The IRS Deductions Blog

Posts Tagged ‘donations’

Question: I try to buy from “Goodwill” or “Salvation Army” so the money goes to a good cause, but is that tax deductible

I guess that I’ve always considered shopping at these places as “a charitable contribution” because I can get the items new elsewhere. I just think that its a great charity to help support so I try to do as much there as possible. But I’ve never claimed all the money that I put towards that on my taxes. I was told I could by someone at work but they’re not an expert so i thought I would try and get a solid answer. Anyone have any insight?

Answer: NO
Buying isn’t tax deductible DONATING is

Items on Amazon Right Now for Tax Deductible Goodwill:

Charities see change in post-holiday donations

A roof and walls may offer shelter, but its hardly a place to live.

Your Goodwill will go a long way

Items on Amazon Right Now for Tax Deductions For Donations To Goodwill:

Savvy donators flock to Goodwill

Goodwill stores were bustling Thursday with people looking to shed used items before the year’s end and hopefully give themselves a little gift come tax season.

Goodwill receives end of the year donations

Question: Tax Deductible Sponsorships?

I’m trying to raise money for a volunteer summer trip next year but it will cost around $6,000. Unfortunately I do not have this money. I was planning on asking businesses if they would be willing to sponsor me. Would their contributions be tax deductible? How would they file this? If you could please tell me where you found your information, it would be very helpful.

Answer: No, the money would not be tax deductible to the givers. At best it’s a gift and gifts are not deductible.

Even if you were raising money under the auspices of a recognized charity, if the money is given with the understanding that it would be given to you, it’s STILL not deductible.

Items on Amazon Right Now for Tax Deductible Sponsorships:

Bevy of programs to start the New Year in Madison

MADISON – Madison’s Thursday Morning Club will begin the New Year with programs that focus on health and youth sponsorships.

Child Sponsorship in Sierra Leone

Question: Why do most People tend to believe Illegals do not pay Tax?

Why is it Most people tend to believe illegals do not pay tax? I have never received a paycheck without Tax Deductions on it, All items I buy at Walmart, McDonalds, Fiesta, KMart always have tax amount on them, My car was bought in USA so my profit counts in that company and gas stations that I visit daily, it had tax on it.
I did not steal anybody’s SSC. I got my ssc, but later overstayed my visa..

Answer: Because you need a visa to work here legally if you are not a citizen, in which case you will pay tax. I don’t know how you are legally working at a job where you pay your taxes if you do not have a Visa or a social security number. Most illegal immigrants cannot work anywhere without these documents, and so they get cash-paying jobs… and don’t have to pay taxes obviously.

Items on Amazon Right Now for Tax Deduction Items:

Goodwill donations can ease your tax bill

Southland. Did the holiday season leave your wallet a bit lighter? Get a little money back from Uncle Sam by donating gently used clothing and other unwanted items to Goodwill Serving the People of Southern Los Angeles County for an end-of-year tax write-off.

How To Deduct Items You Donate to Charity on your Tax Return

Question: Is cost of software development for proof-of-concept deductible as company (LLC) pre-setup expenses?

I set up the company half way through the software development cycle and paid the vendor company even before my LLC was registered. Can i still deduct those expenses for tax purposes?

Answer: Start up costs have limitations regarding their being
deductible. A general guideline is that they are to be amortized over 15 years but you frequently can take as much as $5,000 additional deduction in the first year.

Items on Amazon Right Now for Its Deductible Software:

Hackintosher’s new line: Linux and T-shirts

Psystar refuses to die The irrepressible Hackintoshers that earlier this month were pronounced bleedin’ demised, only to respond with a Pythonesque “I’m not dead yet!” cry of defiance, have reemerged with a new business model: T-shirts and Linux boxes.… Case Study: WhatsUp keeps Legoland turnstyles ringing

Turbo Tax Rap – It’s Deductible