Search results
Results From The WOW.Com Content Network
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. ยง 162, for the business use of a vehicle. Under the law, the taxpayer for each year is generally ...
Exports from Kenya pay a 0% rate of VAT. Tax penalties. Late payment or non-payment of taxes attracts an interest rate of 2% per month. However, filing a late monthly payment of VAT requires a charge of 5 percent or $110, whichever is higher. Corporate tax. The Corporate Tax Act was set up to deal with all corporate tax issues.
Per diem. Per diem ( Latin for "per day" or "for each day") or daily allowance is a specific amount of money that an organization gives an individual, typically an employee, per day to cover living expenses when travelling on the employer's business. A per diem payment can cover part or all of the expenses incurred.
Truck drivers get the standard mileage rate of 65.5 cents per mile. This rate increased from 62.5 cents per mile as of January 2023. To figure out your deduction, take the number of miles driven ...
Vermont. Despite a lower sales tax rate, Vermont residents pay a little more than Ohioans to own their cars -- $21,737 over five years, to be exact. The $1,100 annual insurance bill is $357 ...
A few years ago, it appeared any company that required you to drive for your business would just hand over the keys to a new car -- my friends in sales or service seemed to magically have a new ...
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.
The IRS made an announcement this month that is a matter of pennies but could significantly affect some taxpayers' 2010 amount owed; by reducing the allowance for mileage deductions. Claiming the ...