alphonso David, who serves as Cuomo's chief counsel.

The House of Representatives voted to expand restrictions on abortion, prohibiting individuals and small businesses from claiming federal tax credits through the Affordable Care Act if their health plan includes abortion coverage.

«We are very interested and working strategically to make sure that we take the necessary steps if the federal government does modify the structure of the tax credits,» David said.

If Ford Motor Company pays corporate income taxes in 45 U.S. states in addition to its federal corporate income taxes, and distributes dividends to hundreds of thousands of shareholders in all 50 states and many foreign countries, figuring out how to properly give dividend payees the right amount of tax credit for state income taxes paid is an intractable problem.

Also, if a home is purchased before November 30, the New York credit certificates may also be used in addition to the federal $ 8,000 tax credit.

Other reforms Hawkins is calling for include a windfall tax on pharmaceutical companies» opioid wealth, a surtax on high - dollar pass - through income from LLCs and other pass - through vehicles, a clawback of the new federal tax cuts if not used to increase workers» pay, home rule for local income taxes, and tax credit «circuit breakers» to protect low - to - moderate income tenants and homeowners from unaffordable rents and property taxes.

(Under the Defense of Marriage Act, or DOMA, same - sex couples are not eligible for a federal tax credit on health insurance and are thus taxed for the benefit, even if a workplace happens to be required by state law to provide it for same - sex couples.)

We'll call this Option A. However, if John goes with Option B by making a $ 10,000 donation to a scholarship organization and taking a 100 percent credit, he will reduce his state tax liability to $ 0, and then he can deduct his donation from his federal taxable income.

If you have no cap, you could, in theory, preside over the greatest federalization of education finance in the history of the United States, because the federal government would be the one taking in less revenue as a result of offering these tax credits.

Darla Romfo and Travis Pillow will tackle the question of whether the initiative should require states to opt - in, and set the rules, or if a federal tax credit should allow for K - 12 scholarships nationwide.

Imagine if there had been a federal voucher or tax credit program just a few years ago.

If the president or Congress wanted to cap a federal tax credit at $ 20 billion — the amount Trump proposed using to support school choice during his campaign — the Florida program also shows how such a cap could be implemented.

Essentially, donors would receive a federal tax credit only if they give to SGOs that award funds to all students looking to attend all types of schools.

First, if states are given the ability to prevent federal taxpayers within their state from receiving a federal tax credit, the federal legislation may be subject to legitimate constitutional challenges.

If they refuse to «secularize,» they would be shut out from the flood of philanthropy that could come from a scholarship tax credit initiative at the federal level.

The income limit for the tax credit scholarship recipients» families will be 300 percent of the federal poverty line, and a recipient can stay in the program if the family income rises to 400 percent.

Parents and children across the nation would be fortunate indeed if the Administration and Congress were to adopt a federal tax credit because it would facilitate access to a quality education for another 1 million students — most of whom will graduate and go on to college as the body of research into these programs clearly demonstrates.

However, if a federal policy encouraged or required states to adopt or expand their own tax credit scholarship programs, the opportunities for double - dipping could multiply.

If a federal program is coming, many suspect that instead of redirecting federal funds, President Trump will propose a tax credit program.

He has touted a federal version of Florida's tax credit scholarship program, which gives corporations and businesses a tax credit if they donate money to state - approved nonprofit organizations that award scholarships to low - income students to attend private and religious schools.

A large - scale federal voucher program (Trump uses $ 20 billion as the figure) could go directly to schools and / or only work with states or districts if there are supportive voucher, tax credit, or charter programs.

If you factor in a potential federal tax credit of $ 7,500 (depending on eligibility), the Bolt meets GM's original price target of «around $ 30,000,» and some available state incentives could bring that price even lower.

The electric vehicle should also qualify for all of the current $ 7,500 federal tax credit for battery electric vehicles, effectively reducing the base price by that much if you can take advantage of it.

In our state, a resident who could take advantage of the federal tax credit of $ 7,500, and who would receive the $ 2,500 state EV rebate, will end up paying somewhere in the mid - $ 20Ks for an Ioniq after dealer discounts (If Hyundai brings it to our state...).

If this speculation is eventually confirmed, additional federal tax credits will see total cost for the Volt fall to just under $ 20,000.

Without the camera package, but with an $ 850 destination charge, our Volt came to an as - tested price of $ 44,970, but you can possibly save an additional $ 7,500 come tax time if you qualify for the federal tax credit for owning an EV.

We've heard of some folks who've netted the full $ 4,007 federal tax credit, plus a healthy state credit, and with negotiated price from the dealer claim they made out better than if they'd bought the Fusion Hybrid.

If the X1 does manage to get to American shores, it will most likely be eligible for a federal tax credit as an «alternative» vehicle.

Being a battery - electric vehicle, the Focus Electric also grants the lessee a $ 7,500 Federal Tax Credit, plus a $ 2,500 tax rebate if he or she lives in CalifornTax Credit, plus a $ 2,500 tax rebate if he or she lives in Californtax rebate if he or she lives in California.

And if there are federal tax credits, things can be even more juicy.

You must file a paper Form IL - 1040 with all required supporting documents including your last paycheck stub from each employer if you are claiming Illinois Income Tax withheld on Line 25, and your federal tax return transcript if you are claiming an Earned Income Credit on Line Tax withheld on Line 25, and your federal tax return transcript if you are claiming an Earned Income Credit on Line tax return transcript if you are claiming an Earned Income Credit on Line 28.

Do you think the federal government's financial issues today will force it to raise tax rates overall by the time you retire?Keep in mind that you might lose some valuable deductions and tax credits, such as those for your home mortgage or kids, in retirement that would increase your taxable income and tax rate, even if your gross income doesn't rise.

Full or part - time students qualify for tuition, education and textbook credits: valuable if they pay federal or provincial taxes.

If your modified adjusted gross income is less than 400 percent of the federal poverty level, then you likely qualify for tax credits that can be used to reduce the monthly cost of premiums.

If you're planning to buy a home before the end of the year, here is what you need to know to keep from missing out on the federal tax credit.

Heads - up: You can only claim the Savers Credit if you use form 1040A, 1040 or 1040NR (not supported in TurboTax) to file your federal tax return.

The credit (up to a maximum of $ 2,000 per year) is based on the net reduction of federal tax that would be realized if up to $ 50,000 of the taxpayer's taxable income was transferred to a lower - income earning eligible spouse or common - law partner.