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What else can I help you with?
How you Calculate Provision for Income tax?
how to calculate provison for income tax
How do you write off charity donations on your taxes?
If you would like to write off charity donations on your taxes be sure you have all receipts and a flawless record of your donations. When you file your taxes itemize the deductions on the appropriate page. If you are unsure how to fill out a tax form get help from a tax professional.
How do you calculate net indirect tax?
net indirect tax = tax - subsidies
Can you write off life insurance premiums?
Life Insurance is not tax deferred as someone mentioned erroneously here... Life insurance is a tax free benefit, so in general you cannot write it off on taxes.. And loans are also not taxable, so you can access the growth in your whole life tax free even if it grew interest (generally taxable) by utilizing a policy loan... In the case of S Corp's there are a number of allowable instances in writing off life insurance... Such as when an employer pays for life insurance as a part of a beneits package.. The business can write off those premiums.... But personally, its not the case... In general, if uncle sam can't touch the proceeds of a death benefit or tax its growth, then there is no way uncle sam will let you write those premiums off.. You have to pay taxes on those premiums in exchange for a much larger tax free benefit, or a tax free loan against what would be taxed if outright withdrawn..
Can a company write off tools and materials that are stolen as a loss?
Yes, a company can write of any tools or materials that have been stolen as a loss. This is done for tax purposes.
How do you calculate business mileage for tax purposes?
To calculate business mileage for tax purposes, you need to keep a record of the total miles driven for business purposes and multiply it by the standard mileage rate set by the IRS. This rate is used to calculate the deductible expenses related to using a vehicle for business.
What is the average income tax refund?
It depends. You will have to calculate factors like whether you have any depends and whether you can write some things off or not.
Is car donation tax write off the only tax write off that can be claimed on federal taxes?
No there are many different tax deductions that can be claimed on your tax return. For a list of them you can visit www.irs.gov.
Can you write off whole life insurance on your business?
Life insurance is tax deferred so you cannot use the premium as a tax write-off.
Is therapy considered a tax write off?
Yes, therapy can be considered a tax write-off if it is recommended by a medical professional to treat a diagnosed condition.
Where can the best tax deductions be found?
The best tax deductions are anything donated to charities. If you donate clothing to goodwill you can get a tax write off for it. If you donate to a charity you can also get a write off.
Is it a tax write off to hire someone with a low income for assistance with my dental practice?
No, it is not a tax write off to hire someone with a low income for assistance with your dental practice. You can read more at www.irs.gov/publications/p502/ar02.html No that does not qualify you for a tax write off. Alot of supplies and things you must purchase or pay for to run the business can qualify you for a tax write off on them.
Can you write off a first mortgage on your tax returns?
No, but if you deduct you should be able to write off the interest on a mortgage loan. Contact a tax professional for details.
Can I get a tax write-off for a computer donation?
This depends on the cause that you are donating the computer to. Usually, a tax write-off is obtainable if the computer is donated to a nonprofit organization.
Can you write off property taxes in California on your tax return?
Yes, you can write off property taxes in California on your tax return as long as you itemize your deductions.
Is a car donation eligible for a tax write off?
There are a number of rules and important details, but generally yes, you can get a tax write-off for a car donation if you have a receipt. charitableautoresources.com
Can you write off foreclosure costs on your tax return?
in getting my mrotgage caught up i had to pay a fee of 1400 dollars for forclosure fees, can i write them off on my tax return
