New answers tagged tax-deduction
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Wash Sale - Selling RSU Shares Before Another RSU Vest
I have another batch of RSUs that are vesting in two weeks. If I sell the already vested RSUs today, would me acquiring another batch of RSUs in two weeks constitute a wash sale and prevent me from ...
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What are the financial benefits for a company to give out student scholarships?
Whenever a business spends money they don't have to, they do it for one the the following reasons:
It will reduce their taxes. While the tax break is always less than the expense reducing your taxes ...
- 116k
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How much tax return can I expect from a mortgage compared to standard deductible
According to the irs:
the standard deduction rises to $12,950 for 2022
You have to see if your itemized deductions exceed the $12,950.
Most people when they itemize use the following things:
State ...
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Should my wife claim our child as a dependent when filing her NY state income taxes if we both live in CT and I claim the kid on our CT and US taxes?
If you guys are filing taxes jointly, then you guys are jointly claiming the dependent on your joint tax return. It's not a case of "you claiming" or "her claiming" the dependent.
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Private health insurance in Germany
(I don't know about the specialties of Beamte, "only" about the private/statutory health insurance choices as they apply to freelancers/self-employed.
Is the private health insurance fully ...
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Can you get a tax write off for providing software to a not for profit?
TL;DR No, you can't.
No tax jurisdictions let you claim a tax rebate for your time.
Here is a reference for the specific case of the USA.
There are two reasons. First, if they did this for you, they ...
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Self-Employment: is equipment deductible as part of the home office deduction, or as a separate deduction?
Every separate item is deducted separately using its own depreciation schedule (or in case of small items as a misc expense or office supplies).
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Is this how you calculate how much you can deduct from itemized deduction for mortgage interest and property tax?
I have a few comments after answering your questions:
Does this mean I can have deduction of 22,369 + 8000 = $32,369 from
mortgage interest and property tax?
Yes you math is correct.
Since $32,369 ...
- 116k
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Is this how you calculate how much you can deduct from itemized deduction for mortgage interest and property tax?
You should use the values you get from your bank on form 1098 and from your county for the property tax which is proportional per value (as opposed to fixed amount per parcel which is non-deductible), ...
- 127k
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Is this how you calculate how much you can deduct from itemized deduction for mortgage interest and property tax?
Yes. The exact amount of mortgage interest you paid will be reported to you on form 1098 at the end of the year.
Yes.
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