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What is the other word for deduct?
subtract reduce withdraw abstract abate diminish discount dock lessen remove take cut
How do you calculate fair share draw?
To calculate a fair share draw, you first determine the total revenue generated and then establish the percentage that each stakeholder or partner is entitled to based on prior agreements or contributions. Next, deduct any expenses or costs from the total revenue to find the net amount available for distribution. Finally, multiply the net amount by each stakeholder's agreed percentage to determine their fair share draw. This method ensures that each party receives a proportional return based on their involvement.
Can a landlord refuse to let you paint your apartment while refusing to do it himself?
Yes you can paint your apartment and but you need to look at your lease you maybe able to deduct the cost from your rent as improvements to raise property value
Can mortgage interest and insurance be deducted on a rental home even if someone doesn't own another home and is renting too?
Here are opinions and advice from FAQ Farmers: * It depends. This is from Tax Topic 505 at IRS.gov: "Your main home is where you live most of the time. It can be a house, cooperative apartment, condominium, mobile home, house trailer, or houseboat that has sleeping, cooking and toilet facilities. ... A second home can include any other residence you own, and treat as a second home. You do not have to use the home during the year. However, if you rent it to others, you must also use it as a home during the year for more than the greater of 14 days or 10 percent of the number of days you rent it, for the interest to qualify as home mortgage interest." * I don't know what the laws are like in your jurisdiction but around here a second home purchased for the purpose of renting is considered a rental property. Everything including mortgage, property taxes, and utilities etc are totally written off. Even maintentance, yard cutting, repairs are all written off too. * This is not tax advice but this is governed by the IRC. If the primary purpose is rental then interest and other ordinary and necessary expenses are all deductible.
What can you do as a renter when the landlord has not paid asessment fees to the association?
If the association fees are part of the obligations of your landlord under your lease agreement you could pay the fees directly, then deduct them from the rent, sending a letter to the landlord with the accounting. You should check to see if there is a landlord-tenant agency in your area and call for advice.
Can I deduct mileage expenses if I am reimbursed for them?
No, you cannot deduct mileage expenses if you are already reimbursed for them.
Where should I deduct my computer expenses on Schedule C?
You should deduct your computer expenses on Schedule C under the "Other Expenses" section.
Can I deduct therapy expenses on my taxes?
Yes, you may be able to deduct therapy expenses on your taxes if they are considered necessary medical expenses and you itemize your deductions.
Keep Track of Business Expenses?
If you are filing a 1099, the best thing you can do is keep thorough track of all your business expenses. There are many cases in which a business owner or independent freelancer will be able to deduct certain business expenses from personal income. If you do not take the time to keep track of business expenses, then you may end up paying unnecessary funds toward these expenses in filing your taxes. A typical expense that business owners are able to deduct from income is a laptop computer. It is definitely worthwhile to figure out which expenses you can deduct from your income.
Can you deduct commuting expenses on tax return?
Only if you work in two different locations. You can deduct the expenses of getting between the locations, but not the expenses of getting to and from home.
Can I deduct gas expenses on my taxes?
Yes, you may be able to deduct gas expenses on your taxes if you use your vehicle for business purposes.
Can you deduct child care expenses on your taxes?
Yes, you can deduct child care expenses on your taxes if they are necessary for you to work or attend school.
Can you deduct childcare expenses on your taxes?
Yes, you may be able to deduct childcare expenses on your taxes if you meet certain criteria and if the expenses were incurred to allow you to work or attend school.
Can you deduct therapy expenses on your taxes?
Yes, you may be able to deduct therapy expenses on your taxes if they are considered necessary medical expenses and you meet certain criteria set by the IRS.
Are your expenses tax deductible when you work at home?
If you are an employee and itemize your deductions, you can deduct unreimbursed employee expenses subject to a number of limits. If you are a contractor or sole proprietor, you can take them off of the top. Please note that expenses for your home office are complicated and can be an audit trigger, so contact a CPA.
Can you deduct home office expenses?
This could be possible if you have any qualifying home office expenses to deduct. Click on the below related links
Is it possible for me to deduct medical expenses that were paid by someone else?
No, you cannot deduct medical expenses that were paid by someone else on your tax return.
