The Inland Revenue Board (LHDN) will no longer accept the two per cent tax deduction involving deceased agents, dealers or distributors (Resident Individuals) (EPP), effective Aug 1.In a statement ...

The Senate Finance Committee on Monday released its version of the GOP’s package that calls for enacting sweeping cuts to ...

But unless the expense passes the business purpose test under Section 33 – and is not disallowed under Section 39 – it remains non-deductible. Two legs of deductibility: document and substance ...

Some 'finfluencers' are telling people they can claim their dogs as tax expenses. But in many cases this is simply not true, an accounting body says. The ATO has warned that tax deductions need to ...

Separately, the tax office denied more than $10,000 in deductions claims from one fashion industry worker, who argued their apparel purchases were relevant to the job, along with related dinners ...

For tax years 2018 through 2025, you can deduct interest on the first $750,000 of a home equity loan or HELOC if the funds were used to "buy, build, or substantially improve the residence ...

Because these websites base everything on the IRS tax code and continuously calculate your tax liability, they will tell you whether you’ve hit the 7.5% threshold and can claim a deduction for ...

Under Vietnamese tax law, businesses are allowed to deduct expenses that are necessary for their operations and directly related to their income-generating activities. The Corporate Income Tax Law ...

Drivers who use their vehicles for business purposes may be eligible for a tax deduction on their car insurance and other vehicle-related expenses. Drivers have two options when filing for vehicle ...

In 2020–22, taxpayers could alternatively use the shorter T777S: Statement of Employment Expenses for Working at Home Due to Covid-19, which included a flat-rate method to claim a deduction of $2 per ...

Yes, you can deduct self-employment tax as a business expense. It's actually one of the most common self-employment tax deductions. The self-employment tax rate is 15.3% of net earnings.