What is tax deductible?

Answer "Tax deductible" is a phrase applied to expenses that can be used to reduce your taxable income when you file your annal tax return. If you claim certain deductions you may have to file your taxes ... Read More »

Top Q&A For: What is tax deductible

What is the minimum deductible for high deductible health plans?

The minimum deductible for a high deductible health plan is $1,200 for an individual and $2,400 for families in 2010 and is set by the U.S. Department of the Treasury. This is up from $1,150 and $2... Read More »

If you have an accident before the deductible is lowered but the claim is not filed until after which deductible applies?

Answer The deductible at the time of the accident not the time of claim.

Which is better 500 deductible or 1000 deductible?

Answer It depends. If you plan on having a lot of claims against the insurance, 500 deductible is a better deal. If you only want the insurance to protect you from MAJOR disasters that don't usuall... Read More »

What is a non-deductible ira?

A traditional IRA typically offers the ability to deduct contributions from your taxes. However, a non-deductible IRA refers to contributions made to a traditional IRA that are not deductible becau... Read More »