The IRS Deductions Blog

Archive for February, 2009

Items on Amazon Right Now for Ida Collision Deductible Reserve Plan:

New IDA Collision Deductible Reserve Plan MLM

Question: I need to find sponsors for a school event…help…?

I live in a very small town and I need to find a sponsor for a school event…or I need to raise at least $100…I really don’t like asking people…any ideas? I was thinking about e-mailing local businesses since it’s a tax-deductible thing, asking them for money…I’ve procrastinated, and now, I am desperate. Help.

Answer: Absolutely, positively, do NOT email anyone. It will get deleted, and will ruin any future chances. Go to a business for a personal visit (preferably one where you have a personal connection already) and just ask. The worst they can say is “no,” but you just might be surprised. Take along a letter on letterhead from the school and signed either by the Principal or the superintendent of schools. Be prepared to explain exactly what the money will be used for, what you will do for them (a sign at the event thanking the business that is displayed prominently will usually suffice), and to describe (briefly) what the event is about. After you get the donation, be sure to do everything you said you would do, write a very nice letter of thanks, and include pictures (on paper and a CD ROM) of the event including one of the prominently displayed sign thanking the business in question.

Items on Amazon Right Now for Tax Deductible Small Business:

Quicken Rental Property Manager 2011 – [Old Version] $65.96 Quicken Rental Property Manager 2011 includes all of the features found in Quicken Home & Business, plus smart tools for managing your rental properties. Always know how your home-based business is doing. Helps maximize deductions and simplify your taxes. Manage Your Personal, Business, and Rental Property Finances in One Place Organizes Your Finances All in One Plac…

Quicken – Rental Property Manager 2012 – Bulk Pack $89.00 The Quicken® Rental Property Manager 2012 from Intuit® makes it easy managing and organizing your personal and rental property finances, all in one place. This personal finance software helps you to identify tax-deductible rental property expenses so you can maximize your tax deductions. Additionally, it shows how your rental properties are doing and where you’re spending at a glance. Besides …

What Your CPA Isn’t Telling You: Life-changing Tax Strategies $11.69 This is a powerful story woven around one theme—TAX PLANNING CAN CHANGE YOUR LIFE Tackling the fundamental question asked by all taxpayers – How can I save on taxes? — attorney and CPA Mark J. Kohler empowers you to dismiss standard CPA viewpoints like your tax payment is what it is and you just make too much money. Simplified through the mastery of storytelling, Kohler invites you …

J.K. Lasser’s 1001 Deductions and Tax Breaks 2012: Your Complete Guide to Everything Deductible $10.21 A straightforward guide to taking tax breaks and deductions on your 2011 tax returnCompletely revised to reflect important changes in this year?s tax laws, J.K. Lasser?s 1001 Deductions & Tax Breaks 2012 will help you take advantage of every tax break and deduction that you may be entitled to. This comprehensive guide is clearly organized by subject matter so you can easily find situations that ma…

Committee gearing up for 30th annual Florham Park summer concerts

FLORHAM PARK – Motown and ’80s tunes will be featured in the 30th anniversary of the Florham Park Summer Concert Series.

Tax Deduction Tips for Businesses : Filing Taxes with Capital Gains

Question: I rent a house. Tree fell on my cars. Who is responsible?

My husband and I rent a house. For three months, we have had small limbs and branches fall from the trees lining the driveway. On multiple occasions, we have told the landlord that something needed to be done. He has always said he would look at it. Now, a huge portion of the tree fell out onto my car (05 Altima with insurance) and my husband’s antique car (61 Chrysler no insurance). His homeowner’s won’t cover, our renter’s won’t cover. My auto policy will cover the Altima, but I will have to come up with the deductible and my rates will go up.

Answer: It would be so much better if you had copies of letters you had written to the landlord telling him about the tree situation, to prove that he had been aware of a pre-existing problem. But hindsight is 20/20. At this point all you could do would be to call in a certified arborist to give an opinion about why the tree fell. If the tree fell because of high winds, then no one is to blame. If, in the arborist’s opinion, it should have been obvious to anyone that the tree was a hazard, then you might have a good legal case – which you will still have to drag through court.

If the tree was rotten but you can’t prove the landlord knew about it, then he wouldn’t be responsible for the damage, but he would of course be responsible for the cleanup. I’m not sure why the landlord’s homeowner’s insurance won’t cover the damage to your cars, but his insurance company must be asserting that it was an act of God or something.

If none of these options sounds right, then you’ll have to let your insurance cover the Altima and risk your rates going up. The antique car that was not insured (what was that about??) is something you are going to have to pay out of your own pocket to fix, if you decide to do it.

Items on Amazon Right Now for Homeowners Policy Deductible:

Texas orders HO deductible options for catpool.(homeowners insurance, Texas Catastrophe Property Insurance Assocation): An article from: National … & Casualty-Risk & Benefits Management $5.95 This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on March 25, 1996. The length of the article is 936 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. Y…

Renting A Home A Better Deal Than Buying In Much Of U.S.

Those glamorous people you see in the upscale boutiques of Beverly Hills and Santa Monica may have a secret beyond their romantic lives and surgical histories.

Recouping Gustav Evacuation Expenses Under Homeowners Policies

Question: can pets be tax exempt?

I bought a pet last year for christmas and I was just wondering if pets may give a little deduction on your taxes.

Answer: If your pet is considered a “service animal” and you have a declared disability, then part of the purchase, training and care could (arguably) be deductible.

But for the average Fido or Mittens, no.

And in most cities instead of an “exemption” you actually pay a tax on them. Just because it is called a fee, don’t be fooled, it is yet another tax.

Wait until the government goes completely broke, all our things will be taxed as there won’t be much “income” for any of us.

Items on Amazon Right Now for Tax Deduction For Pets:

Community briefs – Jan. 27

Around the community

2 Bedroom , Next To Central Park ave

Question: What are all the Income Tax Deductions in a Payroll from Philadelphia PA?

My husband is getting paid $12/hr this payroll gross was $918. The deductions are $278.40 (child support) and all the other taxes deductions. I see everything in order but they started also holding Philadelphia local Income tax for $88.04. I did know about Federal Income tax and PA income tax but this Philadelphia taxes I never herd of them and the withold amount is almost 3 times higher than the PA one. So he is only receiving $ $344.28 this payroll. Is this right?

Answer: Many states allow cities to have local income taxes. Philadelphia does have such a tax. The rate is 4.301% of Gross Wages. The PA state income tax rate is 3.07%. There should be Philadelphia tax withheld, but 3 times the PA tax sounds high. You overall deductions, not counting child support, are about the same % of gross as mine.

Items on Amazon Right Now for Deductions Tax:

A Firing Line Debate: Resolved: That the Flat Tax Is Better than the Income Tax $10.00 Taped on June 6, 1995. Among the many tax-reform proposals floating about, one of the most interesting was the flat tax (which, contrary to the formulation of the above Resolution, is indeed an income tax, as opposed to a consumption tax). The version being propounded by Texas Congressman Dick Armey (and developed with the help of the National Center for Policy Analysis) would exempt from taxatio…

Classic Internal Revenue Service Business Tax Preparation Film DVD: 1970s Small Business Finance & Accounting Tax Preparation & Advice Film $12.99 No one likes to pay taxes – whether you’re an individual or a business. The complexity, anxiety and frustration of the bureaucratic process affect us all. There’s the fear of filing wrong and being penalized, the fear of a thorough, unexpected audit, and the disappointment of forking over a large chunk of hard-earned money to Uncle Sam. This vintage film breaks down the basics of business taxes fo…

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City cuts pay for tax delinquents

Alan Butkovitz orders payroll deductions up to 20% for 405 city workers.

Tax deductions you may not know about