Deductible Points
March 1st, 2010
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Question: If mortgage points were paid by my employer and included in taxable income, is it still deductible on my taxes
Answer: You can never deduct anything you didn’t actually pay. Since this was an employer-provided benefit, it is INCOME, not a DEDUCTION. That’s why it is included on your W2.
Please don’t just take my word for it – get with a tax professional if you’re confused. Most will answer a question like this over the phone at no charge. Then you at least know who you’re talking to.
Items on Amazon Right Now for Deductible Points:
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What Your CPA Isn’t Telling You: Life-changing Tax Strategies $11.69 This is a powerful story woven around one theme—TAX PLANNING CAN CHANGE YOUR LIFE Tackling the fundamental question asked by all taxpayers – How can I save on taxes? — attorney and CPA Mark J. Kohler empowers you to dismiss standard CPA viewpoints like your tax payment is what it is and you just make too much money. Simplified through the mastery of storytelling, Kohler invites you to immers… |
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Lower Your Taxes – Big Time 2011-2012 4/E $9.18 Completely revised and updated—the must-have resource for saving thousands of dollars at tax time Taxes aren’t just a nuisance; they’re fast becoming the single biggest expense for the typical American household. Completely revised and expanded, Lower Your Taxes—Big Time! has everything taxpayers need to know about saving money on April 15—and every other day of the year. Sandy Botkin, a… |
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Make Your Life Tax Deductible: Easy Techniques to Reduce Your Taxes and Start Building Wealth Immediately $2.99 More than 150 deductions small business owners can implement to lower taxes and boost profits immediately If you are a small business owner, missing out on important deductions can mean receiving a tax bill that puts you deep into debt. In Make Your Life Tax Deductible, tax specialist David Meier presents quick and easy tips on understanding what deductions can be legally taken and implementing th… |
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Cobra SL3 GPS Speed and Red Light Camera Locator $12.99 The SL3 is a standalone GPS-enabled device that warns drivers to thousands of driving threats that include red light, speed cameras and caution areas. These driving threats could cause unintended traffic violations as well as accidents. The result, drivers have heightened situational awareness�extra help to know what�s around them, and what�s ahead. The SL3 GPS Safety Locator provides a s… |
Higher Education Might Not See Budget Cuts
Stumbo says House leaders now are hoping to restore money for higher education in both years.
Point Deduction Conference PART ONE (and why we have good grounds for appeal!)
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