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  2. Are Health Insurance Premiums Tax Deductible? - AOL

    www.aol.com/health-insurance-premiums-tax...

    The portion of the premium that you pay is often deducted from your payroll expenses, meaning you’re paying the premium with pre-tax money. If your premiums are paid with pre-tax money, you can ...

  3. Internal Revenue Code section 132(a) - Wikipedia

    en.wikipedia.org/wiki/Internal_Revenue_Code...

    A Qualified Employee Discount is defined in Section 132(c) as any employee discount with respect to qualified property or services to the extent the discount does not exceed (a) the gross profit percentage of the price at which the property is being offered by the employer to customers, in the case of property, or (b) 20% of the price offered for services by the employer to customers, in the ...

  4. Per diem - Wikipedia

    en.wikipedia.org/wiki/Per_diem

    In addition, truck drivers have a special way of calculating a tax deduction for per diem. All drivers who are subject to USDOT hours of service are eligible. As of October 1, 2009, the per diem rate is $59 per day, and they may deduct 80% of this amount from their taxable income. [13]

  5. These tax moves are most likely to trigger an audit - AOL

    www.aol.com/article/finance/2020/02/28/these-tax...

    These often turn up under the medical expenses tax deduction, charitable contribution deduction, or even gambling loss deductions. Some medical expenses, for instance, are partly tax-deductible.

  6. Break (work) - Wikipedia

    en.wikipedia.org/wiki/Break_(work)

    There are different types of breaks, and depending on the length and the employer's policies, the break may or may not be paid. Meal breaks, tea breaks, coffee breaks, lunch breaks or smoko usually range from ten minutes to one hour. Their purpose is to allow the employee to have a meal that is regularly scheduled during the work day.

  7. Retirees 65 and Older Eligible for Extra Standard Deduction ...

    www.aol.com/retirees-65-older-eligible-extra...

    A married couple of two 65+ adults would take a total deduction of $27,700 (standard deduction) plus $1,500 for one 65+ adult plus $1,500 for second 65+ adult — a total of $30,700.

  8. Payroll tax - Wikipedia

    en.wikipedia.org/wiki/Payroll_tax

    The tax is paid by employers based on the total remuneration (salary and benefits) paid to all employees, at a standard rate of 14% (though, under certain circumstances, can be as low as 4.75%). Employers are allowed to deduct a small percentage of an employee's pay (around 4%). [7] Another tax, social insurance, is withheld by the employer.

  9. Public policy limitation on deduction for business expenses

    en.wikipedia.org/wiki/Public_Policy_Limitation...

    For example, § 162(c)(1) disallows a deduction for illegal bribes or kickbacks to a domestic government official or agency, and § 162(f) disallows a deduction for fines paid to the government for violating the law. Furthermore, § 280E prevents a taxpayer from taking a deduction related to the business of selling illegal controlled substances.