Sentences with phrase «rely on the deductions»

In New York, where the cost of living is high and so are taxes, residents rely on the deductions for relief.

Not exact matches

Many of those companies rely on middle - and low - income shoppers for the bulk of their sales, and changes to individual taxes — such as doubling the standard deduction — will increase discretionary income.

The 2015 Liberal election platform had a proposal to limit the benefits of the 50 % employee stock option deduction by placing a cap of $ 100,000 on annual eligible stock option gains but this was dropped after intense lobbying by startups in the tech and resource industry who rely heavily on non-cash compensation such as stock options to attract much needed, specialized talent to their firms.

«Our bill lowers the tax rates and increases the standard deduction so people can immediately keep more of their paychecks — instead of having to rely on a myriad of provisions that many will never use and others may use only once in their lifetime,» the sponsors said.

The 9 percent business tax also presents problems for business owners because it eliminates deductions many owners rely on.

As many as 50 million taxpayers would qualify, including most of those who take the standard deduction and rely on wages for most of their income.

Unlike tax deductions, which require you to add up your expenses and see whether it pays to itemize your deductions or simply take the standard deduction, tax exemptions are based on preset numbers and don't rely on heavy math.

Of course metaphysics does not rely on external deductions based on the behavior of bodies.

«While the full SALT (state and local tax)... deduction for individuals is repealed, full deductibility will remain in effect for corporations and other business entities, thereby protecting taxpayers in states like Texas, which rely more heavily on corporate taxes,» Faso said.

«While progress has been made during the conference committee, the final bill does not adequately protect the State and Local Tax deduction that so many in our district and across New York rely on,» she said.

«On Long Island the majority of homeowners rely on these tax deductions to be able to afford to live,» he wrotOn Long Island the majority of homeowners rely on these tax deductions to be able to afford to live,» he wroton these tax deductions to be able to afford to live,» he wrote.

«Due to Albany's failed leadership and inability to rein in spending, New York is one of the highest taxed states in the country, and families here rely on this important deduction to make ends meet.

«While the full SALT income tax deduction for individuals is repealed, full deductibility will remain in effect for corporations and other business entities, thereby protecting taxpayers in states like Texas which rely more heavily on corporate taxes.

Congresswoman Nita Lowey, ranking Democrat on the House Appropriations Committee, says The Securing Access to Lower Taxes by Ensuring Deductibility Act, or SALT Deductibility Act, would repeal the $ 10,000 limit on the SALT deduction, providing tax relief for millions of families who rely on it.

Thus, eliminating the income or sales tax deduction would likely lead over time to cuts in state funding for schools, healthcare, and other services on which middle - and lower - income families rely.

«While the full SALT income tax deduction for individuals is repealed, full deductibility will remain in effect for corporations and other business entities, thereby protecting taxpayers in states like Texas which rely more heavily on corporate taxes,» Faso said.

Mapping the human connectome will rely on a descriptive rather than empirical approach to research, revitalizing classic debates of the value of induction versus deduction in the sciences.

Unlike tax deductions, which require you to add up your expenses and see whether it pays to itemize your deductions or simply take the standard deduction, tax exemptions are based on preset numbers and don't rely on heavy math.

Other income - smoothing strategies, such as investing in flow - through shares and the timing of capital gains, are more complicated, but they all rely on the same basic idea of smoothing your income and deductions to reduce the total amount of tax you have to pay.

Both Louis and Mary have relied on work pensions for most of their retirement savings because large pension deductions from their paycheques have reduced their funds for private investment in RRSPs or anything else, for that matter.

However, they were quick to note that for young people who don't have savings, rely on a Federal Housing Administration insured loan, don't itemize their tax deductions, and only stay in their home for 5 years, renting is cheaper than buying in 27 of the 100 largest metropolitan cities.

Other industrialized countries rely primarily on individual taxation but often allow for family tax principles such as the transferability of deductions and credits or joint filing or splitting of income of some sort.

The 2015 Liberal election platform had a proposal to limit the benefits of the 50 % employee stock option deduction by placing a cap of $ 100,000 on annual eligible stock option gains but this was dropped after intense lobbying by startups in the tech and resource industry who rely heavily on non-cash compensation such as stock options to attract much needed, specialized talent to their firms.

Individuals rely on a number of these, such as the itemized deductions for state and local sales tax and private mortgage insurance (PMI).

Things only get messy if you rely heavily on freelance income, write off part of your home as an office, or have plenty of deductions that you want to claim.

Many people never take the time to learn about itemized tax deductions because they rely on the standard deduction every year.

Relying heavily on patience, observation and deduction, it wasn't for every kid back in 1989, but it was massive for those players who connected with its particular rhythms.

The more fundamental a physical Law is, the less we are able to prove it, the more the law relies on consistent observation instead of deduction or derivation.

If an employee wants to bring a claim for under payment, they can rely on a series of deductions, but if it only applies to Euro Leave, when is a «series» broken in any one holiday year?

In coming to that conclusion, Justice Cromwell relied on the «private insurance exception,» which essentially provides that where an employee purchases his own insurance, the proceeds of that insurance plan can not be used as a deduction by a wrongdoer who does harm to that individual.

ICBC, relying on s. 106 of the Insurance (Vehicle) Regulation, asserted that the past income loss was subject to a deduction for the sick bank benefits received by the plaintiff.

The tax plan that Ryan and other House Republicans support relies on killing the interest deduction to help pay for corporate and income tax cuts.

The new plan will, in many cases, make it more financially viable for tax filers to take advantage of the increased standard deduction rather than relying on itemized deductions like mortgage interest.