I used money from my home equity loan to pay off some of my personal debts. Can I deduct interest?

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• 1031 exchange; a section contained in the internal revenue code By: Esteri - A 1031 exchange is often referred to as a starker exchange. It is a section contained in the internal revenue code providing for the sale of a investment property such a real estate into the purchase of one or more other “like kindâ€� properties. At closing the sale, the proceeds there from are transferred to a third person called a facilitator or a qualified intermediary. He then holds the proceeds till they are used for acquisition of the new property.
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• TAXATION: DO CANADIAN CORPORATIONS PAY THEIR SHARE? By: Jeff LaRoche - When looking at large corporations on the Canadian soil, one might wonder what keeps them there. To fully understand such a question, you must study the business, but most of all its taxation and regulation. Big corporations in Canada don't pay their full share when it comes to taxes. The central government helps out big businesses in order to keep the money circulating through Canada instead off other countries. It is seen as inappropriate and unfair that corporations with profitable operations benefit from government services without supporting such services through income tax.
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• Finance: A Discussion on Progressive Taxation By: Jeff LaRoche - The United States government taxation system is based off the fundamental progressive taxation theory. Most people don t fully understand the taxation system and question the validity of the system the United States currently has. However, I believe that progressive taxation is the best system for the majority of society. The progressive taxation system is most evident in the income taxes; the tax is levied at a rate that increases as the quantity of income increases. This system was devised to collect a greater proportion of tax revenue from wealthy people reflecting the ability-to-pay principle.
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• 5 Simple Tax Tips for Individuals and Small Businesses - Avoid Stress While Saving Time and Money! By: Michael Rozbruch - 1. Be Careful and Thorough. Avoid common problems like illegible hand writing, mathematical errors, transposition of numbers, and missing signature. These little oversights can end up costing you time and money if you are slapped with penalties. 2. Get Organized. Allow enough time to get your "stuff" in order. For example, properly categorizing your expenditures now will save you a lot of time later. Come tax time, you will be glad you grouped your expenditures by category (match it with verbiage on Schedule C if self-employed) and not by month or name of vendor payee. 3.
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• Paying Overdue Taxes By: CarsonDanfield - It is top priority to pay all your overdue taxes as soon as possible due to the compounding problems that occur. With penalties and interest on overdue taxes it doesn't take long for the total to mount up where you will be paying more for those than the original amount outstanding. Federal taxes are one of your most important debts to clear as there is no one quite as ruthless at recovering debt than the IRS. They have more powers than anyone else to recover debt.
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• McCain's tax cuts won't help you but these tax strategies will By: drew miles - No one wants to pay more taxes than they are lawfully required to. But sometimes in their quest for lower taxes, many people will fall prey to many scams that promise a lower tax bill. In the end, these scams are always more trouble than they are worth.My name is Drew Miles, and I am known as the Tax Savings Attorney. My goal is to help as many people lower their taxes to the absolute legal minimum, without any risk of facing problems with the IRS.
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• AeroMarineTaxPros.com: Personal Property Exchanges By: Michael Yesk - The tax deferred exchange, as defined in Section 1031 of the Internal Revenue Code of 1986, as amended, offers businesses one of the last great opportunities to build wealth and save taxes. By completing an exchange, a business (“Exchanger”) can dispose of its personal property, use all of the equity to acquire replacement personal property, defer the capital gain tax that would ordinarily be paid, and leverage all of their equity into the replacement property.
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• Understanding Value Added Tax and the Process of Filing the Return By: Article Manager - Value added tax is a crucial concept that all business owner needs to understand and know. It is very crucial for all organizations to have a clear idea about its concept, in order to successfully run a business. It is extremely important to understand about VAT and how it works. In order to understand the concepts of VAT return it is necessary to know who pays VAT and when its registration is compulsory. It is important to understand the advantages and drawbacks of voluntary registration and the process of filing of the returns.
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