Sentences with phrase «likely in a higher income bracket»

This means you don't pay income tax on this money now, while you're likely in a higher income bracket.

Not exact matches

«Deferring that income could be advantageous because you are most likely in a higher tax bracket while working than when you retire,» said Labant.

A 2001 U.S. Department of Education report claimed that students in poverty are 15 percent less likely to have access to computers at school than students in the highest income brackets.

A poor student with high SAT scores is less likely to finish college than a student with lower scores who happens to be in a higher income bracket.

The reality is that the dividend income will be quite large as they near retirement and should likely put them in a higher tax bracket.

Keep in mind, higher income married couples are more likely to be subject to the «marriage penalty» and filing jointly may push you into this bracket when you weren't there separately.

While the Traditional IRA would likely be more optimal for us since we are in a higher tax bracket today than we likely will be in retirement, we are locked out of this option since our taxable income is above the max allowed.

If that's likely, you may want to accelerate income into 2017 so you can pay tax on it in a lower bracket sooner, rather than in a higher bracket later.

Therefore, higher - income investors (with theoretically higher tax bills) are likely to benefit more from municipal bond yields than individuals in lower tax brackets.

Since you don't pay federal or state income taxes on Roth withdrawals, the higher your tax bracket in retirement, the more advantageous a Roth is likely to be.

You don't mention what your annual pension income is but any withdrawals from an RRSP are added to other income and this could increase your tax owing in that year by moving you into the next (and likely higher) tax bracket.

-- People who made less than $ 50,000 a year were less likely to be reunited with their dogs than people in higher income brackets.

The same study also found that cardholders in low - income brackets are nearly as likely as middle and high - income cardholders to opt for a rewards card, despite the higher finance charges.

Elimination of the deduction will lead to higher revenues overall for the government because the person who deduced the alimony was likely in a higher tax bracket than the spouse declaring the alimony as income.

Finally, those with a lower income were much more likely to splurge on something for themselves than those in higher income brackets.

The report shows this also plays a role in the racial wealth gap, as most households (67 percent) are white and are more likely to be in a high - income bracket compared to black and Latino households.