Above the line deduction, Financial Management

Above the line deductions are certain kinds of deductions that are deducted from your income before the adjusted gross income is computed for tax purposes.

Above the line deductions involve items like alimony payments, losses on a property sale and educational expenses. Since above the line deductions are usually subtracted from taxable income, they are beneficial to taxpayers in the sense that they lessen the overall tax burden.

 

 

Posted Date: 7/27/2012 1:32:41 AM | Location : United States







Related Discussions:- Above the line deduction, Assignment Help, Ask Question on Above the line deduction, Get Answer, Expert's Help, Above the line deduction Discussions

Write discussion on Above the line deduction
Your posts are moderated
Related Questions
Rate duration can be defined as the sensitivity of the change in value to a particular change in spot rate. Every point in a spot rate curve has a rate dura

PRC Company, a retailer of baby clothes and toys, has been in existence for 20 years. Its approach to strategy has tended to be informal and emergent rather than planned. However,

I need to prepare a monthly cash flow for a company with the given information, and need to comment on the current performance and the future sales increment. Then we need to find

What are the Limitations of ratio analysis A ratio on its own is meaningless. Accounting ratios should always be interpreted in relation to other information, for illustration:

Entity A is significantly smaller than B in terms of revenue and would not impact LOP's revenue to the same extent. However A earns a noticeably better gross profit margin at 26% a

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

a) Product orientated businesses tend to be produce products and inward looking that they hope will sell in the marketplace. For example, Sony hoped that its $101,500 audio systems

Portfolio Classification of Mutual Funds Mutual Funds differ with reference to the type of instruments in which the money has been invested as per the requirements of the inves

At 31 July 2010 this instrument meets the definition of a derivative: Small or no initial investment. Its value is dependent on an underlying economic item; exchange ra

Working of ASIC ASIC as an independent government body enforces and regulates company and financial services laws to protect consumers, investors and creditors. It keeps the pu