What is Acquisition Indebtedness? So, lets start at the beginning. Mortgage interest is tax deductible. The first type of mortgage interest defined under the tax code is called âacquisition indebtednessâ. As you might expect, this includes the cost of borrowing to acquire your home, but also includes debt incurred to build or substantially improve a residence, as long as the debt is secured by the same residence.
Although Limited Partnerships, Limited Liability Companies and General Partnerships formed in the State of Delaware do not file an Annual Report, they are required to pay an annual tax of $250.00 ($300.00 to be made effective July 1, 2014, beginning tax year 2014) .
Here are tips for filing taxes in 2015. Wednesday, April 15, is the due date for federal income tax returns for 2014. The deadline for filing state income taxes vary, although most also adhere to the April 15 closing date.State tax deadlines in Delaware and Iowa are a couple of weeks later, on April 30; Virginiaâs is May 1. Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming do not have any state income taxes.ednesday, April 15, is the due date for federal income tax returns for 2014. The deadline for filing state income taxes vary, although most also adhere to the April 15 closing date.