Under the new reimbursement arrangement, employees can substantiate to Employer D the actual amount of deductible expenses
incurred in purchasing their equipment in connection with performing services for Employer D.
It is a deductible expense
while the property is held, based on the premise that the property is declining in value over time due to wear and tear, usage or obsolescence.
When the aggregate operation needs more, not less, currently deductible expenses
, prepaid expenses might be of interest.
The contribution to a pure captive is not a tax deductible expense
. A "broad captive" is owned by a single parent but also sells indemnity contracts to participating firms.
Buying your employees gifts will be a deductible expense
for the company, but likely to be taxed as a benefit in kind on each individual employee.
The cost of Quicken Rental Property Manager is less than $100 and it is a tax deductible expense
. Visit www.quickenrental.com.
Remember, $10 spent on a deductible expense
only saves $1.50 to $3.50 in income taxes.
Since the AIL is a deductible expense
, the net tax rate for a company is 1.34 per cent.
Premiums for approved tax-qualified long-term care insurance may be a deductible expense
for individuals, a significant benefit for seniors during retirement.
They would then be able to claim back all of their property tax as a deductible expense
Commissioner, 113 TC 254 (1999, aff'd, 11th Cir., 2001) "observing that 'a transaction that lacks economic substance is not recognized for [f]ederal tax purposes' and that 'denial of recognition means that such a transaction cannot be the basis for a deductible expense
The investment company can also make loans to its parent; generally, the interest the parent pays for the loan is a deductible expense
The long-standing rule for corporate client entertaining is that it is not a deductible expense
for tax purposes.
Yet, according to a Norwich Union Healthcare survey, seven in 10 firms fail to protect themselves and their staff with income protection insurance even though the cost is a tax deductible expense