Sentences with phrase «per taxable year»

A business may receive a tax credit equal to 75 % of its contribution to the PSPCA, up to a maximum of $ 750,000 per taxable year.

The tax credit may be increased to 90 % of the contribution made, up to a maximum of $ 750,000 per taxable year, if the business agrees to provide the same amount of contribution for two consecutive years.

Up to $ 10,000 per taxable year in 529 account assets per beneficiary may be used for tuition expenses in connection with enrollment at a public, private, or religious elementary or secondary educational institution.

Not exact matches

The ACCA allows manufacturing companies to depreciate, for tax purposes, the value of newly purchased equipment and machinery at the accelerated rate of 50 per cent per year, reducing their taxable income in the first few years of owning the asset.

Our plan is to invest 10k to my 403b plan, 8k to Roth 403b plan, 11k for our Roth IRA, 5500 for our HSA and 25k for our taxable account per year and 1950 to my wife roth 401k.

Just note that as of current tax law, you can only deduct $ 3,000 in annual capital gains per year, e.g. your $ 10,000 in taxable capital gains can be reduced to $ 7,000 in taxable capital gains.

The term «applicable educational institution» refers to an educational institution which a) had at least 500 students during the preceding taxable year; b) the aggregate fair market value of the assets of which at the end of the preceding taxable year (other than those assets which are used directly in carrying out the institution's exempt purpose) is at least $ 500,000 per student of the institution; and c) more than 50 percent of the students are located in the United States.

My single income household grosses roughly $ 120K per year, but thanks to non-taxable benefits (housing allowance, subsistence, etc.), only 75 % of that annual pay is taxable (not bad considering I've given a blank check to God & Country).

However, the direct payment of someone else's tuition expenses is not considered a taxable gift, and is therefore exempt from the gift tax (up to $ 14,000 per year).

For instance, if you earn $ 50,000 per year and you put $ 5,000 into your 401 (k), your taxable income drops to $ 45,000; if your marginal income - tax rate is 25 %, this would save you $ 1,250 in taxes.

The taxable value of a property is calculated as the cash value of the land (the amount the land alone would sell for on the market), and the replacement cost of all buildings minus depreciation of 1.5 % per year since construction.

* Per the IRS, a SEP or SIMPLE IRA is considered active if it has been maintained under an employer arrangement under which an employer contribution is made for the plan year ending with or within the IRA owner's taxable year in which charitable contribution would be made.

That means they can help «Obamacare - proof» your interest from the 3.8 percent Affordable Care Act (ACA) tax on investment income (applicable to those who make more than $ 200,000 in taxable income per year).

Hereafter, the amount to be raised by tax on real estate in any fiscal year, in addition to providing for the interest on and the principal of all indebtedness, shall not exceed an amount equal to one per centum of the average full valuation of all of taxable real estate within the County, less the amount to be raised by tax on real estate in such year for the payment of the interest on and redemption of certificates or other evidence of indebtedness described in paragraphs A & D of section five of article eight of the constitution of the State of New York.

The County Executive has proposed a 2007 Library budget that keeps funding flat for the third year in a row $ 7 million less than we received 2 years ago, roughly the same level of funding we received ten years ago $ 35 less per average $ 100,000 taxable property than the Library received in 2000!

You may be able to invest 100 % of your taxable compensation up to $ 5,500 per year ($ 6,500 for those age 50 and older) in Traditional and / or Roth IRAs, each offering unique tax advantages.

PFRDA in its circular has clearly mentioned that as per the provisions in the Income Tax Act, the amount transferred from Recognised PF / superannuation fund to NPS will not be treated as Income of the current financial year and is hence not taxable.

I found that if I max out my RRSP contributions for 2007 at $ 4,500, thereby decreasing my taxable net income by that amount, it will increase the CTB received by $ 15 per month, or $ 180 for the year.

Your gifts are taxable if they exceed $ 14K per year per person.

Planners continually point to TFSAs as a better saving option for Canadians earning less than $ 40,000 per year because those people don't benefit much from RRSPs, which lower taxable income.

Assuming that the couple's present total taxable and TFSA savings balance of $ 202,000 rises to $ 248,500 in 7 years when Nancy is 60 with a 3 per cent return after inflation and no tax, the savings, annuitized to pay out all income and principal in the 39 years to Jacques» age 90 would generate $ 910 per month.

The credit (up to a maximum of $ 2,000 per year) is based on the net reduction of federal tax that would be realized if up to $ 50,000 of the taxpayer's taxable income was transferred to a lower - income earning eligible spouse or common - law partner.

Adding up the numbers and assuming that Lou and Martha turn 65 within a 12 - month period, their retirement income will comprise $ 8,000 foreign government pensions, $ 8,800 foreign company pensions, $ 45,500 annual RRSP payouts, $ 9,150 TFSA payouts, annual taxable rent of $ 14,400 in their new home and combined OAS and CPP benefits of $ 20,130 per year.

Cindy's present $ 346,790 taxable account would, again with the same assumptions, generate $ 17,700 per year.

If her RRSP is fully paid out over the following 25 years to age 90, it would support an indexed taxable income of $ 15,864 per year.

If they charge rent of $ 1,600 per month and deduct operating costs of just $ 400 per month for utilities and repairs on the assumption that a new mortgage would be paid in full or close to it by retirement, the new rental would produce taxable rent of $ 14,400 per year.

Dear santosh, If you have withdrawn your EPF balance within 5 years of service, such amount is taxable as per your tax slab rate.

Capital losses from sold investments can also reduce your taxable income by up to $ 3,000 per year.

If, instead of an IRA you had an IUL policy loan for $ 40,000 per year, your taxable income would be zero because you would be under the base limit.

So if I had an employer 403b and a personal Roth IRA — I should max out my contributions per year at $ 18,000 and $ 5,500 respectively before beginning to fund taxable accounts?

2 % back per year, for 10 years may just beat inflation and if you're in a taxable account, you're actually making a deal with the government where you might lose money.

Individuals are allowed to contribute up to $ 5,500 per year ($ 6,500 if you are 50 +), though there are income limits that can restrict your ability to make contributions or deduct them from your taxable income.

* Per the IRS, a SEP or SIMPLE IRA is considered active if it has been maintained under an employer arrangement under which an employer contribution is made for the plan year ending with or within the IRA owner's taxable year in which charitable contribution would be made.

Of that, around $ 25,000 is taxable wages per year.

Steve's taxable income is $ 65,000 and Ellen works part - time, earning $ 25,000 per year.

If this was cashed in at the end of the year, Nigel would pay tax of $ 17 ($ 100 capital gain x 33.33 per cent x 50 per cent taxable capital gain), netting him only $ 2,083.

If you end up with a net loss, you can use up to $ 3,000 per year to reduce your taxable income.

Tax filers may deduct from their taxable income up to $ 2,500 per year for interest payments on student loans.

The TFSA is an account where you can put money (up to $ 5,000 per year per person) and all gains (interest income, dividend and capital gains) are non taxable.

$ 62,000 a year of fully taxable income would leave her with $ 50,000 after tax at an approximate tax rate of 20 per cent.

Trustee - to - trustee transfers are not taxable at the time of the transfer, since there is no distribution to the account owner and they are exempt from one - rollover - per - year rule, since they are not considered rollovers.

This means Jacqui will have a taxable income of $ 75,000 per year.

If their $ 520,000 of RRSPs is annuitized while growing at three per cent a year after inflation, they would generate taxable income of $ 27,100 in 2015 dollars for the 29 years to Phyllis» age 90.

That first year in 1957, the maximum we could contribute was only $ 2,500 or 10 per cent of taxable income, whichever was less.

Finally, if you have a taxable estate, you can give up to $ 14,000 per individual ($ 28,000 per married couple) each year to anyone free of federal gift tax.

And when you have no gains, you can use losses to offset your taxable income, up to $ 3,000 per year.

For a 70 - year old female, for $ 100,000 in the bare bones single life prescribed non-registered annuity would pay out $ 535.16 per month at Desjardins, only $ 16.84 of it taxable.

Contributions to an Arkansas 529 plan of up to $ 5,000 per year by an individual, and up to $ 10,000 per year by a married couple filing jointly, are deductible in computing Arkansas taxable income, with a four - year carryforward of excess contributions.

When she reaches 45 years old, she just starts withdrawing $ 9,000 per year and she doesn't have to pay any tax or penalties because she already paid tax on that money before she contributed to the taxable account.

Contributions, including rollover contributions, to an Alabama 529 plan of up to $ 5,000 per year by an individual, and up to $ 10,000 per year by married taxpayers filing jointly who each make their own contributions, are deductible in computing Alabama taxable income.