My husband is completing his masters degree at the university where he also works. He gets tuition benefits, but any tuition benefit he receives over $5250 per year is taxable. The university treats those taxes as part of the tuition bill (they are about 37%) and we pay them out of pocket. According to our university, we should be able to get reimbursed for the taxes that we paid, given that the tuition counts as a job related expense. How do we do this? Bonus: how do we do this... on TurboTax? [more inside]
If I paid back an employer for training costs and business expenses related to the training - are these tax deductible? [more inside]
Does Romney want to remove deductions for 401k to help pay for his 20% "across the board" tax cut? [more inside]
How can a family who's child has Leukemia collect money, and give tax deductions to donors? [more inside]
My 2010 was the first complicated tax year I've had- bought a house, and wondering whether the HR Block online filing is still sufficient, or if I'll need and want a professional- and if so, where to find a good one in the Capitol Hill/Seattle area this weekend. [more inside]
taxfilter: Can I deduct the annual fees for my managed broker account (non-IRA)? I think this is OK, but Google is just making my eyes cross...
Which version of Turbo Tax should I use? [more inside]
Can I get the mortgage tax deduction if a parent transfers their house to me and I begin paying the mortgage without going through an actual sale and real estate agent/commission process? [more inside]
If you have filed for exemption with the IRS for a nonprofit you are starting and your status is pending while they review, I understand that you can still solicit donations and generally when your exemption is granted your exempt status applies retroactively to your date of incorporation. But how are the donor's charitable contributions treated? Can they deduct the tax year they donate or do they have to wait until the tax year in which exemption is granted (if the pending period lasts until a new tax year)? Or is it also retroactive and they would have to amend their previous tax return once the nonprofit gains exempt status?
Can Canadians give tax-deductible donations to American non-profit organizations? [more inside]
If I use my sister's college-student discount to by computer products at a reduced price, but claim them as expenses for my home business, will anyone care? [more inside]
TaxFilter: A co-worker and I both recently relocated and received a relocation allowance. Anything above the cost of the move (excess reimbursement) we were allowed to keep. I know that the excess is taxable income. My co-worker feels that the relocation allowance is like our Meals and Incidental Expenses per diem, we didn't spend all of the allowance, so we get to keep the balance treating it as non-taxable income.
How can I simply explain the difference between a per diem and an excess reimbusrment to him? I've showed him relevant IRS documentation such as Publications 17 and 521 to no avail.