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In general, the cost of new carpet can be deductible if it is considered a business expense or if the property is used for rental purposes. For personal residences, the cost of carpet is typically not deductible. However, if you are renovating a rental property, you may be able to depreciate the cost over time. Always consult a tax professional for specific advice related to your situation.
What else can I help you with?
Will I be able to deduct a portion of my local property taxes from my NY state income tax?
No. However, you can deduct property taxes from your federal tax liability.
How does a person deduct charitable donations on their income tax returns?
A person can deduct charitable donations on their income tax returns by writing a percentage to a charitable organization. Their income tax returns will be reduced when they get it.
Can you deduct an accrued loss contingency for tax purposes?
no
CAN I DEDUCT LOWES ON MY TAX RETURN?
I don't know anything about your tax return but I can say that if you have a personal tax return and purchases from Lowes that you refer to are for normal maintenance of your home the answer is no. You cannot deduct expenses for maintaining your home.
Can a proprietor deduct Income tax from employees?
This will depend on what country you're talking about. The rules in the UK are that not only can he deduct tax, but he must. It's called Pay As You Earn (PAYE)
Can I deduct back state tax payments on my tax return?
Yes, you can deduct state tax payments on your federal tax return if you itemize your deductions.
Can you deduct property taxes in California on your tax return?
Yes, you can deduct property taxes in California on your tax return.
Can I deduct Roth IRA contributions on my tax return?
No, you cannot deduct Roth IRA contributions on your tax return because they are made with after-tax money.
Can I deduct charitable contributions in 2021 on my tax return?
Yes, you can deduct charitable contributions on your 2021 tax return if you itemize your deductions.
Can you deduct state income tax if you don't itemize your deductions?
No, you cannot deduct state income tax if you don't itemize your deductions.
Is my apartment rental unit tax deductible?
No, you can not deduct taxes for an apartment rental. Even if you had to get a new apartment to be closer to a new job, travel and expenses are tax deductible, but not housing.
Can I deduct state income tax on my federal return?
Yes, you can deduct state income tax on your federal tax return if you itemize your deductions instead of taking the standard deduction.
Can welfare deduct income tax refund?
no
Can I deduct depreciation on my primary residence?
No, you cannot deduct depreciation on your primary residence for tax purposes.
Can I deduct the purchase of a used car?
Not unless you use the vehicle for business purposes. You may be able to deduct the sales tax if you itemize your tax return.
Will I be able to deduct a portion of my local property taxes from my NY state income tax?
No. However, you can deduct property taxes from your federal tax liability.
Can I deduct taxes paid for the previous year on my tax return?
Yes, you can deduct taxes paid for the previous year on your tax return if you itemize your deductions.
