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Wray Rives CPA CGMATax Professional Level: Tax Enthusiast
You can take a deduction for casualty loss on the home. You may want to read IRS Publication 547 for more information on casualty losses in disaster areas. http://www.irs.gov/pub/irs-pdf/p547.pdf Read More
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Randy TarpeyTax Professional Level: Tax Enthusiast
There are several limits or additional disclosures to consider when deducting property contributions. If your contribution exceeds $500 you must complete form 8283 in addition to claiming the contribution... Read More
Wray Rives CPA CGMATax Professional Level: Tax Enthusiast
The deduction for contributions to public charities is limited to 50% of your adjusted gross income before any adjustment for net operating loss deductions. Read More
Devon McCarthy FCCA, EATax Professional Level: Tax Enthusiast
Individuals may generally deduct up to 50% of AGI, but 20% and 30% apply in some cases. (See IRS publication 526 for more detail). Read More
William KeatsTax Professional Level: Master Tax Advisor
Political contributions to political parties for candidates or PACs are not deductible. Read More
William KeatsTax Professional Level: Master Tax Advisor
The EIC is basically a refundable tax credit for low-income earners. It is based on earned income: wages, self-employment income, combat pay, disability pay, . Taxpayers with investment income of more than $3200.... Read More
Jane SwainTax Professional Level: Tax Enthusiast
if you spend six months of the year in the UK you are likely to be UK resident under UK tax laws. however i suspect that spending six months in Spain will make you resident there as well under Spanish law. You will... Read More
William KeatsTax Professional Level: Master Tax Advisor
The U.S. has tax treaties in effect with 46 countries. Most of these countries have a provision that provides an exemption from U.S. tax on certain types of income received by students and scholars. Treaties are... Read More
Jane SwainTax Professional Level: Tax Enthusiast
If you leave the UK for the purposes of full time employment abroad and do not visit to carry out any duties in the UK other than "merely incidental" duties then you will be regarded as non resident from the date... Read More
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