Sentences with phrase «phaseout on»

There is a phaseout on Roth IRA contributions, based on your filing status and modified adjusted gross income (MAGI).

For one, the new law eliminates the Pease phaseout on itemized deductions for taxpayers with high AGIs from 2018 to 2025.

It has substantially higher contribution limits, no income phaseouts on the full deductibility of contributions, and lets you postpone RMDs if you're still working at age 70 1/2.

It has substantially higher contribution limits, no income phaseouts on the full deductibility of contributions, and lets you postpone RMDs if you're still working at age 70 1/2.

Not exact matches

It does not take into account state or local taxes, fees, or expenses, or the net gain's potential impact on adjusted gross income, which could impact exemption and deduction phaseouts and eligibility for other tax benefits.

On the other hand, the 1.45 percent Medicare tax applies to all levels of income and has no phaseout.

However, while the routine deduction phaseout scheme isn't too hard on deductions, AMT is, and AMT kills a lot of the value of their deductions.

While critics of the deal focus on comparing Canada's tariff phaseout period on vehicles to the longer tariff cut schedule offered by the United States, they fail to acknowledge that the important bilateral concession offered by the United States was the immediate elimination of U.S. duties on auto parts — something that will benefit American assembly plants as well as TPP parts makers.

The Panel for Educational Policy will vote on the phaseout of Wadleigh's middle school grades, along with the partial closing of Washington Irving High School, on Feb. 9 at Brooklyn Technical High School.

A surcharge on utility bills called the 18 - a assessment was enacted as a temporary measure in 2009, renewed, and then scheduled for phaseout by 2017.

Targets for nuclear power range from 35 % of generating capacity down to zero — a total nuclear phaseout — although those close to the deliberations believe the government will settle on 15 % when it finalizes the policy this summer.

The disaster galvanized countries drifting away from nuclear power to formalize the divorce — Germany, for instance, already had phaseout plans on the books.

Germany and Switzerland took the disaster as a cue to announce phaseouts of their entire nuclear sectors, and a referendum in Italy put the brakes on Silvio Berlusconi's plans to revive nuclear power in that country.

It also left the door ajar for a general phaseout later — but only after an assessment of the impact of deep - sea fishing gear on fragile species and marine ecosystems after 4 years.

At least one major sticking point between the parties — differing positions on nuclear energy — disappeared as Merkel's CDU decided to support Germany's phaseout of nuclear power after the Fukushima disaster.

The protest goal is a moratorium on school closures, phaseouts and turnarounds.

[15] Since the phaseout of the Asüna brand in 1993, after only one model year, the Sunfire name moved to a Pontiac, as its version of the third - generation Chevrolet Cavalier on the GM J platform rather than an Isuzu platform.

The Dodge Grand Caravan, which survived a planned phaseout last year to live on for a while longer, was last redesigned in 2007 by DaimlerChrysler.

LTCGs do get the special rates under AMT, but there \'s some weird interaction that goes on there in some situations (I think having to do with the exemption phaseout, which means we \'re talking here about folks with higher incomes, at least higher incomes once you include the capital gains).

The chart below (from IRS.gov) shows the phaseouts for contributing to a Roth IRA based on your modifies AGI:

Phaseouts, limits and caps are almost always less advantageous when filing separately (such as for the cap on rental losses and taxation of Social Security benefits)

You also mention child care - The child care credit comes with a phaseout based on income, the Dependent care account alows you to set aside up to $ 5K pretax money to covers these costs.

For example: A married couple earns $ 350,000 of ordinary income and faces a marginal federal tax rate as high as 39.8 %: a 33 % tax bracket plus two percentage points for the phaseout of personal exemptions, one point for the phaseout of itemized deductions and a 3.8 % Medicare surtax on net investment income.

While there is no limit on the amount of PMI payments homeowners may deduct, the amount may be reduced based on your monthly income, also known as an income phaseout.

The tax act also expands the child credit and the Earned Income Tax Credit (EITC), reduces marriage penalties, increases subsides for education and retirement saving, repeals the limitations on itemized deductions and phaseouts of personal exemptions, and provides temporary, limited relief from the alternative minimum tax (AMT), a complex law that was designed to prevent aggressive tax sheltering but primarily affects large families or residents of states with high income taxes.

Not only could that mean they fall into a higher tax bracket, but it may push them past the phaseout range for tax benefits they usually rely on,» said Perlman.

See below for information on the phaseout.

Also note that there is a Roth IRA phaseout depending on your Modified Adjusted Gross Income (MAGI):

In another situation, the adoption credit is phased out for AGIs between $ 174,730 and $ 214,730, and in the case I've been alerted to, the taxpayer loses $ 11,600 on the next $ 40,000 of income due to this phaseout.

Yet the irony is that while they are referred to as «phaseouts of itemized deductions» and a «personal exemption phaseout» the reality is that the Pease limitation and PEP are applied primarily based on the extent by which someone's income is over specified thresholds.

These two rules, triggering a phaseout of itemized deductions and personal exemptions, are also known respectively as the Pease Limitation on itemized deductions (named after Representative Donald Pease [D - Oh.]

(Ellen Barry and Coral Davenport have a feature focused on the challenges this phaseout poses in India.)

But his prescription was different than those of Mr. Barnes and Dr. Hansen, focusing instead on an aggressive policy to deploy new energy technologies for electricity and transportation and a quick phaseout of traditional coal - burning power plants.

«That demands a speedy switch to the phaseout pathway, especially regarding conversion of coal into electricity,» Barbara Hendricks, the German Environment Minister, said by e-mail before the deal was announced on Saturday.

Trudeau had recommitted Canada to the UN's international climate action process in Paris, brokered a deal with all 12 provinces and territories to put a price on carbon, and introduced a nationwide phaseout plan for coal - fired power.

However, with the federal elections coming up in September, the phaseout of lignite is on the political agenda.

It calls for a revenue - neutral carbon price, a 10 million person «clean energy workforce,» a 65 miles per gallon average fuel economy for cars and trucks by 2025, the construction of a nationwide high - speed rail network, a ban on oil drilling offshore and in the Arctic, and a phaseout of subsidies to the fossil fuel industry — all top items on environmentalists» wish lists.

This killed Republican attempts (by the aptly named Reps DeLay and Doolittle) to stop the phaseout of CFCs, and Baliunas has been very quiet on the ozone issue ever since.

En route to its 2050 Energiewende goal of 80 % of the nation's power being supplied by renewables, especially spurred on by the phaseout of nuclear reactors, Germany broke another renewable energy record on Sunday, May 11, 2014.