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.
A capital lease is treated like a loan, and the asset is considered owned by the lessee. The tax advantages of operating leases are especially significant for fixed assets such as lighting that are generally depreciated over a very long term (39 years), since the entire lease payment is tax deductible.
Here are some of the more common fringe benefits provided to employees that are taxable: Excessive mileage reimbursements: Payments to an employee for business-related driving in his or her own car that exceed the IRS standard mileage rate are taxable income. Moving expenses.