Sentence examples for deduction into from inspiring English sources

We could also turn the mortgage interest deduction into a flat 15 percent tax credit and cut the maximum deductible mortgage to $500,000, which would help many homeowners who do not itemize deductions, while curtailing subsidies for high-income people who don't need help.

A bill introduced by Representative Keith Ellison, Democrat of Minnesota, would turn the mortgage interest tax deduction into a tax credit aimed primarily at low- and middle-income homeowners.

The Congressional Budget Office in 2008 proposed changes that would limit the savings for wealthier taxpayers, one that would convert the deduction into a 15 percent tax credit and another that would eliminate the deduction on the interest on home equity loans.

If the employee chooses to enroll, the system automatically adds the deduction into the TC payroll system.

President George W. Bush's tax reform panel proposed turning the mortgage interest deduction into a 15% credit against interest paid.

The Australian maneuver had the effect of converting a mostly useless capital loss deduction into a valuable interest deduction.

That issue could turn tax deductions into tax bills, two estate tax lawyers warned.

Simple will then incorporate these known deductions into my Safe to Spend number.

People who buy a home in these areas will face higher monthly costs than if they rented, even after taking tax deductions into account.

The major reform would be to broaden and simplify the tax base by turning almost all itemized deductions into 15percentt credits against taxes.

Experts say the most realistic prospects are for Congress instead to put an overall cap on deductions, starting with higher-income families, or to convert deductions into tax credits.