tax

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Related to Tax brackets: head of household, Tax deductions

tax

Vox populi Monies paid to a governing body. See Dean's tax, Fat tax, Provider tax, Sin tax.

tax,

n a ratable portion of the proceeds or value of the property and labor of the citizen; any contribution imposed by government for the use and service of the state.
tax brackets,
n.pl the income intervals of the graduated income tax law that establish the rate of tax for each level of income.
Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA),
n.pr legislation (Public Law 97-248) affecting health maintenance organizations and the Medicare and Medicaid programs. Provides regulations for the development of HMO risk contracting with the Medicare program and, through an amendment, establishes new provisions for the foundation and operation of peer review organizations.
tax planning,
n making business and investment decisions based on estimated income and current and projected tax laws.
tax shelter investments,
n.pl investments that reduce, remove, or defer income from state and federal income tax liability.
References in periodicals archive ?
If I believe I will be in the 15 percent marginal tax bracket in retirement and I have $18,000 to save in 2015,1 may want to save my first $12,550 in a tax-deferred account like a 401(k) that avoids current income tax and the remaining $5,450 in tax-free account (Roth) that I pay tax on now, but will grow tax free.
Because estates and trusts operate as conduits, substantial tax savings may result from distributing the income, including net investment income, to a beneficiary who is in a lower tax bracket.
50 less income taxes in 2013 than they will on the same income for 2012 because of indexing of their tax bracket for 2013.
When with drawing monies during retirement, to the extent that the client can access funds that are tax-free or tax-advantaged, he or she may be able to prevent moving into a higher marginal tax bracket and thus minimize overall taxes.
The best you can hope for under the new law is that your tax bracket will stay the same, although you'll still end up paying more in consumption taxes (like the sur-charge on gas).
5 percent (SIT) or 30 percent (GIT) tax rate instead of the current eight tax brackets allowed.
For example, a $1,000 NOL that offsets income at the highest tax bracket in 2001 (39.
Under the Senate's bill, the standard deduction for married couples would be brought up to the amount that singles pay, and the bottom two tax brackets would be expanded to include more couples.
Because most college students are in the zero or 15% income tax brackets, this results in substantial tax savings.
Deferring income, too, may be attractive for the next several years, given the combination of higher rates and more tax brackets enacted in the Tax Act of 1993," adds Mansfield.
the upper two tax brackets, and 5% for the lower tax brackets.
Also, a "proper" defective grantor trust would be advantageous if the grantor is in a lower income tax bracket than the beneficiary or beneficiaries or if income would be accumulated by the trust and subjected to the trust's highly compressed income tax brackets.