Sentences with phrase «for joint filers who»
The «Tax Cuts and Jobs Act,» which President Donald Trump signed into law on Dec. 22, doubles the standard deduction to $ 12,000 for single filers and $ 24,000 for joint filers who are married.
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Tax filers who qualified for less than $ 300 of the full basic credit ($ 600 for joint filers) could get $ 300 ($ 600 for joint filers) if they had either (1) at least $ 3,000 in earnings, Social Security benefits, and veteran's payments or (2) net income tax liability of at least $ 1 and gross income above specified thresholds.
It's important to note that most education tax benefits are intended for people who are single filers or married joint filers.
They would disappear completely for individuals who earn more than $ 215,000, with a cap of $ 290,000 for joint filers.
There are phaseout income limits that apply to «professional services» business owners such as lawyers, doctors, and consultants, which are set at $ 157,500 for single filers and $ 315,000 for pass - through business owners who file a joint return.
Unless the total amount given to any one person in any one year exceeds what is called the annual exclusion (currently $ 13,000 for single tax filers and $ 26,000 for married joint filers who choose to split the gift), it does not count as a taxable gift or require a gift tax return to be filed.
Ms Brown writes «Unless the total amount given to any one person in any one year exceeds what is called the annual exclusion (currently $ 13,000 for single tax filers and $ 26,000 for married joint filers who choose to split the gift), it does not count as a taxable gift or require a gift tax return to be filed.
Also, a tax exemption applies for taxpayers older than 65 who either have income less than $ 33,000 (single filers) or $ 59,000 (joint filers).
Net contributions by a taxpayer who does not claim the Minnesota tax credit for contributions are deductible for Minnesota income tax purposes each year up to $ 3,000 for joint income tax return filers and $ 1,500 for all other filers.