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What is the maximum amount that can be deducted for California property taxes on federal income tax returns?

The maximum amount that can be deducted for California property taxes on federal income tax returns is 10,000.


What is the maximum amount of property tax that can be deducted in California?

The maximum amount of property tax that can be deducted in California is 10,000 per year.


Which of the following is not deducted from an employee's payroll?

Property taxes


How to get a small business tax refund when no taxes were taken out?

You can't get a tax refund if no taxes were deducted for the year in question.


What does net of taxes mean?

It simply means what's left after tax is deducted from an amount. Net of tax = Gross Amount - Tax


What does withholding tax mean?

Taxes that are taken out of your pay before you get it. These typically include income taxes, social security taxes and Medicare taxes.


What does less tax mean?

It means the salary BEFORE the taxes are deducted


Which of the following does not increase the price of certain goods a property tax B excise tax C tariff D sales tax?

property taxes


What is the average percentage of taxes deducted from your paycheck?

The average percentage of taxes deducted from your paycheck is around 20-30, depending on your income level and tax bracket.


Are property taxes tax deductible in California?

Yes, property taxes are tax deductible in California.


Does getting paid biweekly result in higher taxes being deducted from your paycheck?

Getting paid biweekly does not result in higher taxes being deducted from your paycheck. The amount of taxes deducted depends on your income and tax bracket, not on how often you are paid.


What is the difference between contributing to a 401k before tax versus after tax?

Contributing to a 401k before tax means the money is taken out of your paycheck before taxes are deducted, reducing your taxable income. Contributing after tax means the money is taken out after taxes are deducted, so you pay taxes on that money now but may not have to pay taxes on it when you withdraw it in retirement.