utcursch
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In India, you do. See http://www.hindu.com/biz/2005/07/04/stories/2005070400221800.htm |
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Fall Down Laughing
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Do you mean cash gifts you gave to your family? Unless your family members are a nonprofit, no you can't take the charitable deduction. |
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meanie
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Actually I think if it is over a certain amount (10,000.00 not sure on that tho) you get pretty hevily taxed on it. |
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cyanne2ak
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No. However, if it was for "charity" and you have a receipt, then yes you can. |
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♥Cronin Fan♥
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I don't believe thaat you get a tax deduction. You really should consult a tax consultant/advisor, cpa, etc. You can always go onto www.allexperts.com and find a tax advisor and ask the same question just make sure you let them know exactly what you are talking about, your state, etc. You can make the question private so no others can see it on the allexperts.com board. This is a free site and allexperts are professionals in their field volunteering their time and expertise.
Good luck! |
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ApoOo
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well if ur talkin about giftcards, u need to pay the ammount u need to put in the card, with tax, so the ppl who'll get the card will use it directly. |
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snidy
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As long as you have receipts, you can call it charity |
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dpacman
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Nope, sorry. You can give up to 10000 without them paying taxes on it AGAIN (isn't that nice??). |
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windsorbins
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nope...not usually...check the tax codes...unless your family is considered a charitable organization, such gifts are not tax deductible...nice try though... |
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ethannadinemariel
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Probably not coz you can fake those. But gambling receipts you can. |
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da_hal
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if you get them, you have to pay taxes on them. if you give them, you can get a one-time gift-deduction of up to 10k. i'm not sure if it works for multiple people, talk to an accountant. |
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Some Geek
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I don't think so, otherwise you could easily cheat the entire system. I think that large gifts also attract a tax on them too, so uh... double no.
But I'm not from the USA, so ask an accountant to be sure. |
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