The IRS Deductions Blog

Posts Tagged ‘reference’

Question: I am a non-resident alien, which line in 1040NR I can put to get tax deduction for buying a car?

Which line I can put my interest from buying CD and having saving account? Who can help my tax for free or low price fee?

Answer: You posted this in the wrong category. This is for Canadian taxes.

There is no deduction in the US for buying a car.

Items on Amazon Right Now for Tax Deduction Buying Car:

Personal Financial Planning Tips : How to Create an Investment Portfolio

Question: Maine dependent tax help!?

I am doing my maine taxes, i’m in highschool and trying my best to figure this out!
The question is…”If you (or your spouse, if filing Married Filing Jointly) are claimed as a dependent on another person’s return, enter the amount of the standard deduction you claimed on your 2010 federal individual income tax return.”
And I am claimed as a dependent, it does not say where I would find this information.
Does anyone know where I can find this out?
Any help is appreciated!

Answer: Ask your parents (if you live with them), most likely they DID claim you as a dependent.

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Question: in the state of ohio are the sales taxes paid tax deductable for 2010 on a used car?

We purchases 3 vehicles and paid the sales tax for each of them. They were used vehicles but the taxes were over $3,000.00. Is there a tax deduction for this in the state of ohio?

Answer: If you itemize you can take the greater of sales tax or state income tax.

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Senate Session 2011-06-30 (12:44:54-13:47:59)

Question: Do I need to file anything to accept donations?

I am running a small political website and would like to place some newspaper ads with the website url. Some people say I need to file with the IRS or the state Secretary of State to do so. What are the regulations, can I just accept non-tax deductible donations and place my ads?

Answer: Yes, you can accept non-tax donations. You will need to apply for non-profit status from IRS. The best way is to incorporate your website in your state first and then obtain a non-profit status from IRS. This will protect your personal assets in case you are later sued.

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Humane Borders’ new face

Humane Borders is recasting itself as it enters its second decade of putting out water tanks for people crossing the desert in attempts to enter the U.S. illegally. The mission remains the same – keeping its blue water tanks filled.

MRFF – Part 06 of 15 — The Danger of Christian Dominionism — An explosive mix of fanaticism.

Question: What is the typical amount for standard deduction on sales tax?

Im trying to do my taxes and I had no major purchases, so I took the standard deduction….it seems hight. I just want to make sure im doing it right. Thanks!

Answer: If you use the table in the Schedule A instructions the IRS will never question it.

If you can prove that you paid more than the table amount then you can claim whatever you can prove that you paid.

In addition if you use the table amount and also had a big-ticket purchase like a car, boat, RV, airplane, etc., you can add the tax paid for that to the table amount as long as you have proof of how much was paid.

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Tax the rich? Good idea, but tried before: Doesn’t work

Suppose you are a conscientious social planner. You are confident in your ability to do good. Alas, you need money to pay for your plans. You decide to meet your need for revenue by raising taxes. But how? You want to be careful to avoid any tax that negatively affects working class men and women – the very people you want to help. You think hard and come up with the perfect solution: a yacht …