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Results tagged with tax-deduction
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user 41338
A tax deduction is a deduction that lowers a person’s tax liability by lowering his taxable income. Deductions are typically expenses that the taxpayer incurs during the year that can be applied against or subtracted from his gross income in order to figure out how much tax is owed.
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Splitting Hackathon Prize Money to minimize tax debt
I won a hackathon, the prize was $2000 in the form of a check made out to me. I was part of a 6-person team and we split the prize money as follows:
$300 to each team member (including me)
addition …
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