Sentences with phrase «relatively high income tax»

Hawaii has the highest state income taxes paid of any state due to its relatively high income tax rate and high median household income of $ 71,977.

Not exact matches

That's because of the relatively high state income and sales taxes they pay.

A relatively high median household income of $ 60,741 plays a role in big federal and state income tax bills.

One of the biggest challenges is going to be in certain high - cost parts of the country where they have high home prices, relatively high property taxes or high state income taxes, then that's ultimately going to make the cost of owning a home more expensive.

Equity Income Funds typically distribute most of their income in the form of Qualified Dividends, which for many taxpayers are taxed relatively lightly, allowing most Equity Income Funds and ETFs to be considered High Tax Efficiency investments when compared with other investment options that generate taxable iIncome Funds typically distribute most of their income in the form of Qualified Dividends, which for many taxpayers are taxed relatively lightly, allowing most Equity Income Funds and ETFs to be considered High Tax Efficiency investments when compared with other investment options that generate taxable iincome in the form of Qualified Dividends, which for many taxpayers are taxed relatively lightly, allowing most Equity Income Funds and ETFs to be considered High Tax Efficiency investments when compared with other investment options that generate taxable iIncome Funds and ETFs to be considered High Tax Efficiency investments when compared with other investment options that generate taxable incomeincome.

1) you don't get much in terms of immediate tax break because your marginal tax rate is low 2) you end up locking up money in plans that you can't touch until you are 59 1/2 3) social security replacement rate versus your income is relatively high versus the replacement rate for higher income earners.

If they choose the United States, they are in effect choosing to pay relatively high American corporate rates — up to 39 % — on all the overseas profits they repatriate; unusually, the IRS taxes income on a global basis.

It was high enough, Paul told us, that his relatively prosperous father of three kids paid no income tax in 1950.

However, state and local income taxes are no longer deductible, which is a financial hardship to middle - and upper - income people in relatively high tax states like New York.

The school superintendents said in a relatively high - tax state like New York, the highest - income taxpayers would be forced to pay thousands of dollars more per year in taxes if they are no longer able to deduct state and local income taxes.

The «work - arounds» affect higher income taxpayers in areas of the state with relatively high property tax levels, especially in the New York City suburbs.

«Looking at all of the available metrics, some of this is of course driven by New York being a relatively high - income state,» said John Buhl, a spokesperson for the Tax Foundation.

The state tax fixes will almost exclusively benefit higher income earners who itemize and residents who live downstate with relatively higher annual property tax bills.

McMahon said New York's upper middle class and wealthiest could potentially be the biggest losers under the income tax part of the proposal, because they pay relatively high state and local taxes.

In the end, Republicans captured the default position on tax and spending policy at relatively limited cost to their high - income constituents.

San Francisco has both a parcel tax (relatively common in school districts with a high - income demographic) and an outright transfer from the City's general fund to San Francisco Unified School District (very uncommon).

You are in a low income tax bracket currently, either due to high deductions, or relatively low income.

The ideal scenario is to contribute as much as you can when have a high income with high taxes, and withdraw the money when your taxes are relatively low during retirement.

The original law included an exemption from the AMT that was high enough to tax only those with relatively high incomes.

While the Spencers are struggling with heavy mortgage and daycare costs, their relatively high income makes them a magnet for high income taxes.

But for high - income earners who do save on taxes by itemizing their deductions, Jariwala believes the loss of such strategies will probably outweigh any «relatively small» hike in standard deductions.

Furthermore, these funds have relatively high turnover, which can be an indicator of additional hidden costs related to trading and to short - term returns and non-qualified dividends that would be taxed at ordinary income tax rates.

But despite fiscal problems in some cities and states, tax - advantaged muni bonds are a key portfolio component for many high - income investors with a relatively low risk tolerance, as well as retirees who depend on the stable income.

Under the relatively new Affordable Care Act (ACA) rules, high income earners may pay an additional Medicare tax.

Households that are not at the very top but still have relatively high incomes face somewhat lower statutory tax rates under the regular tax and are therefore more likely to pay the AMT.

One of the biggest challenges is going to be in certain high - cost parts of the country where they have high home prices, relatively high property taxes or high state income taxes, then that's ultimately going to make the cost of owning a home more expensive.

- Relatively high fixed operating costs, as percent of rental income; although, a significant portion of operating expenses is usually reimbursed by tenants, office investors bear the risk of having to pay a greater portion of a building's operating costs and property taxes when market vacancy goes up and the market softens.

The so - called SALT deduction, which provides a tax break on state and local property taxes as well as income taxes or sales taxes, will be capped at $ 10,000 — a change that will mostly hurt people who make relatively high incomes in high - tax states that tend to vote Democratic.

«We're relatively high earners,» Wie said in an email, «so the flat 3.07 percent Pennsylvania (income) tax would benefit us more than the higher property taxes or (the federal) tax change would hurt us.»