Comments on: Ask the taxgirl: Donating an Engagement Ring http://www.taxgirl.com/ask-the-taxgirl-donating-an-engagement-ring/ Paying taxes is painful... but reading about them shouldn't be. Sat, 20 Mar 2010 11:07:42 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Vintage Engagement Rings http://www.taxgirl.com/ask-the-taxgirl-donating-an-engagement-ring/comment-page-1/#comment-12920 Vintage Engagement Rings Sun, 22 Nov 2009 19:02:40 +0000 http://www.taxgirl.com/?p=4240#comment-12920 Hey you and Rick you both are thinking wrong but doing good work of donating for a person. Relation may never ends however you donate ring or keep it with you anyhow. Hey you and Rick you both are thinking wrong but doing good work of donating for a person. Relation may never ends however you donate ring or keep it with you anyhow.

]]> By: Roth & Company, P.C. http://www.taxgirl.com/ask-the-taxgirl-donating-an-engagement-ring/comment-page-1/#comment-12705 Roth & Company, P.C. Thu, 29 Oct 2009 12:54:51 +0000 http://www.taxgirl.com/?p=4240#comment-12705 <strong>Tax breaks for the runaway bride...</strong> TaxGrrrl ponders the tax implications of donating slightly-used engagement rings and wedding dresses to charity....... Tax breaks for the runaway bride…

TaxGrrrl ponders the tax implications of donating slightly-used engagement rings and wedding dresses to charity…….

]]> By: Rick http://www.taxgirl.com/ask-the-taxgirl-donating-an-engagement-ring/comment-page-1/#comment-12701 Rick Wed, 28 Oct 2009 21:32:47 +0000 http://www.taxgirl.com/?p=4240#comment-12701 Quote, "remember that the cost of the tax pro’s services is also deductible" (not trying to be critical just adding this in) I am a Tax Pro with a major Tax Prep firm. We have gotten used to telling clients the quote above, when I teach tax classes or speak I have to remind folks that the answer to every tax question is "it depends". The tax prep fee is in the part of the Sch A that has a 2% floor. In other words only the amount in this section over 2% of AGI is dedutible. I hate to disappoint clients by telling them something is dedutible and then it has no effect on the bottom line of their tax return. Quote, “remember that the cost of the tax pro’s services is also deductible”

(not trying to be critical just adding this in)
I am a Tax Pro with a major Tax Prep firm. We have gotten used to telling clients the quote above, when I teach tax classes or speak I have to remind folks that the answer to every tax question is “it depends”. The tax prep fee is in the part of the Sch A that has a 2% floor. In other words only the amount in this section over 2% of AGI is dedutible. I hate to disappoint clients by telling them something is dedutible and then it has no effect on the bottom line of their tax return.

]]>