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Taxes

Tax Adviser

By George Saenz • Bankrate.com
Can I deduct mortgage payments for rental?
You can't deduct mortgage payments, but you can take other tax breaks on rental property.
Archive
Penalty on withdrawals from Roth IRA?
Article: Whether you pay a penalty on Roth IRA withdrawals depends on a few factors.
2012-04-03T00:00:00
What does it mean to claim insolvency?
Article: The definition of assets is important in determining the extent to which a person is insolvent.
2012-04-03T00:00:00
Converting nondeductible IRA to Roth
Article: All gains in your IRA will be taxed at ordinary income tax rates, no matter what their nature.
2012-04-03T00:00:00
Claim losses on investment property venture
Article: Attorney fees paid while defending your right to an investment asset can be added to its basis.
2012-04-03T00:00:00
Roll over 401(k) loan or pay penalty, taxes?
Article: A reader can roll over his 401(k) loan, but wonders if it'd be better to pay the penalty.
2012-04-03T00:00:00
Moving IRA assets under divorce decree
Article: If you correctly transfer your IRA assets to your ex-spouse, it will not be a taxable event.
2012-04-03T00:00:00
Reporting interest from foreign accounts
Article: The IRS imposes stiff penalties on individuals who don't report offshore account earnings.
2012-04-03T00:00:00
Are insurance settlements taxable?
Article: Typically, insurance settlements for property damage or physical injury are not taxable, says CPA George Saenz.
2012-04-03T00:00:00
Tax deductions for investment property
Article: You can claim two tax deductions: the mortgage interest and depreciation for the property.
2012-04-03T00:00:00
Taxed for debt cancellation from 1991
Article: Get with the lender that issued Form 1099-C for the 1991 charge-off. If that fails, hire help.
2012-04-03T00:00:00
Are health insurance premiums tax-deductible?
Article: You can deduct premiums if your medical expenses exceed a certain threshold of your income.
2012-04-03T00:00:00
Getting the tax refund runaround from IRS
Article: You would owe interest and penalties for filing taxes late. But the IRS plays by different rules.
2012-04-03T00:00:00
Is cash surrender value of insurance taxed?
Article: If the cash surrender value of the policy consists of excess earnings, that portion is taxable.
2012-04-03T00:00:00
Premature to claim bad debt write-off
Article: An investor asks if he can write off a bad debt before he gives his friend a chance to repay it.
2012-04-03T00:00:00
What are the qualified education expenses?
Article: You don't have to pay the penalty if you make an IRA withdrawal for certain education expenses.
2012-04-03T00:00:00
Getting credit for student loan payments
Article: The IRS is not the problem. You need to notify the lender that you are making the payments.
2012-04-03T00:00:00
How to prove IRS wrong about a tax bill
Article: You can take one of these approaches with the IRS to avoid paying tax on the debt you repaid.
2012-04-03T00:00:00
Health insurance deduction for S-corp
Article: You can't claim a deduction for your health plan at the corporate level, but you can on Form 1040.
2012-04-03T00:00:00
Rules for claiming parents as dependents
Article: Do your parents meet the resident and other tests? If not, you cannot claim their exemption.
2012-04-03T00:00:00
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By Kay Bell
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IRS under siege
Fired commissioner. Congressional hearings. Scathing tax watchdog report. It has been a terrible week for the IRS. And the tough t
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