Question

In: Accounting

Which of the following expenditures may be taken as either a deduction or as a tax...

Which of the following expenditures may be taken as either a deduction or as a tax credit?

A) State sales taxes

B) Health insurance premiums for self-employed individuals

C) Foreign income taxes

D) Child care expenses

Solutions

Expert Solution

According to the topic number 503-Deductible taxes given in the website of IRS (Internal Revenue Service) you can take either a deduction or tax credit for foreign income tax.

Therefore Ans is C)Foreign Income taxes.

ekkarill92 answered 2 years ago
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