Sentences with phrase «significant than income taxes»

Not exact matches

States tend to allow fewer deductions and credits than the federal government does, but especially in states with state - level Earned Income Tax Credits, eliminating deductions and credits outright (perhaps except for a standard exemption, but even that could be hard to implement) would be a significant change, and potentially a tax hike on poor familiTax Credits, eliminating deductions and credits outright (perhaps except for a standard exemption, but even that could be hard to implement) would be a significant change, and potentially a tax hike on poor familitax hike on poor families.

This will tend to understate the performance of the taxable account in circumstances where long - term capital gains and qualified dividends, which are currently taxed at lower rates than ordinary income, are a component of investment returns, as is the case for investments with significant equity holdings.

In his straddle over the political center, Mr. Cuomo proposes to balance the minimum wage increase with a significant — indeed, almost startling — cut in corporate tax rates for businesses that employ fewer than 100 workers and have a net annual income of less than $ 390,000.

Ordinary residence status is often far more significant than domicile when it comes to detrmining tax status - as domicile status only helps shelter passive income which arises overseas, while not being ordinarily resident allows the person concerned to allocate their income between UK and non UK duties.

It said the project would produce $ 115 million in business, and that the state would receive more than $ 1 million in rental income and «significant» revenue from fuel taxes and fees.

If he and his spouse have significant income, e.g. $ 30,000, then he will likely pay more than $ 20,000 in tax.

Medical expenses can grow to become a significant liability for an individual; the IRS allows tax filers to deduct non-reimbursed medical expenses if they are higher than 7.5 percent your annual income.

For those who are interested in the impact of dividend income and capital gains on taxes, which is much more significant, complicated and divergent than I had imagined, I recommend reading Master your retirement: how to fulfill your dreams with peace of mind.

At the other end of the spectrum, a high - income earner may see significant Old Age Security clawbacks from RRIF withdrawals, but would still be better off with an RRSP because that would be more than offset by the greater tax savings when contributions are made.

the spouse derives a significant portion of income from dividends, capital gains or other sources that are taxed at a lower rate than employment or business income or that are exempt from tax; and

The tax burden of maintaining US citizenship may be smaller than he thinks (and with the wife retaining her US citizenship, the cost of ensuring that she is insulated from his income so she isn't taxed on it may be significant).

The study found evidence of family and friends carers households in London suffering significant poverty: 23 % of family and friends carers in London were claiming income support compared to 5 % of London's adult population; they were more likely to be managing on a very low household income of under # 200 a week after tax than family and friends carers in other regions.

Buckley explained why he's worried: When Camp proposes a significant increase in the IRS» standard deduction combined with the repeal of deductions for state and local income taxes, he would be putting a large majority of the population in the position where it's more beneficial to choose the standard deduction, rather than itemizing their tax deductions.

They have a lower median income than younger sellers, but when they sell, their homes net more cash — a median of $ 211,800 — which can have significant tax and estate - planning consequences.

Buckley explained why he's worried: When Camp proposes a significant increase in the standard deduction combined with the repeal of deductions for state and local income taxes, he would be putting a large majority of the population in the position where it's more beneficial to choose the standard deduction, rather than itemizing their tax deductions.