The IRS allows people who travel for business to deduct their meal expenses from their income. The Per Diem rate is set by the IRS. The current rate (as of October 1, 2015) is $63 per day in the Continental US and $68 per day while in Canada.You may hear the amount of the deduction quoted as $50.40.he IRS allows people who travel for business to deduct their meal expenses from their income. The Per Diem rate is set by the IRS. The current rate (as of October 1, 2015) is $63 per day in the Continental US and $68 per day while in Canada.
Qualified dividend. In the U.S. a qualified dividend is a type of dividend to which capital gains tax rates are applied. These tax rates are usually lower than regular income tax rates. In contrast, ordinary dividends that do not qualify for this tax preference are taxed at an individual's normal income tax rate.
Attention U.S. Expats! Your foreign dividends may be qualified to be taxed at a special lower tax rate. Hereâs how you can know if they are: When you receive dividends from a US corporation, your Form 1099 will specify whether they are qualified dividends or not.Qualified dividends are eligible for a much lower tax rate that of ordinary dividends.n order to be considered âqualifiedâ, dividends received must meet three conditions: 1  The dividends must have been paid by a U.S. corporation or a qualified foreign corporation. 2  The dividends are not of those listed under âDividends that are not qualified dividendsâ. 3  The holding period requirement is met.