Moore Stephens
Do you know the rules for apparent losses?

Do you know the rules for apparent losses?

What is an apparent loss? You can suffer an apparent loss if you have an immobilization and if the following two conditions are met: You or someone affiliated with you buys or has the right to buy the same or identical good (called “replacement good”)...
Borrowing: direct use VS indirect use

Borrowing: direct use VS indirect use

Interest charges are deductible if the borrowed money is used to earn income from a business or property (for more details, click here). The courts have ruled that the borrowed money must be used directly, not indirectly. We explain the nuance of borrowing.  ...