The tax deduction for business autos is equal whether they are bought outright, leased, or financed Limits for Cars, Trucks, SUVs or Crossover Vehicles with GVW above 6,000lbs Certain cars or trucks (with a gross vehicle weight rating higher than 6,000 lbs. but don’t exceed 14,000 lbs...
• Rollover funds: The funds rolled over must have been in the 529 plan for at least five years. Electric Vehicle Credit Taxpayers who purchased an electric car may get up to $7,500 in a credit, but the eligibility rules have become tighter. Limitations include income limits, price caps...
Estate Tax Charitable Deduction Allowed Where Reformed Charitable Trust Qualified as CRUT.The article discusses the U.S. Internal Revenue Service's issuance of Private Letter Ruling 201333006 which deals with trusts, reformed charitable remainder interest, and estate tax charitable deductions under Section...
Institution, organisations or funds that have been granted approval will receive benefits and income tax exemption on all income received and donors to the said institutions, organisations or funds are eligible for a tax deduction restricted to 10% of the aggregate income. Among the conditions that...