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they are not a deductable amount. You can claim expenses as an executor against the estate funds. However, if you do claim executor expenses against the amount of the estate they are taxed as income for the person claiming them.
No.Well, you can claim you love him dearly...but you can't claim him on your taxes as a dependent.
No. Room, Board, and any personal expenses are not tax deductible on a tax return. The only expenses that are generally deductible are those involved directly with a business in the production of taxable income.
Yes, although you can also set up a proprietorship and run it as a business which means you can deduct expenses (equipment, gasoline etc) from that income. If its just incidental income just add it to you income and don't worry about expenses. If its more substantial I would run it as a business, separate checking account, records, expenses etc
Yes. You claim income that you receive in addition to expenses like repairs, insurance, property taxes, depreciation, etc. This is the case with me assuming that you are the owner of property that you rent to others and not rental property where you are the tenant.
they are not a deductable amount. You can claim expenses as an executor against the estate funds. However, if you do claim executor expenses against the amount of the estate they are taxed as income for the person claiming them.
YES
yes
No.Well, you can claim you love him dearly...but you can't claim him on your taxes as a dependent.
Yes, you can claim advertising expenses on your schedule C
There are expenses of home ownership that can be deducted on an income tax return. If you have no income to be taxed, you don't need any deductions.
Yes. Since she has a job, she is filing her taxes on the income she received last year. If at any time, you were supported by her (in full or part), she can claim you.
Answer: You can claim all the medical expenses you have incurred as long as they exceed the 7.5% of you AGI (Adjusted Gross Income). Make sure you keep proof of this expenses for at least the next 5 years.
No. Room, Board, and any personal expenses are not tax deductible on a tax return. The only expenses that are generally deductible are those involved directly with a business in the production of taxable income.
Yes, although you can also set up a proprietorship and run it as a business which means you can deduct expenses (equipment, gasoline etc) from that income. If its just incidental income just add it to you income and don't worry about expenses. If its more substantial I would run it as a business, separate checking account, records, expenses etc
In your Income and Expenditure Account, show the Health Insurance premium paid by you as expenses and claim income tax rebate as permissible in Income Tax Act of your country.
NO. Rent or living expenses for a student would NOT be deductible on the federal 1040 income tax return.