Tax Law (Questions About Taxes)/Tax questions


I have some tax questions.  First, I had a home built in 2015.  I paid $995 in origination fees on the construction loan and $400 in origination fees on the permanent financing.  Is it all deductible at once or do I have to spread some of it over the life of the loan?  Second,  I have a 22 year old son who does not live with me nor do I claim him as a dependent.  I do carry him on my insurance and sometimes pay his co-pays for doctor visits.  Are those expenses deductible?  Lastly,  I have a rental real estate business.  In 2015 I purchased a lawn mower and a wood chipper to use for my business.  Are they items I can fully deduct or do I need to capitalize them?  Thank you for your time.



The fees on both loans can be deducted in 2015.

The expenses for your son are not deductible. If he were a dependent, you could deduct medical costs you pay for him.

The items you purchased for your business can be expensed under Sec 179, presuming they are used 100% in the business. If less than that, you must pro-rate the amount of expenses. If under 50% you cannot use Sec 179.

Hope this helps.

John Stancil, CPA  

Tax Law (Questions About Taxes)

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John Stancil, CPA


I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at I also offer seminars and consultations to churches and clergy on their tax issues at Also visit my blog, I am listed on Tax Connections at Prepare and file your own taxes at


I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

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The CPA Journal, Florida CPA Today, Green Consumer, Green Business, Global Sustainability as a Business Imperative, Palmetto Review, NATP TaxPro Quarterly, Mustang Journal of Finance and Accounting.

DBA University of Memphis MBA University of Georgia BS in Accounting Mars Hill University

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