The IRS Deductions Blog

Posts Tagged ‘obama’

Question: Am I committing Insurance Fraud? I hope not.?

Ok, so I was involved in a fender bender not too long ago. I have a $500 Deductible. Someone I know told me to get a few different estimates from auto-body shops, then my insurance company will send me a check. Then, I should take my car to a friend of his to get the work done really cheap, and I should pocket the excess cash from the check my insurance company sent me.

Answer: It’s legal enough. You get an estimate, let’s say for $1,250, they deduct your $500 and send you a check for $750 which you give to his friend. What quality of repair do you think you will get? What guarantee will you have when it’s finished?

Do you really think you will get a quality $1,250 repair for $750?

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Insurance commissioner Kim Holland takes company’s control

Oklahoma Insurance Commissioner Kim Holland has taken control of a Texas-based insurance company “owned and managed by scam artists” engaged in the “ongoing looting” of the business, Holland said in court filing.Holland claims the management of Imperial Casualty and Indemnity Co., based in Frisco, Texas, and licensed in 47 states including Oklahoma, “is not fit to be engaged in the business of …

Health Reform & Seniors (04/08/2010 Webcast)

Question: Did anyone receive a free copy of Tax Cut software?

I used Tax Cut software to file my 2007 taxes. Then, I received a copy of the 2008 version in the mail.

Answer: You might launch the CD and then it may ask for a key to continue which you would have to purchase from the web site. I’m not sure as I have not received one.

However, if you do a 1040EZ or a 1040 with Schedule A, you can do those for FREE at the TurboTax web site and even do your electronic filing for FREE on the Federal return. (They charge for the state product). I used it last year and will also use it this year.

http://turbotax.intuit.com/

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Arizona GOP lawmakers propose sweeping tax cuts

Arizona House Republicans on Tuesday proposed a sweeping package of tax cuts aimed at helping businesses, with Speaker Kirk Adams saying the incentives are needed to spur economic development and add high-paying jobs in the state.

Legislature looks at pay cuts & tax hikes to balance budget

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Lots of shopping, little money

With a Christmas list 1,576 children long and only 481 names sponsored, there’s a whopping lot of shopping left to do for the annual Season of Hope charity Christmas effort.

See who’s Redefining Christmas

Question: Would You Like to Help In Terrorist Watch?

To Keep the Jew Watch Research and World Today Radio Shows in Operation.
Bandwidth, Hosting, and Scholarly Research Do Not Just Happen. They Cost.
Your Kind Donations Make These Things Possible.
These donations are Not Tax Deductible.

Answer: Nice work!

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Donate your gag gifts to be South Tahoe Chamber raffle prizes

The South Shore Chamber of Commerce will accept unwanted Christmas gifts or other items to be used as drawing prizes at chamber mixers. The donations are tax deductible and may be brought to chamber the office at 2572 Lake Tahoe Blvd., Suite 3.

$25 gift tax deduction

Question: Are my advertising costs tax deductible for my small business?

Answer: The expense of advertising your business are deductible as business expenses. You should report your business revenue and expenses on Schedule C of your form 1040. The resulting net income or net loss is reported on page 1 of form 1040.

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$145,000 pledged to ‘Pride in the Falls’ effort

The initiative “Pride in the Falls” continues to gain momentum through local business and individual contributions, according to Carla Bolin, vice president of communitywide marketing for the Wichita Falls Chamber of Commerce. The “Pride in the Falls” fundraising campaign is a challenge to match 4A funds up to $250,000, which will more precisely coordinate efforts of the city, the chamber of …

Biased News