Hidden Tax Deductions in Chapter 13
November 4, 2022
There are possible tax deductions in your Chapter 13
The most common:
- Mortgage interest. If you are paying mortgage arrears through your Chapter 13 plan.
- Real Estate taxes. Even if one has an escrowed account with their mortgage lender it deductible. Also, some individuals are paying back real estate taxes: what is paid through Chapter 13 is likely deductible.
- Business Expenses. This includes Ride Share drivers as well has clients who are operating traditional businesses.
GO BACK TO PRIOR TAX YEARS
Tax returns are generally amendable for 3 years.
Disclaimer: Robert J Adams & Associates concentrate our practice in bankruptcy law. We are neither accountants nor income tax experts. Defer to your income tax professional.
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