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Future deductible amount for tax purposes represent the allowable tax deductions in future years in respect of an asset or liability.
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Is homeowner's deductible paid before work commences?
The company doing the work may require you to pay the deductible amount before they start doing the job.
Can I deduct monies paid to settle a lawsuit?
Not deductible on your income tax return unless the amount paid was to produce taxable income that was reported on your income tax return. Then a limited amount could be deductible on your income tax return.
Recognition of tax benefits in the loss year due to a loss carryforward requires?
The Establishment of a future Asset account is recognised due to the fact that when a tax loss carryforward is more likely than not to result in future economic benefits, then it should be accounted for in the same way as a deductible temporary difference: a future income tax asset is recognised in an amount equal to the expected benfit
Are losses on the excess of premiums paid over the amount of the total cash value amount of a whole life insurance policy deductible for income tax purposes?
No.
Are state income payments deductible on federal taxes for corporations?
Yes, (and individuals). For Corps it is the amount paid (not accrued).
Do Hospitals have a deductible?
Yes you usually have a deductible amount that you have to pay to the hospital.
How is deductible met?
When the insured/beneficiary (patient) pays the total deductible amount out of his own pocket. A deductible is the amount for which the patient is financially responsible before an insurance policy provides payment.
Future mammograms will cost 30 percent of the Medicare approved amount with no Part B deductible true or false?
This is neither true nor false. There is no way to predict the exact cost and coverage of a future medical procedure.
What is a deductible in auto insurance?
A deductible in any kind of insurance is, basically, the minimum amount before the insurance "kicks in." On any repairs covered by your insurance, you will have to pay the deductible amount before the insurance will pay anything.
How does your deductible work in home insurance?
The amount of a policy deductible on a homeowners insurance policy is chosen by the policyholder. Your policy deductible is the amount you are responsible for paying before the insurance company will payout for a claim. If you experience a loss to your dwelling or your personal property, your homeowners insurance policy deductible applies. The deductible does not apply to other coverages on the policy. If you experience a loss under your deductible, you will not be eligible for a payout. If your loss exceeds your deductible, your deductible will be deducted from your claims payout check.
What usually happens to the amount of the premium if the deductible is lower compared to a policy with a higher deductible?
The premium will generally increase.
What are my options for Low Deductible Insurance?
A low deductible insurance policy simply means that, a low deductible, possibly $200 as compared to $2,000 which would be a high deductible. Often you are also given the option of choosing 80, 90 or 100% co-insurance. Co-insurance is the amount that the insurance company pays (after deductible) up to whatever is the maximum out of pocket amount.
What is voluntary deductible on car insurance policy?
The voluntary deductible is the amount of your deductible agreed too when you purchased your insurance coverage. It's considered voluntary because we can choose our deductibles. Of course, the lower the deductible, the higher the rate.
what is an deductible?
A deductible is the amount that the insured has agreed to pay before the insurer is obliged to pay anything on a covered claim. It can be considered to be an amount for which the insured has agreed to "self-insure". In general, there is a correlation between deductibles and premium, in that a higher deductible will correlate with a lower premium.
What is a deductible?
A deductible is the amount that you must pay out of pocket before the insurance company will start making payment.
What is an insurance deductible?
A deductible is the amount that the insured has agreed to pay before the insurer is obliged to pay anything on a covered claim. It can be considered to be an amount for which the insured has agreed to "self-insure". In general, there is a correlation between deductibles and premium, in that a higher deductible will correlate with a lower premium.
Are vehicle registration fees tax deductible in kansas?
Registration fees are only deductible when based on the value of the vehicle. KS registration is a set amount bsaed on the weight so they are not deductible. Your Property Taxes (paid at the same time) are deductible.
