Sentences with phrase «expenses for taxation»

Independent contractors are also allowed to deduct business - related expenses for taxation purposes.

Only sign a business purpose declaration if you are really using the leased item for business and are able to claim your lease payments as a valid business expense for taxation purposes.

Not exact matches

According to Alan Sandy, spokesman for the group, the district has not kept promises it made to the voters, nor kept expenses down, nor kept services proportional to levels of taxation.

He said it would result in «double taxation» and be a windfall for other states at New York's expense.

In the CIOT's response to the government's call for evidence on the taxation of employee expenses, we recommended: «Greater alignment of the rules under which employment expenses an employer pays or reimburses tax - free with the rules on which non-reimbursed employment expenses an employee can obtain tax relief on.

The CIOT expresses support in its submission for the OTS» recommendations on simplifying employee benefits and expenses, and also backs the current OTS review of the taxation of termination payments and living accommodation.

He says it would result in «double taxation» and be a windfall for other states at New York's expense.

I can not speak for Canadian procedure, but I know that in the US depending on how the «return / gain» is classified will sometimes trigger taxation as it is considered exceptional gain but even then usually you can offset it by your «investment expenses» and normally comes to a wash, meaning it has to be reported TECHNICALLY as a gain but it is often offset elsewhere in the code, have you checked to see if that «taxation» was also offset by any «credit» elsewhere?

Contributions, investment earnings, and distributions are tax free for federal tax purposes if used to pay for qualified medical expenses, and may or may not be subject to state taxation.

The maximum refundable medical expense supplement is $ 1,187 for the 2016 taxation year.

You can pay for your Medicare premiums, unreimbursed medical expenses, dental expenses and long - term - care insurance from the health savings account without taxation or penalty.

An amount allowed under the Income Tax Act to be deducted from the value of certain assets and treated as an expense in computing an individual's or company's income for a taxation year.

For your current asset holdings and for new investments we will model details of taxation and investment expenses in the projectioFor your current asset holdings and for new investments we will model details of taxation and investment expenses in the projectiofor new investments we will model details of taxation and investment expenses in the projections.

«I would argue that for a sole employee of your company, S - Corp doesn't provide significant benefits over the disregarded LLC taxation, but has some additional overhead that adds to your expenses.»

If you buy a U.S. vacation home and opt to rent it out — to either earn income or defray some of your annual expenses — then be prepared for double - taxation.

Bonds used for higher education expenses might be able to avoid federal taxation.

Each corporate structure has different implications for legal liability, expenses and procedures, fundraising, and taxation.

The account's earnings will be tax - free, and withdrawals will not be subject to taxation unless you choose to withdraw the money and use it for something other than qualifying educational expenses.

As with other types of life insurance, the proceeds that are received via a final expense policy can be obtained free of income taxation by the beneficiary — and they can be used for any need that they see fit.

In addition, any sum you may have deducted for medical expenses that are later covered through an insurance settlement can be considered income and subject to taxation.

That is because life insurance proceeds, which are received free of income taxation, can be used for the payoff of debt, the payment of ongoing living expenses, and / or for paying the insured's funeral and other financial expenses.

For taxation purposes, the policy can be used to claim a deduction on business taxes under the category of business expenses.