The allowed deduction is for the business-use percentage of the lease price plus regular expenses (gas and so on) minus a small adjustment (the lease inclusion amount) that is smaller this year than in the past.

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Your Form 1099-R, which you receive from your IRA custodian, will not reflect anything other than a distribution, so you will need to make the adjustment on your tax return, deducting the amount that was distributed to the charity from the taxable IRA distribution amount (line 15b on your Form 1040).

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This has become a topic of fierce debate on the state and local levels as well, where about 86 percent of full-time government workers or about 55 million employees are covered by old-fashioned pension plans that guarantee retirees a certain amount of income plus an annual cost-of-living-adjustment tied to the CPI.

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The IRS has a withholding calculator that can help you determine the correct amount, (click here.) If you make an adjustment, be sure to capture the increase in your paycheck and put those dollars to the best use, whether it is setting up an automatic transfer from a checking to a savings account or increasing your retirement plan at work.

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To enable the Railroad Retirement Board to adjust the amount of benefits payable under the Railroad Retirement Act at the time the cost of living adjustment is applied.

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So if we just made a little bit of an adjustment in terms of the cap on Social Security, that would do a significant amount to stabilize the system.

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Each year when the Social Security Administration announces the Cost Of Living Adjustment to benefits for the coming year, with similar ballyhoo they announce the maximum benefit amount available for the coming year.

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The President did concede that there are times when "you could temporarily put a ceiling on a cost of living adjustment, " which he correctly pointed out would not be a cutback but simply a reduction in the amount of increase.

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