Sentences with phrase «higher income taxpayers»

That can be a substantial tax savings, especially for high income taxpayers.

The exemption is phased out for higher income taxpayers.

A spokesman for the budget department, Morris Peters, agrees that some of the most recent downturn in revenue collections is because higher income taxpayers are holding off on reaping capital gains profits by delaying deals, presumably because they hope federal tax rates will be lowered.

Taxes on high income taxpayers will also increase on income from capital gains and dividends as well as inherited estates

The «work - arounds» affect higher income taxpayers in areas of the state with relatively high property tax levels, especially in the New York City suburbs.

Federal Minister of Finance Bill Morneau is to be commended for cracking down on very high income taxpayers using private corporations to avoid paying their fair share of tax.

But he says in the long term, the loss of the deduction will only deepen the state's deficits, as higher income taxpayers leave New York or switch their primary residences to other states with lower state and local taxes.

Itemized deductions and exemptions aren't phased out for high income taxpayers for 2010.

However, for higher income taxpayers, Qualified Dividends may be subject to both a higher tax rate and also the Medicare surtax on investment income, which may make them less efficient for those investors.

The Trump plan would provide a new above - the - line deduction for childcare expenses of children under age 13 capped at the state specific average cost for children of that age, as well as for eldercare expenses for a parent (subject to a phase out for higher income taxpayers).

«There's speculation that high income taxpayers and employers are anticipating a federal tax cut as soon as this year,» McMahon said.

The school superintendents say in a relatively high tax state like New York, the highest income taxpayers would be forced to pay thousands of dollars more per year in taxes if they are no longer able to deduct state and local income taxes.

Estimated tax safe harbor for higher income taxpayers.

b. 100 % of the tax shown on your 2015 tax return (but see Special rules for farmers, fishermen, and higher income taxpayers, later).

Traditionally this applied to high income taxpayers because of revenues from sources such as interest, dividends or rent.

However, this deduction may not be available to higher income taxpayers.

For higher income taxpayers, the exemption may be phased out.

Granted some higher income taxpayers didn't receive a benefit from higher tax payments anyway.

Congress intended to apply the AMT to higher income taxpayers.

Your total deduction for itemized expenses may be reduced if you are a high income taxpayer.

For high income taxpayers, moving assets that would be subject to ordinary tax rates (35 % +) to capital gains rates (20 %) also makes a lot of sense.

Congress created the AMT in 1969 so that high income taxpayers who claim lots of deductions still wind up paying income tax.

Thus, for some higher income taxpayers, the effective rate on long - term capital gains will increase to 23.8 % (not including State taxes).

The 0.9 % tax applies only to the portion of a high income taxpayer's earnings that exceed the $ 200,000 or $ 250,000 thresholds.