1. As with the Armey flat tax, interest and dividend income would be untaxed and immediate tax deductions could be taken for business purchases. 2. Assuming you have a space that meets these qualifications, you may still have trouble taking the deduction if you work anyplace else. 3. Be careful about taking deductions for events. 4. A third would permit artists to make donations of literary, musical, or scholarly works to nonprofit institutions and take tax deductions at their full market value. 5. Aczel said that his intent was not to encourage people to take improper deductions. 6. But one of the most popular of these sites, iGive.com, now says shoppers at its site may be able to take that deduction after all. 7. But while companies take tax deductions, they do not count options as expenses to be subtracted from earnings at the time they are granted. 8. But what does that mean to the millions of taxpayers who have been taking the deduction? 9. But you can take the deduction only during the first five years of repaying the loan. 10. Can I still take a deduction on my income tax return? |