As defined in classic philosophy, an axiom is a statement that is so evident or well-established, that it is accepted without controversy or question. As used in modern logic, an axiom is simply a premise or starting point for reasoning.
Financial Planner. Iâm often asked if someone can take an income tax deduction for money they gift to their children. Gifts to individuals are not tax deductible. Tax deductions can only be taken for gifts to organizations on the IRS list of approved charities. However, there is a way to get a partial deduction for money that will eventually go to your children. A charitable lead annuity trust (CLAT) gifts money to a charity first, and then passes assets to your beneficiaries.
fr. Child Support Payments are never taxable for the recipient nor deductible for the payer, as long as the originating court order or agreement is later than May 1st 1997.Court orders or agreements prior to May 1st 1997 are subject to the old rules (taxable and deductible).r. Child Support Payments are never taxable for the recipient nor deductible for the payer, as long as the originating court order or agreement is later than May 1st 1997.