If you give time at a charitable organization can you deduct your transportation
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If you give time at a charitable organization can you deduct your transportation?
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- If an individual renders services for a creditor who in consideration thereof cancels his existing debt, the cancellation of indebtedness may amount to a Gift Donation intervivos Payment of income Capital contributionWhat is the difference between making a gift aid donation and a donation straight fromyour salary through Payroll giving? Briefly describe main features of both.True or False To qualify as a charitable deduction, the donation must be made by cash or by check
- You can deduct as an itemized deduction charitable contribution all the money you contributed to your coworkers "Go fund me" account set up for her heart surgeryJulio has $10 withheld from every paycheck to be used as a donation to a local charity. When his employer pays these withheld amounts to the charity, what type of account is debited? Answer: A. Asset B. Liability C. Revenue D. ExpenseWhich of the following items would be included in the gross income of the recipient? Insurance payments for medical care of a dependent child Insurance payments for loss of the taxpayer's sight Season tickets worth $2,000 given to a son by his father Payments to a student for working at the student union food court Lodging provided to a worker on a remote oil rig
- Which of the following expenses is deductible from gross income?* a. Contribution to a newspaper fund for needy families when such newspaper organizes a drive solely for charitable purposes. b. Premiums paid by the self-employer for the life insurance of his employees c. Contribution to the construction of a chapel of a university that declares dividends to its stockholders d. Donation of prizes and awards to athletes in local and international competitions and sanctioned by their respective sport associations.Which of the following criteria has the LEAST impact on determining how much federal aide you can receive for college? A. Student income B. Parents Income C. Number of siblings attending college D. GPAGovernment have been mandating deductions from both employers and employees to fund various social programs. Discuss the features of these deductions and what are their advantages and disadvantages? This is to be posted on the Discussion forum, please write it in you own words.
- How can fundraisers for a non-profit homeless shelter be a non-value added activity?Assume this individual's friend decides to pursue postsecondary education. What are two types of financial aid that the friend could apply for that do not have to be repaid?How would a recipient for a not-for-profit entity record the receipt of a gift that will be transferred without restriction to another charitable entity? What if the donor retains the right to revoke or redirect the gift?