Category Archives: United States
Negative amortization tax deductible?
chocolate lady asked: I refinanced my mortgage in 2007, and added the negative amortization to the new loan…..Does that mean I can deduct this amount from my 2007 taxes? Many thanks! v_b: the negative amortization is included in the new loan….isn’t that considered paid???http://1mortgagecalculator.info
Is credit card interest tax deductible if you put the money on the credit card towards investments?
tc61380 asked: For example, if I used a cash advance to 1. buy stocks, 2. invest in bonds/fixed income assets 3. “refi” my personal mortgage 4. buy investment property or any other situations where credit card interest is tax deductible? Thanks for all you responses. Just to clarify – Say I borrow $100 from my … Continue reading
how can you pay your taxes w/your credit card online thru the IRS.GOV website?
*~*~DANI BEAR~*~* asked: is this possible?http://1mortgagecalculator.info
Do you need to pay tax on credit card debt negotiated down?
WM asked: We are trying to negociate 50,000 credit card down to 25,000. Is it true that you need to pay taxes on the amount settled to the IRS. See post below: “Do you have the settlement amount in full? When you try to negotiate settlements, often times you need to have enough funds to … Continue reading
Would it be okay to file taxes jointly if I have bad credit and my wife has excellent credit?
least_likely2 asked: I want to file jointly because we are going to get more refund. But I heard that if we file jointly creditors can come after my wife because of my bad credit. Is this true? Please note that most of my bad credit was before we were married. I only have a couple … Continue reading
Is Negative Amortization Deferred Interest deductable?
Geazy asked: I’m being told by my morgage broker that yes it is. Since i’m legally obligated to pay that money back that I can deduct it. I have over 15k in deferred interest and make a huge difference in my return. Anyone know about this or has anyone deducted this on there returns.http://1mortgagecalculator.info
How do I categorize a credit card payment on my business taxes?
Troy L asked: If I charge $1000 on a business credit card for my LLC, and I make a payment of $200 for a monthly payment and $150 goes toward the balance and $50 goes toward interest, how do I categorize the credit card payment? Do I claim the $1000 that I spent and also … Continue reading
