Business

Description:

Helps you evaluates if a purchase is tax-deductible under the U.S. tax code. If it is, it will provide the relevant sections of the code that support its deductibility, as well as any conditions or limitations that may apply. When a product/service is NOT eligible for a deduction, it will return cases where it IS eligible for a deduction. To use this SmartPrompt, you must provide the value of the item, the item itself, and a description of why you need/want the item/service.

Example:

ooo tax $99 mini fridget for our office headquarter to support workers during labor hours

Result:

This purchase is not tax deductible under the U.S. tax code. However, a mini fridge may be deductible in certain cases. For example, if the mini fridge is necessary for medical purposes, it may be deductible as a medical expense. Additionally, if the mini fridge is being used exclusively for business purposes, such as storing food for employees, it may be deductible as a business expense under section 162 of the Internal Revenue Code.