What structure of educational trusts are tax deductible?
594822
A charitable remainder trust only gives you an income tax deduction for the estimated part of the trust fund that will go to charity. If you want you can contribute to a 529 plan--these currently are tax-deferred and allow withdrawals tax-free to pay for qualified education expenses. (Whether this treatment will continue will depend on congress as the legislation authorizing the tax-free withdrawals expires in 2011.)
668863
An income trust is an investment trust that holds income-producing assets. The term also designates a legal entity, capital structure and ownership vehicle for certain assets or businesses. Its shares or "trust units" are traded on securities exchanges just like stocks. The income is passed on to the investors, called "unitholders", through monthly or quarterly distributions. Distributions are typically higher than stock dividends, offering yields of up to 10% a year (up to 20% for riskier trusts).\n\nThe unitholders are the beneficiaries of the trust, and their units represent their right to participate in the income and capital of the trust. Income trusts generally invest funds in assets that provide a return to the trust and its beneficiaries based on the cash flows of an underlying business. This return is often achieved through the acquisition by the trust of equity and debt instruments, royalty interests or real properties. The trust can receive interest, royalty or lease payments from an operating entity carrying on a business, as well as dividends and a return of capital. (Source: Canadian Ministry of Finance.)\n\nThe main attraction of income trusts (in addition to tax advantages) is their ability to generate constant cash flows for investors, which is especially attractive when interest rates on bonds are low. They are especially useful for financial requirements of institutional investors such as pension funds. (Investment Dictionary)\n\nThe names income trust and income fund are sometimes used interchangeably, even though most trusts have a narrower scope than funds. Currently, income trusts are most commonly seen in Canada.
144789
Yes you can, but if your employer offers a 401k, a contribution to a traditional IRA may not be tax deductible.  Go to www.irs.gov and download publication 590 for the details.
911646
Any act for education is tax exempt if the education institution is registered with the Tax Office.  If your office is not registered, the income derived from the event is taxable.
447661
This question depends on a lot of things.  If you are just a beneficiary of a trust and not the owner, you should get a K-1...which, I beleive only includes your distributions from the trust so you can report it as income.  If you are the owner of the trust, it will depend on what type of trust you have.  Some trusts, such as Revocable Personal Trusts, have their own Tax-ID, so the income is not reported under your Social Security number.  You will still have to report all distributions as income.  And taxes are still paid on the assets in the trust, they are just deducted from the trust, not your pocket (still your money though).  There are other trusts, such as Agencies, in which you have to report the income on your personal tax return, you should receive a 1099 or multiple 1099's for this income (1099-Div, 1099-Int, 1099B(for capital gains)).  No matter what you have, tax will have to be paid on something.  If you have a more specific question on the matter (including whether you are beneficiary or owner and what type), I will be happy to try and answer your questions.
388465
with effect from 18.4.2006, Service Tax is payable @ 12% on the value of taxable services received for the services provided or to be provided. In addition, Education cess is payable @2% on the Service Tax amount. Effectively, the service tax liability is 12.24% on the value of taxable services.
901075
Contributions to a specific person are not tax deductible, so if you see a notation like you describe someplace, it's not true and if you donate then end up audited, it'll be disallowed.
231766
Yes, deductible for tax purposes from the rental income
934411
Interest: \nEvery year you can deduct up to Rs.1,50,000/- from your income.  In your case this deduction will become Rs.1710*12= Rs. 20,520/- \n\nRepayment of Principal: Rs.2708*12=Rs.33,684/- (This is 80C deduction)\n\nMax. Rs.1,00,000 per year including other 80C deductions like purchase of NSC, Payment of LIC premiums, children school fee.
366307
First of all, put money in regularly.  Monthly or even weekly if you can.  College is going to be expensive, so the more the better.  Secondly, go with an investment that gives you some tax benefit as well.  Currently, the 529 plan (also called a College Investment Trust) has the money growing tax deferred, and as long as it is withdrawn for qualified higher education expenses it is tax free (this may change-it has a sunset provision for 2010).  Another option is a Coverdell Plan, what used to be called an Educational IRA.  They also allow you to earn with taxes deferred, but you can only put 2k away in them-the limits on the 529 plan are much higher.  The nice thing is that neither of these plans have a really significant impact on a child's ability to get financial aid-unlike having it in just a regular savings account!
188832
The interest you pay for a student loan is deductible
582214
Trust taxation is a complicated subject.  Some trusts are "simple trusts" meaning the trust is not taxed but the beneficiaries are taxed on its income -- the income is required to be distributed currently.  Others are "complex trusts" in which beneficiaries pay tax on income only as it is distributed; the trust pays tax on the rest.  Then there are "grantor trusts" in which the creator of the trust (or someone else with trust powers) is taxed on the income.\n\nGenerally, income is distributed first, which means the beneficiaries are taxed on the first dollar they receive.\n\nThis is a general discussion, you should discuss your situation with a qualified advisor.
888147
Tuition.\n\nCal States are state schools which are subsidized by taxes.
34222
You have to use form 1040, schedule A. Chances are, if that's the only deduction you would take, that the standard deduction is better for you. The student loan deduction isn't that great. Between it and the Hope credit and Lifelong Learning Credit, you'd be lucky to get $1k.
687366
The part of the tax code that prevents you from deducting long term care insurance is the same part of the code that doesn't say you can deduct it.\n\nThe only things that are deductible are the things the tax code says are deductible. Since the code doesn't address a deduction for long term care insurance then it is not deductible.
163079
You probably qualify for the Lifetime Learning tax credit or you may qualify for an educational expenses deduction (you can take one of those but not both). If you're getting a refund, taking the deduction is better than taking the credit because the credit is non-refundable, but the deduction will lower your taxable income. If you owe a lot, the credit usually works out to be better. Qualified educational expenses are pretty much just tuition and fees (not books). See the 1040 instructions (the link below goes to a PDF version) to find out if you qualify for the deduction (page 34) or the credit (page 40). Form 8863 is the one you file for the credit, and it has more instructions on whether you qualify or not. Good luck!
989632
They should both be deductible. Both are 501 (c) 3 organizations.