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Tax deduction
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tax deduction
Deducting an expense from taxable income to reduce the total amount of tax paid. Only certain expenses are tax-deductible. These are specified by the tax authorities.
Tax Deduction
Deductible expense that reduces taxable income for businesses or individuals before the amount of income tax payable is calculated.
Sponsors Center ...
Tax Deduction
Definition: Reduction in taxable income. Definition: [crh] An expense that a taxpayer is allowed to deduct from taxable income.
foreign tax deduction
individuals may deduct foreign income taxes paid or accrued, or may apply the taxes as a credit against U.S. income tax
See also foreign tax credit ...
8 Worthwhile Tax Deductions You Don't Know About
By Dan Carter
Financial CorrespondentEvery other Sunday ...
There are 2 types of debt that fall under the Home Mortgage Interest Tax deduction provision and are tax-deductible. The first type of debt is debt that was acquired in order to build, purchase or improve your home.
Notice 2006-52 (PDF) sets forth interim guidance pending the issuance of regulations that explains how commercial building owners or leaseholders can qualify for a tax deduction.
Tax deduction for clean fuel vehicles. To encourage the use of vehicles powered by cleaner- burning fuels, a deduction from gross income is permitted for a portion of the cost of certain "clean-fuel" vehicles placed in service after June 30, 1993, ...
Tax Deduction. A reduction of total income before the amount of income tax payable is calculated.
Tax deductions at source
When an individual is an employee, the ITA requires that the employer deduct tax at source from wages and salaries, including the amount of taxable benefits received by employees, ...
Tax deduction
An expense that a taxpayer can subtract from taxable income. Examples include deductions for home mortgage interest and for charitable gifts. (See Tax credit and Tax exemption.) ...
Tax Deduction: An expense the Internal Revenue Service allows a taxpayer as a reduction against adjusted gross income (AGI). A deduction reduces taxes only by the percent of a taxpayer's tax bracket.
Tax deductions - Expenses you are allowed to subtract from your income when calculating your income taxes.
Tax return - A government form (federal and provincial) that you use annually to declare and reconcile your income, expenses, and taxes.
Tax Deduction
An allowable (by government) expense that can be subtracted from income before calculating income tax.
Tax deduction
A tax deduction is an amount that the IRS allows you to subtract from your income before computing your income tax.
Tax deductions that businesses can claim when they spend money on investment goods.
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) ...
Tax deduction
An expense that a taxpayer is allowed to deduct from taxable income.
Tax deferral option ...
Tax Deduction
A deduction from gross income that arises due to various types of expenses incurred by a taxpayer. Tax deductions are removed from taxable income (adjusted gross income) and thus lower the overall tax-expense liability.
Tax deductions and credits, normally available only to a corporation, are given to the owners of the corporation's flow-through shares.
Tax deduction
Amount that may be deducted from total income before determining tax payable.
A tax deduction that allow spouses to transfer unlimited amounts of property to one another.
Marital trust ...
Home Tax Deductions - Lower Your Overall Tax Liability
by Sandy L Rodriguez ...
Valuable tax deductions for your vehicle you can't afford to miss
Germaine A. Hoston, Ph.D.
What is a Tax Deduction?
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Property Tax Deduction: the U.S. tax code allows homeowners to deduct the amount they have paid in property taxes from there total income.
A corporate tax deduction on income allowed for a company that is in ownership of shares of another company and receives dividends on the shares of the other company.
Divisor ...
DEDUCTIONS - Tax deductions are expenses the IRS allows you to subtract from your taxable income. If yo...
DEDUCTIVE ACCOUNTING THEORY - (mathematical method) assumes that optimal accounting standards and repor...
Employers get a tax deduction for their contribution. Employees owe no income tax on the contributions or on any of the earnings in their accounts until they withdraw money.
exemption: A tax deduction taken by an individual, a spouse, and each dependent.
exercise: To act on an option by purchasing the underlying security.
Annual tax deductions are higher in the first years and diminish in later years of the write-off. [OTS] accelerated dividend A dividend paid to proven creditors of the receivership based on a projection of future funds available.
Passive investing Putting money into a profitable business opportunity that is deemed passive by the IRS and thus benefits from tax deductions.
Compare tax deduction. Tax-deductible The effect of creating a tax deduction, such as charitable contributions and mortgage interest. Tax deduction An expense that a taxpayer is allowed to deduct from taxable income.
Marital deduction A tax deduction that allow spouses to transfer unlimited amounts of property to one another.
tax deduction An expense that is subtracted from adjusted gross income when calculating taxable... tax deferral This is when somebody chooses to pay for present taxes in the future. Differed...
Any provision of the tax code, such as a tax credit or tax deduction, that reduces the amount of tax that a firm or individual will pay, perhaps in return for behavior that the government wishes to encourage.
Tax buoyancy ...
Instead, the company must depreciate the cost over the useful life of the asset, taking a tax deduction for a part of the cost each year. Eventually the company does get to deduct the full cost of the asset, but this happens over several years.
A Registered Retirement Savings Plan (RRSP) Account provides for an income tax deduction when you put money into it. The amount you may contribute is limited, as of 2010, to no more that 18% of earned income to a maximum of $22,000 per year.
While the Pension Protection Act makes it easier to donate IRA assets to charity, it also makes it a bit tougher for individuals to claim tax deductions for contributions of cash, clothing, and household goods.
In the US, an allowable federal tax deduction for the annual interest paid on a mortgage....(Read more)
Mortgage Interest Relief At Source ...
Employers may take a tax deduction for contributions to qualified plans, and in some plans employees may make tax-deferred contributions. Among the other requirements, a qualified plan must provide for all eligible employees equivalently.
Frequently used in the context of claiming tax deductions. For example, a person can claim a tax deduction in a limited partnership if the taxpayer can show it is at risk of never realizing a profit and of losing its initial investment.
An above the line deduction is a tax deduction allowed by the IRS that is taken into account prior to the calculation of Adjusted Gross Income (AGI), and therefore occurs "above the line.
e -34%, then the investment of Rs 1,00,000/ will ensure that you get an annual tax deduction of Rs, 34,000/. So logically speaking you invest Rs 66,000/ considering the deduction.
(2) May cause the loss of tax deductions under Section 162 (m), the deduction that public companies take for compensation to chief executive officer and next four highest compensated officers is limited to $1 million each.
NOL - Net Operating Loss - A period in which a company's allowable tax deductions are greater than its taxable income, resulting in a negative taxable income.
A tax credit is more valuable than a tax deduction of the same amount. TAX DEDUCTION Expenses that reduce taxable income for individuals or businesses.
Corporate employers who contribute to a retirement plan that meets Internal Revenue Service (IRS) guidelines can take a tax deduction for the amount of their contribution and may enjoy other tax benefits.
A limited partnership is classified as an abusive tax shelter by the Internal Revenue Service when it determines that the limited partnership is claiming illegal tax deductions.
Further, the employer ordinarily gets a tax deduction for its contribution, even though the employee does not recognize that contribution as taxable income until amounts are withdrawn from the pension many years later.
Tax deduction on lease payments.
Possibility of a faster tax write-off, depending on the payments schedule.
Flexible terms of payment.
Borrowing capacity is not affected since it is an OFF-BALANCE SHEET form of financing.
To stimulate tourism, the government allowed higher tax deductions for companies that pay for seminars or meetings.
Dividends-received deduction
A corporate tax deduction on income allowed by company A that is in ownership of shares of company B and receives dividends on the shares of company B.
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Mortgage Refinancing Tax Deductions - Mortgage Refinancing Can Restrict Tax...
Savings and Loans - Definition of Savings and Loans
A Home of One's Own - Improve Your Credit ...
Federal tax law allows a C corporation investing in the stock of other corporations to take a tax deduction for the dividend income received from other corporations.
Investment Interest: Investment interest is any interest allowable as an income tax deduction that is paid or accrued on indebtedness properly allocable to property held for investment, I.R.C. ยง 163(d)(3)(A).
You sell three of them to your publicly listed company, using letters of credit opened by your brother-in-law at the bank, then execute a debt/equity swap with associated general offer so that you get all four cows back, with a tax deduction for ...
One is granting unlimited tax deductions for contributions to savings plans and taxing withdrawals, just as is done now with conventional individual retirement accounts (IRAs) and 401(k) plans, ...
Basic Income
Basic Salary paid by a company before any tax deductions and not including any bonuses, overtime, commission or other benefits.
Beneficiary
The person named to receive proceeds or benefits ...
Meals and entertainment expense
A tax deduction allowed for meals and entertainment expenses incurred in the course of business.
Mean
The expected value of a random variable. Arithmetic average of a sample.
 See also: Expense, Saving, Banks, Job, Values
  
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