Tax-deductible


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Related to Tax-deductible: tax-deferred

Tax-deductible

The effect of creating a tax deduction, such as charitable contributions and mortgage interest.

Deduction

An amount of money that one may subtract from one's gross annual income when calculating one's income tax liability. A common misconception about tax deductions is that they represent a dollar-for-dollar reduction of one's tax liability. Rather, a deduction removes a certain dollar amount from the income the IRS uses to calculate the percentage of one's income that is owed in taxes. Common deductions are charitable contributions, business expenses, and interest on mortgages. See also: Tax credit.
References in periodicals archive ?
Sabin reportedly indicated that donors need not worry about the new RM1,000 reporting threshold as long as they did not break any laws, also saying that the revised rules would help donors when calculating the total tax-deductible amount.
Tax-Deductible Contributions Received in 2017 Designated to IMA Initiatives and Its Overall Annual Giving Campaign
The House should approve SB 40, and give Oregonians greater confidence that any tax-deductible contribution will make the state and the world a better place.
3-bedroom, 2-bathroom, 1,475 sf co-op in a prewar elevator building; 24-hour doorman; renovated unit has central air-conditioning, oak floors, crown moldings, foyer, recessed lights, washer/dryer; building has laundry, bicycle room, storage, live-in super; maintenance $3,175 per month; 50 percent tax-deductible; asking price $1.595 million; 6 weeks on the market.
This church then had the temerity to solicit tax-deductible donations to place more ads like it!
The VEBA would provide, on a tax-deductible basis, the money to take care of the buyout.
Such payment, if confirmed, could have been treated as tax-deductible expenses.
Contributions are tax-deductible and funds grow tax-deferred.
The contributions, if reasonable, are fully tax-deductible and may vary by individual.
Authorizing insurers to establish tax-deductible reserves for potential catastrophic events has been advanced as a means to enhance industry capacity, but some industry analysts feel that such reserves would lower federal tax receipts and not necessarily bring about a meaningful increase in capacity.
In this report, GAO (1) provides an overview of the insurance industry's current capacity to cover natural catastrophic risk and discusses the impacts of the 2004 hurricanes; (2) analyzes the potential of catastrophe bonds--a type of security issued by insurers and reinsurers (companies that offer insurance to insurance companies) and sold to institutional investors--and tax-deductible reserves to enhance private-sector capacity; and (3) describes the approaches that six European countries have taken to address natural and terrorist catastrophe risk, including whether these countries permit insurers to use tax-deductible reserves for such events.
The answer isn't simple, because under tax laws, HRC is considered two organizations in one: a foundation arm, called a 501(c)(3), donations to which are tax-deductible, and a lobbying arm, called a 501(c)(4), donations to which are not tax-deductible.