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An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
A Qualified Employee Discount is defined in Section 132(c) as any employee discount with respect to qualified property or services to the extent the discount does not exceed (a) the gross profit percentage of the price at which the property is being offered by the employer to customers, in the case of property, or (b) 20% of the price offered for services by the employer to customers, in the ...
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In May 2014, the company closed its internet-based tax receipt service when it was discovered that a security flaw enabled people to access information about clients, the last four digits of credit card numbers and taxi number plates. [10] In 2015, Ingogo raised $12 million in a funding round that valued the company at $100 million.
This page was last edited on 4 September 2012, at 09:33 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
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This is sometimes referred to as the “breadwinner bonus”–and it happens because the tax brackets for married couples are (except for the very rich) twice as large as the brackets for singles.
This page was last edited on 26 February 2018, at 10:28 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.