The IRS Deductions Blog » expenses

Deductible Vat

admin — Thu, 11 Aug 2011 20:21:33 +0000

Question: Importing nutritional supplements into UK from USA?What is the best way in regards to duty and vat? I am going to be a distributor of nutritional supplements and need to know the most efficient way to do this. If I order $5000 worth from the US, do I have to pay VAT twice [...]

Deductible Vat is a post from: The IRS Deductions Blog

Tax Deductible Expenses

admin — Tue, 26 Apr 2011 22:36:28 +0000

Question: Are medical expenses tax deductible if paid through a flexible spending account?Answer: No – because a flexible spending account is supposed to be money deducted from your paycheck BEFORE Tax Deductions. So you did not pay income tax on that money – thereby, you can not use that money as a deduction. Unless your FSA [...]

Tax Deductible Expenses is a post from: The IRS Deductions Blog

Tax Deductible Medical Expenses

admin — Tue, 15 Mar 2011 23:32:15 +0000

Question: Are reiki healings tax deductible?Reiki is a form of spiritual practice used as a complementary therapy for the treatment of physical, emotional, and mental diseases. Could this be included in the Deductible Medical expenses (that are over 7.5% of the AGI)? Why won’t it meet IRS requirements? What specific IRS requirement won’t it [...]

Tax Deductible Medical Expenses is a post from: The IRS Deductions Blog

Tax Deductible Moving Expenses Canada

admin — Thu, 27 Jan 2011 06:35:20 +0000

Question: Work at home – need to register with CRA?I recently moved to Canada, doing work at home – Excel Based financial modeling. Orders are received from abroad (my home country) by e-mail. My total income is around 19,000 CAD, almost no Deductible Expenses. I am about to file a tax return for 2007. Question: Was I [...]

Tax Deductible Moving Expenses Canada is a post from: The IRS Deductions Blog

Deductible Expenses Canada

admin — Tue, 14 Dec 2010 20:13:09 +0000

Question: Are condo fees tax deductible in Canada?If someone owns a condo as an investment property and rents it out, are condo fees a tax deductible expense?Answer: It is fully deductible along with all of your other costs associated with owning a rental property.Items on Amazon Right Now for Deductible Expenses Canada:Every Landlord’s Tax Deduction [...]

Deductible Expenses Canada is a post from: The IRS Deductions Blog

Tax Deductible Expenses Canada

admin — Mon, 08 Nov 2010 18:35:37 +0000

Question: In Canada, is international volunteer work tax deductible like in the US?I’m looking at volunteering next year in Cambodia or Tanzania and the organization I’m currently reading about claims that all volunteer expenses (including airfare, accommodations, etc) are 100% tax deductible in the US. I’ve tried to find information online about Canada’s volunteer Tax [...]

Tax Deductible Expenses Canada is a post from: The IRS Deductions Blog

Tax Deduction Medical Expenses 2009

admin — Sat, 04 Sep 2010 19:38:31 +0000

Question: what were the medicare premiums in 2009 for both A and B?I’m preparing 2009 taxes for my father was was deceased in Jan 2010. He had many medical expenses in 2009, so I’m claiming them for deductions. In the grand paperwork shuffle, I cannot seem to find any paperwork denoting the premiums for [...]

Tax Deduction Medical Expenses 2009 is a post from: The IRS Deductions Blog

Expenses Deductible

admin — Wed, 21 Jul 2010 07:23:41 +0000

Question: What tax Deductible Expenses can I claim?I am thinking of registering a US LLC, although I’m a non-resident alien. Will I be able to claim expenses that are incurred in my home country when I file my returns next year? These expenses could be the following: 1. Medical expenses for myself 2. Rent of office space 3. Business [...]

Expenses Deductible is a post from: The IRS Deductions Blog

Not Deductible Business Expenses

admin — Mon, 05 Jul 2010 23:33:57 +0000

Question: Paid with Guaranteed Payments – can I deduct SE business expenses?I am getting paid as an independent contract in a business that I own a small portion of, and my K-1 reports this payment as Guaranteed Payments to Partner. I know the method of reporting is correct, but since I am filing as a [...]

Not Deductible Business Expenses is a post from: The IRS Deductions Blog

Tax Deductible Moving

admin — Sat, 17 Apr 2010 20:04:54 +0000

Question: Moving Expenses Tax Deductible?Are moving Expenses still tax deductible if I am relocating to a new city but for the same employer. The relo is 250 Miles away.Answer: They are deductable if you are not reimbursed for them.You will meet the distance test if your new workplace is at least 50 miles further from [...]

Tax Deductible Moving is a post from: The IRS Deductions Blog

2009 Deductible Medical Expenses

admin — Mon, 22 Mar 2010 22:18:41 +0000

Question: I can see the porn, but the prostitutes…?Tax Court Rules Prostitutes Aren’t Deductible Lawyer kept records, claimed visits as medical expense http://www.forbes.com/2009/09/15/tax-court-deductions-prostitutes-medical-expenses-personal-finance-hookers.html “The U.S. Tax Court ruled Monday that Brooklyn, N.Y. tax lawyer William G. Halby, 78, had no legal basis to deduct prostitutes and pornography as medical expenses on his federal tax returns. Judge Joseph Robert [...]

2009 Deductible Medical Expenses is a post from: The IRS Deductions Blog

Deductible Expenses

admin — Wed, 10 Feb 2010 16:10:48 +0000

Question: What sorts of medical expenses are tax deductible? Are therapy, prescriptions and dental deductible?I recently changed jobs and it is a smaller company. I am paying more and more medical expenses out of pocket and I need to know how I can claim them as deductions.Answer: Yes all of those are deductible. Just [...]

Deductible Expenses is a post from: The IRS Deductions Blog

Deductible Business Expenses Irs

admin — Sun, 10 Jan 2010 21:47:10 +0000

Question: Can I deduct the cost of vitamins, nutrition supplements, and alternative therapies from my Income Tax if…?…I am a professional speaker on the topic? I advocate the use of these lifestyles, therapies, and products for health, wellness, and slowing the aging process. I definitely practice what I preach. I use/do everything I recommend in [...]

Deductible Business Expenses Irs is a post from: The IRS Deductions Blog

Tax Deductible Training

admin — Sat, 02 Jan 2010 22:05:44 +0000

Taxes can be overwhelming which is why there is such a large market for tax preparation services. There are many different types of tax preparers and each title has certain requirements that must be maintained in order to establish its position. Below is a brief introduction to the different types of tax preparers available as [...]

Tax Deductible Training is a post from: The IRS Deductions Blog

List Deductible Business Expenses

admin — Thu, 03 Dec 2009 07:22:33 +0000

If you plan to buy a home or condo, you must have Home owner insurance. Not only does it protect your home investment, it is also a requirement when you buy a house and lot through mortgage. Home insurance is a protection given to your house in case it is damaged or needs repair. One effective way [...]

List Deductible Business Expenses is a post from: The IRS Deductions Blog

Tax Deductible Health Care

admin — Mon, 23 Nov 2009 22:58:34 +0000

Question: If McCain is elected I will loose 4,000 ayear, how about you?McCain advocates implementing 5000 tax health care credit, this will trigger employers to discontinue health benefits, since they will not be tax deductible. (cannot deduct the same expense twice) Currently I pay 300$ a month for my employer provided plan which [...]

Tax Deductible Health Care is a post from: The IRS Deductions Blog

Hsa Deductible Expenses

admin — Sat, 07 Nov 2009 00:16:57 +0000

Question: Can I deduct fertility treatment expenses if I used an FSA or HSA card?I know that fertility procedures are tax deductible. My wife and I tried IUI and motility tests for me. Virtually all of it was paid for with her tax free FSA card and my tax free HSA card. [...]

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Business Deductible Expenses

admin — Wed, 28 Oct 2009 18:01:45 +0000

Question: Does anybody know how to deduct business expenses peculiar to a specific partner in a Subchapter S?A Subchapter-S had three partners. the books are closed and taxes done for the Corp. Partner A has deductible business expenses which are uniquely his. There is a way to deduct this for a partnership [...]

Business Deductible Expenses is a post from: The IRS Deductions Blog

Deductible Ratio

admin — Wed, 30 Sep 2009 21:08:07 +0000

Question: what is a lipid evaluation charge on my cardiac med labs?I had my usual pre cardiologist visit labs. He had asked for three items. 1) lipid evaluation 2) AST SGOT 3) ALT SGPT When the charges came in there were four charges. Pretty nebulously annotated as usual: OUTPT LAB $22 OUTPT LAB $91 OUTPT LAB $21 OUTPT LAB $21 The lab [...]

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Deductible Moving Expenses

admin — Wed, 23 Sep 2009 15:17:58 +0000

Using plastic covers, old newspaper, and old clothes in various ways is one way of producing cheap movies supplies. Another way is looking for cheaper offers on certain weekdays. The prime requirement of those who are forced to shift frequently is the cost of moving. And the way a raft would do as good a [...]

Deductible Moving Expenses is a post from: The IRS Deductions Blog