Ask a CPA

Improvements to your Residence are not deductible.
The costs are added to your initial cost basis to calculate your increased adjusted cost basis.
Your increased cost basis will be used in the year of sale of your residence to determine the gain on sale.
Improvements to your Rental property are deductible as a repair or a depreciable capital improvement.

The payments to life insurance policies are not deductible.

The payments of parking tickets and other fines for illegal acts are not deductible.

Basic local phone service for the first residential line even if used for business is not deductible.
business use of a second phone line or cell phone is deductible.

A public official is not allowed to deduct campaign expenses for election or reelection.
A public official is allowed to deduct expenses directly related to performance of their duties in office that are not reimbursed.

Home Equity interest is deductible as qualified mortgage interest and deductible as an Itemized deduction on Schedule A.
It is a deduction for regular tax purposes no matter how the proceeds are used.

For the interest on a boat loan to be deductible it has to have sleeping, cooking and toilet facilities and local law must allow for such use.

In 2011, Mortgage Insurance Premiums paid in connection with acquisition indebtedness on a taxpayers primary or second home are deductible as mortgage residence interest.
The deduction phases out based on your filing status and AGI.

Generally, contributions to Foreign organizations other than in Canada, Mexico and Israel charities are not deductible.

Bonus depreciation is an accelerated deduction in the first year purchase of an asset. It is an additional incentive to purchase business assets and considered a measure of relief for small businesses that want to buy additional equipment.
in 2013, 50% is allowed.