Sentences with phrase «vehicle expense deduction»

MOTOR VEHICLE EXPENSE DEDUCTION Where an employee receives a reasonable per kilometer reimbursement for the use of his / her personal motor vehicle in connection with employment duties, the reimbursement is generally excluded from employment income.

Not exact matches

Please relevant section on travel and vehicle expenses so that you know the deductions that are applicable to you.

May a debtor claim an ownership expense deduction under the means test if the vehicle is unencumbered?

Notwithstanding paragraph (1)(A), if the expenses incurred by an employee for the use of a vehicle in performing services described in paragraph (1) exceed the qualified reimbursements for such expenses, such excess shall be taken into account in computing the miscellaneous itemized deductions of the employee under section 67.

If you travel a lot, you'll likely be taking more deductions based on your car (and there can be nuances there, like writing off actual expenses and writing off vehicle depreciation).

The issues that are typically addressed in mediation are issues related to children: legal custody and residential custody, visitation, child support, allocation of college expenses for the children, health insurance, life insurance; alimony and spousal support; division of real property, including the family home; division of tangible personal property including motor vehicles, boats, furniture, furnishings, art work, etc.; disposition of other property accumulated during the marriage, including bank accounts, investment accounts, pension / profit - sharing / retirement accounts, etc.; payment of credit cards and other debts, and tax matters including decisions relative to filing joint or separate tax returns and claiming the children as dependency deductions.

In the change, Congress retained a $ 100,000 cap on the expenses small - business practitioners may deduct from their income for tax purposes but capped the proportion of that deduction that could go toward a large vehicle.

To put it another way, you are allowed a deduction on your income tax return for the wearing away and expensing over time of property or assets, such as aircraft, vehicles, livestock and buildings.