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  2. Income tax in Australia - Wikipedia

    en.wikipedia.org/wiki/Income_tax_in_Australia

    This can include for example the reduction in an existing liability. There must be a nexus with an income earning activity, such as income from personal exertion, from a profit making activity or from investment or property. In addition receipts that are of a capital nature, voluntary income and gifts are not classified as ordinary income.

  3. 13 Tax Deductions You Can Take Without Itemizing - AOL

    www.aol.com/13-tax-deductions-without-itemizing...

    For tax year 2023, the IRS allows a deduction of $300 for buying supplies such as books, computer equipment, software licenses, and other teaching materials. The deduction is $600 for joint filers ...

  4. Top Tax Deductions and Tax Credits You Should Know for 2023 - AOL

    www.aol.com/finance/10-tax-deductions-know-2023...

    You can claim a deduction for medical and dental expenses that are greater than 7.5% of your adjusted gross income if you itemize deductions. Qualifying expenses include payments to doctors and ...

  5. Taxes 2023: Here are the biggest tax changes this year - AOL

    www.aol.com/finance/taxes-2023-biggest-tax...

    Charitable deductions must be itemized For taxpayers this year filing their 2022 tax returns, any charitable contributions must be itemized using the Schedule A form to get a deduction.

  6. Constructive receipt - Wikipedia

    en.wikipedia.org/wiki/Constructive_receipt

    The full text of the IRS regulation defining constructive receipt states as follows: [2] Income although not actually reduced to a taxpayer's possession is constructively received by him in the taxable year during which it is credited to his account, set apart for him, or otherwise made available so that he may draw upon it at any time, or so that he could have drawn upon it during the taxable ...

  7. State income tax - Wikipedia

    en.wikipedia.org/wiki/State_income_tax

    Most states allow non-business deductions in a manner similar to federal rules. Few allow a deduction for state income taxes, though some states allow a deduction for local income taxes. Six of the states allow a full or partial deduction for federal income tax. [7] In addition, some states allow cities and/or counties to impose income taxes.

  8. Cut These 6 Expenses To Save $300 a Month in 2025 - AOL

    www.aol.com/finance/cut-6-expenses-save-300...

    Here are six expenses to cut if you want to save around $300 per month. Subscription Services. ... Cut These 6 Expenses To Save $300 a Month in 2025. Show comments. Advertisement.

  9. Tax Cuts and Jobs Act - Wikipedia

    en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act

    The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, [2] Pub. L. 115–97 (text), is a congressional revenue act of the United States originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), [3] [4] that amended the Internal Revenue Code of 1986.