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Learn whether union dues are tax deductible, including changes from the 2017 Tax Cuts and Jobs Act, and find out when individuals can still claim deductions.
If you own a primary and second home, you can only deduct up to $10,000 even if you paid $6,000 in property taxes on a primary residence and $7,000 in property taxes on a secondary residence.
Most HOA fees are not tax deductible, but there can be exceptions. “As is often the case in federal tax, the answer is — it depends,” said Karen Wallace, assistant professor in Adelphi ...
The initiation fee covers the administrative costs of joining the union. Fees may, however, be ongoing. For example, a union program (such as a welfare or benefit fund) may be offered only to those union members who pay a regular fee to participate in the fund. Most union workers pay a fee when they start working for a company.
Louisiana exempts the first $7,500 of residential homestead from local property taxes. [8] Maine exempts the first $25,000 of a primary residential homestead from property taxes. This is paid to the municipality and refunded when state taxes are filed. [9] Michigan exempts the homeowner from paying the operating millage of local school districts.
If you pay rent on a primary residence, you might be able to claim a state tax credit. Many states offer a renter’s credit, but not every state does. ... There are several tax-deductible ...
The particular tax consequences of a donor's charitable contribution depends on the type of contribution that he makes. A taxpayer may contribute services, cash, or property to a charity. There are a number of traps, especially that donations of short-term capital gains are generally not tax deductible.
The Tax Cuts and Jobs Act of 2017 made major changes to individual and business tax code, particularly as pertains to deductions, depreciation, tax credits and expenses. For businesses, many of ...