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I guess it depends;for instance, the traditional IRA is a retirement savings plan where contributions may be tax deductible and the values can grow tax deferred until withdrawal at retirement.However, for 2010, the IRA contribution limit for any wage earner is $5,000 or the individual's taxable wages, whichever is less. A wage earner over the age of 50 can contribute an additional $1,000 into an IRA. In the case of R-IRA, Roth IRA contributions are not tax deductible by definition. The tax benefit from a Roth IRA is taken at retirement when distributions are tax-free.
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Can you claim sales tax on your taxes?
Yes, you can claim state and local sales taxes on your return. But in order to do so you must itemize deductions and you must not claim state and local income taxes. You're allowed to claim either state and local income taxes or state and local sales taxes, but not both.If you do claim the sales tax deduction, you can either claim the amount you actually paid (based on receipts) or the amount given to you by the IRS's Sales Tax Deduction Calculator.For a more detailed explanation of the state and local sales tax deduction, please see Deducting State Sales Tax.
What is post tax income?
Post as used here means "after". In this case, income AFTER taxes are paid.
If you claim zero on your taxes will you still owe money when you file?
for best tax return claim 0 at work and when you file claim 1
What is the mileage tax rate I can claim on taxes?
40p a mile for the 1st 10000 then 25p
Do you have to claim inheritance money on federal taxes?
Inheritances are not taxed by the federal income tax.
Can you claim sales tax on your taxes?
Yes, you can claim state and local sales taxes on your return. But in order to do so you must itemize deductions and you must not claim state and local income taxes. You're allowed to claim either state and local income taxes or state and local sales taxes, but not both.If you do claim the sales tax deduction, you can either claim the amount you actually paid (based on receipts) or the amount given to you by the IRS's Sales Tax Deduction Calculator.For a more detailed explanation of the state and local sales tax deduction, please see Deducting State Sales Tax.
What is post tax income?
Post as used here means "after". In this case, income AFTER taxes are paid.
Do you pay taxes on the settlement of an insurance claim?
You do not generally have to pay taxes on an insurance settlement claim. You can check with your tax firm or accountant for the rules specific to your state.
Do you have to claim inheritance money on taxes?
Inheritances are not taxed by the federal income tax.
If you claim zero on your taxes will you still owe money when you file?
for best tax return claim 0 at work and when you file claim 1
Can I claim donations of cars to charity on my CT state income taxes?
No. The tax deduction will be on your federal income taxes instead.
You received workers compansation in 2006 you don't have to claim it on your 2006 taxes?
No , Its Tax free
What is the mileage tax rate I can claim on taxes?
40p a mile for the 1st 10000 then 25p
Do you have to claim inheritance money on federal taxes?
Inheritances are not taxed by the federal income tax.
What is POST-TAX?
it means you are paying or contributing monies 'post' or after all taxes have been with held from your pay check........ maybe you are talking about a 401k? you can on most contribute, pre or post tax........
How do you claim this deduction on your taxes?
THIS DEDUCTION ON YOUR TAXES will have to entered on the correct form or line of your 1040 federal income tax return before your income tax return can be completed correctly.
How do I claim a federal tax refund?
Go to any local tax person in your area. Once you are there they will have the proper paperwork for you to fill out to claim your annual taxes. Do this before April 15th.
