The Latest Breaking News from Tax Deduction

The office of the IRS Chief Counsel released a memo Friday saying donations made to nonprofit NIL collectives “are not tax exempt”.

June – the winter solstice, the bare London plane trees in our street briefly not dropping stuff of one type or another, the (optimistic) start of the ski

WASHINGTON — Massive losses and large tax deductions in Donald Trump’s returns reveal how the former president was able to use the tax code to minimize his income tax payments.

Food-relief centres are a vital part of helping feed people in poverty. But what are the consequences of tax deductions incentivising supermarket waste?

Some long-standing tax deduction and tax benefit measures should be reviewed, says Revenue Department director-general Lavaron Sangsnit.

elmaxo spent hundreds of dollars on a ‘collector’s phlogistinator’ for a video and believes the ATO should accept it as a work expense.

Tax deductions lower your taxable income and the amount of income tax you have to pay. Explore some of the most popular deductions here.

Senate Majority Leader Charles E. Schumer pledged to move ahead with a procedural vote Tuesday afternoon on the semiconductor bill.

A California bill related to the state’s 2022-2023 budget includes a proposed tax credit for union dues. Once implemented, the tax credit would be the first of its kind in the U.S. Union dues are currently tax-deductible in California and some other states. (A tax deduction lowers a person’s taxable…