Auto insurance can be expensive, so every bit of savings helps. No doubt, this thought has occurred to many Americans while filing taxes over the years. It makes perfect sense to wonder if car insurance is tax deductible, but claiming car insurance on yo
While there are many instances in which a deductible may apply, there are some scenarios where your comprehensive deductible does not apply. For example, you may have the option to purchase a “full glass” option on your comprehensive coverage. This means that if you have achip or crack in...
When it comes to buying a new car, many individuals consider trading in their existing vehicle as a way to reduce the cost of their purchase. However, what some people may not realize is that trading in a car can also have tax advantages. This is due to the potential tax savings that ...
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How does my deductible amount impact my insurance premiums? If you increase your car insurance deductibles, it increases the amount you are responsible to pay out-of-pocket in the future, and it lowers the amount of money that an insurer would have to pay out in a car accident. Because th...
Is a debenture tax deductible?Debentures:Debentures are fixed income investment options which offer investor fixed periodic payments. The investors capital is secured by a collateral for debentures and therefore, debentures are less risky than the bonds....
Do I need any special certifications to qualify for an electric car tax credit? When you purchase your electric vehicle, generally your dealer should certify whether the vehicle is eligible for the tax credit. In most cases, the dealer certification alone qualifies the vehicle...
When you sign up for a car insurance policy, your insurer asks you to choose a deductible amount for some insurance coverage types, such as collision coverage. A standard deductible is $500, but options range from $0 to $2,000. If you file aclaimrequiring the deductible, you must pay th...
Tax season is a stressful time for everyone, especially business owners. Keeping a daily record of your expenses will help you avoid digging through shoeboxes, your car, and pockets for receipts.Knowing what expenses are tax deductiblecan make sure you’re not losing out on any money. ...
Interest expenses in a brokerage account can be tax-deductible if you’re itemizing your taxes. In theory, you could use a portfolio line of credit to pay off other non-deductible debts and get a tax break for the borrowing against your brokerage account. But you’ll need a temperament tha...