Search results for keyword: deductions
Prepaid expenses
Definition
Deferred expenses, also known as prepaid expenses or prepayments, are costs for goods and services that have been paid for prior to the recognition of an expense in the current period. Deferred expenses are recorded as an asset, then amortized or written-off over the course of multiple......
12/07/2023 
1039 
Liam
tax avoidance planning
Tax avoidance is a way for companies or individuals to pay less taxes than required by the law. It is a process that involves restructuring one’s finances in a way that is not illegal, but takes advantage of loopholes in the tax code to minimize one’s tax liabilities. Many methods of tax avoidan......
tax avoidance effect
The tax avoidance effect
Tax avoidance is a practice used by individuals and organizations to legally reduce their tax liabilities by taking advantage of tax incentives provided by the government. The general principle of tax avoidance is that taxpayers should look for ways to minimize their tax ......
real estate income
Income from real estate is a relatively stable and attractive income source for many people. Many people are attracted to the potential profits from owning a piece of real estate, but there are also risks to be aware of.
Income from real estate can come from several different sources, including ......
Appropriate funds
Special Funds Allocation
The concept of a special funds allocation has become increasingly common in both the public and private sectors. It refers to the process of setting aside a specific budget for a particular purpose, such as research, development, or capital projects. This special funding ......
untaxed income
Income which is not subject to tax is not subject to taxation. This income includes gifts and inheritances, gifts from friends and family, income from investments and other sources, as well as income from certain government sources that are not considered taxable.
Gifts are generally not taxed b......
No itemized credit limit
With more and more taxes being imposed on the public, tax deduction has become increasingly in favor. Tax deduction can save taxpayers a large sum of money and reduce their financial burden. Although the tax deduction limits are different in different countries, its benefits are immense.
Tax dedu......
super progressive tax rate
Superimposed Tax Rate
Superimposed taxes are a type of tax that is additional to an already existing tax. For example, while a standard corporate income tax rate might be ten percent, a superimposed tax of five percent might be added on top of that rate, bringing the total tax owed to fifteen per......
Excess progressive tax rate
Excess Progressive Tax Rates
The excess progressive tax rates is a type of taxation system applied in many countries whereby taxes are charged based on an individuals or companys income or assets. The excess progressive taxation system involves greater tax rates as an individual or companys incom......
super progressive tax rate
Progressive tax is a style of taxation in which people with higher incomes pay higher fees. It is largely used as a way to distribute wealth, as it takes a larger portion of income from those who have it, and then puts it into services, such as health and education, which benefit all.
The progres......
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