What is a tax write off

:konfused:Tax write-offs :confused:

PS:1. I am serious (hard to believe though:D)So I thought it must be in general not in café:chai:
2. Mods or ap ki swabdeed kia hai is silsily main:aq:

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u must have "Tax write-offs" as a title!

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:hmmm: Yeh tu or mushkil bat ker di:(How???

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:D…mera mutlab is thread k baray may tha. mujhay abhi tax writes off k baray may khak pata hai.

btw i think it is different everywhere (i mean country wise)

so i think you are looking for american, and if i am not wrong it is something related to tax return.

wait for X2- wohi tax write-off jin ko balain gay :smiley:

p.s. any one knows. please shed the light on this topic as if they are teaching nalaiq matric pass. :smiley:

Re: What is a tax write off

hmmmm a tax write off in the simplest terms is the deduction of something from taxable income, due to loss e.g. if you have a garment business and have inventory which gets damaged by a fire.. you can write off teh value of the inventory.

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Tumhin kiss ny kaha ky main ny matric pass ker liya hai:aq:
PS::hehe: Title dykha tu bat samjh aai thanks jis ny bhi sahih kia hai or tumhara point out kerny ka:chai:

Re: What is a tax write off

Shubh shubh bolo Allah na kary ky loss hu khyr Main ju samjhi hon Tax Write off means tax bchany ky tareeqy(Am I write:D)Income tax bchany ky Top ten tareeqy batao itna simple nahi tha question not a more than one:(


Re: What is a tax write off

lol no, write-off is actually a term of finance, which means “a cancellation from an account of a bad debt or worthless asset.”

ans simple tareeka to yahi hai

NO INCOME + TAX = NO INCOME TAX :cb:

Re: What is a tax write off

SOS(sobbing Out Sad) Meri English ittni khrab hai Thanks for correction:(

Re: What is a tax write off

Your cell phone bill, internet connection, gifts you give to clients, vacations you take specially if you do business on trip, could be tax write off

If its a home based bsuiness, read form Schedule C, that will help

Re: What is a tax write off

If you're self-employed, it is possible to write off a number of costs for tax or claim tax relief on expenses incurred during the course of running your business.

What basically you do here, you deduct these expenses from your income and tax is levied only on what's left. There are strict rules about what does and does not count as a legitimate tax-deductible expense. And it is a legal requirement to keep good records and ensure that all receipts and invoices are kept for all expenses. Here in Uk, you cant claim some expenses such as entertainment and corporate hospitality, home to work travel and personal medical expenses.

Mortgage costs are not really covered , where it is possible to claim a small amount as the "cost of using your house as an office" but if you try to claim mortgage payments as a tax deductible expense, it is possible that this could give rise to a Capital Gains Tax charge when you sell your house. You know what I mean?

You can claim Work travel , Accommodation and food on business trips , Car mileage , Accountancy costs and Computers and work equipment

If you still have doubts , you better check out Revenue's website.

Re: What is a tax write off

Btw I was just wondering , if some one had made some money being a sperm donor . Could he take a depletion allowance :confused:

Re: What is a tax write off

:aq:

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X2 Please be here and Answer bara hi malomati swal hai:chai:

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**
Gifts to friend:wink: also considered as client:confused:
PS: I recall a movie where husband send flowers to his girl friend and when wife inqured about it told her that was for a client:cb:

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I just hope that its a joke

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No it is not indeed bahi , I happend some where in Us , ohh yea in NYC where a bloke approached Manhattan CPA Marc Albaum . He had made some money being a sperm donor and wanted to know if he could take a depletion allowance !

Go to Msn Money and search for The 9 weirdest tax write-offs . ya will get it in writing ! urghh leme do it for ya !

link is

http://moneycentral.msn.com/content/Taxes/P108364.asp

Re: What is a tax write off

It was a very serious question mocked by some other poster :naraz:

Re: What is a tax write off

i suppose if it falls within the guidelines that zobia has noted

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