Are loan origination fees tax deductible?
95437
Depends on what your loan is for.  Generally, points on a qualifying loan are usually amortized over the payments for that deduction.
1160579
You should consolidate, since rates will be going up to 7% or higher.  The interest is deductible, but you're still paying more with higher interest rates.  Say you're in the 25% tax bracket, and have $10,000 in loans.  At 5%, you pay $500 in interest. The tax deduction on the interest comes out to $125, so you've paid $375.  At 7%, you pay $700 in interest, the tax deduction is $175, you've paid $525.  The worse the interest rate gets, the more (net) you'll have to pay.
254196
Yes. Any expense that is ordinary and necessary for you to run your business is deductible. There are to many to list here. To sum it up if you have to have it to make your business run than it IS a deduction. Also if you do your billing or keep you records in your home you might be able to take a home office. You can take such little thing as sunglasses off. I would not want to be behind a trucker with the sun in their eyes. Good luck.
538299
It is possible if used for business to deduct the cost from your taxes.
729576
No, but its not very sensible as you are continuing to mount up interest charges.  Contact them and see if you can come to some arrangement which will make it easier to pay.  \nDONT IGNORE IT ANY LONGER!!!!
371480
Yes.  You can deduct any investment-related expenses against the investment income you generate.  Use Schedule A.
139122
There isn't specifically a "tax break" for a first time homeowner.  You do get to deduct your mortgage interest.  As far as moving, if you pass the checklist of questions, you should be able to deduct the specific items that the IRS will allow, i.e. mileage, and moving expenses if it was for your job.
939842
Do you mean a furnace in your own home?  That is not deductible currently.  however, if you make a large gain on the sale of the home ($500,000 if you are married filing jointly or $250,000 otherwise) it can form part of the basis.\n\nIf you are talking about rental property or in a property you use for business purposes it is a depreciable asset.
629399
u can't do nething bout the interest that the bank charges on the govt. loans. I feel u shud be much more specific in what ur askin.
1165807
It depends if they are a Broker and have to share the broker fee with the company the are listed under.   I am a broker, and since I process all my own loans, and have a netbranch out of my home, able to keep fees lower - I have seen some ppl charge the max - allowed by their state - depends on Section 32 laws in a persons state - Section 32 does not allow over total fees to be 7 percent - and in some case 5 percent.  So some ppl charge 3 - 5 percent....I normally charge 2 -3 percent of the loan amout if the loan size is small.  I live in Indiana, but underwrite in othere states also.  The typical loan amount in Indiana is 65,000 - 85,000 - depends on the area.  Hope that answers your question.
1118886
In most places taxes and interest paid is deductable
902580
No, there's a special law to allow deduction of home mortgage interest, but it doesn't allow you to deduct other personal interest like car payments or leases, unless you have a business and the car is used for your business.
288069
That's why whenever you apply for a home equity loan....they don't really tell you.  They alway say consult your tax advisor.\n\nTechnically it's not legal, but it's in a "gray" area of the law.  \n\nI know of tons of people who have taken the interest off their taxes and haven't been challenged.  I would not worry about it.
872943
The only thing you can deduct from your tax is probably your mortgage interest. Individual items in the closing statement may be deductible when you sell the house.
449665
MOST of the time they are deductible. \n\nThe rule is if they are a percentage then they are interest and are deductible.\n\nBut a far more important question is can the company charge them. Many states have written laws that prevent the companies from legally charging prepayment penalties. The problem is that many of the companies just go ahead and charge them anyway knowing that may people will never check  out if they are allowed to collect them.\n\nI had a client here in Wichita where I maintain a tax office come in last year after being charged a prepayment fee by Beneficial Finance wanting to know the same thing. When I told them to contact the Kansas Attorney Generals office because they weren't allowed to collect such fees anymore in Kansas I think that they though I was crazy.\n\nBut they took my advice and wrote them and within one week they had a letter from the Kansas Attorney Generals office saying that they had contacted Beneficial and ordered them to repay the prepayment fee. Of course they were elated.\n\nTo make a long story short the customer got back over $4800 within 10 days of contacting the Attorney Generals office. Just because they say they have the right to collect a prepayment fee doesn't mean they do.\n\nSo contact your State Attorney Generals Office and be sure they even had the right to charge you a prepayment fee. If they did then most like it's deductible. \n\nLet me know the details and I'll research it for you.
210271
The only legal fees you can deduct from your taxes are fees pertaining to taxes and legal fees for your business if you have one. So the answer is no.
65012
I am assuming this is a question on US Tax Law.\n\nYou can take any type of mortgage on your home to claim the interest deduction.  The end use of the loan does not matter.