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Although federal tax law does not allow for political deductions, some state laws may allow for a tax credit or deduction. The donation has to be related to a state-level campaign or candidate.
The IRS is very clear that money contributed to a politician or political party can't be deducted from your taxes. The following list offers some examples of what the IRS says is
The federal government will match up to $250 of an individual's total contributions to an eligible candidate. Only candidates seeking nomination by a political party to the office of president are eligible to receive primary matching funds. In addition, a candidate must establish eligibility by submitting to the
The IRS is very clear that money contributed to a politician or political party can't be deducted from your taxes. When election season rolls around, it can seem like news and advertisements about ...
Joy is not entitled to deduct the $10,000 value of "free services" that she performed. Nor is she entitled to deduct the $500 of child care expenses incurred in the week she was volunteering. However, Joy may deduct the $150 car expenses, as well as the $400 hotel expenses incurred in her time volunteering at the camp, for a total deduction of ...
As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.
In 2005, amid a federal investigation into bribery allegations against former California Rep. Randy “Duke” Cunningham, the FEC permitted the use of his campaign funds to pay legal expenses ...
Internal Revenue Code § 212 (26 U.S.C. § 212) provides a deduction, for U.S. federal income tax purposes, for expenses incurred in investment activities. Taxpayers are allowed to deduct all the ordinary and necessary expenses paid or incurred during the taxable year-- (1) for the production or collection of income;