Contributing to a GoFundMe or other crowdfunding campaign may be considered a good deed, but is GoFundMe tax deductible? If you’ve donated to a crowdfunding effort, it’s usually considered a personal gift. But in some cases, it might not be tax deducti
You may be required to pay a federal gift tax if you give somebody a large sum of money, but that's not always the case. The annual gift tax exclusion allows you to give a certain amount to friends and family without paying taxes. Discover how gifts are
Include your child's unearned income on your tax return by usingIRS Form 8814. It's important to note that doing so could result in a higher tax rate for you than if the child filed their own tax return. It all depends on the amount of unearned income your child reports.720 Note Take...
To calculate your effective tax rate, you need two numbers: the total amount you paid in taxes and your taxable income for that year. You can access both numbers on your tax return. Your total tax is located on Form 1040, line 24 of your federal tax return. Your taxable income is your...
The cost of many emergency services has increased more than the high inflation rate you see in the news. Between high inflation and recent company layoffs, it’s important to carry a good cushion of readily accessible cash if anything comes up,” says Tony Delane, a certified financial ...
Capital gains tax rate is higher on sales of collectibles Monday, September 16, 2024 Photo by Haley Owens on Unsplash The hubby is a patient and tolerant man. I'm glad those traits apply to some of my annoying tendencies. But one thing I do that drives him crazy is picking up coins ...
With the unemployment rate currently at 10% it’s likely that you, or a friend or family member, may be looking for work. This week’s post is about tax breaks related to being unemployed orhunting for a new job. Tax Tips for Job Seekers ...
Long-term capital gains rates (for investments held longer than one year) are taxed at preferential rates: 0%, 15%, or 20%, depending on your tax bracket. Short-term capital gains (for investments held one year or less) are taxed at your ordinary income tax rate. Most dividends and int...
effects — by helping one group of people, you may be harming another group of people," said Holzblatt, noting the potential impact of how the labor market, in terms of wages and salaries, gets restructured — it gives the employer an incentive to change the base rate, or regular pay."...
Incidental costs include beverages, private phone calls, tips and room service.What is the SARS deemed daily rate?SARS has a set deemed rate for meals and incidental costs for local travel, applicable per night the employee spends away from home. They also have a fixed daily amount for ...