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The Senate Finance bill limits the deductibility of outsized medical bills making them deductible only to the extent they exceed 10% of a family's adjusted gross income, up from 7.5% under the current law.
Besides, Congress stripped away the deductibility of personal travel for executives in 2004 by allowing companies to deduct from taxes only the rough amount of a first-class ticket, far less than private jet travel costs.
If the deductibility of the HSA is attractive, making all health insurance premiums fully deductible is more so.
Nevertheless, the deductibility test is not always clear.
And there are different income tax regulations relating to the deductibility of meals and other issues".
In 1962, it placed limits on the deductibility of business entertainment generally.
Similar(11)
Not mentioned was eliminating the tax deductibility of corporate advertising.
The sector's principal competitive advantage has always been the tax deductibility of debt.
It takes aim at the tax deductibility of interest payments on debt.
In fact, many of our foreign competitors still allow the tax deductibility of foreign bribes.
Corporate finance everywhere is skewed by the tax deductibility of interest, which encourages excessive leverage.
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CEO of Professional Science Editing for Scientists @ prosciediting.com