Sentences with phrase «reduced taxes»

It is important to understand that a tax credit reduces your tax bill on a dollar - for - dollar basis, whereas a deduction only reduces your taxable income.

This strategy, called tax - loss harvesting, involves selling stocks, bonds, and mutual funds that have lost value to help reduce taxes on realized capital gains from winning investments.

Credits offer a tax benefit by reducing your tax liability on a dollar - for - dollar basis.

The tax - free provisions also help in reducing your tax burden.

The increased contribution room will cost the government an estimated $ 1.1 billion in reduced taxes by 2020.

«We've also reduced taxes for every tax category, with the majority of it going to the middle - income taxpayers,» he said.

And their wealth management units are likely to see more money rolling in because the bill reduces tax rates on the wealthy.

This strategy may also potentially help reduce your tax liability on ordinary income and may improve your after - tax performance.

Yet there are still some legitimate ways of reducing tax liability through investments in certain types of partnership or limited liability company arrangements involving such activities as oil and gas drilling.

It's no wonder tax planning is often focused on reducing taxes in the current.

A tax credit reduces a tax bill by the amount specified.

Therefore Conservative efforts to cut public spending would have the effect of reducing tax revenue, without any change to tax rates.

Several presidents have also reduced tax rates, believing that less taxation puts more liquid capital back into the economy.

The maximum number of workers qualifying for five years of income - tax - free status under the new program, with slightly reduced tax benefits over a second five years, is 10,000.

It provides the most sweeping changes to the federal tax code in decades while reducing tax bills for businesses and workers alike.

Regardless of who you are, owning a home is a huge step in your life that allows you to grow roots in the community while reducing your taxes at the same time.

However, some Island - based tax experts say they don't think this will significantly reduce tax burdens.

A core principle agreed to by all in 1986 was that reform would not reduce the tax burden on high - income taxpayers.

Your estate will also get a charitable donation credit that can be used to further reduce the taxes owed.

A credit is an expense you can claim to reduce your taxes payable.

Credits directly reduce your tax as opposed to reducing your taxable income.

This episode focuses on how to potentially reduce your tax liability by implementing smart strategies and taking advantage of tax - free growth in your retirement accounts.

Then the $ 1,000 refundable credit further reduces your tax bill to $ 2,000.

A growing economy, with reduced tax rates and government spending, gives businesses the ability to hire more people and us all a chance to earn more.

Either way, you'll be not only reducing your tax bill, but giving your teammates a much - deserved reward for all of their hard work this year.

There are several types of charitable gifts that reduce your tax costs for transferring assets to your heirs.

You're just reducing the tax hit of capital gains, you've already lost the money.

In this guide I will show you how to reduce your tax withholding rate.

This could serve to reduce the tax obligations significantly.

More businesses will move out, further reducing the tax base that can be used to support these pie in the sky projects.

That means the rate will reduce your taxes if you would otherwise pay a higher rate — but it won't increase your taxes if your regular tax rate is lower.

Another reason to make the maximum annual contribution is simple — it creates a tax deduction that will reduce your taxes paid for the year.

«The changes we made did not reduce our tax payments in any country,» he said.

Nor do I want to reduce my tax bracket to one that is lower than my expected retirement tax bracket.

What is being proposed would actually reduce taxes for many high income earners.

Thus, shareholders can shift income more easily, deciding what year to pay taxes on bonuses and when to take losses, which can substantially reduce tax bills.

These experts suggested that such reporting could yield benefits such as increased revenue collected or reduced tax debt inventory.

This system amounts to income splitting and it can dramatically reduce the tax a family pays.

Every sophisticated investor should strive to legally reduce taxes wherever possible.

Smart Beta ETFs are also extremely tax efficient and greatly reduce the tax burden often associated with high turnover trading strategies in a taxable portfolio.

Executives with concentrated and restricted positions in a public company stock may think about donating shares to help reduce tax exposure in their portfolios.

Don't forget, we had a grouping of people surrounding him that call themselves conservatives, and were always talking about reducing taxes.

If on another asset you have a capital loss, you can set it off too and thus reduce your tax liability.

The tax program is designed to encourage local governments to find ways to cut costs which, in the long run, could lead to reduced tax increases.

Each dependent that you claim on your federal income taxes reduces your taxable income for the year, which in turn reduces your tax bill.

This could reduce the tax load during the working years, depending on how much earned income you have.

Choose intelligently and you can reduce your tax bite.

The $ 10,000 withholding will increase your refund or reduce your tax due when you file your income tax return for this year.

Among others, the report said reducing tax expenditures will enable government broaden its tax base and mitigate its reliance on unsustainable resource revenues.