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A deduction taken out of payroll for something, reducing the income tax is applied to. Hence you get to pay that item with "pre tax" money...which is cheaper than after tax money.
What else can I help you with?
What is a pre-tax deduction?
A deduction taken out of payroll for something, reducing the income tax is applied to. Hence you get to pay that item with "pre tax" money...which is cheaper than after tax money.
Is a rainbow vacuum a medical tax deduction?
No, a rainbow vacuum is not a medical tax deduction.
Is child support a pre tax deduction?
Method of making payment makes no difference...check or deduction or whatever. It is not a deductible payment or deduction on return. Paying for your children is done with after tax $s, however, they may be a dependent and provide a deduction that way.
What is the standard deduction for a child on my tax return?
The standard deduction for a child on your tax return is 1,100 for the 2021 tax year.
Which reduces your tax liability more, a deduction or a credit?
A tax credit reduces your tax liability more than a deduction.
Are disability insurance premiums deductible?
You can pay for your disability premiums pre-tax through payroll deduction. If you do this any benefit will be taxed as well.
Can I claim rent as a tax deduction on my income tax return?
Yes, you generally cannot claim rent as a tax deduction on your income tax return.
Java code for tax deduction in database connection?
Java code for tax deduction in database connection?
What is the standard deduction for children on federal tax returns?
The standard deduction for children on federal tax returns is 1,100 for the 2021 tax year.
Is there a medicare tax deduction?
No
Are cats a tax deduction?
Pets are not tax deductions.
Is FICA deduction before or after 401K deductions?
A deduction is made "pre-tax" if it avoids at least one form of taxation. Although contributions to "traditional" versions of 401(k) and 403(b) retirement plans, as well as 457 plans, are "pre-tax" deductions for purposes of Federal income tax, they ARE subject to FICA withholding. In contrast, Section 125 ("Cafeteria Plan") healthcare premiums are deducted before FICA liability is calculated.
