The IRS Deductions Blog

Posts Tagged ‘income’

Question: Is it better to refinance a mortgage for a tax deduction or continue with my 15 year mortgage?

I have 10 1/2 years left on a 15. Single, retired and no dependents.Pension(60,000) Does it make sense to refinance?

Answer: Interest rates dropped to around 6.10% for a 30 year loan. What is your interest rate. Will you save money by refinancing? Your mortgage does not account for much of a deduction. You may want to stay the course.

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J.K. Lasser’s 1001 Deductions and Tax Breaks 2012: Your Complete Guide to Everything Deductible $9.98 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…

Tax savings Home Based Business – Business Use Percentage BUP

Question: Does anyone know of a charity that would accept jewelry as a donation?

I have an old engagement ring that I would like to donate to a charity that is recognized by the IRS (for tax deduction purposes). Does anyone know of an organization that would accept a piece of jewelery? Thanks……

Answer: I might suggest a better alternative… send your ring to MIDWEST REFINERIES & donate the proceeds to whomever you choose. Midwest is not like those scams Gold kit and such. They are a real refinery – family run – take a very small (%5) of the gold value. I have done business with them for 2 years now. They don’t charge any Extra for assaying or melting. They pay you strait up 95% of the value of the gold in the jewelry. You can look them up at www/midwestrefineries.com No order is too small. If you send to them on Monday… many times I have gotten payment by the following Monday. Most Charities other than the salvation army wouldn’t know what to do with the Ring or it would unfortunately now days end up in someones pocket. I run a non profit & that is where we send all our jewelry we get from storage auctions or donaitons.

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New rules for vehicle donations: IRS tries to curb abuses.(from The Tax Adviser): An article from: Journal of Accountancy $5.95 This digital document is an article from Journal of Accountancy, published by Thomson Gale on June 1, 2006. The length of the article is 644 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. You can view it with any web browser.Citation DetailsTitle: New rule…

IRS Permits Use Of Expenditure Responsibility For Most International Grants.(Internal Revenue Service )(Brief Article): An article from: Fund Raising Management $5.95 This digital document is an article from Fund Raising Management, published by Hoke Communications, Inc. on July 1, 2001. The length of the article is 543 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. You can view it with any web browser.Citation DetailsT…

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IRS TAX TIPS: Charitable Contributions (ASL, CAPTIONS, & AUDIO)

Question: Are federal tax payments sent with 2005 returns deductible on 2006 returns?

Answer: No, federal tax payments are not deductible. However, state tax payments could be deducted on the federal return as an itemized deduction (Schedule A.)

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When are legal fees deductible?

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Senate Session 2011-06-29 (14:30:39-15:32:24)

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Can an estate deduct a loss on the sale of the decedent’s personal residence.: An article from: The Tax Adviser $5.95 This digital document is an article from The Tax Adviser, published by American Institute of CPA’s on August 1, 1998. The length of the article is 1365 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. You can view it with any web browser.From the supplier: I…

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