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How much is the maximum amount to deduct repairs for taxes in AZ?
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Can I deduct the expenses from my home repairs on my taxes?
No. Home improvements are added to the tax basis of your property, home repairs are maintain the good condition of your home. They cannot be deducted from your taxes or added to the tax basis of your property. If you also run a business out of your home you can deduct the expenses. Depending on if the repairs were also energy efficient you are able to deduct some of those expenses.
Can you get a return if you owe back taxes?
If you owe back taxes, the IRS will automatically deduct that amount from your refund. Depending on that amount, you can only receive what is left from that deduction.
Can you deduct the amount you pay your tax account?
I am not sure what you mean by this or what kind of tax account you may be referring to.On your federal income tax return, you may deduct payments of various types of state and local taxes that are imposed on you within limitations. These include real estate, state and local income taxes, and sales taxes (but not both sales taxes and income taxes). You may not deduct federal incomes taxes. You may not deduct interest or penalties.A few states let you deduct federal income taxes on your state return.
Can I deduct the price of my property rental from my taxes?
If you are the one renting the property you can not deduct this from your taxes. If you are the landlord you can receive a deduction on your taxes for owning the property.
Is section 179 still valid for taxes Can you still deduct equipment?
Yes. Very much so. It isn't that you can deduct equipment..it is (and was) that you can currently expense (rather than capitalize, and deduct through depreciation over years), up to an certain amount. That amount is being substantially increased.
Can I deduct the expenses from my home repairs on my taxes?
No. Home improvements are added to the tax basis of your property, home repairs are maintain the good condition of your home. They cannot be deducted from your taxes or added to the tax basis of your property. If you also run a business out of your home you can deduct the expenses. Depending on if the repairs were also energy efficient you are able to deduct some of those expenses.
What is the maximum amount one can use as a charital deduction?
The maximum amount that you may deduct for charitable contributions is 50% of your yearly income. If you've given more than 50% of your income the excess can be deducted on the following years taxes.
What amount can I deduct from my taxes for a charitable car donation?
You can deduct about 500 dollars through car donation
How are repairs and insurance settlements handed when filing taxes for a rental property that was damaged in a tornado?
If you deduct the cost of he repairs/loss...then the insurance settlment is taxable income (essentially replacing the amount of the deduction/loss you took and really didn't have because you were reimbursed for it). Or if you don't expense the repairs, the recovery isn't taxable.
Can you get a return if you owe back taxes?
If you owe back taxes, the IRS will automatically deduct that amount from your refund. Depending on that amount, you can only receive what is left from that deduction.
Can you deduct the amount you pay your tax account?
I am not sure what you mean by this or what kind of tax account you may be referring to.On your federal income tax return, you may deduct payments of various types of state and local taxes that are imposed on you within limitations. These include real estate, state and local income taxes, and sales taxes (but not both sales taxes and income taxes). You may not deduct federal incomes taxes. You may not deduct interest or penalties.A few states let you deduct federal income taxes on your state return.
Can you claim childcare on taxes as single parent?
Yes you can claim childcare. As far as I know there is no set amount you can deduct.
Can I deduct the price of my property rental from my taxes?
If you are the one renting the property you can not deduct this from your taxes. If you are the landlord you can receive a deduction on your taxes for owning the property.
Is section 179 still valid for taxes Can you still deduct equipment?
Yes. Very much so. It isn't that you can deduct equipment..it is (and was) that you can currently expense (rather than capitalize, and deduct through depreciation over years), up to an certain amount. That amount is being substantially increased.
What is the maximum loss claimable on federal income taxes due to sales of stock at a loss?
You can deduct $3,000 per year. If you have a higher loss amount, you can carryover the remainder for as many years as necessary until it is all used. http://taxresolutionaries.blogspot.com
If you claim 4 people on your taxes will they deduct federal taxes?
Yes will have some amount of taxes that your employer is required to withhold from your gross earnings before you will receive your net take home paycheck.
Can you deduct payroll taxes?
A individual taxpayer cannot deduct payroll taxes on the individual taxpayers income tax return.
