P-l-e-a-s-e- -a-n-s-w-e-r- -t-h-e- -f-o-l-l-o-w-i-n-g- -b-a-s-e- -i-n- -P-h-i-l-i-p-p-i-n-e- -i-n-c-o-m-e- -T-a-x-a-t-i-o-n: W-h-e-n- -i-s- -a-n- -e-d-u-c-a-t-i-o-n-a-l- -i-n-s-t-i-t-u-t-i-o-n- -e-x-e-m-p-t- -f-r-o-m- -i-n-c-o-m-e- -t-a-x-? S-t-a-t-e- -t-h-e- -r-u-l-e-s- -w-h-e-n- -a- -s-e-n-i-o-r- -c-i-t-i-z-e-n-'-s- -i-n-c-o-m-e- -i-s- -n-o-t- -s-u-b-j-e-c-t- -t-o- -i-n-c-o-m-e- -t-a-x. A-r-e- -p-r-i-z-e-s- -t-o- -b-e- -a-w-a-r-d-e-d- -t-o- -i-n-d-i-v-i-d-u-a-l- -i-n-v-e-n-t-o-r- -s-u-b-j-
P-l-e-a-s-e- -a-n-s-w-e-r- -t-h-e- -f-o-l-l-o-w-i-n-g- -b-a-s-e- -i-n- -P-h-i-l-i-p-p-i-n-e- -i-n-c-o-m-e- -T-a-x-a-t-i-o-n:
W-h-e-n- -i-s- -a-n- -e-d-u-c-a-t-i-o-n-a-l- -i-n-s-t-i-t-u-t-i-o-n- -e-x-e-m-p-t- -f-r-o-m- -i-n-c-o-m-e- -t-a-x-?
S-t-a-t-e- -t-h-e- -r-u-l-e-s- -w-h-e-n- -a- -s-e-n-i-o-r- -c-i-t-i-z-e-n-'-s- -i-n-c-o-m-e- -i-s- -n-o-t- -s-u-b-j-e-c-t- -t-o- -i-n-c-o-m-e- -t-a-x.
A-r-e- -p-r-i-z-e-s- -t-o- -b-e- -a-w-a-r-d-e-d- -t-o- -i-n-d-i-v-i-d-u-a-l- -i-n-v-e-n-t-o-r- -s-u-b-j-e-c-t- -t-o- -t-a-x-?- -W-h-y-?
W-h-a-t- -i-s- -a- -B-a-r-a-n-g-a-y- -M-i-c-r-o- -B-u-s-i-n-e-s-s- -E-n-t-e-r-p-r-i-s-e-?-
G-i-v-e- -e-x-a-m-p-l-e-s- -o-f- -t-h-e- -t-a-x-a-b-l-e- -i-n-c-o-m-e- -o-f- -a- -c-o-o-p-e-r-a-t-i-v-e-.
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P-l-e-a-s-e- -a-n-s-w-e-r- -t-h-e- -f-o-l-l-o-w-i-n-g- -b-a-s-e- -i-n- -P-h-i-l-i-p-p-i-n-e- -i-n-c-o-m-e- -T-a-x-a-t-i-o-n: (a-s- -m-u-c-h- -a-s- -p-o-s-s-i-b-l-e- -p-l-e-a-s-e- -s-t-a-t-e- -a- -p-r-o-v-i-s-i-o-n)
W-h-a-t- -a-r-e- -t-h-e- -r-e-q-u-i-s-i-t-e-s- -f-o-r- -b-a-d- -d-e-b-t-s- -e-x-p-e-n-s-e- -t-o- -d-e-d-u-c-t-i-b-l-e- -f-r-o-m- -g-r-o-s-s- -b-u-s-i-n-e-s-s- -i-n-c-o-m-e-?-
W-h-a-t- -a-r-e- -t-h-e- -r-e-q-u-i-s-i-t-e-s- -o-f- -a- -d-e-d-u-c-t-i-b-l-e- -d-e-p-r-e-c-i-a-t-i-o-n- -e-x-p-e-n-s-e-?
S-t-a-t-e- -t-h-e- -c-o-n-s-e-q-u-e-n-c-e-s- -i-f- -a- -v-e-h-i-c-l-e- -i-s- -a-c-q-u-i-r-e-d- -e-x-c-e-e-d-i-n-g P2,400,000 t-o- -b-e- -u-s-e-d- -b-y- -a-n- -e-m-p-l-o-y-e-e-.
S-t-a-t-e- -t-h-e- -r-u-l-e-s- -f-o-r- -d-e-p-r-e-c-i-a-t-i-n-g- -p-r-o-p-e-r-t-i-e-s- -u-s-e-d- -i-n- -p-e-t-r-o-l-e-u-m- -o-p-e-r-a-t-i-o-n-s.
S-t-a-t-e- -t-h-e- -r-u-l-e-s- -f-o-r- -d-e-p-r-e-c-i-a-t-i-n-g- -p-r-o-p-e-r-t-i-e-s- -u-s-e-d- -i-n- -m-i-n-i-n-g- -o-p-e-r-a-t-i-o-n-s-.
by Bartleby ExpertP-l-e-a-s-e- -a-n-s-w-e-r- -t-h-e- -f-o-l-l-o-w-i-n-g- -b-a-s-e- -i-n- -P-h-i-l-i-p-p-i-n-e- -i-n-c-o-m-e- -T-a-x-a-t-i-o-n: (a-s- -m-u-c-h- -a-s- -p-o-s-s-i-b-l-e- -p-l-e-a-s-e- -s-t-a-t-e- -a- -p-r-o-v-i-s-i-o-n)
W-h-e-n- -i-s- -s-a-l-a-r-y- -e-x-p-e-n-s-e- -d-e-d-u-c-t-i-b-l-e-?
I-s- -c-o-m-p-e-n-s-a-t-i-o-n- -f-o-r- -i-n-j-u-r-i-e-s- -a-n-d- -p-e-n-s-i-o-n-s- -d-e-d-u-c-t-i-b-l-e- -f-r-o-m- -b-u-s-i-n-e-s-s- -i-n-c-o-m-e- -o-f- -p-a-y-o-r-?-
W-h-a-t- -a-r-e- -t-h-e- -t-a-x- -t-r-e-a-t-m-e-n-t-s- -i-f- -m-a-t-e-r-i-a-l-s- -a-n-d- -s-u-p-p-l-i-e-s- -a-r-e- -u-s-e-d- -d-i-r-e-c-t-l-y- -a-n-d- -i-n-d-i-r-e-c-t-l-y- -i-n- -p-r-o-d-u-c-i-n-g- -p-r-o-d-u-c-t-s-?-
S-t-a-t-e- -t-h-e- -r-u-l-e-s- -o-n- -t-h-e- -d-e-d-u-c-t-i-b-i-l-i-t-y- -o-f- -r--e-n-t- -e-x-pe-n-s-e-s- -a-r-e- -p-a-i-d- -u-n-d-e-r- -a-c-c-r-u-a-l- -a-n-d- -u-n-d-e-r- -c-a-s-h- -m-e-t-h-o-d.-
S-t-a-t-e- -t-h-e- -c--e-i-l-i-n-g-s- -f-o-r- -d-e-du-c-t-i-b-l-e- -r-e-p-r-e-s-e-n-t-a-t-i-o-n- -e--xp-e-n-s-e-s-.-
by Bartleby ExpertP-l-e-a-s-e- -a-n-s-w-e-r- -t-h-e- -f-o-l-l-o-w-i-n-g- -b-a-s-e- -i-n- -P-h-i-l-i-p-p-i-n-e- -i-n-c-o-m-e- -T-a-x-a-t-i-o-n: (a-s- -m-u-c-h- -a-s- -p-o-s-s-i-b-l-e- -p-l-e-a-s-e- -s-t-a-t-e- -a- -p-r-o-v-i-s-i-o-n)
G-i-v-e- -t-h-e- -b-a-s-i-c- -f-o-r-m-a-t- -i-n- -t-h-e- -t-a-x- -r-e-t-u-r-n- -t-o- -c-o-m-p-u-t-e- -t-h-e- -n-e-t- -t-a-x-a-b-l-e- -i-n-c-o-m-e- -o-f- -a- -s-e-l-f---e-m-p-l-o-y-e-d- -o-r- -e-m-p-l-o-y-e-d- -i-n-d-i-v-i-d-u-a-l.
I-d-e-n-t-i-f-y- -t-h-e- -d-i-f-f-e-r-e-n-c-e-s- -i-n- -a-p-p-l-i-c-a-t-i-o-n- -o-f- -T-a-x- -L-a-w- -a-n-d- -G-A-A-P- -a-s- -t-o- -r-e-p-o-r-t-a-b-l-e- -r-e-v-e-n-u-e- -a-n-d- -d-e-d-u-c-t-i-b-l-e- -e-x-p-e-n-s-e-s-.-
-D-e-f-i-n-e- -"-b-u-s-i-n-e-s-s- -e-x-p-e-n-s-e-s-."
E-n-u-m-e-r-a-t-e- -t-h-e- -t-a-x-p-a-y-e-r-s- -t-h-a-t- -a-r-e- -a-l-l-o-w-e-d- -t-o- -d-e-d-u-c-t- -O-S-D-.-
C-a-n- -a- -h-u-s-b-a-n-d- -c-l-a-i-m- -O-S-D- -w-h-i-l-e- -t-h-e- -w-i-f-e -c-l-a-i-m- -i-t-e-m-i-z-e-d- -d-e-d-u-c-t-i-o-n-s- -(-v-i-s-e- -v-e-r-s-a-)- -i-n- -t-h-e-i-r- -c-o-n-s-o-l-i-d-a-t-e-d- -I-T-R-?- -J-u-s-t-i-f-y- -y-o-u-r- -a-n-s-w-e-r.
by Bartleby ExpertP-l-e-a-s-e- -a-n-s-w-e-r- -t-h-e- -f-o-l-l-o-w-i-n-g- -b-a-s-e- -i-n- -P-h-i-l-i-p-p-i-n-e- -i-n-c-o-m-e- -T-a-x-a-t-i-o-n: (a-s- -m-u-c-h- -a-s- -p-o-s-s-i-b-l-e- -p-l-e-a-s-e- -s-t-a-t-e- -a- -p-r-o-v-i-s-i-o-n)
E-x-p-l-a-i-n- -t-h-e- -n-a-t-u-r-e- -o-f- -"-d-e-d-u-c-t-i-o-n-s- -f-r-o-m- -g-r-o-s-s- -i-n-c-o-m-e-."
D-i-f-f-e-r-e-n-t-i-a-t-e- -"-r-e-v-e-n-u-e- -e-x-p-e-n-d-i-t-u-r-e-s-"- -f-r-o-m- -"-c-a-p-i-t-a-l- -e-x-p-e-n-d-i-t-u-r-e-s-.-"- -G-i-v-e- -e-x-a-m-p-l-e-s- -f-o-r- -e-a-c-h-.
S-t-a-t-e- -t-h-e- -c-o-n-d-i-t-i-o-n-s- -i-n- -o-r-d-e-r- -t-h-a-t- -c-o-s-t-s- -a-f-t-e-r- -a-c-q-u-i-s-i-t-i-o-n- -o-f- -d-e-p-r-e-c-i-a-b-l-e- -a-s-s-e-t-s- -s-h-a-l-l- -b-e- -c-a-p-i-t-a-l-i-z-e-d-.
S-t-a-t-e- -t-h-e- -r-u-l-e- -r-e-g-a-r-d-i-n-g- -s-i-t-u-s- -o-f- -d-e-d-u-c-t-i-b-l-e- -e-x-p-e-n-s-e-s-.
W-h-a-t- -a-r-e- -t-h-e- -i-t-e-m-s- -o-f- -e-x-p-e-n-s-e- -t-h-a-t- -a-r-e- -n-o-t- -d-e-d-u-c-t-i-b-l-e- -f-r-o-m- -g-r-o-s-s- -i-n-c-o-m-e-?-
by Bartleby Expert