11. Charitable groups do not pay federal taxes and their donors may take tax deductions for their contributions. 12. Deductions are taken if an element is not completed or repeated. 13. Even if you own more than one home, you can take a deduction for all the real estate taxes you paid during the year. 14. Employee health benefits are not counted as taxable income to employees, and employers may take tax deductions for the cost. 15. Feeney also declined to take a deduction on his personal income taxes for the money he gave to the foundations, in order to preserve the secrecy. 16. For those taxpayers who want to take the deduction, Edwards said, there are some things that can be done to enhance the likelihood of passing IRS muster. 17. Given that book value, would I be better off making the donation and taking the deduction? 18. He said he wanted to give honest taxpayers guidelines for taking legitimate deductions, and show how they could reduce risks when deductions exceed statistical norms. 19. His bill would force companies to deduct stock options from earnings if they take a tax deduction when options are exercised. 20. I married last year and will no longer be able to take the deduction. |