What Are the Different Types of Deductible Expenses?

Expense deduction refers to the necessary expenses that are taxed on personal income and should be deducted from the total income of the taxpayer. When levying personal income tax or personal income adjustment tax on individuals, necessary expenses must be deducted, mainly considering the minimum billing and other necessary expenses of taxpayers and their dependents. ^[1]

Deduction of expenses

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Expense deduction refers to the necessary expenses that are taxed on personal income and should be deducted from the total income of the taxpayer. When levying personal income tax or personal income adjustment tax on individuals, necessary expenses must be deducted, mainly considering the minimum billing and other necessary expenses of taxpayers and their dependents. ^[1]

Cost deduction:

Personal income tax laws usually include provisions for deduction of expenses. There are two methods of deductions based on actual deductions and standard deductions. Our country uses the standard deduction method!