Are Rent Payments Tax Deductible in Michigan?

Answer While tenants cannot typically deduct rent payments, renters in Michigan have a few potential avenues by which they may be able to take a limited deduction or credit for rent paid to a landlord. No... Read More »

Top Q&A For: Are Rent Payments Tax Deductible in Michigan

Can I get help with my rent payments?

There are several ways to help for rent payments, including state housing assistance, government and private grants, short-term loans, local charity donations or asking to borrow money from a frien... Read More »

Are car payments deductible on your taxes?

The IRS states that businesses can deduct lease payments for vehicles that are solely for business use. However, you cannot deduct lease payments or other actual expenses if you deduct the standard... Read More »

Are IRS tax penalty payments deductible?

Congress has determined that funds spent to satisfy IRS tax penalties do not qualify as tax-deductible expenses. Penalties are assessed when payments arrive late, stated deductions are denied or in... Read More »

Are Alimony Payments Tax Deductible?

Alimony payments are deductible from taxes. Alimony payments are only deductible on Form 1040 Line 31a; they are not deductible on Form 1040A or Form 1040-EZ. The alimony must be from a divorce or ... Read More »