No - even taxes actually paid aren't deductible from determining taxable income - from which your tax is due. (That would be completely circular). If estimates were deductible..I'd make an estimate of enough to lower my taxable income to 0 - or low enough to not pay tax at least....and get a refund of all my overpaid estimate.
State income tax payments are deductible on your federal income tax return. (You may deduct state income tax or sales tax, but not both.) Federal income tax payments are deductible on your state tax return in a tiny number of states.
No
NO The personal interest is never deductible on your 1040 federal income tax return
Absolutely not. Bankruptcy payments are repayments for debts that you incurred in the past and did not pay. There is no circumstances where these could be deductible on your income taxes.
No, sorry. That's why owning a house is better for tax purposes but even then the principal payments are not deductible, only the interest on each one added over the whole year.
Estimated Income tax payments are not deductible in figuring out what your taxable income is, that determines how much your actual income tax is. See, that's circular.
State income tax payments are deductible on your federal income tax return. (You may deduct state income tax or sales tax, but not both.) Federal income tax payments are deductible on your state tax return in a tiny number of states.
Spousal support payments would not be deductible on your income tax return. Only Alimony payments would be deductible on your 1040 income tax return.
No
NO The personal interest is never deductible on your 1040 federal income tax return
Absolutely not. Bankruptcy payments are repayments for debts that you incurred in the past and did not pay. There is no circumstances where these could be deductible on your income taxes.
No, sorry. That's why owning a house is better for tax purposes but even then the principal payments are not deductible, only the interest on each one added over the whole year.
Yes. State income (and net worth based) taxes are deductible from taxable income for Federal income tax purposes.
In case you decide you have to make estimated tax obligations, make quarterly estimated tax payments on estimated tax including estimated self-employment tax.
Not on personal leases, sometimes on business leases (as an expense).
It's neither taxable, or tax deductible.
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