Sentences with phrase «tax advantage if»

And that could provide you with a significant tax advantage if you also have short - term capital gains.

You can get better tax rates and other tax advantages if you qualify to file as Head of Household or Qualifying Widow (er).

Long - term care insurance can have some tax advantages if you itemize deductions, especially as you get older.

If you're a Director leaving your organisation and have been offered outplacement support as part of your settlement agreement, please call us to discuss this, as there may be tax advantages if this is included as part of your agreement.

I don't really see the advantage of the IRRRL (which I've used) in your situation vs. living in it for a year (or two for tax advantages if you sell within five years of purchase).

Not exact matches

The government did pledge $ 47 billion to infrastructure spending over the next 10 years and extended the accelerated capital cost allowance for manufactures — a tax relief program for investments in new machinery and equipment — by two years, which means stock holders could get a boost if public companies are able to take advantage of this spending and savings.

The summer started with a reasonable (if clumsy) attempt by the government to stop incorporated individuals from taking advantage of the lower small - business tax rate, and ended with people such as Arlene Dickinson, the investor and Dragon's Den star, talking about an assault on entrepreneurship.

If you're a high earner, you may have the ability to save a lot of money but not know the right way to prioritize things and take advantage of the various tax breaks available to you.

You'll need to be a Toasty Points loyalty app member, but if you join specifically to take advantage of this Tax Day deal, you'll also get a free 4 - inch sub once you download the app.

And thanks to a $ 7,500 tax credit from the federal government for green vehicles, and the IRS» mileage deduction, Turner expects the CitEcar to pay for itself within three years and then actually start making money if he takes advantage of the mileage write - off.

These accounts offer triple tax advantages and could help you cover medical expenses in retirement if you use them as investments.

If a taxpayer decides to take advantage of air - dropped or forked tokens then it may be reasonable to expect that tax will be due when they sell or otherwise dispose of those tokens,» he says.

If these proposed tax measures are successful, small businesses will retain their advantages for active business investment by active mom - and - pop operations, but no longer deliver special advantages to others using the small business tax regime as a tax planning loophole.

If that happens, the corporate tax advantage will shift, costing Canada both tax revenue and corporate investment.

The advantage: if your child, not you, owns the investment and receives the income, you might be able to save as much as 25 % of the tax bite you would otherwise incur.

If you expect to be moving into a higher tax bracket soon, you should still make your RRSP contribution to take advantage of tax - free compounding, Golombek says.

On the other hand, if you do max out your IRA, it could boost your retirement savings and offer you tax advantages in the form of a deduction now or tax - free withdrawals later.

Giving with a DAF has more tax advantages than if you sold securities or assets and then donated the proceeds to charity.

If you live in a state with a high state income tax, like New York or California, this can be a big advantage.

If you anticipate in 2018 you will be in a relatively low tax bracket, and you determine that in the long run Roth accounts are to your advantage, make a conversion before year - end.

Given the tax advantages, the ease of use and the possibility of those additional matching funds, if your employer does offer a 401 (k), you should definitely consider taking advantage of it.

I also believe that the likelihood of even lower taxes in the future is very low — so a Roth may be the be the best opportunity to take advantage of the current low tax environment if you adhere to the old adage of choosing a Roth if you believe future taxes will be higher.

You can snag some great deals by taking advantage of credit card rewards, other loyalty programs, and deducting your trip from your taxes if your travel is for business purposes.

But once a new tax law comes into effect you need to see if it applies to you and if you can take advantage of it.

So to take advantage of the SEP - IRA, one must increase their salary to $ 212,000, paying additional payroll taxes than if one were to keep a lower salary and pay higher distributions.

A variable annuity may provide you with the tax advantages, savings, and income options that are a good fit if you're:

Another advantage to these accounts is that you can use them to save on taxes if you're over the age of 71 but your spouse is not — or even to save tax on your estate after death.

Canada's relative openness to immigrants is also an advantage: lower taxes in Texas or California are of little use to an Asian engineer if he or she can't obtain a work visa.

We have had a successful year on the investing market, so if an individual makes contributions to their TFSA and has a portfolio with a higher return of 20 per cent or 25 per cent, it makes sense to keep that because the advantage is no tax being paid in the TFSA.

Plus, if you're an American, you can take advantage of the Foreign Earned Income Exclusion Act and receive up to $ 104,100 annually in tax - free income.

If you have a taxable account, your bond allocations will take advantage of tax - exempt municipal bonds.

Tax loss harvesting is still a good option if you like your fund — and can be even more of an advantage!

People whose 401k accounts include appreciated employer stock should consider meeting with a tax professional to see if they can take advantage of the «net unrealized appreciation» rules, said Piper.

In fact, if you have non-registered investment a strong argument can be made that you should have NO Canadian content in your RRSP: You should hold it all outside the RRSP, in the non-registered account, where it's tax advantages accrue.

If you withdraw all the money, you'll lose the retirement savings advantages and face a large tax bill.

You can always take out more than the RMD amount if you need to; however, it's usually advisable to leave the assets you don't immediately need in the Inherited IRA, to take advantage of as much tax - deferred growth as possible.

If you are not a resident of Massachusetts, you should consider whether your home state offers its residents or taxpayers state tax advantages or benefits for investing in its qualified ABLE program before making an investment in the Attainable Savings Plan.

If you're itemizing deductions, instead of taking the standard deduction, you want to take advantage of other tax deductions, too.

This may be a good choice if you want to take advantage of tax savings now.

Then, see if you can plan your finances in a way that allows you to take advantage of income reductions and items that directly reduce the taxes you owe.

The advantage of an inherited IRA is that you won't pay the 10 percent early withdrawal penalty even if you're under age 59 1/2 (but you will pay taxes on the distributions).

If you're looking for a stable, predictable investment that offers some tax advantages, annuities generally fit the bill.

What to make of tax advantages of VT vs VWRL if resident in the UK?

A 401 (k) is an excellent way to invest your money, especially if you're looking for a tax advantage with your retirement savings.

But given that the tax bill severely curtails the state and local deduction for most if not all individuals, many more taxpayers could take advantage of state - level initiatives that essentially reclassify state and local tax payments as federal charitable contributions.

If you can, take advantage of a little - known tax break and front load your 529 plan to maximize the effect of compounding.

The other upside for large businesses is their access to additional lines of credit if the tax cuts don't work out to their advantage.

If your goal is to seek an overall tax advantage: Consider an investment - grade municipal bond fund with income that is usually exempt from federal income tax.4

If you are self - employed, you can also take advantage of the tax - free compounding offered by retirement accounts.

If you're caring for a dependent child or another relative who is dependent on you, you may be able to take advantage of some tax breaks.