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As an individual, from income tax: Only a few years ago they allow the option to deduct either sales taxes paid OR STATE income tax. (Really to level things for those who live places that may not have an income tax, so it may use sales taxes to a higher degree). There are some base amounts one can use in a chart as aprt of filing instructions, or document the actual paid.
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Is sales tax deductible from 2007 tax returns?
Sales tax is deductible as an itemized deduction (Schedule A), however you can deduct EITHER: -Sales Tax Paid -State income taxes paid Obviously you would want to deduct whichever is higher. This deduction can be very beneficial to people living in states that do not have an income tax, such as Florida.
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 I Deduct wages earned but not paid?
ONLY if they were included as income on a paycheck somehow. YOU CAN NOT DEDUCT MONEY YOU DIDN'T MAKE. There is a lot of money you didn't make. The money is NOT taxable, not tax deductible. (If you paid tax on it and didn't receive it, then you could deduct it...basically because you overpaid, not because you under-earned!
When can you deduct expenses paid by credit card?
Presuming it is a deductible expense, they are reportable when paid by the credit card, or any other method.
Can a coporation deduct a lease payment?
Yes, corporations can deduct lease payments. Property lease payments and vehicle lease payments are deductible in the year paid or accrued.
Is sales tax deductible from 2007 tax returns?
Sales tax is deductible as an itemized deduction (Schedule A), however you can deduct EITHER: -Sales Tax Paid -State income taxes paid Obviously you would want to deduct whichever is higher. This deduction can be very beneficial to people living in states that do not have an income tax, such as Florida.
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.
If you buy a car in Nevada from a dealer and live in Arizona do you have to pay sales tax in Arizona?
I think so. Generally speaking, that is the case. However, if you paid sales tax to the state of Nevada, you should be able to deduct that from your Arizona taxes.
What is a Sales slip that is marked paid?
a sales silp that is marked paid a sales silp that is marked paid a sales silp that is marked paid
Can you deduct health insurance premiums you paid?
If you file Schedule A (long form) you can deduct your health insurance premiums as a medical expense. If you pay this through your employer, most likely you have it paid from pre-tax income such as through a cafeteria plan, then you are not allowed to deduct the premiums.
Can I Deduct wages earned but not paid?
ONLY if they were included as income on a paycheck somehow. YOU CAN NOT DEDUCT MONEY YOU DIDN'T MAKE. There is a lot of money you didn't make. The money is NOT taxable, not tax deductible. (If you paid tax on it and didn't receive it, then you could deduct it...basically because you overpaid, not because you under-earned!
Can you deduct the interest paid on state taxes on your federal income taxes?
yes
In a movie or TV series are women paid more if there asked to remove there cloths?
They don't paid more.
Can you itemize hospital bills on your tax return that you have not paid in full?
No. The only deductions that you can take on a tax return are items that you actually paid. However, you can deduct the amount of the bill that you did pay and then next year you can deduct the part that was paid during this year, even though the bill was for last year.
When can you deduct expenses paid by credit card?
Presuming it is a deductible expense, they are reportable when paid by the credit card, or any other method.
Your fiance and you just bought a house together you will not be married until 2009 How will you file the interest paid for 2008?
First and foremost, only the person who actually paid the mortgage interest (from his/her own funds) may deduct any of it. Then, it depends on how the house is deeded. If you own it in joint tenancy with rights of survivorship with your fiance, the person who paid it may deduct it. If you split the payments, you may split the deduction in the same proportion as you paid it. If you own the house as tenants in common, each of you may deduct as much as you actually paid, but only to the extent of your ownership interest in the property -- probably 50%. That is, even if you paid 100% of the mortgage payments, you may deduct no more than half of the interest.
Can a coporation deduct a lease payment?
Yes, corporations can deduct lease payments. Property lease payments and vehicle lease payments are deductible in the year paid or accrued.
