 Has anyone gotten their stimulus check yet? |
| I had direct deposit and the last two digits of my social is 01. I am single with 0 dependants. I heard it was suppose to start early on Monday and should be done by Friday.....but it's Friday ... |
|
 Stimulus Payment? |
| Someone told me that the direct deposit tax refund regardless of their ss# will all get them by 5/2 yet I went to IRS site and went through the "Where is my Stimulus Payment" and it said We ... |
|
 Will IT Dept be able to track down my interest income frm FDs even if I don't disclose it while filing return? |
I have several fixed deposit accounts with State Bank of India, where I have declared my PAN number.
Now while filing my income tax return at the end of the financial year if I don't ... |
|
 Can my future mother-in-law claim my fiance?? |
| My fiance's mother wants to claim her as a dependant on her taxes. I'm not sure if she can do that, my fiance is 22 and she made over $17,000 this year. she did live at her mothers house ... |
|
 Holiday pay help? |
If you leave a job are you entitled to the whole years holiday pay, I am sure you aren't and I am trying to prove a point. Thanks
Additional Details
sorry I am in the UK... |
|
 Do you tip your tax preparer? |
| Instead of doing my taxes myself, for my first time I went to an H&R Block office. I was truly grateful for the assistance the tax preparer gave me. She was extremely helpful, and even held the ... |
|
 New bank holiday for the uk....? |
forget about the extra bank holiday, instead how about a tax free week every year. help us catch up with our out goings. whoose up for signing a petition.....
Additional Details
Hi ya ... |
|
 Where is there a law stateing u have to pay income taxes? |
it says they could tax workers ,but there is no law that states u have to pay
Additional Details
www.zeitgeistmovie.com/ check it out the whole ... |
|
 Is the Countil tax fair? |
| My rent is £78 quid a week and C.tax is £23 it looks as if the C.tax could one day be more than my rent.... |
|
 Are you Americans happy now that puertoricans are starting to pay more taxes? |
| They have to pay 7% more of taxes (sales tax) in everything they buy. I don't know why you people complain when the salaries of puertoricans are still less than yours. A professional in the U.S ... |
|
 Is this what our council tax goes on their wages? |
http://uk.news.yahoo.com
Thoughts please.
Thanks.... |
|
 Has anyone rec'd a 2nd confirmation letter of the stimulus check? |
| Has anyone rec'd a 2nd confirmation letter of the stimulus check?... |
|
 Using H&R Block VS Using a CPA? |
| What are the pros and cons of using H&R Block or a CPA?... |
|
 Did you get your Stimulus Check...details inside.... =)? |
I received my Stimulus check yesterday in the mail.
I live in Western PA.
My SS# ends in 10.
I got the letter stating i would receive it on 5/23..of course I think they mean mailed ... |
|
 Tax season is coming up. Can my husband and I file separately? |
| I just got married 3 months ago and tax season is coming up, my husband and I want to file separately becuase we think we can get some $$. We don't have children yet. But I'm wondering if ... |
|
|  |
Sierra B | Can you deduct interest paid on an car loan from your taxes? |
My brother is able to deduct the interest he pays on his farm equipment, and I'm able to deduct the interest I pay on a student loan... so I was wondering if anyone knows if it's possible (or legal) to deduct the interest paid on an car loan come tax time? |
 |
 
Sara B
 |
Not if it's your personal car. If it's used for a business you own, then you could deduct the proportion than your car was used for the business - sort of like your brother's farm equipment, which is used in his business.
A website I've recommended in the past would be...
http://www.safelinked.info/go.php?link=auto
Have a nice day. |
|
Evil Alien Sheltie
 |
No... unless you use your car for business...and no that doesn't mean driving to work. |
|
A1
 |
I f you use it for business |
|
ninasgramma
 |
If your brother is in the business of farming, his equipment is business equipment and the interest is a business expense.
If your vehicle is used for business, you can deduct finance charges (a portion based on your business usage) on your car loan if you are self-employed.
If you are an employee who uses your car for business and you are not reimbursed, you can deduct mileage or actual expenses of operating the car. However, interest charges are not part of the actual expenses of operating the car and are not deductible for employees. |
|
viajero_intergalactico
|
no, and did you know that if you took out a loan on your house to pay for that car...the interest still would not be "legally deductable". but most people dont know that. |
|
Steve
 |
Unless you use the car regularly for business purposes, you cannot deduct the interest for a car loan. |
|
v b
 |
The last time you could deduct "personal interest" was back in 1986. |
|
mukwonago53149
|
No.
However, if you own a business, which in turn, owns the car, the business can deduct the interest paid.
Also, you can deduct the interest paid on the car if it's investment property, like a collectable car. |
|
De Deuce
|
Neither of you are legally deducting "interest payments" legally on your income taxes.
Your brother is taking the interest paid as an "expense" of doing business, but is not specifacally taging it as interest. there is NO interest deduction available to US taxpayers other then in that of the mortgage deduction.
A car loan interest for personal use is the same thing, not deductible and neither is the student loan interest. |
|
Chris R
|
YES SAME AS YOU CAN WITH INTEREST PAID ON A MORTGAGE OR SCHOOL LOAN |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
11 | 15 minutes(s) ago
| | | |
11 | 52 minutes(s) ago
| | | |
11 | 2 hour(s) ago
| | | |
11 | 3 hour(s) ago
| | | |
11 | 6 hour(s) ago
| | | |
11 | 8 hour(s) ago
| | | |
11 | 2 day(s) ago
| | | |
11 | 4 day(s) ago
| | | |
11 | 5 day(s) ago
| | | |
11 | 1 week(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
