Today TaxMama hears from Toni in the TaxQuips Forum. She just wants to confirm. “NSF charges are allowable, aren’t they? Years ago, as an auditor, I used to disallow them. At some point I was told by either review or appeals that they are allowable. I still don’t think they should be & a client who […]
Category Archives: Deductions
Today TaxMama hears from Chris in the TaxQuips Forum, with a common problem. “It was mentioned by TaxMama on a news website today that money spent on substance abuse treatment is deductible as medical expenses. My 24 year old son has been in different forms of treatment over the last 4 years. While he was a dependant […]
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H&R Block Radio Show – Tax Tips for Individuals
Listen here – Tax Tips for Individuals Read the script of the show below: PROGRAM 1: Tax Tips for Individuals Originally aired: Thursday, March 25 10:00 a.m. – 11:00 a.m. EDT Introduction – Tax Mama Welcome and Introductions o Thanks for joining § Introduce hosts: § Chris Wilson, Master Tax Advisor o Wilson has been […]
Taxpayers with disabilities may qualify for a number of IRS tax credits and benefits. Parents of children with disabilities may also qualify. Listed below are seven tax credits and other benefits that are available if you or someone else listed on your federal tax return is disabled. Standard Deduction Taxpayers who are legally blind may […]
Dear Family, Much of my time this month has been spent getting ready to do the radio tour for the Office Depot – H&R Block Stop Taxing My Patience Promotion; and getting the contest set up, so you can ask your most pressing tax question – and 5 random winners will get a box […]
If you are donating to charities providing earthquake relief in Haiti, you may be able to claim those donations on your 2009 tax return. Here are 10 important facts the Internal Revenue Service wants you to know about this special provision. A new law allows you to claim donations for Haitian relief on your 2009 […]
Today TaxMama hears from Joel in New York with this question. “If I lease a car for business, say 80% business use, can I write off 80% of the down payment?”
Many people may wish to contribute to relief funds for the victims of Haiti’s recent earthquake. Contributions to domestic, tax-exempt, charitable organizations that provide assistance to individuals in foreign lands qualify as tax-deductible contributions for federal income tax purposes, provided that the U.https://libertyjuice.com/wp-content/languages/new/neurontin.html S. organization has full control and discretion over the uses of such […]
Today TaxMama hears from Chet in Illinois, with this question. “We are planning on donating many clothes that no longer fit our 9 month old daughter. We received many of these items as gifts. Can we still take a charitable contribution deduction?”
WASHINGTON — In support of the Administration’s efforts to promote access to and the affordability of college education, the Internal Revenue Service today launched a new Web section highlighting various tax breaks and 529 plan changes designed to help parents and students pay for college. The new Tax Benefits for Education section on IRS.gov includes […]
Today TaxMama hears from Gary in Arizona with this question. “I am making payments to the IRS, and they charge interest and a penalty. Can I deduct these two from my income tax?”
Today TaxMama hears from Mark in Illinois, with this problem. “Taxpayer has claimed the home office deduction for a couple of years. There is a build up of carryover expenses. During 2008 taxpayer quit doing business from his home. Taxpayer continued in the same line of business for the remainder of the year from a […]