Double Deduction News Today

The Bombay High Court has held that excise duty paid and included in the closing stock has to be claimed separately as a deduction; otherwise, the appellant would not be claiming the entire excise...

>> well, there are going to be more people in the individual in the zero bracket. there will be more people that take advantage of the new deductions about 70% of the taxpayers now that file dont file itemized anyway. the estimate on this bill is that 90% of the taxpayers that file will take advantage of that new double deduction which means the arguments about things like state and local tax deductibility and million dollars of loans that whether that can be deducted or not all are focused on t...