Q. I just have liability insurance, is that going to be ok to cover the damages if the managment as me to pay?
A. Liability insurance will cover the damage to the gate done by your car.
Property Damage liability pays for the property damage that other people incur because of your negligence. This type of situation is what liability is for.
It will be considered an at fault accident - because you hit a fixed object. So you may see a rate increase. Your agent may be able to give you an idea of what king of increase you may see.
Property Damage liability pays for the property damage that other people incur because of your negligence. This type of situation is what liability is for.
It will be considered an at fault accident - because you hit a fixed object. So you may see a rate increase. Your agent may be able to give you an idea of what king of increase you may see.
What taxes/property taxes or other do you pay on a houseboat?
Q. My husband is feeling some pressure due to the economy. We have
3 homes, 2 are rented but sometimes they leave without paying or
they ask for more time, he thinks it would be better to sell both homes
or all three and buy a boat house, but what are the taxab le
differences do you pay property taxes, insurance,?
3 homes, 2 are rented but sometimes they leave without paying or
they ask for more time, he thinks it would be better to sell both homes
or all three and buy a boat house, but what are the taxab le
differences do you pay property taxes, insurance,?
A. That will depend upon state and local laws.
If your real estate holdings are generating an unsupportable negative cash flow then divest them if you can without losing your shirt.
I'd question the sanity of buying a houseboat in a down economy though. Definition of boat: A hole in the water into which one pours on unlimited amount of cash. You should probably be thinking of conserving limited resources right now, not squandering them.
If your real estate holdings are generating an unsupportable negative cash flow then divest them if you can without losing your shirt.
I'd question the sanity of buying a houseboat in a down economy though. Definition of boat: A hole in the water into which one pours on unlimited amount of cash. You should probably be thinking of conserving limited resources right now, not squandering them.
Can you write-off cost of looking for property, loss of earnest money, appraisal?
Q. I actively look for properties to buy and this ear I found one, made an offer w/earnest money deposit, paid for appraisal, inspections etc. But deal fell through due to unexpected flood insurance issues. My questions are:
-Can I write-off earnest money deposit loss, appraisal fee, inspections associate with this deal which unfortunately did not materialize.
I appreciate your feedback and if you could include some tax/IRS references it would help grately.
Thanks.
It was an INCOME propery
-Can I write-off earnest money deposit loss, appraisal fee, inspections associate with this deal which unfortunately did not materialize.
I appreciate your feedback and if you could include some tax/IRS references it would help grately.
Thanks.
It was an INCOME propery
A. Good starting reference is to obtain a Publication 17 from the IRS. You can call their order line or go to IRS/GOV and use forms and publications. If buying/selling properties is a business for you then all expenses related thereto should be deductible. Travel, lodging, meals, phone, legal, yaddah. If you lost money at it then welcome to the real world.
How do I figure ACV for a contents personal property insurance claim?
Q. I just posted earlier. I have another question. I tried to complete some of this personal property inventory worksheet that Statefarm gave me....It asks me for Replacement Cost, and then asks me for Actual Cash Value. It seems I have to depreciate the item. How do I depreciate an item like my sofa?
A. You do not have to depreciate the items - they'll do it for you.
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