Sentences with phrase «than the income threshold»

In other words, you owe the 3.8 % tax on the amount by which your investment income exceeds the income thresholds, or, if your wages alone already are higher than the income thresholds, you'll owe tax on the lesser of net investment income or MAGI that exceeds the thresholds.

Not exact matches

Admittedly, it takes a rather mundane $ 135,055 of individual annual income to make it into the top federal tax bracket in Canada, as opposed to more than US$ 400,000 in the U.S. Taxpayers who fall below that U.S. threshold are, generally speaking, better off south of the border.

If your home sells for more than you paid for it — your tax or cost basis — that extra money can be considered taxable income at capital gains rates subject to certain thresholds and rules.

The result: If your taxable income falls below the threshold, selling stocks held longer than a year could be a tax - efficient way to generate cash flow.

Follow the same steps outlined in Strategy # 2, with one exception: You'll target the income thresholds that determine whether your Social Security benefits are taxable, rather than income levels associated with a tax bracket.

Tax filers who qualified for less than $ 300 of the full basic credit ($ 600 for joint filers) could get $ 300 ($ 600 for joint filers) if they had either (1) at least $ 3,000 in earnings, Social Security benefits, and veteran's payments or (2) net income tax liability of at least $ 1 and gross income above specified thresholds.

To limit volatility within a pre-determined threshold, the fund can shift to fixed income and cash, favoring the fixed income component due to its greater negative correlation to equity and higher yields than cash.

Schedule your Knee Replacement for 2018: If you itemize, the new law allows you to deduct qualified medical and dental expenses that exceed 7.5 percent of your adjusted gross income (AGI)-- that's a lower threshold than the previous 10 percent (the level returns to 10 percent beginning January 1, 2019.)

If you're married, filing jointly, and your combined wages will exceed the $ 250,000 income threshold for couples, you'll want to make sure that your joint Medicare surtax for the year isn't significantly higher than you anticipated.

See if there is a way to spread gains and income over more than one tax year to avoid crossing the Medicare Part B threshold in any one year.

Best for: People 63 or older who anticipate realizing capital gains or perhaps an installment sale (from the sale of a business for example) who could spread the realization of income out over more than one tax year to stay under the Medicare Part B threshold.

The limitation on itemized deductions (sometimes called «Pease» after the Ohio congressman who proposed it) reduces deductions for high - income taxpayers by 3 percent of the amount by which their AGI exceeds a threshold — $ 261,500 in 2017 ($ 287,650 for heads of household, $ 313,800 for married couples filing jointly, and half of that for married couples filing separately)-- but not by more than 80 percent of deductions claimed.

Many people estimate that the actual threshold for poverty is far higher than this income line used by the Census Bureau, and poverty is on the rise in the present recessionary economy.

My understanding is that Medicaid covers a higher income threshold for pregnancy than it usually does.

As I pointed out many months ago, any such tax should really be set at about 2 % of capital value with a much lower threshold than # 2m in order for it to be consistent with Council Tax and current income tax rates.

Happy to agree that the national insurance threshold should be a greater priority than increasing the personal allowance for income tax further.

-LSB-...] Graham's comments over at the Social Liberal Forum were typical: «The fact that raising the tax threshold helps people on higher incomes more than -LSB-...]

«Additionally, this report shows that more than 7 in 10 Medicaid recipients have some form of outside income, usually a low - paying or minimum - wage job that still isn't enough to lift them over the poverty threshold.

Deputy Prime Minister Nick Clegg told the Resolution Foundation today that Liberal Democrats will seek to aid those on low and middle incomes by raising the personal income tax threshold further and faster than previously assumed.

Anyone with less than $ threshold of assets and income qualifies, with one caveat: if you're an unemployed able - bodied adult (not disabled, child or senior), you must qualify also for «able - bodied adults between 16 and 60 must register for work, accept suitable employment, and take part in an employment and training program to which they are referred by the local office».

And it is being used to hand the rich a # 523 - a-year tax cut by raising the threshold for higher rate income tax by more than # 2,500.

A # 25 billion pot could mean we could raise the income tax threshold to # 10,000 immediately, introduce a tax break for married couples (which is more pro-poor than the threshold change), accelerate Osborne's cuts in corporation tax, lower national insurance and end the counter-productive 50p tax band.

This, rather than a further increase in the income tax threshold, should be the priority.

The lack of tax relief affects those who earn over the # 10,000 needed to trigger auto - enrolment, but below (or not very much above) the income tax threshold (currently # 11,500 and set to rise to # 11,850), who are enrolled in a «net - pay» pension scheme rather than a «relief at source» scheme.1

The Institute for Fiscal Studies has shown how Lib Dem insistence on raising income tax thresholds has helped the better off far more than low earners who don't pay much, if any, tax.

The Tories have been more than happy to go along with the former, raising the income tax threshold as promised in the Coalition Agreement.

Analysis by the charity Care and the Centre for Social Justice has shown that a transferable tax allowance is more pro-poor than the Coalition's flagship tax policy of raising the starting threshold for paying income tax.

The party's treasury spokesman insisted that people with a low income who lived in a home worth more than the threshold would be better off as a result of other proposed changes in the tax system.

The proposal expands the eligibility of a small business to include any business that files under PIT regardless of how the business is structured; raises the income eligibility threshold from $ 250,000 to $ 500,000 when the business entity income is less than $ 1.5 million; eliminates the employee requirement; increases the exemption from 5 percent to 15 percent for small business income and from 5 percent to 20 percent for farm income; increases the corporate tax threshold from $ 390,000 to $ 500,000; and reduces the corporate business income rate for small businesses from 6.5 percent to 2.5 percent over two years.

There will also be a «substantial increase» in personal tax allowances for lower and middle - income people from April 2011 - rather than the Conservative plan to raise employees» NI thresholds

Low - income families are defined as those with incomes less than two times the Federal Poverty Threshold (about $ 47,000 for a family of four with two children) and poor families are defined as those with incomes below the threshold (about $ 24,000 for a family of four with two cThreshold (about $ 47,000 for a family of four with two children) and poor families are defined as those with incomes below the threshold (about $ 24,000 for a family of four with two cthreshold (about $ 24,000 for a family of four with two children).

Approximately 32 percent had an annual family income of $ 35,000 to $ 50,000, and more than one quarter were below the poverty threshold.

If I earned more than A$ 200,000 (which I do not), I would immediately find an accountant to ensure that my taxable income never exceeded the threshold.

Families with earnings less than twice the poverty threshold are considered low income and include poor families (i.e., $ 48,072 for a family of four with two children in 2015).

That means a district in which blacks and whites have similar poverty rates will be subject to the same threshold as one (in the same state) in which blacks have much lower income than whites.

Most tracts had 80 percent or more African American residents, and more than 40 percent of the residents had incomes at or below the poverty threshold.

Scholarship recipients in Florida must earn less than 185 % of the federal poverty line, which is the income threshold for the federal government's free and reduced lunch program.

[16] The income eligibility thresholds for free and reduced - price lunches are higher than the poverty levels used in the standard allocation formulas to states and LEAs: 130 percent of the poverty line for free lunches (or $ 31,525 annually for a family of four for the 2015 - 16 school year) and 185 percent of the poverty line for reduced - price lunches (or $ 44,863 annually for a family of four for the 2015 - 16 school year).

Additionally, HUSKY A has been a consistently similar indicator of student poverty to FRPL over the past 10 years and has a slightly higher income threshold than FRPL and a considerably higher income threshold than most other federal programs already included in direct certification.

But others use different calculations that often have higher income thresholds than the federal rules.

Your child will need to file their own 2017 return if either unearned income exceeds the $ 1,050 threshold or earned income exceeds the $ 6,350 threshold, or if the total of unearned and earned income is more than the larger of $ 1,050 or the child's earned income (up to $ 6,000) plus $ 350.

If they are certain their total income from all sources will be more than the tax - free threshold they can only claim the tax - free threshold from one payer at a time.

The IRS was no help here either, creating rules against companies that overfunded plans (by more than a low threshold), because too much income was getting sheltered from taxation.

Next, if you have income higher than the surplus income threshold set by the government, you also will have to pay a surplus amount depending on how much you make.

If your income is more than the set minimum threshold, it's likely you'll be prompted to take a higher amount than you have applied for.

For example, in order to qualify for the Earned Income Tax Credit, the IRS requires that you have earned income under a certain income threshold, and that your investment income be no more than $ Income Tax Credit, the IRS requires that you have earned income under a certain income threshold, and that your investment income be no more than $ income under a certain income threshold, and that your investment income be no more than $ income threshold, and that your investment income be no more than $ income be no more than $ 3,200.

Taxpayers may qualify for the earned income credit if their adjusted gross income annually is less than the maximum threshold allowance.

If your income exceeds the threshold by more than $ 122,500 ($ 61,250 if married filing separately), your exemptions are completely eliminated.

In 2017, the Part B standard monthly premium is $ 134.00, $ 12.20 higher than the 2016 amount.4 There are also income - related premium surcharges for Part B beneficiaries whose modified adjusted gross income exceeds a specified threshold.

That is the greater of the above two equations but less than the 20 % they could claim if their income were under the $ 315,000 threshold.