Can I use storage fees of our 5th wheel as an itemized deduction on our taxes?
104473
not directly unless you are using it for business but it does qualify as a second home, assuming it has an installed bathroom so save the receipts and you may be able to use them later.  unlikely but possible.  you need to start using your fifth wheel to sell, i don't know amway, maybe and put it in a business.
355256
At this point, no.\n\nI think your understanding of how it is handled is incorrect.   Assuming you use the house as your personal residence for two of the last five years, you can deduct up to $250k of capital gain if you file anything except MFJ.  If you file MFJ, then you can deduct up to $500k.\n\nIf your basis is $500k, file single, and sell the house for $750k, the gain isn't taxable.  Any amount over $750k would be taxed as long terms capital gains.
143819
If you itemize your deductions, then your state taxes are deductible from your federal taxes.  Other common large deductions include real estate or property tax, interest on home mortgages, and (if you don't make too much money) the interest on student loans.
674897
YOU SHOULD BE ABLE TO, IF YOU GIVE IT TO A ORGANIZATION CAPABLE OF GIVING YOU A TAX DEDUCTION. YOU CANT DONATE IT TO YOUR WIFE OR CHILDREN, OR EVEN A HOMELESS GUY ON THE STREET AND EXPECT TO DEDUCT IT. YOU ALSO NEED TO MAKE SURE THAT YOU WILL HAVE ENOUGH DEDUCTIONS TO ITEMIZE. IF NOT, THEN IT WONT BE BENEFICIAL FOR YOU TO DONATE THEM TAX WISE.
149648
You can deduct 2004 taxes on your 2004 return -- if you itemize your deductions.
152869
For most people in your situation: add up all state taxes paid or withheld during the year, property and real estate taxes paid, interest paid on a mortgage, charitable contributions. If greater than $5,000, itemize.\nMedical expenses are only counted if they exceed 7.5% of your adjusted gross income.  If you make $40,000, then only the amount of medical expenses over $3,000 can be included as an itemized deduction.\nCar and credit card loan interest do not count towards this.\nDo not use the "average itemized deductions" reported by TurboTax and others.  If you do not have documentation for your expenses and you are audited, you will be paying penalties and interest.\nBusiness expenses will NOT affect your itemized deductions.  They are reported on a separate schedule.  However, unreimbursed expenses you pay as an employee can be included as itemized deductions if they are greater than 2% of your adjusted gross income (line 37).
1038857
Call 1-800-829-3676 and ask for publication #17. Look up Itemized deductions. You are entering into a 1040 situation, long form and will have to learn how to master Schedules A-E which allow you to deduct charitable expenses and business expense. Of course the more you make the harder it is to deduct charitible expenses. You make more money and chance to itemize gets harder as you have to spend more to surpass tax ceilings. Itemizing is not just a charitable section, you will have to do you business and casualty, and medical calculations as well. All of that will go against your standard deduction to see which deduction is greater itemized or standard. And if you are married and filing separately your spouse will have to do the same thing, so this may be more work tan it is worth and it may hurt eiter you or her. As for the business thing, it is possible to deduct the part of house used as an office if and only if you do business in person with customers out of that office and it is not against your deed restrictions to do business with customers in your house. Anything that is otherwise illegal is not tax deductible. Of course you will have to prorate your house expenses to calculate how much you can deduct, and once again it goes towards that itemized versus standardized question of which is greater. In the end you may find out that you wasted your time. Plus, the more forms you fill out the more likely you are to be audited. So, you may want to seek an expert. The IRS will answer your questions at 1-800-829-4477, if not immediately within a couple of days, especially if it is a complicated question. Good Luck, and remember the liability for your filing lies squarely on your shoulders unless you get a tax preparer to do it for you and they sign the forms accordingly. Computer tax programs may help but they are only as rliable as the information you feed into them
155562
You can write off medical expenses.\n\nYou can donate stuff to the Goodwill, donate a non-running car, or open a retirement account.\n\nYou need to talk to your tax consultant as you may have deductions that you do not know about.
380802
You have to report the income you earn. In  the US you will need to file a Schedule C with your return - this is a form about profit and loss. Remeber that you can deduct mileage and expenses that are not reimbursed.\n\nI've been mystery shopping for 6 years.
52635
Only if you have deductible expenses connected with it that get you over the standard deduction so you can itemize, like real estate taxes, mortgage interest, etc.
416059
Unfortunately not. But you can claim all sorts of things, including expenses relating to maintaining and upkeep of the home based on the same portion or percentage of your home that you use for business (office, and a washroom, living room for presentations, etc.) Here in Canada we can base that on how many rooms in the home we use for business or the actual floor space. It might be 4 rooms out of 8, which would be 1/2 and allow us to claim 1/4 of the homes heat, maintenance and mortgage or rent. \n\nThere's some good relevant Tax Reduction information out there - folks who keep up with the current laws that can help you out a lot just by researching their stuff.
467381
If your itemized deductions equal more than your standard deduction (which is listed on the tax return form and is an amount determined by the government), then you should itemize.
20234
1.You may claim the interest/ Property taxes /Registration fees tolls and parking.\n2.also You can claim deprecation Maintenance and Fuel Costs \n3.Or a flat milage rate of  BEFORE SEP 01 40.5 cents per mile AFTER SEP 01 48.5 cents per mile IF not used as a vehicle for hire that carrys passengers such as a taxi\n4.You may deduct 1 and 2 Or 1 and 3
697395
No...because if you don't itemize, you take the standard deduction.  \n\nIf you are paying a mortgage on a house, chances are you'd benefit from itemizing.  At the very least try itemizing and see if it's better, my money says it is.
673860
To an extent yes as the loan is tax deductible.  The problem arises if the loan is for 15 years and the car only lasts 5.  That means you are paying an additional 10 years for something that you no longer have.
233150
If you are able to itemizes your deductions when filling your personal income tax any money withheld or paid in the year in question is deductible.
598549
If you are using this for a business purpose and can justify that to the IRS, and your employer does not reimburse this expense, then yes, you may deduct it, subject to the 2% floor (2% of your adjusted gross income)for miscellaneous itemized deductions.