 Are mortgage points deductible in the yr of pmt or do I spread them over life of loan? |
| I am a 1st time home buyer and am in a high tax bracket (33%). I am considering whether I should accept points and buy down the rate and claim all the points (approx $11,000) in the current year when ... |
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 How do rich people pay less tax? |
| How do rich people manage to find ways of paying less tax? I read that they employ people to find ways of reducing the amount of tax they have to pay and I was wondering what kind of things they do.... |
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 Unemployment taxes? |
| Stupid me didnt report my unemployment from 2006 on my tax return. WHat is going to happen? What should I do?... |
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 Paying Taxes on Stocks??? |
| Sold my Stocks and there were taxes already taken from them. I want to know if I have to pay again when I file taxes for this year (2008)...... |
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 What do I have to do to start paying tax on the interest on my bank accounts? |
| When I stayed at home to look after my kids, and therefore didn't pay tax, I didn't have to pay tax on the interest I earned on my current and savings accounts. I have now gone back to work.... |
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| How much tax do you have to pay on money you recieved as a gift.? |
| I know you can give someone up to $10,000 a year as a gift. But how much if you gave $150,000? Would it be considered income an the standard income taxes apply, or are the taxes different on large ... |
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 Do i have to pay taxes? |
if i work full time and go to school full time? is that a law.? or is it just the employers choice to do that?
Additional Details
i live in ... |
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 Fuel tax in the UK? |
| Why no one protest anymore about excessive 80p in £ tax imposed by our goverment and then increse the duties in Mr.Gordon Browns' recent budget .... |
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 I have a Tax question? |
| I was having a discussion with somebody about state taxes and I was trying to figure out how they are calculated. Let's say, hypothetically, I lived in California for most of the year and make ... |
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 If you have garnishments does that mean your tax refund will be taken? |
If you have garnishments placed on your check which are taken out twice monthly, does that mean when income tax time runs around that they will also take your refund?
Additional Details
... |
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 Is there any coupons regarding TurboTax Federal & Software..........? |
Is there any coupons regarding for tax & Software..........
that i can use........ |
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 I received a 1099 after filing my taxes. Can I pay taxes on the 1099 seperately from my return? |
| The 1099 came from consulting work I done on the side. It was about $5,000, which was substancially more than I remembered, but it's correct. I would rather just send a check for the percentage ... |
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 Would married couples get two 600 rebates? |
| I am married and i was wondering if my Husband and I would get two 600 tax rebates if we filed taxes as married. Would we get one 600 check for each of us or just one?Would we both get the check if ... |
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 Should I pay taxes if I am a full-time student working part-time from home? |
Hi,
I am now a full-time postgraduate student, I was working during the summer and my employer was paying my NI and taxes.
Now the university is paying me a scholarship that ... |
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 Why don't they increase taxes on beer like they do on cigarettes? |
I’m not a smoker or anything, but I feel that they reasons they give for raising taxes on cigarettes would work on beer.
Examples:
It would stop kids from developing bad habits.<... |
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Hesham S | Donate Cash to person with disability can be tax deduction? |
I gave cash to someone with disability for him and his family over $2000. I don't have receipt, but he can write me a letter to proof that, can I still write this amount off???? any help |
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Charles G
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To get a tax deduction (on Sch-A), you need to give to a 501(3)(c) approved organization. Even at that, if it is specified to a specific individual or family, it is disallowed. |
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bostonianinmo
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No, that's a gift. Gifts are not tax deductible.
Gifts are actually TAXABLE to the DONOR -- that's you. However you didn't given anywhere near enough to trigger any tax liability for yourself, so I'll spare you the complexities of the Gift Tax. |
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Judy1
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No, a donation to an individual is never deductible. |
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Patricia C
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No, because he is not recognized as a charity. You did a good thing but the government is not going to allow that as a tax deduction. |
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chatsplas
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NOPE.
Only donations to charity, to 501c3 organization, NOT donations to individuals. Your reward is the family's gratitude or in heaven, not on your tax return. You gave a gift, did not make charitable donation. |
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stephenweinstein
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No. Money given to an individual (or family) for his (or their) own use is a "gift" and you are not allowed to deduct it. The deduct for gifts to charity are allowed only when they are given to an organization, and are not for the benefit of any particular person. |
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src50
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No - you have a cash gift. Not deductible. |
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loves christmas lights
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Im no tax pro, but when I was looking on the IRS site on charity rules, they have to be accepted or acceptable charities. Giving a cash gift to someone, may have its deduction of some sort, the recipient may have to now claim it as income though. I think you simply gave a gift to someone simple as that. There are many rules, and limits, make sure you read up at the IRS website, before you get yourself audited and in trouble. Everyone could "claim" this if it was that easy. |
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