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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) |
Bobbieo (1000+ posts) Send PM | Profile | Ignore | Sun Apr-15-07 05:57 PM Original message |
Is credit card interest tax deductible except for mortgage payments? |
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dragonlady (1000+ posts) Send PM | Profile | Ignore | Sun Apr-15-07 05:59 PM Response to Original message |
1. No |
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Canuckistanian (1000+ posts) Send PM | Profile | Ignore | Sun Apr-15-07 06:00 PM Response to Original message |
2. You're taxed for credit card interests? |
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Bobbieo (1000+ posts) Send PM | Profile | Ignore | Sun Apr-15-07 06:04 PM Response to Reply #2 |
4. That's waht I tried to tell a friend but he says his CPA takes off credit card interest. |
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wakeme2008 (1000+ posts) Send PM | Profile | Ignore | Sun Apr-15-07 06:04 PM Response to Reply #2 |
5. before Reagan you could |
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Straight Shooter (1000+ posts) Send PM | Profile | Ignore | Sun Apr-15-07 06:03 PM Response to Original message |
3. No. But it might be if it's for a business-related expense. |
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Warpy (1000+ posts) Send PM | Profile | Ignore | Sun Apr-15-07 06:07 PM Response to Original message |
6. Thank REAGAN for not being able to deduct it |
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gristy (1000+ posts) Send PM | Profile | Ignore | Sun Apr-15-07 06:15 PM Response to Reply #6 |
7. Before you get too upset with Reagan w.r.t. credit card debt, ask yourself |
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Sherman A1 (1000+ posts) Send PM | Profile | Ignore | Sun Apr-15-07 06:23 PM Response to Reply #7 |
10. Agreed |
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NormanYorkstein (762 posts) Send PM | Profile | Ignore | Sun Apr-15-07 07:46 PM Response to Reply #10 |
14. It's a subsidy for lenders |
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dflprincess (1000+ posts) Send PM | Profile | Ignore | Sun Apr-15-07 06:39 PM Response to Reply #7 |
11. While you make some good points |
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Possumpoint (937 posts) Send PM | Profile | Ignore | Sun Apr-15-07 07:17 PM Response to Reply #7 |
12. I'm Sorry |
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A Simple Game (1000+ posts) Send PM | Profile | Ignore | Sun Apr-15-07 07:42 PM Response to Reply #12 |
13. I am happy for You. Really I am. |
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Warpy (1000+ posts) Send PM | Profile | Ignore | Sun Apr-15-07 08:15 PM Response to Reply #12 |
17. Sure, tax people making under $20,000/year 33% on their earnings |
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Warpy (1000+ posts) Send PM | Profile | Ignore | Sun Apr-15-07 08:14 PM Response to Reply #7 |
16. Not deducting it causes more debt |
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Bobbieo (1000+ posts) Send PM | Profile | Ignore | Sun Apr-15-07 06:16 PM Response to Reply #6 |
8. I don't worry about interest build up on my card. I use it very frugally |
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Warpy (1000+ posts) Send PM | Profile | Ignore | Sun Apr-15-07 08:13 PM Response to Reply #8 |
15. So did everybody when they started out |
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WoodrowFan (1000+ posts) Send PM | Profile | Ignore | Sun Apr-15-07 06:16 PM Response to Original message |
9. only if it is a business credit card |
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