 What do you plan on doing with your rebate money??? |
Additional Details
I am paying a couple of bills and then I am spending some on myself and my husband since we dont ever get to buy anything for ourself.... |
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 I'LL KEEP IT SHORT:: My husband's currently receiving unemployment, but he just got his old job back.......... |
| Will EDD find out that he is working there again, that they hired him back? Or can we keep getting benefits at least for another month? (He was out of work for a while and we are behind on EVERYTHING ... |
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 Does one have to pay taxes as an independent contractor? |
| my friend made $50,000 in 2005 and over $100,000 in 2006 so far as an independent contractor (1099-misc). she did not file for 2005 income and believes she can get away with not paying as much as she ... |
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 Why am i having to pay? |
| why do i owe the IRS when most people receive money? its only a couple or a few dollars but.........? last year and before that i didnt pay, i received. im still very new to this and dont quite ... |
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 I have a question about taxes, How much money would a college student excepect to get back? |
| I make about 10,000 a year if that. Does anyone know how much about I'll get back. Will it be all of what I put in or just part. Do my parents have to file me under them still so I'm ... |
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 Will i get a rebate check if i never recieved notice of one???? |
| i never recieved a notice from the IRS when they sent them out notifing people to expect them. i meet all qualifications and according to the online calculator i will recieve one. why didnt i ... |
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 What is capital gains tax ? |
| I have two properties the first is not morgaged the second is I wish to rent the other property through a letting agent ( property one) is it worth me doing so or should i sell also the property is ... |
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 Can my employer seize my personal goods? |
| Is it legal for a company to take your personal property? Example my job doesnt allow cell phones on the work floor. Do they have the right to take away my phone from me? They tried to do that the ... |
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 Why do i need to fill the W-2 form? |
i worked at targed for about 2 months and i got an email saying to fill the form online, what do i need to fill the form for?
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i meant why do i need to fill it!... |
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 I got married in june this year, but my wife's w-2's have her maiden name on them. got any tax-time help? |
| my wife has all the legality's changed: her social security card; legal name; etc. the only problem is she has not changed her name with her employer- and her w2's came back as her maiden ... |
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 Is it true that people who make over $90K a year don't pay social security taxes? |
| I have read two books recently (one published in 2003 and one in 2006) that said that people with $90K plus incomes don't pay into social security. Is that true, and if it is true, why?!... |
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 We had our first child in July, what does that mean for our income taxes? |
1. Do we get some kind of a child credit now? If so, how much?
2. We did not change our exemptions, how much extra would 1 extra deduction translate into our refund?
3. I think I... |
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 Is there a way to not pay a penalty on my taxes for withdrawing a retirement fund? |
| I closed a retirement account to help pay off bills so I could reduce my debt to income ratio and buy a house. I know in some ways you can write this off on your taxes maybe if it was used for the ... |
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 How should I file my taxes? |
| My boyfriend doesn't pay taxes. Probably never will. If we get married, how can I file my taxes without giving red flags to the IRS about him? My taxes get taken out of my check so it's ... |
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 Could i sue the council over council tax arrears? |
| hi would it be possible to do the above ,my council waited thirteen years they never contacted us then when they did i was 14000pounds in arrears i know i have a responsibility ti pay but surely they ... |
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Ms. D | Is money used to build a home tax deductable ? |
Additional Details
I have a 3500 taxable event that I need to get around paying taxes on. I was wondering what I could do to off shoot the taxes. I know home improvements are deductable, but do not know about actually building a home. Since I am building a home, just wondering.......
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SilverKing
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There's a lot of variables there. Normally no, money used to build or improve a home is not a deduction.
If you finance the building then the interest you pay on the mortgage may be deductible.
Depending on where you are building there may be some tax incentives available and if you utilize environmentally friendly building techniques or install energy efficient features such as solar panels, geothermal heating, etc. |
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bostonianinmo
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No, however you need to keep careful records since that will be used to calculate your cost basis in the home when you sell.
When you sell you MAY owe taxes on the gain, i.e. the difference between your basis and the net proceeds from the sale.
Therefore you must keep the data on your cost basis for as long as you own the home, plus 3 years from the filing deadline for the return in the year that you sell the home. |
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Judy1
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No, the only thing deductible on a house is mortgage interest (can include points as interest and PMI in some cases) and real estate taxes. |
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v b
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Even if there was something you could do to bring your income down, it's too late for 2007. Anything you do in 2008 affects your 2008 taxes. |
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Ray J
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No, but the interest you pay on the loan and the taxes are. |
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taxreff
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The above answers are correct, as costs to build a home are not deductible.
To clarify an error in your mesage, home improvements are not deductible. They are instead added to the basis in your home. |
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notyou311
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No. |
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WAYNE T
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Is the money you pay the bank to buy a car deductible?
Not much difference you still have your money it is only now invested
Other wise everybody would be building houses and sell them latter to avoid paying income taxes |
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