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Is interest paid IRS on delinquent taxes deductible?
No, personal interest is never deductible, regardless of who it is paid to.
Are late payment penalties to a homeowners association tax deductible if the regular fees are deducted on Sch E?
No, for several reasons...the only reason the Assoc fees are deductible is because they are actually paid as a tax to a tax authority....the penalty is not. Just about anything that is a penalty of any type is NOT deductible. Getting a benefit from paying a penalty (doing a bad thing) is against public policy.
what is the rule for receiving tax deductible for medicare paid in for retirees filing jointly, under $13,000?
what is the rule for receiving tax deductible for medicare paid in for retirees filing jointly, under $13.000?
Can I deduct monies paid to settle a lawsuit?
Not deductible on your income tax return unless the amount paid was to produce taxable income that was reported on your income tax return. Then a limited amount could be deductible on your income tax return.
Whether TDS is deductible on donation paid?
No as per income tax act, there is no provision which say for deduction of tax on donation paid.
Does a deductible have to be paid each time you file a claim under homeowners insurance?
The deductible applies to every individual claim.
WHEN health insurance deductible?
WHEN WHEN when is health insurance deductible paid when? When?
Who is the deductible paid by?
The deductible in a person's health insurance policy is paid by the owner of the policy. This means that the person who purchases the policy is responsible for the deductible fees.
Is interest paid IRS on delinquent taxes deductible?
No, personal interest is never deductible, regardless of who it is paid to.
What must be paid each year by the policy holder before the insurance policy benefits begin?
Deductible
What term policy are often found in a mortgage insurance?
Typical term policies in mortgage insurance include terms on the homeowners out of pocket deductible before a claim can be paid out by an insurance company. Also it will often list what is covered and what is not. Flood insurance is not typically covered and costs extra.
Sal paid his annual homeowners insurance on January 10th. He eventually sells his property on March 27th. How will Sal's homeowners insurance be categorized on the settlement statement?
Sal paid his annual homeowners insurance on January 10th. He eventually sells his property on March 27th. How will Sal's homeowners insurance be categorized on the settlement statement? Sal will receive a credit for the homeowners insurance paid after March 27th. Sal will receive a debit for the homeowners insurance paid after March 27th. The buyer will receive a credit for the homeowners insurance paid after March 27th. The buyer will receive a debit for the homeowners insurance paid after March 27th.
Are late payment penalties to a homeowners association tax deductible if the regular fees are deducted on Sch E?
No, for several reasons...the only reason the Assoc fees are deductible is because they are actually paid as a tax to a tax authority....the penalty is not. Just about anything that is a penalty of any type is NOT deductible. Getting a benefit from paying a penalty (doing a bad thing) is against public policy.
Should a deductible be paid for husbands parked car that was hit by wifes car as she was backing up?
Any time there's a claim which will be paid by the Insurance co, a deductible is paid by the insured.
What is a Deductible for medical insurance?
A deductible is the amount that the policy holder must pay before any benefits are covered under the plan. Some plans do cover some limited services prior to the deductible being paid, or they may not cover any. It is important to know what your deductible amount is, before you purchase a policy, to make sure that you can truly afford it in the event you need medical services.
Is it insurance fraud if you pay someone's deductible?
Yes in some states it is considered fraud and illegal. Texas is one state. As a contractor if I turn in a final bill to an insurance company and it states that I paid the homeowners deductible, portion of deductible or gave them a sign allowance for putting a sign in their yard ( this is thought of as a clever way to hide the payment of the deductible), the insurance company will reduce the final payment by that amount. If you leave it off of the invoice it does not honestly show the expenses.
Deductibles need to be paid all at once?
Most insurance companies for auto insurance have requirements for the insured to pay a deductible when the vehicle in question is done being fixed. The deductible is paid as part of the repair bill. Some auto repair businesses ask for a down payment before work is to begin. A deductible for medical expenses is paid throughout the year as a person spends money, out of pocket, for medical services.
