Sentences with phrase «phaseouts for»

• Reinstates the Pease / PEP phaseouts for deductions; for married taxpayers with AGI above $ 300,000 ($ 250,000 single), the Pease limitation reduces total itemized deductions by 3 percent for the dollar amount of AGI above the thresholds.

To make this deduction even better there are absolutely no income phaseouts for the HSA contribution deduction so you could be Bill Gates or Warren Buffet and still take the full HSA contribution deduction.

There are income phaseouts for this tax deduction, though.

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

There are income phaseouts for this tax deduction, though.

For 2006, the contribution phaseout for Roth IRA Contributions using the following Modified Adjusted Gross Income (MAGI) ranges are:

The phaseout for the new credit begins at $ 200,000 for single filers and $ 400,000 for joint filers.

The earned income tax credit threshold for couples filing jointly is set at $ 5,000 (indexed from 2008) above the phaseout for single filers.

I wasn't aware of the phaseout for deducting a traditional IRA, but it looks like my salary is just above the cutoff.

Last week, she reached a deal with utilities that analysts at Berenberg and B. Metzler Seel Sohn & Co. see as the start of the phaseout for the dirtiest power - plant fuel.

Not exact matches

If you are married and are covered at work, the phaseout happens for incomes of $ 101,000 to $ 121,000.

Many phaseouts create significant marriage penalties — or bonuses — because the phaseout range for married couples is less than twice that for single tax filers.

Many phaseouts are indexed for inflation so that the phaseout ranges remain fixed in real terms.

Phaseouts narrow the focus of tax benefits to low - and middle - income households while limiting revenue costs, but raise marginal tax rates for affected taxpayers.

For example, in 2017 the phaseout of personal exemptions begins at $ 313,800 for married couples filing jointly, less than twice the $ 261, 500 threshold for single fileFor example, in 2017 the phaseout of personal exemptions begins at $ 313,800 for married couples filing jointly, less than twice the $ 261, 500 threshold for single filefor married couples filing jointly, less than twice the $ 261, 500 threshold for single filefor single filers.

Section 179 deductions: Under Section 179 of the Internal Revenue Code, a business could expense up to $ 500,000 of the cost of qualified business property, subject to a dollar - for - dollar phaseout above $ 2 million.

Phaseouts that are not adjusted for inflation affect more taxpayers over time, as inflation raises nominal incomes and thus lifts more taxpayers above the phaseout thresholds.

More broadly, phaseouts complicate the tax code and make it more difficult for taxpayers to understand the taxes they pay.

For example, for single tax filers, the American Opportunity Tax Credit phases out evenly over a $ 10,000 range, so its phaseout rate is 1 percent per $ 100 in additional incoFor example, for single tax filers, the American Opportunity Tax Credit phases out evenly over a $ 10,000 range, so its phaseout rate is 1 percent per $ 100 in additional incofor single tax filers, the American Opportunity Tax Credit phases out evenly over a $ 10,000 range, so its phaseout rate is 1 percent per $ 100 in additional income.

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.

the higher EITC phaseout threshold for married couples filing jointly ($ 5,000 above that for single filers, indexed for inflation);

[2] ATRA also temporarily extended the higher earned income tax credit phaseout threshold for joint filers.

The phaseout thresholds are not indexed for inflation.

The Senate bill included a larger deduction, 23 percent, and a higher phaseout point, $ 500,000 for couples.

But we accept the five - year phaseout as a far better outcome than the highly protectionist phaseout of U.S. tariffs, which will delay the elimination of the 25 - per - cent «chicken» tariff applied to pickup truck imports in the United States for 30 years.

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.

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.

But for as long as fluorescents reign, don't look for a mercury phaseout.

He added that the administration was developing a $ 40 - million plan for economic growth and job creation in the region, where layoffs from the shuttle program's phaseout are expected to hit hard.

«That agreement set the stage not just for this HFC phaseout accord but for the broader Paris Agreement,» said Paul Bledsoe, a White House climate adviser during the Clinton administration.

The phaseout plan is an about - face for Merkel's government, but it looks familiar to many Germans — a majority of whom say they are against nuclear power.

It calls for keeping the eight reactors off - line and says that a complete phaseout is achievable «within a decade.»

For this and other reasons, Canadian doctors support a complete phaseout of this dirty fossil fuel.

(For 2001, there won't be a Plymouth Voyager, as DaimlerChrysler proceeds with its phaseout of the Plymouth name, but there will be a Chrysler Voyager as well as a Chrysler Town and Country.)

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.

There are phaseout income limits that apply to «professional services» business owners such as lawyers, doctors, and consultants, which are set at $ 157,500 for single filers and $ 315,000 for pass - through business owners who file a joint return.

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 are right that it will hit us this year, but the reality is that you have to have significant income for the phaseout to affect your mortgage deduction.

Similarly, your personal exemptions are subject to a phaseout if your income exceeds $ 305,050 for married and $ 254,200 for single filers.

Income within the phaseout range is mostly taxed in the 35 % tax bracket, so roughly speaking PEP increases the marginal tax rate in this range by about 1 percentage point (35 % times 3 %) for each personal exemption (but double that if you're married filing separately).

If you only qualify for a partial contribution, there is a breakdown of the Roth IRA partial contribution phaseout by income in the tables at the end of this post.

If your MAGI falls into the phaseout region your contribution limit for the year begins to fall.

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 incoFor 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 incofor the phaseout of personal exemptions, one point for the phaseout of itemized deductions and a 3.8 % Medicare surtax on net investment incofor the phaseout of itemized deductions and a 3.8 % Medicare surtax on net investment income.

BTW, I'd be thrilled to have a tax rate of 15 %, no amt, no phaseout of my itemized deductions, the ability to make a deductible IRA contribution, the ability to have child tax credits for my 3 kids, etc..

For married persons filing separate returns, the phaseout starts at $ 50,000 AGI.

For one, the new law eliminates the Pease phaseout on itemized deductions for taxpayers with high AGIs from 2018 to 20For one, the new law eliminates the Pease phaseout on itemized deductions for taxpayers with high AGIs from 2018 to 20for taxpayers with high AGIs from 2018 to 2025.

Although the maximum deduction amount is not indexed to change with price levels, the income thresholds for the phaseout ranges are indexed.