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The Latest Breaking News from Tax Deduction

Give gun owners a tax break for getting rid of their weapons

The tax code should be amended so those who legally own a firearm can turn it in and receive a tax deduction on their federal income tax return.

Chicago Sun-Times

Tax deduction period extended for health foundation donations

The cabinet has extended the double tax deduction period for another two years for contributions made to 13 public health foundations via E-donation.

Bangkok Post

Big write-offs, tax-cut perks: Key takeaways from Trump’s tax returns

WASHINGTON — Massive losses and large tax deductions in Donald Trump’s returns reveal how the former president was able to use the tax code to minimize his income tax payments.

Tribune News Service

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Revenue chief calls for tax measure rejig

Some long-standing tax deduction and tax benefit measures should be reviewed, says Revenue Department director-general Lavaron Sangsnit.

Bangkok Post

Test vote on 'chips-plus' bill teed up in Senate - Roll Call

Senate Majority Leader Charles E. Schumer pledged to move ahead with a procedural vote Tuesday afternoon on the semiconductor bill.

Roll Call

Union Station: California’s Workers Tax Fairness Credit would be the first tax credit for union dues in the U.S.

A California bill related to the state’s 2022-2023 budget includes a proposed tax credit for union dues. Once implemented, the tax credit would be the first of its kind in the U.S. Union dues are currently tax-deductible in California and some other states. (A tax deduction lowers a person’s taxable…

Ballotpedia

Preparing your tax return? Here are the COVID-19 tax deductions you may not have heard about

The clock is ticking towards the end of the financial year, which means it's time to start preparing your tax return. Here are some COVID-era deductions.

The New Daily

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How to make the most of work-related expenses as tax time approaches

With the end of the financial year fast approaching it's time to turn your mind to maximising work-related tax deductions.

The New Daily

Colorado legislature refers school meal program funded by tax deduction cap and ballot law measures to voters before adjourning

The Colorado Legislature put two statutory measures on the Nov. 8 ballot before adjourning on May 11.

Ballotpedia

Cabinet okays Covid-related tax cuts

The cabinet on Tuesday approved extending tax measures for individuals and companies that donate to the government; import medicines, medical supplies and medical equipment for public charity; and buy antigen test kits (ATK) for their employees.

Bangkok Post

Home Office Tax Deduction: Work-from-Home Write-Offs

Can you claim the home office tax deduction this year?

Kiplinger

Seven Overlooked Tax Deductions for the Self-Employed

If you've recently gone into business for yourself, don't miss these sometimes overlooked credits and tax deductions for the self-employed.

Kiplinger

Ten Overlooked Tax Deductions and Credits

Don’t miss these often overlooked tax deductions and credits when you file your tax return this year.

Kiplinger

How Charitable Donations Can Reduce Your Taxes

Is claiming a charitable donation tax deduction the right choice for you this tax season?

Kiplinger

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