Sentences with phrase «treated as a deduction»

Investments in such new assets should be treated as a deduction from equity.

This premium of Rs. 7,000 can be treated as a deduction from the taxable income.

The amount of Rs. 15000 that you pay towards premiums will be treated as a deduction from your taxable income, while the sum assured will be a totally tax - free income.

Not exact matches

Critics of the deduction argue that state and local taxes simply reflect payments for services provided by those jurisdictions and, as such, should be treated no differently than other forms of spending.

If we were treated as a corporation in any taxable year, either as a result of a failure to meet the Qualifying Income Exception or otherwise, our items of income, gain, loss and deduction would be

Yet it's treated as part of your overall income for many purposes, such as limits on IRA contributions or deductions, or determining how much of your Social Security benefit is taxable.

Too bad I can not take deductions for blogging expense because I treat it as a hobby.

Obviously, plenty of people do treat this item as a standard deduction.

Because the deduction is treated as an adjustment to income, you can claim this benefit even if you don't itemize other deductions.

For tax purposes, community property law treats most income and some (but not all) deductions of married couples as belonging half - and - half to each spouse.

For purposes of the medical expense deduction, a child of divorced or separated parents can be treated as a dependent of both parents.

At the very least, they should be treated in the same way as tuition reimbursement plans, which allow up to $ 5,250 a year to be reimbursed to employees free of taxes while giving employers a full tax deduction.

Although their combined value is more than $ 5,000, Tim can still claim a deduction for the donation of the shares under this gift type as they are treated as separate gifts each valued at $ 5,000 or less.

If you choose to be treated as a U.S. resident for filing purposes, you can claim the standard deduction.

The benefit of treating a boat or RV as your primary residence, is to take allowable homeowner tax deductions that can decrease your overall tax bill.

You get an income deduction when you contribute to an RRSP, but when you take it out it's treated as ordinary income and subject to tax just like salary.

However, the deduction for self - employment tax is treated as allocatable to your excluded income.

There are several puzzle or interactive dog toys that require the owner (you) to set up the toy and help your dog use his powers of deduction to get the treats as a reward.

If you report a net loss and claim the deduction for more than three out of five consecutive years, your business may be treated as a hobby business rather than a regular business.

A common situation is when a company treats employees as independent contractors in practice (not paying payroll taxes on the workers), but then also claims tax deductions as if the workers were employees.

Treating CPP contributions as tax deductions rather than credits to align them with pension plans and registered retirement savings plans;

Section 80 JJA of the Income Tax Act 1961 is related to deductions allowed on gains and profits from all assesse who have a business related to treating / processing and collection of bio-degradable wastes for producing biological products such as bio-pesticides, bio-fertilizers, bio-gas etc..

Treat the final tax return as you would any other, listing the decedent's income, expenses, deductions and other information.

«Before new tax bill, alimony payments paid to a former spouse were treated as a tax deduction for the payer and income to the recipient.

REALTORS ® enjoy a broad range of deductions and other advantages under the federal tax code because the government enables brokers to treat agents as independent contractors, not employees.

In contrast, the new proposed plan would allow the cost of the property, excluding land, to be treated as a business expense used for tax deductions.

If such deductions exceed taxable income then the expense can be treated as net operating loss to be carried forward to reduce taxes in future periods.