Can I deduct a paid Judgement?

In general, judgements levied on you through a small claims court case are not deductible expenses on your tax return. The IRS allows you to deduct legal fees if you paid the fees in an attempt to produce or collect taxable income, keep your job, for divorce advice or to collect taxable alimony.

Is a remediation payment taxable?

LOS ANGELES—The Internal Revenue Service today explained the tax treatment of settlement payments made to some homeowners in Carson, Calif. to remediate their homes from petroleum contamination. In general, payments and awards are taxable.

When do you have to take deductions for remuneration?

“Deductions and other acts concerning remunerations.- (a) subject to subsection (2), the employee in writing agrees to the deduction in respect of a debt specified in the agreement; or (b) the deduction is required or permitted in terms of a law, collective agreement, court order or arbitration award.

How much can you deduct from remuneration in South Africa?

The other day I stumbled across the Department of Labour’s (DoL) guide to deductions from employees’ remuneration with the following explanation: the total deduction is not more than 25% of the worker’s net pay.”

What can I deduct from my remuneration for damage or loss?

In terms of subsection 2 an employer may deduct from an employee’s remuneration an amount equal to the damage suffered or a loss incurred as a result of the negligent or deliberate behaviour of an employee. There are however certain requirements that must be fulfilled before such a deduction may be made.

Is the Constitutional Court ruling on unilateral deductions unconstitutional?

Court rules law on unilateral deductions to salary, unconstitutional. The Constitutional Court ruled that it is unconstitutional for an employer to make unilateral deductions from an employee’s salary.