Sentences with phrase «longer get a tax deduction»

Under the GOP tax bill, they will no longer get a tax deduction.

Under the GOP tax bill, they will no longer get a tax deduction.]

The only problem with the traditional IRA (other than paying taxes at retirement) is that after certain income limits you no longer get a tax deduction for contributing to one.

Not exact matches

Taking the cost of the equipment as an immediate expense deduction allows the business to get an immediate break on their tax burden whereas capitalizing then depreciating the asset allows for smaller deductions to be taken over a longer period of time.

Long Islanders «may be getting the tax cut in their paychecks [next year], but the following April when they do their taxes, they'll find out the deductions aren't there,» he said.

Many a denizen of Nassau County — where the average SALT deduction in 2015 was $ 20,000 — spent the week between Christmas and New Year's fighting for her tax planner's attention; waiting in long lines to prepay her 2018 property taxes, in hopes of getting in one last, unlimited deduction before the new rules take effect — and then learning that those prepaid taxes might not actually be deductible, anyway.

Bellone says that Long Island already sends $ 23 billion more to Congress than it gets back in return, but the tax bills currently making their way through Congress would make this ratio even more unbalanced due to the removal of the SALT deductions.

«Laura will get a healthy RRSP tax deduction and the extra retirement savings, coupled with Samson's company pension, will go a long way towards giving them the comfortable retirement they crave.»

Unfortunately here in TX we get no deduction for contributing to a 529 but the growth is still tax - exempt as long as it's used for education expenses.

A type of IRA that allows you to make after - tax contributions (so you don't get an immediate tax deduction) and then withdraw money in retirement tax - free as long as you meet the requirements.

You won't get a tax deduction when you invest, but long term it's hard to beat the tax savings of funds like I mentioned.

You get an annual deduction for the taxes as long as you own your home.

Long - term care insurance can have some tax advantages if you itemize deductions, especially as you get older.

Christine can no longer take a tax deduction for her IRA contributions because she contributes to the Keogh, but she still gets to shelter her interest and capital appreciation by putting $ 2,000 each year into the IRA.