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Month: November 2014

Donate money to the family count as a tax deduction?

In difficult times for the economy, taxpayers who donate money to needy families are to be commended for their generosity. But although your donations can make you feel good about helping the less fortunate, you must adhere to the guidelines of donation of the service tax if you want to qualify for a deduction from tax on your statement.

Do I have to pay taxes on rental income?

The real estate are a common investment which can take the form of personal home, a second home or holiday home and rental property. Rental properties allow investors to have real estate as they generate revenue by renting space to tenants. According to the internal revenue service, the rental revenue in general should be included in your gross income when you file your tax return.