Sentences with phrase «paid during the year»

Whether or not you get a tax refund depends on the amount of taxes you paid during the year (because they were withheld from your paycheck), your tax liability and whether or not you received any refundable tax credits.

You can deduct property taxes paid during the year for which you're filing.

You can deduct the interest you pay during the year on qualifying student loans.

The student loan interest deduction allows taxpayers with qualified student loans (loans taken out solely to pay qualified higher education expenses) to reduce taxable income by $ 2,500 or the interest paid during the year, whichever is less.

The federal tuition and fees deduction allows qualifying taxpayers to reduce their taxable income by up to $ 4,000 for qualifying educational costs they paid during the year.

The retirement account holder may be bound to pay income tax on distributions paid during the year.

Student loan interest is interest you paid during the year on a qualified student loan.

You may be able to deduct qualified education expenses paid during the year for yourself, your spouse or your dependent.

Although other requirements exist, only the interest you actually pay during the year is eligible for a deduction.

However, the amount you deduct here is not what your tax burden ended up being on your state tax return, but the amount of state tax that you paid during the year.

Single homeowners have the opportunity to deduct the cost of real estate taxes and mortgage interest expense paid during the year.

His refund will depend on how much tax was withheld from his pay during the year, and the credits he qualifies for (likely the earned income credit and the additional child tax credit).

If you paid less than $ 600 in interest to a federal loan servicer during the tax year and do not receive a 1098 - E, contact your servicer for the exact amount of interest paid during the year.

This document will show the mortgage interest paid during the year, ending principal and escrow balances, late charges due, and escrow interest earned.

This tax credit is available for up to $ 2,500 of college tuition and related expenses paid during the year.

It's the amount of dividend income per share a company pays during the year, divided by the market price of the stock and expressed as a percentage.

Under the tax code section 212, the deduction was allowed for ordinary and necessary expenses paid during the year in connection with one of the following:

Things like the child tax benefit or HST rebates «may need to be refunded if income levels change as a result of the reconciliation» says Testa, but you wouldn't owe anything for the lower taxes you paid during the years you were separated.

The amount of return you receive is directly proportional to the premiums paid during the year.

The bottom line is the less taxes you pay during the year, the smaller the refund you get, but the more cash you have in your pocket all year.

The amount of tax you owe is based on your income — and most people pay it during the year by having it taken out of their paychecks (called withholding).

For home and student loans, you can write off some or all of the interest (depending on how much you pay during the year) on your taxes.

In general, you can deduct expenses that you paid during the year for medical or dental care for yourself, your spouse, and your dependents.

Student loan interest is the interest that you paid during the year on a qualified education loan.

The lender to whom you are making payments will provide you with a statement regarding the amount of interest you have paid during the year, which is deductible if the property is your primary residence or a second home.

A tax deduction, on the other hand, relates to an actual expense you paid during the year such as mortgage interest and medical expenses.

However, some insurers can increase your premium after you make this type of claim, depending on factors such as the type of car you drive, your age, and whether the cost of claims your insurer has paid during the year, has risen.

If you itemize deductions on your federal tax return (instead of using the standard deduction), you are allowed to include state income taxes and property taxes paid during the year in your deduction amount.

To figure out whether itemizing would be profitable for you, you need to determine whether the allowable expenses you paid during the year — for things like home mortgage interest and property taxes, state income or sales taxes, medical expenses, charitable donations, etc. — exceed the standard deduction for your filing status.

These are only paid during the years when insurance companies find that they have earned more than anticipated from investments, they experienced fewer deaths and / or they paid out less in expenses.

All of the premiums paid during those years were pure profit to the company.

You probably know that if you itemize your deductions on your federal income tax return you can deduct the mortgage interest you paid during the year from your taxable income.

Although they often do not take advantage of the full tax benefits of their property by itemizing, most homeowners can deduct mortgage interest for loans under $ 1 million; property taxes paid during the year, but not those placed in escrow for the future; any points paid to lower the mortgage interest rate; and interest on home equity loans or credit lines up to $ 100,000.

Not exact matches

During the 13 years Trump spent as chairman, the company lost a total of $ 1.1 billion and declared bankruptcy twice — all while Trump essentially paid himself roughly $ 82 million and also had the company pay hundreds of thousands of dollars to buy Trump Ice bottled water for their mini-bars.

Top Olympic sponsors can pay about $ 100 million over four years to the International Olympic Committee for exclusive marketing rights to the Games, and they keep a close watch for any guerilla marketing during the event by their rivals.

Much of the rent and the consultants» work were paid for in DenOptix stock, meaning that the company spent only $ 45,000 of its precious cash during its first year of business.

«If your business is structured as a sole proprietorship or an LLC, you are probably better off taking distributions from the company and paying taxes on an estimated basis during the year,» Spark says.

For example, Apple Pay lagged behind Chinese competitors in providing promotions timed with the Chinese cultural tradition of exchanging red envelopes («hong bao») filled with money during the Lunar New Year.

Netflix is now offering unlimited paid leave to parents during the first year after a child is born or adopted.

«Notwithstanding some operational issues in the latter part of the financial year, Karouni still managed to generate a strong cash margin of $ 26 million during its first six months, which assisted with paying down $ 55 million in debt repayments and financing costs.»

Depending on how much you owe the IRS at the end of 2018, you could be penalized for not paying enough in estimated tax payments during the year.

During the year the company managed to pay down a whopping AUD$ 45m on its debt facility to financier Investec which represents 45 % of the facility.

If you pay $ 600 or more to an independent contractor during the year (not necessarily all at one time), you should send IRS Form 1099 - MISC to report the annual payments.

Jao says the law firm that counsels Retention Science provided it with discounted advice that the company didn't have to pay for during the first two years of getting off the ground.

But if your income has increased over what you estimated during the year or your expenses are lower than anticipated, you will need to pay the amount owed or be subject to penalties and interest when you finally do pay your taxes.

Credit Suisse Chief Executive Tidjane Thiam earned slightly less in 2017 during his third year on the job, as shareholder scrutiny during the final stages of a major overhaul dampened executive pay.

Taking some time during the year to get, and stay, financially organized can really pay off the next time tax season, or some other big financial occasion, comes around.

State and federal unemployment taxes, but only if (1) they pay wages to employees totaling $ 1,500 or more in any quarter of a calendar year, or (2) they employed at least one person during any day of the week during any 20 weeks in a calendar year, regardless of whether or not the weeks were consecutive.

The Canadian Alliance of Student Associations said a wider breadth of employment options year - round, including part - time jobs, would allow students who study or have other commitments during the summer to find paid work placements in their field.

During downturns, you would withdraw the lowest amount you would need in order to pay your expenses throughout the year.