Search Results for: tax deductions

If you have set up a day care business in your home, you are eligible for daycare tax deduction. This deduction is valid even if you do not use the premises exclusively for business. What is a care centre by day can well be home by night; and you will still be eligible. However, it … Continue reading Eligibility for daycare tax deduction

Taxpayers who want to benefit from such a donation need to keep the following points in mind: – Verify the eligibility of the organization: The charitable trust must be a qualified one for the contribution to get the tax benefit. A good place to do so is from Publication 78 which is available online and … Continue reading Points to note – Tax deduction through donation