charitable deductions

Recession? What recession? The President made more than double in 2009 than the previous year, due in large part to residuals from his books. President Barak Obama and his wife Michelle jointly reported a 2009 adjusted gross income of $5,505,409, nearly double the $2.7 million income reported in...

When it comes to deductions, many taxpayers miss out -- not because they don't qualify for the deductions, but because they fail to keep good records. It's often difficult to remember on April 15 all of the miles you've driven, charities you've supported and taxes you've paid. Here are five tips...

Each year, taxpayers have the option of claiming the standard deduction or the itemized deduction. For the tax year 2009, the standard deduction for single taxpayers or for those married filing separately is $5,700; for married taxpayers or qualifying widow(er)s, the standard deduction is $11,400;...

Late Thursday night, the U.S. Senate approved President Obama's $3.5 trillion fiscal 2010 budget, and in the process gave the new president much of what he wanted in his first budgetary proposal. The Senate easily approved the measure, 55-43, thehill.com reported Friday, after turning back a plan...