Home | Links | Contact Us | Bookmark
Financial Forum Search :
   Homepage      News      Financial Topics     Finance Directories      Financial Forum      Dictionary  
Financial Forum    Taxes
Finance Discussion Forum

 DO you dread the next tax rise or rate rise?
...


 If an employer hesitate to give w2 then what employees can do?
Can employee report to IRS about the employer? Is it a law that employer must give W2 to all of its employee irrespective of current employee or ex employee?...


 Why does life have to be such a hrd leason to lern?
...


 My salary has been wrong for 6 years - who has to pay the tax man I am in the UK?
My company have been administering for salary incorrect for 6 years. They have been deducting my pension contribution from my taxable income and I have been paying tax on the lesser amount. They ...


 If im recieving income support, dont work and live with my parents, how much child tax credit will i recieve?
and how much will my income support go down to if i get £35.65 a week if i recieve child tax credit?
ive tried to contact child tax credit and income support but nothing has worked.
A...


 Where is my tax rebate check? Suppose to be in my account today will i still get it or whats going on?
...


 I am in law enforcement if i dont have a house is there a way i can claim my uniforms / equipment and our son?

Additional Details
ok obviously by the answers i am getting yall dont seem to understand the question or maybe i asked the wrong question i should say is it possible to fill out long ...


 Does a baby have to be born by 12/31/07 to be claimed as a tax deduction on my 2007 return?
If my baby is born in March of 2008, I would have the Social Security Number. Am I allowed to put this on my return and claim the deduction? If this isn't allowed and I do it, would there be a ...


 If I file my taxes illegally, what's going to happen?
Ok, for whatever reason, my husband and I didn't have fed. taxes taken out of our checks all year. When I went to file, it said we owed over 1,000. When I took his income off, it said I would ...


 Can i refuse the stimulus payment?
is this payment something that i can refuse, for own personal reasons? what are the payback terms and conditions?
Additional Details
CAN IT BE REFUSED?...


 Exempt from Federal Taxes....Will I still Recv a Refund for 07?
Ok, here is my predicament. I filed exempt on my tax forms like I do every year with 1 exemption thus preventing Federal Taxes from being taken out of my paychecks and ONLY Fica/Med/State taxes ...


 Please don't bother cutting and pasting the IRS mailing schedule, I need direct answers...?
Last 2 of my SSN# is 20, at this point I am aware that I am not getting DD (but instead will be getting a paper check) My question is: Since the IRS started distributing the paper checks early, ...


 Can my ex claim the children as deductions on his taxes if he is behind on his child support?
My decree says that we each claim 2 of the 4 children. But it doesn't say if he can or can not if he is behind on child support. A friend's decree specifically says that her ex can not if ...


 I just filed my taxes 2 day before April 15, 2008 and im expecting a refund.?
how long will it take for me to recieve me refund?...


 I just got married in december 2007,Is there anyway around filling married for my 2008 taxes?
...


 Why the government forces people to pay tax? why can't I opt out of their social programs and not pay tax.
I just want to live in a remote area, I dont need the goverment for anything. And I dont wana pay any taxes either. So why the government is allowed to jail me if I do so? Do they own me?...


 Where do I "report" my employer if my W-2 was not mailed by the 1/31 deadline?
I'm VERY angry I have not received them. Yes, I know they, legally, have to be POST MARKED by the 31st. But if they are post marked, say 2/5/09, where do I go?
Additional Details
P...


 Can i claim my daughter still?
the father of my child claimed my daughter on his W2 form when he got hired at his new job (even tho i asked him not to) if he does not claim her on his tax return EZform can i claim her? I have ...


 Does claiming bankruptcy include state and federal back tax debts?
I have never filed bankruptcy, but owe bookoo bucks on both, does filing chapter 13 include those debts?...


 If I sold a house that belongs to me . What kind of taxed do I expect to pay to the IRS?
My sister sold her house and she is moving to a new one. Does she have to pay taxes on that money?....



twin1mbc
Do you get money back from your taxes when you have a house?
                     
 




Keith Perry
Well some people itemize. When you own a house you will get a form to submit for tax returns. However if you lets say bought your house in middle of the year then its not worth filing it. That is what happened to me. My tax advisor told me not to file.


in love with superman
Rating
When you own a house you can take the interest from your payments off IF you itemize. You should receive a 1098 from the institution which you pay your house payment at the end of the year. Take this to your tax preparer and they should be able to figure out if it's enough to itemize. If you do not have enough itemized deductions to be more than the standard deduction it is not worth it to itemize. Also you can deduct your real estate taxes if you itemize too. This may or may not be on the 1098 if you have an escrow account. Be sure to add this in to you deductions on your Schedule A along with any donations you gave during the year, medical expenses including glasses and eye care, taxes you paid to the state, etc.


Adios
Rating
Insufficient information to give you an accurate answer. If your mortgage interest and real estate taxes added to your other itemized deductions total more than the standard deduction for your filing status (married, single, etc...) then it will reduce your tax liability. If you've had more dollars withheld from your pay than your tax liability then you will receive a refund, regardless of whether you own a home or not.


Rich Z
Rating
You can usually deduct the interest on your mortgage. That lowering of income reduces your taxes and might result in money back if you already paid in enough by payroll deductions.

If the house is partially rented by you to a tenant you can also deduct maintenance and depreciation on the rented part (but need to pay taxes on the rent).


Elle
Rating
You don't necessarily get "money back", but you get a tax deduction for the mortgage interest you pay.


Zelda
You can deduct the interest and taxes but unless this amount adds up to be greater than your standard personal deduction, it isn't worth it. For example, last year the standard deduction for married people was $10,000.00. I couldn't come up with over that amount in deductions, so I just didn't itemize.


J.C.
Rating
it depends were you live

usually is not money back
only tax breaks


Stephanie A
You get to claim mortgage interest paid and points paid on schedule A of the 1040.


Marvinator
Not necessarily. It depends on many other factors.


ed
You can deduct "the interest" from "your total income", which helps to reduce your taxable income. IE, Adjusted Gross Income.
You cannot deduct it from the actual tax liability.


 Enter Your Message or Comment


User Name:  
User Email:   
Post a comment:







Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.024
Copyright (c) 2011 Financial Crisis Tuesday, May 29, 2012 - Terms of use - Privacy Policy