The IRS Deductions Blog

Archive for the ‘List of Tax Deductions’ Category

Question: tax deductible?

We need to change our carpet floor to hardwood floor, due to our daughter’s allergy to the dust and other stuff in the carpet. Will the cost of this renovation is tax deductible? Thanks! -Betty

Answer: Improvements are Not Tax Deductible.

Mortage interest and home equity interest is GENERALLY tax deductible.

The primary purpose must be medical Care.

If a capital expenditure for medical care also constitutes a permanent improvement or betterment of the taxpayers property, then the expenditure is deductible only to the extent that it exceeds the increase in the property’s value.

It is all facts taken into account and you need not only the doctor’s note but the value of the property before and after the improvement (cousin Bob’s value does not count)

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YMCA expansion campaign picks up steam

The Beckley-Raleigh County YMCA is accepting donations for a 20,000-square-foot expansion, which officials say will extend numerous benefits to the community.

Tax Tips: Discover why refi or a drop in your home value can slash your mortgage interest deduction

Question: What in Canada is tax deductible/ write off for personal expenses?

Groceries, entertainment, eating out, baby stuff- diapers, formula, clothes…can I claim any of this stuff?

Answer: If the things you mentioned were business expenses you could write it off to some degree

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News in brief

Here are a selection of brief news items from this week’s paper edition, and possibly a few news briefs that didn’t make it in the paper.

“Original As You” Your Own Song & Dance Composed, Premiered & Videotaped at Your Wedding

Question: I am legally blind. Can I e-file my taxes and still claim the deduction for being legally blind?

I am legally blind and am wondering if I can still use the e-file option for my taxes and still get the additional deduction for being legally blind? If not, will I have to mail them in and wait for my refund?

Answer: I would have to say “yes.” You are entitled to this deduction and you need to take it. Every deduction that is available to you when you file a paper return is also available when you efile.

Good luck.

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Want A Bigger Tax Refund? Don’t Itemize

Six reasons why many taxpayers can save money and time by claiming the standard deduction.

Question: Where is the best place to donate goods for tax deductible donations?

I am wanting to get rid of a lot of good clothes and unwanted household appliances. What is the amount I get for the items that I donate?

Answer: Good Will is a good place. There are numerous charities that will take stuff. The amt of deduction is a touchy thing with the IRS. It has to be what the item is worth now and not what you paid or it.

Items on Amazon Right Now for Tax Deductible Appliances:

Empty Stocking Fund: Help a neighbor in financial need

Get FREE Daily Headlines by email! Editor’s note: Today marks the end of our profiles on neighbors in need. Donations will continue to be accepted.

ICAN Junction

Question: How to get donations to our 501(c)3 tax deductible foundation.Terminal cancer patient.?

We met a lovely lady who added us to her foundation website to accept donations for us.

Hubby has cancer that has spread to his brain.He’s young.

I can not go back to work right now,and am out of leave.

He gets SS,but that won’t get us through this.

I thought since it’s the end of the year,we would find many contributors looking for a tax deduction,but not much luck as of yet.

Any ideas?

Thanks for any help.

Answer: This will actually be the toughest time of year to get donations. With todays low economy and poor wages.. and its Christmas time. Everyone either has or is getting ready to max their cards for all those presents.

The best thing for you to do is get the community involved. Go to the news station. Have yard/bake sales. Talk to any church or civic group you guys are a part of. Talk to local business owners – they may make a donation themselves, or set out the coin jars to collect money.

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Cycling News Roundup 29 December 2009

Alejandro Valverde chats Teusday morning, Alejandro Valverde chatted with the many fans on the net who sent him their questions through the website of the newspaper El Mundo.es.

Tax Deduction Tips : IRS Website Tips