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What else can I help you with?
If you are Married Filing Separately can you each deduct half of the property tax?
Maybe. If each of you paid one-half of the property tax, then each may deduct one-half. A deduction may be taken only by the person who was required to pay it and who actually paid it. If only one spouse paid the property tax, that spouse may deduct it. If one spouse itemizes deductions, the other spouse must also itemize, even if the first spouse is entitled to all of the deductions; i.e., the other spouse has few or no deductions.
as a subcontractor can the person i sub from deduct money from my last check for workers comp?
If you are paid a wage or a salary for temporary work, the employer must deduct ALL taxes, social security and workers comp. If you are a subcontractor paid on a 1099, (which means YOU will pay all the taxes, etc) then no deductions are taken from your compensation. So it depends on the agreement you have with the contractor. He cannot, however, just take out workers comp and nothing else.
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 do you deduct hearing aid donations to charity?
You would have to use the schedule A itemized deductions of the federal 1040 income tax return and have the proper documentation from the qualified charitable organization to do this along with all of your itemized deductions. For more information go to the IRS gov website and use the search box for Form 8283 and its instructions, as well as Publication 526, Charitable Contributions. For information on determining value, refer to Publication 561, Determining the Value of Donated Property.
Income is left after all other deductions have been made?
Disposable
What types of items can one deduct from their taxes?
There are many categories that fall under qualified tax deductions. Child care expenses, mortgage interest, IRA deductions, and alimony are all legal deductions.
Can you deduct your health insurance premium on your 2009 federal tax?
If you itemize your deductions, you pay for your health insurance yourself with after tax funds, or if you are self employed you may be able to deduct part or all of it in 2009.
If you are Married Filing Separately can you each deduct half of the property tax?
Maybe. If each of you paid one-half of the property tax, then each may deduct one-half. A deduction may be taken only by the person who was required to pay it and who actually paid it. If only one spouse paid the property tax, that spouse may deduct it. If one spouse itemizes deductions, the other spouse must also itemize, even if the first spouse is entitled to all of the deductions; i.e., the other spouse has few or no deductions.
How can I maximize my tax deductions through refinancing my mortgage?
Refinancing your mortgage can potentially increase your tax deductions by allowing you to deduct the interest paid on the new loan. To maximize this benefit, consider itemizing your deductions, keeping track of all mortgage-related expenses, and consulting with a tax professional for personalized advice.
What are the tax deductions available for therapists?
Therapists can typically deduct expenses related to their practice, such as office rent, supplies, professional development, and insurance premiums. They may also be able to deduct expenses for travel to see clients or attend conferences. It's important for therapists to keep detailed records and consult with a tax professional to ensure they are taking advantage of all available deductions.
Deduct Transportation Costs?
Be sure to take advantage of all possible deductions when you file your free efile taxes online. One of the most common deductions people fail to take advantage of is for transportation costs related to charity work. While you are not legally able to claim a deduction simply for doing charitable work, you are able to deduct expenses related to that work. For example, if you drive homeless youth to a soccer event every week, then you will be able to deduct expenses for this act. You will be allowed to deduct the expense of gasoline in your federal tax filing.
What are all the tax deductions this year concerning medication and Insurance?
I hope you mean the lack of tax deductions. The medical deductions are the same as they have been except the threshold has increased from 7.5% to 10% for most people. You can deduct insurance premiums you pay yourself with after-tax income. This means that the insurance you pay through your employers Section 125, Cafeteria, Section 403 employer, or other pre-tax plans are not deductible. You can claim your co-pays and deductibles but you can't deduct medical expenses paid by insurance.
How to deduct expenses for tax purposes?
To deduct expenses for tax purposes, keep detailed records of all expenses related to your business or work. Make sure the expenses are necessary and ordinary for your type of work. Keep receipts and documentation to support your deductions. When filing your taxes, report these expenses on the appropriate tax forms to reduce your taxable income.
Formula for net pay?
The calculation for net pay is very simple. First, find your gross income, before any deductions. Next, deduct all taxes, insurances, investments and miscellaneous items, and you will be left with net pay.
What is the minimum tax deduction to can receive for a car donation to the Goodwill?
You should be able to deduct the value of the blue book value of the car that you are donating. If you go to the IRS website, there are dozens of answers to questions revolving tax deductions of all types.
as a subcontractor can the person i sub from deduct money from my last check for workers comp?
If you are paid a wage or a salary for temporary work, the employer must deduct ALL taxes, social security and workers comp. If you are a subcontractor paid on a 1099, (which means YOU will pay all the taxes, etc) then no deductions are taken from your compensation. So it depends on the agreement you have with the contractor. He cannot, however, just take out workers comp and nothing else.
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.
