Q&A
Asked by an anonymous user
Answered by Danielle Kunkle
Vice President
Yes your Medicare insurance premiums can be included as part of the medical expense deduction, but just remember your eligibility depends on earnings and spending. You...
Q&A
Asked by an anonymous user
Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
Hi Anonymously. Can you elaborate on "no shares involved" and why "taxes were paid on the amount"? With a stock split (also reverse split) itself, taxes are genera...
Q&A
Asked by Shirley
Answered by Roslyn Lash, AFC
Financial Counselor
It's possible only if they are business related. The purpose for your trip must NOT be for vacation but must be for business. Consult your tax advisor.
Q&A
Asked by scottytheone1973
Q&A
Asked by listlej
Answered by Jeffrey Schneider
Tax Professional
The down payment is not a deduction, same for any business asset. However, the cost of the asset multiplied by the business usage. However, if you do not use the car ...
Q&A
Asked by gariths626
Answered by MoneyTips Writing Staff
Financial Adviser in Los Angeles, CA
Determining whom you can claim as a dependent can be tricky. Here's an IRS website that should help.
Q&A
Asked by an anonymous user
Answered by David Skow
Mortgage Professional in Seattle , WA
As long as the HELOC is in the first mortgage position you should be able to write off the interest, but double check with a CPA or accountant for your specific situat...
Q&A
Asked by Dbrunman
Answered by Michael Karu
CPA/CFF/CGMA in Livingston, NJ
For 2017, the standard deduction for a couple with the filing status of Married Filing Jointly is $12,700. For each person aged 65 or older, there is an additional $1...
Q&A
Asked by cavener
Answered by Jeffrey Schneider
Tax Professional
Your age is not relevant. you may deduct gambling losses only if you itemize your deductions on Form 1040, Schedule A and kept a record of your winnings and losses. Th...
Q&A
Asked by Alan
Answered by Michael Karu
CPA/CFF/CGMA in Livingston, NJ
For the most part, they go into effect for tax years beginning on or after January 1, 2018. One notable difference is that alimony paid or received under divorce sett...
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