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Taxes are what pays for the services that we receive from the government, no matter which government level it is it still comes from taxes in one form or another.
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Why must we pay taxes to our local state and national governments?
Taxes are what pays for the services that we receive from the government, no matter which government level it is it still comes from taxes in one form or another.
Why must we pay taxes to our local-state and national governments?
Taxes are what pays for the services that we receive from the government, no matter which government level it is it still comes from taxes in one form or another.
Can you claim sales tax on your taxes?
Yes, you can claim state and local sales taxes on your return. But in order to do so you must itemize deductions and you must not claim state and local income taxes. You're allowed to claim either state and local income taxes or state and local sales taxes, but not both.If you do claim the sales tax deduction, you can either claim the amount you actually paid (based on receipts) or the amount given to you by the IRS's Sales Tax Deduction Calculator.For a more detailed explanation of the state and local sales tax deduction, please see Deducting State Sales Tax.
Why must you pay taxes to your local state and national government?
Because it is how the government gets the money to pay for all the services wanted or needed it provides to you and the society it governs. (Like security, health care, schools, roads, public services, financial benefits, science, research, recreation, etc.etc.)
Do you have to claim a federal refund as income?
No. But you must claim any refunds of State & local taxes that you deducted in a prior year.
If you purchase your new car out of state must you pay your local county sales tax?
You should ONLY pay the sales taxes etc. in the state where the vehicle is registered.
Do Some states require that local elections must come during the in-between years when no national elections are held?
Yes, some states do require that local elections must be held in the in-between years when no national elections take place. This is done to separate local elections from the more prominent and highly contested national elections, allowing local issues to receive more attention and ensuring that local officials are elected with a focus on local concerns. However, this requirement varies from state to state, and not all states have such a provision.
How much tax must be paid on land sales?
You must pay capital gains taxes on any amount of profit that you receive from the sale of the land. This is around 15%. In addition, there may be local and state taxes that need to be paid depending on your location.
What taxes paid on a mortgage can be claimed on a personal income tax?
AnswerThere are four types of deductible nonbusiness taxes:* State, local and foreign income taxes; * Real estate taxes; * Personal property taxes; and * State and local sales taxes.To be deductible, the tax must be imposed on you and must have been paid during your tax year. Taxes may be claimed only as an itemized deduction on Form 1040, Schedule A.Deductible real estate taxes are generally any state, local, or foreign taxes on real property. They must be charged uniformly against all property in the jurisdiction and must be based on the assessed value. Many states and counties also impose local benefit taxes for improvements to property, such as assessments for streets, sidewalks, and sewer lines. These taxes cannot be deducted. However, you can increase the cost basis of your property by the amount of the assessment. Local benefits taxes are deductible if they are for maintenance or repair, or interest charges related to those benefits.If a portion of your monthly mortgage payment goes into an escrow account, and periodically the lender pays your real estate taxes out of the account to the local government, do NOT deduct the amount paid into the escrow account. Only deduct the amount actually paid out of the escrow account during the year to the taxing authority. Yor mortgage company generally provides this to you with their year end information.
Does Europe have taxes that affect nations?
Yes. Each European country has national taxes and possible other forms of taxes (homes tax, sales tax, separate state tax, etc.). In addition, if a country is a member of the European Union, taxes must be paid to the EU in addition to the citizen's native country.
Why do people pay federal taxes?
People must pay federal taxes in order to provide funding for Congress, the Supreme Court, and the Presedent and other executives. The need the money in order to pay workers or carry out federal laws. Also, we have to pay state taxes to pay our governer and other local legislatures. So we have to pay both federal and state taxes and if you don't, your in trouble. (:
What date must you file your state and federal taxes by?
April 15th
