Small Business Expenses that are Tax Deductible

Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business is operated to make a profit. What Can I Deduct? To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one...

Getting A Home Equity Loan Tax Deduction

"Home equity loan become very popular among people because of its low interest rates and the rising of the values of properties. Home equity loans have lots of advantages over other loan type. One of these advantages is that the interest rates of home equity loans are very...

MoneyLine By Neil Downing: Few Taxpayers Can Claim Medical Expenses.

"Question: I see my [general practitioner] every three months, have blood work done every three months, and take a number of prescription medicines on a daily basis. Can I deduct any of this on my tax return? — B.C., Warwick Answer: You can try, but you’d be among the...

Even Autonomous bodies of States are subject to TDS!

"Even Autonomous bodies of States are subject to TDS! Advanced Topic Is Panchayat Udyog exempt from Income Tax, if yes on what grounds, If there is any section/direction/ notification, kindly give detail, TDS has been deducted wrongly by some dept. on furniture supplied by...