Archive for July, 2010
Tax Deductible Volunteering
July 1st, 2010
Question: Is childcare tax deductible for volunteer work?
I am a regular volunteer at the animal shelter and a local mission. I know if I brought in income childcare is tax deductible but not sure about volunteering.
Answer: No. The whole reason most credits and deductions exist is so that you can make more income that can be taxed. If you get daycare to work and make more taxable income, they help you with that daycare. If you get daycare for just personal and pleasure reasons like volunteering, they won’t help you.
Items on Amazon Right Now for Tax Deductible Volunteering:
Hezekiah’s Hands: home-repair with love
EDITOR’S NOTE:Help.The word can be a desperate cry. Or it can be a caring response.When it is a cry, even from far away, many people among us respond. They stop what they’re doing, pack their bags and make long trips to help those in need. They give
Volunteer Abroad India Health Care & HIV – Leprosy Colony Programs Medical and Nurses
Posted in Donation Tax Deductions | 
Tags: charity, governing, nonprofits, research, tax, tax deductible volunteering | 
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Tax Deductions For Homeowners 2008
July 1st, 2010
Question: What is the easiest tax software to use for a 1st time homeowner?
I’ve always used online tax software because I’ve always used the standard deduction. Since I bought my house in June 2008, I want to buy a tax software that will make it easy to file. Can anyone recommend a software to use? Or am I better off going to H&R and spending more $$$ to have them do it? Any help is appreciated!!!
Answer: you only need a basic version of any tax software, i recommend tax cut only 19.95. I was a 20 year user of turbo-tax, but the price was higher this year.
Items on Amazon Right Now for Tax Deductions For Homeowners 2008:
Tax The Rich?
Figuring out ways to finance health care reform.
Tax Deduction Tips & Advice : How to Claim Deductions for State & Local Taxes
When Are Meals 100 Deductible
July 1st, 2010
Question: What is %50 deductible and what is not?
I am preparing my taxes. i am a self emplyed; and have a lot of coffee while in the street in between projects, often lunch and even dinner when i finish to work very late after meetings.
Is that consider %100 deductible meals or %50?Please help
Answer: Meals are deductible only if 1) it is necessary for you to stop for substantial sleep or rest to properly perform your duties while away from home on business, or 2) the meal is business-related entertainment. Both of these categories are subject to a 50% deduction limit.
Your own meals while not away from home on business (in between projects, at lunch and dinner when you work late after meetings), are personal expenses and not deductible at all. Away from home generally means traveling at least overnight on a business trip. And in order for meals to be buiness-related entertainment, you have to entertain someone else and document the person, the date, the purpose for the entertainment, etc.
Items on Amazon Right Now for When Are Meals 100 Deductible:
One for the Road
On a cold, gray morning in February 1916, a 64-year-old bartender named Ike Johnson put a pistol to his temple and pulled the trigger.
HELP GREG KONOW RUN THE NEW YORK CITY MARATHON