Sentences with phrase «tax sting»

To avoid the tax sting, consider holding your flipping properties in an entirely separate entity.

One strategy to reduce the tax sting is to put some of your take - home pay into tax - free retirement vehicles.

You also can stretch a conversion to a Roth IRA over several years, which can minimize the tax sting and can help ensure the switch doesn't push you into a higher tax bracket in any given year.

Not exact matches

«Private equity gets stung»: That's how one tax lawyer describes how Paul Ryan's tax plan will affect the buyout industry.

Whether the check you wrote was just a light sting, or created a scary hole in your savings account, there is some reason to look forward to Tax Day.

For founders in Manhattan, specifically, the sting is even greater, as New York City residents are obligated to pay city income taxes on top of their already sky - high state income tax rates.

Notably, U.S. lawmakers are poking the same hornet's nest that Canada's Liberals got stung by this year, taking on sole - proprietorships and similar corporate structures that can help individuals lower their tax bills.

Graham feels connected to her Victoria community, which is why the proposed speculation tax really stings: «I'm being treated the same as somebody who is not a Canadian, never comes to the community and just leaves the place vacant.»

Aiming to execute a conversion in a year when you have more deductions or lower earnings can minimize the sting of paying taxes on your Traditional IRA savings.

And the situation will be even worse, the governor has warned, if the tax reform plan currently under negotiation on Capitol Hill eradicates New Yorkers» long - standing ability to deduct their state and local taxes, helping to take the sting out of the fact that they live in the state with the nation's highest property tax burden.

Georgia lawmakers approved a bill that stripped out a tax break proposal highly coveted by Delta Air Lines — the most stinging punishment that America's pro-gun forces have leveled so far on one of the many corporations recalibrating their positions on firearms after the Florida high school massacre.

At the time, this was largely seen as a favor to business groups who felt stung by Cuomo's tax policy and hoped it would be a way to get their voices heard on changes they liked.

The Cuomo administration has been stung by criticism that the tax commission plan did not do enough for New York City.

Residents in high - tax states like ours are stung harder by cap on state / local tax deduction.

Shadow chancellor George Osborne said there was a growing revolt within Labour over tax and the committee's report was the latest «stinging attack» on Mr Brown.

Cormier doesn't do any damage from this position initially however, he forces Johnson to carry his weight knowing this will tax Rumble's gas tank and take some sting out of his explosive power.

The downside is that typically hybrids and EVs are more expensive, although recently incentives as well as tax breaks on EVs may take some of the sting out of the higher sticker prices.

With several states already feeling the sting of losing its affiliates» status with Amazon over a desire to enforce what the online retailer claims to be an illegal sales tax law, California was given ample fair warning about what would occur if the governor signed into law a bill that, among other things, would require Amazon to collect sales tax from its customers in that state.

As my wife and I have no children, it stings for our property tax to be so high while our property value is low.

IF YOU OWN A STOCK in a taxable account that falls in value, you can take some of the sting out of that loss by selling your shares, realizing a capital loss and then using that loss to reduce your annual tax bill.

Aiming to execute a conversion in a year when you have more deductions or lower earnings can minimize the sting of paying taxes on your Traditional IRA savings.

To reduce a bit of that sting, be sure to claim the first - time home buyers» tax credit in the year you acquire your house.

That can significantly lower your tax bill and take some of the sting out of a poor investment decision.

Plus not all home buyers need a mortgage, and the mortgage interest tax deduction takes at least some of the sting out of that interest payment.

To make paying up sting a little less, JetBlue is giving away 1,000 free flights to tax payers who owe money on their returns this year.

And as little fun as paying taxes is, getting 5X points for paying them can mitigate some of the sting.

The simple truth is that renewable energy costs more, and that hurts the poor, who are doubly stung as their tax dollars are given as subsidies to wealthy speculators (like Warren Buffett, who chortled that the subsidies are the reason he makes money from wind).

For example, a casual perusal of the online legal research service Westlaw reveals that «mumbo jumbo» appears at least 251 times in judicial opinions.8 «Jibber - jabber» shows up just seven times (although surprisingly used by parties, rather than in statements from the court), while the more prosaic «gobbledygook» has 126 hits in the legal database.9 Believed to have been coined in 1944 by U.S. Rep. Maury Maverick of Texas, «gobbledygook» has been used by everyone from political figures referring to bureaucratic doublespeak (for example, President Ronald Reagan's stinging 1985 indictment of tax law revisions as «cluttered with gobbledygook and loopholes designed for those with the power and influence to have high - priced legal and tax advisers») to judges decrying the indecipherable arguments and pleadings of the lawyers practicing before them.

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It will not tax the digital asset as a form of payment, miner rewards escape the sting as well, and even some exchanges will receive exemptions.

Taxes could start applying to all purchases (depending on your location) though, which would sting.