 Who can claim my grandson? |
| my son and his gf had a baby he is 8 months old. my son would like to claim him as he does take him often on overnights and gives her money all the time to help support him.the gf don't work,but ... |
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 My sister loaned me of money over the years. When i give it back to her does she have to pay taxeson it again |
| I'm about to recieve a settement and am able to pay her back some of what she has given to me. She is in a 46% tax bracket. Sne would have to give half of it to gov. She paid income tax when she ... |
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 Medical tax deduction for hot tub? |
My husband has rheumatoid arthritis and we were looking at hot tubs
for him to relieve the pain and aid with circulation. The salesperson
told us we could get a medical deduction credit ... |
|
 I need to file my old taxes for 2005 and I need to do it before April 15th? |
| I still need to file taxes for 2005. I was hoping to file eletronically online in order to make the April 15th deadline. Do you have any suggestions? I was hoping to do it myself I don't want to ... |
|
 Is my student loan interest deductible? |
| student loan interest is taken as an adjustment to taxable income on the first page of 1040....but phased out at higher incomes. Is it then deductible somewhere else, like schedule A?? Or do you ... |
|
 Is it feasible to claim my NI tax money back? |
| I'm currently a permanent employee but was working as a casual worker during my studies. I was wondering if it's possible to claim my tax money back. I've heard that if you've ... |
|
 Anyone have experience with tax returns? |
| I have a 1099 misc from one of my employers with no taxes taken out. When trying to complete my return, my adjusted gross income is correct, but my Earned Income Credit is not. The EIC is not ... |
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 If the goverment owe's a person income taxes like the person is getting money back and that person does not |
| file taxes can he or she get in trouble for not filing taxes even though they don't owe anything to the gov.... |
|
 I have just been reassessed by the CSA and they have left me the equivalant of an unemployed persons allowance |
to pay my utility bills which includes my council tax and food.Unemployed people as far as i am aware do not pay council tax..Has anyone else had this kind of problem and had a successful outcome?
... |
|
 Do I need a Tax ID number? I'm SELF EMPLOYED, HELP!!!? |
| I'm starting my web design business, but don't know how to get a tax id number or what forms to fill out or anything. I am the only person working, no employees or anything, just me! Does ... |
|
 What are the COOLEST cell phones? |
| my friends and i always talk about the newest and coolest cell phones. but i no NON of them. so if you could please help me find out about the phones. thank ... |
|
 REBATE STIMULUS!!!! I am confused!!!!? |
| hI,i have a question, according to the calculator, i will get a rebate of $600(i used the info to calculate according to my 1040ez) and i checked the status of my rebate and when will i get my money, ... |
|
 Help!The IRS froze my bank accounts!? |
They froze our bank accounts because of an issue on our taxes from 2005. They said if not paid in full in 21 days they will take the money from our accounts. I have some questions.
1. How ... |
|
 Stimulus payment... Has anyone been given a date of 5/7 or 5/9 by the "Where's my Stimulus Payment" tool? |
| Just curious about this. I'm still not able to get any info. Last two digits are 49, "supposed" to have the payment by this Friday. I was just wondering if anyone was seeing those ... |
|
 What if you were out of work for 1-2 yrs and did not collect unemployment, do you still have to pay taxes?? |
| At one point, one of my friends had lost a job in Jun of 2006, that he worked at for a long time. He reported his income to irs the next tax year in april 2007, as usual through the proper forms. Got ... |
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mountainman | Are home improvements tax deductible? |
|
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scokeman
 |
depends on what stae you live in, in CA you can only use them if it is a home repair. |
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jalapeno
|
yes |
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rockEsquirrel
|
not usually. |
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Oh Boy!
|
No, but they can reduce the capital gains realized when you sell your home.
For example: you pay $200,000 for your home, spend $50,000 on improvements and then sell for $800,000. Your taxable gain (ignoring exemptions, etc.) is $550,000, not $600,000. |
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Judy1
 |
No, not unless they fit as a medical deduction, e.g. in some limited circumstances, something like air conditioning or a hydrotherapy pool might be deductible if a doctor states in writing that it is necessary due to your health problem.
Improvements, NOT REPAIRS, can be added to the basis of the house, and might reduce your capital gains tax when you sell. |
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wizardslizards
 |
yes. |
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williegod
|
Assuming you are referring to a primary residence, they only add to the basis (cost) of the home which is a factor only when you sell. They are not tax deductible. |
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sambadgerlover
|
Only if you use a home equity loan or a second mortgage to fund the home improvements. |
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