Sentences with phrase «only single taxpayers»

Not exact matches

Single taxpayers earning more than $ 129,000 per year ($ 191,000 for married couples) are not eligible, and you can only contribute $ 5,500 per year ($ 6,500 if you're over age 50).

Notably, the deduction only applies to «qualified business income» and can't be claimed by taxpayers in service businesses (excluding architecture and engineering) for single filers with taxable income above $ 157,500, and $ 315,000 for joint filers.

For example, a single taxpayer with an AGI of $ 16,750 can claim a credit equal to 50 percent of her IRA contributions; whereas, a similar taxpayer with an AGI of $ 27,000 calculates the credit as only 10 percent of annual contributions.

For example, according to the chart below, a single taxpayer earning $ 40,000 will pay only 10 percent tax on his first $ 8,700 of income.

For 2017, single taxpayers can contribute up to $ 5,500 to a Roth IRA, or up to $ 6,500 if you are 50 or older, only if your income is $ 116,000 or less.

A single taxpayer with no dependents making $ 80,000 will only be required to pay $ 518 a month -LRB-.08 effect on debt payments to income ratio).

If the taxpayer is a person under 14 years of age by midnight of the first day of the calendar year after the tax year (January 1st), and is required to file the AMT form based on investment income, «Single» is the only allowable filing status for this person in this system.

Single taxpayers, on the other hand, would see a tax benefit of more than $ 600 over the standard deduction (for $ 7K in interest expense), although the net tax savings would only be about $ 150 for a payer in the 25 percent tax bracket.

Can be used only by single or married filing jointly taxpayers who are younger than 65, have taxable income of less than $ 100,000 and who have no dependents.