income taxes

[mommytobug]

Hi Can anyone help me with a tax question for DVC...what can you claim??

Also, one more biggie..........my daughter really wants to be at Disney one Christmas Day.................is the week between Christmas day and New years absolutely packed????????????????? THANKS SO MUCH

 

[darner]

depending on your filing status, in general the property taxes may be deductible (if you itemize your deductions, etc.)

consult you tax advisor for full information

 

[CarolMN]

Originally posted by mommytobug
Hi Can anyone help me with a tax question for DVC...what can you claim??

We deduct the portion of our annual dues that are the result of property taxes. Depending on if/how you finance your purchase, you may be able to deduct the interest you pay for the loan. Obviously, you will need to check with your own tax preparer as it's risky to rely on advice received anonymously from the internet. I am not a CPA, attorney or tax expert - haven't even played one on TV, but I do watch a lot of Law and Order and CSI shows, LOL

Also, one more biggie..........my daughter really wants to be at Disney one Christmas Day.................is the week between Christmas day and New years absolutely packed????????????????? THANKS SO MUCH

Yes, it is the most busy time of the year for the parks and they will be packed. You can still have a good time, but you do need to do some planning and adjust your expectations.

Best wishes -

 

[mel&me]

How do you know what portion of the annual dues is property taxes. Does bill have a break down of what money paid in is for?

 

[mommytobug]

I never get a bill becaus it is taken out automatically.............can accounting services help me with these questions........................

I am so confused!!!!

 

[Ralph&Pam]

Originally posted by mommytobug
I never get a bill becaus it is taken out automatically.............can accounting services help me with these questions........................

I am so confused!!!!

Even with auto-debit, I get a bill every year, usually right after Christmas (groan). Check with accounting services if you have not been receiving the annual statement summarizing what the monthly deduction will be starting with the new year. The annual statement includes information about the portion of dues going for property taxes.

Ralph

 

[PamOKW]

Toward the end of December you get the actual bill. It's just a slip of paper and could be easily overlooked.

On that bill it will breakout what you paid in taxes for the current year. For example, the bill you get in December 2004 will have a line showing the actual ad valorem tax (property) tax assessed. This is what you might be able to deduct from your 2004 Income Tax. The bill will also show the estimate you are being charged for the 2005 property tax. You need to be careful about which line you are looking at.

And yes, it really is packed between Christmas and New Year's but it's also a heck of a lot of fun!

 

[dvc guy]

I deduct Real estate taxes.

We have been at WDW for the past 7 Christmas holidays. Packed is a good way to describe it. It is also a GREAT time to be at WDW.
The family loves all the special christmas stuff, the super long hours . Plan on not seeing everything but do go it will be a blast.