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When itemizing, the two most common deductions are home morgage interest and property taxes.
If you mean credits the two most common are the child tax credit and earned income credit.
Both deductions and credits lower or go against your tax liability.
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∙ 13y ago
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What are some common tax deductions?
The most common tax deductions in the United States are on charitable donations, mortgage interest, income tax, real estate tax and dental and medical costs.
What are two types of payroll deductions?
required and volintary
What all deductions are needed for gross salary?
Gross salary means the total salary BEFORE any deductions are taken, so the answer is no deductions.
How can you calculate deductions?
I am not sure what you mean by calculating deductions. You enter your deductions on Federal Schedule A. In some cases, you enter deductions directly on the schedule to which they apply, like Schedule E. There are a few special deductions called "adjustments to income" that you enter at the bottom of the front side of Form 1040.
Itemized deductions are recorded on what tax form?
Itemized deductions are recorded on: Schedule A.
What are some common tax deductions?
The most common tax deductions in the United States are on charitable donations, mortgage interest, income tax, real estate tax and dental and medical costs.
What are two types of payroll deductions?
required and volintary
What are the two most common tribes in Afghanistan?
Pashtun and Tajik are the two most common tribes.
What are two primary deductions?
1. Yourself 2. If you are blind.
What are the two most common unit systems?
The two most common systems of units are cgs and SI systems
What are the two most common scales of temperature?
The two most common temperature scales are... Celsius and Kelvin. *For Canada.*
In a two column proof the left column contains series of deductions?
False
What are two most abundant elements in common minerals?
Oxygen and silicon are the two most abundant elements found in the most common minerals. The most common minerals found on Earth are silicates.
Are Social Security Administration taxable wages reduced by pretax deduction?
It depends on the deduction. Most common deductions such as medical premiums reduce SS taxable wages. But salary-deferal types of deductions do not. For example, employee contributions to a 401lk or Simple IRA do not reduce SS taxable wages.
What are the two most common religious systems in Nigeria?
The two most common religious systems in Nigeria are Islam and Christianity.
What are the two most common types of compressors?
The two most common types of compressors are the positive-displacement and the velocity or dynamic.
What are the two most common systems of units?
The two most common systems of units are cgs and SI systems
