Search results
Results from the WOW.Com Content Network
The current tax rate for Canadian-controlled private corporations that claim the "small business deduction" (SBD), is nine per cent. [1] The SBD is based on "small business limits" which is currently $500,000. Previously, a "CCPC using the SBD [could] claim the small business tax rate on up to $500,000 of its active business income carried on ...
Business software is usually a tax-deductible business expense category. This includes subscription costs or the outright cost to own the software, including accounting or project management tools ...
The business mileage reimbursement rate is an optional standard mileage rate used in the United States for purposes of computing the allowable business deduction, for Federal income tax purposes under the Internal Revenue Code, at 26 U.S.C. § 162, for the business use of a vehicle. Under the law, the taxpayer for each year is generally ...
The purpose of the per diem payment (or the deduction of expenses when inadequate reimbursements are provided) is to alleviate the burden on taxpayers whose business or employment travel creates duplicated expenses. The US military pays its members per diem in accordance with the Joint Travel Regulations. [9]
Some medical expenses, for instance, are partly tax-deductible. Under the current tax law, taxpayers are allowed to deduct qualified unreimbursed medical expenses that are above and beyond 7.5% of ...
Business travel is a major expense category for many companies. Having a structured corporate travel program helps keep costs under control in several ways. First, it allows your company to ...
Effective January 1, 2012, the net federal corporate income tax rate in Canada was 15%, or 11% for corporations able to claim the small business deduction; in addition, corporations are subject to provincial income tax that may range from zero to 16%, depending on the province and the size of the business. [17]
A tax deduction is an expense that lowers an individual’s or business’ tax liability by reducing their taxable income. The most common is the standard deduction.