Sentences with phrase «mean your income tax»

I mean no income tax, no corporate tax, no......... what else?

At least, I can choose which ministries I want to support with my money... I don't get to choose which wasteful programs my tax dollars are wasted on... It's just a hunch, but I'm willing to bet that you are a tax taker and not a tax payer... and I mean income tax not sales tax, car tax, and other nominal taxes.

This means income tax for minimum wage earners has essentially been abolished.

That means income tax on earnings.

In addition, the death benefit remains tax - free (meaning no income tax and no estate tax).

We don't mean your income tax status.

Not exact matches

Possible reforms could include raising the full retirement age for Social Security to 70 for workers who are currently under age 40; cutting benefits; increasing payroll taxes on workers; increasing Medicare premiums; and making Social Security benefits more progressive — meaning cutting benefits for high - income workers, while preserving payouts for low - income earners.

High - income Wall Street financiers could be unintended winners from a section of U.S. President Trump's tax - cut plan that is meant to help mostly small, «mom - and - pop» businesses.

The difference is that in an S corp, owners pay themselves salaries plus receive dividends from any additional profits the corporation may earn, while an LLC is a «pass - through entity,» which means that all the income and expenses from the business get reported on the LLC operator's personal income tax return, says Ebong Eka, a CPA who also pens his own blog about the world of entrepreneurship at MoneyMentoringMinutes.com.

Those royalty fees are shielded from tax, and mean the company can wipe out its taxable income.

But living in a state with no income tax doesn't necessarily mean you're getting off scot - free.

Likewise, recessions or just lower growth mean lower revenue because our tax system depends mostly on income.

That means that as gross domestic product (GDP) has expanded, the gains have flowed to corporate and owners» profits and to the state, which is delighted to collect higher taxes at every level of government, from property taxes to income taxes.

Less income for people and businesses means less tax revenue for the government.

As it turns out, people with higher income levels are more likely than those of modest means to opt for HSA - qualified health plans, because they are less concerned by the potential out - of - pocket medical costs and more interested in the tax savings, according to Fronstin at EBRI.

The limits of tax cuts as a way of stimulating the economy are also obvious; as I reported in Why Growth May Still Leave 95 % of Americans Behind, rising income disparity means that tax cuts benefit the top 5 % and make relatively little difference to the bottom 95 %.

A net operating loss means tax deductions are greater than the taxable income, which usually happens when business expenses have exceeded earnings.

The other 41 states have either a flat income tax — meaning everyone, regardless of how much they earn, pays the same percentage of their income to the government — or a progressive income tax, which means your tax rate is determined by your income.

The former means transferring income from a high - tax - bracket person in your household to one in a lower bracket.

That means if you earned $ 100, you'd report $ 118 as dividend income and be charged 72 % on those earnings (the new Dividend Tax Credit rate for non-eligible dividends), rather than the 67 %.

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.

Less profits means less corporate income to tax.

While Democrats call the plan a boon to the rich, some aspects of the plan — mainly the elimination of state and local tax deductions — will mean a tax hike for certain high - income earners.

This particular deduction lowers your adjusted gross income, meaning that there's less chance of you being rendered ineligible for certain other tax breaks.

This means you could paying as much as 35 %, 45 % or even 50 % in income tax, which is taking a devastating hit on your compounding ability.

Republicans argue that the new economic growth from the bill will in turn generate more revenue, since larger incomes mean more taxes to collect.

Besides, even if you are eligible to contribute directly to a Roth IRA (which means a modified adjusted gross income below $ 112,000 for individuals and $ 178,000 for married couples filing a joint tax return), the maximum you can set aside this year is just $ 5,500 if you are younger than 50, and $ 6,500 if you are older.

This was widely interpreted as a rebuke to France's newly minted Socialist president, who is making good on campaign promises to tax the hell out of high - income citizens as a means of bridging the country's yawning deficits.

That means Drew should put all of his bonds into his existing IRAs, where he won't have to pay tax on their income until retirement.

This minimum tax rule, which exists in other states as well, means that if your company generates no income in a given year, you must use your personal finances to pay the fee.

This press release contains forward - looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements related to our expectations regarding: GAAP net revenue, GAAP gross margins, GAAP operating expenses, GAAP operating loss, GAAP tax expense, GAAP EPS, non-GAAP revenue, non-GAAP gross margins, non-GAAP operating expenses, non-GAAP operating income (loss), non-GAAP tax rate, non-GAAP EPS, share count and cash.

Remember: A job overseas usually means foreign earned income exemption and not having to pay the majority of federal taxes.

«Mark - Up of H.R. 3996, The Temporary Tax Relief Act of 2007 and H.R. 3997, The Heroes Earnings Assistance and Relief Act of 2007,» Hearing Before the Committee on Ways and Means, United States House of Representatives, November 1, 2007; «Baucus, Grassley Tackle Alternative Minimum Tax Relief on First Day of 110th Congress,» Press Release, January 4, 2007; «Easing the Family Tax Burden,» Hearing Before the Committee on Finance, United States Senate, March 8, 2001; «Revenue Proposals and Tax Cuts in the President's Budget,» Hearing Before the Committee on Finance, United States Senate, February 28, 2001; «President's Tax Relief Proposals: Individual Income Tax Rates,» Hearing Before the Committee on Ways and Means, House of Representatives, February 13, 2001; Jerry Tempalski, «The Impact of the 2001 Tax Bill on the Individual AMT,» National Tax Association Proceedings: 94th Annual Conference on Taxation, November 10, 2001.

We need it to happen right now, even if that means raising taxes on high incomes or removing the salary cap in Social Security taxes.

The increased taxes plus increased insurance costs mean a double hit to American incomes.

However, when families are making these decisions themselves, their marginal tax rates will have significant effects on the lifetime earnings differences, especially for high - income families or families who currently qualify for means - tested benefits.

It means more women are paying income tax, and less women are on welfare.

The Democratic - aligned economist Austan Goolsbee says there's a wrinkle in the new tax package that might make those numbers even worse: the individual tax cuts are set to expire after several years, and along with other tax changes, could mean higher taxes down the road for many lower - and middle - income people.

It's already in an enterprise zone, meaning property tax and income tax benefits for new hires are automatic.

While the province's five - year - old carbon tax means BC residents pay higher pump prices, offsetting cuts to their personal income tax have left them with the lowest tax rates in the country.

My severance package was large enough to pay for 5 - 6 years of living expenses, which meant I could save / invest 100 % of all after - tax income earned between 2012 — 1Q2017 to try and «catch up» to the 20X target.

This means your contributions to these accounts lower your adjusted gross income, potentially putting you in a lower tax bracket as well.

For some taxpayers, this may be zero, which means you do not owe any income tax.

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

While Rep. Kevin Brady (R - Tx), the GOP's chief tax writer in the House, may be looking for immediate income, he told Yahoo Finance at the All Markets Summit that he wants to encourage people to save more — and was looking for alternative means, besides 401 (k) s.

Returning the rate to that level, combined with the most recent uptick in the top marginal personal income tax rate, would mean that Ontario investors would pay as much as 40 per cent tax on capital gains.

Because your deduction reduces the amount of income taxed at your highest marginal rate, this calculation works in most situations since taking the deduction means you have less income being taxed at the highest rate you pay.

Even though it means you have more taxes, it especially means you are making more and more money with both your blog and your dividend income.

According to Jack Mintz, one of Canada's leading tax experts, income splitting would achieve «horizontal equity» meaning «the equal treatment of equals» where «families with similar economic circumstances should be taxed similarly».

The government explains that lower corporate tax rates were intended to apply only to active business income and not as a means of maximizing personal savings.