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Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.

Are vehicle title fees tax-deductible?

Annual car registration fees may be deductible on your federal income taxes, but only under certain circumstances. The portion of the registration fee that is charged based on the vehicle's value — as opposed to its size, age or other characteristics — can generally be claimed as a deduction.

How much of Vehicle Registration is tax-deductible?

Yes, if it's a yearly fee based on the value of your vehicle, and you itemize your deductions. You can't deduct the total amount you paid, only the portion of the fee that's based on your vehicle's value. And, not all states have value-based registration fees.

Are vehicle taxes deductible?

There is a vehicle sales tax deduction, but you will have to choose between taking this deduction or claiming your state income tax. You can deduct sales tax on a vehicle purchase, but only the state and local sales tax. ... If you deduct sales tax, you can either: Save sales receipts and deduct actual sales taxes paid.

Are vehicle license fees deductible in 2018?

The licensing part of your California DMV registration fees is still deductible for the 2018 tax year. ... If you don't itemize, you can't take it and the threshold for itemizing is a lot higher for the 2018 tax year.

How do I claim registration fees on my taxes?

Stamp duty and registration fee qualify as deductibles under section 80C of the Income-tax Act, 1961, up to a limit of Rs1. 5 lakh. Do remember, however, that you can claim this deduction only if the construction of the property has been complete, and you have legal possession of the house.

What part of DMV fees are tax-deductible?

The Vehicle License Fee (VLF) is the portion of your registration fee that is tax-deductible. VLF for Tax Purposes may assist you in determining the VLF paid in a specified tax year.

Can I deduct lawyer fees on my taxes?

Legal fees for tax advice are deductible, and any tax qualifies: income, estate, gift, property, excise or sales and use tax. The fees may involve tax planning or controversies, and even fees for purely personal tax advice qualify (as miscellaneous itemized deductions).

Are attorney fees tax-deductible in 2019?

***Updated March 11, 2019*** After the 2017 Act, clients can no longer deduct legal fees as a miscellaneous expense even if they choose to itemize their deductions.

Are attorney fees tax-deductible in 2018?

However, new law changes impact reducibility of certain personal legal fees. Attorney's fees that have been deductible (for 2017 and earlier years) as a miscellaneous itemized deduction subject to the 2%-of-AGI floor will no longer be deductible at all starting in 2018.

Are legal fees for settlement tax-deductible?

Money you pay for legal fees or court costs is deductible, as long as the legal matter is business and not personal. If you agree to pay the plaintiff to settle a civil suit, that's also a legitimate business write-off. If the government took you to court, you can write off any remedial or compensatory damages you pay.

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