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.
The basis of the stock purchase for that year is $500 (100 shares Ã $5). The stock dividend for 100 shares is $7.50 (100 shares Ã $.75). The dividend of $7.50 is ordinary income to the stockholder and the basis of the stock remains at $500. Qualified Dividends. Qualified dividends are ordinary dividends that qualify for capital gains treatment. This occurs quite often with mutual funds.