Monday, June 07, 2010

Questions for the Tax Lady: June 7th, 2010

Check out the following new Questions for the Tax Lady answers and feel free to ask me questions through one of the links below. You can send me an email, direct message or @ reply, and I will do my best to get an answer for you!

Question #1: I do not usually itemize my tax return, but I have an old vehicle I was planning on donating to charity. Can I still claim the donation as a charitable contribution on my next return?

Unfortunately, no. You can only take advantage of the charitable contribution donation if you itemize your return, meaning you do not claim the standard deduction. For more information on charitable contributions, check out this article on the RDTC Tax Help Blog.

Question #2: Roni, I am a self-employed taxpayer. Is my next estimated quarterly payment due on July 15th or June 15th?

The next quarterly payment due date is actually June 15th, even though it has only been two months since your last payment was due (April 15th). Your next payment will be due on September 15th, and then four months will go by before the final payment is due.

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