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Thestudent loan interest deductionis only available to the person who is legally responsible for paying the student loan. So, if a parent or someone else pays your student loan for you, you can still claim the deduction if you’re the one who’s legally obligated to pay off the loan. If...
Employees: In Singapore, an individual who is serving a contract of service is considered an employee. This means that the person is entitled to receive a regular salary and incentives and is under the rule of an employer. The self-employed: A self-employed individual in Singapore is the one...
But if you’d rather go it alone, you can figure out how much you’re expected to pay in income tax by converting your salary into Baht — Thailand’s official currency — and comparing it to this income tax chart. If you’re in the range of 1,000,000 to 2,000,000 Baht, which ...
However, you need to be careful when claiming this deduction in your tax return.Interest on a bank loan or a line of credit from a financial institution would usually be deductible. But if you’ve borrowed money from your wife or a friend, the IRS is likely to look at the transaction ...
1. Benefiting from Home Office Tax Deduction It’s not uncommon to encounter fraudulent activities related to home office deductions. The allure of claiming unwarranted expenses as deductions can be strong. The IRS sets strict guidelines for the home office deduction, limiting it to individuals who...
Gross Salary Range (Approx) X Cities 79,473 Y Cities 75,432 Z Cities 71,391 SSC CGL Income Tax Officer Job Responsibilities An Income tax officer can have two types of work profiles that are transferable on a cyclic basis. Work related to the assessment of tax or non-assessment of tax....
Multiply the figure by 130% to get the additional deduction to put into your tax computations Add this to the original R&D expenditure figure to get the enhanced figure which you can enter into your tax return You can use the online service to send HMRC details to support your claim. You’...
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The alternative to a standard deduction is the itemized deduction. This option allows taxpayers to accumulate certain types of eligible expenses and opt to deduct the total allowable amount of these expenses instead of the standard deduction. These types of expenses include charitable contributions, mor...