Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
Id I refinance my mortgage on my single family residence,
Id I refinance my mortgage on my single family residence, can I still claim the mortgage interest rate deduction? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
10,593 satisfied customers
I currently have a mortgage. I am thinking about replacing
I currently have a mortgage. I am thinking about replacing the mortgage completely with a home equity installment loan. So not a second mortage, just totally replacing it. Trying to determine if that will hurt me come tax time on my 1098 … read more
Barbara
Barbara
Enrolled Agent, Paralegal
10,593 satisfied customers
If i purchased a house at 1M and it is now worth 3M, can I
If i purchased a house at 1M and it is now worth 3M, can I take equity out of this? How much equity (all 2M?), and how is this determined? If I want to use this equity to buy a new home, how does this… read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,937 satisfied customers
I have a question on cash out refinance. My specific
My specific question would be "Is the amount I cashed out" tax deductible?… read more
Tax.appeal.168
Tax.appeal.168
Principal
6,547 satisfied customers
Can I expense mortgage interest on a rental property as
Can I expense mortgage interest on a rental property as legal owner but I am not an obligor on the mortgage note? Mortgage loan pmts come from rental cash flow. Have been paying for years. We are refi… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
3,892 satisfied customers
We own property purchased in 2011 using 1031 exchange funds.
We own property purchased in 2011 using 1031 exchange funds. We would like to refinance the 3 mortgages on the property into 1 mortgage, payoff 3 student loans (we can't use the interest paid) and tak… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,870 satisfied customers
I am refinancing my home that I have lived in for 10 years
I am refinancing my home that I have lived in for 10 years and getting cash out will I owe any federal taxes on this money? … read more
Tax.appeal.168
Tax.appeal.168
Principal
6,547 satisfied customers
We plan to refinance our mortgage and we are aware that
We plan to refinance our mortgage and we are aware that under the new tax code the maximum amount deductible for 'new mortgages' is $750K. We are also aware of a grandfathering rule but not sure if it… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,870 satisfied customers
I have a client who is coming to get a loan on a vacation
Hi there; I have a client who is coming to get a loan on a vacation home that she's building. She wanted to refinance her current residence for the funds to build the vacation loan to get a lower inte… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,870 satisfied customers
My wife and I own several multifamily rental properties. This
My wife and I own several multifamily rental properties. This year we refinanced two of the properties, which are held in a California LLC that we set up a few years ago, taking $1,000,000 cash out. W… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,870 satisfied customers
Last year I filed to open a corporation (not S), but the business
Last year I filed to open a corporation (not S), but the business never got off the ground. I'm trying to figure out how to file for tax regarding this corporation. My understanding is that unless it … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,870 satisfied customers
My bank is offering me an opportunity to lower the rate on
My bank is offering me an opportunity to lower the rate on my mortgage (which is current/never delinquent) through a "mortgage rate security modification feature". The fee is a percentage of the loan … read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
I refianced my mortgage because I needed money to make to serious
I refianced my mortgage because I needed money to make to serious repairs work inside the house. How do I put these monies on my tax return and is taxable?… read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,937 satisfied customers
Would like to work with BK-CPA. Refinance interest inquire I
Would like to work with BK-CPA. Refinance interest inquire? I bought Real-estate investment property for 300K few years back. Financed the debt on 250K, Deducted the mortgage interest on schedule E. F… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
Hi I have 4 questions that I think are pretty simple. 1.
Hi I have 4 questions that I think are pretty simple. 1. I took out tuition money from my 529 plan for my daugher this year. Is it true that I don't have to pay a penny on the gain (my cost basis was … read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
1,240 satisfied customers
The question I have is When a person refinances, can they
The question I have is: When a person refinances, can they take the full amount of the interest? I keep reading that it depends on how much. Example: purchase home for $100,000, refinanced new loan to… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
Is there a maximum I can write off from interest on a ...
Is there a maximum I can write off from interest on a home loan? I expect to be able to write off about $50K for 2007. I heard about the "Alternate Minimum Tax", but I am not sure if it applies to me.… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
We have alot of equity in our home and we are thinking of ...
We have alot of equity in our home and we are thinking of refinancing to consolidate some loans so that we will have more mortgage interest to deduct. Currently we can deduct about 13000 a year and if… read more
LegalEagle, LLC
LegalEagle, LLC
Attorney at Law
Juris Doctorate
982 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,937 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

261 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

17,888 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,659 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x