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Are payroll taxes at a corporate level deductible on Federal form 1120?
All state and local taxes as well as FEDERAL PAYROLL TAXES are deductible when incurred on property or income relating to business. But, FEDERAL INCOME TAXES are not deductible. and Yea they are deductible on form 1120. Hope tht helps!
Are state taxes deductible for federal corporate income taxes?
Yes, most state taxes are going to be deductible for federal taxes. Consult the tax manuals or your tax preparer for more information.
Are federal income taxes deductible for federal corporate income taxes?
No, they are not.
If you own back taxes can you deduct payment of these taxes or its penalties or interest?
YOU CAN'T GET A REFUND "ESSENTUALLY" MONEY YOU OWE TO THE GOVERNMENT. IF YOU COULD DEDUCT IT THEN (MEANING A BENEFIT/PAYBACK FOR YOURSELF) WHY WOULD YOU BE ASKED TO PAT IT TO BEGIN WITH? To above - because a deducion doesn't equal tax (that is called a tax credit)...following your logic ----if deductions didn't help lower tax...why would any exist? == == == == The Federal tax you pay isn't deductible from your income to then calculate the tax you pay (thats completely circular thinking). You determine your income before Fed tax and pay your tax based on that income. However, State income taxes are deductible from Federal income...so if you pay back State income taxes, you probably can get a refund of the Federal tax you paid on that deductible amount. Again, obviously State income tax isn't deductible in calculating the amount of State income you have to pay tax on. It makes no difference if you pay the tax on time or late...it isn't deductible from itself. Penalties are never deductible....it's contrary to public policy that someone should get a benefit from their wrong doing. Again doesn't matter if the penalty is for late filing, or for dealing drugs, or whatever. Again, interest that isn't on the mortgage for your house, or basically part of a business enterprise, isn't deductible for anyone. Certainly not for paying taxes late or such.
Is current use tax tax deductible?
Well yes and no. Under a recent change in the tax laws, sales or use taxes are deductible under certain rules IF you elect to, and beneficial if they are more than the State income taxes. This equalizes the deductible State taxes for those living places that have no (or small) income taxes.
Are payroll taxes at a corporate level deductible on Federal form 1120?
All state and local taxes as well as FEDERAL PAYROLL TAXES are deductible when incurred on property or income relating to business. But, FEDERAL INCOME TAXES are not deductible. and Yea they are deductible on form 1120. Hope tht helps!
Are state taxes deductible for federal corporate income taxes?
Yes, most state taxes are going to be deductible for federal taxes. Consult the tax manuals or your tax preparer for more information.
What if you don't have the deductible for your car insurance. What can be done?
The insurer can issue payment minus your deductible.
Are federal income taxes deductible for federal corporate income taxes?
No, they are not.
Are property taxes tax deductible?
This is possible.
What are the most popular retirement plans at Traditional IRA website?
You can choose between a deductible and a non-deductible traditional IRA plan. The deductible one allows you to get a refund on the taxes that you paid previously. With the non-deductible one you fund it with the money you get after paying taxes.
If you own back taxes can you deduct payment of these taxes or its penalties or interest?
YOU CAN'T GET A REFUND "ESSENTUALLY" MONEY YOU OWE TO THE GOVERNMENT. IF YOU COULD DEDUCT IT THEN (MEANING A BENEFIT/PAYBACK FOR YOURSELF) WHY WOULD YOU BE ASKED TO PAT IT TO BEGIN WITH? To above - because a deducion doesn't equal tax (that is called a tax credit)...following your logic ----if deductions didn't help lower tax...why would any exist? == == == == The Federal tax you pay isn't deductible from your income to then calculate the tax you pay (thats completely circular thinking). You determine your income before Fed tax and pay your tax based on that income. However, State income taxes are deductible from Federal income...so if you pay back State income taxes, you probably can get a refund of the Federal tax you paid on that deductible amount. Again, obviously State income tax isn't deductible in calculating the amount of State income you have to pay tax on. It makes no difference if you pay the tax on time or late...it isn't deductible from itself. Penalties are never deductible....it's contrary to public policy that someone should get a benefit from their wrong doing. Again doesn't matter if the penalty is for late filing, or for dealing drugs, or whatever. Again, interest that isn't on the mortgage for your house, or basically part of a business enterprise, isn't deductible for anyone. Certainly not for paying taxes late or such.
Are title insurance premiums deductible on your taxes?
Most non-reoccuring closing costs can be deductible on your taxes. Check with your accountant or tax preparer for detailed information.
Is the interested paid on a back spousal support payment tax deductible?
Personal interest is not tax deductible
Is current use tax tax deductible?
Well yes and no. Under a recent change in the tax laws, sales or use taxes are deductible under certain rules IF you elect to, and beneficial if they are more than the State income taxes. This equalizes the deductible State taxes for those living places that have no (or small) income taxes.
Is interest paid IRS on delinquent taxes deductible?
No, personal interest is never deductible, regardless of who it is paid to.
Is paying rent tax deductible?
No, not for Federal taxes.
