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Q: How does the deductible work in excess of loss reinsurance?
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Is homeowner's deductible paid before work commences?

The company doing the work may require you to pay the deductible amount before they start doing the job.


Can you claim gas to work on your income tax?

No. Commuting is a non-deductible personal expense. If you use your car for your job, such as running errands or driving between job sites during your work day, those miles may be deductible.


What could be considered a tax deductible?

There are many different types of tax deductibles. Some tax deductible things include apartment rent, charity donations, work supplies, and property taxes.


Are union dues tax deductible?

Yes Union Dues are deductible only if you itemize your deductions on Schedule A of the 1040 Form of the Federal Income taxes. You union dues will go in the Job Expenses section of this form along with any specialized clothing and boots and such that you are not reimbursed for by your employer. This is only if these items are not suitable for wearing any where else. For instance, blue jeans worn to work would not be deductible but uniforms with the employers logo and or your name on them would be deductible.


Can you claim clothing as a deduction on your income taxes?

Only if the clothing is required by your employer and is the type of clothing that could not ordinarily be worn outside of work. For example, a navy blue business suit is not deductible even if you would never wear a suit outside of work. An orange suit jacket that says "Parking" on the back would be deductible even if you wear it at home.

Related questions

How does the deductible work?

Your deductible is the portion of the loss that you are responsible for paying yourself.


How does your deductible work in home insurance?

The amount of a policy deductible on a homeowners insurance policy is chosen by the policyholder. Your policy deductible is the amount you are responsible for paying before the insurance company will payout for a claim. If you experience a loss to your dwelling or your personal property, your homeowners insurance policy deductible applies. The deductible does not apply to other coverages on the policy. If you experience a loss under your deductible, you will not be eligible for a payout. If your loss exceeds your deductible, your deductible will be deducted from your claims payout check.


Is volunteer work in a Hospital tax deductible?

Volunteer work is not deductible. Otherwise, I would not owe any tax!


Is homeowner's deductible paid before work commences?

The company doing the work may require you to pay the deductible amount before they start doing the job.


If you ride the bus to work each day can you writ it off on your taxes?

No you cannot. The trip to and from your primary work location is not tax deductible. Any additional trips from work to other work-related locations are tax-deductible.


If you hit a parked car and the damage is over your deductible how does that work?

If you hit a parked car, the deductible applies to your vehicle, not the parked car. The other vehicle is covered by your liability coverage and there is no deductible attached. You pay the deductible on the repairs to your vehicle, usually to the shop after the work is completed, the insurance company handles the balance directly.


Can you switch your deductible to 100 before repairs then back to 1000 after the work is done?

Is this what we would call in the UK 'voluntary excess' on an insurance policy? Your insurance company may allow you to change your excess mid-term but you will probably have to pay an 'additional premium' as you will most likely have received a discount when you took the insurance policy out for choosing a higher excess in the first place. Your insurer may get suspicious if you do this then immediately make a claim or they discover that an accident for which you are making a claim took place before you requested a change in your excess. This may result in your claim being rejected. Carefully consider the excess or deductible when you choose your insurance policy. If you choose a higher excess at the start to obtain a discount on your policy then you should be prepared to pay out in the event of a claim. CQ


How does home owners deductible insurance work?

I assume you mean how does the deductible work. When you file a claim on any insurance, the insurance company will take out the deductible before it issues the payment to you. In many states the banks are protected and the check has to be made out to you and the mortgagee company.


Are you responsible for paying the deductible if the accident was in a work vehicle?

only if it was your fault


What are weight loss drops and how do they work?

They are drops that help you drop those stubborn pounds that you want to lose, but you cant find a way to get rid of that excess fat, and get in your best shape.


Can you claim gas to work on your income tax?

No. Commuting is a non-deductible personal expense. If you use your car for your job, such as running errands or driving between job sites during your work day, those miles may be deductible.


Can you void the contract before any work begins if you can't pay the deductible on your roof repair?

Yes, The work has not started. But you can make a deal with your roofer where he says you paid him the deductible but he just took the insurance money as cost for the repair.