Word: taxingly
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
Generally, the targeted tax goodies for education and retirement get phased out for joint filers with an annual household income between $75,000 and $160,000. "The thresholds are tantalizingly high," notes Tom Ochsenschlager, a tax partner with Grant Thornton in Washington. "All of a sudden, you may find it makes sense to keep your '98 income down...
...this year is to make sure, where possible, that you don't exceed income limits placed on things like the new Roth IRA and child tax credit. You will also want to pay close attention to the investments you have in taxable and tax-deferred accounts. The lower capital-gains tax rate, which came into play in '97, remains a major planning point going forward...
...course, no one is suggesting that you give up income just to qualify for a tax break. But more than ever it may make sense to defer income into 1999. Among other things, that might mean not selling any stocks for a gain that you can't offset with a loss. Under the new rules, a house sale could send your income soaring. If you are a doctor or lawyer, you can begin slowing your billing process later in the year...
Here, briefly, are the key tax benefits you may qualify...
...CHILD TAX CREDIT It's worth $400 in '98, and $500 after that for each child under 17, and is phased out at an annual household income...