Sentences with phrase «covered as a deduction»

To understand what costs are covered as a deduction, read on.

Not exact matches

To the extent that in 2018 or any later year, the aggregate amount of any covered officer's salary, bonus, and amount realized from option exercises and vesting of restricted stock units or other equity awards, and certain other compensation amounts that are recognized as taxable income by the officer exceeds $ 1,000,000 in any year, we will not be entitled to a U.S. federal income tax deduction for the amount over $ 1,000,000 in that year.

the annual compensation deduction limit has been reduced to $ 500,000, the exception for performance - based compensation has been eliminated and the individuals covered by the limit has been expanded to include not only our covered executives as described above but also our next 20 most highly compensated team members.

Any business must consider the federal, state, and local laws that govern how a business is formed and managed as well as being knowledge about how to deal with taxes, deductions, and disclosures - among the many things covered under the area of regulations.

Anyone under age 70 1/2 with eligible compensation, such as wages, can contribute to a traditional IRA, but there are income limits if you are covered under an employer retirement plan and you want to take a tax deduction on your contributions.

Rep. Brian Higgins, a Buffalo Democrat, said he opposed the compromise on the SALT deduction because it merely serves as a protective cover for a regressive tax plan that will hurt most taxpayers.

This module covers all the exponential laws as well as the deductions, fractions and exponential equations and scientific notation (standard notation).

The term «profit» will be defined as net sales revenue minus deductions as follows: For print editions, deductions will include actual costs directly attributable to production and shipping of the book; for digital editions, Loveswept / Flirt will cover the cost of production.

For example, the standard deduction, which for the 2014 tax year ranges from $ 6,200 to $ 12,400 depending on your filing status, covers deductions such as medical expenses and charitable contributions.

If you're married filing jointly and covered by a retirement plan at work, then you can take a tax deduction on your traditional IRA contribution, as long as your adjusted income is below $ 99,000.

One caveat: You can't claim this deduction if you are eligible to be covered under an employer - subsidized health plan offered by your employer (if you have a job as well as your business) or your spouse's employer.

The deduction might include $ 17,000 of a $ 20,000 operation not covered by insurance, plus any other unreimbursed expenses incurred in the same year, such as routine medical checkups, dental procedures, chiropractic treatments — even contact lenses and prescription drugs.

The worksheet asks for an estimate of your itemized deductions and adjustments to income, then has you reduce that amount by non-wage income — such as dividends and interest not covered by withholding — before determining how many allowances you should claim to reflect your tax - saving write - offs.

This deduction may be limited if you or your spouse are covered by a work retirement plan, such as a 401 (k).

The IRS will allow you to take an IRA deduction as a low - income taxpayer, even if both you and your spouse are covered by retirement plans at work.

a reimbursement or recoupment for deductible expenditure, such as an amount from a tenant to cover the cost of repairing damage to your rental property (where you would include the whole amount you receive from the tenant in your income and claim a deduction for the cost of the repairs)

To the extent that health insurance premiums are covered by a premium assistance tax credit, they are not deductible as medical expenses; however, any remaining premiums actually paid out of pocket are eligible to be deducted (albeit subject to the 10 % - of - AGI floor for such deductions).

The 30 % federal solar tax credit also covers 30 % of the system cost as a tax deduction and combined with net metering solar is a no brainer home investment.

30 % of the system cost can be claimed as a tax deduction with no size limitations, 30 % will always be covered.

As the name suggests, a Replacement Cost policy will pay up to policy limits the cost necessary to replace property destroyed by a covered loss, with no deduction for depreciation.

The policy continues as long as the cash value is sufficient to cover the various deductions each month *.

The policy continues as long as the fund value is sufficient to cover the various deductions each month.

There is no capping, no sub-limits, no deductions, you get the entire coverage amount on the first diagnosis of any of the covered critical illnesses unlike as in the case of a health insurance plan.

He was quoted as saying, «The increased tax deduction limit will encourage senior citizens or families to buy adequate health cover for elderly parents.

If you want to cover your parents - in - law under a mediclaim policy, let your spouse pay the premium, as it will make him / her eligible to claim the tax deduction.

It is a scheme that is open - ended and offers long - term capital gains along with free accidental insurance coverage, tax deduction as per Section 80C of the Income Tax Act, and life cover.

In layman's words, it is the deduction that doesn't pinch the pockets as it covers for all the expenses that come due to hospitalization in case of any health emergency.

In addition to the life cover, the premium paid towards term insurance can be claimed as a deduction from your taxable income.

If not covered, your out of pocket expense may be used for tax deduction as a medical expense at the end of the year.

Suburban REALTORS Alliance Position The Alliance is opposed to increases in the current transfer tax for the following reasons: 1) As the transfer tax is levied only on buyers and sellers of property, the burden per taxpayer is greater than the burden from a more broad - based tax designed to generate the same amount of revenue; 2) Since public transportation is a benefit that is open to all members of society, the charge should not be placed solely on buyers and sellers of property; 3) The transfer tax adds additional burdens on first - time home buyers saving for a down - payment and covering the closing costs and runs contrary to existing federal, state, and local programs including the mortgage interest deduction, low interest property maintenance loans, and grants to first time homebuyers; 4) A real estate transfer tax is a state and local tax assessed on real property when ownership of the property is exchanged between parties.

As far as deductions go, every household would get a direct deposit at the beginning of the month to cover thiAs far as deductions go, every household would get a direct deposit at the beginning of the month to cover thias deductions go, every household would get a direct deposit at the beginning of the month to cover this.