 Tax rebate? |
| i made $40000 in 2007, my wife does not work at all, how much should i get in tax rebate ?... |
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 Advice for avoiding owing taxes in 2008? |
| We are sick of owing around $3000 in taxes! The so called tax reform did us absolutely no good - we owed more this year, and our bracket did not change. Taxable income, around 120,000 - standard ... |
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 Paper Check!!!!!!!!!!!!!!!!!!!? |
Has anyone with the last 2 of ss# being 11 gotten there paper check?
Additional Details
I am asking because people started recieving them yesterday. They are ahead of schedule and have ... |
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 I have no taxable income but I have capital losses. Can I still deduct $3,000 limit and get a refund? |
| I have no taxable income. I had money to put into stocks, which I lost good amount of it that exceeds $3,000. Can I still deduct $3,000 as a capital loss and get a refund when I file a tax return?... |
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 IRS Delay? Did you file using Turbo Tax.com? |
| I just wanted to find out from others who are having their refund delayed if they filed using Turbo Tax.com. My refund was suppose to be refunded to me on 1-26. On the 26th when I called the IRS ... |
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 I won money outof the usa. should i pay for my winnings.? |
| i have won money out of the usa. should i pay for money that i have won?... |
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 Why is tax credits based on previous yrs earnings? |
| because last year (tax yr) we both worked this current tax year i have not worked so we struggle with money because tax credits give us what we would have gotten if i worked why do they base it on ... |
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| Is it true that when I pay tithes at my church, can I recieve all that money back in my tax refund? |
I have a statement from my church which states:
"This is to certify that the sum of 500 dollars was to Greater Apolstolic Church by (Me) for the year of (2007) as a tither. these ... |
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 My income tax check did not arrive yet? |
| It has been 2 months that im waiting for my income tax check to arrive but the lady that did the income tax for me says that the check did not arrive yet, and shes giving me stories over and over ... |
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 About to start work as a tax preparer.? |
Hi, I'm about to start a job as a tax preparer for a small firm. It's been awhile since I've done individual returns. I don't exactly remember what software he uses.
A... |
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 Can a credit card company threaten to take the money you owe them from your tax rebate? |
| Capital One Bank - sent a letter by mail, threatening to take the amount owed from my taxes, tax rebate.... |
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 No stimulus check yet and not understanding why.? |
| Was supposed to get our check on 5/9 and still nothing. We mailed our return in, didn't have any fees removed and it wasn't rapid refunded. We received our normal refund the other day so ... |
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 Hi I have a question about Holiday Pay and whether or not i'll be able to claim it since i'm quiting work soon? |
| Basically I had a part-time job working in a bookmakers since the beginning of the year, and I have never received any holiday pay. I'm giving the job up next week so should I be able to request ... |
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 Can you claim your hair and nails on your taxes? |
| a friend told me that you could and I was just curious because if you can that is not even ... |
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 Council tax in two homes? |
| iv got my own home but staying with my partner,and im on both c/tax. what shall i do?... |
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planeboy747 | Is money I donate to my family during a hardship considered tax deductible? |
Is money I donate to my family during a hardship considered tax deductible? |
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stevexnelson
 |
No. This does not qualify as a tax deduction. You can only write off donations that are made to religious organizations or to legitimate non-profits. (Your family is not considered a non-profit.)
Good luck. |
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acermill
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Sorry, but it's not a deductible expense, unless your family somehow is a registered 501(c)(3) charitable organization. Those are the only types of organizations to which one donates which qualify for a charitable contribution deduction.
At this point, you have given them a lovely gift, and nothing more. |
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Judy1
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No it's not, unless you pay enough of one person's support to claim them as a dependent. If that person has gross income over $3400 for the year, you most likely can't claim them in any case, even if you provide over half of their support for the year. |
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bostonianinmo
|
No, it is considered a gift. Gifts are NEVER deductible. In fact, they can be TAXABLE!
If you give any one person more than $12,000 in any tax year you MUST file a Gift Tax return. You can give $12,000 per year to an unlimited number of recipients and will never be required to file a Gift Tax return or pay a Gift Tax but once you exceed $12,000 to any one recipient the Gift Tax filing requirements kick in.
In addition to the annual $12,000 exclusion per recipient, you have a lifetime $1,000,000 exclusion that will avoid any taxes until it's exhausted. Once that is exhausted though you will start paying Gift Taxes.
Additionally the lifetime exclusion is tied to your Estate Tax exclusion and reduces it dollar for dollar. This can trigger or increase the Estate Tax due when you pass on. For this reason it's imperative that you keep copies of any Gift Tax returns filed forever as part of your personal financial records. The executor of your estate will need them when winding up your estate after you die. |
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bud68
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No. It is a gift. |
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Angie
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Only if you family is also a charitable organization. |
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heyteach
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No, your family isn't a charitable cause to the government. |
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Carol W
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Your not doing them any favors, if you claim this is a charitable donation then they also have to claim it is income which they will owe taxes on then. A gift is a gift. Leave it at that. Did you donate because you wanted to help or because you expected something in return? |
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gleelogan
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only if U did it for 6 months or more, and reside there, and took over all expenses. |
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