List/Grid Tag Archives: Tax deductions which are going away in 2019

Tax deduction

Tax deductions that went away this year

Tax deduction is basically a type of reduction in the value of income which can be taxed. Being a result of all the expenditure, tax deductions are meant to reduce the taxable income by subtracting the tax credits from your own taxes. Now there are a lot many tax deductions that went away this year. Here is a list of some of these. 1. Bicycle Deduction Earlier the employees were reimbursed for tax free bicycle commuting expenses. Also the employer had the power to make a deduction if they offered the benefit. But now since the TCJA ...
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