If part of your refinancing is used for home improvements, you are allowed a deduction for a portion of these points allocable to the home improvements. Generally, any stock you own is considered a capital asset. When you sell that asset at less than what you paid, you will have incurred a capital loss. This enables you to arrive at a net capital loss. The balance must be carried over into subsequent tax years.
Tax law permits taxpayers to deduct charitable contributions as itemized deductions.
If you donate property that has appreciated in value, instead of cash, you get an even bigger tax benefit. That s because you get a deduction for the full fair market value of property you have held for over a year, and you avoid paying capital gains tax on the appreciated value. To be deductible, your contribution must go to a nonprofit organization with tax-exempt status. Deductible contributions for 2000 must have been made by December 31, 2000. To qualify for the home office deduction, you must use your home office exclusively and regularly either as a place to meet with clients in the normal course of your business or it must be your principal place of business.