Mortgage interest is tax-deductible and I heard so is PMI (private mortgage insurance), does that mean you get that money back or that it is money that isn’t taxed? I have a 1200$ mortgage with a 150$ PMI cost per month. Can someone break this down?-thanks
I bought a home with an FHA loan in 2008 and paid UFMIP at closing. On the 1098 from the lender, the amount of the UFMIP is listed as a mortgage insurance premium in Box 4.
The way I understand it from the tax guides, I can only deduct part of this on my 2008 taxes, but I’m wondering why the lender included the entire amount in the box. Any ideas? Can I actually deduct the entire amount for 2008?
What documents are needed when filing for medical tax deductions? Can i just have a copy of the bill and date paid or do i absolutely need like a paid in full invoice? I paid almost ,000 this year in medical bills with my insurance. And do you know how this could effect my abilities to purchase a home?
I want to take advantage of medical tax deductions which I know should exceed 7.5%. Does anyone know, do I need every receipt for every visit or will a whole list of all the claims and my co-pays from the Insurance Company be enough? What can one do if the receipts are not all available?
NOWWHAT-Thank you for the response. I pretty much have costs like the copay’s and some other lab fees which I thought may exceed the 7.5, but gotta say there aren’t many receipts…which sucks. Thank you!
Are any of the following expenses tax deductible for an IC:
Gasoline – can I deduct all gasoline costs or only the amount I use going to and from work?
Car insurance?
College tuition? (for a degree related to my work…however, my parents are providing the funding for the tuition..so I probably can’t use this as a deduction..?)
Is there anything I can deduct as an IC?
Thank you!
During September of last year, my motorcycle got stolen from the basement of my apartment building in California. Total estimated loss is around ,000. Is there a way to claim the entire or at least partial loss in the 2007 taxes? I have copies of the police report as proof. Please help.
Update: Insurance didn’t pay for the losses. I already declared as loss with California Department of Motor Vehicles.
One way or another, lets coerce these individuals into supporting greedy insurance companies. The CEOs want more private jets, yachts and villas. Please call Barack Hussein Obama on behalf on insurance CEOs and demand steeper fines on these irresponsible individuals who hold onto their wallets and refuse to enrich the rich.
Will I get to deduct the full mortgage interest, full insurance bill, all repair expenses etc? If So I will always be at a "loss." Has anyone dealt with this?
New business starting out are usually not making much of a profit, if any, in the beginning. If the Obama wants to give them a subsidy for health insurance for the entrepreneur/s and the employees, wouldn’t that subsidy have to take a more direct form?
http://news.yahoo.com/s/ap/20091003/ap_on_go_pr_wh/us_obama
I am an insurance agent with Nationwide and I was wondering if there are any tax deductions I can use.I heard I can use my car as a deduction.Does anybody know of anything else.I’m going to a cpa on sunday but I want to be prepared.