Issue Is there a business deduction for expenses incurred in marijuana related enterprises? Related Tax Rules or Regulations Internal Revenue Code Section 61 Internal Revenue Code Section 280E Prior to 1982, an illegal business was able to reduce its revenue…
As well as the trade provisions that were the bill’s focus, the Trade Preferences Extension Act of 2015 (H.R. 1295), signed into law in June of 2015, contains provisions regarding tax law. The Act revises several Tax Code provisions, and…
What can taxpayers deduct from their mortgage payments? What portion of a payment consisting of principal, interest, taxes and insurance, if any, is deductible? To deduct the expenses of owning a home, at least those costs paid in your mortgage…