The IRS Deductions Blog

Posts Tagged ‘tax’

Question: how can i filr income tax?

Dear Sir,
I m Earning Salary as an accountant from an ad agency.There is no deduction of any tax on it since it is below tax bracket. also i started labour supplier work from this year. i have opened a new company for this purpose. i have started billing & started earning income as proprietor.my querry is how can i show salary from ad agency in my books? is it the indirect income i can show or as a professional fees (but it is actual a salary p.m. for me) but if i show as professional fees then there is requirement of TDS deduction which can not be possible
so how can i complete my books of accounts?
thanking you,
tushar s.

Answer: Tusar Saheb

What you have to do is :
first prepare a profit and loss account of your labor supply income. there after make computation of income
1 Income from salary
2 Income from house property
3Income from business or profession
4 Income from other sources

Then file ITR IV. Before filing the ITR-IV go through the filling instructions.

If you go through ITR IV you will get the answer of your query.

Still you find any trouble get back to us

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Question: tax return – deductions?

hey there

I’m international student working in a hotel as a casual F&B Attendant. I also study Advance Diploma of hospitality. I was wondering what I can claim this year. I heard that I cannot claim the petrol since I don’t travel between jobs. I had to buy uniform, entry card and till card so I guess I can deduct that. I’m gonna claim laundry and maybe shoes. Does anybody know what else I can claim?

Last year I earned less than $12,000 and when I was using calculator from the gov website it showed me that I have low income tax offset (less $1,500). Does it mean that i do not have to worry about deductions and I will get all tax back?

thanksssss

Answer: If you have not been re-imbursed by your company you can claim:
1. Cost of uniform
2. Cost of protective clothing
3. Cost of laundry
4. Mobile phone costs – if you make calls on your mobile for them

However, you may not need to claim expenses as it looks like you are under the threshold for income tax and thefore entitled to all your tax back.

Good luck!

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Question: Is my laptop tax deductible?

I’m going to be buying a laptop, and was wondering if it’s tax deductible as i work for an internet company that requires me at times to access the net for research on a computer at home.

Answer: If it’s for business and you can prove it, then more than likely yes. Ask your accountant though.

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Question: I need a sponsor for my girl scout troop, any ideas?

Hello, My name is Mary L. Jones and I am leader of Girl Scout Cadette troop 3099. This troop is one of few serving 15-17 year olds in the metropolitan Atlanta area. Troop 3099 is geared towards turning young ladies into leaders while keeping them involved in helping the community. In June 2008, we would like to plan a trip costing approximately $2,400.00. With this said, we were wondering if any business could sponsor this trip. Because they are donating to a non profit organization, their contributions will be tax deductible. Does anyone own a business and is interested or know of a business or association that might be so that I can send an official proposal letter to their company.
Thank You,
Mary Jones

Answer: First, talk to your Council – most would frown mightily upon your seeking that large a sponsorship without at the very least going through them. Your troop is not a nonprofit organization, the Council is, and as such any tax receipts would need to come from the Council anyhow.

Second, what type of money earning projects have the girls done towards the trip? $2400 is not an impossible amount to raise, at least a big chunk of it. If the girls are just expecting someone else to foot the bill “as a tax write off” what are they really getting from it? Yes, the trip, but so much more of the Girl Scout travel experience is about the planning and earning and WORKING for the trip.

Different Councils have different rules for earning money, but I can’t imagine a single one that would nod at a troop looking to get a trip entirely funded without the girl’s earning at least a portion of it. At least in the Councils I’m familiar with, approval for trips over certain lengths, distances, and/or expenses requires special approval, including submitting how you plan to finance it, so it’s better to get all this paperwork done now (June isn’t very far away!) and make sure you’ll be approved anyhow before seeking sponsors.

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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 will get the tax-deduction for this donation. Does anyone know what charities accept tax-deductable timeshare donations? I really need to know!
Help! Does anyone know of a charitg that will accept it right away and assume ownership of it? I contacted one charity and they told me that they would try to sell it but the unit would be mine (maintenance fees too!) until they could sell it, “usually within 6 months.”
I want to donate it now, get the tax deduction ASAP, no more maintenance fees!!!

Please let me know if you have ANY information about this, ASAP! Thanks!!!

Sonicbum2112@yahoo.com

Answer: Try any of the charities that accept other property, houses, boats, cars. I think the American Cancer Society takes homes, the Humane Society does as well.

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