Sentence examples for amount of deductions from inspiring English sources

Mitt Romney himself proposed an efficient and effective approach: just limit the total amount of deductions.

Another policy change that has some support from both parties is a plan to limit the total amount of deductions.

Currently, there is no cap on the total amount of deductions a taxpayer can claim for items like mortgage interest, charitable deductions and state and local taxes.

He suggested on Monday that one way to increase revenue would be to cap the total amount of deductions any taxpayer could claim.

The slip, which would become part of the public record, would disclose a person's or corporation's name, address, gross income, amount of deductions, net income and tax liability.

That number ripples through returns, often resulting in higher taxes by limiting the amount of deductions that may be taken, or causing a greater amount of Social Security to be taxable because adjusted gross income is now higher.

The amount of deduction was fixed at $1,000 for each dependent attending a tuition-charging nonpublic school.

Under the New York law, the amount of deduction was not dependent upon the amount actually paid for tuition, but was a predetermined amount which depended on the tax bracket of each taxpayer.

In that sense, what it would do is it would equalise - when I give $100, I'd get the same amount of deduction as when some - a bus driver, who's making $50,000 a year, or $40,000 a year gives that same $100.

This way, in the year you file your giving deduction, the aggregate amount of itemized deductions exceeds the allowable standard deduction, $12,000 for single filers and $24,000 for married taxpayers filing joint income tax returns.

If the Pease limitations apply, the total of your itemized deductions is reduced by the lesser of 3% of AGI above the threshold or 80% of the amount of itemized deductions otherwise allowable.