Tax FAQ
 

Are Payments Made To The IRS Tax Deductible For The Following Year?

Question by NAT W | Posted in United States

I am paying the IRS 300-400 a month this year. Will I be masterful to claim this next year when I itemize?

Answer: There is a part of the country for you to fill in how much you paid in federal taxes in the previous year, but it has nothing to do with itemizing.

You might be able to list your state income taxes, if you paid any during the year.
 
 

With IRS Energy Tax Breaks No Longer Deductible In 2009, What Else Can I Do To Write Off My Taxes?

Question by charlessmith702210@sbcglobal.net | Posted in United States

2008 Receipts Taxes--How to negate the damaging effects of deductions that will be taken away from the IRS productive 2009.

Found out that doing energy-saving write-offs for your IRS taxes will no longer be deductible in 2009.

Answer: Know about:
- adjustments to income: http://www.irs.gov/publications/p17/pt04 .html

- itemized deductions: http://www.irs.gov/publications/p17/pt05 .html

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Are Samples Considered A Qualified Tax-deductible In-kind Donation?

Question by ashley h | Posted in United States

I am bothersome to figure out if sample items donated to a nonprofit are considered tax-deductible. For example, if a doctor donates medication samples provided to his/her task by a pharma company, can the office claim a deduction?

It seems to me like they would not be able to, yet I have yet to find the typical of place in IRS tax code that prohibits it.

Answer: The abstraction is limited to the cost of the goods donated. If they were free samples given to the doctor by the pharmaceuticals house without charge then there is no deduction.

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Since Dec 31st Is A Saturday, Is The IRS Deadline For Tax Deductible Expenses The Next Working Day (Jan 2)?

Question by victorialvalentine | Posted in United States


Answer: No. It is December 31 11:59:59.999 PM. The only special case would be certain fiscal filers. This would not apply to individuals.

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Under What Law/provision In The IRS That States Piano Tuition,ballet,etc Are Not Tax Deductible?

Question by Ruby | Posted in United States


Answer: You are attempting to call piano lessons neonate care. Piano lessons fall under TUTORING and are not allowed. See last sentence below. You are not paying the piano advisor to watch your child, you are paying them to teach your child. The IRS makes a distinction between the two.

From the 2441 instructions:
Distress of the Qualifying Person
Care includes the cost of services for the qualifying person's well-being and shelter. It does not include the cost of clothing

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