Can I deduct home office furniture from my taxes? June 15, 2022 Furniture and other office equipment that you purchase to facilitate working from home are claimable on your income tax return. If the item is…
Can you write off travel expenses for rental property? June 15, 2022 For example, if you travel to California to look for a prospective rental property, and you actually end up purchasing one of the properties,…
How much can I deduct for laundry expenses? June 15, 2022 There are essentially two (2) options that may allow you to deduct your laundry expenses. 1. If the clothing qualifies as “deductible” (required or…
Can furniture be a tax write-off? June 15, 2022 Examples of these expenses include the cost of packing, crating, hauling a trailer, in-transit storage, and insurance. Note that you cannot deduct expenses for…
Do doors qualify as qualified improvement property? June 15, 2022 Any enlargement of the building, any elevator or escalator, and any internal structural framework do not qualify. Qualified improvement property is depreciated using the…
Can I claim laundry allowance? June 15, 2022 If your laundry expenses (washing, drying and ironing but not dry-cleaning expenses) are $150 or less, you can claim the amount you incur on…
Are Energy Star appliances deductible 2021? June 15, 2022 ENERGY STAR Products That Qualify for Federal Tax Credits: Gas, propane, or oil boilers – Gas powered boilers that are recognized as ENERGY STAR…
Can you claim washing machine on tax? June 15, 2022 Homeowners can claim a federal tax credit for making certain improvements to their homes or installing appliances that are designed to boost energy efficiency….
What home appliances are tax deductible? June 15, 2022 ENERGY STAR Products That Qualify for Federal Tax Credits: Gas, propane, or oil boilers – Gas powered boilers that are recognized as ENERGY STAR…
Can you take bonus depreciation on used assets in 2020? June 15, 2022 For tax years 2015 through 2017, first-year bonus depreciation was set at 50%. It was scheduled to go down to 40% in 2018 and…