Posts tagged as:

deductions

Taxes, Donations and Lending a Hand

21 December 2009

In the tradition of tax years past, it’s the season to talk about charitable contributions! Charitable donations are an excellent way to reduce your tax burden for the year, all while doing something for the greater good. But as with everything in tax law, there are rules that need to be followed. For one, you [...]

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Ask the taxgirl: Paying Rent to the Parents

20 October 2009

Taxpayer asks: Thanks for taking my question. I moved back home last year after I lost my job. I’ve been paying my parents some rent but I can’t afford to pay the original amount that we agreed on. Can they take the difference between what I promised to pay and what I actually paid as [...]

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Ask the taxgirl: Pastors and Deductions

6 October 2009

Taxpayer asks: I read this article today and it seemed very aggressive, bordering on overly aggressive. Can you comment? http://www.startchurch.com/blog/view/name/can-pastors-deduct-tithes-as-business-expenses The tithe situation here just seems too good to be true. Next, my understanding that pastors are considered self-employed only for purposes related to the SE tax, not for deducting expenses. Therefore the home office [...]

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Ask the taxgirl: Deducting Gift Cards

2 June 2009

Taxpayer asks: Hello, I am an independent contractor and work with teachers. If I purchase gift cards to award those that completed required assessments by the deadline given. Can I deduct the cost of these gift cards? I would appreciate any information you can provide. Many thanks, Taxgirl says: I love this question because it’s [...]

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Real Estate Tax Deductions for 2008 and 2009

10 March 2009

Traditionally, taxpayers who owned homes could only deduct state and local real estate taxes if they opted to itemize their deductions. However, for the tax years 2008 and 2009, taxpayers who opt for the standard deduction are getting a break: there is an additional standard deduction for those who pay state or local real estate [...]

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Twitter Tax Tips #7

8 March 2009

For 2008 tax year, those who itemize can deduct state and local general sales taxes OR state and local income taxes. #TwitterTaxTip (For more on twitter tax tips, see my prior explanatory post.)

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Ask the taxgirl: Home Repair Expenses

11 February 2009

Taxpayer asks: Taxgirl, where do you deduct expenses for fixing your home? My neighbor said that I can take off the cost of fixing my roof on my taxes but I don’t know where to put it. Taxgirl says: Hmm. I’m not sure that you should be getting your tax advice from your neighbor. Generally, [...]

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Ask the taxgirl: Where to Report Charitable Contributions

9 January 2009

Taxpayer asks: Hello there and thank you for answering my question. I am self employed and contributed nearly $8,000 in cash/non cash donations this past year (goodwill, church, habitat for humanity). When my friend did my taxes on her computer program it did not reflect a deduction upon entering in the charitable donation information. I [...]

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Ask the taxgirl: Cash and Charitable Donations

29 November 2008

Taxpayer asks: While we were out shopping, I put a $20 in the Salvation Army kettle in front of the store. I say we can take that as a deduction but my husband says no. Who is right? P.S. I have a new digital camera riding on your answer. Taxgirl says: Gosh. I hope your [...]

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Ask the taxgirl: School Uniforms

11 September 2008

Taxpayer asks: Can I deduct my son’s school uniforms on our taxes? They are required. Thanks. Taxgirl says: Unfortunately, no. Trust me, I wish it were different (my older daughter’s school requires uniforms, too). The IRS does not allow deductions for school uniforms, even if required, for public or private schools. All is not lost, [...]

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