The IRS Deductions Blog

Archive for the ‘Tax Deductable Fees’ Category

Items on Amazon Right Now for Tax Deductible Attorney Fees:

“CPA To Handle Audit” Need A CPA To Handle IRS Tax Audit?

Items on Amazon Right Now for Appraisal Fee Tax Deductible:

The 700 Club – August 2, 2011- CBN.com

Items on Amazon Right Now for Deductible Professional Fees:

Candid Answers: What are some of the tips to buying a single/multi-family house

Question: 2009 Motorcycle Tax Credit without income?

I plan on buying a new motorcycle before the deadline for tax-deduction off the purchase. I am a college student and have enough for a cash purchase. My question is, how would the tax credit work for me since I have no income besides my financial aid reimbursements? Would I receive a check in the mail or would this credit remain with me for whenever there’s a fed. tax fee of some sort?
Bummer…Won’t help me then, thank you for your help everyone, I been pondering the question for months already. Guess if I buy I shouldn’t even consider tax deduction as a perk.

Answer: Motorcycles and cars qualify for a one-time above-the-line adjustment for the sales tax paid if bought between Feb 17, 2009 and Dec 31, 2009. The same qualifications apply for cars and motorcycles as to price, GVWR, and income limits. This adjustment reduces your AGI and therefore your taxable income and tax.

There is also a 10% (max $2,500) non-refundable credit for street-legal electric motorcycles purchased by Dec 31, 2011. A credit reduces your tax dollar-for-dollar. Since it’s non-refundable it’s limited to your tax liability.

Neither of these would benefit you since you have no income, owe no tax, and are not required to file a return. Nor is there any carry-over provision for either of these tax benefits. Sorry.

Items on Amazon Right Now for Tax Deduction Financial Planning Fees:

Shaw Announces Third Quarter Financial and Operating Results

CALGARY, ALBERTA–(Marketwire – June 29, 2011) – Shaw Communications Inc. (TSX:SJR.B) (NYSE:SJR) announced results for the third quarter ended May 31, 2011. Consolidated revenue for the quarter and year-to-date of $1.28 billion and $3.56 billion, respectively, was up 36% and 28% over the comparable periods last year. Total operating income before amortization(1) of $580 million and $1.55 billion …

Certified Tax Coach – The Unconventional Procrastinators Guide to Reducing Taxes & Fees

Question: can i put my attorney fees for bankruptcy under deductions and adjustments on my taxes?

Answer: I don’t think so.

Items on Amazon Right Now for Tax Deduction Attorney Fees:

Got Debt?! Your Home Equity Can Help

Are your credit card bills keeping you up at night? If you are a homeowner with some equity, a home equity loan to consolidate your debt could be a savvy move to get you on firm financial footing again.

How Attorney Fees Can Lower Your Tax Bill