Browse all the Lawforwa Resources on Taxes

Resource Description:

Questions answered by the resource:

Pooled Charitable Trusts
http://www.nolo.com/lawcenter/ency/article.cfm/obj
Source: Nolo

General information regarding Pooled Charitable Trusts. These trusts allow those with smaller incomes to get the tax benefits of contributing to a charitable trust.
full description

• What is a pooled charitable trust?
• What is the tax advantage of contributing to a pooled charitable trust?
• Do I get to take a tax deduction on the money I put into a pooled charitable trust?
• Do I have to pay tax on the income paid to me by a pooled charitable trust?
• Can I continue to contribute to a pooled charitable trust after make an initial donation?
• How much of a tax deduction do I get for a contribution made to a pooled charitable trust?
• What happens with money donated to a pooled charitable trust after the death of the beneficiary?
• What are the consequences of donating appreciated property to a pooled charitable trust?

Charitable Giving: Before You Give
http://www.abanet.org/tax/taxtips4u/charity-b4.htm
Source: American Bar Association

Checklist of items one should consider before making a charitable gift.
full description

• What should I know about a charity before I make a donation?
• How do I know if an organization is a non-profit tax exempt charity?
• How do I know if an organization is a legitimate charity?

Child and Dependent Care Credit
http://www.irs.gov/faqs/faq7-1.html
Source: Internal Revenue Service

Answers to frequently asked questions regarding the Child and Dependent Care Credit.
full description

• Can I claim the Child and Dependent Care Credit?
• May I include my 5 year old son's parochial school kindergarten tuition cost as a qualified expense in Form 2441, Child Care Expenses?
• I paid into a dependent care benefits plan and the amount is shown in Box 10 of the my Form W-2. However, the cost paid to the child care provider was more. Can the additional expense not paid into the dependent care benefits plan and not shown in Box 10 of the W-2 be claimed on Form 2441?
• If my employer did not put the amount I paid into a flexible spending account for dependent care in box 10 on my Form W-2, can I claim the Child and Dependent Care Tax Credit?
• How can my employer say they provided a benefit in the total amount of $3,000 in W-2, Block 10 when I had $3,000 in wages set aside for dependent care benefits?
• How do I complete Form 2441 if I have flexible dependent care benefits through my employer?
• I am self-employed, but did not have a net profit last year. Is it correct that we do not qualify for the Child Care Credit on our joint return even though my wife received dependent care benefits on her W-2 box 10?
• Is a flexible spending account for dependent care a dependent care benefit?
• My divorce decree states that my ex-spouse can claim our daughter as an exemption on alternate years. I am the custodial parent and pay child care expenses. Can I claim child care expenses on the years he takes the exemption?
• My babysitter refused to provide me with her social security number. Can I still claim what I paid for child care on my taxes while I worked? If so, how?
• As a child care center, are we required to give out tax statements to any of our parents who request one?
• If I send my child who was under the age of 13 to a day camp instead of a child care facility for the summer, are these deductible expenses?
• I am thinking of having a family member baby-sit for my child full time in their own home while I work. Are either of us responsible for taxes on the money I would pay?
• Can elderly day care payments qualify for the child and dependent care credit?

Reducing Estate Tax through Gifts
http://www.nolo.com/lawcenter/ency/article.cfm/obj
Source: Nolo

General information regarding using gifts to reduce the amount of estate tax that may be owed upon death.
full description

• How can I reduce the likelihood of estate tax liability upon my death?
• How much can I give to a person per year without incurring taxes?
• How does giving gifts reduce the amount of estate tax that I may owe at death?
• How does the Annual Exclusion work?
• Can both people in a 'couple' give gifts of the exclusion amount to the same person?
• How does the Double Exclusion for couples work?
• How much can be given to a 'couple' in a year without incurring taxes?
• Can I make a gift to my spouse without incurring taxes?
• What property should I give away in attempt to reduce future estate taxes?
• What is a 'tax basis'?
• Is it better to make a gift of property that has increased in value or property that is expected to increase in value?
• What does 'carry-over basis' mean?
• What should I know about giving gifts to young children?
• Do gifts to children qualify for the Annual Exclusion from tax liability?

Publication 17 - Federal Income Tax Return
http://www.irs.gov/pub/irs-pdf/p17.pdf
Source: Internal Revenue Service

IRS publication designed to help taxpayers prepare their federal income tax return. It supplements the information in the tax form instruction booklet. It explains the tax law and helps one understand their taxes so that they only pay the tax they owe. (This is a large document; please allow time for it load onto your computer.)
full description

• Where can I find information on federal income tax returns?
• How do I know what my filing status should be on my federal tax return?
• Where can I find information on estimated tax?
• Where can I find information on tax withholding?
• Where can I find information on tip income?
• Where can I find information on rental income?
• Where can I find information on reporting income on my federal tax return?
• Where can I find information on the tax consequences of selling my home?
• Where can I find information on moving expenses?
• Where can I find information on the tax consequences of paying or receiving alimony?
• Where can I find information on the sorts of expenses allowed when filing a federal income tax return?
• Where can I find information on figuring the amount of tax I owe?
• Where can I find information on the tax credits that may be available to me?
• Where can I find a 2002 tax table?
• Where can I find tax schedules for 2002?
• Where can I find information on my rights as a taxpayer?