Does a church bring back tax on donations received?
If I make donations to my church every year and use it as a excise deduction, will my church draw from taxed on this amount?Answers: No.
Absolutely not.
Any religious establishment is exempt from taxes.
Goes beneath separation of church and state in the constitution
The IRS is getting tighter and tighter. The churches still do not enjoy to pay income taxes, but the workers are forced to pay social shelter tax on everything they generate over 108.28 in profits. Churches have to argue to maintain their tax-free status. If they speak out vs. sodomy, they are accuse of getting involved in politics and lose their duty exempt status. You cannot just "put money contained by the plate" any more. The pastors and evangelists hold to report everything that they make. So if an evangelist speaks, a bookkeeper have to count the money that was donated. So no fortune of receiving deserved tax-free gifts.
My returns late due to Katrina. I'm up to 2005. I will catch them up. Will I still get a rebate check?
Answers: No possible way to say. The "rebate" has NOT been passed by Congress yet. They are fighting over the language and other parts of the bill such as business tax cuts, increases in unemployment compensation, etc. Don't expect anything until sometime next week or even later.
Since it does not exist yet, ANY answer that you get here is PURE guesswork, nothing else!
Can you subtract your Rent Cost from your state taxes?
I pay 5,520 a year for rent. If I cand educt it how does it workAnswers: No. The mortgage interest is tax-deductible because that channel it promotes house ownership in the country.
I don't feel so. Why would you be able to discount rent?