Financing in Payson>Question Details

Nuevo, Home Owner in Payson, AZ

i suport my family at the philippines i send money every month can i use that with my taxes?

Asked by Nuevo, Payson, AZ Sat Nov 5, 2011

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As real estate professionals we are unable to answer that question. Speak to a tax advisor, I'm sure they'll have the answer for ya.

Best of luck!
0 votes Thank Flag Link Fri Nov 11, 2011
Hi Nuevo:

If you are asking if you can take it as a charitable deduction, the answer is NO. Has to be to a qualified charitable organization recognized as such by the IRS.

Why are you asking a tax question on a real estate forum?
0 votes Thank Flag Link Sun Nov 6, 2011
From previous experience, No you can't use this for your taxes. You need to talk to your CPA and have them look over your situation, they would be the only person to give you legal advice regarding your situation.
0 votes Thank Flag Link Sun Nov 6, 2011
I have never seen a line on the tax form that says "Money that I spent to support my family"
0 votes Thank Flag Link Sun Nov 6, 2011
I would suggest that you talk to your tax accountant about this issue. If you would like a good tax accountant then call Ron Sublett at 602-228-4911 and he would be happy to assist you. Just tell him that Rocky referred you.
0 votes Thank Flag Link Sat Nov 5, 2011
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