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2. Commissioner of Taxation v La Rosa - Wikipedia

   en.wikipedia.org/wiki/Commissioner_of_Taxation_v...

   The court upheld two earlier rulings that Frank La Rosa, a convicted heroin dealer, was entitled to a tax deduction of $220,000 for money stolen from him during a drug deal. As a result of the decision, the federal government amended the Income Tax Assessment Act 1997 to prevent similar deductions being made.

3. Are Health Insurance Premiums Tax Deductible? - AOL

   www.aol.com/finance/health-insurance-premiums...

   Plus, if you plan to claim additional medical and dental expense deductions, you will need to itemize your deductions. A tax professional can help ensure you file your taxes correctly, and they ...

4. What Is a Tax Deduction and How Do Tax Deductions Work? - AOL

   www.aol.com/finance/tax-deduction-tax-deductions...

   Tax deductions lower your taxable income, which reduces the amount of income tax you’re required to pay. Most tax deductions are expenses that you pay either to generate income or provide a ...

5. Don't Forget To Claim Drug Dealing Income on Your Taxes - AOL

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6. Tax deduction - Wikipedia

   en.wikipedia.org/wiki/Tax_deduction

   A tax deduction or benefit is an amount deducted from taxable income, usually based on expenses such as those incurred to produce additional income. Tax deductions are a form of tax incentives, along with exemptions and tax credits. The difference between deductions, exemptions, and credits is that deductions and exemptions both reduce taxable ...

7. Taxation of illegal income in the United States - Wikipedia

   en.wikipedia.org/wiki/Taxation_of_illegal_income...

   A person with income from selling a Schedule I substance is allowed to take a tax deduction for the cost of goods sold but not any other tax deductions. [19] [21] Unlike for other business activities, tax deductions are not allowed for ordinary and necessary business expenses such as rent, utilities, and advertising. [22]

8. 15 Self-Employment Tax Deductions You Should Know - AOL

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   Here’s the top 15 self-employment tax deductions that you might qualify for: Common Tax Deductions. Here are a few of the most common self-employment tax deductions: 1. Self-Employment Tax Deduction

9. Itemized deduction - Wikipedia

   en.wikipedia.org/wiki/Itemized_deduction

   Either state income tax or state and local general sales taxes paid during the tax year, but not both. Property taxes, including vehicle registration fee, if assessed by reference to the value of the property. This amount is in addition to the previous choice of either income or sales tax. but not including: Use taxes; Excise taxes; Fines or ...