If I know the total cost I paid for an item and the tax is 7.6%, how can I figure the cost of the item.?
Answers: divide the total amount by 1.076. this will get you the original price of the item. just to check afterwards multiply the answer you got by 1.076 and make sure you end up with the total. :)
Total cost = price plus tax.
Price = n
Tax = 7.6 percent of price
so
Total cost = n plus (.076) times n
or
Total cost = (1.076)n
so
Divide both sides by 1.076
Is PMI deductible within 2008?
I just open my mortgage loan in 2007. My husband and I hold extremely poor credit and still got a large amount.100% loan with 6.625 fixed rate. But the PMI is slaughterer. Will this be deductible for fiscal year 2008? I pay 230/month PMI
Answers: There is a exotic tax imperative regarding PMI contract that be originated within 2007.
1040 schedule A string 13
Quoting IRS 1040 instructions:
"Qualified MIP you paid underneath a mortgage insurance contract issued during 1007 in nouns with home getting hold of debt that was secured by your first or second home."
Qualified man: VA, FHA and Private mortgage insurance
The answer to your question- from the information you provided I do believe that your PMI is deductible this year.
Lori's answer is correct - she of course expected issued during 2007 not 1007.
Why is my import tax discount amount lower than what it be supposed to be?
On my bank statement it say: REFUNDS NOW DES...PPD ON 2/08/08IM MAINLY WONDERING WHAT DOES "PPD" MEAN AND WHAT ARE THE CHANCES THAT THERES A MISTAKE?
Answers: The IRS could have reviewed your form and found a mistake and corrected it.it's happen to me....