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Recent Personal Property Tax questions

I am filing schedule a - itemized deductions - I see

I am filing schedule a - itemized deductions - I see interest(item 10) insurance(item 13) but I can not find the property tax deduction. Is property tax I'd deductibleThank you

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Lev

Retired

Bachelor's Degree Equivalent

25,422 satisfied customers
Could I please get your help again - please help me estimate

Hi again. Could I please get your help again - please help me estimate my tax refund in the following scenario.Same basic premises:80K - w2 income20K - withholding3500K - educational expenses (this is the total amount after accounting for 2% limitation)What would my tax refund be?d. So then we would deduct $13,400 from my total taxable income as an employee ($80,000). This means my new taxable income is $66,600.e. Under normal circumstances, (see 'a' above), my federal taxes amount to $20,000. Under the scenario set out above, what would my tax savings amount to? I am assuming I would get a refund back?

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Lev

Retired

Bachelor's Degree Equivalent

25,422 satisfied customers
I think that my question is pretty simple. So far in 2017,

Hello - I think that my question is pretty simple. So far in 2017, my gross earnings are about $49,000 and about $39,000 came from severance, retention bonus, 2016 bonus, 2017 bonus, vacation and PTO pay out - my job was eliminated on January 27th. I've paid about $15,000 in Federal Taxes and $3,000 in State Taxes and about $600 went into my 401(k). I just started a new job with an annual salary of $58,000. I've always rented and have processed my own taxes since they're not complicated. The $39,000 in severance, retention bonus, 2016 & 2017 bonus, vacation and PTO payout were taxed at 40%. If I were to continue to claim '1' on my W4 for the remainder of 2017, can you tell me what I could expect as far as a tax refund in 2018?

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Lev

Retired

Bachelor's Degree Equivalent

25,422 satisfied customers
Nevada tax question. I have a person in Las Vegas with a DMV

Nevada tax question. I have a person in Las Vegas with a DMV receipt forVIN INSPECTIONPRISON INDUSTRY FEEREGISTRATION FEE-PASSENGER VEHICLESBASIC GOV SERVICES TAX-CLARKSUPPLEMENT GOV SERVICES TAX-CLARKEach has its own cost.Which, if any of these, are tax deductible???

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Dr. Fiona Chen

President

Ph.D.

1,036 satisfied customers
CPA We just set up LLC company for the real estate rental

CPAWe just set up LLC company for the real estate rental business.We are going to purchase a couple properties for rent out.What kinds of expense can we deduct ?We are thinking to buy ipad to carry, can we deduct these expense from the business?Also, we are going to change a car. Can we deduct automobile to deduct ?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,984 satisfied customers
Can the state of deny you the right to renew your drivers

Can the state of Virginia deny you the right to renew your Virginia drivers license if you owe back Virginia state taxes? Thank you. Rob

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,984 satisfied customers
I'm advising a customer of ours about the impact of opening

I'm advising a customer of ours about the impact of opening a warehouse in Illinois. I have heard in the past that Illinois charges a tax for inventory stored in warehouse. Do they still do that?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: This is for a warehouse. Finished goods will come into warehouse and be stored for a period of time. Then based on orders, inventory will ship out of the warehouse. Is there a tax on inventory like this in Illionios?JA: Is there anything else the Accountant should be aware of?Customer: no

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,984 satisfied customers
I live in Chesterfield Va .and am involved in a situation

I live in Chesterfield Va .and am involved in a situation .There is a house that belongs to a family member that is paid for and I was told that if someone comes in and pays personal property taxes for a certain length of time they would own the house.My question is is this true and if so what is the period of time.Thank you ,Barbara Stephens

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,984 satisfied customers
I was living in one of my daughters garages that I redid

I was living in one of my daughters garages that I redid into an apt. Their property was foreclosed on and sold at auction. Since I was unable to get any money back that I put into it and am on a fixed income, I now live sometimes with another daughter, sometimes with 2 separate friends. I pay personal property taxes each year in the county my daughter lives in. The friends live in adjoining counties. My daughter is concerned that since I am not there full time, that using her address can cause her problems, which I do not want. I do not have enough income to file income taxes, but as I said I do pay personal property taxes. Any help would be appreciated. This is Virginia.

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Robin D.

Vocational, Technical or Trade School

25,366 satisfied customers
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