Sentence examples for personal deductions from inspiring English sources

Practice with respect to personal deductions also varies widely.

Under some flat tax proposals, all income would be taxed at 17 percent, and the only deductions allowed would be personal deductions.

Even if you eliminate all personal deductions, you recoup less than half of the $4 trillion to $5 trillion cost of his plan to lower income tax rates by 20 percent.

One way of limiting the use of itemized personal deductions for taxpayers whose total deductions are small and thereby minimizing costs of compliance and administration—is to provide an optional standard deduction.

He ran through a series of calculations that took into account how the returns were calculated, tax rates and the reduction of personal deductions for people earning more than $250,000 a year (or $300,000 for a married couple).

According to a 2011 study by the non-partisan Tax Policy Center, about a quarter of the households that don't pay any income tax are made up of retired or semi-retired folks, who benefit from expanded personal deductions and the exclusion of some Social Security payments from taxable income.

Prosecutors had cited that expense as an improper personal deduction.

He would cut capital gains and dividend tax rates to 12 percent, from 15 percent, and triple the personal deduction for each child.

Santorum said he would propose two income tax rates of 10percentand28percentcent and would triple the personal deduction for children as well as eliminate the marriage tax penalty.

"I think that the decision to raise taxes by 50percentt in Illinois is political suicide," Kirk said of Quinn's proposal to raise the tax rate to 4.5percentt from 3percentt, coupled with an increase in the personal deduction.

Seizing on the New York Times' bombshell story that the Republican presidential nominee took a $916 million personal deduction in 1995, Kaine said that by not voluntarily releasing his tax returns "he has broken his first promise".