Getting a Refund

[JeepGirl6]

This is my first year doing child care taxes. I didn't know that I needed to pay quarterly so I did not. With all of my deductions I am afraid I may be in the negative...This may be a stupid question but I am not familiar at all with this tax stuff...If I didn't pay in at all and am also in the negative, do I get any money back? Thanks

Also can I deduct my home loan interestfor the past year ?

[TomCopeland]

Getting a refund

It's possible that you might get a refund even though you didn't pay estimated taxes throughout the year. This could be due to several tax credits that are refundable.

Yes, you can deduct the time-space percentage of home mortgage interest on Form 8829 Expenses for Business Use of Your Home. That form also allows you to deduct utilities, property tax, house insurance, house repairs, and house depreciation.



Join me for my webinar on February 28th "How to Reduce Your Taxes for 2010 and 2011". I guarantee that you will save more in taxes than the cost of the webinar ($25). For more info: https://www.daycare.com/news/taxes/t...d-webinar.html