Devendra JainIn a vastly populated developing nation, the parallel role of NGOs in public welfare is indispensable. The Income-tax Act, 1961 has recognized the importance of the very concept of charity in the Indian society. The income derived by charitable institutions is exempt under section 10 or section 11. This article discusses certain issues arising out of section 11, which provides exemption to income derived from property held under...more
Ever want to know how social security tax rates have changed over the years? Let’s start by reviewing how money comes into the social security system. How Money Goes InIt all starts when a parent submits a social security card application for a social security number for their child. That social security number becomes the identifying criteria for a number of activities, including establishing a 529 College Savings account....more
If you've been thinking about donating a car for a tax deduction and not sure how to go about it, here are some tips you should know. You want to be able to donate the car, truck, RV, boat, motorcycle or other vehicle and get the best tax write-off while helping a charity do its work.You'll see many places advertise with big "Donate Your Car" headlines. But, oftentimes you may have never heard of the charity or organization. Some may be smaller charities, and many times you'll find they are intermediaries who handle donated cars for charities.If you go through one of the intermediary car donation organizations, they'll be taking a sizable amount for profit and it could be as much as 50% to 90%. They may handle a lot of the details the charity isn't set up to do but this needs to be checked out. So if you're interest is in giving the charity the most amount of profit it's better to go direct through a charity. If this doesn't matter to you then you may want to go through an intermediary and their car donation program.Some charities keep the car for transporting people and goods on occasion. Some charities put them on their used car sales lots and sell them much the way used...more
Low Income Housing Tax Credit (LIHTC or Housing Tax Credit) program has been made a permanent element of chapter 42 of the Federal Income Tax Code. Owners of Low Income Housing Tax Credit Properties receive tax credits for a portion of the construction/renovation cost. Tax credits can be used to directly reduced federal income taxes. (Tax...more
Its tax time again across America and for most people that means taking time to round up the receipts, W2 forms, and mortgage documents necessary to file with the IRS. It's estimated that more than half of the filers use an accountant or CPA to prepare their taxes and this meeting can make even the coolest of customers sweat. The...more
If you are working in medical industry or any healthcare clinics, you probably understand the importance of premium quality scrubs no matter if its tops or pants. Some time ago, scrubs were just available in plain colors and were usually white without any style or designs. However, as our technology develops and time keeps changing things, scrubs have also seen a lot of changes especially today, scrub tops and pants became colorful, bright and sometimes playful at the same time. Up until today, manufacturers have started to release new styles of scrubs such as NFL scrub tops.You can actually purchase your NFL scrub tops that meet all your requirement from your place of work while providing you the flexible and functional wardrobe that is perfect for your advancing career and your self esteem as well. You might think that this type of scrub is too playful because of its design. Why not look into the lighter side, these NFL scrub tops make you fashionable and stylish while keeping your professionalism look.The NFL scrub tops offer you the opportunity to be all you can be while doing your job in the medical industry no mater if you are a dentist, nurse surgeon or a doctor. You will...more
Getting a tax deduction is every tax payer's goal. Luckily, the laws in taxes make it simple and easy to reach this goal. One can decrease taxable income through several tax deductions or lessen tax liability through a range of credits.Here are lists...more
One of the best ways to invest in real estate, even in this economy, is by purchasing tax foreclosure properties. Tax foreclosure properties are the result of unpaid tax debt. First a tax lien is placed on a property when the owner fails to pay the...more
Real estate can be a very good investment, even in these economic times. You can make money on property by learning about tax foreclosure properties. Tax foreclosure properties are real estate properties that have been taken and will be sold for...more
In these economic times there is still a way to make money with real estate. You can learn how to make money with tax foreclosure properties. Tax foreclosure properties are properties that are being foreclosed due to tax liens. Those who are...more
Many people find paying taxes to be a frustrating, painful, and time-consuming exercise. But with a little preparation and help from technology, you can revolutionize your tax paying experience into something that is, if not pleasant, at least...more
Maxwell s defining electromagnetism was seminal in creating the modern era of physics at the turn of the 20th century. Einstein spent the latter third of his life trying to explain how gravity, electromagnetism and two other fundamental forces...more