life insurance where you are directly or indirectly the beneficiary including policies you take out on yourself to secure a loan for your business loss-of-earnings insurance that pays for lost earnings due to sickness or disability Interest Generally, you can deduct all of the interest you pay d...
Temporary disability, such as an injury, serious medical condition, or even pregnancy, can be covered by short-term disability payments obtained through private insurers, state insurance programs and they may be part of an employer's compensation to empl
There are exceptions for certain circumstances, such as disability or medical expenses. Before you take an early withdrawal, be sure your situation qualifies as an exception. In addition to creating penalties, early withdrawals can significantly diminish your retirement savings. Explore other option...
If you’re purchasing a new vehicle, you will need to pay car tax based on the new system that came into place from April 2021 onwards. It’s also worth noting that if you drive an Electric Vehicle, you are exempt from paying car taxuntil April 2025as your car has zero emissions. Ho...
Auto insurance, yes if the company owns the car. Health insurance, yes and added to W2 Box 1. Dental insurance, yes and added to W2 Box 1. Eye insurance, yes and added to W2 Box 1. Long Term Care insurance, yes, but limited. Disability insurance, No. Otherwise, your benefits become...
There are exceptions to the time test in case of armed forces service, death, disability and involuntary separation. Deductible Moving Expenses There are only two categories of expenses you can deduct: Moving your household items (including in-transit or foreign-move storage expenses). This includes...
Some individuals might be eligible for an increase in their standard deduction based on age or disability. Taxpayers who are age 65 and older or blind are entitled to an additional deduction of $1,300 if you're married or a qualifying widow(er) and $1,650 if you're single o...
Her salary structure is that her salary as a cash amount and travel allowance on her payslip as well her medical aid, disability, provident, Income protection insurance and ancillary fee but her IRP5 does not show the above on her IRP5?
If you’re suffering from a disability, make absolutely sure that you have completed an ITR-DD form which has been signed off by your doctor within the past 10 years if the disability is permanent and 1 year if the disability is temporary. Taxpayers who are under 65 years old and have ...
The U.S. government imposes federal taxes on income using tax rates that go up as your income increases. As your income goes up, you may be pushed into a new income bracket.