A resident Filipino engaged in business has a cost ratio to sales of 50%. All expenses are supported with proper documentation. What type of income tax deduction should the individual taxpayer avail of to minimize his/her taxable income? (Explain your answer in not more that three sentences.)

A resident Filipino engaged in business has a cost ratio to sales of 50%. All expenses are supported with proper documentation. What type of income tax deduction should the individual taxpayer avail of to minimize his/her taxable income? (Explain your answer in not more that three sentences.)

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter21: Partnerships

Section: Chapter Questions

Problem 45P

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