The IRS Deductions Blog

Archive for May, 2008

Question: Has anyone else had a problem with Progressive Insurance?

So I got into a car accident. First they tell me that I have to take my car to a particular body shop, which I know they can’t do because it’s illegal. So when I choose the body shop I want to use, they give me a hard time about it. They say that the car probably won’t be ready on time. Well, the car was actually ready on time. But then I get hit with the bills. Since when do I have to pay any more than my deductible? Progressive put all aftermarket parts on my brand new car, and they cut corners. Come to find out from the body shop that Progressive actually knowingly decided to cut certain costs by not doing the necessary repairs to make my car the way it was. Then I find out that a lot of body shops in So. Cal. are having problems with Progressive, cutting corners, and not inspecting the vehicles when they’re done. Is any of this even legal?

Answer: It’s not just Progressive. The whole industry is doing it and the Cali legislature is letting them get away with it. I had the same problem with State Farm and a friend had it even worse with Farmers. AAA seems to be doing the best but you have to fight them also. Keep insisting and send a complaint letter to the state insurance board ( or something like that, forgot the name).

Items on Amazon Right Now for Legal Cost Deductible:

Eagle voters will decide on shopping complex in Tuesday vote

EAGLE, Colorado – Eagle River Station is a decision that’s been three years in the making. On Tuesday, Eagle voters will decide the fate of Eagle River Station – a controversial commercial/residential project that has been picked apart during hundreds of hours of public hearings and generated thousands of pages of analysis and comment. Proponents call the development a lifeline for Eagle’s …

MARIJUANA LAW REFORM PART 1 N.O.R.M.L.

Question: one of my friend wants to go to germany as a beautician.. itis through an agent,salay 4000 euro,what about tax

how much is deduction from the salary in germany, do we need to pay national insurance, or need a insurance (medical), any other tax need to pay for government like council, water , gas, electricity,garbage,sewage,television etc..please reply…is it compulsory to know the language…..please please reply…….

Answer: In what is related to taxes you can take a look at:

http://www.calculateyournetsalary.com

Items on Amazon Right Now for Insurance Agent Tax Deductions:

Summary of Facts

Prior to its bankruptcy, a Quebec-based manufacturer had hypothecated its claims and accounts receivable in favour of the Caisse populaire Desjardins de Montmagny. The Caisse populaire had registered its security and claimed to hold valid security interests.

RIGGING INSURANCE TO BENEFIT BOARD MEMBERS MAKING FANNIE AND FREDDIE TRICKED OUT

Question: Saving for son’s college using Roth instead of 529 or coverdell.?

I will be 60 when son starts college. Instead of 529, which must be used for college, I am thinking about opening a Roth IRA account and contribute to it with the intention of using the money for my son’s college. I am thinking that since both 529 and Roth are Not Tax Deductible, and both are non-taxable when withdrawn, they are equivalent with one exception. If my son does not go to college, I would not be able to withdraw the money tax free or without penalty from a 529. Not an issue with Roth since I will be more than 59 1/2 by than. One more thing: which account counts more towards grants and scholarship eligibilities?
THanks

Answer: As a professional tax preparer, I can advise you on the taxable parts. You are correct about the limits of the 529. If you have more than one child, a 529 in one child’s name will not have an effect on the grant eligibility of another child. If you only have one child, then there will be no real difference between whether the money is in your name or your child’s name. If your son works, money can also be put into a Roth IRA in his name up to the amount he earns. This includes earning an allowance for chores around the house. Then, he could use that money for any reason later as long as he doesn’t withdraw the earnings until he is 59 1/2. To determine which one is really right for your family, you should speak with a certified financial advisor. Feel free to contact me privately if you’d like a recommendation for a good advisor.

Items on Amazon Right Now for Tax Deductible Penalties:

4 steps to undo a Roth IRA conversion

Follow these helpful hints to correctly recharacterize your Roth to a traditional IRA.

Tax Law, Real Estate & Credit Tips : Paycheck Tax Deduction Estimate

Science has proved it time and again that laughter is the best medicine for having a healthy life. Even the doctors will have advised you that to stay away from them you will have to laugh your heart out. Laughter whether physical or mental is an absolute necessity for us and you can have it enough in the form of funny joke text messages.

Jokes and funny sayings in the form of funny chain text messages can bring on a smile on your lips that will stay on your face throughout the day. As they say smile is contagious and will spread in your circle. Therefore, to keep that zip or spring in your social circle it is better if you can read the funny SMS jokes and spread them in your circle.

As the technology has spread its wings so you do not even need to be physically present in your friend circle to tell these jokes. Type them in your cell phones message box and your humor might help in lightening up the atmosphere somewhere in your circle. These funny joke text messages are available on various websites where you can read them for your own joy.

If something is there that you feel like sharing then you can send them through SMS also. These SMS jokes are mostly in the form of one liner or two liners. A good message containing real humor will take the form of funny chain text message. It will spread from one mobile to the other.

When you are browsing online for the funny jokes or messages then it would be great if you can maintain a notepad or word file to store the funny SMS’s that you have really liked. At a later stage you can read them for your own fun and can also send them through the SMS.

Items on Amazon Right Now for Funny Tax Deductions:

Alexander: Consigning column nets comments

It’s funny how many women have commented about my attempt to consign some of my clothes recently at one of the local stores.

Jackson Hewitt Chicken

Question: Are monthly maintenance fees I pay in my condo tax deductible or not?

Answer: Monthly maintenance fees are not deductible unless you have put the property in to a rental status. You can, however expense the property tax on your schedule A, if you qualify to itemize your deductions.

Items on Amazon Right Now for Tax Deductible Maintenance:

Workforce making scholarships available

Students who will be graduating from high school in 2010 may be eligible for a $500 scholarship to attend a local community college.

Colorado Trail, 2008 (Watch in High Quality): JUC Trail Fun, Rigel’s Last Hike, 2007