Sentences with phrase «phased out of a tax»

«Kink» refers to the change in the slope of the curve representing the correlation between two variables (in this case, family income and college attendance) that one should see in the portion of curve where the hypothesized causal intervention (in this case, the phase out of the tax credit) is operative.

Lowering AGI and taxable income is always good, but especially if the taxpayer is getting phased out of a tax benefit.

Not exact matches

That number assumes that most of the personal income - tax reductions expire in eight years, and a break for expensing capital equipment starts phasing out in 2023.

Under Section 179 of the tax code, explains Brian McCuller, JD, CPA, «the expensing provision allows capital investments of up to $ 500,000 for certain property to be taken as an expense deduction — rather than being depreciated break — which was made permanent under the PATH Act passed at the end of 2015 — phases out for asset purchases above $ 2 million.»

According to the Tax Policy Center, in 2017 the credit starts phasing out for households earning $ 203,540 and cuts off completely for those with incomes of $ 243,540 and higher.

High incomes will pay an extra 3.8 % Net Investment Income Tax as part of the new healthcare law, and be subject to limited deductions and phased - out exemptions (not shown here), in addition to paying a new 39.6 % tax rate and 20 % capital gains raTax as part of the new healthcare law, and be subject to limited deductions and phased - out exemptions (not shown here), in addition to paying a new 39.6 % tax rate and 20 % capital gains ratax rate and 20 % capital gains rate.

The Institute proposes an extensive review of tax expenditures to identify and phase out / eliminate those failing the tests of economic efficiency and cost effectiveness.

The Institute proposes that a panel of independent academics and tax experts be established to conduct a rigorous review of all tax expenditures to phase - out those failing the tests of economic efficiency and cost effectiveness.

[2] If she marries a man making $ 40,000 — whose 2016 income tax as a single person would be $ 3,984 — she would lose all of her EITC (the couple's income would cause the credit to phase out completely) but would retain her CTC.

Instead of working on the demand side, attention has turned to stimulating business through tax cuts, entrepreneurship and innovation while phasing out excess capacity resulting from the previous stimulus.

In contrast, the new House plan would phase out the estate tax over six years, starting with a doubling of the generous $ 5 million exemption (indexed to $ 5.49 million in 2017).

Tax laws are subject to change and the preferential tax treatment of municipal bond interest income may be revoked or phased out for investors at certain income leveTax laws are subject to change and the preferential tax treatment of municipal bond interest income may be revoked or phased out for investors at certain income levetax treatment of municipal bond interest income may be revoked or phased out for investors at certain income levels.

The latest budget contained two of the election promises: potential reimbursement to the province of Quebec for costs associated with the potential harmonization of the provincial sales tax with the GST and the phase - out of political subsidies.

For 2017 tax returns, the maximum benefit for the AOTC begins to phase out when modified adjusted gross incomes (MAGI) reaches $ 80,000 and is completed phased out at MAGI of $ 90,000.

The Omnibus Budget and Reconciliation Act of 1990 (OBRA90): This act increased excise and payroll taxes, added a 31 percent income tax bracket, and introduced temporary high - income phase - outs for personal exemptions and itemized deductions.

NOTE: These rates are NOT inclusive of the 3.8 percent Medicare surcharge tax or any additional taxes applicable from the phase - out of itemized deductions and personal exemptions.

For those whose tax filing status is single, the Roth contribution phase - out rule does not begin until you earn 118,000 or more, as of 2017, notes Mark Hebner, founder and president, Index Fund Advisors, Inc., in Irvine, Calif..

Meanwhile, personal and dependent exemptions are eliminated in favor of a larger standard deduction and child tax credit, both of which phase out for the highest earners.

The tax credit will be phased out over the next year since Tesla will have sold over 200,000 electric vehicles in the US triggering a sunset of the tax credit.

We also applaud the reduction of the small business tax rate by 0.5 % and the phasing out of PST on electricity.

But starting in 1996 these advantages were placed on a 10 - year phase - out schedule and, despite the hopes of Puerto Rican politicians (and tax break hungry business), they were never extended or replaced.

The phase out of the PST on electricity is an important step in ensuring the tax code does not impeded the economic competitiveness of our province.

J.W There are many deductions you can not take if you file married filling separate: Student loan interest deduction,Tax - free exclusion of US bond interest, Tax - free exclusion of Social Security Benefits, Credit for the Elderly and Disabled, Child and Dependent Care Credit, Earned Income Credit, Hope or Lifetime Learning Educational Credits, MFS taxpayers also have lower income phase - out ranges for the IRA deduction Also both claim the standard deduction or both itemize their deductions Big problem is tax liability goes to both husband and wTax - free exclusion of US bond interest, Tax - free exclusion of Social Security Benefits, Credit for the Elderly and Disabled, Child and Dependent Care Credit, Earned Income Credit, Hope or Lifetime Learning Educational Credits, MFS taxpayers also have lower income phase - out ranges for the IRA deduction Also both claim the standard deduction or both itemize their deductions Big problem is tax liability goes to both husband and wTax - free exclusion of Social Security Benefits, Credit for the Elderly and Disabled, Child and Dependent Care Credit, Earned Income Credit, Hope or Lifetime Learning Educational Credits, MFS taxpayers also have lower income phase - out ranges for the IRA deduction Also both claim the standard deduction or both itemize their deductions Big problem is tax liability goes to both husband and wtax liability goes to both husband and wife

But on the basics of tax and spend, they have persistently made non-progressive choices - tax cuts that disproportionately benefit the rich; scrapping the Child Trust Fund; phasing out tuition fees.

Silver also ruled out passing the Republicans» tax - cut package, which includes a series of phase - ins for various cuts and incentives.

Independent Democratic Conference Leader Jeff Klein believes the Senate GOP will come around to backing the continuation of a surcharge on the wealthy in order to fund education spending, a phase out of tuition costs and potentially cuts to business taxes.

The new federal tax law will double the credit to $ 2,000 per child and raise the income phase - out range to a starting point of $ 200,000 for single filers and $ 400,000 for married couples.

Business groups did see some victories in this year's budget, like lower corporate tax rates and phasing out of the 18a utility tax.

The pro business group wants a phase out of the corporate franchise tax for upstate — based companies.

The tax breaks, targeted for businesses and the middle class, include a phase out of a surcharge on utilities, and the distribution of $ 350 dollar checks, starting next year to every family with children up to the age of 18.

«Although the tax credits system is being phased out and gradually being replaced by Universal Credit, HMRC still has time to reduce the levels of error in the system.

And one of the most touted elements of the agreement turned out to be something Cuomo's State of the State speech didn't include: a gradual tax reduction for households earning less than $ 300,000 a year, to be phased in from 2018 to 2025.

The two sides of what will likely be an overarching debate during the 2018 legislative session were on display yesterday with progressives calling for an increased millionaires» tax and conservatives saying that existing taxes should be phased out as scheduled to prevent a further exodus of Empire State residents.

In addition to recommending the so - called circuit - breaker approach for property taxes and cuts to business taxes such as a complete phase out of the 18a assessment surchage for utilities, the commission called for linking the tax cap, consolidating services and individual tax credits for homeowners.

Such a deal would be closer to the agency's standard «community benefit» tax exemption policy, except that the standard policy provides a full exemption for the first three years and phases it out of the next nine years.

18 - A (TED Part S) Executive Budget - In accordance with the recommendations of the New York State Tax relief Commission, Part S of the TED Article VII legislation, would reduce the Public Service Law § 18 - a (6) Temporary State Energy and Utility Service Conservation Assessment (Temporary Assessment) by a total of $ 200 million per year by eliminating the assessment on industrial utility customers and accelerate the phase out for all other customers.

On Wednesday, Republicans showed little interest in scaling back the dimensions of their tax bill, which would consolidate seven brackets into four, reduce the corporate tax rate from 35 percent to 20 percent, phase out the estate tax, and double the standard deduction to $ 24,000 per married couple and $ 12,000 per individual.

Legislative leaders have signaled a desire for a complete phase - out of the fuel tax in the coming years, making airlines and airline passengers big winners for sessions to come.

«The New York City business community supports recommendations of this commission to reduce some aspects of the tax burden, including simplification and consolidation of business and bank taxes, accelerated phase out of a surcharge tax on utilities, and raising the threshold for estate taxes to conform with federal standards,» she said.

The Tories have called for a large increase in state funding for all parties with more than two Commons seats, a cap of # 50,000 on all donations, the phasing out of corporate donations - including from trade unions, and tax relief for donations.

E.J. McMahon, research director at the fiscally conservative Empire Center, urged policymakers to «ensure the additional state «millionaire tax» rate is phased out on schedule at the end of 2019.»

The Tories have called for a large increase in state funding for all parties with more than two Commons seats, a cap of # 50,000 on all donations, the phasing out of corporate donations - including from trade unions - and tax relief for donations.

Democrats criticized the provisions phasing - out the inheritance tax and repeal of the alternative minimum tax on the highest earners, the Associated Press reported, and said the cuts come at the expense of the middle class.

The SNP are supporting the people of Glasgow North East through these tough times by freezing the council tax, phasing out prescription charges, taking real action on crime and investing billions in infrastructure to support local jobs while Labour let people down.»

On the very night that current President Dilma Rousseff gave the closing speech of the Rio +20 conference in June — the final agreement of which promised to phase out fossil - fuel subsidies — the government said it would be reducing a federal fuel tax to zero.

In exchange for the tax, much of U.S. EPA's regulatory authority over carbon dioxide emissions would be phased out, including the Obama administration's Clean Power Plan.

The tax credits «phase - out» within certain income ranges, with their value dropping with each additional dollar of income.

If tax credits work as intended, the association between level of family income and college attendance should weaken where the tax credits phase out.

Roth IRAs are an excellent retirement account option that let you invest after tax dollars into an Individual Retirement Account which will then grow tax free (which can then be invested in virtually any investment vehicle), unfortunately, after you make a certain amount of money, your ability to invest in a «Roth» IRA phases out (I guess that's why they call it the «Roth Phase Out»out (I guess that's why they call it the «Roth Phase Out»Out»).

For those whose tax filing status is single, the Roth contribution phase - out rule does not begin until you earn 118,000 or more, as of 2017, notes Mark Hebner, founder and president, Index Fund Advisors, Inc., in Irvine, Calif..