Sentences with phrase «remain as a deductible»

Not exact matches

Initially the thought was that Home Equity Lines of Credit would no longer be deductible but the IRS recently issued guidance that as long as the line is used to buy, build or improve your home it remains deductible.

An overcontribution is not deductible from income in the current year, but the advantage lies in the fact that you can put additional cash into your RRSP where it can compound on a tax - deferred basis for as long as it remains in the plan.

Losses within your Roth IRA are not deductible as long as the account remains open.

To the extent that health insurance premiums are covered by a premium assistance tax credit, they are not deductible as medical expenses; however, any remaining premiums actually paid out of pocket are eligible to be deducted (albeit subject to the 10 % - of - AGI floor for such deductions).

Under the new tax law, all mortgage interest on a loan under the $ 750,000 loan amount cap that is categorized as acquisition indebtedness — i.e. the funds were used to buy, build, or improve your home — remains tax deductible.

And because the measure maintains the deductible status of compensatory damages, nearly all punitive damages will remain, as a practical matter, deductible.

By choosing a $ 1500 deductible, rather than a $ 200 deductible, you can save a small fortune each year, as long as you remain claim and accident - free on the roads.

Any remaining costs or out of pocket expenses, such as deductibles and co-payments can then be claimed under the secondary emergency medical & dental benefit.

The secondary emergency medical & dental benefit can offset the remaining costs such as a deductible or co-pay.

If your deductible is $ 2,000 and the cost to repair the damage is $ 2,100, you'll pay $ 2,000 and your insurance company will cover the remaining $ 100 (Side note: In a case such as this, you may be better off not filing a claim on your insurance, which could increase your premiums, but paying out - of - pocket instead.)

The deductible is the amount of money that you agree to pay as part of a claim, before your insurer pays the remaining amount towards that claim.

As you may know, you'll have to pay out of pocket for most or all of your medical expenses until your deductible for the year is met — after that, your insurance will usually cover much of your remaining costs.