Sentences with phrase «so high income earners»

He said a fourth tax bracket would be added to the plan «so that high income earners do not see a big rate cut, and that those resources go to the middle class.»

Not exact matches

There is no indication in the budget how these numbers are estimated, so I spoke to government officials, who indicated that these are «straight - line» estimates and do not take into account possible behavioural responses by these high income earners.

So for the higher earners, if they are careful with their money, they could easily spend more 10 % of their income.

So, whether you are a heavy spender, high income earner or low income earner, you will find card products that will meet your needs.

One would hardly realize that the problem facing U.S. industrial employment is that wage earners must earn enough to pay for the most expensive housing in the world (the FDIC is trying to limit mortgages to absorb just 32 per cent of the borrower's budget), the most expensive medical care and Social Security in the world (12.4 per cent FICA withholding), high personal debt levels owed to banks and rapacious credit - card companies (about 15 per cent) and a tax shift off property and the higher wealth brackets onto labor income and consumer goods (another 15 per cent or so).

The federal government also announced it would raise the salary cap so that higher - income earners would also contribute and receive more CPP.

Expiration of the so - called «millionaires» tax rate and bracket in 2020 will significantly mitigate the impact of the SALT deduction cap for high income earners.

Skelos conceded that high - income earners — couples who make $ 2 million a year and individuals who make $ 1 million — will see less of a tax reduction under this new structure than they would have had the so - called millioniare's tax been allowed to sunset at the end of the month as scheduled.

For instance, Skelos and Cuomo declared the state's so - called «millionaires» tax» dead in April 2011, only to reverse themselves and enact a new tax on high - income earners seven months later.

Labour's flagship tax measure is to hit the highest earners with an income tax rise, so as to protect everyone else.

But since that time, the state's financial condition has worsened, and many of Mr. Cuomo's fellow Democrats, reinforced by the Occupy Wall Street movement, have urged him to reconsider his decision to allow an income tax surcharge on high earners, a so - called millionaires» tax, to lapse this month.

«On the other hand, it should be noted that New York City is the primary source of surplus state revenues — largely generated by the income tax on high earners (the so - called «millionaires» tax»)- but New York City residents do not directly benefit from the commission's proposed use of $ 1 billion of this surplus for property tax reductions for suburban and upstate New Yorkers.

Absent from the plan are extensions of state rent regulations and the so - called «Millionaire's Tax» on high - income earners — which many activists and city lawmakers had fought hard to include.

Assembly Speaker Sheldon Silver, who made significant compromises, including giving up the so - called «Millionaires» Tax» on high - income earners, described the budget as «a sobering one.»

However, there are income limits to these education tax credits, so the tuition and fees deduction provided some relief to high earner tax payers.

Below, we've taken into account several different kinds of household scenarios: so whether you're a low -, middle - or high - income earner, and whether you're single, married or have kids, you should be able to see where you fit in.

Another potential reason to limit is the legal HCE limit (HCE = Highly Compensated Employee)- companies with broad income spreads might have the problem that the higher earners save a lot (because they can or because they are better educated about it), and the distribution becomes so uneven that the HCE laws get them in trouble.

When some part of parental benefits are reserved for the so - called primary worker or for both parents in a dual - income situation where there is roughly equal earning levels, then the second parent, the so - called primary earner, is going to get parental leave at a higher income replacement rate.

So in Canada, we have attribution rules that try to force you to pay the tax rate of the higher - income earner, even if he or she gives the money to lower - income earners in the family.

So the deduction gets phased out for high income earners.

There's no income limit on eligibility so it's a great way for high - income earners to get access to a Roth account.

So if you're a high income earner who's never taken the opportunity to make a Roth IRA contribution, take advantage!

I think part of why the government is so eager to crank minimum wage isn't only socialist ideology and desire to buy votes, it also pushes more Canadian wages into a taxable range, or even higher tax brackets, and low - income earners are unlikely to use tax - avoidance strategies (which means guaranteed additional income for the government.)

The federal government also announced it would raise the salary cap so that higher - income earners would also contribute and receive more CPP.

So, if you are a high - income earner, a bankruptcy will cost more than if you're a low - income earner.»

When you're single, you go through the tax brackets very quickly, but when you get married and file a joint return, those lower brackets double so so much more of that higher income earner's income is going into those lower brackets; you can save potentially thousands.

As a high income earner, you've probably already met my not - so - good friend Mr. Alternative Minimum Tax.

Meanwhile, many 529 plans sport generous contribution limits of up to $ 400,000 over a lifetime, and they have no income limits for contributors, either, so high earners are not locked out of taking advantage of them.

In general, those earning a low income (under $ 35,000 or so) should favour the TFSA, while high - income earners are likely to be better off with an RRSP.

In cases involving high - income earners, expenses that may not be considered reasonable for many people may, in context, be reasonable, so long as the award does not enter the realm of wealth transfer rather than support: Francis v. Baker, [1999] 3 S.C.R. 250; Sirdevan v. Sirdevan, 2010 ONSC 2375.

Average income values can skew higher due to a handful of extremely high earners, so the median value often more accurately reflects the income of the majority of respondents.

«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.»