Tag Archives: Fees

Mutual Fund Fees

Today TaxMama® hears from Farmer in the TaxQuips Forum, with a reasonable question.  “Can you take a deduction of Mutual Fund operating expenses (12b fees?) on Schedule A, subject to the two-percent floor?”

Legal Fee Deduction

Today TaxMama hears from Julian in the TaxQuips Forum with an easy question. “I wonder if I can deduct immigration lawyer costs from my tax return? The fees were to get me the work permit for my current job in the US.”

HUD 1

Today TaxMama hears from Craig in the TaxQuips Forum, who asks. “Are items on a HUD-1 (seller’s side), Lines 510-519, deductible by the seller as taxes paid on Schedule A or are they adjustments to the basis?”

Church School

Today TaxMama hears from Ann in Texas who wants to know. ” I am a single mother of two children and they attend private schools. I pay Church fees to my daughter’s school only. This is for Parishoner fees. Can the money that I invest in private schools and Church fees be claimed on my […]

Employer Deductions

Today TaxMama hears from Myra in South Carolina, who asks, “Can an employer deduct 11% from employees’ wages and tell them that it is to cover the cost of processing credit cards? My son works in a restaurant where tips are added to credit cards and then the employees are charged this 11% by deducting […]