income deduction
41Standard deduction — The standard deduction, as defined under United States tax law, is a dollar amount that non itemizers may subtract from their income and is based upon filing status. It is available to US citizens and resident aliens who are individuals, married… …
42Qualified Performing Artist Deduction — In United States tax law, certain performing artists are eligible to deduct the expenses incurred in the course of their employment by § 62(a)(2)(B) of the Internal Revenue Code. This is an “above the line” deduction, meaning that it is used… …
43Taxation of illegal income in the United States — In the United States, the Internal Revenue Code (IRC) was enacted by the U.S. Congress in part for the purpose of taxing net income. [ Commissioner v. Tellier , 383 U.S. 687, 691, 86 S. Ct. 1118, 66 1 U.S. Tax Cas. (CCH) paragr. 9319 (1966).] The …
44Above the line deduction — In the United States, an above the line deduction is a term used to describe those deductions which the Internal Revenue Service allows a taxpayer to subtract from his or her gross income. These deductions are set forth in Internal Revenue Code… …
45Decedent (IRD) Deduction — The decedent or IRD deduction stands for Income in Respect of a Decedent deduction. It is an IRS term that refers to inherited income that is subject to federal income tax. It refers to income which was earned by the decedent during his or her… …
46Registered Retirement Savings Plan Deduction - RRSP Deduction — The amount that a Canadian taxpayer contributes to his or her RRSP. This amount can be deducted from the taxpayer s annual income to arrive at his or her taxable income for the year. The RRSP deduction amount is found on line 208 of the annual… …
47standard deduction — see deduction Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. standard deduction …
48Limits on Depreciation Deduction — Section 280F [http://frwebgate.access.gpo.gov/cgi bin/getdoc.cgi?dbname=browse usc docid=Cite:+26USC280F Sec. 280F Limitation on depreciation for luxury automobiles; limitation where certain property used for personal purposes] , Internal Revenue …
49foreign tax deduction — foreign tax credit or deduction A U.S. citizen or resident who incurs or pays income taxes to a foreign country on income subject to U.S. tax may be able to claim some of these taxes as a deduction or a credit against the U.S. income tax. I.R.C.… …
50foreign tax credit or deduction — A U.S. citizen or resident who incurs or pays income taxes to a foreign country on income subject to U.S. tax may be able to claim some of these taxes as a deduction or a credit against the U.S. income tax. I.R.C. No.No. 27 and 901 905 + foreign… …
