What are the tax benefits for my situation?
Q. I am paid a salary to go to grad school. A got a w2 for this salary a few days ago. In addition, the tuition is paid for but is considered taxable. I also received a w2 form for this tuition payment to my school. I have a few odd quesitons that hopefully someone can help me out with concerning taxes. I'm used to paying my own tuition in college and then taking the credit later when taxes come. In this case however do I get the same lifetime learning credit? My employer sent a check to my school, so I didn't see it. I do have the w2 saying that the $10,000 is considered wages. Very confusing to me. I feel that if I was given the $1000 as part of my normal wages and then paid the tuition out of my pocket, the situation is the same, but… [cont.]
Asked by Smitty Carmichael - Tue Feb 6 17:00:27 2007 - - 1 Answers - 0 Comments
A. A tax accountant would better answer your question. However, if you went to school part time, then the 10,000 your employer paid for tuition is considered income; I think there may be taxation on fringe benefits... If you went to school full time, it may be a tax write-off, only if the training in related to your profession or line of work. Your better off consulting a tax accountant to help you with this stuff.
Answered by Muga Wa Kabbz - Tue Feb 6 17:07:48 2007
Q. I am paid a salary to go to grad school. A got a w2 for this salary a few days ago. In addition, the tuition is paid for but is considered taxable. I also received a w2 form for this tuition payment to my school. I have a few odd quesitons that hopefully someone can help me out with concerning taxes. I'm used to paying my own tuition in college and then taking the credit later when taxes come. In this case however do I get the same lifetime learning credit? My employer sent a check to my school, so I didn't see it. I do have the w2 saying that the $10,000 is considered wages. Very confusing to me. I feel that if I was given the $1000 as part of my normal wages and then paid the tuition out of my pocket, the situation is the same, but… [cont.]
Asked by Smitty Carmichael - Tue Feb 6 17:00:27 2007 - - 1 Answers - 0 Comments
A. A tax accountant would better answer your question. However, if you went to school part time, then the 10,000 your employer paid for tuition is considered income; I think there may be taxation on fringe benefits... If you went to school full time, it may be a tax write-off, only if the training in related to your profession or line of work. Your better off consulting a tax accountant to help you with this stuff.
Answered by Muga Wa Kabbz - Tue Feb 6 17:07:48 2007
What are tax deduction benefits for establishing a scholarship?
Q. Now that I've made it through college and established myself in my career and financially, I am looking at various investment and donation opportunities. For personal reasons, I do not want to simply make charitable donations to an organization. One thing that does strike my interest is establishing a scholarship and awarding it to a student attending the college that I went to. What are the potential tax benefits of this type of donation? Would it be comparable to simply donating to a recognized charity for tax write-off purposes?
Asked by fslabrum - Fri Sep 14 14:09:56 2007 - - 2 Answers - 0 Comments
A. You could contact your college and ask about establishing a scholarship. The only problem with doing that is that you give up control of your donation. Your other option would be to establish a scholarship with you as the administrator, but you'd need to register it with the IRS as a non profit 501 (c) (3) organization, and depending on the amount of income it would earn each year it might or might not have to file a 990 tax return. With it being a 501 (c) (3) people who donate to the scholarship would get a charitable contribution deduction on their tax return (provided that they itemize).
Answered by PepsiLime - Fri Sep 14 16:19:31 2007
Q. Now that I've made it through college and established myself in my career and financially, I am looking at various investment and donation opportunities. For personal reasons, I do not want to simply make charitable donations to an organization. One thing that does strike my interest is establishing a scholarship and awarding it to a student attending the college that I went to. What are the potential tax benefits of this type of donation? Would it be comparable to simply donating to a recognized charity for tax write-off purposes?
Asked by fslabrum - Fri Sep 14 14:09:56 2007 - - 2 Answers - 0 Comments
A. You could contact your college and ask about establishing a scholarship. The only problem with doing that is that you give up control of your donation. Your other option would be to establish a scholarship with you as the administrator, but you'd need to register it with the IRS as a non profit 501 (c) (3) organization, and depending on the amount of income it would earn each year it might or might not have to file a 990 tax return. With it being a 501 (c) (3) people who donate to the scholarship would get a charitable contribution deduction on their tax return (provided that they itemize).
Answered by PepsiLime - Fri Sep 14 16:19:31 2007
What are the different tax benefits that I can claim from my house payments?
Q. Can you guys list different income tax benefits that I can claim from my house payments? How can I deduct that from taxable income? All formulaes for calculating taxes are welcome.
Asked by curious - Tue Sep 5 12:54:53 2006 - - 3 Answers - 0 Comments
A. Hello, I recommend checking with your CPA, but the following is an example of the tax benefits for homeownership. John & Jane Homebuyer purchase a home costing $150,000, and pay property taxes of $3,000 per year. Some deductions previously not used due to taking standard deduction may now be available. Example charitable donations True effect can be seen by comparing tax effects: Adjusted Gross Income Standard Deduction $ 125,000 Itemized Deductions$ 125,000 Deduction Standard Deduction (10,000) Itemized Deductions(15,527) Income Tax Standard Deduction 20,480 Itemized Deductions19,098 Withholding Standard Deduction (21,500) Itemized Deductions (21,500) Refund/(Amount Due) Standard Deduction $ 1,020 Itemized Deductions $ 2,4 [cont.]
Answered by Mark Pfeiffer - Tue Sep 5 13:04:22 2006
Q. Can you guys list different income tax benefits that I can claim from my house payments? How can I deduct that from taxable income? All formulaes for calculating taxes are welcome.
Asked by curious - Tue Sep 5 12:54:53 2006 - - 3 Answers - 0 Comments
A. Hello, I recommend checking with your CPA, but the following is an example of the tax benefits for homeownership. John & Jane Homebuyer purchase a home costing $150,000, and pay property taxes of $3,000 per year. Some deductions previously not used due to taking standard deduction may now be available. Example charitable donations True effect can be seen by comparing tax effects: Adjusted Gross Income Standard Deduction $ 125,000 Itemized Deductions$ 125,000 Deduction Standard Deduction (10,000) Itemized Deductions(15,527) Income Tax Standard Deduction 20,480 Itemized Deductions19,098 Withholding Standard Deduction (21,500) Itemized Deductions (21,500) Refund/(Amount Due) Standard Deduction $ 1,020 Itemized Deductions $ 2,4 [cont.]
Answered by Mark Pfeiffer - Tue Sep 5 13:04:22 2006
Any tax benefits to reinvesting your dividends from mutual funds?
Q. I have a few mutual funds with fidelity which distribute dividends once a year. By default all the dividends are reinvested back into the funds. I would rather have the dividends in cash so I can invest into different funds. Is there any tax benefits to having the dividends reinvested instead of just taking the dividend in cash? Thanks
Asked by jhcashman - Tue Apr 22 12:05:40 2008 - - 3 Answers - 0 Comments
A. You pay tax on the amount either way, so no there's no tax benefits in reinvesting. Keep track of the amounts of the reinvested dividends though, since you'll be able to add them to your basis when you sell the fund shares - you've already paid the tax, so you don't have to pay it again on that amount.
Answered by Judy - Tue Apr 22 12:35:35 2008
Q. I have a few mutual funds with fidelity which distribute dividends once a year. By default all the dividends are reinvested back into the funds. I would rather have the dividends in cash so I can invest into different funds. Is there any tax benefits to having the dividends reinvested instead of just taking the dividend in cash? Thanks
Asked by jhcashman - Tue Apr 22 12:05:40 2008 - - 3 Answers - 0 Comments
A. You pay tax on the amount either way, so no there's no tax benefits in reinvesting. Keep track of the amounts of the reinvested dividends though, since you'll be able to add them to your basis when you sell the fund shares - you've already paid the tax, so you don't have to pay it again on that amount.
Answered by Judy - Tue Apr 22 12:35:35 2008
How does one transfer tax benefits from a home owner to a rent-to -won tenent?
Q. I am getting into a rent-to-own lease covering the entire mortgage. What is the best way for the home owner to transfer the tax benefits to me?
Asked by Ron - Thu Apr 26 17:43:01 2007 - - 3 Answers - 0 Comments
A. I'm a Realtor in AZ and if you are renting and not actually owning yet I don't believe there is any tax advatange to be transfered. Your best bet is to check with an attorney or tax professional in your state.
Answered by vinster82 - Thu Apr 26 17:52:53 2007
Q. I am getting into a rent-to-own lease covering the entire mortgage. What is the best way for the home owner to transfer the tax benefits to me?
Asked by Ron - Thu Apr 26 17:43:01 2007 - - 3 Answers - 0 Comments
A. I'm a Realtor in AZ and if you are renting and not actually owning yet I don't believe there is any tax advatange to be transfered. Your best bet is to check with an attorney or tax professional in your state.
Answered by vinster82 - Thu Apr 26 17:52:53 2007
Hey accountants, do you have information about any tax benefits to buying a hybrid american automobile?
Q. I am considering buying a new hybrid Chevy Malibu, when they become available in the spring. Do you have any information about what the 2008 federal and state (Ohio) benefits may be, if any, to buying a hybrid vehicle. If there are could you direct me to any website or link for more information. When spending that amount of money everything figures into a purchase and we were curious about the tax benefits if any to buying energy aware.
Asked by koalatcomics - Sun Dec 9 09:24:37 2007 - - 3 Answers - 1 Comments
A. The Malibu qualifies for a $1,300 credit at present. Compare that to your increased cost and adjust for any projected fuel savings. In most cases you'll probably discover that the modest savings are not worth the added expense. Also bear in mind that the credit cannot reduce your tax liability to less than zero as it is not a refundable credit. Here's a link to the site:
Answered by Bostonian In MO - Sun Dec 9 11:22:35 2007
Q. I am considering buying a new hybrid Chevy Malibu, when they become available in the spring. Do you have any information about what the 2008 federal and state (Ohio) benefits may be, if any, to buying a hybrid vehicle. If there are could you direct me to any website or link for more information. When spending that amount of money everything figures into a purchase and we were curious about the tax benefits if any to buying energy aware.
Asked by koalatcomics - Sun Dec 9 09:24:37 2007 - - 3 Answers - 1 Comments
A. The Malibu qualifies for a $1,300 credit at present. Compare that to your increased cost and adjust for any projected fuel savings. In most cases you'll probably discover that the modest savings are not worth the added expense. Also bear in mind that the credit cannot reduce your tax liability to less than zero as it is not a refundable credit. Here's a link to the site:
Answered by Bostonian In MO - Sun Dec 9 11:22:35 2007
Why are there are so many tax benefits for people who invest in real estate and entrepreneurship?
Q. Why are there are so many tax benefits for people who invest in real estate and entrepreneurship and so few benefits for corporate employees? In the United States
Asked by Lala - Tue Aug 21 12:13:26 2007 - - 3 Answers - 1 Comments
A. The government encourages home ownership or entrepreneurship to stimulates the economy. Home ownerships will promotes business in various fields such as real estate, bankings, builders, renovation contractors, materials supplies, logistics etc which also create healthy job markets. So as entrepreneurship, which also relates to other job fields and eventually boost the economy with lower unemployment rates. With an active real estate will also form an active communities, with schools, retailers and many other service providers.
Answered by Ai_22192 - Tue Aug 21 12:44:42 2007
Q. Why are there are so many tax benefits for people who invest in real estate and entrepreneurship and so few benefits for corporate employees? In the United States
Asked by Lala - Tue Aug 21 12:13:26 2007 - - 3 Answers - 1 Comments
A. The government encourages home ownership or entrepreneurship to stimulates the economy. Home ownerships will promotes business in various fields such as real estate, bankings, builders, renovation contractors, materials supplies, logistics etc which also create healthy job markets. So as entrepreneurship, which also relates to other job fields and eventually boost the economy with lower unemployment rates. With an active real estate will also form an active communities, with schools, retailers and many other service providers.
Answered by Ai_22192 - Tue Aug 21 12:44:42 2007
Can I claim Tax benefits on Home Loan more than once?
Q. I have taken a home loan for which I am claiming Tax benefits. I intend to purchase another house with a new loan (after paying off the existing one). Will I be able to claim Tax benefits on the second loan as well?
Asked by Hero Hiralal - Wed Mar 19 15:53:42 2008 - - 4 Answers - 0 Comments
A. Yes, you can claim the benifits on the 2nd house also. Or you can keep both the houses and claim deduction on both the houses.Subject to Maximim limits allowed 1) Interest on self occupied house= Rs.1.5 lakhs maximum. 2) Interest on the house given on rent: Any amount of interest can be claimed as deduction 3) Both the above interests are separate for the purpose of taxation. Both of them can be claimed individually (separate separately). Say, if the interest paid on self occupied house home loan is 2 lakhs (maximum allowed is only 1.5 lakhs) and the interest paid on the house given on rent is Rs.3 lakhs. Then you can claim both 1.5+3=4.5 lakhs. 4) The deduction u/s 80c, the repayment of loan amount either on the self occupied or… [cont.]
Answered by N.J.Reddy - Thu Mar 20 01:08:41 2008
Q. I have taken a home loan for which I am claiming Tax benefits. I intend to purchase another house with a new loan (after paying off the existing one). Will I be able to claim Tax benefits on the second loan as well?
Asked by Hero Hiralal - Wed Mar 19 15:53:42 2008 - - 4 Answers - 0 Comments
A. Yes, you can claim the benifits on the 2nd house also. Or you can keep both the houses and claim deduction on both the houses.Subject to Maximim limits allowed 1) Interest on self occupied house= Rs.1.5 lakhs maximum. 2) Interest on the house given on rent: Any amount of interest can be claimed as deduction 3) Both the above interests are separate for the purpose of taxation. Both of them can be claimed individually (separate separately). Say, if the interest paid on self occupied house home loan is 2 lakhs (maximum allowed is only 1.5 lakhs) and the interest paid on the house given on rent is Rs.3 lakhs. Then you can claim both 1.5+3=4.5 lakhs. 4) The deduction u/s 80c, the repayment of loan amount either on the self occupied or… [cont.]
Answered by N.J.Reddy - Thu Mar 20 01:08:41 2008
What are the tax benefits of different IRA's?
Q. I am just starting out in my career (26 years old). My company does not offer any retirement or 401k plans. I just did my taxes and realized I can get an extra $925 back on my refund if I contribute $3500 to a traditional IRA. I have decided I can afford to and should make this size contribution for last year to some sort of IRA. Should I contribute to the roth ira and get the tax benefit when I retire or the traditional IRA and get the benefit now?
Asked by jennifer - Mon Jan 30 13:43:51 2006 - - 1 Answers - 1 Comments
A. It was explained to me that in the end the Roth is better you won't be taxed when you withdraw at retirement which will be worth a lot more than the benefit you get now for a tradional. Of course you have to do what works best for you and your financial situation. I would get started right away with which ever you do, it truly is never too early to start saving for retirement especially with SS up in the air.
Answered by Courtney - Mon Jan 30 13:53:13 2006
Q. I am just starting out in my career (26 years old). My company does not offer any retirement or 401k plans. I just did my taxes and realized I can get an extra $925 back on my refund if I contribute $3500 to a traditional IRA. I have decided I can afford to and should make this size contribution for last year to some sort of IRA. Should I contribute to the roth ira and get the tax benefit when I retire or the traditional IRA and get the benefit now?
Asked by jennifer - Mon Jan 30 13:43:51 2006 - - 1 Answers - 1 Comments
A. It was explained to me that in the end the Roth is better you won't be taxed when you withdraw at retirement which will be worth a lot more than the benefit you get now for a tradional. Of course you have to do what works best for you and your financial situation. I would get started right away with which ever you do, it truly is never too early to start saving for retirement especially with SS up in the air.
Answered by Courtney - Mon Jan 30 13:53:13 2006
Are there tax benefits for online school?
Q. I know there are some benefits to being a student come tax time, but I'm not clear on what they are. I'm going to school online (it's an accredited program) and was wondering if there were any deductions I should know about. I will have a professional do my taxes, but I was just curious if the cost of "tuition" and the need to buy a computer for doing this program were possibly deductible. I did not have a computer before taking these classes. I bought it specifically for the program. Would that make a difference?
Asked by rubychasm - Tue Jan 19 14:38:57 2010 - - 4 Answers - 0 Comments
A. You might be eligible for an education credit for some of the tuition and fees. If you get the American Opportunity credit, any required books are also eligible expenses. For the computer, no unless you are required to buy that particular computer from the school as a condition of taking the class.
Answered by Judy - Tue Jan 19 15:04:12 2010
Q. I know there are some benefits to being a student come tax time, but I'm not clear on what they are. I'm going to school online (it's an accredited program) and was wondering if there were any deductions I should know about. I will have a professional do my taxes, but I was just curious if the cost of "tuition" and the need to buy a computer for doing this program were possibly deductible. I did not have a computer before taking these classes. I bought it specifically for the program. Would that make a difference?
Asked by rubychasm - Tue Jan 19 14:38:57 2010 - - 4 Answers - 0 Comments
A. You might be eligible for an education credit for some of the tuition and fees. If you get the American Opportunity credit, any required books are also eligible expenses. For the computer, no unless you are required to buy that particular computer from the school as a condition of taking the class.
Answered by Judy - Tue Jan 19 15:04:12 2010
Dad buying new home and making me owner for tax benefits BUT I need to get house loan?
Q. My father and Uncle are jointly buying a secondary property. Both already have a primary residence, so they want my cousin and I to be joint owners of the house. I'm single and currently not a house owner, last year I paid over $25,000 in taxes so the savings for me could be substantial (also for cousin). The intent is that my cousin and I will buy the house (but all money coming from parents). Unfortunately, my uncle just informed me that my cousin and I are the ones who need to get the house loan in order for us to claim deductions on next year's taxes. I had a few questions on which I would like some input from you guys: 1) Can there be a joint-owner of a primary residential property AND both of us able to deduct mortgage from taxes? [cont.]
Asked by simfox3 - Sun May 20 22:11:01 2007 - - 7 Answers - 0 Comments
A. (1) The joint ownership would be you and your cousin. You and your cousin would be entitled to the tax deductions on the property. (2)You can not receive tax benefits on property you aren't buying. If you do not sign the loan then you are not buying. Most people think that they are buying a house when in fact what they are doing is getting a mortgage from a lender that holds the house. It is like buying a car, until the car is totally paid and you receive the pink slip it really is not yours. The car can be repossesed at any time for failure to pay because it belongs to the lender. (3) If you want to buy your own house later it will appear to everyone that the house your dad and uncle had you buy is yours. You will face the secondary… [cont.]
Answered by Andrew R - Mon May 21 02:02:23 2007
Q. My father and Uncle are jointly buying a secondary property. Both already have a primary residence, so they want my cousin and I to be joint owners of the house. I'm single and currently not a house owner, last year I paid over $25,000 in taxes so the savings for me could be substantial (also for cousin). The intent is that my cousin and I will buy the house (but all money coming from parents). Unfortunately, my uncle just informed me that my cousin and I are the ones who need to get the house loan in order for us to claim deductions on next year's taxes. I had a few questions on which I would like some input from you guys: 1) Can there be a joint-owner of a primary residential property AND both of us able to deduct mortgage from taxes? [cont.]
Asked by simfox3 - Sun May 20 22:11:01 2007 - - 7 Answers - 0 Comments
A. (1) The joint ownership would be you and your cousin. You and your cousin would be entitled to the tax deductions on the property. (2)You can not receive tax benefits on property you aren't buying. If you do not sign the loan then you are not buying. Most people think that they are buying a house when in fact what they are doing is getting a mortgage from a lender that holds the house. It is like buying a car, until the car is totally paid and you receive the pink slip it really is not yours. The car can be repossesed at any time for failure to pay because it belongs to the lender. (3) If you want to buy your own house later it will appear to everyone that the house your dad and uncle had you buy is yours. You will face the secondary… [cont.]
Answered by Andrew R - Mon May 21 02:02:23 2007
In partnership, is it better to hire someone as a contractor or fulltime employee for tax benefits?
Q. Me and my partner has small business. Our friend appying for a job.. is it beeter for tax benefits to hire my friend as a contractor or fulltime/parttime employee?
Asked by pinaytechie - Mon Oct 6 12:20:13 2008 - - 3 Answers - 0 Comments
Q. Me and my partner has small business. Our friend appying for a job.. is it beeter for tax benefits to hire my friend as a contractor or fulltime/parttime employee?
Asked by pinaytechie - Mon Oct 6 12:20:13 2008 - - 3 Answers - 0 Comments
How to register company in Andhra Pradesh , India. for IT business and better Tax benefits?
Q. Hi All, I would like to register company in Andhra Pradesh , India. This new company will be doing business in Information Technology area. And it will be child or sister concern company for USA based company. Could any one give us detailed procedures on how to register company and different types of companies and different tax structures and where is the best location in Andhra Predesh to get more tax benefits? And kind of help is greatly appreciated. Anil
Asked by PropertyTax357 - Tue Jan 22 17:08:40 2008 - - 2 Answers - 0 Comments
A. assistance is extended through hassle free single window system. visit WEB sites of AP Govt., RBI, GOI/MF. nasscom, Chamber of Commerce will also be assisting you. There are agencies who assist in this case. Visit Yellow page. Employ 3 people (1) Lawer, C.A and Company Secretary, without fail. The expenses are nominal.Job is very simple - you will have red carpet receipt ion. best of luck
Answered by Swaminathan P - Tue Jan 22 18:33:30 2008
Q. Hi All, I would like to register company in Andhra Pradesh , India. This new company will be doing business in Information Technology area. And it will be child or sister concern company for USA based company. Could any one give us detailed procedures on how to register company and different types of companies and different tax structures and where is the best location in Andhra Predesh to get more tax benefits? And kind of help is greatly appreciated. Anil
Asked by PropertyTax357 - Tue Jan 22 17:08:40 2008 - - 2 Answers - 0 Comments
A. assistance is extended through hassle free single window system. visit WEB sites of AP Govt., RBI, GOI/MF. nasscom, Chamber of Commerce will also be assisting you. There are agencies who assist in this case. Visit Yellow page. Employ 3 people (1) Lawer, C.A and Company Secretary, without fail. The expenses are nominal.Job is very simple - you will have red carpet receipt ion. best of luck
Answered by Swaminathan P - Tue Jan 22 18:33:30 2008
What are the tax benefits of being debt free (mortgage)?
Q. We have 2 children and will be debt free by the end of March. What are the tax benefits. For example, mortgage write off verses increased taxes. Looking for some informtation.
Asked by whale2216 - Tue Feb 28 21:14:16 2006 - - 2 Answers - 0 Comments
A. Too many people confuse the tax deductability of mortgage interest with being a huge benefit that one should keep. You are always, always, **always** better off not to pay the interest in the first place, whether it is tax deductable or not. Many people also ignore the fact that if you don't itemize, you still get the standard deduction even if you don't have a mortgage. This new standardized deduction will replace your itemized deduction making the loss of the deduction that much less noticable. So do it, and congratulations!
Answered by brunt - Fri Mar 3 13:29:50 2006
Q. We have 2 children and will be debt free by the end of March. What are the tax benefits. For example, mortgage write off verses increased taxes. Looking for some informtation.
Asked by whale2216 - Tue Feb 28 21:14:16 2006 - - 2 Answers - 0 Comments
A. Too many people confuse the tax deductability of mortgage interest with being a huge benefit that one should keep. You are always, always, **always** better off not to pay the interest in the first place, whether it is tax deductable or not. Many people also ignore the fact that if you don't itemize, you still get the standard deduction even if you don't have a mortgage. This new standardized deduction will replace your itemized deduction making the loss of the deduction that much less noticable. So do it, and congratulations!
Answered by brunt - Fri Mar 3 13:29:50 2006
I am planning on getting married here in Chicago IL question about tax benefits?
Q. I heard married couples get tax benefits? If we got married next year in Jan as we have planned for over a year could we get some kind of Tax Break this coming tax season?
Asked by neo_drkefka - Wed Sep 16 04:08:37 2009 - - 7 Answers - 0 Comments
A. What do you mean by tax benefits? If you mean a higher standard deduction and 2 personal exemptions yes. If you get married in January of 2010 then you will have to wait till 2011 when you file your 2010 tax return to file as Joint. If you want to file as Joint on your 2009 tax return, then you will need to be married by December 31st 11:59pm for it to count. HR Block -- Tax Advisor -- over 5 years experience
Answered by genskitty - Wed Sep 16 04:29:38 2009
Q. I heard married couples get tax benefits? If we got married next year in Jan as we have planned for over a year could we get some kind of Tax Break this coming tax season?
Asked by neo_drkefka - Wed Sep 16 04:08:37 2009 - - 7 Answers - 0 Comments
A. What do you mean by tax benefits? If you mean a higher standard deduction and 2 personal exemptions yes. If you get married in January of 2010 then you will have to wait till 2011 when you file your 2010 tax return to file as Joint. If you want to file as Joint on your 2009 tax return, then you will need to be married by December 31st 11:59pm for it to count. HR Block -- Tax Advisor -- over 5 years experience
Answered by genskitty - Wed Sep 16 04:29:38 2009
Can tax benefits be availed with Apollo Munich s Maxima plan?
Q. I have Apollo Munich s maxima plan. Can I avail tax benefits or not? Are tax benefits available only with basic plan? Please guide me ..
Asked by Aman - Tue Jun 29 01:31:00 2010 - - 2 Answers - 0 Comments
A. No, it does not give you tax benefits it is a health insurance! BTW this is travel germany section and not personal finance
Answered by Alex M - Tue Jun 29 08:18:43 2010
Q. I have Apollo Munich s maxima plan. Can I avail tax benefits or not? Are tax benefits available only with basic plan? Please guide me ..
Asked by Aman - Tue Jun 29 01:31:00 2010 - - 2 Answers - 0 Comments
A. No, it does not give you tax benefits it is a health insurance! BTW this is travel germany section and not personal finance
Answered by Alex M - Tue Jun 29 08:18:43 2010
Britons: The Tory government propose tax benefits to 'stay at home' parents ie the lower earner?
Q. The Tories propose tax benefits to married couples, which they believe will encourage the lower earner within the household (normally the woman) to stay at home whilst the children are below school age. What do you think about this?
Asked by Vix - Wed Jan 6 18:53:30 2010 - - 1 Answers - 0 Comments
A. its a lot of BS they are just making these election promises to pull in working class voters.
Answered by Wiseguy - Thu Jan 7 21:34:03 2010
Q. The Tories propose tax benefits to married couples, which they believe will encourage the lower earner within the household (normally the woman) to stay at home whilst the children are below school age. What do you think about this?
Asked by Vix - Wed Jan 6 18:53:30 2010 - - 1 Answers - 0 Comments
A. its a lot of BS they are just making these election promises to pull in working class voters.
Answered by Wiseguy - Thu Jan 7 21:34:03 2010
Who gets the tax benefits to owning a home?
Q. If there is a borrower and co-borrower on a mortgage...which person benefits from "home ownership" when doing taxes?
Asked by whoo hoo - Wed Jan 3 10:29:28 2007 - - 14 Answers - 0 Comments
A. Alaskan CPA, Rebecca Martin RLMCPA (talk|edits) said: 3 January 2006 Mortgage interest does not have to be in both party names. An "equitable owner" works too. See Saffet Uslu, et ux., TC Memo 1997-551. Interest paid on the taxpayer's indirect debt obligation combined with equitable and beneficial ownership of the residence may be deductible (Uslu). Here, taxpayers were unable to obtain a mortgage due to their poor credit rating. A related party obtained a mortgage and held title to the taxpayer's home. The taxpayer made all the mortgage payments and bore all economic responsibilities of owning the home, which was the primary residence. However, real estate taxes do require that each be legally obligated to pay the tax. Real estate… [cont.]
Answered by caveman - Wed Jan 3 21:07:26 2007
Q. If there is a borrower and co-borrower on a mortgage...which person benefits from "home ownership" when doing taxes?
Asked by whoo hoo - Wed Jan 3 10:29:28 2007 - - 14 Answers - 0 Comments
A. Alaskan CPA, Rebecca Martin RLMCPA (talk|edits) said: 3 January 2006 Mortgage interest does not have to be in both party names. An "equitable owner" works too. See Saffet Uslu, et ux., TC Memo 1997-551. Interest paid on the taxpayer's indirect debt obligation combined with equitable and beneficial ownership of the residence may be deductible (Uslu). Here, taxpayers were unable to obtain a mortgage due to their poor credit rating. A related party obtained a mortgage and held title to the taxpayer's home. The taxpayer made all the mortgage payments and bore all economic responsibilities of owning the home, which was the primary residence. However, real estate taxes do require that each be legally obligated to pay the tax. Real estate… [cont.]
Answered by caveman - Wed Jan 3 21:07:26 2007
Can we claim Housing Benefits and Council Tax Benefits?
Q. Hi, my boyfriend was made redundent in November and has been signing on I work full time but only get 11000 per year. Are we entitled to housing benefits and council tax benefits even if he is already getting job seekers? I am worried by trying to claim these he may lose his only income because don't these go straight off you rent and council tax with out you seing them. I'm confused can anyone shead any light?
Asked by Rachel B - Mon Mar 2 11:04:23 2009 - - 13 Answers - 0 Comments
A. hiya, yes you can get housing benefit/council tax.also you might be able to get income SUPPORT.go to CAB, they will tell you what you can get.
Answered by blackpool lass - Mon Mar 2 16:02:52 2009
Q. Hi, my boyfriend was made redundent in November and has been signing on I work full time but only get 11000 per year. Are we entitled to housing benefits and council tax benefits even if he is already getting job seekers? I am worried by trying to claim these he may lose his only income because don't these go straight off you rent and council tax with out you seing them. I'm confused can anyone shead any light?
Asked by Rachel B - Mon Mar 2 11:04:23 2009 - - 13 Answers - 0 Comments
A. hiya, yes you can get housing benefit/council tax.also you might be able to get income SUPPORT.go to CAB, they will tell you what you can get.
Answered by blackpool lass - Mon Mar 2 16:02:52 2009
do companies obtain any financial/tax benefits when having tuition reimbursment programs?
Q. My company does not have a tuition reimbursment program and I would like to convince my boss to pay for my studies. Is there any government financial/tax benefit for companies that offer tuition reimbursment?
Asked by Joe - Fri Dec 28 16:06:29 2007 - - 1 Answers - 0 Comments
A. Unfortunately not likely. Reimbursement programs are something firms offer as a recruiting incentive, usually in fields that are facing a real labor shortage, in which there is heavy competition for talent. It's possible that proposing your plans of study to your company's human resources department, specifying how your next degree would help the company could help. Think of it as an investment on their part. What would make them want to fund something you would possibly do with your own money? Good luck! I advise looking up guides to writing business proposals.
Answered by Jon R - Fri Dec 28 19:16:12 2007
Q. My company does not have a tuition reimbursment program and I would like to convince my boss to pay for my studies. Is there any government financial/tax benefit for companies that offer tuition reimbursment?
Asked by Joe - Fri Dec 28 16:06:29 2007 - - 1 Answers - 0 Comments
A. Unfortunately not likely. Reimbursement programs are something firms offer as a recruiting incentive, usually in fields that are facing a real labor shortage, in which there is heavy competition for talent. It's possible that proposing your plans of study to your company's human resources department, specifying how your next degree would help the company could help. Think of it as an investment on their part. What would make them want to fund something you would possibly do with your own money? Good luck! I advise looking up guides to writing business proposals.
Answered by Jon R - Fri Dec 28 19:16:12 2007
From Yahoo Answer Search: 'tax benefits'
Sat Jul 31 19:03:28 2010 [ refresh local cache ]
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dunnconnect.com
Sat, 10 Jul 2010 22:10:40 GMT+00:00
Dunn County News But realize that this is not a new tax . A sleight of hand and you will not get your school levy tax credit. What's that? Look at your real estate tax bill. ...
commuterclub.com
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Attend a free seminar on tax benefits to learn how your company and employees can save money Tax Brochure pdf or Contact Us for a hardcopy brochure
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