Ask a CPA

The costs of safety equipment such as special gloves and shoes or boots as a plumber are deductible as an itemized deduction subject to the 2% AGI limitation on IRS Schedule A.

Payments to an organization that devotes a substantial part of its activities to lobbying which tries to influence legislation is not deductible.

For Americans working abroad, the first $97,600 of their current year foreign earnings will be exempt from U.S. income tax,

If you pay a household worker such as a housekeeper, babysitter, nanny, maid, gardener or other household helper less than $1,800 in the current year, you will not have to pay Social Security or Medicare taxes on behalf of the worker. The $1,800 threshold has been raised to $1,800 in the year 2013. Payments made to students under the age of 18 for domestic services are exempt from employment taxes. You do you have to pay employment taxes on behalf of a worker who is considered a self-employed "independent contractor". Also exempt are payments to workers who are employees of the agency you contract with.

Self-employed individuals and other small businesses will be entitled to immediately write off up to $500,000 of business equipment purchases in 2016 without having to depreciate the costs over a period of years.
The amount of the 179 deduction is reduced by the cost amount in excess of $500,000 dollars.

Self employed individuals and other small businesses will be entitled to immediately write off up to $500,000 of business equipment purchases in 2010 and 2011 without having to depreciate the costs over a period of years. The amount of the 179 deduction is reduced by the cost amount in excess of 2 million dollars.

U.S. savings bonds are nonnegotiable and are not transferrable. You may not donate U.S. savings bonds. You can cash the bonds in and then donate the proceeds or turn the bonds in and have them reissued in the donee's name.

The amount of expenses in excess of any state agency reimbursements for caring for a foster child in your home is deductible as a chariable itemized deduction on IRS Schedule A.

You may not deduct the rental value of property you allow a charity to use without charge.

Generally, No. Contributions to a foreign charitible organizations or to foreign governments are not tax deductible unless the organization obtained 501 (c) 3 designation from the IRS.