Ask a CPA

Travel costs to speak with your attorney, CPA, investment advisor about your investments or the production of income can be deducted as a miscellaneous itemized deduction subject to the 2% AGI limitation on IRS Schedule A.

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.

No. Blood donation to the red cross or hospital or other blood banks is not tax deductible.

No. Generally, checks written to fraternities and sororities are considered clubs for social purpose and not deductible as a charity.

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.