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William KeatsTax Professional Level: Master Tax Advisor
I am assuming your dog is a 'show dog'. Since this is a dog show and he wins a money prize, I believe you will receive a 1099-MISC tax form in January or February, requiring you to report the amount won. However,... Read More
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William KeatsTax Professional Level: Master Tax Advisor
More and more taxpayers are setting up accounts for their pets. Trusts are expensive to establish. I would leave my pet a designated amount in my will, and would probably set up the account ahead of time at a... Read More
Harold GoeddeTax Professional Level: Tax Enthusiast
You can only deduct moving expenses for your family, which does not include horses. Dogs and cats most likely will be in your car .For 2012, the deducible expense for driving your car is 23 cents per mile (24... Read More
William KeatsTax Professional Level: Master Tax Advisor
I am assuming you do not have start-up or organizational costs at this point, and that the business has been ongoing for some time A deductible business expense is any expense that is ordinary . (common and... Read More
William KeatsTax Professional Level: Master Tax Advisor
The best way to do this is to set up a record book or journal documenting the expenses incurred for the dog. Since this is a volunteer no-income situation, it will qualify as a charitable contribution to the .non-... Read More
William KeatsTax Professional Level: Master Tax Advisor
If the neighborhood is such that you require the services of a guard dog, it is my opinion that the daily costs expended in maintaining this animal for security purposes are deductible for tax purposes. Be sure to... Read More
Kathryn MorganTax Professional Level: Master Tax Advisor
There is a form 1098C that the organization must give you and the car goes on the form 8382. This will carry the allowed deduction to your Sch A for itemized deductions. The deduction is going to be based on the... Read More
Lisa Nason CPA, MSTTax Professional Level: Tax Enthusiast
If the mortgage refinance was for your main or second home then you are only allowed to deduct qualifying points over the life of the loan. Qualifying points are usually fees paid to the lender for the loan. Bank... Read More
William KeatsTax Professional Level: Master Tax Advisor
If the assessment for the water is included on your tax bill, it is deductible. Read More
Kathryn MorganTax Professional Level: Master Tax Advisor
The IRS doesn't communicate via email for your safety. They require phone or signed correspondence to verify your identity. Email is way to easy to fake or hack to be putting all the info necessary to steal your... Read More
