Posts Tagged ‘amount of money’
Does my business have to make any money for me to take tax deductions?
Posted by admin in US Tax Questions on December 21st, 2010
I set up a business that has brought in zero amount of money. I have invested money in materials to do this business and I am wondering if I can take business tax deductions when no income can be reported from it.
Is it ethical for a well-off family to get tax deductions for their kids?
Posted by admin in US Tax Questions on December 2nd, 2010
Taxes are big topic of conversation in the US. One issue – if a given amount of money must be taken in by the treasury and people who are well off (say > ,000/y) get tax deductions for their kids, it means other people who don’t have kids have to pay more. Is this ethical? Please don’t equate being ethical with being legal.
How do charitable donation tax deductions work?
Posted by admin in US Tax Questions on July 7th, 2010
I am possibly moving across the country and am considering donating all my furniture and most of my belongings to Goodwill or the like as an option for getting rid of stuff. I make 38,287 a year, how much (value) would I have to donate in order to have it be tax-deductible?
Someone told me that unless I make above a certain amount of money that I can’t make charitable deductions, that deductions are only available to people in higher income brackets. Is this true?
Any website, (other than IRS) that explains this stuff in plain English?