To convert, you declare the entire balance in the IRA as taxable income and pay tax on it.
Simply stated, people respond to incentives, and this means taxable income falls as tax rates increase.
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They concoct a strategy to strip their taxable income to the lowest legal levels.
The remaining taxable income could be taxed at lower rates than are currently in effect.
It's hard to determine how much otherwise taxable income disappeared through tax shelters in the 1950s.
If you cancel a contract and no money changes hands, do you have taxable income?
The increase in the standard deduction decreases your taxable income, meaning you pay less in taxes.
We owe the IRS and state tax authorities full reporting of our taxable income.
The reduction in debt--40 cents on the dollar--would have been treated as taxable income.
As it now stands, only companies with taxable income can make use of the credit.
If you get a Gift Bag, you have taxable income equal to its value.
Child support is neither a deductible expense for your husband, nor taxable income for you.
Your deduction is limited to taxable income from any of your active trades or businesses.
Stop buying assets that throw off taxable income, like junk bonds and shares of Verizon.
It will not affect your taxable income for the calendar and tax year 2011.
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First of all, lowering your taxable income could make you eligible for additional credits and deductions.
If we look at taxable income, then Romney would donate 8.9% of his income in 2010.
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As a credit, it reduces your tax bill directly, as opposed to your taxable income.
In the U.S., Target has earned points for giving 5% of its federally taxable income to support community issues.
Expiration of the 10 percent tax bracket will raise taxes on everyone with taxable income.
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Sometimes the divisor is taxable income and sometimes it is gross or adjusted gross income.
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However, you can deduct the cost of legal services related to producing or collecting taxable income.
Under current law, for example, an IRA's capital gain is treated as regular, taxable income when withdrawn.
Your savings income (except for ISA income) would have to be declared as this is taxable income.
My company pays a federal tax of up to 35 cents on a dollar of taxable income.
In the eyes of the IRS, any accretion to wealth represents taxable income, barring some statutory exception.
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This means teaching folks on the left that tax policy affects incentives to earn and report taxable income.
To minimize your taxable income and maximize your Roth conversions, plan to defer Social Security, Mr. Baldwin says.
Any balance not paid off after 25 years is forgiven, though the IRS will consider this taxable income.
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Now, a worsening recession means there will be less taxable income for governments to fund ever growing entitlements.
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