My son finished college in August 2011, he was a full-time student through May 2011, he turned 24 years old on December 21, 2011, his income for 2011 was $2944.00. Can I claim him as a dependent on my 2011 income tax?

My company only reimbursed me $0.50 per mile driven for business purposes in 2011. The IRS rate is $0.51 from Jan 1 - Jun 31 and $0.555 from Jul 1 - Dec 31. Can I claim the difference in the rates and miles driven as an unreimbursed business expense on my taxes? Is it legal to not pay the IRS stated rates?

It is always important to have representation when dealing with IRS issues. I made the mistake of trying to represent myself and it didn't fair too well.
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Tripp

I have enrolled in a yoga teacher training program which begins in March 2012. I am wondering if program costs, books, yoga clothes, yoga props are tax-deductible. If so, do I have to file a particular way? And are the benefits greater if I file as an individual or if I establish myself as an independent contractor? Also, how can I get tax advice relating to making a decision about whether to establish myself as a business or independent contractor? Thank you so very much!

I want to sell my son a home that I own. The financial lender suggested that I make a gift of the equity (about $74K) in the house to him and have it considered a downpayment. Question: what are the tax implications for me if I do this?

Que : Can Cancel people can get any Tax credit ?

Que : Can Cancer [Leukemiya] people can get any Tax credit ?

I got hired for a web job, never filled any tax forms this was in 2011 and just today I receive a request to do so. I was going to report the income as extra income for the year until today. What will happen if I ignore the company that I did the work for and just report my income in own taxes. I have a regular job so I received all my tax forms from my employer yesterday. What would be the best approach to this?

I paid $3,000 in medical expenses and recently learned that it is tax deductible. Is there a list of such expenses. Also, how much should such expenses add up after which it would be more advantageous to use itemized deductions rather than taking the standard deduction.

thanks,
Jay

when is the dead line for donating and claiming donation on 2011 tax?

I am retired and collect social security. I take out the required amount each year from my IRA account. I claim this amount on my 1040 return along with my allowable deductions. I have not had any tax due to the government, or had any moneys due me. Do I still have to pay the tax on the money taken out of the IRA?