Essay Questions Answers should be brief and concise. A maximum of three sentences only. 1. A...

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Essay Questions Answers should be brief and concise. A maximum of three sentences only. 1. A resident Filipino engaged in business has a cost ratio to sales of 30%. 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.) Your answer 2. Will your answer be the same if the taxpayer is a domestic corporation? Why? (Explain your answer in not more that three sentences.) Your answer * 3 points 3 points Essay Questions Answers should be brief and concise. A maximum of three sentences only. 1. A resident Filipino engaged in business has a cost ratio to sales of 30%. 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.) Your answer 2. Will your answer be the same if the taxpayer is a domestic corporation? Why? (Explain your answer in not more that three sentences.) Your answer * 3 points 3 points

Answer rating: 100% (QA)

1 The individual taxpayer should avail of the Optional ... View the full answer