There are many deductions that can reduce your taxable income. One of these is the foreign dependent deduction.
If you support your family who live overseas, you may be able to claim this deduction. Of course there are some conditions you have to meet. For example, depending on the age of the dependent, the amount must meet the threshold.
Before the 2022 tax reform, a business who wants to apply the Electronic Book Preservation act had to obtain approval from the local tax office.
Last week, we talked about the foreign dependent deduction a little bit. Now let’s see what kind of documents are needed when claiming this deduction.
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