0
On US income taxes, you are allowed to deduct charitable donations if you itemize deductions. There's a specific line on Schedule A for this that's pretty clearly labelled.
If you don't itemize, you aren't allowed to deduct charitable donations.
You are never allowed to deduct "giving money" in general... it has to be to a legitimately recognized charitable organization. Giving money to a specific person is not deductible; giving money earmarked for a specific person, even if you're technically giving it to a charitable organization, is also not deductible.
What else can I help you with?
What are the two types of payroll deduction?
One type of payroll deduction is all the taxes you have to pay such as federal, state and social security. Another type of deduction is your health insurance.
Can you sue your ex boyfriend for for giving money?
it matters on what type of situation
Is US money considered paper?
yes, Us money is made out of a type of special money.
Do you receive a tax deduction if you participate in a car donation program?
Yes, one does receive a tax deduction is one participates in a car donation program. However the amount of money deducted from their bill will vary on the type, make, and year of the vehicle being donated.
What are the two of payroll deductions?
One type of payroll deduction is all the taxes you have to pay such as federal, state and social security. Another type of deduction is your health insurance.
What type of assets qualify for a marital deduction in estate planning?
REAL aSSETS
When energy is released during a reaction it is considered what type of reaction?
When energy is released during a reaction, it is considered an exothermic reaction. This means that the reaction is giving off heat to the surroundings.
Is credit considered a type of loan?
Yes, credit is considered a type of loan because it allows individuals to borrow money or make purchases with the agreement to pay it back later, often with interest.
How do you calculate deduction in Excel?
There are various ways, depending on the type of deduction, or if you want to get the actual deduction or the total remaining after. You can get a percentage and take it away from the amount. For a 10% deduction you could do this to get the deduction, where the initial value is in A2: =A2*10% To get the total remaining after the deduction: =A2-A2*10% Or you could do it this way: =A2*90% If you know the fixed amount to be taken off, say 150, then you could do this: =A2-150 You could calculate all the deductions and then use the SUM function to add them up, if you are looking for total deduction. If it is individual deductions like tax, insurance, pension etc., they can be individually calculated and then added together to get the total deduction for the person.
In Forager and Horticultural societies what type of leader is considered a big man?
A man who has the ability to sway fellow villagers through the process of gift giving.
Is a lien considered a type of loan?
No, a lien is not considered a type of loan. A lien is a legal claim on an asset as security for a debt or obligation, while a loan is a sum of money borrowed from a lender that must be repaid with interest.
Which type of reasoning moves from specific facts to general facts in order reach a conclusion?
it ic called deduction
