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Is lasik eye surgery tax deductible?
Yes, LASIK eye surgery may be tax deductible if it is considered a medical expense and meets certain criteria set by the IRS.
Are travel expenses deductible for tax purposes?
Yes, travel expenses can be deductible for tax purposes if they are related to business, medical, moving, or charitable purposes and meet certain criteria set by the IRS.
Is summer camp tax deductible?
Summer camp expenses are generally not tax deductible, unless the camp is specifically for childcare purposes and meets certain criteria set by the IRS. It's important to consult with a tax professional for specific advice on your situation.
What is the purpose of IRS Form 8606 for the tax year 2013?
The purpose of IRS Form 8606 for the tax year 2013 is to report non-deductible contributions made to traditional IRAs and to track the basis in these accounts to avoid double taxation when withdrawing funds in the future.
Can I write off a business trip as a tax deduction?
Yes, you can write off a business trip as a tax deduction if it is necessary for your business and meets the IRS criteria for deductible expenses.
Is rent expense deductible with the IRS?
No. Personal expenses are not deductible on your 1040 income tax return.
Is interest paid IRS on delinquent taxes deductible?
No, personal interest is never deductible, regardless of who it is paid to.
Is lasik eye surgery tax deductible?
Yes, LASIK eye surgery may be tax deductible if it is considered a medical expense and meets certain criteria set by the IRS.
Health care non-deductible expenses?
Publication 502 has all of the information on health care expenses. It has separate chapters that list both deductible and non-deductible expenses: http://www.irs.gov/pub/irs-pdf/p502.pdf
Are travel expenses deductible for tax purposes?
Yes, travel expenses can be deductible for tax purposes if they are related to business, medical, moving, or charitable purposes and meet certain criteria set by the IRS.
What form do you I use to claim funeral expenses on taxes?
Funeral expenses are not deductible on a tax return (IRS Pub 502).
What is the maximum tax deductible contribution that can be made to a 401K plan per year?
The maximum tax deductible contributions allowed by the IRS to be made to a 401K plan per year is lesser than fifteen percent of ones income. If one is over the age of 50, the IRS allows an additional $5,500 per year. These numbers change based on the IRS formulated costs of living per year.
Are therapeutic wilderness programs tax deductible?
Therapeutic wilderness programs may be tax deductible if they qualify as medical expenses under IRS guidelines. To be deductible, the program must primarily aim to treat a specific medical condition, and you may need to provide documentation to support this. It's advisable to consult a tax professional or refer to IRS publications for detailed eligibility criteria and to ensure compliance with tax laws.
Why do hotel bills need to be itemized for the IRS?
Hotel bills must be itemized because only a subset of expenses are tax-deductible. Your lodging, meals, and even items like dry cleaning are deductible. But expenses like using gym facilities, watching paid movies, or playing games are not. Documentation 17 from IRS has a very complete set of information on this. http://www.irs.gov/pub/irs-pdf/p17.pdf
Are any gifts tax deductible?
Gifts for 501c3 non profit organizations and charities are generally tax deductible. ALWAYS consult with tax professional if unsure of the written instruction given on the tax forms or IRS web site.
Is a walk in tub deductible on my tax return as a medical expense?
No, I'm afraid it is not. Just like a hot tub is not deductible because someone has back aches. These items are all seen the same way by the IRS and tax law.
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.
