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Your pay was garnished can you deduct the amount from your taxes?
Wiki User
∙ 15y ago
NO! The fact that something was paid through a collection action doesn't make it deductible...or not taxable...it doesn't change what it is. They are garnishing your INCOME, so it is subject to Income Tax.
Wiki User
∙ 15y ago
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Can you deduct the amount you pay your tax account?
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.
Can you deduct the loss on your 401k on your taxes?
No, this is the offset of not having to pay taxes on 401K profits. Save
Does charitable donations have an effect on your taxes?
yes they do. you can deduct charitable donations from the taxes that you are required to pay.
What is the amount of income individuals have after they save and pay their taxes?
= the amount of income individuals have after they save and pay their taxes? =
What percent of taxes are taken out of your pay check in Massachusetts?
Your employer will deduct 5.3% of your wages for Massachusetts income tax. Based on your pay rate and the W-4 you filled out, they will deduct about 28% for the Federal Government, plus SSIC.
Your parents bought you a car for 13000 the title is in your name do you have to pay taxes on it?
Yes. If they buy the car then gift it to you, then they will have to pay upfront, and then can deduct a certain amount. But someone will pay.
Can you deduct tuition you pay for your grandson on your federal taxes?
Yes.
Can you deduct the amount you pay your tax account?
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.
Can you deduct the loss on your 401k on your taxes?
No, this is the offset of not having to pay taxes on 401K profits. Save
Does charitable donations have an effect on your taxes?
yes they do. you can deduct charitable donations from the taxes that you are required to pay.
Do you have to pay taxes on wages garnished by the state?
yes, you still made the income
Is it legal for an employer not to deduct or pay social security taxes from their employee wages?
No.
How much money can you pay a person for work before you need to deduct taxes?
If the employee does not have sufficient deductions or earns more than the minimum taxable wage then you need to deduct taxes. If he has a qualifying number of dependents or his pay is lower than the minimum taxable amount then no deductions are required. Some employees, who's pay is so low that they owe no taxes have no deductions. See the first Related Link below for details.
Can your pay be garnished in Florida if you are a contractor?
What you do for a living means nothing. If you have a debt that is garnished, the money will be taken. If the garnishment is for taxes, you should have paid them when you were supposed to.
What is the amount of income individuals have after they save and pay their taxes?
= the amount of income individuals have after they save and pay their taxes? =
Do you pay taxes on insurance proceeds for a totaled business vehicle?
No, (or a personal one)...but you can't also deduct the casualty loss - up to the amount of the payment...so if they paid you "in full"....thats it.
Can you deduct lost wages on your taxes due to an on the job accident and workers comp only paid you 60 percent of your normal pay?
No. You cannot deduct lost income when you never claim the actual income in the first place. You are only taxed on the amount of taxable income that you received. The reason that Worker's Compensation pays you at this level is that you are not paying income taxes, state taxes, social security taxes nor medicare taxes on this income.
