How Choose From Your Canadian Tax Software Packages
The HVUT, or Heavy Vehicle Use Tax, is a yearly tax paid by truck drivers or owners of trucking companies. It goes for drivers operating cars on our nation's highway, and a number of the money goes towards maintaining roads, alleviating congestion, keeping the roads safe, and funding new creations.
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Remember, a personal exemption of $3650 isn't deducted on tax but on your taxable income. Say for example your filing status is 'married filing jointly' with original taxable income of $100,000. This allows under the marginal tax rate of 25%. So the money you save on personal exemption is $912.50 (calculation is simple: $3650 multiplied by 25%). For appreciate spouse, that will be multiplied by two that means you save $1825.
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Defenders in the IRS position would say it comes home to Section 61. The waitress provided a service for me, and I paid hard. Compensation for services is taxable. End of new.
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