Income Tax Time Is Close

If you have children under 17 years of age, consider filing a claim under the child tax credit. If for some reason you cannot claim the full child tax credit, you might be able to claim the additional child credit on your tax return. Pub. 972 on a Child's Tax Credit from the IRS gives more details concerning this claim.

Let's also say that their mortgage interest is $11,215. If they deduct the entire $11,215 interest from their $100,000 income, their taxable income is $81,670, not $100,000. Note, they deduct the interest off their taxable income, not off their owed taxes. That's why the savings is not dollar-for-dollar.

However, there are certain techniques by which one can reduce the amount of tax being paid every year. One of these techniques are charity giving. Don't you ever wonder why big companies always give to charity? It is probably because of Charitable Tax Deduction. It is not only corporate owners who do these but even private individuals, movie stars and even politicians. Of course, being able to give back to society, especially those who are in need are a selfless endeavor and should be praised for the act but it does not hurt to get something back right? Like tax deduction?

I am not saying that they are not needed. They too are needed. But they are not volunteers in the true sense of the word. They are paid workers. Perhaps the institutions they represent are charitable. "Perhaps", for even that is not always the case. Many such institutions have their own agenda of promoting their cause through the services they render.

The wbez/donate is certainly the greatest option that you can choose at such a situation. It is completely free of hassles. In fact, there are plenty of other advantages that are there when you donate your car. So, have a look at them.

Get the support of neighbors. One of the first things I did when we organized a charity haunted house years ago was knock on the doors of the neighbors next to where the haunt was planned. I believe it is important to alert the neighbors about the planned haunt; sweet talk them and get them on board early on. You could even invite the neighbors to help. That way they are part of the group and less likely to have a problem with any noise. Also, if a neighbor does have an objection you can find out early on and not on opening night.

If you do not itemize you are entitled to an additional $1,000 (married individuals) or $500 (singles) property tax deduction for property taxes paid in 2009.

Of course, finding the venue is only part of venue choice. You'll also have to make sure that you're allowed to hold your casino night party there. Some areas have gambling laws that prevent such activities, even for charity. Even those areas that don't prevent it do heavily regulate it. So, talk you your local law enforcement officials to see what you can and cannot do.

One great idea is to host a Fun Casino night. Fun casinos don't involve gambling any actual money, making them ideal for fundraising events. You get to make your guests feel like big spenders and high rollers without any of the pressure of anyone potentially losing their life savings. Additionally, most territories have strict laws regarding gambling and where it can/cannot take place so fun casinos have the advantage of not being illegal.

By being charitable towards our own family members, we do not prove anything. Indeed, donated boats for sale insult the bond that exists between us. What I do for them is part of my family obligation - nothing more than that. And, there comes an end to such obligation. For instance you are not obliged to finance your children for life. At certain age they must try to make their own living.