Sentence examples for existing deductions from inspiring English sources

Keep in mind also that the political forces supporting the status quo are very strong and already organizing to keep existing deductions and exclusions, and even expand them.

Since the largest benefits from rate reduction would go to upper-income taxpayers, they will also bear the burdens of "base broadening" reductions in existing deductions needed to keep the government from hemorrhaging revenue, he explained.

With almost all existing deductions and tax credits to be abolished under the plan, there wouldn't be any way for people to get around these taxes.

The deal retains the Bush-era tax cuts and almost all existing deductions and tax breaks, except for a few changes affecting a sliver of high-income Americans, generally defined as those with taxable income above $450,000, and even they did not fare badly (their new top rate of 39.6 percent is still among the lowest top rates in the 100-year history of the income tax).

Nor would she have had a problem, she says, if Congress had increased that existing deduction by $500 so that it applied to all dependents.

In advance of Mr. Romney's tax plan, Mr. Obama's Treasury Department on Wednesday proposed its own corporate tax overhaul plan cutting the top corporate rate to 28 percent by eliminating some existing corporate deductions.

Other big-ticket items are continuing the research and development tax credit for businesses, allowing small businesses to write off investments, a deduction for state and local sales taxes for residents of states without income taxes, and extending an existing tax deduction for education tuition.

Other big-ticket items would continue the research and development tax credit for businesses, allow small businesses to write off investments, provide a deduction for state and local sales taxes for residents of states without income taxes and extend an existing tax deduction for education tuition.

Vice President Mike Pence, during visits to Detroit and Milwaukee last week, repeatedly touted the proposal's near doubling of the existing "standard deduction" from $12,700 to $24,000 for married couples.

Mr. Gore's proposals include increasing an existing federal tax deduction so that families could deduct 28percentt of annual tuition payments -- up to $10,000 in tuition for each child -- instead of the current 20percentt.

Professor Green proposes paying for this change by gradually phasing out the existing mortgage interest deduction.