 If I spend $500 to raise $10,000 for a charity, is the $500 tax deductible? |
| The charity acknowledges that I raised $10K. I have receipts to show I spent, for example, money to put on a dinner where participants paid $60 a plate. All of that money was donated to the charity.... |
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 I know you can deduct medical bills from your taxes...? |
| Would it be worth it to pay off all medical bills with a credit card before Dec 31st? Would it increase my refund greatly or not enough to make it worth it?... |
|
 How is the cost of living calculated in the UK? |
Hi,
I am confused, ok that's not unusual.8-))
I just heard on the news that the cost of gas has risen by 85% over the last 3 years.
So given that electricity ... |
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 My wages are never right the payroll mess it up every month? |
| i work the same hours every month but payroll always mess it ... |
|
 Hi, I got my paycheck and it was $600.00 and the withholding tax was, FICA-SS $37.20, FICA-Med $8.70 and? |
Fedral W/H $39.81, State W/H $20.24, Local $9.00, doese any one knows if this is reasonable? and what each one stand for?
My employer doesnt provide Medcare so why still they are cutting FICA-M... |
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 How do I get my mom to stop claiming me on her taxes? |
(I had to ask this again because I keep leaving info out)
I am 20 years old, I have my own apartment I pay all the bills there, (I do go to her house sometimes for a few weeks), I have my ... |
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 Can I legally claim that I earn 1/3rd less than my original amount before deductions? |
| If I earn a certain amount of money and have a third of it taken out before taxes for health care, dental, vision, 401K, and a few other things, is my annual income the original amount or the amount ... |
|
 I am having my taxes done by an acct. this year. I was told that forms that are used to file this way costs $? |
Is that true? My taxes are very complicted and I need help no matter what. So for instance filing jointly heard that that particular form starts out as $150.
Can anyone give me more info on ... |
|
 Do you support the Fair Tax? |
I just think it makes more sense. People should be able to keep 100% of their pay check. We should replace the IRS with the Fair Tax.
http://www.fairtax.org/s... |
|
 What does a prospective employer do once they have your previous w-2? |
| I worked for a company that went out of business and have since taken a new job. In order to verify my employment there I need to present them with a W-2. After the company went out of business I ... |
|
 Stimulus check? |
| My last two of ssn is 05 -- I did direct deposit for my taxes -- I was under the impression I would get the check today. Is it true that the IRS is going to put deposits through at 9 am and 1 pm? <... |
|
 Accountants help! Is 10% of your paycheck taken out in taxes not enough or a lot? |
| I'm debating on goin to HRBlock this year. We usually do, but I'm not sure if our return will be worth it this year. One job had 10%taken out for taxes, just worked out that way. $10,000 ... |
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 Do u file 06 taxes in 08 or 07s? |
my friend says that taxes is a year behide.she say that u clam 06 in 08. is that true? i also thoght is the year be4, like 07 in 08.
what year dose she file now 06 or 07?... |
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mlviola | If I sell all or a portion of my comic book collection, what tax benefits (if any) can I realize? |
I have a list of all of the issues that I have purchased over the last 20 years. The comic books were "bagged and boarded" prior to their sale. I have not sold all of them yet. They are not being sold as an entire collection. So far, 100 of 4000+ comics have been sold. |
 |
 
Blunt Honesty
 |
There are no tax benefits. |
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RamsGod
|
You must include on your tax return hobby income. Tax deductions for expenses related to hobby income are limited to the amount of hobby income you report on your tax return, and can be taken as tax deductions only if you itemize your tax deductions on Form 1040, Schedule A. The tax deductions are subject to the 2% AGI floor.
If you collect stamps, coins, or other items as a hobby for recreation and pleasure, and you sell any of the hobby collection items, your gain is taxable as a capital gain on your tax return. However, if you sell items from your hobby collection at a loss, you cannot deduct a net loss on your tax return |
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roymark
 |
No tax benefit,ok |
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lizzit
|
The only tax benefit is the 25% capital gains rate on the sale of collectables. If your regular tax rate is higher than this, that's a benefit. If your regular tax rate is lower, you will pay your lower rate instead.
You can deduct from the sale price the costs of purchase and incidental costs related to the purchase and the sale. Incidental costs include the cost of the protective baggy, sales tax, packing materials for shipping, and postage related to the aquisition and disposal of your asset. |
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STEVEN F
 |
If you can show how much you paid for the comic books, you can deduct that amount from the sale price to determine taxable income. Any profit may qualify as a capital gain which is taxed at a lower rate than regular income. This is not exactly a 'tax benefit', but is may reduce the taxes you pay for the sale. |
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justme
|
are you a comicbook collector? i have tons of them i would love to get rid of |
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united9198
|
If you don't have a business, the sale of personal property is not taxable. If you do have a business, you will be allowed the normal business deductions from the gross sale. That would include things like purchase price (your basis), cost of doing business, etc. |
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