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.
Although child care expenses aren't tax-deductible, you can recoup some of some of the costs if you qualify for the Child and Dependent Care Credit. Child and Dependent Care Credit The Child and Dependent Care Credit can give you up to $1,050 back on your taxes for one qualifying child and up to $2,100 for two or more children. As with all tax credits, this amount is subtracted directly from your tax bill.