Kindly break down the expenses like
1-apartment rent
2-Accommodation running cost like electricity/ air conditioning…etc.
3-food
4-income tax
5-Insurance
6-Transportation.
7-Other expenses
Please add any other expenses might not mention above.
Thank you in advance for your cooperations.
Regards
bond
Question for those out there who are experts on payroll deductions: Deductions taken from my paycheck for medical, dental insurance, long-time disability, life insurance, etc…do all companies deduct this money from bi-weekly paychecks on a pre-tax basis or are there employers who do it on a post-tax basis? I have a full-time job as an engineer on a fortune-500 company. Thank you
I am in a low tax bracket (15% I think) and my company offers the choice of having your health insurance payments taken out on a pre- or post-tax basis. I’ve heard that you pay less money in taxes if you get it taken out on a pre-tax basis, but if you get it taken out on a post-tax basis you get tax-cuts at the end of the year. Is there any truth behind this? Please help. I’m confused.
My inlaws took out a loan in there name for a house for my husband and I. WE PAY all the morgage payments,taxes, insurance, ect. They make it seem like they only get a couple hundred $ back a year (on their taxes) for this house. I was browsing some sites and they said more like 00, but I am not sure if that is correct. So can anyone give me an estimate on what they might get. The apprasal is valued at atleast 80,000 could possibly be more. We bought the house for 54,000
the intrest rate is 8.9500. Any help would be great!! Thanks
I know you are trying to help, but I wish you would read my question before you answered. My husband and I don’t want to claim the taxes on this house. We were just wondering how much his parents got.
If the deduction is taken from your income before it is taxed by the government, are those insurance payments still tax deductable?
Can anyone explain how a client gets a business owner gets a tax deductions for life insurance premiums? Not as a business expense, but a deduction against their income?
***OK** I think LB06029 is on the right track, but to clarify….. I heard that a business owner can put pre-tax money into a life insurance policy and get a deduction against their income from the business as a result. Meaning, A business owner has an extra 100K from the business, so they put it into a life insurance policy that acts like a pension plan.
I understand that if the owner lives in a four family house, 25% of the interest is shown as a deduction on Schedule A and 75% is shown as an expense on Schedule E.
However, exactly how does this benefit the owner? Lets assume the owner paid 0 over the course of the year in taxes and paid 0 in mortgage insurance.
Thanks!!
My deductions including mortgage interest, utilities, mortgage insurance, home owners insurance, repairs and materials only totalled 00 this year. Since the standard deduction is more, can I itemize these costs next year?
I understand that if the owner lives in a four family house, 25% of the interest is shown as a deduction on Schedule A and 75% is shown as an expense on Schedule E.
However, exactly how does this benefit the owner? Lets assume the owner paid 0 over the course of the year in taxes and paid 0 in mortgage insurance.
Thanks!!
I work for Frontier Airlines Credit Card sales. However, i am some how an independent contractor. I drive to and from the airport (about 50 miles round trip) and i wanted to know what i can write off…
–Gas?
–Oil changes, and other car maintenence?
–Uniforms? (shoes, pants, etc)
–Haircuts?
–Insurance?
–Car payments?
–Meals on my shift?
Im just not so sure because i work for master card and frontier but am classified as an independent contractor