deduction for tax

См. также в других словарях:

• deduction of tax at source — the process whereby the payer of, e.g. interest, deducts income tax at the basic rate from the payment and accounts for it to the Inland Revenue. It can be compared with the system of Pay As You Earn (PAY E), whereby employers are required to… …   Law dictionary

• Public Policy Limitation on Deduction for Business Expenses — Brief Introduction: Deduction for Business Expenses Section 162(a) of the Internal Revenue Code allows for taxpayers to deduct ordinary and necessary expenses paid or incurred in carrying on a trade or business from their gross income. [26 U.S.C …   Wikipedia

• deduction — de·duc·tion n 1: an amount allowed by tax laws to be subtracted from income in order to decrease the amount of income tax due see also internal revenue code in the important laws section compare credit, ex …   Law dictionary

• Tax forms in the United States — are used by taxpayers and tax exempt organizations to report financial information to the Internal Revenue Service (IRS). They are used to report income and calculate taxes owed to the government of the United States. TOC Federal tax forms 990… …   Wikipedia

• tax credit — n: an amount that may be subtracted from the sum of tax otherwise due and that is distinguished from a deduction applied to gross income in the calculation of taxable income compare exemption Merriam Webster’s Dictionary of Law. Merriam Webster.… …   Law dictionary

• Tax Deducted at Source — is one of the modes of collecting Income tax from the assessees in India. Such collection of tax is effected at the source when income arises or accrues. Hence where any specified type of income arises or accrues to any one, the Income tax Act… …   Wikipedia

• Tax avoidance and tax evasion — Tax avoidance is the legal utilization of the tax regime to one s own advantage, in order to reduce the amount of tax that is payable by means that are within the law. By contrast tax evasion is the general term for efforts to not pay taxes by… …   Wikipedia

• Tax shelter — Tax shelters are any method of reducing taxable income resulting in a reduction of the payments to tax collecting entities, including state and federal governments. The methodology can vary depending on local and international tax laws.In North… …   Wikipedia

• Tax deduction — This article is about the deduction of expenses for the purpose of calculating taxable income. For tax deducted at source, see Withholding tax. Taxation An aspect of fiscal policy …   Wikipedia

• deduction — An expense that is allowable as a reduction of gross taxable income by the IRS e.g., charity donations. Bloomberg Financial Dictionary * * * deduction de‧duc‧tion [dɪˈdʌkʆn] noun [countable, uncountable] the process of taking away an amount from …   Financial and business terms

• Tax Increase Prevention and Reconciliation Act of 2005 — The Tax Increase Prevention and Reconciliation Act of 2005 (or TIPRA, USPL|109|222, USStat|120|345) was enacted on May 17, 2006. This bill prevents several tax provisions from sunseting in the near future. The two most notable pieces of the bill… …   Wikipedia