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Lodgement (finance)
In Ireland a lodgement is an amount lodged to a bank account or paid into a bank account via a "lodgement slip" or "paying in" slip. In India a lodgement is commonly used for proofs of tax deduction. A "lodgement vendor" is one who will verify proofs (rental receipts, medical receipts) to ensure that they are eligible for deduction as per the rules of Income Tax in India. In Australia the electronic placing of personal tax returns with the authorities is described as the electronic lodgment (note: alternative spelling) of tax returns. , Australian Taxation Office, Retrieved 2013-10-23 References Personal finance {{business-term-stub ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anglo Irish Bank
Anglo Irish Bank was an Republic of Ireland, Irish bank headquartered in Dublin from 1964 to 2011. It began to wind down after nationalisation in 2009. In July 2011 Anglo Irish merged with the Irish Nationwide Building Society, forming a new company named the Irish Bank Resolution Corporation. Michael Noonan (Fine Gael politician), Michael Noonan, the Minister for Finance (Ireland), Minister for Finance stated that the name change was important in order to remove "the negative international references associated with the appalling failings of both institutions and their previous managements". Anglo Irish mainly dealt in business and commercial banking, and had only a limited retail presence in the major Irish cities. It also had wealth management and treasury divisions. Anglo Irish had operations in Austria, Switzerland, the Isle of Man, the United Kingdom, and the United States. The bank's heavy exposure to property lending, with most of its loan book being to builders and pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Deduction
Tax deduction is a reduction of income that is able to be taxed and is commonly a result of expenses, particularly those incurred to produce additional income. Tax deductions are a form of tax incentives, along with exemptions and tax credits. The difference between deductions, exemptions, and credits is that deductions and exemptions both reduce taxable income, while credits reduce tax. Above and below the line Above and below the line refers to items above or below adjusted gross income, which is item 37 on the tax year 2017 1040 tax form. Tax deductions above the line lessen adjusted gross income, while deductions below the line can only lessen taxable income if the aggregate of those deductions exceeds the standard deduction, which in tax year 2018 in the U.S., for example, was $12,000 for a single taxpayer and $24,000 for married couple. Limitations Often, deductions are subject to conditions, such as being allowed only for expenses incurred that produce current benefits. C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Tax
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income. The tax rate may increase as taxable income increases (referred to as graduated or progressive tax rates). The tax imposed on companies is usually known as corporate tax and is commonly levied at a flat rate. Individual income is often taxed at progressive rates where the tax rate applied to each additional unit of income increases (e.g., the first $10,000 of income taxed at 0%, the next $10,000 taxed at 1%, etc.). Most jurisdictions exempt local charitable organizations from tax. Income from investments may be taxed at different (generally lower) rates than other types of income. Credits of various sorts may be allowed that reduce tax. Some jurisdicti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Returns
A tax return is the completion of documentation that calculates an entity or individual's income earned and the amount of taxes to be paid to the government or government organizations or, potentially, back to the taxpayer. Taxation is one of the biggest sources of income for the government. There are two types of taxes—direct and indirect—which are both parts of the tax revenue. Tax revenue is the income gained by government from taxes that are levied on income, profit, goods and services, land revenue, ownership, and transfer of property, and other taxes. Total tax revenue calculated as a percentage of GDP shows the share of the country’s output collected by the government through taxes. Tax revenue is used by governments to grant sums of money to communities, the military, education, hospitals, and infrastructure. In the United States the Internal Revenue Service (IRS) administers federal tax laws. It is a government entity that fulfils three main functions. Firstly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
