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Tax Deductions?
salenacaitlyn
post Apr 27 2010, 01:51 PM
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can you have more in tax deductions than what you made for one year. i own a buisness and have alot of deductions. i think it might be more than what the buisness made this last year.


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milesmaxx
post Sep 5 2013, 12:35 AM
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Tax deduction is a reduction of the income subject to tax, for various items, especially expenses incurred to produce income.
Tax deductions generally are allowed only for expenses incurred that produce current benefits, and capitalization of items producing future benefit is required, sometimes with exceptions. Most systems allow recovery in some manner over a period of time of capitalized business and investment items, such as through allowances for depreciation, obsolescence, or decline in value.

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ankitwebspy
post Nov 19 2013, 10:45 PM
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A levy deduction of total cost is easy something you have bought that the levy agency sees as being certain thing you can take away from your total annual profits when calculating levy.


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