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What else can I help you with?
Can you deduct the purchase of a used car from your taxes?
No. But an uninsured vehicle loss can be.
Can you deduct a loss of income due to medical on income taxes?
yes
Can you deduct - from your taxes - the loss on the sale of your home?
The loss on the sale of a personal residence is a nondeductible personal loss. (Source: http://www.irs.gov/faqs/faq/0,,id=199617,00.html)
Can I deduct the price of my property rental from my taxes?
If you are the one renting the property you can not deduct this from your taxes. If you are the landlord you can receive a deduction on your taxes for owning the property.
Can you deduct payroll taxes?
A individual taxpayer cannot deduct payroll taxes on the individual taxpayers income tax return.
Can I deduct 401k contributions on my taxes?
Yes, you can deduct 401k contributions from your taxable income on your taxes, which can lower your overall tax liability.
Can you write off 401k contributions on your taxes?
Yes, you can typically deduct 401k contributions from your taxable income when filing your taxes, which can lower your overall tax liability.
Can you deduct the purchase of a used car from your taxes?
No. But an uninsured vehicle loss can be.
Can you deduct a loss of income due to medical on income taxes?
yes
Can I deduct points on a refinance from my taxes?
No, you cannot deduct points on a refinance from your taxes.
Can I deduct travel to and from work on my taxes?
No, you cannot deduct travel to and from work on your taxes.
Can I deduct losses on stocks from my taxes?
Yes, you can deduct losses on stocks from your taxes, but there are limits on how much you can deduct in a given year.
Can I deduct state taxes from my federal taxes?
Yes, you can deduct state taxes from your federal taxes if you itemize your deductions on your federal tax return.
What are the differences in tax implications between a traditional 401k and a Roth 401k?
The main difference in tax implications between a traditional 401k and a Roth 401k is when you pay taxes on the money. With a traditional 401k, you contribute money before taxes, so you pay taxes when you withdraw the money in retirement. With a Roth 401k, you contribute money after taxes, so you don't pay taxes when you withdraw the money in retirement.
Can you deduct - from your taxes - the loss on the sale of your home?
The loss on the sale of a personal residence is a nondeductible personal loss. (Source: http://www.irs.gov/faqs/faq/0,,id=199617,00.html)
Can I deduct the price of my property rental from my taxes?
If you are the one renting the property you can not deduct this from your taxes. If you are the landlord you can receive a deduction on your taxes for owning the property.
Can I deduct groceries on my taxes?
No, you generally cannot deduct groceries on your taxes as they are considered personal expenses and not tax-deductible.
