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.
For those payments you receive that are qualified dividends, the maximum rate of tax you will pay is 15 percent, while many taxpayers may even qualify to receive the dividends tax free. This is because the law taxes qualified dividends using the same rates that apply to net capital gains. As a result, youâll pay a 15-percent tax on qualified dividends only if the taxable income you report puts you in the 25-percent tax bracket or higher. If your tax bracket is lower, you receive the qualified dividends tax free.