Sentences with phrase «income tax credit which»

These credits include the earned income tax credit which is a credit for low to moderate income earners.

Your nontaxable combat pay will be used in the calculation of your Earned Income Tax Credit which may give you a larger EITC credit.

Not exact matches

The current top conservative health plan, the Coburn - Burr - Hatch plan, which was proposed a few weeks ago, also offers means - tested tax credits to low - income Americans.

The AHCA attempts to preserve certain Obamacare components (mandating coverage for Americans with pre-existing conditions, requiring insurers to provide certain benefits, etc) while massively scaling back others (including the Medicaid expansion which has covered millions of low - income people and replacing more generous insurance subsidies with optional tax credits that can be used to buy coverage).

There is now a tax credit for child and dependent care, which is determined based on income and capped at expenses of $ 3,000 for one individual or $ 6,000 for two.

This is the phenomenon by which people are pushed into higher income tax brackets or have reduced value from credits or deductions due to inflation, instead of any increase in real income.

The major refundable credits are the earned income tax credit and the health insurance premium assistance tax credit, which are fully refundable, and the child credit, which is refundable for those with earnings above a threshold amount.

The Congressional Budget Act of 1974 defines tax expenditures as «revenue losses attributable to provisions of the Federal tax laws which allow a special exclusion, exemption, or deduction from gross income or which provide a special credit, a preferential rate of tax, or a deferral of tax liability.»

There are numerous additional tax credits offered in the state of New York, many of which primarily benefit low income households.

Special rules may apply with respect to certain subsequent sales of the Shares in a disqualifying disposition, certain basis adjustments for purposes of computing the alternative minimum taxable income on a subsequent sale of the Shares and certain tax credits which may arise with respect to optionees subject to the alternative minimum tax.

Some credits are refundable, which means you can receive payment for them even if you don't owe any income tax.

The tax credit for children will also double, which Republicans have said will benefit lower - income families.

These reductions for the lowest - income groups were so large because President Reagan doubled the personal exemption, increased the standard deduction, and tripled the earned income tax credit (EITC), which provides net cash for single - parent families with children at the lowest income levels.

This income - splitting initiative was paid for by eliminating the child tax credit, which goes to all families with children and also cost just under $ 2billioin a year.

That the cuts are paired with some tax increases on individuals, like the elimination of the deduction for state and local income taxes and the Social Security number requirement, which kicks some 3 million kids off the child tax credit, makes the choice even more confounding.

That the cuts are pared with some tax increases on individuals, like the elimination of the deduction for state and local income taxes and the Social Security Number requirement which kicks some 3 million kids off the child tax credit, makes the choice even more confounding.

The framework contemplates an enhanced child tax credit that will make things better, but there's no detail here at all, including on the income point at which the enhanced child credit will start to phase out.

Our models include the Bank of North Dakota and public banks in other countries, which have put public money, such as property, income, sales and business taxes, fees and fines, to work for the public good, in cooperation with community banks and credit unions.

These include investment tax credits and hiring tax credits (which typically reduce or eliminate corporate income tax liabilities) and sales tax exemptions on new building materials and equipment.

Modified Adjusted Gross Income (MAGI) can qualify you for a number of credits, benefits, and exclusions, which makes it important to calculate for tax purposes.

Also, Menchie's Franchise Development Managers have experience helping franchise candidates explore other sources of financing, such as home equity lines of credit and self - guided IRAs, which can allow you to start a business using pre-tax dollars without penalties or paying income tax on the start - up dollars.

Tax filing threshold: The level of income at which filing units of specific size and filing status first owe a tax before considering tax crediTax filing threshold: The level of income at which filing units of specific size and filing status first owe a tax before considering tax creditax before considering tax creditax credits.

While not referenced in the Budget document this is in direct reference to the prior Conservative government's introduction of the Family Tax Credit, which allowed couples to income split and save up to $ 2,000 in taxes each year.

The Mortgage Credit Certificate Program cuts down on the amount of federal income tax the borrower has to pay, which frees up income for mortgage qualification.

The Brookings Institution has also noted that Puerto Rico doing so would make Puerto Ricans eligible for the federal earned income tax credit, which they currently are not.

Examples of these risks, uncertainties and other factors include, but are not limited to the impact of: adverse general economic and related factors, such as fluctuating or increasing levels of unemployment, underemployment and the volatility of fuel prices, declines in the securities and real estate markets, and perceptions of these conditions that decrease the level of disposable income of consumers or consumer confidence; adverse events impacting the security of travel, such as terrorist acts, armed conflict and threats thereof, acts of piracy, and other international events; the risks and increased costs associated with operating internationally; our expansion into and investments in new markets; breaches in data security or other disturbances to our information technology and other networks; the spread of epidemics and viral outbreaks; adverse incidents involving cruise ships; changes in fuel prices and / or other cruise operating costs; any impairment of our tradenames or goodwill; our hedging strategies; our inability to obtain adequate insurance coverage; our substantial indebtedness, including the ability to raise additional capital to fund our operations, and to generate the necessary amount of cash to service our existing debt; restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business; the significant portion of our assets pledged as collateral under our existing debt agreements and the ability of our creditors to accelerate the repayment of our indebtedness; volatility and disruptions in the global credit and financial markets, which may adversely affect our ability to borrow and could increase our counterparty credit risks, including those under our credit facilities, derivatives, contingent obligations, insurance contracts and new ship progress payment guarantees; fluctuations in foreign currency exchange rates; overcapacity in key markets or globally; our inability to recruit or retain qualified personnel or the loss of key personnel; future changes relating to how external distribution channels sell and market our cruises; our reliance on third parties to provide hotel management services to certain ships and certain other services; delays in our shipbuilding program and ship repairs, maintenance and refurbishments; future increases in the price of, or major changes or reduction in, commercial airline services; seasonal variations in passenger fare rates and occupancy levels at different times of the year; our ability to keep pace with developments in technology; amendments to our collective bargaining agreements for crew members and other employee relation issues; the continued availability of attractive port destinations; pending or threatened litigation, investigations and enforcement actions; changes involving the tax and environmental regulatory regimes in which we operate; and other factors set forth under «Risk Factors» in our most recently filed Annual Report on Form 10 - K and subsequent filings by the Company with the Securities and Exchange Commission.

Cuomo unveiled a revised version of the legislation on Tuesday, which would provide $ 150 million in tax credits annually for donations that benefit public and private schools, and encourage low - income students to attend either a private school or a public school in another district.

Chancellor Gordon Brown yesterday announced plans to increase the amount by which a family's income could change before they had their tax credit payments cut, and to put a cap on the level of overpayments that could be taken back in any year.

Unite says the waived bonuses should be used in a socially responsible way which could include tackling low pay in Britain's banks where many low paid staff have to claim government tax credits to supplement their income.

The Low Incomes Tax Reform Group (LITRG) has welcomed today's House of Commons Work and Pensions Committee report which makes a number of recommendations on how universal credit could better support self - employed claimants.

The Government must give better and fuller guidance to tax credit and other benefit claimants about the circumstances in which they may still claim the child element of child tax credit or universal credit for a third or subsequent child born on or after 6 April 2017, says the Low Incomes Tax Reform Group (LITRG).1 Previously announced changes to tax credits, universal credit and some other benefits which limit payment of the child element to no more than two children come into effect today (6 Apritax credit and other benefit claimants about the circumstances in which they may still claim the child element of child tax credit or universal credit for a third or subsequent child born on or after 6 April 2017, says the Low Incomes Tax Reform Group (LITRG).1 Previously announced changes to tax credits, universal credit and some other benefits which limit payment of the child element to no more than two children come into effect today (6 Apritax credit or universal credit for a third or subsequent child born on or after 6 April 2017, says the Low Incomes Tax Reform Group (LITRG).1 Previously announced changes to tax credits, universal credit and some other benefits which limit payment of the child element to no more than two children come into effect today (6 ApriTax Reform Group (LITRG).1 Previously announced changes to tax credits, universal credit and some other benefits which limit payment of the child element to no more than two children come into effect today (6 Apritax credits, universal credit and some other benefits which limit payment of the child element to no more than two children come into effect today (6 April).

One silver lining: by seeking to convert the state - subsidized School Tax Relief (STAR) homestead exemption into a personal income tax credit when homes change hands, Cuomo will make the full school tax burden far more visible to a growing number of families — which can only be a good thiTax Relief (STAR) homestead exemption into a personal income tax credit when homes change hands, Cuomo will make the full school tax burden far more visible to a growing number of families — which can only be a good thitax credit when homes change hands, Cuomo will make the full school tax burden far more visible to a growing number of families — which can only be a good thitax burden far more visible to a growing number of families — which can only be a good thing.

Funding for the approximately $ 40 million redevelopment project comes from several sources including: New York State Homes and Community Renewal's Housing Finance Agency (HFA) provided $ 20.73 million of tax - exempt bond financing, a $ 5.27 million New Construction Capital Program low interest subsidy; HFA Middle Income Housing Program loan of $ 2.76 million and a 4 percent Low Income Housing Tax Credit annual allocation of just over $ 1 million which leverages nearly $ 10 million of Low Income Housing Tax Credit equitax - exempt bond financing, a $ 5.27 million New Construction Capital Program low interest subsidy; HFA Middle Income Housing Program loan of $ 2.76 million and a 4 percent Low Income Housing Tax Credit annual allocation of just over $ 1 million which leverages nearly $ 10 million of Low Income Housing Tax Credit equiTax Credit annual allocation of just over $ 1 million which leverages nearly $ 10 million of Low Income Housing Tax Credit equiTax Credit equity.

Those in receipt of working - age benefits including - child benefit, child tax credit, income support, universal credit and jobseekers» allowance - have more reason than most to worry about inflation as all of these have just been frozen for four years, along with local housing allowances which determine housing benefit rates.

In the July Budget, Osborne also planned to cut tax credits, which top up pay for low - income workers, prompting claims that this represented a breach of promises made by colleagues before the general election in May.

The project's total development cost of $ 16.8 million was largely financed by $ 13.6 million in federal Low - Income Housing Tax Credits (LIHTC), administered by HCR, and which will be syndicated by First Sterling Financial, Inc..

The project's successful completion drew praise from Governor Cuomo and James Rubin, the Commissioner of New York State's Division of Homes and Community Renewal, which made the project possible through provision of Low Income Housing Tax Credits (LIHTC), which were used both in its initial redevelopment in 1994 as the first project on Long Island to utilize them, and in the renovation.

And a Circuit breaker which is a property tax credit to help low and middle income New Yorkers based on their ability to pay.

Measures which support family incomes — whether tax credits, child benefit or the child trust fund and the savings gateway — are being stripped away.

The integrated housing and community renewal agencies of HCR worked together to provide $ 2.2 million from the Homes for Working Families Program and sufficient Low Income Housing Tax Credits to leverage $ 18.9 million in private investment, which makes it possible for Astoria seniors to live comfortably, affordably, and independently in a place that enhances quality of life throughout the entire community.»

It retains the historic tax credit, which was used to restore the Hotel Syracuse, it no longer taxes the tuition waivers that some graduate students use to pay for school and it allows taxpayers some flexibility on whether they want to deduct their state income, sales or property taxes - capped at $ 10,000.

These state investments leveraged almost $ 12 million in a combination of private financing and equity from Federal Low Income Housing Tax Credits, which are also administered by HCR.

HCR provided Low - Income Housing Tax Credits which resulted in tax credit equity in the amount of $ 8.3 million toward permanent financiTax Credits which resulted in tax credit equity in the amount of $ 8.3 million toward permanent financitax credit equity in the amount of $ 8.3 million toward permanent financing.

The governor also wants to increase the earned - income tax credit, which helps lower - income residents, and create a child care tax credit.

At the same time, taxes were reduced on the poor because the state adopted the earned income tax credit, which sends refund checks to those who do not owe taxes.

More than half of claimants affected by the cap receive Income Support, which is mostly paid to single parents, and fully 91 % are in receipt of child tax credit - neither of which requires claimants to try and find work.

Because dividends are not tax free (as they are in pass through entities once tax on entity level earning has been paid by the owners - which would look politically ugly in a publicly held company context letting people receive millions in dividends and pay not taxes on it), and there is no deduction for dividends paid to the corporation (in most contexts), and there is no tax credit for taxes paid at the corporate level against income tax liability on dividends, the end result is that there is double taxation of corporate profits both when the profits are earned by the corporation and again when they are distributed to shareholders.

Reed, a Corning Republican who is drafting a tax - reform compromise in which that deduction may be turned into a tax credit with limits for upper - income homeowners, said on Facebook that his plan would ensure a tax cut for local property taxpayers in New York State.

Among them was changing the earned - income tax credit, which provides tax credits to low - income workers, by raising the ceiling by which workers can qualify for the credit from $ 12,000 a year to $ 18,000.

This Earned Income Tax Credit, which Sykes helped author for New York state, added up to almost $ 1 billion in payments to poor New York workers in 2009.