Sentence examples for largest deduction from inspiring English sources

You must choose between deducting state income taxes or sales taxes, and you should choose whichever provides the largest deduction.

The best way to decide whether you will take the standard deduction or will itemize expenses is to fill out IRS Form Schedule A ("Schedule A"), and see which gives you the largest deduction.

Normally, state taxes are deductible at the federal level, but a large deduction for state taxes can lead to a federal A.M.T. liability.

(With a larger mortgage comes a larger deduction).

People who spend more on certain things, like mortgage interest or hospital bills — or, in Mr. Trump's plan, child care bills — can itemize those expenses and claim a larger deduction.

Paul Gordon Hoffman, a lawyer with Hoffman Sabban & Watenmaker in Los Angeles who is not related to the president of Planned Giving Design Center, said that charitable remainder annuity trusts financed with cash would generate an increasingly large deduction as interest rates rise.

But Mr. Block said that retirees in many states — New York and Michigan for example — get income-tax breaks on Social Security and pension income, so they may have a larger deduction for sales tax, especially if they have made a large purchase like a car.

He landed a tumbling pass too low and was forced to put his hands on the floor, inciting a large deduction.

The increases will show up in larger deductions from paychecks and higher deductibles and payments for care, especially prescription drugs.

Large deductions can be spread over six years, or donations can be made in increments so that tax deductions can be spread over many more years.

People are most likely to be affected if they have many children and thus many personal exemptions, unusually large miscellaneous deductions for items like medical expenses, or large deductions for state and local income taxes and property taxes.