SG Broadband Community

What will you be writing off on your taxes this year?
Always curios to see what people deduct and how they file. Never ceases to amaze me how many people do the rapid refund thing, just seams like a lot to pay to get your money a few weeks sooner.
Have a good day..... Brian

Originally posted by IRS
What will you be writing off on your taxes this year?
Always curios to see what people deduct and how they file. Never ceases to amaze me how many people do the rapid refund thing, just seams like a lot to pay to get your money a few weeks sooner.
Haver a good day..... Brian

Who here has the capital to write off anything. Give me an example of what you or I -as a non-business owners- (or maybe you do own a business I'm not sure I'm just looking for examples) what can be legitimately written off that won't cause a red flag to surface at the IRS and compel them to crawl up your butt with a microscope to investigate the details of that write off?

I just use Turbo tax online. It's free as long as you don't make over a certain amount of money.

property taxes and interest

potentially personal business expenses

a few charitable donations

student loans

I have never been able to write anything off. I'm waiting to see what new tax laws they have for us this time. Maybe, just maybe, I can finally write something off, but I still doubt it. I have no more children to claim, so that means a tiny refund to start with.
I hate tax time.

Originally posted by jeep725
property taxes and interest

potentially personal business expenses

a few charitable donations

student loans

You successfully wrote off your student loan?

I believe you can write off the interest on the student loan.

So do you mail yours in or rapid refund, file by phone or online?

If you own a home do you Itemize (I would guess you would have to) and if you do, do you write off the tax you pay on things for home improvements, like wood/ drywall/ blah blah blah.

And last but not least, who dose your taxes, you or a outside source.

Side note: bleebs, you should call and see if you can use part of any med bills during tax season. I know my sister used part of hers on some form.....

I've used Turbo Tax for the past few years. Last year, the program gave us deductions we didn't know we could take.

Hey, would interest on Home Improvment loas be deductable? My dad got a loan so we could redo our roof as well as get a new Central Heat and Air system...came to about 12,000.00 but the bank only does home inprovment loans in 20,000.00 increments.

Yes, interest on student loans is tax deductible. It used to have a limit of five years, but that changed last year, I believe.

I own a home so I can deduct the property taxes and the interest on my mortgage. If you rent, you can deduct the rent you pay if you are within a certain income range.

I use Turbo Tax and file electronically. If I recall correctly it's like $10 to file that way. I do my own and my husband's taxes.

I got married in June, so I'm not sure how that will affect things (married filing jointly or separately)

I don't believe that home improvements are tax deductible, unless you do business out of your home? Don't really know.

If you have extensive medical expenses, you can deduct those if they are over a certain limit.

I can't think of anything else

You all think you have it bad this coming tax season....I have to file in two countries. lol

Originally posted by CiscoKid
Hey, would interest on Home Improvment loas be deductable?

Yes, if it's a home equity loan.