6 ways to save money on drugs and doctors Oct 3, 2008
5 percent of your adjusted gross income, you can get a tax deduction. Many people eligible for this tax break don't use it because it requires a good deal of record-keeping. (CNN -- Health)
Seniors cope with rising rents at facility Sep 24, 2008
Wasilla seniors gets a 7 percent share of gross income as a fee for managing the 129 units, Hall has said. The ombudsman's office found several problems with the way the seniors' group handled the rent increase, according to Merrill's report. (Anchorage Daily News)
Biden's Financial History Disqualifies Him For High Office Sep 24, 2008
Over the course of ten years (1998 through 2007) the Bidens averaged an adjusted gross income of $245,000 placing them uncomfortably close to that threshold of $250,000 a year that Senator Obama considers wealthy and deserving of sharply increased taxes ... Between 1998 and 2007, his adjusted gross income never dipped below $210,797, but his charitable giving never exceeded $995 (while actually dipping as low as $120 a paltry $10 per month) ... In other words, the Bidens'... (Townhall.com)
Some Christians keep tithing even as they face foreclosure Sep 24, 2008
By Nick Carey, Reuters CHICAGO While millions may lose their homes during the worst housing slump since the Great Depression, some devout Christians among them will do so in part because they will not give up tithing a voluntary contribution to their churches amounting to 10% of their gross income. "I've had home owners who face foreclosure sitting in front of me saying, 'I'll do anything, anything to keep my home," said Ozell Brooklin, director of Acorn Housing in Atlanta, a nonprofit which... (USA Today -- News)
Child support collections increase Sep 23, 2008
Grogan says that's because gross income determines assistance program eligibility, and no allowance is made for income reductions because of child support payments. He says the upshot is that there's less incentive for some people to find jobs. (Sioux City Journal, IO)
Buying Power Leveraged by Income Properties Sep 23, 2008
The percentage of rental income included as gross income for mortgage approval also varies. Commercial lenders specialize in property types, uses and locations, and financing is generally more expensive. (RealtyTimes)
The Best Way to Save on Health Care Costs Sep 23, 2008
5% of their adjusted gross income, the level at which they can begin to itemize medical deductions on their income taxes. So how do these plans work. (SmartMoney)
More Americans strain to meet housing costs Sep 23, 2008
Among the largest 100 metropolitan areas, half or more of homeowners with mortgages in these metros were in the "cost burdened" category of spending at least 30% of their gross income on housing in 2007. Metro area. (USA Today -- Money)
Medicare's Monthly Premium Won't Rise in 2009 Sep 23, 2008
If gross income is greater than certain amounts ($85,000 in 2009 for a beneficiary filing an individual income tax return or married and filing a separate return, and $170,000 for a beneficiary filing a joint tax return), the beneficiary has to pay a larger portion of the estimated total cost of Part B benefit coverage. One advocate for Medicare recipients said the decision to keep Plan B premiums the same is "welcome news.". (MEDLINEplus)
Heads Up: New farm bill starts to take shape (2) Sep 21, 2008
The U.S. House farm bill would forbid farm program commodity and conservation payments to anyone with an adjusted gross income (AGI) above 1 million, with no exceptions. The current AGI limit is 2. (Sioux Falls Tri-State Neighbor, SD)
Municipal campaign contributions slow this year, APOC says Sep 20, 2008
Areawide Assembly candidate Wade Bryson reported the highest gross income of the reports at $6,150, compared to $1,650 in income reported by his opponent, incumbent Bob Doll. "That is solely because I put $5,000 of my own money into my campaign," Bryson said. (Juneau Empire)
FDs, FMPs best in uncertain times Sep 19, 2008
And for a fixed deposit of say Rs 50, 000, the entire interest of Rs 5, 000 can be received without 00004000 any TDS, if the depositor has a gross income of around Rs 1. 5 lakh per annum. (India Times)
Casino revenue drops in Colorado Sep 19, 2008
Black Hawk casinos reported adjusted gross income, or AGP, of $47. 75 million in August, down 5. (Denver Business Journal, CO)
Experts recommend overhaul of federal student aid Sep 19, 2008
Families getting means-based public benefits would be eligible for the maximum Pell award without IRS data, and Pell awards would be based on family size, adjusted gross income and would see yearly increases tied to the Consumer Price Index. Remove distinctions between subsidized and unsubsidized loans and transfer those subsidies toward students who are in repayment. (Pittsburgh Post-Gazette, PA)
Group calls for major overhaul of federal student aid Sep 19, 2008
Base eligibility for federal Pell Grants only on family size and adjusted gross income. That data could be packaged and presented in easy-to-access tables that would enable families to estimate how much they would get, based on their current financial circumstances. (USA Today -- News)
Locations set up to apply for food stamps Sep 18, 2008
B S K wrote on Sep 12, 2008 1:27 AM:" My wife and I work hard for the money we make to barley keep our heads above the water. But beacuse our gross income is more than the government standards we never get any assistance when we need it the most. Hopefully this one time the government will do right by the honest working man . Well, we shall see!!!!!!! Or I could quit my job and have about 5 more kids then i'll get all the help i need. we will see!!!!!!!!!!!!! ". Not right wrote on Sep 11, 2008... (New Iberia, LA)
A Very "UnAmerican" Answer to Solving Our Financial Woes Sep 18, 2008
Nope, the majority of the people in this country who make an adjusted gross income of $250,000/year are not small business people and farmers. True, small business people and farmers do drive the economy but they are not in the top 1% of wage earners. (Townhall.com)
Towing company owner pleads guilty to tax fraud Sep 18, 2008
Since Sherman reported the profits of Budget Towing on his personal returns, he admitted that he substantially understated the adjusted gross income on his 1040 return for 2003. Reader Comments. (St. Louis Business Journal, MO)
FastPark takes its time with growth Sep 18, 2008
This is good for the airport, too, since FastPark pays a percentage of its gross income for access, said Paul Hegedus, manager of commercial and business development at CVG.. Melanie Chavez, 36, who handles construction and public relations for FastPark, said the trick was not raising its prices. (Cincinnati Business Courier, OH)
Bush's war moves on par with Hitler's Sep 17, 2008
If you buy them yourself, be prepared to spend nearly 20% of your gross income on the premiums alone. Median family income in U.S.= $61,300; median monthly health ins. (Longview Daily News, WA)
Jeff Jacoby: Seeing through Obamanomics Sep 15, 2008
Barack and Michelle Obama's show that from 2000 through 2004, when their adjusted gross income averaged nearly a quarter of a million dollars a year, their annual charitable donations amounted to just $2,154 - less than nine-tenths of 1 percent. Not until he entered the US Senate in 2005 and began to be spoken of as a presidential possibility did the Obamas' "neighborliness" become more evident. (Boston Globe)
Seeing through Obamanomics Sep 14, 2008
Barack and Michelle Obama's tax returns show that from 2000 through 2004, when their adjusted gross income averaged nearly a quarter of a million dollars a year, their annual charitable donations amounted to just $2,154 - less than nine-tenths of 1 percent. Not until he entered the US Senate in 2005 and began to be spoken of as a presidential possibility did the Obamas' "neighborliness" become more evident. (Boston Globe)
Bidens report giving fraction of income to charity Sep 13, 2008
Biden and his wife, Jill, earned $319,853 in adjusted gross income and paid $72,787 in federal taxes last year, including $2,721 in alternative minimum taxes. They claimed $995 in deductions for charitable giving, about triple what they deducted in any of the nine previous years. (Boston Globe)
McClellan Saw Storm in White House Katrina Strategy Sep 13, 2008
If you can t balance your own checkbook and have a mortgage you cant pay for, the national debt looks pale when compared as a % of gross income. Start thinking about what is good for ALL of us, not what is good for YOU. Make decisions not about what FEELS right (or because you are scared of being held accountable yourself) but by what IS right. (Yahoo News -- Tropical Storms and Hurricanes)
Obama will bring 'real change' to Washington Sep 13, 2008
Glenn wrote on Sep 12, 2008 8:12 AM:" It troubles me greatly that The Sioux City Journal would print this garbage.Under President Bush, taxes are lower than when Bill Clinton was President, for ALL Americans. While it is true that average Gross Income has decreased, it has dropped a couple hundred dollars, not $2,000 as Obama likes to say. Oh, and Presidents don't determine income levels, businesses do. Colleges determine what college costs, many of those folks who "can't afford" health... (Sioux City Journal, IO)
LETTERS: The Californian, Sept. 12, 2008 Sep 13, 2008
Isn't it about time that our lawmakers pass laws, that all people on all levels of income pay the same percentage of their yearly gross income, with the exception of the lowest incomes ... But then, since all our politicians get their pockets filled with "donations" by the rich, all our politicians will keep the rich from paying the same percentage of gross income from all the money they receive yearly, and thus they become richer and richer and richer and we, the low- and medium-income people,... (North County Times)
Twice As Many Rich Escape U.S. Tax Sep 13, 2008
7% of those filed), reported adjusted gross income of $200,000 or more, up from 3 million returns in 2004 ... This increase was largely explained by a temporary break Congress passed in the wake of Hurricane Katrina; taxpayers making cash donations after August 27, 2005, and before January 1, 2006, were allowed to wipe out all of their adjusted gross income with a charitable deduction. (Yahoo News -- Taxes and the IRS)
Hollywood's most overpaid movie stars Sep 13, 2008
Peter Kramer/The Associated Press For every dollar she was paid, Nicole Kidman's movies averaged $1 of gross income ... Then we added the first three months of DVD revenues and subtracted the budget to derive the film's gross income ... After that, the actor's total compensation (upfront pay plus any money earned from sharing in the film's profits) was divided into the gross income to get the actor's payback figure for the film. (International Herald Tribune -- Business)
Study warns Mercer on affordable homes Sep 13, 2008
Going by the rule of thumb that homeowners should not spend more than 30 percent of their gross income on housing, the study concluded that 39 percent of county households -- more than 49,000 -- exceed that amount. In addition, under 25 percent -- about 22,000 -- are paying more than 50 percent of their incomes on the primary housing expenses of either mortgage or rent. (NJ.com -- Times)
And the most overpaid celebrity is... Sep 12, 2008
past three movies and dividing their total earnings by the films' gross income to get the actor's payback figure. Making up the top 10 of overpaid Hollywood celebrities were. (Yahoo News)
Most overpaid stars named Sep 12, 2008
The researchers calculate an actors standing by adding their films' box office take and first three months' DVD sales and subtracting the budget to come up with the gross income. The gross income is then compared to the actors salary, allowing them to be ranked. (iAfrica.com)
Kidman 'most overpaid actor' Sep 11, 2008
For every dollar he was paid, Cruise's movies averaged $4 of gross income. Number two on the overpaid list was ex-Alias TV star Jennifer Garner, with a $US3. (The Australian)
Senior Notes Sep 11, 2008
One s gross income must be below 200 percent of the federal poverty level. For example: if a person lives alone, income (before taxes) must be under $1,734 per month. (Watertown TAB & Press, MA)
California's rich keep on giving Sep 10, 2008
Under U.S. tax law, individuals can write off up to 30% of their adjusted gross income for cash gifts and up to 20% for gifts of securities, he said. The question becomes: How much of my wealth am I going to pass on to my children, how much do I give to government and how much am I going to give to charity. (Yahoo News -- Philanthropy and Volunteerism)
Slipshod lending practices come home to roost Sep 10, 2008
" Through decades of commitment, Sen. Clinton cracked the glass ceiling and helped others up the ladder. Gov. Palin, a "free rider" to the women's movement, offers but her own divisive "pitbull" vision of America. Eight years were enough. No way, no how -- no more. -- MICHELLE LAMAR, HamiltonObama tax plan less than fair In Democratic presidential candidate Barack Obama's economic plan, he states he "will restore fairness to the tax code," meaning that he will increase taxes on those he... (NJ.com -- Times)
Fannie, Freddie Shareholders Left Holding the Bag Sep 10, 2008
The standard used to be 29/36, meaning a borrower would qualify based on the lesser of the mortgage payment being 29% of their gross income or total debt to income including mortgage payment being a maximum of 36% of their gross income. We saw this creeping-up to 41%, 45%, and Fannie/Freddie even gave loan approvals over 50% if there were strong compensating factors. (SmartMoney)
Wiggles still Australia's highest-paid entertainers Sep 10, 2008
The Wiggles earned an estimated gross income of $45 million during 2007-08. By contrast, rival children's group Hi-5 split $18 million. (ABC Online)
Hollywood's Most Overpaid Movie Stars Sep 10, 2008
Then we added the first three months of DVD revenues and subtracted the budget to derive the film's gross income. After that, the actor's total compensation (upfront pay plus any money earned from sharing in the film's profits) was divided into the gross income to get the actor's payback figure for the film ... We deliberately used gross income rather than net income in our analysis because the latter figure is so easily manipulated by studio accountants, with marketing expenses treated... (Forbes -- Business)
Cresud S.A.C.I.F. y A. Announces Results for the Fiscal Year Ended June 30, 2008 Sep 9, 2008
This increase is mainly attributed to the 71% increase in gross income from crops, which was Ps. 46. (PR Newswire)
Comparing tax plans (290) Sep 8, 2008
number of dependents, and an estimate of your adjusted gross income. It ll tell you how you d do under each tax proposal. (Green Valley News & Sun, AZ)
Food distribution coming up Sep 8, 2008
Whether or not a household participates in one of the specified programs, those households with less than the specified maximum gross incomes are eligible. The maximum annual gross income for a family of four is $39,220. (Harwich Oracle, MA)
HwangDBS IM declares income distributions Sep 8, 2008
The annual gross income distribution of four sen for Dana Fahim Funds FY Aug 31 was its third and final distribution since its launch on June 28, 2004 ... HwangDBS IM also declared an annual gross income distribution of five sen for Dana Izdihar Funds FYAug 31. (The Star Online, Malaysia -- Business)
Time to think about IRAs Sep 7, 2008
If either spouse is covered under a retirement plan, their modified adjusted gross income (MAGI) will determine how much will be tax deductible. You can always make a nondeductible contribution no matter how high your income is. (Casper Star-Tribune, WY)
Downturn batters isle businesses Sep 5, 2008
Also, more businesses have reported that they have experienced a decline in gross income and in profits before taxes, and have elected to reduce their work force, according to a semiannual survey released today by the Business Banking Council ... As businesses struggle with challenging economic times, survey respondents have reported that their gross income loss is climbing, and more of them have posted a decline in profits before taxes ... Thirty-eight percent of survey respondents reported... (Honolulu Star-Bulletin)
LETTER: Bush consolidates wealth at the top Sep 2, 2008
Average gross income was $58,029 in 2006 dollars and this was an increase of $739, or 1. 2 percent, over the $57,289 average for 2000. (Ipswich Chronicle, MA)
Here Are Five Things Democrats Won't Tell You: Caroline Baum Sep 2, 2008
The bottom 50 percent of (adjusted gross income under $32,000) earned 15 percent of the income and paid less than 3 percent of the income taxes in 2006, according to the. At the other extreme, the top 1 percent of filers (AGI over $389,000) accounted for 21 percent of the income earned and almost 40 percent of the taxes paid. (Bloomberg -- Columnists)
Taxes on Vacation Homes Aug 29, 2008
The IRS will let you write off up to $25,000 of passive-rental real estate losses if you "actively participate" and have adjusted gross income under $100,000 ... Unfortunately, the exception is phased out for adjusted gross incomes between $100,000 and $150,000, and the IRS says the exception doesn't apply anyway when the average rental period is seven days or less. (SmartMoney)
A Roman Catholic who simply doesn’t exist Aug 29, 2008
3 billion of its first-quarter gross income, in taxes. That s 49 percent of its profit. (Winona Daily News, MN)
REGION: Tri-City board backs administration after third bond loss Aug 28, 2008
5% of your $1 Billion annual gross income to rebuilding. That's two and a half cents out of every dollar, something that can be accomplished with skillful budgeting. (North County Times)
IRAs Are Better Than Ever Aug 28, 2008
If you are unmarried and covered by a retirement plan in 2008, your eligibility to make a deductible traditional IRA contribution for this year is phased out between adjusted gross income (AGI) of $53,000 and $63,000. However, you can contribute to a traditional nondeductible IRA regardless of income. (SmartMoney)
Economy: The Pie Got Bigger Aug 27, 2008
According to the latest data from the Internal Revenue Service, average adjusted gross income in 2006 hit $58,029 in 2006 dollars. It was the first time that average income had exceeded the peak year of 2000, the year before incomes began to decline. (Investors Business Daily)
Boston seeks help to lower small business energy costs Aug 26, 2008
Adjusted gross income reported on tax returns averaged $58,029. In 2006 dollars that was an increase of $739, or 1. (Boston Globe)
Nutrition program changes Aug 26, 2008
To be eligible on the basis of income, an applicant's gross income, or before taxes are withheld, must fall at or below 185 percent of the United States' poverty income guidelines. For more information on the WIC program and specific income guidelines, call Adele Bench at 239-5263 or visit the Southeastern District Health Department at. (Pocatello Idaho State Journal, ID)
MCCAIN CAMPAIGN SLAMS VP PICK... Aug 24, 2008
1% of the income), the top 1% with gross income of $328,049 or more pay 36. 9% (earning 19%), the top 5% with gross income of $137,056 or more pay 57 ... 4%), and the bottom 50% with gross income of $30,122 or less pay 3. (The Drudge Report)
Social Security is morally bankrupt Aug 23, 2008
Under Social Security, lower- and middle-class individuals are forced to pay a significant portion of their gross income approximately 12 percent for the alleged purpose of securing their retirement. That money is not saved or invested, but transferred directly to the program's current beneficiaries with the "promise" that when current taxpayers get old, the income of future taxpayers will be transferred to them. (Russellville News Democrat Leader, KY)
Mutual Funds &Personal Finance Aug 23, 2008
The full credit is available to singles with up to $75,000 in modified adjusted gross income [AGI. Partial credits are offered until modified AGI hits $95,000. (Investors Business Daily)
IRS needs to do a better job in 2009 of dealing with victims of identity theft Aug 22, 2008
When an individual or business borrows money and the debt is canceled, the borrower generally must include the amount of the canceled debt in gross income. This often-unexpected tax hit can affect borrowers who lose their homes to foreclosure or who default on car loans or credit card debts. (Boston Globe)
Late Payments of Estimated Taxes Can Be Smart Move Aug 21, 2008
5% if your 2007 adjusted gross income was over $150,000). Be Sure to Catch Up by 4/15/09. (SmartMoney)
Housing affordability jumps in region Aug 20, 2008
The homebuilders association bases its calculations on federal family-income estimates and assumes 28 percent of gross income goes toward housing, then calculates prices and payments based on sales data and the average rates for a 30-year fixed-rate mortgage with a 10 percent down-payment. Reader Comments. (Sacramento Business Journal, CA)
What the Housing and Economic Recovery Act of 2008 Means for You Aug 19, 2008
But even if you are over the modified adjusted gross income level of $95,000 (single) or $170,000 (married), you may be able to receive partial tax credits. And getting started with the tax credit program is simple. (RealtyTimes)
Help for Home Buyers Aug 17, 2008
In general, the credit is available in full only if your adjusted gross income doesn't exceed $75,000 ($150,000 if you file a joint return). The credit phases out over the $150,000 to $170,000 adjusted gross income range for joint filers ($75,000 to $95,000 for individual filers). (Wall Street Journal)
Pricey health coverage eases worries for future Aug 16, 2008
5 percent of adjusted gross income. Like other medical costs, they can be deducted on Arizona income-tax returns. (AZCentral -- Business)
Where to Seek Refinancing Aug 16, 2008
They could also carry a high debt-to-income (the portion of monthly gross income that pays monthly expenses) or loan-to-value ratios (the amount of a mortgage compared to the value of the property). MORE ON PERSONAL FINANCE FROM SMARTMONEY.COM. (SmartMoney)
WesternOne Equity Income Fund Announces Release of Q2 Financial Results and Schedules Conference Call Aug 14, 2008
Gross income increased by 71. 2%, or $4. (PR Newswire)
ING Sees Banking Success but Lower Profits Aug 14, 2008
Gross income from premiums fell 2. 3 percent to euro11. (ABC News -- Business)
