China has announced tax-relief policies for parents rearing children under 3 years old, according to a State Council circular issued on Monday. Starting Jan 1, 2022, the individual taxable income of such parents can be reduced by a total of 1,000 yuan per month for each baby. The move ad...
Some business tax deductions are fairly uncomplicated. For example, it’s quite clear that you should be allowed to deduct the amount that you spend on workers’ wages. Similarly, interest paid on loans and the rent that you pay for your office are legitimate business expenses. The IRS can’...
Focuses on the tax breaks for small business owners in the United States effected by the Small Business Job Protection Act of 1996. Changes in pension plan rules; Classification of workers for tax purposes; Inclusion of...
A new policy was released in 2021 allowing small business owners to have a value-added tax exemption for a part of annual business revenue worth 150,000 yuan ($21,450), compared with 100,000 yuan in 2020. A 50 percent reduction in the tax was applied to annual sales revenue between 150...
Tax Breaks Help Small and Medium-sized Employers Small and medium-sized employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing coronavirus-related leave to their employees. This ...
Business Tax Deductions: An Overview The Internal Revenue Service (IRS) defines deductible business expenses as those that are "ordinary and necessary" to the business. Of course, the agency backs up that ambiguous phrase with a mountain of rules about deductible expenses.1 ...
"Small business owners are not always well informed, so we need to make all the new policies known to them," the official said. "Even if they are informed, they might not be familiar with the procedures in dealing with tax reduction or rebates. In this case, taxation officials will offer...
You’ll get the latest info about all the newest tax deductions and credits (including COVID-19-related breaks), as well as location-specific incentives and other little-known tips. Show and hide moreTable of contentsProduct information
Small Business Tax Deductions: 29 Popular Breaks Learn how small business tax deductions, how to maximize tax deductions, plus 29 tax deductions and credits you might be overlooking this year. On this page What is a tax deduction? How tax deductions work for small businesses How to maximize ta...
BEIJING, Jan. 9 (Xinhua) -- China has decided to roll out a new batch of inclusive tax-cutting measures for small and micro businesses, with the goal of saving them a total of 200 billion yuan (about 30 billion U.S. dollars) each year. ...