 Should fat buggers be taxed more.......? |
| lets face it they eat more of the earths resources, take up more space, and we burn more petrol to lug em round. think wot a difference it would make to the economy and the ozone layer..... tax em or ... |
|
 Do you pay tax on a second job which is part time? |
| i recntly started a new job which is full time i didnt get taxed on my first wage then my old emplyer rung me and aked if i wanted to go back just 8 hours a week as well as do my full time job,do i ... |
|
 I'm still waiting? |
| well here it is June 16,2008 and My extra tax check hasn't come yet! Everyone else I know has recieved theirs, not me.I've gone to the page to find out when I'll get it but all it ... |
|
 What do i do if i receive a W2 by mistake? |
| I received a W2 for a place i never worked for. EIN number 26-1242925. Cant find it anywhere on the web? Called IRS and they said I need to contact the company, but I cant locate it by the address ... |
|
 Why haven't I gotten my stimulus package yet? |
| My SSN is among the 1st that should have received their stimulus package and I haven't gotten mine. I used Turbo Tax and got my refund directly deposited. I heard if you got fees taken ... |
|
 I just bought a house, I'm not sure what reciepts I am supposed to be saving? |
| This will be my 1st yr filing taxes as a homeowner. i am lost. i'm not sure what receipts i need to save or what i can claim. can anybody help please.... |
|
 Tax question? |
Hey everybody,
I filed my taxes not too long ago and I completely forget to include the salary from one of my jobs. I only worked this job for one day last year and I made a total of $120. ... |
|
 Does anyone know how to fill out a W-4 form so that i dont get too much tax withheld from each check? |
| I'm single, have no dependants, and do not ake very much money each year. I'm starting a second job and i don't want too much tax withheld from either job but i don't know what to ... |
|
 If everyone gave up smoking? |
| What would they put the tax onto that they put on cigerettes. Cigerettes have the highest added duty tax, so the government would have to recoup the money else where. So what do you think they will ... |
|
 Jobseekers Allowance, help!!? |
| Do you think the introduction of Jobseekers Allowance (which replaced unemployment benefit) is a good idea?... |
|
 Tax Return: What to do if I didn't enter the right Date of birth for dependent? |
| I recently filed my tax return and noticed the Date of Birth is incorrect for one of my dependent, does this mean I need to file an amendment?... |
|
| How old does a car have to be to be tax exempt? |
| I have a K reg vehicle and am wondering how many more years I have to wait before it is tax exempt.... |
|
 Why does the IRS think I'm rich? |
| This might be more of a rant, but I finally got down to doing our taxes this year. Our income this year was $160,000 gross, and we live in California. Out of that we paid almost $3,000 a month for ... |
|
 I got a mai,in which they inform me thet i'm the winner of UK NATIONAL LOTTERY,where i have not participeted. |
| I have recieve a mail,in hich they have inform me that i'm the winner of the UK NATIONAL LOTTERY,but i have not participeted....now they are asking around 392 Pounds which which amount in Indian ... |
|
|  |
npbrackett | If you donate to Good Will is that a tax write-off? |
I have TONS & TONS of clothes and shoes, etc worth alot of money; my husband tells me to donate it to Good Will so we can just write it off for our taxes? Is this true? And how do I go about doing it? |
 |
 
ninasgramma
|
You make a list of each item, its original value, the date of donation, and its resale value. Then when you donate the items, get a receipt and staple the list to the receipt.
When you do your taxes, you will have to fill out Form 8283 and list the above information. The total will go onto Schedule A as noncash charitable contributions.
These donations will reduce taxes owed, they will not generate a refund. The amount is included in Schedule A, and when the total on Schedule A is greater than your standard deduction, you may get a tax savings.
If you itemize and owe taxes, you may get a benefit. Otherwise, there will be no tax benefit. |
|
casco17
|
Good idea to take a snapshot of what you donate, and be realistic when guessing the value of what the stuff is worth.
Keep the snapshot with your tax receipt (just in case you get audited by the IRS or your state tax office) |
|
rivasj27
 |
Yes it is.. Get a receipt when you drop it off. |
|
Quenton P
 |
idk maybe |
|
Judy1
|
Sort of true. Get a receipt for the items that you donate. Then if you itemize you can deduct the current used value (what the items would sell for in the Goodwill Store) as a charitable contribution. Your tax savings, if you itemize, is the deduction times your tax bracket. So if you are in a 15% bracket, you save $15 in tax for every $100 worth of items you donate. |
|
nightowl
|
Throw your stuff in a bag and go to the nearest Goodwill drop off station.
When you give them your stuff, ask for a receipt. You'll get a pink slip that you have to fill out, where you have to VERY GENERALLY list APPROXIMATE VALUE (current condition).
Keep the receipt for your 2008 taxes in case you have to prove that you actually made the donation (not likely).
If you file an EZ 1040, then you don't need a receipt as long as the dollar value doesn't exceed $200 (I believe - or something like that). But anything over that, you might have to itemize the deduction/write-off on a Schedule C. Take this with a grain of salt because I really don't know how to do tax stuff - but I know deductions and write-offs are part of the Schedule C.
Don't go crazy on the dollar value of your goods- that might send some red flags to the IRS. Usually, if I give a large garbage bag of clothes, I say it's worth $150.
The write off isn't huge, by all means, but sometimes just being able to dump your stuff somewhere and get a little tax break from the gov't is SO MUCH easier than sitting in your driveway all day haggling with people who want to buy your clothes for 25 cents at your garage sale.
I don't know where you live, but there's also Purple Heart and Salvation Army, also St. Vincent De Pauls - look them up in the phone book - they actually come to your house and pick it up for you, and give you a receipt, as well. |
|
7.62 MM
|
ask for a recipt and turn it in on taxes |
|
samsam
|
they gave you a little form for a tax break you fill out. |
|
<OiO>
|
You must make donation to a qualified organization Good Will is one of them, the amount you deduct usually fair market value, generally your deduction for donated items limits to 50% of your adjusted gross income, if the amount exceeds the limits you can carry the remaining over next year. Tax year 2007, for deduction over $500 you need a written acknowledgement from the charity, over $500 but under $5,000 you need to file form 8283, for over $5,000 you will probably need a written appraisal. |
|
sarabeth
 |
You bring all your stuff to good will and they give you a receipt. You fill in the value of all the stuff you donated and then save the receipt, since you will need it at tax time. I don't know if you can claim the amount that you paid for the stuff when it was new, since it is now used. But you can claim some portion of the value. Just bring the receipt to your accountant. |
|
Cindi W
|
Yes, donating to Good Will you can claim this on next year's tax return and if will be factored into the same categories as donations of other sorts; to the AHA, Cancer,etc
It would nice to get a receipt. It may simply say: two large bags of women's clothese and accessories. Take your own inventory though, when it comes to claiming these. The IRS will want a round figure about how much these items are worth.
At least when I used Turbo-tax they gave each item a $ amount, depending on the conditon. It was actually pretty fair.
A used, beat up pair of converse sneaks will obviously be alloted less then a brand new pair of Adidas that never fit.
These clothes are put to good use by people who may be on such a strict budget, but still wants to look nice.
I will donate as opposed to selling my nice things on ebay. |
|
Mrs. Radcliffe
 |
yes |
|
mojo1969
 |
yes, if you itemize on your taxes, you have to have at least 10,000 dollars be for you can itemize, also prescriptions that you pay out of pocket for as well as medical bills and co pays that you pay out of pocket for are deductible as well as home equity if you have home mortgage. and contributions to Charity's but you must have receipts of donated amounts also if you have purchased a new car with in the year you are filing taxes for, the tags tax and title fee are deductible. |
|
chadmcollins1985
 |
You have to donate alot to really get something back. |
|
Digz
 |
Yeah but it's tricky. they have to go though each and every piece that you donate and give u a quote of much it's worth and unless you donate more than $500 then it's not worth it because you'll get chraged for the paperwork when doing a minimized deduction.(have a yard sale, you'll benefit more) |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
15 | 27 minutes(s) ago
| | | |
15 | 49 minutes(s) ago
| | | |
15 | 51 minutes(s) ago
| | | |
15 | 56 minutes(s) ago
| | | |
15 | 1 hour(s) ago
| | | |
15 | 5 hour(s) ago
| | | |
15 | 7 hour(s) ago
| | | |
15 | 8 hour(s) ago
| | | |
15 | 11 hour(s) ago
| | | |
15 | 1 day(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
