 Can I Deduct Clothing Donations to Charity? |
Can I donate clothing to the Salvation Army and take a tax deduction?'
I had heard that the IRS had gotten tougher on clothing donations as deductions.
What things should I ... |
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 I got my income tax done for free and the person says that I must pay back 400$ back to the feds is this true? |
| I got my income tax done for nothing at a community centre by a volunteer.I make less than 14000per year last year,I claimed my rent , student loans interest,and my meds[which the person would not ... |
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 Can IRS ask you how you paid your mortgage when you didn't file a return? |
| I got a notice 746 from IRS asking me how I paid my mortgage in a year I didn't file. I actually wasn't working and lived off a cash out refinance. Can I ignore letter, can they ask this?? W... |
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 If you got more than one W2 this year....and you don't report all of them to pay less tax...? |
What are your chances of getting busted?
Do the employers report your W2-s to the IRS?
Additional Details
Those rat bastards!!!!! My state and fed returns both went down by a ... |
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 The difference in claiming 1 or 0 on a W4..? |
| I am 21 and single.. so what is the best choice? I never know about how to fil these things out..... |
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 I haven't filed taxes in quite a few years. I haven't owed anything. How far back should I file? |
| I've been meaning to file for years, but for one reason or another, I never have. (I KNOW I'M SUPPOSED TO FILE EVEN THOUGH I DON'T OWE, BUT I'VE ALREADY ADMITTED THAT I HAVEN'... |
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 In any way, Can X-boyfriend claim me on His Federal Tax Form? |
| Lived together several years, parted 2002 as friends. For many reasons, he has continued to give me $ every month since parted (never over Fed gift amount per yr. Example: $12,000 is max for 2006-20... |
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 I own a duplex, Would I be able to incorporate myself and then, rent from myself? Tax benefits would be great |
| I am thinking that if I could do the above, my home repairs, and many other expenses would be tax deductible come tax time :)... |
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 Haven't filed taxes in 7 years? please help IRS is after me? |
| might be more than 7? but here goes...worked for self 4 or 5 years..during a bitter divorce...all my files were destroyed..during that time my home was repossessed, and the IRS is saying that the ... |
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| Will i have to pay tax on rental income (uk)? |
| Even when the rental income does not cover the mortgage repayments.... |
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 How do I claim my tax back if I'm unemployed? |
| I worked on emergency tax code for 6 months at three workplaces and need to claim back A LOT OF MONEY. I've heard I have to give the P45s to my current employer but I'm unemployed at the ... |
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 Can my boyfriend claim me on his taxes? |
| Me and my boyfriend have a daughter together and we have live together for a year. I have not worked at all, because i am a student. Can he claim me on his taxes?... |
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 When should I expect to recieve the tax refund in the mail? |
| I have heard different stories about recieving a check in the mail to build up the economy....when should it be coming in the mail and how much does each individual recieve?... |
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 In 2006 my son turned 18 .So in 07 on his taxes he claimed himself.His father also claimed him.Was he right? |
| I thought that because he was 18 before the half year that he can claim himself.His father said that he could not claim himself.My son never lived with him .His father could claim him up until he ... |
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 I have a tax question? |
| OK, last year, I had over $1,000 in church tithes. I gave it to the woman who did my taxes for last year, and she said the amount had to be $5,000 or more to be counted. My question is, can I count ... |
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 My yearly income is Rs-101160,Is my Salary is Taxable? |
| Actly company deduct TDS from my salary @ 10.33%,So how can i get back ?... |
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 Can two dwellings that share the same address both file head of household? |
| I bought a trailer home and had it put behind my parents house which is where i have been living for the past year. The problem is both myself and my mom files head of household. Is it possible for ... |
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 How much of gas price is taxes? |
I bet Bush Admin. made a lot of money last summer when gas was over $4/gal. I am just wondering how much they made.
It might be good way to help the economy.
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av | What can a young married couple who rents, does not own a business no kids do to have tax deductions? |
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Peggy K
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There are certain itemized deductions that may apply. Medical expenses and health and long-term care insurance premiums that are paid after-tax are deductible, subject to a limit of 7.5% of the adjusted gross income. Dental and vision care expenses are included in this deduction, as well as prescription medications and copays and a small allowance for medical mileage.
Sales tax or state income tax payments are deductible.
Unreimbursed employee business expenses are deductible, but there are some limits on this expense.
Charitable contributions are deductible, as are income tax preparation fees.
Casualties and thefts are also itemized deductions.
Some married couples claim one or both parents as dependents. There are special rules for dependent parents. A person has to have paid out over 1/2 of the parent's support in order to be able to claim them. There is such a thing as a multiple-support agreement, where siblings share the support of a parent, and each sibling then gets a turn at claiming the parent as a dependent on their own tax return. There are some rules and limitatios that need to be addressed when using this kind of agreement. |
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gjkishere
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They can suffer from horrible diseases that create high medical bills and have costly medications. |
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Joseph Sangl
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Purchase a traditional IRA or participate in your company's 401(k) or 403(b).
If you have medical expenses, you may be able to deduct those, but they have to be pretty significant!
Donate some stuff to Goodwill or a charity and you can take a deduction.
Donate cash to a 501c3 charity - a cause you fiercely believe in!
Own a hybrid vehicle that qualifies for tax credits or deductions. |
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Judy1
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Put as much as allowed into a tax-deferred retirement - that will give you less taxable income. But you might find that putting money into a Roth is a better deal for you in the long run, even though you can't deduct your contribution now. |
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bostonianinmo
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Give a lot to charity, I suppose. However, anything you spend to get a tax deduction will wind up costing you more in the end since you only get a limited benefit from the deduction. At best it would be 35% and for most taxpayers it will be between 15% and 28%.
Kids aren't "deductions" so having kids won't get you any deductions in and of itself. |
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markfedorov
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Not a lot for this year, but for next:
Donate money to a charity (colleges count)
Invest in real estate (get a manager)
Start an IRA
Make a bad business loan (...if you want I can help you with that one ; P ) |
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teletubby92
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A lot of things you need to do to get a tax deduction are very expensive and you will lose your standard deductions. You need to decide if those expenses are worth the deduction. Someone above me suggested investing in 401k, etc. That will lower your taxable income on the paycheck side, not on the tax form side, but it's a good way to go. I would invest also in Roth IRA. You have no tax liability on the end result, only on the money you put in.
With living, loving, learning and working, you will eventually find yourself in the position of having tax deductions. |
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erselius
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you get single tax deduction, students loan interest, personal property tax, hope college deduction, donations, medical expenses, expenses for moving if job related, etc. get turbo tax. |
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