business deduction


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Related to business deduction: Business Expense Deductions
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Words related to business deduction

tax write-off for expenses of doing business

References in periodicals archive ?
Although denying a business deduction for interest paid on tax underpayments would exact real, permanent, and deleterious cost from taxpayers, the proposal would increase government revenues in the first fiscal year primarily by virtue of its pre-effective date, in terrorem consequences and, thus, represents little more than a "quick fix" budget gimmick.
A total of 831 estates elected special use valuation, alone or in combination with the business deduction or deferral of estate taxes; 1,114 estates claimed the qualified family-owned business deduction, alone or in combination with special use or deferral of taxes; and 382 estates elected to deter estate taxes, alone or in combination with the other two business provisions.
Put simply, an individual NOL is created when business deductions in excess of business income also exceed net nonbusiness income; see Sec.
In holding for the taxpayer, the court noted that its appellate circuit, the Sixth, had allowed a business deduction for the cost of buying out an onerous lease in Cleveland Allerton (36 AFTR 862 (1948)).
CPAs will find that businesses the taxpayer does not engage in for profit won't be allowed any business deduction.
Discover hidden business deductions you may not be taking
While restating some of the Tax Code requirements for specific business deduction, he could help direct the implementation of all facets of a viable plan/arrangement.
To claim a business deduction for listed property, taxpayers must follow the Sec.
However, because this can create financial benefit to a company (since it gets a business deduction for the policies and the proceeds from the policies when the employees die), the IRS will look at COLI programs closely, and Congress has set limits on the deductibility of their associated costs.
The definition of what constitutes a principal place of business is central to determining whether a taxpayer may claim a business deduction for allocated home-related office expenses such as utilities, repairs and depreciation.
To qualify for a business deduction of tax deficiency interest, the district court said the taxpayer must show the underlying deficiency is ordinarily and necessarily an expected occurrence in the taxpayer's line of business.
2057 family-owned business deduction, which contains similar language.
To qualify for a business deduction of tax deficiency interest, the taxpayer must show the underlying tax deficiency is ordinarily and necessarily an expected occurrence in the taxpayer's line of business.
The court also determined that although interest incurred is generally a business deduction, no interest is owed on a nonrecourse liability that exceeds a reasonable estimate of the FMV (because there is no genuine debt).
6033(e) now requires taxexempt organizations to include on any return claiming a trade or business deduction the total nondeductible lobbying expenditures for the tax year and the total amount of the dues or similar payments allocable to such expenditures.
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