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Answered 2006-12-26 16:47:26

Federal taxes paid or payable, (even if paid in the current year), aren't deductible in calculating your federal taxable income. State income tax payments may be deductible in determining your federal tax taxable income. And refunds received of a prior years State income tax may therefore be included in the current years federal taxable income.

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Can you Deduct tax payments from the previous year?

Yes, unless it's been past three years. They have five years to eat you alive though. For the previous year -as below...from the previous year (as in made then) - even if applicable, no, only in the year they are paid. File an amended. State Tax payments are deductible from Federal, when paid. Federal Tax Payments aren't deductible from State, or from Federal for that matter, regardless of when they are paid.

Are federal tax payments deductible expenses for a corporation?


Are income tax payments deductible?

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.

Is credit card interest payments tax deductible?

NO The personal interest is never deductible on your 1040 federal income tax return

Are state income payments deductible on federal taxes for corporations?

Yes, (and individuals). For Corps it is the amount paid (not accrued).

Is there a Federal deduction for state back tax payments?

State income taxes are deductible from Federal taxable income in the year they are paid, regardless of when they were due.

Are state income tax payments deductible on federal form 1120?

State income taxes are deductible on the Federal Form 1120. Other deductions include repairs, interest, and depreciation for homeowners filing Form 1120.

Are state income tax payments deductible on a corporate tax return?

Yes. State income (and net worth based) taxes are deductible from taxable income for Federal income tax purposes.

Is federal tax on gasoline deductible on a 2008 federal tax return?

No. Not any year. And Federal Tax, even income tax, is not deductible on a return.

Are federal estimates tax deductible?


Can mileage from and to a bank to get Cd's deductible from federal income tax?

No, the mileage to and from a bank to get CD\'s are not deductible from federal income taxes.

Are payroll taxes at a corporate level deductible on Federal form 1120?

All state and local taxes as well as FEDERAL PAYROLL TAXES are deductible when incurred on property or income relating to business. But, FEDERAL INCOME TAXES are not deductible. and Yea they are deductible on form 1120. Hope tht helps!

Is pet insurance tax deductible in Arizona?

Not deductible on your federal income tax return.

Are federal income taxes deductible for federal corporate income taxes?

No, they are not.

Are payments made to IRS through a chapter 13 bankruptcy deductible?

No. Federal tax due is never tax deductible from taxable income that determines tax due. (That would be circular). How they are made, on time, late, electronically, under protest, under BK makes no difference.

Are vehicle registration fees Federal tax deductible?


Is an unpaid personal loan deductible from federal taxes?


Is paying rent tax deductible?

No, not for Federal taxes.

I had to pay money to state and federal last year. Can that money be claimed on this years taxes?

how much is $60 add tax You can deduct the 2009 State Taxes you paid in 2010 on Schedule A (if you itemize). Federal tax payments are not deductible according to the IRS Website

How can you deduct alimony payments when paying taxes?

Alimony payments are deductible as an above-the-line deduction on your Federal income taxes. They are reported on Line 31a of Form 1040 for 2010. Note that Line 31a also requires you to report the Social Security Number of the person you paid alimony to, because it will be considered taxable income for them. It's important to point out that child support payments are NOT deductible. So, if you are making monthly court-ordered payments that include both alimony and child support, you can only deduct the portion of those payments that are considered alimony. Usually the court order will specify these amounts.

Are state taxes deductible for federal corporate income taxes?

Yes, most state taxes are going to be deductible for federal taxes. Consult the tax manuals or your tax preparer for more information.

Is gas tax deductible on current federal income tax forms?


Is Gas sales tax deductible?

Gas tax is an excise tax not a sales tax. It is therefore not deductible for federal income tax purposes.

Universal life insurance premiums tax deductible?

NO. Life insurance premiums would NOT be deductible on your 1040 federal income tax return.

Do California Employees pay unemployment insurance?

Yes, they do. Unemployment is a federal program led by the Department of Labor. In order to receive payments, you must have worked the previous 12 months.

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