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  2. Low-Income Housing Tax Credit - Wikipedia

    en.wikipedia.org/wiki/Low-Income_Housing_Tax_Credit

    The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.

  3. Property Tax Circuit Breaker - Wikipedia

    en.wikipedia.org/wiki/Property_Tax_Circuit_Breaker

    The maximum credit is $1,000 and for filers who make less than $25,000 per year the property tax must be over 3% of their yearly income. For tax filers who make between $25,000 and $40,000 the property tax must be over 4% of their yearly income. For those over the age of 70 who make under $60,000 per year the property tax must exceed 3% of ...

  4. Partnership taxation in the United States - Wikipedia

    en.wikipedia.org/wiki/Partnership_taxation_in...

    Example: A and B each contribute $10,000 in cash to form the AB Partnership. AB buys real property for $120,000, paying $20,000 and giving a recourse note for $100,000. The partnership agreement allocates all items equally to the partners. To determine each partner's economic risk of loss, a constructive liquidation analysis must be performed.

  5. The IRS just announced big tax changes for 2025 - AOL

    www.aol.com/finance/irs-just-announced-big-tax...

    For 2025, the IRS has adjusted income tax brackets to accommodate rising wages. The 37% top tax rate applies to singles earning over $626,350 and married couples earning over $751,600 (an increase ...

  6. When will Jackson County seniors benefit from a property tax ...

    www.aol.com/jackson-county-seniors-benefit...

    Renters over the age of 65 can also apply for property tax credits through this program if their total household income is below $27,200 for single people or below $29,200 for married couples. The ...

  7. Tax shelter - Wikipedia

    en.wikipedia.org/wiki/Tax_shelter

    Tax shelters are any method of reducing taxable income resulting in a reduction of the payments to tax collecting entities, including state and federal governments. [1] The methodology can vary depending on local and international tax laws.

  8. What Is a Tax Shelter? - AOL

    www.aol.com/news/tax-shelter-125810957.html

    The term tax shelter could have you thinking about wealthy people and businesses tucking away money in shady offshore accounts to avoid paying taxes. "Typically, tax shelter is kind of a dirty ...

  9. New Markets Tax Credit Program - Wikipedia

    en.wikipedia.org/wiki/New_Markets_Tax_Credit_Program

    U.S. Senators Jay Rockefeller (D-West Virginia) and Roy Blunt (R-Missouri) introduced S.B. 1133, "New Markets Tax Credit Extension Act of 2013" in June 2013 to permanently add New Market Tax Credits to the Internal Revenue Code, however the program expired in January 2014 without the bill passing. [14] [15] The program does continue.

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