Posts tagged deductible

I have a home warranty which essentially repair insurance – is that cost tax deductible?

3
1 year ago
by admin in

Question : I have a home warranty which essentially repair insurance – is that cost tax deductible? I spent $ 400 on the yearly cost for my home warranty this year. Also, there was a $ 60 fee each time a technicians comes out to do a repair. Are these costs tax deductible?

(For those who don’t understand what a home warranty does, basically, it’s repair insurance for items in my house. It covers all my major appliances, plumbing, electrical, water heaters, sump pump, etc. If any of those breaks, I can call a technician, and they will come out and fix it – only $ 60 each time they come More >

Texas orders HO deductible options for catpool.(homeowners insurance, Texas Catastrophe Property Insurance Assocation): An article from: National Underwriter … & Casualty-Risk & Benefits Management

0
1 year ago
by admin in

This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on March 25, 1996. The length of the article is 936 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.From the supplier: Elton Bomer, Insurance Commissioner for the state of Texas, has ordered the Texas Catastrophe Property Insurance Association to provide More >

Is Home Inspection fee, attorney fee tax deductible for a rental property?

0
1 year ago
by admin in

Question : Is Home Inspection fee, attorney fee tax deductible for a rental property? For a rental property, is the inspection fee, attorney fee, title insurance fee paid to close the sale tax deductible?

Thanks. property inspection

Best answer:

Answer by pennybarrI believe it is, but why don’t you ask your attorney. Information is one of the things he gets paid for.

Is property/ fire insurance tax deductible in California?

0
1 year ago
by admin in

Question : Is property/ fire insurance tax deductible in California?

california property insurance

Best answer:

Answer by bostonianinmoOnly as a business expense. If it’s on your personal residence, it’s not deductible.

Is home equity mortgage interest deductible for home office expenses?

1
1 year ago
by admin in

Question : Is home equity mortgage interest deductible for home office expenses? The money was used to pay off credit cards. I am still paying on the home equity loan. If I do a home office deduction, which I qualify for in every way, can I use the home equity loan interest as a deductible expense? equity mortgage

Best answer:

Answer by robert wNOTE ‘Home office “deduction ” ‘ is one of the best ways to have a visit with the IRS (aduit). more often than not the ‘HOD’ is not worth what u save or loss.

Tax deductible? Cash-out refi vs. HELOC vs. Equity loans?

0
1 year ago
by admin in

Question : Tax deductible? Cash-out refi vs. HELOC vs. Equity loans? My wife and I are planning a major remodel which will start in around 2 1/2 months…we are having trouble finding info on the differences between cash-out refi vs. HELOC vs. Home equity loans vs. “typical refi” as far as what the differences are as far as how tax deductible they all are (interest paid, etc)…any info or links with info to help us out? heloc loans

Best answer:

Answer by v bDo NOT take any cash out. Read the forms carefully, but you have to “source” your interest on your debt. if you cash out on a loan, you More >

Are expenses occurred by a company in moving, deductible on a Corporate return?

0
1 year ago
by admin in

Question : Are expenses occurred by a company in moving, deductible on a Corporate return? Corporation is moving from rented space and buying a building. Would the moving expenses be deductible or capitalized? corporate moving

Best answer:

Answer by James HHow could it be anything but an expense?

To capitalize this would mean that it is some how an asset. And that presumably it would be consumed over time. What would the deprecation schedule be on moving expenses?

To me this is clearly a general expense.

How tax deductible are charitable donations and home equity loans?

2
1 year ago
by admin in

Question : How tax deductible are charitable donations and home equity loans? When they say donations and home equity loans are tax deductible, what does this mean? Does a $ 1000 donation mean $ 1000 less federal income tax? Does $ 1000 paid in interest on a home equity loan mean $ 1000 less federal income tax? equity loans

Best answer:

Answer by LifesAMysteryThe deductible is to the amount the tax percentage is applied to. So if you make $ 50,000, you can deduct $ 1,000 to make your base $ 49,000. And then 15% is applied to the new base.

This is a very basic explanation – a lot more goes More >

Are home inspection fees tax deductible…?

1
1 year ago
by admin in

Question : Are home inspection fees tax deductible…? …if you paid them with the intention of buying a house that was then sold to someone else? home inspection fees

Best answer:

Answer by Baby Gno

Do you know any home warranty companies with 0 deductible fee?

2
1 year ago
by admin in

Question : Do you know any home warranty companies with 0 deductible fee? we are looking a home warranty company that does not charge for service trade fee or deductible fee home warranty companies

Best answer:

Answer by leethere isn’t any

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