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What constitutes a tax write-off?

At its simplest, a tax write-off is any expense that you can deduct from your taxable income on your tax return. Another way to put it: It’s an expenditure of money that you incur when producing income. It lowers the amount of income that you have to pay tax on. It’s important to note, though, that a tax write-off is not a dollar-for-dollar decrease of your tax liability. Read stories like this and more in your latest edition of The Ennis News. Be informed, subscribe today!

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Posted by on Apr 9 2018. Filed under Consumer tips, Lifestyles. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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