No, this is the offset of not having to pay taxes on 401K profits.
Save
No. But an uninsured vehicle loss can be.
yes
The loss on the sale of a personal residence is a nondeductible personal loss. (Source: http://www.irs.gov/faqs/faq/0,,id=199617,00.html)
If you are the one renting the property you can not deduct this from your taxes. If you are the landlord you can receive a deduction on your taxes for owning the property.
A individual taxpayer cannot deduct payroll taxes on the individual taxpayers income tax return.
No. But an uninsured vehicle loss can be.
yes
The loss on the sale of a personal residence is a nondeductible personal loss. (Source: http://www.irs.gov/faqs/faq/0,,id=199617,00.html)
If you are the one renting the property you can not deduct this from your taxes. If you are the landlord you can receive a deduction on your taxes for owning the property.
A individual taxpayer cannot deduct payroll taxes on the individual taxpayers income tax return.
The difference between a Roth 401k and a regular 401k is that the Roth 401K is a after-tax contribution and the regular 401K is a pre-tax contribution. You pay taxes on the Roth 401K now in order to avoid taxes at withdrawal. The regular 401 is a tax credit for the year deposited with taxes paid at the time of withdrawal.
No.
no
I am not sure what you mean by this or what kind of tax account you may be referring to.On your federal income tax return, you may deduct payments of various types of state and local taxes that are imposed on you within limitations. These include real estate, state and local income taxes, and sales taxes (but not both sales taxes and income taxes). You may not deduct federal incomes taxes. You may not deduct interest or penalties.A few states let you deduct federal income taxes on your state return.
No
No. However, you can deduct property taxes from your federal tax liability.
yes