Tax Deductible Item
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Tax deduction - A tax deduction or a tax-deductible expense, is an item which is subtracted from gross income in order to arrive at the taxable income.
Tax exempt status - In the United States, tax exempt status is a status granted to non-profit organization, such as churches and charities by the IRS, in reference to income tax. Organizations which resell goods may be exempt from sales tax because they charge sales tax when they sell the item.
Tax credit - Within the Australian, Canadian, United Kingdom, and United States tax systems, a tax credit is an item which is treated as a payment already made towards taxes owed. A similar concept exists under different names in the French tax system.
Tax treaty - Tax treaties exist between many countries on a bilateral basis to prevent double taxation (taxes levied twice on the same income, profit, capital gain, inheritance or other item).
taxdeductibleitem
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