Sentences with phrase «several business deductions»

Another factor that might inform the decision is the elimination of several business deductions and other exemptions that in previous years further reduced the value of taxable income.

Not exact matches

Business deductions and credits: The new bill would add several key tax benefits for businesses while removing certain deductions and credits.

The law contains several provisions favorable to businesses, including a cut in the corporate income - tax rate to 21 %, down from 35 %; the ability to write off qualified investments in new facilities right away, rather than over several years; and the potential for a 20 % income deduction for small - business owners who own companies via pass - through entities.

If you own a business or rental property or have offshore investments, hiring an accountant may set you back several hundred dollars but you're less likely to miss out on important credits and deductions.

But if you are not a small business owner, there are still above - the - line deductions you can take such as stock losses up to $ 3,000, IRA contributions, student loan interest, moving expenses, alimony and several other items.

Additionally, several previously itemized deductions have been eliminated, including employee business expenses, tax preparation costs, and investment interest expenses.

There are several tax saving instruments to help you with your tax - planning — some of them come with an E-E-E (i.e. investment, accumulation and withdrawal are all tax exempted) status while some others allow tax deduction claims and are open to all the taxpayer classes such as salaried, business people, professionals etc..

Several disability insurance companies have determined that most business owners use deductions and business expenses to their advantage, and thus have more income than what actually shows up on their tax returns.