The 7.5 hours in the classroom are just the starting point. On average, teachers are at school an additional 90 minutes beyond the school day for mentoring, providing after-school help for students, attending staff meetings and collaborating with peers.
True Tax Lease Vs Non-Tax Lease. The true lease offers all of the primary benefits commonly attributed to leasing. It is a tax-oriented lease in which the Lessor claims the tax benefits of ownership through depreciation deductions, but passes through to the Lessee those benefits in the form of reduced rentals. The Lessor owns the leased equipment for the life of the contract.
IRC section 132(d) allows employers to offer a tax-free working condition fringe benefit for any business-related expense that employees could deduct on their individual tax returns under IRC section 162 if they themselves paid it. CPAs must look to section 162 for guidance on using this alternative.