Talk:Tax deduction

message: This article fails to actually define what a "Tax Deduction" is. It begins "Income tax systems generally allow a tax deduction for various items, especially expenses incurred to produce income." This sentence does not explain what a tax deduction is. What is a tax deduction?  — Preceding unsigned comment added by 71.192.26.201 (talk) 14:20, 16 September 2011 (UTC)
replies: text: Good comment.  I added a short phrase explaining. Sometimes we fail to state the obvious. :) Oldtaxguy (talk) 22:44, 16 September 2011 (UTC)
thread_title: Definition

message: I've made a few changes regarding U.S. Federal income taxation. I've realized that I have never really read this article carefully all the way through. Some of the statements were incorrect, and others somewhat misleading.
The subject of tax deductions for U.S. Federal income taxation purposes is highly complex. Blanket statements tend to be problematic. Famspear 22:11, 9 September 2007 (UTC)
replies: text: This article is little more than a stub with a non-comprehensive list that may be interpreted as comprehensive.  It needs a lot of work.Oldtaxguy (talk) 20:35, 17 March 2010 (UTC)
thread_title: Needs work

message: Quick question... I'm a little confused on this example, which contradicts the first example.  I'm not sure if it is the difference with U.S. law or if it is just incorrect.  Here is the example given:
Taking the first part of this example, it is applying the 25% rate to the post-tax donation of $1,000 for a return of $250.  However, $1,330 was earned to make a $1000 donation ($1000 being a 25% rate applied to $1,330).  So should the return actually be $330 and not $250?  Is it the income required to make a $1000 donation (pre-tax) or post-tax deduction from income?  In the first example using a flat rate of 33%, $600 was equal to an untaxed $900 (a 33% rate applied to $900), and not equal to $798 (a 33% rate applied to $600 post-tax). Morphh  (talk) 14:28, 29 October 2007 (UTC)
replies: text: I think the $1,000 is the pre-tax donation. The donor gets the tax benefit so the net amount he spends on the gift is $750.--Patrick 15:23, 29 October 2007 (UTC)
thread_title: Example question

message: Tax deductions are listed for US, UK and Australia, I was wondering if anyone familiar with Canadian tax laws and appropriate conditions might detail its distinct features and differences from the others for those who are interested. Tyciol (talk) 07:50, 2 March 2008 (UTC)
replies: text: You may want to post this request to the Taxation in Canada talk as well.  It is more likely editors that are familiar with those tax laws would be watching that particular article. Morphh  (talk) 13:15, 02 March 2008 (UTC)
thread_title: Canada

message: Should there be inclusion of Deduction of In-Kind contributions in US section? Of course the IRS would rather taxpayers didn't 
:# know about this, and
:# bother with trying to get deductions. 
::wcf Facts are stubborn. Comments? 21:01, 11 January 2009 (UTC)
thread_title: Deduction of In-Kind contributions

message: I have drafted a significant expansion of this article, with a view toward globalizing and generalizing it quite a bit.  The draft is and will be posted for 2+ weeks on my talk page (link below) prior to posting the update, to give folks a bit of time to comment. Following is a proposed outline (slightly revised from last post:
*Intro
*Business expenses
**Cost of goods sold
**Trading or Ordinary and necessary expenses
**Accounting methods
**Limits on deductions  (e.g., T&E, autos)
*Capitalized items & depreciation
*Nonbusiness expenses
**Income producing expenses (where different from business expenses)
**Losses
**Itemized deductions and personal reliefs, including personal exemptions
*Group relief
*references, further reading, etc
*
Please feel free to edit the talk page as a way of commenting on the draft.  Help on this is much appreciated, particularly with respect to non-U.S. discussions.Oldtaxguy (talk) 22:11, 5 April 2010 (UTC)
thread_title:  Proposal for expansion/globalization 

message: Dear colleagues,
I will post the greatly expanded article over the weekend of 24 April 2010 unless someone objects.  The draft is on my talk page.  Known issues:
*Add short paragraph on offsetting deductions against other types of income, including ref. to US passive activity rules
*More globalization needed.  I will retain the globalize flag.
*A few references (mostly non-US) are incomplete.  HELP!!
The new article is about 18k plus links (2.8k words), up from 8k total.
Comments appreciated.Oldtaxguy (talk) 22:31, 22 April 2010 (UTC)
thread_title:  Greatly expanded article