ITAT Ahmedabad held that amount written-off towards non-recoverable advances given to employees which are incidental to business operations qualifies as deductible business expenses under section 37 ...

Learn about the best tax write-offs for small businesses and self-employed individuals to maximize your deductions and reduce ...

If you have a mortgage, you'll probably receive an IRS Form 1098 in the mail. Your mortgage lender is required to use this ...

Before christmas, there's a big push to help children in need receive presents here in the u-s and around the world.And now ...

Representative Greg Steube (R-FL) appeared on Fox Business to discuss his bill, The Federal Disaster Tax Relief Act of ...

The prime minister ends 2024 in a dire position for a leader who must call an election soon. But don’t underestimate a master ...

ITAT Hyderabad held that once the debt has been written off in the books of accounts as irrecoverable, assessee is not required to prove that the debt had become bad or not. Accordingly, deduction for ...

I’m ticked off that most elected officials seem to find new ways to spend our tax dollars. Why not look for more ways to reduce our taxes and give us a break, or if you have taken in surplus ...

President-elect Donald Trump surprised Washington by picking someone to lead the IRS who has little experience with tax policy or large ... so it doesn’t come off when I’m sleeping,” he ...

Understanding the basics of what expenses you can deduct is important whether you decide to file a return on your own or hire a tax advisor to help guide you through it. Here are some of the most ...

“After write-off, banks are supposed to continue their efforts to recover the loan using various options. They have to make provisioning also. The tax liability will also come down as the written off ...

Tax write-offs allow businesses to reduce taxable income by recognizing asset impairments. Common write-offs include unpaid bank loans, overdue accounts, and damaged inventories. Write-offs ...