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Are interest and dividend taxes paid in New Hampshire deductible on the Federal Schedule A?
Yes.
Is interest paid on promissary note tax deductible?
We are holding a promissary note, on a sale of a rental. Will the people owing the money to us be able to claim the interest on their taxes?
Can federal taxes paid in 2007 for tax year 2006 be deducted for 2007 taxes?
No. Federal taxes are never deductible from Federal taxes! (Even if you paid them the year they were due. Certainly paying them in a later year won't produce a benefit).
Is preferred stock dividends tax deductible?
No, preferred stock dividends are not tax deductible for the issuing corporation. Unlike interest payments on debt, which can be deducted from taxable income, dividends paid to preferred stockholders are considered a distribution of profits and are not deductible. This means that the corporation pays taxes on its earnings before distributing dividends to preferred stockholders.
What happens if you paid your taxes late?
A penalty and interest will be charged.
Are interest and dividend taxes paid in New Hampshire deductible on the Federal Schedule A?
Yes.
What is delinquent taxes?
means still the amount should be paid
Is interest paid on promissary note tax deductible?
We are holding a promissary note, on a sale of a rental. Will the people owing the money to us be able to claim the interest on their taxes?
Is Interest paid to debt collectors tax deductible?
no
What kind of taxes are charged on the principal of student loans?
AnswerThere are no taxes on the principal of any loan, student or otherwise.In fact, there are no taxes on the payor of interest on a loan, student or otherwise. (The receipient of interest has taxable income of the amount earned).The interest paid on a loan secured by ones residence, are generally, deductible (the opposite of paying taxes)..
Is the interested paid on a back spousal support payment tax deductible?
Personal interest is not tax deductible
What happens if you are being sued for town taxes?
You should arrange to pay off the delinquent taxes as soon as possible. If they are not paid the town will take possession of your property and sell it to a new owner.You should arrange to pay off the delinquent taxes as soon as possible. If they are not paid the town will take possession of your property and sell it to a new owner.You should arrange to pay off the delinquent taxes as soon as possible. If they are not paid the town will take possession of your property and sell it to a new owner.You should arrange to pay off the delinquent taxes as soon as possible. If they are not paid the town will take possession of your property and sell it to a new owner.
What are the most popular retirement plans at Traditional IRA website?
You can choose between a deductible and a non-deductible traditional IRA plan. The deductible one allows you to get a refund on the taxes that you paid previously. With the non-deductible one you fund it with the money you get after paying taxes.
Will you get money back when doing your 2012 income taxes from interest you paid on new house?
Interest payments on a home are deductible from income. Read the tax code carefully as some of the closing costs may also be deductable.
Is gasoline tax deductible on a 2007 individual federal tax return?
No, typically property taxes, real or personal, and taxes paid to states/localities are deductible as a Schedule A Itemized Deduction.
Who gets to deduct interest on taxes when entering a real estate contract?
I'm not sure entering is the right term...ut interest on taxes would ONLY be deductible by the party that paid it AND only if that party was buying the real estate as a business investment/capital asset, not for personal use.
Is mortgage interest taken off the top of income when reporting federal taxes?
Certain mortgage interest paid on a primary residence, meeting some other qualifications, is deductible against ordinary income - as an itemized deduction, if that is what you mean.
