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Can I deduct the amount I sold my used car for from the price of my new car so my sales taxes will be less?
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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 I deduct the price of my property rental from my taxes?
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.
What amount can I deduct from my taxes for a charitable car donation?
You can deduct about 500 dollars through car donation
Can I deduct general sales tax from items purchased out of resident state?
yes i did it. On your Federal return you may deduct State Sales Taxes paid in lieu (that is instead of) State income taxes paid. This is only advantageous if you have a very large amount of sales tax for a year (like you buy a plane or expensive new cars, etc), or - and this is why they out the provision in, you live in a State that doesn't have an income tax.
Can state sales tax be deducted from your taxes?
According to the IRS, if you itemize deductions on your federal return you may deduct either state and local incometaxes or state and local sales taxes. You get to choose which to deduct, but you may not deduct both, and you can't deduct either unless you itemize deductions.Chances are pretty good that unless your state has low income tax rates and fairly high sales tax rates, you'll be better off deducting the income taxes instead, but you do have the option.
Can you get a return if you owe back taxes?
If you owe back taxes, the IRS will automatically deduct that amount from your refund. Depending on that amount, you can only receive what is left from that deduction.
What is MFJ federal standar deduction FOR 2009?
2009 MFJ both under of the age of 65 the standard deduction amount would be 5700 plus any property taxes up to a maximum of 500 and any sales tax or fees that are based on the purchased price of a new vehicle up 49500 of the price of the vehicleMoney Back for New Vehicle Purchases. Taxpayers who buy certain new vehicles in 2009 can deduct the state and local sales taxes they paid or other taxes and fees they paid in states with no sales tax.Use schedule L of the 1040 tax form if any of the above applies to your situation.
Can you claim childcare on taxes as single parent?
Yes you can claim childcare. As far as I know there is no set amount you can deduct.
Is section 179 still valid for taxes Can you still deduct equipment?
Yes. Very much so. It isn't that you can deduct equipment..it is (and was) that you can currently expense (rather than capitalize, and deduct through depreciation over years), up to an certain amount. That amount is being substantially increased.
If a price is 1500 and the sales taxes 5 percent what is the total cost?
The total with sales tax is 1,575.00
Can you deduct payroll taxes?
A individual taxpayer cannot deduct payroll taxes on the individual taxpayers income tax return.
What is the maximum loss claimable on federal income taxes due to sales of stock at a loss?
You can deduct $3,000 per year. If you have a higher loss amount, you can carryover the remainder for as many years as necessary until it is all used. http://taxresolutionaries.blogspot.com
