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It is not Deductable, either is the commission you pay, or any fees that goes to the lawyer, the only deduction is any real estate tax that you have paid in advanced. Other than that, you owe it all.
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Are swimming fee tax deductible?
No they are not. They are recreational expenditures.
Non Deductible expenses for a firm in Malaysia?
tax preparatio fee
Can you file car tag deduction on income tax?
It depends. If your car tags are an ad valorem tax, that is, the cost is based on the value of your car, then that cost is a deductible personal property tax. If all passenger cars pay the same flat fee for tags, then no, the cost is a fee, not a tax, and is not deductible.
Are the road and bridge fees charged on the Colorado vehicle registrations tax deductible?
Yes, but they are already included in your license fee. You will notice on your Colorado Registration/Ownership tax receipt right below the road fee and bridge fee that there is text stating that these fees are already included in your license fee.Since Colorado annual vehicle registration fee is based upon the value, that amount along with the ownership tax to the left of the license fee is tax deductible on the federal portion of your income tax assuming you registered the vehicle in the state of Colorado for the year that you are wanting to take the deductible to reduce cumulative tax liability.
Are pet adoption fees tax deductible?
No, adoption fees or donations made to adopt any pet from a shelter is not tax deductible. But if you make a donation beyond the standard fee that is tax deductible if the shelter is a tax exempt entity. This means they need to be a 501(c)(3) organization and filed with the IRS.
Is the New Jersey mansion tax deductible?
AnswerA despicable tax if ever there was one! The NJ manison tax is a 1% additional transfer fee on residential property over $1M sales price. it is 1% on each the seller and the buyer - so really 2% - in addition to the normal transfer fee, so just keep on adding it up!As a transfer fee, it is not currently deductible as a real estate tax. Like other closing costs/fees on a residence, it is not a deductible item. Presumably the seller can apply it to offset his gain (if the other exemptions aren't enough) and the buyer can capitialize it to his basis, possibly avoiding a future gain.EDIT:This answer is wrong. The mansion tax is ONLY imposed on the buyer of NJ residential property over $1M -- NOT the seller. The buyer cannot currently deduct the tax; it should be capitalized as part of the basis of the purchased property (along with the other costs of acquisition, e.g. legal fees, recording fees, and such.)
How much sales tax do you pay when buying a home in PA?
Realty Transfer Tax Levied on the sale or transfer of Real Estate located in PhiladelphiaTax Payment Options and InformationTax Resources Resources from the Department of Revenue.Use & Occupancy Tax (U&O)The Business Use and Occupancy Tax is a tax on the business, trade or other commercial use and occupancy of real estate located in Philadelphia.The Realty Transfer Tax is levied on the sale or transfer of Real Estate located in Philadelphia. The tax also applies to the sale or transfer of an interest in a corporation or partnership that owns real estate. Certain long term leases are also subject to this tax.
Is a Private Transfer Tax the same as a Private Transfer Fee?
Realtors incorrectly refer to Private Transfer Fees as Private Transfer Taxes. In essence, they are the same, but the correct terminology is a Private Transfer Fee.
What taxes and fees have to be paid by the buyer of a new car?
Sales tax, license fee, and transfer fee.
What can you tell me about a Roth IRA tax deductible?
The benefit to a ROTH IRA tax deductible is that it is TAX DEDUCTIBLE. But that does not mean that there are no implications, so you still have to be thorough.
Is tax preparation tax deductible?
Yes. Tax Preparation does lies under business investment thus, is tax deductible.
Is Gas sales tax deductible?
Gas tax is an excise tax not a sales tax. It is therefore not deductible for federal income tax purposes.
