The IRS Deductions Blog » donation

Sponsorship Deductible

admin — Tue, 13 Sep 2011 12:15:51 +0000

Question: What can you deduct if…..?My husband and I own a business. We are sponsoring a T-Ball team this year. What all will be considered deductible when we file taxes next year? (ie…sponsorship fee, uniforms, water cooler for team, first aid kit…etc) We are an LLC, Sole Propriertship company. Thanks.Answer: All your expenses will be [...]

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Donations Tax Deduction Clothing

admin — Tue, 16 Aug 2011 05:18:29 +0000

Question: donation tax?Hi, I am single, no kids, no house. I usually do standard deduction. However, I donated many clothes. Is it helpful if I file a itemized deduction for those donated clothes? What’s the min amount to file a itemized deduction in order to get more refunds?Answer: Your best bet would be to figure [...]

Donations Tax Deduction Clothing is a post from: The IRS Deductions Blog

Tax Deduction For Car Donation

admin — Tue, 09 Aug 2011 10:59:28 +0000

Question: How/where can I donate a timeshare?I have a great timeshare unit in Hilton Head, South Carolina. I cannot afford to make the maintenance fees every year in addition to my home mortgage, car payments, feeding/clothing/etc 2 kids, etc. I want to donate this unit so that I will be free of the maintenance fee and [...]

Tax Deduction For Car Donation is a post from: The IRS Deductions Blog

Tax Deduction Goodwill

admin — Mon, 11 Jul 2011 10:54:07 +0000

Question: Step by Step process of donating to goodwill or similar charity?Can someone tell me the step by step process of donating clothing to goodwill store or similar style places and bing able to get the tax deduction. I have to use the long form for tazes anyway so might as well get the deduction [...]

Tax Deduction Goodwill is a post from: The IRS Deductions Blog

Tax Deduction Used Car

admin — Sun, 22 May 2011 19:55:57 +0000

Question: Tax Deduction?Ok i deliver pizzas for a living and i herd that i can get Tax Deductions for using my car for the company and the miles i go? Anyone know anythang about that? 1. depending on gas price right now a $1.05 2. Credit card tips are automaticley reported… but not cash tips ***sorry they [...]

Tax Deduction Used Car is a post from: The IRS Deductions Blog

Car Donation Tax Deduction Rules

admin — Tue, 26 Apr 2011 10:43:22 +0000

Items on Amazon Right Now for Car Donation Tax Deduction Rules:Tax Tip: Deduct Your Car Donation NEW YORK (MainStreet) — If you donate a used car to charity, the rules for claiming a deduction are different from the normal rules for donating property. What you can deduct depends on what the charity does with the car. [...]

Car Donation Tax Deduction Rules is a post from: The IRS Deductions Blog

Donation In Kind Tax Deduction

admin — Mon, 11 Apr 2011 22:19:09 +0000

Question: How much charitable contribution can I take?I’m the sole shareholder of a corporation which operates a travel agency for business travelers. I want to donate computer equipment to a qualified charitable organization. I bought the equipment 2 years ago for $90,000 and expensed the entire amount under section 179. The market value of the [...]

Donation In Kind Tax Deduction is a post from: The IRS Deductions Blog

Tax Deduction Clothing Donation Calculator

admin — Sat, 12 Mar 2011 14:33:06 +0000

Items on Amazon Right Now for Tax Deduction Clothing Donation Calculator:TurboTax- ItsDeductible$14.99…Tax Deduction Clothing Donation Calculator is a post from: The IRS Deductions BlogTags: calculator, charity, clothing donation, donation, finance, tax, tax deduction clothing donation calculator, tax.deduction, taxesRelated posts Tax Deduction Clothing Tax Deduction Goodwill Donation Tax Deduction Goodwill Tax Deduction For Donations To Charity Tax Deduction Donation Clothing Irs Deduction [...]

Tax Deduction Clothing Donation Calculator is a post from: The IRS Deductions Blog

Goodwill Tax Deduction Guide

admin — Fri, 10 Dec 2010 04:13:46 +0000

Items on Amazon Right Now for Goodwill Tax Deduction Guide:2010 Holiday Guide Goodwill hunting Hipsters may be on to something. In the search for unique gift ideas at a low cost, it should be no secret that secondhand retail stores are a gold mine for the retro junkie in all of us. …Goodwill Tax Deduction Guide [...]

Goodwill Tax Deduction Guide is a post from: The IRS Deductions Blog

Irs Tax Deduction Car Donation

admin — Wed, 08 Dec 2010 01:52:05 +0000

Items on Amazon Right Now for Irs Tax Deduction Car Donation:6 tax breaks that anyone can claim Don’t let the complexity of tax filing scare you away from tax credits that are legally yours to claim. Here’s a quick list of both credits and deductions that can be applied to your tax return.Car donation CT Connecticut=Huge [...]

Irs Tax Deduction Car Donation is a post from: The IRS Deductions Blog

Tax Deductible Self Employed

admin — Sat, 04 Dec 2010 06:27:03 +0000

Question: About tax deductible?I am a self employed individual in Alberta Canada and i am curious as to what is considered deductible. i make roughly 60,000 per year and calculated (hopefully generously) that i should save about 20,000 by year end for taxes. If i were to make a contribution of say 6,000 dollars to an [...]

Tax Deductible Self Employed is a post from: The IRS Deductions Blog

Tax Deduction For Car Donations

admin — Sun, 14 Nov 2010 14:15:33 +0000

Question: Can I claim a 2008 tax deduction for a car that I donated in 2007?I had the charity letter stored away and completely forgot about it when filing my 2007 return. Is it too late? The value of the donation is $500.Answer: No, the only way to claim it is to amend your 2007 [...]

Tax Deduction For Car Donations is a post from: The IRS Deductions Blog

Tax Deduction Donation Clothing

admin — Sun, 14 Nov 2010 11:25:58 +0000

Question: What type of donations are LEGALLY tax deductable?Please kindly advise the type of donations to charity that are tax deductable? I’m thinking of donating a used car and some used clothes and used computers. Are this deductable. And what will i get on the deductions? Will i get the current value? Also please tell me [...]

Tax Deduction Donation Clothing is a post from: The IRS Deductions Blog

Tax Deduction Vehicle Donation

admin — Mon, 25 Oct 2010 06:59:22 +0000

Question: Donate a vehicle with tax deduction?I would like to know how to donate a vehicle, and how to calculate the tax deduction (federal tax ? state tax). Who I should contact with? I have an used car current market price is about $5000, and would like to sale or donate, but this car requires [...]

Tax Deduction Vehicle Donation is a post from: The IRS Deductions Blog

Deductible Gifts

admin — Thu, 21 Oct 2010 14:04:27 +0000

Question: Is the gift money given to spouse/children tax deductible?Is the gift money given to spouse and/or children tax deductible? If yes, up to what amount for the ‘Married filing jointly’ status?Answer: No. Gifts to individuals (regardless of who they are) have never been deductible. Only gifts to qualified charities are deductible.Items on Amazon Right Now for [...]

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Donated Items Tax Deduction

admin — Fri, 08 Oct 2010 17:28:09 +0000

Question: Goodwill donation deduction on my state return.?I live in Michigan. I take standard deduction. I know I can’t take deduction for items I donated to Goodwill store on my federal return. Can I take deduction on my state income tax return for items donated to Goodwill? (Under public contribution section) Donation value apprx. $500Answer: Generally,if you can’t [...]

Donated Items Tax Deduction is a post from: The IRS Deductions Blog

Tax Deduction Charity Donation

admin — Tue, 28 Sep 2010 02:22:12 +0000

Question: Tax Donation Deduction – Maximum?Lets assume you owe $20,000 in taxes. If you donate $20,000 to some charity, can you deduct that full $20,000, thus owing $0.00 in taxes?Answer: No. The savings is based on your tax bracket. If if you are in the highest tax bracket (35%), a $20,000 donation would only save you [...]

Tax Deduction Charity Donation is a post from: The IRS Deductions Blog

Tax Deduction Car Donation

admin — Thu, 23 Sep 2010 22:10:30 +0000

Question: Federal Income Tax question – Car donation for charitable deduction?I am a 21 yr old full time college student who is still a dependent on my mom’s tax return (she itemizes). I would like to donate my car which has a Fair Market Value of $5,000, to take advantage of the charitable deduction [...]

Tax Deduction Car Donation is a post from: The IRS Deductions Blog

Cfc Tax Deduction

admin — Wed, 22 Sep 2010 09:03:32 +0000

Items on Amazon Right Now for Cfc Tax Deduction: 1.3 Withdrawal of agent’s copies of some PAYE and SA forms HMRC has notified the professional bodies that as part of the drive to save costs it plans to stop issuing copies to agents of some mail which is sent to clients.Dual Resident Corporations Simplify TaxesCfc [...]

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2008 Tax Deduction Tips

admin — Tue, 31 Aug 2010 16:41:16 +0000

Question: I cant make sense of this FAFSA question and all the help provided refers to US tax forms…?What was your parents’ adjusted gross income for 2008 (question 86)? How much did your father/stepfather earn from working (wages, salaries, tips, etc.) in 2008 (question 89)? So far i think the first question does not include [...]

2008 Tax Deduction Tips is a post from: The IRS Deductions Blog