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You can deduct gifts to a legitimate recognized charity and you can deduct gifts to a government agency. (You can even make tax deductible gifts to reduce the federal deficit.)
You cannot deduct gifts to a friend, family member, stranger you meet on the street, etc. Basically, if it's going to a specific person rather than a recognized and tax-exempt charity, it's not deductable (not only that, you might even owe additionaltaxes on the money you gave away, if you gave any one person more than $13,000).
However you may be able to get a deduction for housing a victim of certain designated disasters in your home.
Also, corporations are allowed to deduct the cost of gifts (up to $25 per recipient per year) given to clients.
What else can I help you with?
Deduct money gifts to children from income tax?
No, but within certain limits you DON'T PAY gift tax.
What can a registered nurse deduct on a tax return in AZ?
They can deduct their expenses for uniforms, transportation, cleaners, boats and coats. They can also deduct their expenses they did during travels seeing patients for help provided. They can also deduct small tools they bought for their services and they can deduct meals and entertainment for work related. They can deduct mileage travels during work.
Can you deduct money given to your child as a gift on your Federal taxes?
yes i would deduct money to my child.
Can you deduct a loss on an REIT?
no
Can you deduct payroll taxes?
A individual taxpayer cannot deduct payroll taxes on the individual taxpayers income tax return.
Deduct money gifts to children from income tax?
No, but within certain limits you DON'T PAY gift tax.
Can you deduct the cost of savings bonds that you give to your grandchildren?
No. Gifts to any of of the family members are not deductible on your income tax return.
Do you get a deduction when you give a gift?
Only if you're giving it to a bona fide charitable organization. You don't get to deduct gifts given to family or friends.
Can a parent give a monetary gift of 13000 cash to and adult child and deduct if from their gross income?
No deduction on your income tax return for gifts to anyone.
Can you deduct from your taxes money given to elderly parents to help supplement their lack of income and or pay their medical bills?
No deduction on your income tax return for the gifts to your parents.
What is the opposite of deduct?
The opposite of deduct is deposit.
What is the part of speech for the word deduct?
Deduct is a verb.
Can I deduct losses on stocks from my taxes?
Yes, you can deduct losses on stocks from your taxes, but there are limits on how much you can deduct in a given year.
What is to deduct as ascend is to descend?
The antonyms for deduct is to add, to increase, to raise.
What can a registered nurse deduct on a tax return in AZ?
They can deduct their expenses for uniforms, transportation, cleaners, boats and coats. They can also deduct their expenses they did during travels seeing patients for help provided. They can also deduct small tools they bought for their services and they can deduct meals and entertainment for work related. They can deduct mileage travels during work.
Can anyone deduct me from my ip address?
If you meant DEDUCT (as in subtract) then nobody can deduct you from an IP Address!!! If you meant DETECT (as in finding out) then yes, it can be done.
What is the noun for deduct?
The noun forms of the verb to deduct are deduction and the gerund, deducting.
