So if you're a single person and discover your deductions equal more than $6,200, you can list them on your return in order to shave more money off your taxable income.
And they can take tax deductions equal to the cost of creating the works.
On their tax returns, the Sklars claimed charitable deductions equal to the portion of the Hebrew school tuition that covers the cost of religious education.
Others, like the San Francisco real estate investor Paul Sack and his wife, Prentice, who have a collection of 1,000 photographs, have created trusts that yield tax deductions equal to the full appraised value, a larger tax break than if they had donated the collection as partial or promised gifts.
Under Capitol Hill pressure, the Internal Revenue Service last month issued investment theft loss guidance that enables Madoff's clients to claim tax deductions equal to up to 95% of their initial investments, plus any previously taxed phantom profit (net of withdrawals and expected recoveries).
When they exercise their options, their company receives a tax deduction equal to the gain.
At the same time, their company takes a tax deduction equal to this amount, known as the spread.
The company gets a tax deduction equal to the spread on which the employee pays income taxes.
The Finance Committee has proposed giving car donors a deduction equal only to the amount realized by charity rather than allowing them to claim the Kelly Blue Book value.
Among the specific policy points is a proposal to allow small businesses to take a new tax deduction equal to 20 percent of their income.
Facebook will take a tax deduction equal to the amount that the employees take into income — in this case, almost $2 billion.
