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The California Open Source Textbook Project (COSTP) was founded in 2000 by Sanford Forte, a former college textbook publishing executive. COSTP was a not-for-profit, collaborative, public/private undertaking originally created to address the high cost, content range, and consistent shortages of K-12 textbooks in California .
For charitable contributions of $250 or more, you’ll need a written acknowledgment from a receiving organization confirming the donation — either the cash amount or the description of non-cash ...
In the year 2004, he gives $60,000 in cash to the American Cancer Society. The donor may deduct only $50,000 in 2004. Why? Because anything over that amount is in excess of 50% of his adjusted gross income. The remaining $10,000 (60,000 total donation minus 50,000 deducted in 2004) carries forward to 2005, at which point he may deduct it.
The California excise tax on gasoline as of mid-2011 is 35.7 cents per gallon for motor fuel plus a 2.25% sales and use tax, 13 cents per gallon for diesel plus a 9.12% sales and use tax. [37] The California Department of Tax and Fee Administration provides an online list of sales taxes in the local communities of the state. [9]
American Opportunity Tax Credit. The American Opportunity Tax Credit allows you to lower your income tax bill by up to $2,500 per student, per year on undergraduate tuition, fees and books. Room ...
To claim your tax credit or deduction on your tax return, you’ll first need to review your numbers on the IRS Form 1098-T sent to you by your education institution. It will include the qualified ...
Paying college expenses directly from a 529 account may reduce eligibility for the American Opportunity Tax Credit, due to IRS coordination restrictions. To claim the full credit (in addition to meeting other criteria, such as income limits), $4,000 of college tuition and textbook expenses per year should be paid from non-529 plan funds. [26]
The American Opportunity Tax Credit, which was formerly known as the Hope Credit, provides a 100% tax credit for the first $2,000 you spend on college, with an additional 25% credit on the next ...